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Start your credit card comparison here
Welcome to Credit Card Finder® where we've been researching and comparing credit cards for over 15 years. You can easily compare over 270 Australian credit cards using our free tools. When you find one that suits, click Go to site and we'll take you securely to the bank's website.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Find some of the terms on this table a little confusing? We get it. Jump down to our glossary to learn about key features and how to compare cards.
What's happening in credit cards in May 2022?
Velocity Frequent Flyers looking for a new credit card can get an extra 40,000 bonus points, Trial Gold Status for 6 months or a $300 Travel Bank credit on top of credit card bonus points, with a new offer from Velocity that runs until 31 May 2022. To get one of the benefits, you need to go to the Velocity website, log in and choose which of the three perks you want before applying for an eligible credit card. Here's a breakdown of how it works.
American Express is hosting a live music event in Sydney on 29 May, the Back the Night festival, headlined by Gang of Youths with a total of 17 acts across 6 venues. The festival is designed to reinvigorate Sydney’s night life and support the music industry, with all ticket proceeds going to industry charity Support Act. While Amex card members had pre-sale access, anyone can now buy a ticket through the Ticket Master website, from $70 per person.
The cost of living has soared in 2022, with official data showing a 5.1% inflation figure for the March 2022 quarter. With the cost of everything from petrol to groceries increasing,it's a good time to take stock of your credit cards.
And if you're already paying off a credit card, you could switch to a new card and save a small fortune in interest with an introductory 0% interest rate on balance transfers for up to 36 months.
A credit card is a convenient way to pay for things. While a debit card requires you to have money in your bank account to make a purchase, a credit card lets you borrow money which you then pay back over time, usually with interest. It's useful for when you don't have enough money to pay for something or if you 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 like an interest-free loan. But if you can't pay on time, your purchases will begin collecting interest on top of the amount owed.
What types of credit cards are there?
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.
Save with 0% p.a. interest on balance transfers for 30 months. Reverts to 21.74% p.a.
$0
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.
0% p.a. on balance transfers for 32 months, with no balance transfer fee. Reverts to 21.49% p.a.
$0 annual fee for the first year (goes up to $55 thereafter)
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.
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)
Rewards credit cards
Spend money and get rewarded? Sign us up. Rewards credit cards let you accumulate points every time you pay for something. Points can then be cashed in for 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.
Earn 100,000 bonus Membership Rewards points when you spend $4,000 on eligible purchases within the first 3 months of card membership. $400 yearly travel credit and complimentary lounge passes included.
$395
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 free flights, seat upgrades and even the newest iPhone.
⭐ Hot tip: Look for bonus points offers and other perks such as insurance and airport lounge passes.
Here's our breakdown of features and points you should know about.
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.
Higher annual fees usually mean more perks and rewards.
Purchase interest rate
The amount of interest you'll pay if you don’t pay your card off in full.
The lower the interest rate, the less you’ll pay in potential interest.
Interest-free period
The amount of time you'll get before you're charged interest on your purchases.
More days give you more time to pay off your balance so you won’t be charged interest.
Balance transfer rate
The interest rate you’ll pay if you transfer a balance from another card.
The lower the interest rate, the better. Most introductory offers are 0% p.a.
Cash advance rate
The higher interest rate you’ll pay if you take cash out or make an equivalent transaction.
Avoid cash advances unless it's an emergency.
Foreign transaction fee
The fee you'll be charged on purchases made in a foreign currency overseas or online.
There are plenty of cards on the market with 0% foreign fees.
Rewards program
Offers points and perks that you can earn for your spending.
Common features include points, insurance, lounge passes and premium services.
Do I need a credit card?
We're going to be straight up – not everyone needs a credit card.
You don’t want to take on debt you don't really need, 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 quickly.
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 4 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 have 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.
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. Everyone loves perks. Using a credit card could help you get frequent flyer points, cashback on your groceries, upgrades or even gift cards.
Cons
Debt. If you don't manage your credit card properly, you could get into debt. Credit card interest adds up quickly if you don't pay your balance on time, which could cost you hundreds (or thousands).
Potentially expensive. Compared to 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 have a payment plan in mind and understand your limits.
How to use a credit card (and avoid debt!)
Yes, a credit card is 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 they give you access to thousands of dollars that you really don't need. 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. Set a reminder in your calendar each month for the due date, or better yet, set up automated payments. You can also check out our handy repayment calculator to help you budget.
Get help if you need it. If you realise 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.
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 they can guide you. 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:
Credit cards: You can use a credit card almost everywhere: shops, cafes, online. 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. Your credit history isn't usually checked when you apply and your limit will increase with responsible use.
The easiest way to apply for a new credit card is online. Click the apply button, agree to some standard terms and 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. 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.
Amy has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.
Designed for big companies, this Amex charge card offers a mix of management tools and perks – including a 100,000 bonus Membership Rewards points offer.
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
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.
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.
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.
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?
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.
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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