Our verdict

As well as a low interest rate, the Defence Bank Foundation Credit Card donates half the annual fee to a charitable cause.

The Defence Bank Foundation Credit Card is one of the few cards that gives you a way to directly support a charitable cause – in this case, just by paying the $45 annual fee. Half of this yearly fee is donated to Defence Community Dogs, which is set up to help rescue dogs, veterans and people in correctional facilities (who assist in training the dogs).

While the introductory interest rate on this card is not as low as cards that offer 0% p.a. for an introductory period, the ongoing 8.99% p.a. interest rate is very competitive with other low rate cards. You can use the Defence Bank Foundation Credit Card anywhere Visa cards are accepted, and you have the option of adding it to Apple Pay, Google Pay, Samsung Pay or another compatible digital wallet.

Pros

3.99% p.a. interest for 6 months on purchases, balance transfers and cash advances
Half of the annual fee is donated to the Defence Bank Foundation
Additional cardholder at no extra cost

Cons

No rewards program and travel insurance

The Defence Bank Foundation Credit Card offers an introductory 3.99% p.a. interest rate for the first 6 months, which reverts to a low ongoing rate of 8.99% p.a.

With this card, half of the $45 annual fee is donated to the Defence Bank Foundation. This independent charity puts all its funds towards Defence Community Dogs – a program that matches trained rescue dogs with veterans experiencing post-traumatic stress disorder (PTSD) and other medical conditions.

Details

Product details

Product Name	Defence Bank Foundation Credit Card
Balance transfer rate p.a.	3.99% for 6 months, then 8.99%
Purchase rate p.a.	Purchase rate p.a. 3.99% for 6 months, then 8.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	8.99%
Min credit limit	$1,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	Yes

Rewards

Bonus points

N/A

Fees

Annual fee	Annual fee $45
Minimum monthly repayment	10% of the closing balance or $3, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	Foreign currency conversion fee 3%
Additional cardholder fee	$0

How to apply

You can apply for the Defence Bank Foundation Credit Card online by filling in a secure application form that you'll find on the Defence Bank website or through Internet or mobile banking if you're already a member. To get started, make sure you meet the following eligibility requirements and have all the documents and details needed to complete the application.

Eligibility criteria

Australian residency status. You must be an Australian citizen or permanent resident.
Tax responsibilities. You won't be able to apply online if you have any overseas tax obligations. Instead, call Defence Bank on 1800 033 139 to discuss your options.

Age. You must be at least 18 years of age.

Required documents

Personal details. These include your full name, date of birth, residential address, email address and phone number. You will also need to let the bank know whether you're renting, boarding or have a mortgage and your number of dependants. You will also need to provide your driver's licence or other details to help verify your identity.
Employment details. This covers your regular income details and includes your employment status, length of time in that position and your employer or accountant's contact details. You may also need to provide recent bank statements, payslips or other documents that help verify these details.
Financial details. This covers your other assets, such as savings, superannuation and shares or other investments as well as existing cards, loans or other liabilities. You also have to give details of your regular expenses, such as rent or mortgage payments and utility bills.

Card benefits

3.99% p.a. for 6 months. This card offers an introductory interest rate of 3.99% p.a. for all transactions in the first 6 months from approval. At the end of the introductory period, the interest rate reverts to 8.99% p.a.
Support charity. Half of the $45 annual fee ($22.50) is donated to the Defence Bank Foundation, which uses all the funds it raises to run the Defence Community Dogs program. This program provides trained rescue dogs to veterans with medical conditions – including PTSD – and offers inmates at correctional centres the opportunity to help train the dogs. You can learn more about the program on the Defence Community Dogs website.

Interest-free days. If you pay your account balance in full by the due date on each statement, you'll get up to 55 days interest-free on purchases. You can learn more about how interest-free days work in this Finder guide.
Mobile payments. You can add the Defence Bank Foundation Credit Card to your Apple Pay, Google Pay, Samsung Pay, Garmin Pay or Fitbit Pay account and make payments straight from your mobile phone or other devices.
Visa benefits. You can use this credit card to make payments around the world with any business that accepts Visa cards. When you're shopping in person, you can tap to pay and won't need to enter a PIN if the purchase is under $200. Plus, you'll get access to offers on shopping, dining, entertainment and travel through Visa Offers + Perks, with the latest offers listed on the Visa website.

Rates & fees

Annual fee. This card's $45 annual fee is competitive with other low rate cards.
Ongoing interest rate. Outside of any promotions, this card has an interest rate of 8.99% p.a. for purchases and cash advances.

Currency conversion fee. A fee of 3% applies for purchases made overseas or online in a foreign currency.

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Defence Bank Foundation Credit Card

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