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Can you get a credit card from a different bank without a savings account?

You don’t need to get a credit card from the same bank you have your transaction and savings accounts with. There are actually some benefits in opting for a different one.

While getting a credit card with the same bank as your debit card provider might offer some convenience, there are some perks to switching to a different bank when applying for a new credit card. Use this guide to weigh up your options and decide whether or not you should get a credit card with your current bank or a different provider.

Getting a credit card with the same bank as your debit account vs with a different bank

There are perks to both staying with your existing bank and signing up to a new one when you’re on the market for a credit card. If you’re having trouble deciding, use the comparison below to determine which strategy is right for you.

Getting a credit card with your existing bank

  • The familiarity of banking with the one institution. If you have banked with the same institution for a while, there are some benefits to staying loyal. If you have a savings account with a bank, for example, you’ll be familiar with the services that the bank offers. You’ll also know what to expect from the customer service team and hopefully there will be some branches nearby.
  • Simple application process. When you apply for a credit card, the lender assesses your approval based on a number of factors including your income, repayment history and credit history. If you’re applying for a credit card with the same bank, they can access your debit card history and also assess your approval based on your ability to save and your spending behaviour. If you’re good at saving, spend responsibly and don’t overdraw your account, this could work in your favour. The fact that your bank already has your details could also mean that you won’t need to submit some basic details when you’re filling out your application.

Getting a credit card with a new bank

  • Promotional offers. If you’re looking for a new credit card, applying for a card with a sign-up promotional offer could help sweeten the deal. For example, some credit cards offer 0% on purchases for a set period, interest-free days on balance transfers and bonus points with a rewards or frequent flyer program. These offers are usually only available for new applicants and may not be available if you already bank with the provider. If you do want to take advantage of a promotional offer like this, comparing credit cards with a different bank could provide you with more options.
  • Getting a better deal. While sticking with the same bank might offer convenience, you could be missing out on more competitive deals if you fail to compare your options beyond your regular provider. If you’re unsure where to start, using the comparison tables on finder.com.au is a simple way to compare your options side-by-side. Pay attention to the annual fees, interest rates and features such as rewards, complimentary insurances and more to see how the cards with your usual provider compare to the other options on the market.

Compare credit cards with an introductory offer

Rates last updated May 27th, 2019
$
% p.a.

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Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
Citi Clear Platinum Credit Card
0% p.a. for 14 months
12.99% p.a.
$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
0% p.a. for 18 months
20.74% p.a.
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
St.George Vertigo Classic - Online Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Online only: Low rate card offering 0% p.a. interest on purchases for the first 14 months. Plus, a $0 first year annual fee.
Qantas Premier Platinum
0% p.a. for 18 months
19.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Get 70,000 bonus Qantas points when you meet the spend criteria and 30,000 more after the first year (100,000 total). Ends 30 May 2019.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 75,000 bonus points in the first 3 months and save with a $64 first year annual fee. Plus, a long-term balance transfer offer.
HSBC Platinum Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$129 p.a.
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
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.
Westpac Low Rate Card
0% p.a. for 18 months
13.74% p.a.
$59 p.a.
A low rate card offering 0% p.a. on balance transfers for 18 months and a competitive purchase rate.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
$45 p.a.
A no-frills card with a competitive annual fee, a low variable purchase interest rate of 11.99% p.a. and up to 55 interest-free days on purchases.
ANZ Low Rate
0% p.a. for 15 months
12.49% p.a.
$58 p.a.
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.
Citi Rewards Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months
0% for 13 months, reverts to 20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
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.
Citi Rewards Platinum Credit Card - Exclusive Bonus Points Offer
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Enjoy 100,000 bonus Citi reward Points when you spend $3,000 within the first 90 days. Plus, save with a $49 first year annual fee.
Suncorp Clear Options Platinum Credit Card - Online Offer
0% p.a. for 18 months
20.74% p.a.
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% balance transfer offer and get up to 60,000 bonus points. Plus, a $49 first year annual fee when you apply online.
Commonwealth Bank Awards Credit Card
5.99% p.a. for 5 months
20.24% p.a.
$59 p.a.
Get 30,000 bonus CommBank Awards points when you spend $2,000 on eligible purchases with your new card by 31 October 2019.
Commonwealth Bank Diamond Awards Credit Card
5.99% p.a. for 5 months
20.24% p.a.
$349 p.a.
Get 120,000 bonus CommBank Awards points when you spend $6,000 on eligible purchases with your new card by 31 October 2019.
Citi Simplicity Card
0% p.a. for 6 months
19.99% p.a.
$0 p.a.
Get 0% p.a. interest for up to 6 months on balance transfers with no balance transfer fee. Plus, a $0 annual fee for life.
NAB Low Fee Card
0% p.a. for 6 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance and 0% p.a. for 6 months on balance transfers.
HSBC Platinum Qantas Credit Card
0% p.a. for 12 months
19.99% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Save with a $0 first year annual fee and a long-term balance transfer offer. Plus, complimentary travel insurance.
American Express Westpac Altitude Platinum Bundle - Qantas
20.24% p.a. (AMEX)

20.49% p.a. (Visa/MC)

$99 p.a. annual fee for the first year ($249 p.a. thereafter)
Up to 75,000 bonus Qantas Points when you meet the criteria with this dual Mastercard (issued by Westpac) & Amex (issued by Amex).

Compare up to 4 providers

As you can see, there are a few options to consider when deciding if you should stay with your current bank or look for a credit card elsewhere. Whether or not you’re content to remain with your existing issuer, you should still compare your other options to make sure you’re making the right credit card decision for you.
Images: Shutterstock

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6 Responses

  1. Default Gravatar
    bbApril 18, 2019

    what is the minimum transfer amount, i am getting a credit card from another bank. thanks.

    • Avatarfinder Customer Care
      NikkiApril 19, 2019Staff

      Hi BB,

      Thanks for getting in touch with Finder! If you are referring to a balance transfer credit card application, the minimum transfer amount will depend on the approved amount given to you by the bank. As a friendly reminder, review the eligibility criteria of the card before applying and read up on the terms and conditions of the card. Feel free to reach out to the bank if you need any clarifications.Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    MasoomMay 5, 2018

    I have a savings bank account but I m a student and have no regular savings. Now, can I apply for credit card?

    • Avatarfinder Customer Care
      JeniMay 6, 2018Staff

      Hi Masoom,

      Thank you for getting in touch with finder.

      Regarding your enquiry, you you must have enough income to service the minimum credit limit available on the card. Income can include your wages from full- or part-time work, as well as Centrelink payments and even student scholarships in some cases. If you do not have a source of income, you can consider a supplementary card on a parent or guardian’s credit account or a Visa debit or Mastercard debit card.

      If you want to know a list of credit card issuers that offer student credit card, please check out this link.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  3. Default Gravatar
    RedMarch 22, 2018

    How can i get a credit card even if I don’t have savings account?

    • Avatarfinder Customer Care
      JhezMarch 22, 2018Staff

      Hi Red,

      Thank you for your comment.

      As long as you meet the eligibility criteria, you can apply for a credit card even if you do not have a savings account. You have to carefully check the requirements, terms and conditions and eligibility before you submit an application. See our page to know the requirements to apply for the credit card and to be able to get some tips as well.

      Regards,
      Jhezelyn

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