Credit card comparison Australia

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Name	Purchase rate p.a.	Bonus points	Points per $ spent	Interest-free period	Balance transfer rate p.a.	Annual fee
Promoted Promoted Qantas Premier Platinum Qantas Frequent Flyer	Purchase rate p.a. 20.99%	Bonus points 80,000	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 21.99%	Annual fee $349 first year ($399 after)	Go to siteMore Info Compare	This card's bonus points offer is one of the highest on the market. Plus you can earn up to 2 Qantas Points per $1 spent and get 2 airport lounge invitations per year.
Promoted Promoted Kogan Money Card – Exclusive Offer Exclusive Kogan Rewards Program	Purchase rate p.a. 9.99% for 18 months, then 21.99%	Bonus points N/A	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 18 months with 1% balance transfer fee, then 22.74%	Annual fee $0	Go to siteMore Info Compare	Save with 0% p.a. interest on balance transfers (with a 1% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
Westpac Low Rate Card	Purchase rate p.a. 13.74%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 26 months with 2% balance transfer fee, then 21.99%	Annual fee $59	Go to siteMore Info Compare	Save with a 0% p.a. interest rate on balance transfers for 26 months (with a 2% BT fee). Plus, a low 13.74% p.a. purchase interest rate.
Qantas Premier Platinum Qantas Frequent Flyer	Purchase rate p.a. 20.99%	Bonus points 80,000	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 21.99%	Annual fee $349 first year ($399 after)	Go to siteMore Info Compare	Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers, with a 2% BT fee.
ANZ Rewards Black Credit Card Finder Award ANZ Rewards Program	Purchase rate p.a. 20.99%	Bonus points 180,000	Points per $ spent 2	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 21.99%	Annual fee $375	Go to siteMore Info Compare	Get 180,000 bonus ANZ Reward Points (worth $800+ in digital gift cards) and $150 back when you spend $3,000 in the first 3 months.
Kogan Money Card – Exclusive Offer Exclusive Kogan Rewards Program	Purchase rate p.a. 9.99% for 18 months, then 21.99%	Bonus points N/A	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 18 months with 1% balance transfer fee, then 22.74%	Annual fee $0	Go to siteMore Info Compare	Save with 0% p.a. interest on balance transfers (with a 1% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
Coles No Annual Fee Mastercard Flybuys	Purchase rate p.a. 20.74%	Bonus points 10,000	Points per $ spent 0.5	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. N/A	Annual fee $0	Go to siteMore Info Compare	Get 10,000 bonus Flybuys points (worth $50 Flybuys dollars) when you spend $3,000 on eligible purchases in the first 3 months.
NAB Rewards Platinum Card – Velocity Points Velocity Frequent Flyer	Purchase rate p.a. 20.99%	Bonus points 80,000	Points per $ spent 1	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 12 months with 3% balance transfer fee, then 21.74%	Annual fee $95 first year ($195 after)	Go to siteMore Info Compare	Get up to 80,000 bonus Velocity Points: 60,000 points when you spend $1,000 in the first 60 days and 20,000 after 12 months.
American Express Velocity Business Card Velocity Frequent Flyer	Purchase rate p.a. 0%	Bonus points 120,000	Points per $ spent 1	Interest-free period Up to 51 days on purchases	Balance transfer rate p.a. N/A	Annual fee $249	Go to siteMore Info Compare	ABN holders w/ $75,000 revenue. Get 120,000 bonus Velocity Points when you spend $3,000 in the first 2 months.
Qantas Premier Everyday Qantas Frequent Flyer	Purchase rate p.a. 20.99%	Bonus points 8,000	Points per $ spent 0.75	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 21.99%	Annual fee $99	Go to siteMore Info Compare	Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.
NAB Low Rate Credit Card	Purchase rate p.a. 13.49%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 24 months with 3% balance transfer fee, then 21.74%	Annual fee $59	Go to siteMore Info Compare	Get a 0% p.a. interest rate on balance transfers for the first 24 months (with a 3% BT fee).
Qantas American Express Ultimate Card Qantas Frequent Flyer	Purchase rate p.a. 23.99%	Bonus points 50,000	Points per $ spent 1.25	Interest-free period Up to 44 days on purchases	Balance transfer rate p.a. N/A	Annual fee $450	Go to siteMore Info Compare	Get a yearly $450 Travel Credit and 50,000 bonus Qantas Points when you spend $3,000 on eligible purchases in the first 3 months.

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What is a credit card?

A credit card lets you spend money that you can pay back over time, usually with interest.

Unlike a debit card – where you need money in the bank – a credit card gives you a set amount you can spend (or borrow), known as your credit limit. You also get regular statements (usually monthly) and need to make repayments by the due date on them.

In Australia, you must be at least 18 years old to apply for a credit card in your name.

Want more details? Check out Finder's guide to how credit cards work.

Our expert says

"When comparing credit cards, decide what's most important to you. Is it a low interest rate? Low annual fee? Bonus frequent flyer points? Maybe a balance transfer deal? For instance, I pay my balance in full each month, so I ignore the interest rates and don’t look at balance transfer offers. Instead, I aim to find cards with a great points earning rate. Knowing exactly what you want, makes it easier to find the right card for you."

Sarah Megginson

Head of editorial

What types of credit cards are there?

There are 5 main types of credit cards. Every card is slightly different, so you should compare credit cards to find the best credit card that has the features that matter to you.

Card type	Principal use	Pros	Cons
Balance transfer	Pay off existing debt with no / low interest	Save money on interest and pay down debt faster	Minimal perks and no interest-free days on new purchases
Rewards	Earn points on your spending	Get rewarded for money you’d spend anyway	High interest rates & annual fees
No annual fee	Credit without an upfront cost	Costs nothing if you pay it off in full or don’t use it at all	Minimal perks and higher interest rates
Low rate	Pay off purchases over time while paying less interest	Saves you money if you carry a balance from month to month	Minimal perks
Business	Managing cash flow and separating spending	Offer distinct features for business (like accounting feeds)	Stricter eligibility requirements

Credit cards for Christmas 2024 (video)

How to compare credit cards

Here's a breakdown of features and charges you should look at when doing a credit card comparison.

1. Find the right type of card. Want Qantas Points? Get a frequent flyer card that lets you earn points when you spend. Need a simple, cheap card for everyday spending? Look at low rate or no annual fee cards.
2. Look at the purchase rate. Credit cards charge high interest rates. But only if you don't pay the card off on time.
3. Don't forget the annual fee. Most cards charge a yearly fee. It can be as low as $50 or as high as $400 for a fancy card with lots of perks and benefits. There are some cards with annual fees that cost over $1,000!
4. Count your interest free days. One of the best features of a credit card, interest-free days let you buy something today and pay no interest for up to 55 days. How it actually works in practice is a little complicated though.
5. Look at all the perks and benefits the card offers. Some credit cards give you reward or frequent flyer points, purchase protection or complimentary travel insurance, cashback on your spending or other rewards. The more perks a card offers the higher the annual fee. So if you don't use them, you're wasting money.

Credit cards 101

There are lots of confusing terms in credit card land. Here's a quick explainer:

• Balance transfer rate. The interest rate you'll pay if you transfer a balance from one card to another. Most introductory offers are for 0% p.a. on your balance, but you may pay a one-time fee.
• Cash advances. Try not to withdraw cash from an ATM or use your card to gamble or buy foreign currencies. These transactions are considered cash advances and they come with a fee plus a higher interest rate (which you get charged immediately).
• Credit card network. The payment system that processes all your credit card transactions. In Australia most cards are either Visa, Mastercard or American Express.
• Foreign transaction fees. This is the fee you'll be charged on purchases made in a foreign currency overseas or online. Some cards have 0% foreign fees.
• Minimum repayment. You can repay all your card spending each month. Or you can pay it off slowly (and get charged interest). The minimum repayment is the lowest amount you must pay by the due date. Miss this, and you'll get charged a fee.

Finder survey: How old are Australians when they get their first credit card?

Expert insight: Why credit card records matter

"Maintaining these records helps you track your spending, verify transactions, and catch any errors or fraudulent activities promptly. They are also useful for budgeting, filing taxes, and providing proof of purchase or payment if disputes arise. Keeping organised and accessible records of your statements, whether in digital or paper form, ensures you have a comprehensive financial history that can be referenced whenever necessary."

Angel Zhong

Professor, RMIT

Pros & cons of credit cards

Bottom line? Credit cards have a mix of great perks and understandable risks. A good rule of thumb is to compare credit cards to ensure you get one with the features you need, while having a plan for paying it off and using the benefits.

Have questions about credit cards? We have answers

• How do I get a credit card in Australia?

  You need to apply for a credit card before you can start using one. This is usually a simple process you can do online in a few steps:

  1. Compare credit cards from different providers to find one you want
  2. Check that you meet the eligibility requirements (e.g. being over the age of 18 and earning income)
  3. Complete the application, including supporting documentation (e.g. your driver's licence details, payslips etc)

  Before you apply it's important to think about how a credit card fits in with your financial situation. It may be helpful to use a repayment calculator to estimate potential costs and budget for repayments if you don't think you'll pay off what you spend each month.

  Also keep in mind that lenders check your credit report and score when you apply. So if you want to check these details before that, you can get a free copy of your report and score through Finder.

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

  A credit card is convenient, but it comes with a risk of debt. Here are 4 tips to help you stay on top of payments.

  • Ask for a credit limit you can manage. Credit card companies must determine your limit based on what you could "reasonably" afford to pay off over 3 years. But if the credit limit you're offered is higher than what you need, you can request a lower limit so you have more control.
  • Pay more than the minimum. Only paying the minimum amount listed on your credit card statement can lead to years of debt and interest charges. So, aim to pay off the total balance by the statement's due date.
  • Plan repayments. Set a monthly calendar reminder for the payment due date, or set up automated payments. Finder's credit card repayment calculator can also help you budget.
  • 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.

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

  Applying for a credit card impacts your credit score as each application is recorded on your credit file. Multiple applications in a short period can lower your score and missed repayments also negatively affect it. But regular payments and responsible use of a credit card can raise your credit score. It's all in how you use the card.

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

  Yes, but it’s typically more difficult. It's a good idea to provide as much detail as possible on the application to show you can manage the account. You could also 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 be another option.

• How do credit cards compare to 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. 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 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.

• What credit card options are available for people under 18?

  Although you can't apply for a credit card in your name while you're under 18, you can consider the following options:

  • Ask to be an additional cardholder on your parents' credit card. If you're at least 16 years of age, your parents may add you as a supplementary cardholder to their credit card account. This means that you will receive a credit card linked to their account, and they will remain legally responsible for all the expenses.
  • Get a prepaid credit card. A prepaid credit card lets you preload the card with money. This means it's technically not a "credit" card because you are responsible for providing the money you spend, but it can be a useful pay-as-you-go option. With a prepaid card, you won't fall into debt, and can usually shop anywhere Visa or Mastercard is accepted (including online).
  • Use a debit card. A debit card is similar to a prepaid card, except it is linked to a bank account. When you use this type of card, you are spending money that you have in the account and don't have to keep loading money like you would with a prepaid card. Most debit cards can be used for contactless payments and mobile wallets like Apple Pay or Google Pay, if you're set up with one of those accounts.
  • Focus on savings. The importance of saving throughout your life is often underrated. Learning to save should be a critical focus, especially before you get a credit card. This will ensure you have funds that you can use when necessary and also prevent unmanageable credit card debt in the future.

  Before applying for a credit card, make sure that you've researched your chosen card and understood the terms, conditions and eligibility requirements. Rather than thinking of these requirements as restrictive, understand that credit card application requirements help uphold responsible lending practises and protect consumers.

• 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 over 260 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.

  Our comparison tables are free to use and we link you directly to the lender's secure application page. We make money from featured partners but editorial opinions are our own.

• What is the most accepted credit card in Australia?

  Visa and Mastercard are the most widely accepted credit cards in Australia. They can be used for both domestic and international purchases, offering broad merchant acceptance and lower fees for use compared to other networks like American Express.

Why you can trust our credit card experts

Obsessed with perks - we nerd out over points, rates & prizes - our editors spend hours (ok, days) crunching 250+ cards every single month. We even give them a simple score out of 10 if you just want the easy life.

No two cards the same - different cards are great for different things (and some are just junk). That's why we track and score every type of card from balance tranfers to rewards, cashback to low interest - so you don't waste a cent.

No BS - We're not owned by a bank, we don't have a call centre. Our only mission is to match you with the card of your dreams. Whether it's your first card, or you're a points ninja - we got you.

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To make sure you get accurate and helpful information, this guide has been edited by Sarah Megginson as part of our fact-checking process.

Written by

Richard Whitten

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise

Richard has written 556 Finder guides across topics including:

• Home loans
• Property
• Personal finance
• Money-saving tips

Co-written by

Amy Bradney-George

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise

Amy has written 565 Finder guides across topics including:

• Credit cards
• Frequent flyer
• Credit score
• BNPL
• Money management
• Sustainability