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Our verdict

Get 0% p.a. on balance transfers for 12 months and a low variable interest rate on new purchases made with the Australian Military Bank Low Rate Visa.

The Australian Military Bank Low Rate Visa is a straightforward credit card account that offers competitive rates and fees. If you have an existing home loan with Australian Military Bank, you could take advantage of a promotional interest rate of 9.99% p.a. with this card.

Otherwise, a rate of 11.99% p.a. will apply to purchases made with this card – which is still competitive with other low rate options on the market. This is also the interest rate that will apply if you take advantage of the 0% p.a. balance transfer offer and are still paying off that debt after 12 months. In comparison, many other balance transfer cards have higher revert rates, although some also offer longer 0% p.a. introductory periods, so it is worth weighing up your options before making a decision.

Pros

Balance transfer offer of 0% p.a. for 12 months
A low variable purchase rate of 11.99% p.a.
Free additional cardholders

Cons

Offers only up to 45 days interest-free on purchases, compared to other cards with 55 days

This low rate credit card offers a competitive annual fee of $49 and a purchase interest rate of 11.99% p.a.

The balance transfer offer on this card gives you 0% p.a. for 12 months when you request a balance transfer at the time of your application. At the end of the interest-free period, any balance transfer debt remaining will attract interest at the card’s variable rate of 11.99% p.a.

Details

Product details

Product Name	Australian Military Bank Low Rate Visa Credit Card
Balance transfer rate p.a.	0% for 12 months, then 11.99%
Purchase rate p.a.	11.99%
Interest-free period	Up to 45 days on purchases
Cash advance rate p.a.	19.99%
Min credit limit	$2,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	Yes

Rewards

Bonus points

N/A

Fees

Annual fee	$49
Minimum monthly repayment	2% of the closing balance or $20, whichever is greater
Late payment fee	$10
Foreign currency conversion fee	2.95%
Cash advance fee	$4.50
Overseas ATM withdrawal fee	$4.50
Additional cardholder fee	$0

How to apply

You can apply for the Australian Military Bank Low Rate Visa online by completing a secure application form. Alternatively, you can apply over the phone by calling 1300 132 328 or by visiting a branch.

To get started, make sure you meet the following eligibility criteria and have all the documents and details required for the application.

Eligibility criteria

Australian Military Bank membership. You must be a member of Australian Military Bank to get this credit card. If you're not an existing member, you'll be signed up as part of the application process.
Residency status. You can apply for this card if you are an Australian permanent resident or citizen.

Regular income. You must be currently employed or receive a regular income.
Credit history. This card is only available to people who have not declared bankruptcy or insolvency. You also must not have had any defaults on loans, credit cards, store cards or interest-free finance in the past five years.
Age. You must be at least 18 years of age.

Required documents

Personal details. This includes your full name, date of birth, contact details and a valid form of ID, such as your driver's licence, passport or Medicare card details.
Employment details. You'll be asked about your occupation, salary, length of employment and your employer's contact details. You also need to provide your most recent payslip to help verify these details.
Financial details. As well as your salary, this covers any other forms of income along with your existing assets and debts. You also need to provide estimates of your share of regular household expenses including rent or mortgage payments, transport, utilities and groceries.
Balance transfer details. If you want to take advantage of the balance transfer offer on this card, you'll need to provide details of the amount of debt you want to move to your new account as well as the existing account number, name and financial institution's BSB.

Card benefits

0% p.a. balance transfer offer. If you have existing credit card debt, you can pay it off interest-free for the first 12 months that you have the Australian Military Bank Low Rate Visa by requesting a balance transfer at the time of your application. At the end of the introductory period, any remaining debt from the balance transfer will attract a variable interest rate of 11.99% p.a.
Low purchase rate. The Australian Military Bank Low Rate credit card's 11.99% p.a. variable interest rate is competitive with other low rate cards. You could also be eligible for a promotional interest rate of 9.99% p.a. if you have an existing Australian Military Bank home loan. Contact the bank to find out what's required for this rate to apply.

Visa benefits. This card gives you access to exclusive entertainment, travel, shopping and other lifestyle perks through Visa Offers. You can also enjoy an added layer of protection when you shop online through Visa Secure plus contactless payments when you shop in-store.
Additional card. If you want to share your account with a loved one, you can request an additional card and take advantage of a $0 p.a. additional cardholder fee. Note that, as the primary cardholder, you will be responsible for all management of the account.

Rates & fees

Annual fee. This card's $49 annual fee is on the lower end of the scale but, if you don't want to pay a yearly account-keeping fee at all, you could compare no annual fee cards instead.
Interest-free days. If you pay the complete outstanding balance before the due date on each statement, you can get up to 45 days interest-free on purchases made with this card.

Cash advances. If you use this card to withdraw cash or for any other cash advance transactions, an interest rate of 19.99% p.a. will apply from the date the transaction is made. A fee of $4.50 also applies for any cash advance you make with another financial institution.
Foreign currency conversion. A fee of 2.95% applies for transactions made overseas or online in a foreign currency.
Card security. This chip-enabled credit card offers increased protection against fraud when compared to cards that rely on magnetic strips. Visa Secure, an online service offered by Visa, provides additional security every time an online transaction makes use of your card details.

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Amy Finder

Editor

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Alberto

June 27, 2019

What do I have to do to transfer my credit card balance to the Military Bank credit card?

Jeni Finder

June 27, 2019

Hi Alberto,

Thank you for getting in touch with Finder.

If you’re a new Australian Military Bank Low Rate Visa credit cardholder, you may call them to assist you over the phone on processing balance transfer. Please have both of your new and old credit cards handy. If you’re an existing Australian Military Bank Low Rate Visa credit cardholder, kindly reach them out to know if there are BT offers you may take advantage with.

I hope this helps.

Thank you and have a wonderful day!

Cheers,

Jeni

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Martin

June 16, 2019

I am an ex service man and I wish to apply for a credit card, currently I have and ANZ credit card low interest and I find youre card will suit me better. How do I make payments to your bank when I live in NSW South coast ?

Yours Sincerely

Martin

Nikki Angco

June 18, 2019

Hi Martin,

Thanks for your question!

It’s great to know that you are looking to apply for the Australian Military Bank Low Rate Visa Credit Card.

You can make payments to your card by logging in to the online banking portal on the Australia Military Bank website.

As a friendly reminder, read the eligibility criteria, features, and details of the card, as well as the Product Disclosure Statement and Terms and Conditions of the card before committing to the product.

Hope this helps!

Best,

Nikki

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Roger

February 02, 2018

Where are your branches in Adelaide. How can payments be made to the card.

Jonathan Choi Finder

February 26, 2018

Hi Roger, thanks for your inquiry.

The Australia Military Bank branch in Adelaide is located at:

RAAF Base Edinburgh

Shopping Centre, McNamara Drive, RAAF Base Edinburgh, South Australia

Edinburgh, SA 5111

Australia

You can make payments to your card by logging in to the online banking portal on the Australia Military Bank website. I have sent this link to your email.

Best,

Jonathan

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John

January 16, 2018

Can I transfer from another card over to these guys?

Jhezelyn Finder

January 16, 2018

Hi John,

Thank you for your comment.

If you already have a credit card (or store card) debt that you’re paying off with another bank you can transfer the outstanding balance to Australian Military Bank through a balance transfer option. You may qualify for the 0% p.a. interest rate for 12 months on balance transfers which is an introductory offer if you request a balance transfer within 3 months from the card activation. The offer will run for 12 months, after which point the purchase rate will apply.

Regards,

Jhezelyn

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Australian Military Bank Low Rate Visa Credit Card

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Eligibility criteria

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