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
Qantas Premier Platinum Qantas Frequent Flyer	Purchase rate p.a. 19.99%	Bonus points 100,000	Points per $ spent 1	Interest-free period Up to 55 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 site More 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.
Qantas Premier Platinum Qantas Frequent Flyer	Purchase rate p.a. 19.99%	Bonus points 100,000	Points per $ spent 1	Interest-free period Up to 55 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 site More Info Compare	Earn up to 100,000 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 55 days on purchases	Balance transfer rate p.a. 21.99%	Annual fee $375	Go to site More 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.
Bankwest Breeze Classic Mastercard	Purchase rate p.a. 12.99%	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 12.99%	Annual fee $49	Go to site More Info Compare	Save with 0% p.a. on balance transfers for 24 months (with a 3% BT fee).
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 28 months with 2% balance transfer fee, then 21.74%	Annual fee $0 first year ($59 after)	Go to site More Info Compare	Get a 0% p.a. interest rate on balance transfers for the first 28 months (with a 2% BT fee). Plus, save with a $0 first-year 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 site More 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.
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 55 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 site More 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 N/A	Points per $ spent 0.5	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0% for 9 months with 1.5% balance transfer fee, then 20.74%	Annual fee $0	Go to site More Info Compare	Save with an ongoing $0 annual fee and 0% interest on balance transfers for the first 9 months (with a one-time 1.5% BT fee).
Latitude 28° Global Platinum Mastercard - Rewards Offer Latitude Rewards	Purchase rate p.a. 27.99%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. N/A	Annual fee $96	Go to site More Info Compare	Get $200 bonus Latitude Rewards when you spend $2,000 or more on eligible transactions every statement period in the first 3 months from approval. Offer ends 31 December 2024.
St.George Vertigo Card	Purchase rate p.a. 13.99%	Bonus points N/A	Points per $ spent N/A	Interest-free period Up to 55 days on purchases	Balance transfer rate p.a. 0.99% for 28 months with 0% balance transfer fee, then 21.99%	Annual fee $55	Go to site More Info Compare	Get a 0.99% p.a. interest rate on balance transfers for 28 months (with no balance transfer fee).
Bankwest Breeze Platinum Mastercard	Purchase rate p.a. 12.99%	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 12.99%	Annual fee $59	Go to site More Info Compare	Get 0% p.a. interest on balance transfers for 24 months (with a 3% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.

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Find some of the terms in this table confusing? Jump down to our glossary to learn about key features and how to compare credit cards.

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.

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. Here is a quick explanation of each one; 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

How old do you have to be to get a credit card?

In Australia, you must be at least 18 years old to apply for a credit card in your name. This is the age you are legally considered an adult and, since minors can't be held liable for contracts, only adults can apply for credit products.

This policy is part of the strict lending rules that protect young Australians from getting into debt they can't afford.

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

Response
18-22	31.63%
23-27	28.21%
I’ve never had a credit card	14.73%
28-32	12.94%
33-40	8%
41-50	2.7%
50+	1.8%

Source: Finder survey by Pure Profile of 1113 Australians, December 2023

How to compare credit cards

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

Annual fee

What is it? The amount you'll have to pay each year just to use the card.
What you should know: Higher annual fees usually mean more perks and rewards.

Balance transfer rate

What is it? The interest rate you’ll pay if you transfer a balance from another card.
What you should know:The lower the interest rate, the better. Most introductory offers are for 0% p.a. on your balance, but you may pay a one-time fee.

Cash advance rate

What is it? The interest rate you’ll pay if you take cash out or make an equivalent transaction.
What you should know: This is often the highest interest rate on a credit card, so avoid cash advances unless it's an emergency.

Credit card network

What is it? The payment system that processes all your credit card transactions. Visa, Mastercard, American Express and Diners Club are the key credit card networks in Australia.
What you should know: Banks and brands partner with Mastercard and Visa, so you'll see their logos on your cards. American Express issues cards and has its own network for processing payments. Diners Club has more limited availability and is leaving the Australian market.

Foreign transaction fee

What is it? The fee you'll be charged on purchases made in a foreign currency overseas or online.
What you should know: There are plenty of cards on the market with 0% foreign fees.

Interest-free period

What is it? The amount of time you'll get before you're charged interest on your purchases.
What you should know: More days give you more time to pay off your balance so you won’t be charged interest.

Minimum repayment

What is it? The lowest amount you need to pay by the due date to keep your account in good standing.
What you should know: You can always (and should try to) pay more than the minimum amount. But paying less can lead to late payment fees and hurt your credit score.

p.a.

What is it? This abbreviation of “per annum” is used for credit card interest rates, because the annual (or yearly) value is shown.
What you should know: As an example, the interest you’d be charged over 12 months would be about 20% of your balance on a credit card with a 20% p.a. interest rate.

Purchase interest rate

What is it? The amount of interest you'll pay if you don’t pay your card off in full.
What you should know: The lower the interest rate, the less you’ll pay in potential interest.

Rewards program

What is it? Offers points and perks that you can earn for your spending.
What you should know: Common features include points, insurance, lounge passes and premium services.

Pros & cons of credit cards

Pros

Flexibility. If you have a big purchase to make, a credit card can be a financial "buffer" – letting you buy it and then repay it over time. If it’s used wisely, it can be interest free.
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, with security features to protect against fraud.
Rewards. Everyone loves perks. A credit card can help you get frequent flyer points, cashback on your groceries, flight upgrades or even gift cards.

Cons

Debt. Credit card interest adds up quickly if you don't pay your balance on time, which could cost you hundreds (or thousands) of dollars and take a long time to pay back.
Can be expensive. The average interest rate for an Australian credit card is around 20%, RBA stats show. In comparison, the average interest rate for a variable rate personal 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.

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.

What's happening in credit cards in October?

EXPERTREVIEW

By Finder's money editor, Richard Whitten.

Australians are spending more on their credit cards than ever, spending $424 billion in transactions over the last 12 months according to the latest figures.

But we're paying most of that off! The average Australian credit card balance is $3,284. But the average balance for a cardholder who is getting charged interest (meaning they haven't paid the card off in full) is $1,502. This figure was almost $1,000 higher a decade ago.

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

Should I get a credit card?

For many Australians, using a credit card is an everyday part of life. But not everyone needs a credit card.

In fact, Finder research has found that 72% of Australians could manage their money without a credit card. They technically don't need a card but still have one for different reasons, including:

For emergencies
To earn rewards or frequent flyer points (which are not offered by most other accounts)
To make big purchases
To build credit history
To pay off debt and/or get a balance transfer

Some people also like the security of knowing that a credit card uses the bank's money, so you're not directly out-of-pocket when it comes to fraud. On the other hand, you shouldn't take on debt you don't need, especially if you're paying interest on it.

Impulse shoppers are typically more prone to credit card debt and could end up with a big balance and interest charges, which can take years to pay off.

Did you know? 2024 Finder research shows the average Australian with a credit card could save $222 over 32 months by switching cards.

Have questions about credit cards? We have answers

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.
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.
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.
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.
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.
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.

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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Thank you for your feedback!

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 544 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 574 Finder guides across topics including:

Credit cards
Frequent flyer
Credit score
BNPL
Money management
Sustainability

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117 Responses

DanielleOctober 5, 2024

A card that dosnt have large fees

Finder

RichardOctober 7, 2024Finder

Hi Danielle,

Check out low rate credit cards or a no annual fee credit card.

DennisSeptember 5, 2024

Hi, i have an existing “FPO” on my ready credit card, and i paid half way off of the contract term. And now they are offering me another “FPO” on the amount that i have already paid off. I wanted to take it, because the interest is low and i need some money. How the payment should be, is it going to combine or separate payment? Thank you.

Finder

SarahSeptember 9, 2024Finder

Hi Dennis,

Yes, they would set up a brand new flexible payment option on your account, and you’ll have two seperate payment plans set up.

Hope this helps!

TrekJuly 15, 2024

Hi, I am a pensioner, I pay an annual fee on my credit card but now the commbank wants an extra 8 dollars a month in fees, they obviously need it, is there a credit card that has low interest n no ongoing fees other than the yearly fee?
Regards
Trek Bakr

Finder

SarahJuly 16, 2024Finder

Hi Trek, Is your card the Commonwealth Bank Awards Card? The fee is $8 per month instead of an annual fee; it works out to be $96 a month.

If you’re not happy with that card, you can browse a few options for low-fee or no-fee credit cards here.

Hope this helps!

KylieJuly 4, 2024

American Express have just rejected an increase in my credit limit. I am very surprised as I have a high income, small mortgage, large amount of equity in my house and superannuation. I have no other debt or loans. Have had the card for 6 years and pay the balance in full every month.
I am trying to get information on what income, assets, credit rating they used to assess my eligibility for a card increase. They won’t tell me anything and have been incredibly unhelpful.
How can I get information.
Which Ombudsman should I complain to – financial services?
Is a Freedom of Information request possible.

I accept that they don’t have to give me an increase but I am concerned that there is an error in the data that they are using to assess my application and want the opportunity to correct any errors. If I can’t get an increase to $12,000 on an income of $210,000 with a mortgage of $400 a week I can’t see how anyone can get a credit card.

Finder

SarahJuly 16, 2024Finder

Hi Kylie,

Most banks and lenders don’t publicly share the data and criteria they use to assess applicants, which is frustrating. If it helps, banks generally use a formula of 2-3% per month. So, if your limit is $12,000, they assess your ability to make a repayment based on $240 to $360 per month at a minimum.

In regards to your application, it could be a mistake, or there could be a valid reason why.

Some of the reasons that could contribute to this could be:
– an issue with your credit score. You can check your credit score for free in the Finder app.
– having other credit cards, especially ones with high limits. Each one is assessed as requiring a payment worth 2-3% of the credit limit each month. So, they may assess you as not being able to afford a higher limit.
– having other personal debts and loans that impact your serviceability.
– consistently late or missed payments, resulting in late payment fees; this could indicate difficult managing your current repayments, therefore they don’t want to extend you any further credit. You mentioned you pay the balance in full each month, so this is unlikely to be the reason.

It would be worth checking your credit file as a first step, and then contact Amex again and ask if they won’t approve $12,000, what limit would they approve? If you’re still not satisfied, it might be worth shopping around for a card that better suits your needs.

Hope this helps!

MaureenJanuary 27, 2024

Looking for credit card with no exchange fees etc when used overseas, plus free travel insurance, plus perhaps pays bonus points . Happy to pay small annual fee. I always pay full balance off each Month. What would be your recommendations? Thank you

Finder

AmyJanuary 29, 2024Finder

Hi Maureen,
Finder has a dedicated guide to credit cards with no foreign transaction fees, which includes a comparison table with filters for different features you’re interested in. I hope this helps.

Credit card comparison Australia