Australian Military Bank Low Rate Visa Credit Card

10.99% p.a.

0% p.a. for 12 months and then 10.99% p.a.

$49

Australian Military Bank Low Rate Visa Credit Card Review

Review published: 25 October 2016

What's hot:

  • Mozo Experts Choice Awards Winner 2016

  • 0% balance transfer rate for 12 months

  • Low 10.99% purchase rate

What's not:

  • Late payment fee applies

Mozo snapshot:

If you're in the market for a new credit card that has all the top features you'd want like low purchase rate, low annual fee and 55 interest free days, then you can't go past Australian Military Bank's Low Rate Visa Credit Card. And if you're looking to save on credit card interest by switching cards, there's even better news. The Low Rate Visa Card was recently awarded a Mozo Experts Choice Award in the balance transfer category for its 0% balance transfer rate for 12 months, and low revert rate of 10.99%.

Key features:

Anyone can apply for the Low Rate Visa Card, you don't need to be a member of the military to have an account with Australian Military Bank.

The Low Rate Visa Card has an ongoing purchase rate of 10.99% which is one of the lowest purchase rates in the market, so this is a good credit card if you occasionally carry a balance. If you pay your balance off in full each month, you'll get up to 55 days interest free. There is a $49 annual fee.

The card is connected the Visa network, so you can use the card in Australia or overseas wherever Visa is accepted. You can also just tap and go for purchases under $100 as the card has PayWave functionality. If you use the card overseas, you'll pay a 2.95% foreign exchange margin on purchases, which is standard for most credit cards.

Where this card offers real value is if you're looking to save money by transferring a balance from another credit card. It has a 0% balance transfer rate for 12 months, and unlike many other credit cards that revert to the cash advance rate after the balance transfer period, any remaining balance reverts to the low 10.99% purchase rate. 

Who it's good for:

This credit card is suitable for a range of people, whether you're looking for a low rate card or want to get on top of your credit card debt and save on interest repayments.

You'll need to be at least 18 years old, a citizen or permanent resident of Australia and be currently employed or receiving regular income to apply.


Any catches?

There's a $10 late payment fee but this can be easily avoided by setting up automatic monthly repayments.

How are Australian Military Bank credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.2

Based on 27
Australian Military Bank credit cards reviews

6.8 7.0 7.6 7.1 7.2

Read Australian Military Bank credit card reviews by the Mozo community

Latest reviews of Australian Military Bank Low Rate Visa Credit Card

Australian Military Bank

Australian Military Bank Low Rate Visa Credit Card credit card review

Overall rating   8 / 10

Adequate

Suits me!

Full review

Suits me!

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Jon (NSW), reviewed about 2 years ago

Australian Military Bank

Australian Military Bank Low Rate Visa Credit Card credit card review

Overall rating   7 / 10

Good product overall.

Good product not enough shop fronts.

Full review

Good product not enough shop fronts.

    Price   8 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   6 / 10

    Trust   7 / 10

Less

Bret (TAS), reviewed over 2 years ago

Australian Military Bank

Australian Military Bank Low Rate Visa Credit Card credit card review

Overall rating   8 / 10

Like it

Easy to use, interest rates are good .

Full review

Easy to use, interest rates are good .

    Price   8 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Kelly (VIC), reviewed over 2 years ago

Australian Military Bank

Australian Military Bank Low Rate Visa Credit Card credit card review

Overall rating   9 / 10

The best customer service.

I have found that ADCU is always there to listen and help to make banking easy as possible.

Full review

I have found that ADCU is always there to listen and help to make banking easy as possible.

    Price   8 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   9 / 10

Less

Jacqui (QLD), reviewed almost 3 years ago

Australian Military Bank

Australian Military Bank Low Rate Visa Credit Card credit card review

Overall rating   10 / 10

Low rate

Best low rate ever.

Full review

Best low rate ever.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Rodney (ACT), reviewed over 3 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • 10.99% p.a.

  • none

  • 0% p.a. for 12 months and then 10.99% p.a.

  • no

  • 19.99% p.a.

  • 55

Fees

  • $49.00

  • none

  • none

  • none

  • $10.00

  • $4.50

  • 2.95%

  • $2.50

  • $35.00

  • $0.00

Other financial bits

  • $20.00

  • 2.0

Features

  • yes

  • none

  • none

About Australian Military Bank

Australian Military Bank (previously known as ADCU) offers financial products to members of the Australian Defence Force, civilian employees, defence contractors and their families. As well as offering services to people associated with the defence force, the provider welcomes other individuals. Australian Military Bank offers a comprehensive range of saving and investment accounts, loans, insurance and financial advice especially designed for its members.

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