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Welcome to Credit Card Finder®, where we've been researching, reviewing and comparing credit cards for over 15 years. If you're trying to cut down your interest payments, rack up points or get a new card for that next big purchase, you can use Finder to compare over 270 credit cards available in Australia. When you find one you're looking for, click the Go to Site button and we'll take you directly to the bank's website to apply securely online.
Are some of the terms on this table a little confusing? We get it. Jump down to our handy glossary to learn about key features and how to compare cards.
The Australian government's Scamwatch service reported at the end of September that there had been a record $211 million in losses to scams so far this year. This is an 89% increase compared to the same period last year.
The Australian Competition and Consumer Commission Deputy Chair Delia Rickard said in a statement that this was a big concern right now "as many people are turning to online shopping because of the COVID-19 lockdowns." If you're worried about card fraud or scams, there are simple ways to keep your credit card and other details safe.
As competition between credit cards and buy now pay later (BNPL) continues to grow, Mastercard has launched a new BNPL program that gives banks, lenders, fintechs, and wallets another way to offer flexible instalment options to consumers. Ultimately, this should mean more ways to shop and pay 0% interest, whether you're using a credit card or BNPL.
And on a greener note, American Express has recently committed to net-zero carbon emissions by 2035. The company has been carbon neutral since 2018, and is ramping up its sustainability initiatives – including putting $10 million in new philanthropic funding toward initiatives that address climate change.
We'll keep updating this section over the course of the month to keep you up-to-date with everything credit cards.
Updated by Amy Bradney-George on 1 October 2021
So let's take it back to basics.
A credit card is a convenient way to pay for things. While a debit card requires money in your bank account to make a purchase, a credit card lets you borrow money which you then pay back over a certain period of time, usually with interest. It's useful for people who don't have enough money to pay for something or those who don't want to pay the entire amount immediately. It's also an easy way to "get something for nothing" with reward points. Some people also use credit cards to improve their credit history.
If you pay off your credit card balance on time, it can be kind of like an interest-free loan. If you can't pay on time, your purchases will begin collecting interest on top of the amount owed. That's why it's so important to get a credit card that suits your income and circumstances.
There are a few different types of credit cards available, which is great if you've got a specific purpose in mind. Not 100% sure which card to go with? We've rounded up some of our top picks and dropped them into each of the different categories below. Just keep in mind that there's no set card that's best for everyone, so make sure you check your eligibility before you apply. You can learn more about the best credit cards here.
If you're struggling with existing credit card debt and are being charged a motza in interest rates, it might be time to explore balance transfer credit cards. These allow you to move your existing credit card debt over to a new balance transfer credit card, where you'll pay low – or no! – interest for a certain amount of time.
⭐ Hot tip: Look for a balance transfer card with a low annual fee and a long introductory period!
| Card | Current offer | Annual fee | |
|---|---|---|---|
| HSBC Platinum Credit Card |  | Save with 0% interest on balance transfers for the first 36 months with no balance transfer fee. Plus, complimentary travel insurance and HSBC Rewards Plus. | $29 annual fee for the first year ($129 thereafter) |
This one kind of speaks for itself – you'll pay no annual fees on this card, either ongoing or just for the first year. If you're only going to use your card a few times a year and you plan on paying back your balance in full each month, a no annual fee card could be right up your alley as you'll have almost no additional expenses.
⭐ Hot tip: Keep an eye on interest rates as they can be pretty high on these cards.
| Card | Current offer | Annual fee | |
|---|---|---|---|
| Coles No Annual Fee Mastercard |  | 0% p.a. interest on balance transfers for the first 12 months. Plus, $150 off a Coles Supermarket shop when you spend at least $1,000 in the first 60 days | $0 |
Not sure if you're able to pay off your bill in full each month? A low interest credit card could help. These cards will allow you to buy what you need without racking up too much interest so you can keep your borrowing costs low.
⭐ Hot tip: Look for cards with interest rates of 14.99% p.a or less. Watch out for annual fees as they can be higher on these cards.
| Card | Current offer | Annual fee | |
|---|---|---|---|
| ANZ Low Rate Card |  | Save with 0% p.a. interest on balance transfers for the first 30 months with no balance transfer fee. Purchase interest rate of 12.49%. | $0 annual fee for the first year ($58 p.a. thereafter) |
Spend money and get rewarded? Sign us up. Rewards credit cards let you accumulate points every time you pay for something, which can then be cashed in for things like shopping vouchers, petrol, frequent flyer points and more. If you're likely to spend more money on your credit card and pay your bill in full each month, this could be a good option for you.
⭐ Hot tip: Look for cards with a bonus points offer. This is usually the quickest way to build your balance.
| Card | Current offer | Annual fee | |
|---|---|---|---|
| Citi Rewards Card – Bonus Points Offer |  | Get 100,000 points when you spend $3,000 on eligible purchases within the first 90 days. Plus, complimentary insurance. | $49 annual fee for the first year ($149 thereafter) |
Love to travel? Love to shop? Combine your passions and explore a frequent flyer credit card. Whenever you make a purchase on your card, you'll accumulate points which you can then redeem on sweet perks such as a free holiday, seat upgrades and even the newest iPhone.
⭐ Hot tip: Look for bonus points offers and other perks such as insurance and airport lounge passes.
| Card | Current offer | Annual fee | |
|---|---|---|---|
| Qantas Premier Platinum |  | Get 90,000 bonus Qantas Points when you spend $3,500 on eligible purchases within the first 3 months. Plus, lounge passes and insurance. | $199 annual fee for the first year ($299 thereafter) |
We're going to be straight up – not everyone needs a credit card.
Getting a credit card for the sake of getting a credit card isn't the best idea. You never want to take on debt you don't really need to, especially if you're paying interest on it!
There are also some types of people who might be more susceptible to bad debt. For example, people who tend to impulse shop could rack up unnecessary debt and get into hot water quick.
That being said, if you have a plan for how you're going to use your card and how you're going to pay it off, a credit card can be a great addition to your wallet, helping you improve your credit score and accrue perks and benefits.
Did you know? Finder analysis shows that emergencies, rewards, big-ticket items and building up credit are the four most common reasons for taking out a credit card in Australia.
Still not sure if a credit card is for you? Let's jump into some of the pros and cons to help make that decision easier.
TL;DR: Credit cards have a mix of great perks and understandable risks. A good rule of thumb is to make sure you've got a payment plan in mind and understand your limits.
Not sure what you should actually be looking for in a card? Don't worry, you're not the only one. Here's our breakdown of what features you should be looking at and some things to keep in mind.
| Fee or feature | What is it? | What you should know |
|---|---|---|
| Annual fee | The amount you'll have to pay each year just to use the card. | The more perks and rewards your card has, the higher the annual fee will usually be. |
| Purchase interest rate | The amount of interest you'll pay on your balance if you don't pay your balance off in full by the due date. | The lower the interest rate, the better. However, if you're planning on paying your card off as you go, this shouldn't be a huge deal. A low purchase interest rate is usually below 15% p.a. And there are a few cards around 8.99% p.a. |
| Interest-free period | The amount of time you'll get before you're charged interest on your purchases. Usually, you will have to have paid the previous month's balance off in full to get this. | Most cards offer between 44 and 55 days interest free. More days give you more flexibility and breathing room. |
| Balance transfer rate | If you transfer debt over from another card, this is the interest rate you'll pay. | The lower the interest rate, the longer the time frame and the lower the fee, the better. |
| Cash advance rate | If you take cash out from an ATM or make a cash equivalent transaction (like buying a lotto ticket), you'll pay a one-off cash advance fee plus interest charges straight away. | Avoid cash advances unless it's an emergency. Take cash out on your debit card instead. |
| Foreign transaction fee | What you'll be charged (on top of the interest rate) on purchases made in a foreign currency overseas or online. | This will either be a dollar or percentage amount. The lower this fee, the better if you plan to spend in currency other than AUD. There are plenty of cards on the market with 0% foreign fees. |
| Rewards program | A program that offers points and perks that you can earn while spending. | Perks usually come at the cost of an annual fee. Make sure you'll get enough value out of them to be worth this fee. Common features include points, insurance, lounge passes and premium services. |
Getting a bit overwhelmed with all the options out there? We totally get it. But picking a credit card that's right for you is easy once you narrow down your choices. Follow these easy steps if you find yourself getting lost or overwhelmed.
Yes, a credit card is really convenient, but it also comes with a risk of debt. We already know that if you don't pay off what you owe each month, you'll be charged interest, so here are 3 tips to help you stay on top of your payments and make the most of your credit card without getting into debt.
Want to save money on your credit card or get more value from rewards? These hacks for using your credit card wisely can help.
This comes down to what you want the money for. A credit card might be better for everyday spending, such as petrol, groceries and shopping. A personal loan might be more suitable if you've got a big event or expense coming up, like a wedding, a medical procedure or a car purchase. Credit cards are more popular for shorter-term purchases and earning rewards. Loans, because they usually have lower interest rates, tend to be better for longer-term financing.
This bit is a little technical. You'll need to be over the age of 18 and meet some pretty standard eligibility requirements that include your income, residency status and credit history. If you're looking at a card with more perks and features, you'll come across stricter requirements than your typical card. When you're applying, you'll also need to give the bank your proof of income, residency, identification and information about your assets, expenses and liabilities.
Both applying for and being approved for a credit card will affect your credit score. Each time you apply, it will be recorded on your credit file and may bring your score down for a while. If you miss repayments, your score will also take a hit. But regular payments and responsible use of your credit card can see your score go up. It's all in how you use it.
Yes. But it may be a bit more difficult. It's a good idea to chat to your current bank before applying so that they can give you a bit of guidance. If you can't get a credit card, an unsecured personal loan could also be an option.
The discussion around credit cards vs Afterpay has been going on for years, but both cards and buy now pay later (BNPL) services have different features. Here's a basic breakdown:
The easiest way to apply for a new credit card is online. You click the apply button, agree to some standard terms & conditions and go through a few pages of a form. The whole process takes about 15 minutes and will ask you basic questions about your address, job, living costs and other credit products. You'll be asked to submit some documents to prove your identity and address as well (usually your Medicare card, passport and a recent payslip will do the job).
Credit Card Finder® is a free, Australian-owned service that you can use to compare credit card offers from banks, credit unions and other financial institutions. We've been around since 2006 and keep a database of virtually every credit card on the market in Australia. You can compare cards by bank or brand, read credit card reviews and check out the latest introductory offers. You can use Finder's guides and tables to inform your decision and find the best credit card for you.
When you do find a credit card that you want to apply for, just click the "Go to Site" button in the table or review. This takes you to the official application page, where you can read the full terms and conditions before starting a secure, online application with the bank or lender. This also means that Finder doesn't collect your personal details or information during the application process.
With 0% interest for 14 months on purchases and balance transfers, is this Citi Rewards Card offer right for you?
With 70,000 bonus Qantas Points on offer and up to 1.2 points per $1 spent, how do the features on this CommBank credit card stack up?
A no-frills card offering a $0 annual fee for the first year, $400 back when you meet the spend requirement and a 13.74% p.a. interest rate on purchases.
Check out this card’s long-term interest-free offers on purchases – plus one of the longest 0% balance transfer offers on the market.
The new PayPal Rewards credit card offers no annual fee and points per $1 spent. So how much value can you get from it?
This Citi Clear Credit Card offer includes 0% on balance transfers for 36 months and complimentary insurances. Compare and apply here.
This card offers a competitive rewards program, 150,000 bonus ANZ Reward Points, a first-year annual fee waiver and a range of complimentary insurance covers.
The BankSA Vertigo card offers $300 cashback, a waived first-year annual fee and a low ongoing purchase interest rate.
This card offers a low ongoing purchase interest rate, a $0 first-year annual fee and a $300 cashback offer.
Compare the features of the Bank of Melbourne Vertigo credit card, including a $0 first-year annual fee and a $300 cashback.
Hi expert, I am a NZ citizen staying in Australia with the Special Category Visa. Most of the banks/financial institutions require the applicant to at least have the long term work visa. Is there any that allow me to apply using my SCV ? Thanks
Hi Rob,
All of the banks have their own criteria for residency, which unfortunately are subject to a lot of change (not just the criteria, but the visas themselves). ANZ does not give a requirement for which visa you have, as long as there are at least 9 months remaining. AMEX are often quite easy to deal with. It would be best to give your preferred banks a call directly to obtain more information. Another tip would be to go to the bank with which you have your transaction account and see what they can do for you.
Are there banks in Australia which has credit card instant approval?
Hello Aren,
Yes, there are instant approval credit cards that you can easily apply for. You can use our comparison table to compare the features and benefits of each credit card provider such as purchase rate, balance transfer rate, fees, and credit limits. This way it will be easier for you to see which provider fits you best. It also shows how each type of card evaluates an application and how you would be able to meet their eligibility criteria.
I am after a Visa or Mastercard with the highest rate of points earn per $ spent for Velocity or Qantas.
Hi Kathryn,
You may start comparing Velocity credit cards and Qantas credit cards using our comparison table. Once you have chosen a particular card, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with your application.
Hi I am looking for a business credit card to earn us maximum frequent flyer points
Hi Todd,
You may compare business credit cards with frequent flyer points for your eligible spending. You may use the earned points for rewards such as business flights, flight upgrades, accommodation, and cashback for you and your employees.
I had a CTB credit card for many years and used it to travel overseas with the travel insurance. I did not think we would be travelling again and surrendered it last June. Do you still have that sort of card? My record is on the computer. Did pay I think $90 per year?
Please help.
Hi Peter,
Thank you for getting in touch with finder.
Regarding your query on getting your old credit card back, kindly contact the credit card issuer that you had your old card with to verify if the account is still open or not. If it’s still open, you may request for a replacement card to be sent out since you are travelling again and might use the complimentary travel insurance your card has.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni