Defcredit True Blue Credit Card – Rates & Fees

Information verified correct on December 10th, 2016

The Defcredit True Blue Credit Card offers a 3.99% interest rate for the first 6 months on your purchases, balance transfers, and cash advances.

Currently, Defence Bank is offering you an introductory rate of 3.99% for 6 months on all three options. After the 6-month introductory period, you will switch over to the equally competitive regular interest rate. In addition to the competitive rates, you'll also be able to enjoy additional features like interest-free days. You can use this credit card worldwide wherever Visa cards are accepted and use contactless payments thanks to Visa's payWave system.

Product NameDefence Bank Low Rate True Blue Credit Card
Balance transfer rate (p.a.)3.99% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (11.74% p.a.)
Purchase rate (p.a.)3.99% p.a. for 6 months (reverts to 11.74% p.a.)
Annual fee$45 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)3.99% p.a. for 6 months (reverts to 11.74% p.a.)
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Minimum Monthly Repayment3% of the outstanding balance or $10 whichever is greater
Card TypeVisa
Late Payment Fee$20
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Annual Fee$45 p.a.
Minimum Repayment3% of the outstanding balance or $10 whichever is greater
Late Payment Fee$20
Over Limit Fee$35
Cash Advance Fee$4.10
Overseas Cash Advance Fee$6.10
Overseas Emergency Replacement$175
Overseas ATM Balance check$4.10
Overseas ATM Withdrawal Fee$4.10
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

The True Blue Credit Card Review

The Low Rate True Blue Credit Card from Defence Bank lives up to its name with its competitive introductory rate on balance transfers, purchases, and cash advances. Enjoy a 3.99% p.a. interest rate for the first 6 months after opening your account before it switches to the normal 11.74% p.a. rate—the same rate for cash advances, purchases, and balance transfers.

The minimum credit limit on this card is $1,000, which makes it useful for everyday purchases or even to save for emergencies. The minimum repayment is 3% of the overall balance or $10 (whichever is larger at the time) while late fees will cost you $20. You will also have to pay an annual fee of $45

This credit card doesn't have features like rewards programs, but you will be able to take advantage of up to 55 days of interest-free purchases. If you are looking for a card with more features you may want to compare this card with other similar offers from different providers.

Balance transfer offer

  • Enjoy an introductory rate of 3.99% p.a. on balance transfers Defence Bank is offering new cardholders a competitive introductory rate on balance transfers for the first 6 months after opening their account. Once the introductory period ends it will revert back to the 11.74% p.a.
  • Consolidate your credit card debt into one bill Balance transfers allow you to take the balance of one or more credit card/s and move it onto your new credit card so you can cut down on the number of bills you pay each month. Consolidating your debt like this will also allow you to pay down your overall credit card debt faster and save on interest and fees.
  • Save money on interest payments If you transfer the balance of one or more credit card/s to your Low Rate True Blue Credit Card you can potentially save money on interest payments. This is because you'll only be paying the 3.99% p.a. introductory interest rate instead of the normal interest rate on your established credit card, which is most likely higher.
Back to top

Competitive introductory rates

  • 3.99% p.a. promotional interest rate on purchases When you apply for and get approved for the Low Rate True Blue Credit Card you will get a promotional interest rate of 3.99% p.a. on purchases for the first 6 months. That means that you're able to make purchases using your card without paying the normal 11.74% p.a. interest rate on purchases.
  • Promotional interest rate for cash advances You'll also get the same promotional interest rate on cash advances for the first 6 months of your account. If you need extra money during a tight financial time you can withdraw money using your card and pay only 3.99% p.a. during the introductory period.
  • Competitive standard interest rate after promotional period ends When your promotional period ends you'll still have a competitive interest rate of 11.74% p.a. on both purchases and cash advances. This interest rate can save you money compared to other credit card interest rates being offered in the market.
Back to top

Make purchases during interest free days

  • Take advantage of up to 55 interest-free days When you become a cardholder you can take advantage of interest-free purchase days. If you pay your balance back in full, you'll be able to enjoy up to a 55-day interest-free period when you make purchases using your Low Rate True Blue Credit Card.
  • Pay down your debt faster During your interest-free days you won't be charged interest on your purchases but you will have to pay off the balance of your credit card. Since this balance won't have additional interest on it you can pay down your debt faster as your bill will be lower.
  • Interest-free days give you incentive to pay your balance down Since you get your interest-free days when you pay off your balance completely, you will be motivated to pay off your balance every statement period so you can continue having up to 55-days of interest-free purchasing power.
Back to top

The Low Rate True Blue Credit Card Features

Besides the balance transfer offer, the interest free days, and the competitive rates, there are a few other features that are offered with your Low Rate True Blue Credit Card.

  • Competitive annual fee. You'll only pay an annual fee of $45 on this credit card.
  • Less mandatory fees. There are also few mandatory fees attached to this credit card which can save you money in the long run.
  • Worldwide acceptance. Since this runs on Visa your credit card will be accepted at millions of locations across the globe.
  • Contactless technology. Visa payWave allows you to make certain purchases without swiping your credit card, entering a PIN, or signing a receipt. This makes shopping fast and convenient.
  • Short waiting times. Defence Bank has streamlined their application process so you don't have to wait as long to get a decision on your application. This means you can get approved fast and start using your card sooner rather than later.
  • Faster application process. Defence Bank has also come up with a way to make the application process shorter. You can start your application and then save it and resume it at a later time, too.
  • Minimum credit limits. This credit card has a minimum credit limit of $1,000, letting you select a smaller limit if you need to.
  • Fast applications through online banking. Established Defence Bank members can apply even faster when they go through their online banking account as their personal information is already in the bank's system.
Back to top

How to apply for the Low Rate True Blue Credit Card

Application criteria for the Low Rate True Blue Credit Card

Before applying for this credit card you need to make sure you are eligible for the offer. This will save you from wasting your time filling out an application for something you aren't qualified to get.

  • You must be at least 18 years of age to apply for this credit card
  • You also have to be an Australian citizen or permanent resident with a valid Australian address
  • Most banks will also ask you to have a certain minimum annual income to qualify for the credit card. Check with the bank to see what their minimum income requirement is before you apply
  • You will also have to have a good credit history with no defaults or bad debt in order to qualify for this credit card

Required information

In order to make the application process easier it's recommended that you have all necessary paperwork on hand before starting.

  • Identification information: In order to verify your identity to the bank you'll need a valid driver's license, a valid passport, your Medicare card, and/or an Australian birth certificate.
  • Income information: To verify your income and credit history you'll need to have financial documents like payslips or similar documents on hand. You may also need your employer's information or your accountant's information if you're self-employed.

The Low Rate True Blue Credit Card from Defence Bank offers competitive rates and fees along with additional benefits like balance transfers and interest-free days. Apply online today if you feel this offer fits your wants and needs.

Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Credit Cards Comparison

Rates last updated December 10th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback