Best introductory credit card offers October 2017
From 0% interest rates to bonus points and frequent flyer status credits, here's how you can get more from your next credit card.
Whether you want to get rid of existing debts, save on upcoming expenses or earn points and other benefits from your spending, credit card introductory offers give you an opportunity to fast-track your goals. These promotions are often one of the first things you'll see when you're comparing credit cards and can add a huge amount of value to the card you choose – as long as you meet the specific terms and conditions for each offer.
Here, you can check out this month’s top balance transfer, rewards and 0% purchase rate offers from the finder database based on the potential dollar value, card costs and what you need to do to take advantage of each deal.
Rates and fees are correct as of 3 October 2017 but may change subsequently.
Best 0% balance transfer offer
St.George Vertigo Platinum
This low rate credit card from St.George gives you 0% p.a. on balance transfers for 24 months, with a one-time 2% balance transfer fee. At the end of the two-year introductory period, any debt remaining will be charged interest at the standard variable cash advance rate, currently 21.49% p.a. The St.George Vertigo Platinum has an annual fee of $99 p.a. and comes with a range of complimentary insurance covers for travel and purchases, including international travel insurance.
What do I have to do to get this offer?
Here’s how you can enjoy 0% p.a. on your balance transfer for 24 months with the St.George Vertigo Platinum:
- Apply by 22 November 2017. This balance transfer offer is available if you apply by 22 November 2017.
- Request the balance transfer at the time of your application. To get the 0% p.a. for 24 months offer, you’ll need to request your balance transfer when you apply for the St.George Vertigo Platinum. There is a section of the application where you can include these details.
- Eligible debts. You can request to transfer balances from up to three Australian-issued credit, charge or store cards, as long as they are not issued by St.George, Bank of Melbourne or BankSA.
- Balance transfer amount. The minimum you can transfer is $200 and you can request a balance transfer for up to 95% of your approved credit limit.
- Balance transfer fee. This offer attracts a 2% fee of the amount balance transferred to your St.George Vertigo Platinum. For example, if you transfer $3,000, then a charge of $60 will be added to your card.
Alternative offer: Citi Rewards Platinum
If you want to consolidate debt and switch to a card that offers rewards, this Citi Rewards Platinum offer gives you 0% on balance transfers for 24 months with a 1.5% balance transfer fee. It also offers a reduced annual fee of $49 in the first year ($149 p.a. thereafter) and earns 1 point per $1 spent on purchases, up to 10,000 points per month on domestic spending and unlimited earning on international spending. Citi is also one of the only providers that accepts balance transfers from personal loans as well as store, charge and credit cards.
Best rewards or frequent flyer bonus point offer
American Express Velocity Platinum
In what could be game-changing for frequent flyer credit cards, the American Express Velocity Platinum is now offering you both 50,000 bonus points and 100 Status Credits. To get the bonus Velocity points, you need to apply online and spend at least $1,500 in the first 3 months from card approval. The 100 Velocity Frequent Flyer Status Credits, on the other hand, are offered when you spend at least $50,000 on eligible purchases per year.
To put this in perspective, if you were travelling with Virgin Australia between Melbourne and Sydney on an economy class ticket, you’d need to make between 20 and 5 flights to earn 100 Status Credits (depending on the fare class you’re travelling in). As well as these offers, the Amex Velocity Platinum comes with an annual complimentary domestic return flight, Virgin Australia lounge invitations, complimentary insurance and an annual fee of $375.
What do I have to do to get this offer?
Here’s how to boost your Velocity account with both bonus points and more Status Credits:
- Apply online. To get the bonus 50,000 Velocity Points, you need to apply for this card online.
- New cardmembers only. The bonus points offer is available if you don’t currently have a card issued by American Express and haven’t had one within the past 18 months. You’re also eligible if you have a previous or existing bank-issued American Express companion card (e.g. one from ANZ, CommBank, NAB or Westpac).
- Bonus point spend criteria. You’ll need to spend at least $1,500 on eligible purchases in the first 3 months from card approval to get the 50,000 bonus points.
- Status Credit spending requirements. To earn 100 Status Credits, you need to spend at least $50,000 on eligible purchases within your Cardmember Year. That is 365 days from the anniversary of when you got your American Express Velocity Platinum.
- Eligible purchases. For both the bonus points and Status Credits, eligible purchases include most everyday transactions. But the following types of transactions won’t count towards your spending requirements: cash advances, interest, balance transfers, fees and charges for traveller’s cheques and foreign currencies.
- Velocity membership levels. While 100 Status Credits can help you reach Silver, Gold or Platinum status, it’s worth noting that you’ll also need to fly with Virgin Australia in “Eligible Sectors” to upgrade or maintain your membership level.
Alternative offer: Westpac Altitude Black – Altitude Qantas
If you prefer to fly with Qantas, you can get a massive 100,000 bonus Qantas Points when you apply for the Westpac Altitude Black by 26 October 2017 and opt to earn Qantas Points instead of Altitude Rewards points. You’ll get 20,000 bonus points on card approval and can collect the remaining 80,000 points by spending $5,000 in the first 90 days. That’s enough for a return economy flight from Sydney to San Francisco (90,000 Qantas Points) or a return business flight to Denpasar, Bali (100,000 Qantas Points).
Best 0% purchase credit card offer
Bankwest Breeze Platinum
The Bankwest Breeze Platinum is at the top of the pack for the second month in a row when it comes to 0% purchase offers. With this card, you’ll get 0% p.a. on purchases for the first 13 months and can also take advantage of 0% p.a. on balance transfers for the first 13 months, with a 2% balance transfer fee. After these introductory periods end, a competitive, standard variable interest rate of 12.99% p.a. kicks in for any debt you’re carrying on the card.
The Bankwest Breeze Platinum also comes with the benefit of complimentary insurance and $0 foreign transaction fees (which could be ideal for any online shopping you do over the Christmas period). It also has an annual fee of $99.
What do I have to do to get this offer?
Here’s how you can get 0% interest on purchases and balance transfers for 13 months with the Bankwest Breeze Platinum.
- Limited time offer. This offer doesn’t list an end-date but may be withdrawn or changed at any time without notice. Make sure you check the rates and fees listed before you apply so you know this offer is still available.
- New customers only. You can only get this offer if you’re a new Bankwest Breeze customer.
- Introductory purchase period. The 0% p.a. interest rate on purchases is available for 13 months from the date the card is opened, regardless of when a purchase is processed by Bankwest.
- Eligible purchases. Most everyday transactions are eligible for the promotional 0% purchase rate. But if you get cash out or make any other cash advance transactions, the card’s standard variable cash advance interest rate will apply.
- Eligible balance transfer debts. If you want to take advantage of the 0% p.a. for 13 months introductory balance transfer offer, you’ll need to request it at the time of your application. Note that only non-Bankwest-branded credit cards can be balance transferred to the Bankwest Breeze Platinum and it will charge a one-time fee of 2%.
Alternative offer: ANZ Platinum
If your goal is to save on credit card costs in the lead-up to Christmas, this exclusive ANZ Platinum offer gives you 0% p.a. on purchases for the first 3 months and has a $0 annual fee in the first year ($87 p.a. thereafter). It also offers 0% on balance transfers for the first 12 months with no balance transfer fee.
While you can benefit from any of these introductory offers, the key is to find a card that suits your specific spending habits and goals both now and in the future. So remember to look at both the promotional requirements and ongoing features for a number of credit cards before applying for one that's right for you.