If you're in the market for a new credit card that has all the top features you'd want like a low purchase rate, low annual fee and 45 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 also comes with a 0% p.a. balance transfer rate for 12 months, and low revert rate of 11.99% p.a.
The Low Rate Visa Card has an ongoing purchase rate of 11.99% which is up there with the lowest purchase rates in the market, so this could be a good credit card if you do tend to carry a balance. If you pay your balance off in full each month though, you'll get up to 45 days interest-free. There is a $49 annual fee to weigh up though.
The card is connected to the Visa network, so you can use it in Australia or overseas wherever Visa is accepted. You'll also be able to 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, although this is relatively standard for most credit cards.
Where the Low Rate Visa Card can offer some real value is if you're looking to save money by transferring a balance from another credit card. That's because it currently offers 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 will revert to the low 11.99% purchase rate.
And before you ask, 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 could be 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 by making use of the handy balance transfer offer.
You'll need to be at least 18 years old, a citizen or permanent resident of Australia and currently, be employed or receiving a regular income to apply. There's also a $10 late payment fee, but this can be easily avoided by setting up automatic monthly repayments.
11.99% p.a.
none
0% p.a. for 12 months and then 11.99% p.a.
no
19.99% p.a.
45
$49.00
none
none
none
$10.00
$4.50
2.95%
$2.50
$35.00
$0.00
$20.00
2.0
yes
none
Apple Pay
Suits me!
Read full reviewGgg
Read full reviewHello
Read full reviewGood product not enough shop fronts.
Read full reviewGood product not enough shop fronts.
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.
Westpac
Low Rate
13.74% p.a.
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
Bendigo Bank
Low Rate Credit Card
0% p.a. for 15 months then 11.99% p.a.
No current offer
$45
St.George
Vertigo
13.99% p.a.
0% p.a. for 24 months and then 21.49% p.a.
$55 $0 in the first year
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
Defence Bank
Foundation Credit Card
3.99% p.a. for 6 months then 8.99% p.a.
3.99% p.a. for 6 months and then 8.99% p.a.
$45
CUA
Platinum Credit Card
19.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$149 $0 in the first year
CUA Platinum Rewards
American Express
Qantas Discovery Card
20.74% p.a.
No current offer
$0
Qantas Frequent Flyer
American Express
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Bankwest
Qantas Platinum Mastercard
Qantas Frequent Flyer
$160
30,000
0.75 points up to $2,500/month, then
0.3 points uncapped
St.George
Amplify Platinum
Qantas Frequent Flyer
$99
70,000
0.5 points uncapped
Bank of Melbourne
Amplify Platinum
Amplify Rewards
$99 $0 in the first year
No current offer
1 point uncapped
American Express
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
NAB
Qantas Rewards Premium Card
Qantas Frequent Flyer
$250
30,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
Westpac
Low Rate
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
13.74% p.a.
$59
St.George
Vertigo
0% p.a. for 24 months and then 21.49% p.a.
13.99% p.a.
$55 $0 in the first year
CUA
Low Rate Credit Card
0% p.a. for 20 months and then 21.74% p.a.
11.99% p.a.
$49 $0 in the first year
ANZ
First
0% p.a. for 18 months and then 20.24% p.a. (2.00% balance transfer fee)
20.24% p.a.
$30
Bank of Melbourne
Vertigo
0% p.a. for 24 months and then 21.49% p.a.
13.99% p.a.
$55 $0 in the first year
Bankwest
Zero Platinum Mastercard
2.99% p.a. for 9 months and then 17.99% p.a.
17.99% p.a.
$0
Bank of Melbourne
Amplify Platinum
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
0% p.a. for 7 months then 19.74% p.a.
$99 $0 in the first year
Amplify Rewards
BankSA
Vertigo
0% p.a. for 24 months and then 21.49% p.a.
13.99% p.a.
$55 $0 in the first year
St.George
Vertigo
13.99% p.a.
0% p.a. for 24 months and then 21.49% p.a.
$55 $0 in the first year
Defence Bank
Foundation Credit Card
3.99% p.a. for 6 months then 8.99% p.a.
3.99% p.a. for 6 months and then 8.99% p.a.
$45
Bendigo Bank
Low Rate Credit Card
0% p.a. for 15 months then 11.99% p.a.
No current offer
$45
Westpac
Low Rate
13.74% p.a.
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
NAB
Low Rate Card
12.99% p.a.
0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
Bank of Melbourne
Vertigo Platinum
12.99% p.a.
6.99% p.a. for 12 months and then 21.49% p.a.
$99
Bendigo Bank
Low Rate Credit Card
0% p.a. for 15 months then 11.99% p.a.
No current offer
$45
Defence Bank
Foundation Credit Card
3.99% p.a. for 6 months then 8.99% p.a.
3.99% p.a. for 6 months and then 8.99% p.a.
$45
NAB
StraightUp Card
0% p.a.
No current offer
$120 $10/month - waived if no spend & no balance owing
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 10.99% p.a.
2.99% p.a. for 9 months and then 10.99% p.a. (0% balance transfer fee)
$49
BankSA
Amplify Platinum
0% p.a. for 7 months then 19.74% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$99 $0 in the first year
Virgin Money
No Annual Fee Card
0% p.a. for 12 months then 18.99% p.a.
0% p.a. for 12 months and then 20.99% p.a.
$0
St.George
Vertigo Platinum
0% p.a. for 15 months then 12.99% p.a.
6.99% p.a. for 12 months and then 21.49% p.a.
$99 $49 in the first year
Bank of Melbourne
Amplify Platinum
0% p.a. for 7 months then 19.74% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$99 $0 in the first year
