Low Rate Visa Card

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Basic

Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$1,000
Minimum repayment dollars
Minimum repayment dollars
$20
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$49
Late Payment Fee
Late Payment Fee
$10
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$3
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$1,000
Minimum repayment dollars
Minimum repayment dollars
$20
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
1
Annual Fee
Annual Fee
$49
Late Payment Fee
Late Payment Fee
$10
Over limit fee
Over limit fee
$15
Duplicate statement fee
Duplicate statement fee
$3
Supplementary card annual fee
Supplementary card annual fee
$0
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
10.99%
Cash advance rate
Cash advance rate
19.99%
Purchase Rate
Purchase Rate
10.99%
Cash advance rate
Cash advance rate
19.99%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
0%
for 12 months then 10.99%
Transfer Limit
Transfer Limit
100%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
0%
for 12 months then 10.99%
Transfer Limit
Transfer Limit
100%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
2.95% on Visa
Overseas charges
Overseas charges
$4.5
Estimated ATM Cost
Estimated ATM Cost
$13.35
for AU $300 withdrawal
Foreign Exchange Fee
Foreign Exchange Fee
2.95% on Visa
Overseas charges
Overseas charges
$4.5
Estimated ATM Cost
Estimated ATM Cost
$13.35
for AU $300 withdrawal

Rewards

Program name
Program name
Rewards Available
Rewards Available
Program name
Program name
Rewards Available
Rewards Available

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions
You have a regular source of income through employment
Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions
You have a regular source of income through employment

Perks

  • Free Supplementary Cards

Features

The Australian Military Bank Low Rate Visa card has a moderately low annual fee, moderately low interest rates and a moderate number of interest-free days. The card has a low late payment fee. The Australian Military Bank Low Rate Visa card does not come with an associated rewards scheme.

The Australian Military Bank Low Rate Visa card offers 0 per cent interest on balance transfers for the first 12 months for those looking to transfer existing debt. After the deal has ended, balance transfers will incur the card’s moderately low interest rates.

This card is protected by security measures, including fraud protection services and Verified by Visa for online purchases. Customers also have access to a 24-hour hotline should the card become lost.

Card holders have several repayment options, including BPAY, online banking and phone banking.

Pros
  • Free additional cardholders
  • 0% balance transfer offer
  • Low late payment fee
Cons
  • Charges an annual fee
  • No rewards scheme
  • No complimentary insurance

 

Who is it good for?

The Australian Military Bank Low Rate Visa card is designed for the budget card holder. Customers who struggle to clear their credit card debt each month can take advantage of this card’s moderately low interest rates and moderate interest-free period.

This card is not particularly well suited to those looking for more than just a simple card for everyday spending. The lack of rewards scheme may deter customers who want to be compensated for their spending with points, cash back or frequent flyer miles. The Australian Military Bank Low Rate Visa also does not offer any complimentary insurances or perks.

This card may also not be a good fit for potential card holders looking for a no-fee option. The Australian Military Bank Low Rate Visa card charges a moderately low annual fee, but it is not waived in the first year. 

What RateCity says

The Australian Military Bank Low Rate Visa card may be a practical option for existing Australian Military Bank members who want to transfer existing debt to a new card. The card offers 12 months of 0 per cent interest on balance transfers, which may help some customers manage their debt more effectively. The card also has moderately low interest rates, so budget customers are not caught with high rates.

However, the Australian Military Bank Low Rate Visa credit card does not offer many advantages to customers who don’t require low rates and balance transfer deals. Customers looking for a card that rewards them may not find this card suitable. Reward-seeking customers may be better off with a credit card that offers a rewards scheme, complimentary travel and purchase insurance, plus other perks. 

Applying/eligibility

To be eligible for the Australian Military Bank Low Rate Visa card, you must be at least 18 years old and be a citizen or permanent resident of Australia. You must be employed or have regular income, and you may not have declared bankruptcy or insolvency in the last five years. To apply, you’ll need to provide employment, income and living expense details, as well as your assets and liabilities. 

About Australian Military Bank

Australian Military Bank has been serving Australian Defence personnel and their families with their finances for over 50 years. Founded in 1959 as the Navy (Civil Staff) Co-op Ltd., Australian Military Bank has grown to have over 50,000 members and 30 branches at major defence bases around Australia. Australian Military Bank provides an array of financial products, including credit cards, home loans, personal loans, car loans, bank accounts, insurance and superannuation.

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