Best Australian Credit Card

From premium credit cards that offer points and other perks to 0% interest options and no-frills accounts, here’s how to find the best Australian credit card for you.

Last updated:

Everyone has a different opinion about which credit card is the best option in Australia. For some people, it could be a frequent flyer card that offers thousands of introductory bonus points, while for others it could be a balance transfer card that offers 0% p.a. for 24 months or more. There are also people that prefer high-end cards with premium perks, or those who think no-frills cards with low ongoing costs are ideal.

What all of these options show is that the best credit card actually varies depending on your goals, needs and preferences. So instead of rushing to apply for a card that someone else has singled out as the “best Australian credit card”, you can use this guide to compare different options based on your goals and find a card that works for you.

How to find the best Australian credit card for you

The key to finding the best credit card for you is to think about why you want a credit card and what you'll use it for. To get started, think about the following questions:

  • What is the main reason for getting a credit card? Is it to pay off existing debt, earn rewards or enjoy perks such as complimentary travel insurance? Once you have narrowed down your focus, you can start looking at cards that offer these particular features.
  • Will I carry a balance? Credit cards attract interest charges if you don't pay off your account at the end of each statement period. So if you want the flexibility to pay off your balance over time, you could look at cards with low ongoing interest rates to help keep costs down.
  • How much am I willing to pay in fees? As well as charging interest when you carry a balance, most Australian credit cards have an annual account fee. This could be as low as $25 or as high as $700 or more, depending on the card. So think carefully about how much you want to pay for the card and weigh this against the value you could get from any extras such as rewards or complimentary insurance.

Once you have answered these questions, you can compare credit cards based on your goals.

Compare some of the best credit cards

Rates last updated August 23rd, 2019
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate Product Description
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
Up to 44 days on purchases
$50 p.a.
0% p.a. for 18 months
Ongoing Annual Fee Discount & Bonus Points
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
St.George Vertigo Classic - Exclusive Offer
0% for 14 months, reverts to 13.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% p.a. for 6 months
Introductory Purchase Rate and $0 Annual Fee Offer*
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
Up to 55 days on purchases
$129 p.a.
0% p.a. for 22 months
Annual Fee Refund & Balance Transfer Offer*
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Citi Clear Platinum Credit Card
12.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 14 months
Platinum Credit Card with a Low Interest Rate *
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
St.George Vertigo Platinum
12.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 18 months
Low Rate Platinum Credit Card Offer
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.
Citi Rewards Platinum Credit Card
20.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 15 months with 1% balance transfer fee
Bonus Points & Balance Transfer Offer
Get up to 120,000 bonus rewards Points when you meet the spend requirements. Plus, save with a $49 first year annual fee.
Latitude 28° Global Platinum Mastercard
21.99% p.a.
Up to 55 days on purchases
$0 p.a.
International Shopping Credit Card
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes, global wifi access and a concierge service.
ANZ Low Rate
12.49% p.a.
Up to 55 days on purchases
$58 p.a.
0% p.a. for 15 months
Long-Term Balance Transfer Offer*
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
St.George Amplify Platinum - Qantas
19.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 6 months
Earn 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas points per $1 spent.
Citi Rewards Platinum Credit Card - Exclusive Offer
0% for 13 months, reverts to 20.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 13 months
0% p.a. Purchase & Balance Transfer Offers*
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
Up to 44 days on purchases
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 18 months
Up to 75,000 bonus Velocity Points Offer*
Earn up to 75,000 bonus Velocity Points and save with a $64 first year annual fee. Plus, a long-term balance transfer offer.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
Up to 55 days on purchases
$45 p.a.
0% p.a. for 18 months with 2% balance transfer fee
Low Rate Credit Card*
Take advantage of 0% p.a. for 18 months on balance transfers, plus a low variable purchase interest rate of 11.99% p.a. on purchases.
Citi Rewards Platinum Credit Card - Balance Transfer Offer
20.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
0% p.a. for 26 months with 1.5% balance transfer fee
Balance Transfer and First Year Annual Fee Offer
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus $0 first year annual fee.
BOQ Low Rate Visa Credit Card
13.49% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 14 months
A no-frills card offering 0% on balance transfers for the first 14 months with no balance transfer fee. Plus, a competitive purchase interest rate.
St.George Vertigo Classic
13.99% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 16 months
Low Annual Fee with Balance Transfer Offer*
Get 0% p.a. interest for up to 16 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
Latitude Low Rate Mastercard
11.99% p.a.
Up to 55 days on purchases
$69 p.a.
Low Rate Credit Card Offer*
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.
BOQ Platinum Visa Credit Card
20.74% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 12 months
Enjoy 1,000 bonus Q Rewards points monthly when you meet the spend requirement, a 12-month balance transfer offer and $0 first year annual fee.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
20.74% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 20 months
Discounted First Year Annual Fee & Balance Transfer Offer*
Finder Exclusive ends 31 August 2019:
Save with a 0% balance transfer offer and a $49 first year annual fee when you apply online.
Qantas American Express Discovery Card - Exclusive Offer
20.74% p.a.
Up to 44 days on purchases
$0 p.a.
0% p.a. for 12 months with 1% balance transfer fee
Finder Exclusive:
Earn 10,000 bonus Qantas Points when you apply before 17 September 2019 and spend at least $750 within the first 3 months of card approval.
Westpac Low Rate Card
2019 Winner
Westpac Low Rate Card
13.74% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 16 months
0% p.a. Balance Transfer Offer*
A no frills, low rate card offering 0% p.a. interest on balance transfers for the first 16 months, with no balance transfer fee.
HSBC Platinum Credit Card
0% for 12 months, reverts to 19.99% p.a.
Up to 55 days on purchases
$129 p.a.
0% p.a. for 12 months
Annual Fee Refund & Balance Transfer Offer*
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
NAB Qantas Rewards Signature Card
19.99% p.a.
Up to 44 days on purchases
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
0% p.a. for 6 months with 2% balance transfer fee
Bonus Qantas Points Offer*
Collect up to 120,000 bonus Qantas Points. Get 90,000 when you spend $3,000 on eligible purchases in the first 60 days and 30,000 after 12 months.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% for 14 months, reverts to 20.74% p.a.
Up to 44 days on purchases
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 6 months
0% for 14 months Purchase Offer with Virgin Australia Gift Voucher*
Enjoy 0% p.a. interest on purchases for 14 months, a reduced first year annual fee and Velocity Points per $1 spent.

Compare up to 4 providers

*The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

Different types of credit cards

Most credit card websites and comparison services separate cards based on different features. This can help you narrow down your search for a credit card when you know what you want. If you're still not sure what type of credit card is right for you, here's a brief rundown of some of the most popular credit card categories in Australia.

Balance transfer credit cards

If you're struggling to repay an existing credit card debt, you can transfer your balance to a card with 0% on balance transfers. You can then pay off your debt faster without paying any interest for a promotional period. The introductory period will vary from card to card, but it's not uncommon to come across cards with interest-free periods from 12 to 24 months or more.

At the end of the promotional period, any remaining debt will collect the revert rate (which is usually the standard cash advance or purchase interest rate). This means you should pay more than the minimum repayment and aim to clear the entire debt before the introductory offer ends. Please note that these cards often come with annual fees and balance transfer fees (which is usually 2%-3% of the balance transfer amount).

Frequent flyer credit cards

If you're a regular traveller and big spender, you could consider a frequent flyer credit card that'll earn points for every dollar you spend. In Australia, some of the most popular frequent flyer credit cards are linked to the Qantas Frequent Flyer program or Virgin Australia's Velocity frequent flyer scheme. Many of these cards offer thousands of bonus points on sign up and when you meet the spend requirement, which can help you boost your points balance. You'll also earn points for every $1 you spend on eligible purchases, although the specific earn rates will vary between cards. Once you've earned enough points, you can redeem them for flight rewards, flight upgrades, accommodation, travel packages and more.

Designed to suit travellers, these cards also often come with travel-centric perks including complimentary international travel insurance, airport lounge passes, travel credits or complimentary flight vouchers and concierge services. Although these cards are packed with perks, they usually come with higher annual fees and purchase rates. As such, these cards are better suited to cardholders who can earn enough points to outweigh the annual fee and can afford to pay their balance in full each month.

Rewards credit cards

Many card issuers offer rewards credit cards that are linked to the bank's own loyalty program. Similar to frequent flyer cards, these products also often come with bonus points offers and their own specific earn rates. However, you can usually redeem your points for products from the reward program online store including gift cards, merchandise, experiences and more.

Many bank loyalty programs are also partnered with frequent flyer programs, so you can transfer your points to specific airline loyalty programs. This can come in handy if you prefer your points to have a little more flexibility or if you belong to a frequent flyer program that isn't directly linked with any credit cards in Australia (such as Singapore Airlines' KrisFlyer or Air New Zealand's Airpoints). Just keep in mind that these cards also generally come with higher annual fees and interest rates, so they're not suited to cardholders who carry a balance from month to month.

Cheapest credit cards

The cheapest credit card for you will depend on how you're using the card. If you only use your card for emergencies or always pay your balance in full, you could benefit from a card with $0 annual fee. Or if you struggle to pay off your credit card in full each month, you could reduce interest costs with a card with 0% on purchases for a promotional period or a low ongoing purchase rate. To find the cheapest credit card, make sure to consider how you're going to use the card and the fees you're most likely to collect before you apply.

Choose the best card for you

With so many different options to choose from, finding the best credit card for you will depend on your personal financial situation and spending habits. To get started, check our finder's guide to the best credit cards.

Picture: Shutterstock

Back to top
Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

2 Responses

  1. Default Gravatar
    JimMarch 20, 2013

    Which credit cards don’t charge transaction fees for international travel? If it is frequent flyer card even better.

    • Avatarfinder Customer Care
      MarcMarch 20, 2013Staff

      Hello Jim,
      thanks for the question!

      This guide goes through some of the different cards in the market which don’t charge a transaction fee for international purchases, as well as tips for avoiding the other fees you may pay while travelling.

      I hope this helps,
      Marc.

Credit Cards Comparison

Rates last updated August 23rd, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
Go to site