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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, and we'll take you directly to the bank's website to apply securely online.

Name Product Purchase rate Interest-free period Annual fee Balance transfer rate
Kogan Money Black Card - Exclusive Offer
20.99% p.a.
Up to 55 days on purchases
$0
0% p.a. for 24 months
0% Balance Transfer Offer & $50 Kogan.com Credit
Finder Exclusive
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $50 Kogan.com Credit and uncapped rewards points.
Coles No Annual Fee Mastercard - Exclusive Offer
0% p.a. for 12 months, reverts to 19.99% p.a.
Up to 55 days on purchases
$0
0% p.a. for 12 months
0% Purchase & Balance Transfer Offers
Finder Exclusive, ends 16 June 2021
Earn 10,000 bonus Flybuys points and save on interest charges with 0% p.a. on balance transfers and purchases for 12 months.
Citi Rewards Card - Balance Transfer Offer
21.49% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 30 months
30-Month Balance Transfer & Annual Fee Discount
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee.
HSBC Platinum Credit Card
19.99% p.a.
Up to 55 days on purchases
$29 annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 36 months
0% Balance Transfer Offer & $29 First-Year Annual Fee
Save money with a 0% balance transfer rate for 36 months (with no BT fee), a first-year annual fee discount and free travel insurance.
ANZ Low Rate
12.49% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($58 p.a. thereafter)
0% p.a. for 30 months
0% Balance Transfer Offer & $0 First-Year Annual Fee
Save with 0% p.a. on balance transfers for 30 months (with no BT fee) and $0 first-year annual fee. Plus a 12.49% p.a. purchase interest rate.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
Up to 55 days on purchases
$64 annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 26 months
$129 Gift Voucher & Balance Transfer Offer
Get 0% p.a. on balance transfers for 26 months, a reduced 1st year annual fee & $129 Virgin Australia Gift Voucher yearly.
Citi Rewards Card - Flybuys Offer
21.49% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 15 months with 1% balance transfer fee
100,000 Bonus Flybuys Points
Get 100,000 bonus Flybuys points (worth $500 Flybuys dollars) when you spend $3,000 in the first 90 days. Plus, a $49 first-year annual fee.
Qantas American Express Ultimate Card
20.74% p.a.
Up to 44 days on purchases
$450
120,000 bonus Qantas Points & 120 Status Credits
Receive 120,000 bonus Qantas Points and 120 Status Credits when you spend $4,500 in the first 3 months. Ends 15 June 2021.
Bankwest Breeze Classic Mastercard
0% p.a. for 15 months, reverts to 9.9% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($49 p.a. thereafter)
0% p.a. for 15 months
0% Purchase Rate & Balance Transfer Offers
Save with 0% p.a. on purchases and balance transfers for 15 months (with no BT fee). Plus, a $0 first-year annual fee.
NAB Qantas Rewards Signature Card
19.99% p.a.
Up to 44 days on purchases
$295 annual fee for the first year ($395 p.a. thereafter)
0% p.a. for 6 months with 2% balance transfer fee
Up to 110,000 bonus Qantas Points & First-Year Annual Fee Discount
Earn up to 110,000 bonus Qantas Points (90,000 when you spend $3,000 in the first 60 days and 20k after 12 months).
Bankwest Zero Platinum Mastercard
14.99% p.a.
Up to 55 days on purchases
$0
0% p.a. for 26 months with 2% balance transfer fee
No Annual Fee & 0% Balance Transfer Offer
Get 0% p.a. on balance transfers for 26 months (with a 2% BT fee), ​an ongoing $0 annual fee and 0% foreign transaction fees.
St.George Vertigo Classic
13.99% p.a.
Up to 55 days on purchases
$55
0% p.a. for 28 months
0% Balance Transfer Offer
Enjoy a 0% interest rate on balance transfers for 28 months, with no balance transfer fee.
Citi Rewards Card - Points & Gift Card Offer
21.49% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 15 months
90,000 Citi Rewards Points and $100 Coles eGift Card
Receive 90,000 bonus Citi reward Points (worth $400 in gift cards) and a $100 Coles eGift Card when you spend $3,000 in the first 90 days.
Westpac Low Rate Card
13.74% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($59 p.a. thereafter)
0% p.a. for 28 months with 1% balance transfer fee
$0 First-Year Annual Fee & 0% Balance Transfer Offer
Save with a $0 annual fee for the first year, plus, a 0% interest rate on balance transfers for 28 months.
Citi Rewards Card - Velocity Points Offer
21.49% p.a.
Up to 55 days on purchases
$99 annual fee for the first year ($199 p.a. thereafter)
0% p.a. for 15 months
100,000 bonus Velocity Points
Enjoy 100,000 bonus Velocity Points when you spend $3,000 in the first 90 days. Plus, complimentary travel and purchase insurance.
Qantas Premier Platinum
19.99% p.a.
Up to 55 days on purchases
$225 annual fee for the first year ($299 p.a. thereafter)
0% p.a. for 18 months with 1% balance transfer fee
80,000 Bonus Points & 80 bonus Status Credits
Enjoy 80,000 bonus Qantas Points when you spend at least $4,000 within the first 3 months, 80 bonus Status Credits on eligible spend, plus a discounted $225 first-year annual fee.
Coles Rewards Mastercard
19.99% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 18 months with 1.5% balance transfer fee
20,000 Bonus Flybuys Points & $0 First-Year Annual Fee
Enjoy 20,000 bonus Flybuys points (worth $100 at Coles), a $0 first-year annual fee and an 18-month balance transfer offer.
Bendigo Bank Low Rate Credit Card
11.99% p.a.
Up to 55 days on purchases
$45
0% p.a. for 24 months with 2% balance transfer fee
Long-Term 0% Balance Transfer Offer
Save with 0% p.a. on balance transfers for 24 months (with a 2% BT fee). Plus a 11.99% p.a. purchase interest rate.
Latitude Gem Visa
24.99% p.a.
Up to 55 days on purchases
$99
0% Purchase Rate Offer
Enjoy 0% p.a. interest on purchases over $250 for 6 months, optional shopper's protection insurance and the convenience of Samsung Pay.
humm90 Mastercard
23.99% p.a.
Up to 110 days on purchases
$99
Up to 110 days interest-free days on purchases & 0% Foreign Transaction Fees
Enjoy up to 110 days interest-free on purchases, 0% foreign transaction fees and flexible instalment plan options.
ANZ Platinum Credit Card
0% p.a. for 17 months, reverts to 20.24% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($87 p.a. thereafter)
20.24% p.a.
0% Purchase Offer & $0 First Year Annual Fee
Receive a 0% purchase rate offer for 17 months and a $0 first-year annual fee. Plus, complimentary overseas travel and medical insurance.
Citi Clear Card
14.99% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 15 months
$250 Cashback & 0% Balance Transfer Offers
Get $250 cashback when you spend $3,000 within the first 90 days. Plus, a 0% balance transfer offer and first-year annual fee discount.
St.George Amplify Platinum - Qantas
19.74% p.a.
Up to 55 days on purchases
$99
0% p.a. for 15 months with 1% balance transfer fee
Balance Transfer Offer & 60,000 Bonus Points
Earn 60,000 bonus Qantas Points, plus enjoy 0% p.a. on balance transfers for 15 months with a 1% BT fee.
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$
% p.a.
Name Product Balance transfer rate Purchase rate Annual fee Amount saved
Kogan Money Black Card - Exclusive Offer
0% p.a. for 24 months
20.99% p.a.
$0
Finder Exclusive
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $50 Kogan.com Credit and uncapped rewards points.
HSBC Platinum Credit Card
0% p.a. for 36 months
19.99% p.a.
$29 annual fee for the first year ($129 p.a. thereafter)
Save money with a 0% balance transfer rate for 36 months (with no BT fee), a first-year annual fee discount and free travel insurance.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 26 months
20.74% p.a.
$64 annual fee for the first year ($129 p.a. thereafter)
Get 0% p.a. on balance transfers for 26 months, a reduced 1st year annual fee & $129 Virgin Australia Gift Voucher yearly.
Citi Rewards Card - Balance Transfer Offer
0% p.a. for 30 months
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee.
Coles No Annual Fee Mastercard - Exclusive Offer
0% p.a. for 12 months
0% p.a. for 12 months, reverts to 19.99% p.a.
$0
Finder Exclusive, ends 16 June 2021
Earn 10,000 bonus Flybuys points and save on interest charges with 0% p.a. on balance transfers and purchases for 12 months.
ANZ Low Rate
0% p.a. for 30 months
12.49% p.a.
$0 annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a. on balance transfers for 30 months (with no BT fee) and $0 first-year annual fee. Plus a 12.49% p.a. purchase interest rate.
Bankwest Zero Platinum Mastercard
0% p.a. for 26 months with 2% balance transfer fee
14.99% p.a.
$0
Get 0% p.a. on balance transfers for 26 months (with a 2% BT fee), ​an ongoing $0 annual fee and 0% foreign transaction fees.
St.George Vertigo Classic
0% p.a. for 28 months
13.99% p.a.
$55
Enjoy a 0% interest rate on balance transfers for 28 months, with no balance transfer fee.
Citi Rewards Card - Flybuys Offer
0% p.a. for 15 months with 1% balance transfer fee
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Get 100,000 bonus Flybuys points (worth $500 Flybuys dollars) when you spend $3,000 in the first 90 days. Plus, a $49 first-year annual fee.
Bankwest Breeze Classic Mastercard
0% p.a. for 15 months
0% p.a. for 15 months, reverts to 9.9% p.a.
$0 annual fee for the first year ($49 p.a. thereafter)
Save with 0% p.a. on purchases and balance transfers for 15 months (with no BT fee). Plus, a $0 first-year annual fee.
Bendigo Bank Low Rate Credit Card
0% p.a. for 24 months with 2% balance transfer fee
11.99% p.a.
$45
Save with 0% p.a. on balance transfers for 24 months (with a 2% BT fee). Plus a 11.99% p.a. purchase interest rate.
Westpac Low Rate Card
0% p.a. for 28 months with 1% balance transfer fee
13.74% p.a.
$0 annual fee for the first year ($59 p.a. thereafter)
Save with a $0 annual fee for the first year, plus, a 0% interest rate on balance transfers for 28 months.
Bankwest Zero Mastercard
0% p.a. for 26 months with 2% balance transfer fee
14.99% p.a.
$0
Features an ongoing $0 annual fee and an introductory rate of 0% p.a. for 26 months on balance transfers (with a 2% BT fee).
Bankwest Breeze Platinum Mastercard
0% p.a. for 15 months
0% p.a. for 15 months, reverts to 9.9% p.a.
$0 annual fee for the first year ($69 p.a. thereafter)
Get 0% interest on purchases and balance transfers for 15 months, a $0 first-year annual fee and no foreign transaction fees.
Coles Rewards Mastercard
0% p.a. for 18 months with 1.5% balance transfer fee
19.99% p.a.
$0 annual fee for the first year ($99 p.a. thereafter)
Enjoy 20,000 bonus Flybuys points (worth $100 at Coles), a $0 first-year annual fee and an 18-month balance transfer offer.
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Name Product Bonus points Rewards program Rewards points per $ spent Purchase rate Annual fee
NAB Qantas Rewards Signature Card
110,000
Qantas Frequent Flyer
1
19.99% p.a.
$295 annual fee for the first year ($395 p.a. thereafter)
Earn up to 110,000 bonus Qantas Points (90,000 when you spend $3,000 in the first 60 days and 20k after 12 months).
Qantas American Express Ultimate Card
120,000
Qantas Frequent Flyer
1.25
20.74% p.a.
$450
Receive 120,000 bonus Qantas Points and 120 Status Credits when you spend $4,500 in the first 3 months. Ends 15 June 2021.
Citi Rewards Card - Flybuys Offer
100,000
Citi Rewards Program
1
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Get 100,000 bonus Flybuys points (worth $500 Flybuys dollars) when you spend $3,000 in the first 90 days. Plus, a $49 first-year annual fee.
Qantas Premier Platinum
80,000
Qantas Frequent Flyer
1
19.99% p.a.
$225 annual fee for the first year ($299 p.a. thereafter)
Enjoy 80,000 bonus Qantas Points when you spend at least $4,000 within the first 3 months, 80 bonus Status Credits on eligible spend, plus a discounted $225 first-year annual fee.
Citi Rewards Card - Velocity Points Offer
100,000
Citi Rewards Program
1
21.49% p.a.
$99 annual fee for the first year ($199 p.a. thereafter)
Enjoy 100,000 bonus Velocity Points when you spend $3,000 in the first 90 days. Plus, complimentary travel and purchase insurance.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
N/A
Velocity Frequent Flyer
0.66
20.74% p.a.
$64 annual fee for the first year ($129 p.a. thereafter)
Get 0% p.a. on balance transfers for 26 months, a reduced 1st year annual fee & $129 Virgin Australia Gift Voucher yearly.
St.George Amplify Platinum - Qantas
60,000
Qantas Frequent Flyer
0.5
19.74% p.a.
$99
Earn 60,000 bonus Qantas Points, plus enjoy 0% p.a. on balance transfers for 15 months with a 1% BT fee.
Westpac Altitude Platinum Qantas
60,000
Qantas Frequent Flyer
0.5
20.49% p.a.
$149 annual fee for the first year ($200 p.a. thereafter)
Get 60,000 bonus Qantas Points when you spend $3,000 within 90 days. Plus, a first-year annual fee discount and a 0% balance transfer offer.
Citi Rewards Card - Points & Gift Card Offer
90,000
Citi Rewards Program
1
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Receive 90,000 bonus Citi reward Points (worth $400 in gift cards) and a $100 Coles eGift Card when you spend $3,000 in the first 90 days.
Coles Rewards Mastercard
20,000
Flybuys
2
19.99% p.a.
$0 annual fee for the first year ($99 p.a. thereafter)
Enjoy 20,000 bonus Flybuys points (worth $100 at Coles), a $0 first-year annual fee and an 18-month balance transfer offer.
Qantas American Express Premium Card
30,000
Qantas Frequent Flyer
1
20.74% p.a.
$249
Enjoy 30,000 bonus Qantas Points, 2 complimentary Qantas Club lounge invitations per year and the protection of complimentary insurance covers.
American Express Qantas Business Rewards Card
150,000
Qantas Business Rewards
1.25
N/A
$450
ABN holders w/ $75,000 revenue. 150,000 bonus Qantas Points and a $450 Qantas Flight Voucher when you spend $3,000 within the first 2 months.
BankSA Amplify Platinum - Qantas
60,000
Qantas Frequent Flyer
0.5
19.74% p.a.
$99
Receive 60,000 bonus Qantas Points when you spend $3,000 within the first 90 days from card approval.
Bank of Melbourne Amplify Platinum - Qantas
60,000
Qantas Frequent Flyer
0.5
19.74% p.a.
$99
Get 60,000 bonus Qantas Points when you spend $3,000 within the first 90 days.
American Express Platinum Edge Credit Card
N/A
Membership Rewards
1
20.74% p.a.
$195
Get $200 travel credit per year to spend on eligible flights, accommodation, car hire and more. Plus, earn up to 3 points per $1 on eligible spending.

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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.

What's happening in credit cards in June 2021

On 1 June 2021, Australia's biggest credit union, CUA, re-branded to Great Southern Bank. While it's changed its name, the reinvestment of profits back to customers instead of shareholders remains. The two credit cards on offer haven't changed apart from their names, either. CEO Paul Lewis explained the change was to remove confusion and be better able to compete with the Big Four. This is a trend we've seen over the last couple of years with other unions like Queensland Country Credit Union and Horizon Credit Union also rebranding to 'banks'.

People looking for a new rewards credit card this month are in luck with their choice of over 70 bonus points offers on the market. As RBA data shows that credit card use continues to trend downward overall, banks are offering generous bonus points promotions to entice new customers. Stand-out offers include 100,000 bonus Flybuys points or Velocity Points on the Citi Rewards Card and 120,000 bonus Qantas Points on the Qantas American Express Ultimate.

We'll keep updating this section over the course of the month to keep you up-to-date with everything credit cards.

Updated by Alanna Glenn on 2 June 2021

What is a credit card?

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.

What types of credit cards are there?

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.

Balance transfer credit cards

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!

CardCurrent offerAnnual fee
Citi Rewards Card – Balance Transfer OfferPicture not describedSave with 0% interest on balance transfers for the first 30 months with no balance transfer fee. Plus, complimentary travel insurance and Citi Rewards.$49 annual fee for the first year ($149 thereafter)

No annual fee credit cards

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.

CardCurrent offerAnnual fee
Coles No Annual Fee Mastercard - Exclusive Offercoles no annual fee0% p.a. interest on purchases and balance transfers for the first 12 months. Plus, 10,000 bonus Flybuys points.$0

Low interest rate cards

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.

CardCurrent offerAnnual fee
ANZ Low Rate CardPicture not describedSave 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)

Rewards credit cards

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.

CardCurrent offerAnnual fee
Citi Rewards Card – Bonus Points OfferPicture not describedGet 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)

Frequent flyer credit cards

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.

CardCurrent offerAnnual fee
Qantas Premier Platinumqantas premier platinum credit cardGet 80,000 bonus Qantas Points when you spend $4,000 on eligible purchases within the first 3 months. Plus, lounge passes and insurance.$225 annual fee for the first year ($299 thereafter)
Back to top

Do I need a credit card?

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.

Should I or shouldn't I?

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.

Pros

  • Flexibility! If you've got a big purchase to make or a bill to pay but don't have the cash in the bank, a credit card can give you the money you need. You can then pay it back straight away or over time.
  • Convenience. Credit cards allow you to buy what you need, when you need it. You can use them to shop in-store, online and overseas.
  • Rewards. Everyone loves perks. Using a credit card could help you get frequent flyer points, cashback on your groceries, upgrades or even gift cards. Nice.

Cons

  • Debt. If you don't manage your credit card properly, you could get into debt. Credit card interest can add up quickly if you don't pay your balance on time, which could land you in hot water.
  • They can be expensive. Compared to some other loans, credit cards are relatively expensive. The average interest rate for an Australian credit card is around 20%, while the average interest rate for a variable rate loan is 14.41%.
  • Sneaky fees and surcharges. Some businesses add a surcharge to credit card payments, which can be 1-2% of the total purchase cost.

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.

How to compare credit cards

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 featureWhat is it?What you should know
Annual feeThe 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 rateThe 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 periodThe 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 rateIf 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 rateIf 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 feeWhat 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 programA 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.

So how do I actually pick a credit card?

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.

  1. Figure out what you want your credit card to do for you. Do you want to pay off your existing debt faster? Then you'll want to keep an eye out for a 0% interest balance transfer credit card. Looking to get extra perks in your life? Start investigating rewards credit cards. Once you figure out your number one goal, it'll make it a lot easier to filter out the cards that aren't serving that purpose.
  2. Decide how much you're willing to pay. Are you willing to spend a bit on your credit card to reap the rewards or do you want to keep things as cheap as chips? If you don't want to spend much, keep a close eye on annual fees and interest rates.
  3. Figure out which, if any, rewards you want to earn. If this is important to you, consider what rewards in particular you want to be accruing. Maybe you're a Flybuys person or a Qantas Frequent Flyer. Whatever it is, make sure you filter this into your comparison.
  4. Be honest with yourself on how likely you are to pay in full. Be as realistic as possible. If you find yourself sometimes paying bills a little late or you know you may be strapped for cash down the line, be wary of cards with high interest rates. If possible, look for cards with a longer interest-free period.
  5. Draw a hard line on your dealbreakers. Need a card with Flybuys? Maybe you're not willing to budge on paying annual fees. Whatever it is, figure out what your dealbreakers are and make sure to consider them in your comparison. Our handy table above can help you filter what's important to you so you can find a card that suits you faster.

How to use a credit card (and avoid debt!)

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.

  • Ask for a credit limit you know you can manage. Credit card companies determine your limit based on what you could "reasonably" afford to pay off over 3 years. But sometimes that means that they could give you access to thousands of dollars that you don't need to spend. Avoid temptation and request a specific credit limit when you apply.
  • Plan your repayments. Each month you'll get a statement that tells you how much money you owe, the bare minimum you need to repay, and a payment due date. Make sure you set a reminder in your calendar each month, or better yet, set up automated payments each month. That way, you'll never forget and you won't be hit with unnecessary fees. You can also check out our handy repayment calculator to help you.
  • Get help if you need it. If you're struggling with your credit card, call your bank or provider to see what support is available. You can also get free financial advice by calling the National Debt Helpline on 1800 007 007.
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Got a question? We've got answers

Is a personal loan or a credit card better?

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.

What do I need to get a credit card?

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.

What will getting a credit card do to my credit score?

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.

Can I get a credit card if I have a bad credit history?

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.

How do credit cards compare to Afterpay and other buy now pay later services?

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:

  • Credit cards: You can use a credit card almost everywhere: shops, cafes, online. Basically, they just need to accept the type of card you have (Amex, Mastercard, Visa). If you don't pay off your balance in full each month, you'll be charged interest. When you apply, the bank will check your credit score to decide what limit to give you.
  • Buy now pay later: Most BNPL services let you buy items from partnered stores, then pay them off in fixed instalments over a few weeks or months. They don't typically charge interest but they may have other fees (especially for late payments). Usually, your credit history isn't checked when you apply and your limit will increase with responsible use.

How do I actually apply for a credit card?

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).

What is Credit Card Finder® and how can I use it?

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.


Important credit card guides

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79 Responses

    Default Gravatar
    RobOctober 8, 2019

    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

      Default Gravatar
      NikkiOctober 10, 2019

      Hi Rob,

      Thanks for getting in touch! 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.

      As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.

      Hope this helps!

      Best,
      Nikki

    Default Gravatar
    ArenSeptember 4, 2019

    Are there banks in Australia which has credit card instant approval?

      Default Gravatar
      NikkiSeptember 4, 2019

      Hello Aren,

      Thanks for your message.

      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.

      When you have chosen the right one for you, click the ‘More info’ button if you want to read more about the brand through Finder page reviews or click the ‘Go to site’ button to bring you to the main provider’s webpage. This is where you can start your application or get a quote. As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

      Hope this helps and best of luck with your application!

      Cheers,
      Nikki

    Default Gravatar
    KathrynMarch 26, 2019

    I am after a Visa or Mastercard with the highest rate of points earn per $ spent for Velocity or Qantas.

      Avatarfinder Customer Care
      JeniMarch 28, 2019Staff

      Hi Kathryn,

      Thank you for getting in touch with Finder.

      You may start comparing Velocity credit cards and Qantas credit cards using our comparison table. Please note that the rewards per dollar spent column would help you choose which card to go with. 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 or get in touch with their representatives for further assistance.

      Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    PatrickFebruary 28, 2019

    I have American Express cards and I am wanting a Visa or Mastercard have excellent history with current provider.

      Avatarfinder Customer Care
      JeniMarch 2, 2019Staff

      Hi Patrick,

      Thank you for getting in touch with Finder.

      Good to know that you have an excellent credit history.

      You may refer to our list of Visa credit cards and Mastercard credit cards. You can use our comparison table to compare credit cards by looking at their fees, terms and rates as well.

      Once you’ve chosen a provider, you may click on the “Go to site” to be redirected to their official page where you can check more details or even start your application. Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    ToddFebruary 4, 2019

    Hi I am looking for a business credit card to earn us maximum frequent flyer points

      Default Gravatar
      AshFebruary 6, 2019

      Hi Todd,

      Thank you for contacting Finder.

      You may compare business credit card with frequent flyer points from 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.

      Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      I hope this helps.

      Do not hesitate to reach out again to us if you have additional questions.

      Cheers,
      Ash

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