Defence Bank Credit Card

Defence Bank Credit Card

Highlights

  • 3.99% for 6 months on balance transfers, purchases, and cash advances (reverts to 8.99% p.a. thereafter).
  • Low 8.99% p.a. ongoing interest rate on purchases and cash advances.
  • Up to 55 days interest-free on purchases.

Pros and cons

Pros

  • The low-interest rate for purchases and cash advances.
  • Even lower interest rate for the first 6 months on balance transfers, purchases, and cash advances.
  • Get an additional cardholder at no extra cost.
  • Compatible with digital wallets from Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.

Cons

  • No rewards program.
  • Basic card with no frills and perks.

Our review

Convenience

Customer service

Rates and fees

Rewards

Trust

The basics

  • Additional cardholders. Defence Bank Credit card allows one additional cardholder at no extra cost.
  • Digital wallets. This card is compatible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay.
  • Gambling transactions. Gambling transactions are blocked on this card.

Rewards and benefits

  • Complimentary travel insurance. Unfortunately, the Defence Bank Credit Card does not offer complimentary international travel insurance.
  • Concierge services. The Defence Bank Credit Card does not provide access to a concierge service.
  • Insurances. This card comes with fraud protection.
  • Rewards points. This credit card does not have a rewards program.
  • Sign up bonus. Defence Bank does not offer a sign up bonus for this card.

Rates and fees

  • Annual fee. This card has an ongoing annual fee of $45.
  • Balance transfers. Defence Bank Credit Card has a balance transfer offer of up to 100% of your existing credit limit, with a 3.99% p.a. interest rate for the first 6 months, reverting to 8.99% p.a. after that period expires.
  • Cash advances. Unlike many cards, there is an introductory offer of 3.99% p.a. on cash advances. This reverts to the standard 8.99% p.a., which is very low compared to the average. Interest on cash advances accrues from the transaction date.
  • Foreign exchange fee. A 3% foreign transaction fee will be applied to all purchases made online or overseas in a foreign currency.
  • Interest-free period. This card offers up to 55 days interest-free on purchases (except cash advances) when you pay the account balance in full or make the minimum required payments.
  • Purchases. Take advantage of the 3.99% p.a. introductory offer on purchases for 6 months. After that, you will be charged 8.99% p.a. on purchases made with this credit card.

Nilooka Dissanayake

Reviewed by Nilooka Dissanayake

Writer

User reviews

Convenience

Customer service

Rates and fees

Rewards

Trust

Very pleased with this card

Reviewed by Jason

I pay it off regularly and there’s a very good interest rate. Being a defence member, the bank really looks after you. The card is very secure when using over the internet. I have had the card for 10 years and wish I had got one when I first joined the Army 22 years ago.


Customer service is second to none

Reviewed by Kat

This card is issued by a great bank and overall is a great card. Fees are pretty standard but it is very convenient to use at any ATM


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