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
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Mozo editorial review Defence Bank Foundation Credit Card

Last updated: 16 November 2020.

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What's hot
  • Introductory 3.99% purchase rate for 6 months (then 8.99%)
  • Low $45 annual fee
  • 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. 

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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. 

snapshot
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 26 February 2021 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

  • none

  • none

Payment options

Apple Pay, Google Pay, 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
7.3/10
Price
6.9/10
Features
5.5/10
Customer service
7.4/10
Convenience
6.3/10
Trust
7.5/10
Thumbnail icon for Defence Bank

About Defence Bank

Defence Bank was originally set up to provide financial products and services to members of the Defence force and their families. Now catering to the defence community and general public, Defence Bank offer services in savings and investment accounts, personal loans, home loans, credit cards, debit cards, term deposits and car insurance.

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