Best introductory credit card offers May 2017
The best bonus deals and how to maximise your chances of approval.
From 0% interest on debt to bonus points and cashback, credit card companies regularly provide a variety of benefits for new customers that have the potential to add hundreds of dollars value to the card you choose. They also come with requirements you need to meet to be eligible for the offer and only last for a limited time.
To save you sifting through new offers based on card or category, here we’ve rounded up the best offers for May based on potential dollar value, card costs and eligibility requirements. So now you can find not only the latest credit card deals but also what you need to do to get them.
Best 0% balance transfer offer
Westpac Low Rate credit card
This exclusive offer for online applications provides 0% p.a. on balance transfers for 24 months (usually 0% for 12 months). This gives you up to two years to pay off existing debt interest-free. At the end of the introductory period, any debt remaining from the transfer will attract the standard variable purchase rate for the card, currently 13.49% p.a.
In terms of upfront costs, there is also a balance transfer fee worth 2% of the debt and an annual fee of $59. But if you’ve got serious debt you want to pay off, the potential savings far outweigh these costs.
What do I need to know to get this offer?
Here are the key details you need to know to enjoy 0% p.a. for 24 months on your balance transfer.
- Apply online by 28 June 2017. This offer is exclusive to online applications made by 28 June 2017. So make sure you click the “Go to Westpac’s website” link to be taken to the secure application page.
- Eligible debts. You can request to transfer a balance or balances from up to three non-Westpac Australian issued credit, charge or store cards.
- Request the balance transfer when you apply. You need to include details of the debt you want to move to the Westpac Low Rate at the time of your application. This includes the account name/s, number and the financial institution it’s with, so have this info handy when you apply to speed up the process.
- Balance transfer amount. You can transfer a minimum debt of $200 and up to 95% of your approved balance.
Alternative offer: Bankwest Breeze MasterCard
The Bankwest Breeze has a similar balance transfer offer of 0% p.a. but for 21 months instead of 24. It also has a 2% balance transfer fee and an annual fee of $59 but a lower standard variable purchase rate of 12.99% p.a. that will apply to the debt if you don’t pay it off in the introductory period.
Best reward or frequent flyer bonus point offer
ANZ Frequent Flyer Black credit card
If you’re a Qantas Frequent Flyer, this super-premium credit card could boost your balance with 75,000 bonus Qantas Points and an extra 75 Status Credits to go towards a higher membership level. It also offers an annual fee waiver in the first year (normally $425).
What do I have to do to get this offer?
Here are the key requirements for the bonus points and Status Credits:
- Online applications only. These offers are only available if you apply for the ANZ Frequent Flyer Black online.
- Bonus point minimum spend. To get the bonus 75,000 Qantas Points, you need to spend at least $2,500 on eligible purchases in the first 3 months. This covers most everyday purchases but excludes cash advances and other transactions such as fee payments or balance transfers.
- Status Credit application deadline. The bonus 75 Status Credits are only available if you apply for your card online by 30 June 2017.
- Status Credit spend. If you want to enjoy an extra 75 Status Credits for your Qantas Frequent Flyer membership, you need to use your card to book a new Qantas return flight (excludes Classic Flight Rewards, partner or codeshare flights) by 30 September 2017.
Alternative offer: American Express Explorer
The Amex Explorer currently offers a massive 100,000 Membership Rewards when you apply by 15 May 2017 and spend $1,500 within the first 3 months of having the card. These points can be redeemed for travel, gift cards and merchandise or transferred to many frequent flyer program partners including Velocity and Krisflyer and Emirates Skywards.
It also comes with a variety of travel perks (including a $400 travel voucher) and has a slightly lower fee than the ANZ Frequent Flyer Black. But there’s a very limited window of time left to compare and apply if you want to enjoy this bonus point offer. If you’re seeking more rewards, you may also want to check out our Rewards Roundup for all kinds of card and lifestyle offers.
Best cashback credit card offer
This no annual fee card currently offers new customers 5% cashback on purchases made in the first 90 days of account opening. There is a cap of $1,000 worth of purchases, giving you a maximum of $50 cashback. While that may not seem like a lot of money, it does give you a way to earn more for simply using the card – providing you pay your balance off in full by the due date to avoid interest charges.
What do I need to do to get this offer?
Here's how to get cashback with the Citi Simplicity credit card:
- Apply by 30 June 2017. This cashback offer is only available if you apply for the Citi Simplicity by 30 June 2017, are approved and make eligible purchases within the first 90 days.
- Eligible purchases. The cashback will be credited to eligible purchases made on both the primary card and any secondary card linked to the account. While most everyday transactions count as “eligible purchases”, exclusions include cash advance transactions, balance transfers, fees, BPAY payments and government charges.
- Cashback credit. The cashback you get from this card will be credited to your Citi Simplicity account within eights weeks after the qualifying purchases have been made.
Alternative offer: ANZ Rewards Platinum
This platinum rewards card currently offers $250 in the form of a Westfield Gift Card but requires you to spend $2,500 in the first 60 days from when your application’s approved. So, while it does offer a greater benefit than the Citi Simplicity in terms of dollar value, it also has more hoops to jump through. But if you can easily spend $2,500 in 2 months without carrying a balance and you have a Westfield nearby, check out the other features and fees of this card to decide if it’s worth it for you.
Each of these introductory offers give you a way to get extra value from the card you choose, as long as you meet the eligibility requirements. You can also check out our guide to credit card introductory offers to compare a full range of promotions currently on the market.
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