Foundation Credit Card card image

Defence Bank Foundation Credit Card

Advertiser disclosure
Purchase rate
3.99% p.a. for 6 months then 8.99% p.a.
Balance transfer rate
3.99% p.a. for 6 months and then 8.99% p.a.
Annual fees
$45
Interest free days on purchases
55

Mozo editorial review Defence Bank Foundation Credit Card - last updated: 2 November 2023

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What's hot
  • 2023 Mozo Experts Choice Award winner
  • Introductory 3.99% purchase rate for 6 months (then 8.99%)
  • Half of annual fee donated to the Defence Bank Foundation
What's not
  • 3.00% foreign exchange margin
Mozo snapshot

Whether you work in the Australian Defence Force or like the idea of a bank with a member-first mindset, you can’t go past the Defence Bank Foundation Credit Card. This credit card is highly budget-friendly, thanks to its low 3.99% introductory purchase rate (then 8.99%) and reasonable $45 annual fee (half of which is donated to the Defence Bank Foundation). There’s also up to 55 interest-free days and you’ll have your pick of contactless payment options. 

With a low interest rate on offer and a reasonable annual fee, it's no wonder Defence Bank's Foundation Credit Card received a 2023 Mozo Experts Choice Award for best Low Rate Credit Card. 

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Key features

One great thing about Defence Bank is that you don’t have to be a member of the Australian Defence Force to get your hands on the Defence Bank Foundation Credit Card. Once you are approved, you’ll receive an introductory purchase rate of 3.99% for 6 months (reverts to 8.99% after). Once the 6 months is up, the card’s interest rate will then revert to 8.99%, which is still one of the lower rates on the market. 

This no-frills plastic also features up to 55 interest-free days on purchases, a low $45 annual fee and a cash advance rate of 3.99% for the first 6 months (reverts to 8.99% after) - though it’s still best to avoid using your credit card to withdraw cash. And if you love to pay with your smartphone, you’ll be happy to know that Apple Pay, Google Pay, Fitbit Pay, Garmin Pay and Samsung Pay are available with this card. 

Plus, you may also be happy to hear that half of the annual fee is donated to the Defence Bank Foundation and is put towards providing specially-trained assistance dogs to veterans living with post-traumatic stress disorder (PTSD).

There are still a few things to be aware of though, like the 3% foreign exchange margin that will kick in for international purchases. A $20 late payment fee will apply if you miss a payment and since this plastic is for the frugal of mind, there is no rewards program. 

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Who is it good for

The Defence Bank Foundation Credit Card could be a great pick for Aussie shoppers looking to take advantage of a low purchase rate or spenders in need of a card for everyday spending. 

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Any catches

There’s no denying this card can be a great shopping companion, thanks to its introductory purchase rate. But remember, if you use it for some online shopping on an international website, you will be slapped with the aforementioned 3% fee. 


Details

Rates and fees information correct as at 5 March 2024 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

8.99% p.a.

3.99% p.a. for 6 months

3.99% p.a. for 6 months and then 8.99% p.a.

no

8.99% p.a.

55

Fees

$45.00

none

none

none

$20.00

4.1

3.00%

$0.00

$0.00

$0.00

Features

$10.00

3.0

yes

none

Payment options

Apple Pay, Google Wallet, Samsung Pay, Fitbit Pay, Garmin Pay

Other benefits

50% of the Annual fee ($22.50) is donated to the Defence Bank Foundation.

Customer Reviews

How are Defence Bank credit cards rated by the Mozo community?

Overall
Price
Features
Customer service
Convenience
Trust

About Defence Bank

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NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

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American Express

Platinum Edge Credit Card

23.99% p.a.

No current offer

$195 $0 in the first year

Membership Rewards

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American Express

Qantas Ultimate Card

23.99% p.a.

No current offer

$450

Qantas Frequent Flyer

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American Express

Explorer Credit Card

23.99% p.a.

No current offer

$395

Membership Rewards

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American Express

Velocity Platinum Card

23.99% p.a.

No current offer

$375

Velocity Frequent Flyer

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American Express

Qantas Discovery Card

23.99% p.a.

No current offer

$0

Qantas Frequent Flyer

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American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

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American Express

Velocity Escape Card

23.99% p.a.

No current offer

$0

Velocity Frequent Flyer

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American Express

Qantas Ultimate Card

Qantas Frequent Flyer

$450

100,000

1.25 points up to 100,000 points/year, then
1 point uncapped

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NAB

Qantas Rewards Premium Card

Qantas Frequent Flyer

$250 $150 in the first year

70,000

0.66 points up to $3,000/month, then
0.33 points up to $6,000/month

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American Express

Qantas Premium Card

Qantas Frequent Flyer

$249

20,000

1 point uncapped

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NAB

Rewards Signature Card

NAB Rewards

$295 $145 in the first year

160,000

1.25 points uncapped

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American Express

Qantas Discovery Card

Qantas Frequent Flyer

$0

No current offer

0.75 points uncapped

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American Express

Velocity Escape Card

Velocity Frequent Flyer

$0

No current offer

0.75 points uncapped

Thumbnail icon for NAB
NAB

Qantas Rewards Signature Card

Qantas Frequent Flyer

$395 $295 in the first year

120,000

1 point up to $5,000/month, then
0.5 points up to $20,000/month

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Westpac

Altitude Black

Altitude Rewards

$295 $150 in the first year

150,000

1.25 points uncapped

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NAB

Low Rate Card

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

13.49% p.a.

$59 $0 in the first year

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Citi

Premier Credit Card

0% p.a. for 6 months and then 22.24% p.a.

21.49% p.a.

$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year

Citi Rewards Program

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Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months and then 21.74% p.a.

0% p.a. for 9 months then 20.74% p.a.

$60

Q Rewards

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Virgin Money

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

0% p.a. for 24 months and then 20.99% p.a.

20.74% p.a.

$149 $0 in the first year

Velocity Frequent Flyer

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Bankwest

More Mastercard

0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)

19.99% p.a.

$100

Bankwest More Rewards

Thumbnail icon for NAB
NAB

Low Rate Card

13.49% p.a.

0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)

$59 $0 in the first year

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American Express

Low Rate Credit Card

10.99% p.a.

No current offer

$0

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HSBC

Low Rate Credit Card

12.99% p.a.

0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)

$99

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Australian Unity

Low Rate Visa Credit Card

9.90% p.a.

No current offer

$59

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MOVE Bank

Low Rate Credit Card

8.99% p.a.

0% p.a. for 6 months and then 8.99% p.a.

$59 $0 in the first year

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Bank of Queensland

Blue Visa Credit Card

0% p.a. for 9 months then 20.74% p.a.

0% p.a. for 9 months and then 21.74% p.a.

$60

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Westpac

Flex Card

0% p.a.

No current offer

$120 $10 monthly fee waived if the outstanding balance on the previous statement is paid in full by the due date.

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NAB

StraightUp Card

n/a

No current offer

$240 $20/month - waived if no spend & no balance owing

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Community First Bank

n0w Credit Card

n/a

No current offer

$228 Monthly fee is waived if account has a $0 balance and if card isn't used during the calendar month.

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humm90

Platinum Mastercard

0% p.a. for 3 months then 25.80% p.a.

No current offer

$99

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