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That's why we've looked at over 270 cards and narrowed it down to 5 top picks to help you find the right one.
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What is the best credit card in Australia?
This depends on what you want. Do you want heaps of rewards, to pay as little as possible or some other feature? No matter what you're after, there are plenty of good cards out there. With our top picks, comparison table and expert tips, you're just a few clicks away from finding the best card for you.
Find the best credit card for you
How do I know which credit card is best?
Even though there's no one "best" credit card for everyone, there are a few things that have universal appeal, including:
- Low fees and interest rates to help you save on credit card costs
- A long 0% balance transfer period if you want to pay off debt without interest
- Rewards, travel perks or other extras that you can use to get more value
- A bank you want to deal with (think good service, a cool app or mobile payments)
How important each of the above points is to you will help you decide which card will best fit your wallet.
Types of credit cards and how to find the best one for you
When you're looking for the best credit card, choosing a type or "category" first means you don't have to look at every card on the market. While there are hundreds of different cards on offer, there are really only 5 main types: balance transfer cards, no annual fee cards, frequent flyer and reward cards, low rate cards, and no interest, flat fee cards.
Different cards will work for different spenders (or savers). Here's how to find the best one for you.
If you… are paying too much credit card interest
- Want to get out of debt faster
- Want to combine 2+ cards into 1
Balance transfer credit cards
What are they?
Balance transfer credit cards give you a low or 0% interest rate for a period of time when you move your current credit card or loan balance(s) over to a new card. Having the interest-free period means you save on charges and can pay off your debt faster.
How to find the best balance transfer credit card
✅ Look for: A 0% balance transfer rate that lasts long enough for you to pay off your debt. The introductory period usually ranges from 6 to 36 months and after that, a higher interest rate kicks in. If you can pay off what you owe before that happens, you'll save more with a balance transfer deal.
⚠️ Watch out for: A balance transfer fee that eats too much into your savings. Not all offers charge one, but if they do, it's typically charged as 1–3% of the money you transfer.
If you… spend a lot and want to be rewarded for it
- Want more Qantas Points or Velocity Points
- Are looking for value (beyond saving money)
Frequent flyer and rewards credit cards
What are they?
Frequent flyer and rewards credit cards earn you points on your everyday spending, which you can then use to get travel, gift cards, experiences and more. There are also some cards that offer cashback rewards.
How to find the best frequent flyer or rewards credit card
✅ Look for: An introductory offer with at least 80,000 bonus points or $200 cashback. This will often balance out the card's annual fee in the first year. The points you earn per $1 spent (the "earn rate") will help you work out the value beyond that.
⚠️ Watch out for: Standard interest rates and annual fees that are higher than you're prepared to pay. For example, if you're only getting $250 of value from rewards and other perks but your annual fee is $450, it's not worth it.
If you… value a lower cost over lots of perks
- Want a card for emergencies
- Hardly ever use your credit card
No annual fee credit cards
What are they?
This type of credit card comes with a $0 annual fee for the first year, or for life. In comparison, some cards have annual fees of $450 or more. This makes a no annual fee card a good choice when you're looking for a low-cost card, especially if you usually pay off your balance each month (which cuts down on interest charges).
How to find the best no annual fee credit card
✅ Look for: How long you'll get the $0 annual fee and any other features you want on the card. If you get a card that has interest-free days on purchases, check how this works so you can avoid both an annual fee and interest charges.
⚠️ Watch out for: Cards that charge a high annual fee after the first year. There are also a few cards that offer an ongoing annual fee waiver if you spend a set amount each year, are a student or meet other requirements – so it pays to check the fine print (or ask).
If you… actually need credit
- Usually carry a balance
- Want to pay off big-ticket items over time
Low rate credit cards
What are they?
These credit cards offer a low interest rate on purchases, typically ranging from 8.99% p.a. to 14.99% p.a. In comparison, some other cards charge purchase rates from 18–22% p.a. There are also interest free credit cards that offer a 0% interest rate for purchases for the first few months.
How to find the best low rate credit card
✅ Look for: A long introductory 0% purchase period. Check how long the rate lasts and what it reverts to (the rate you'll pay on any unpaid balance). If you want an ongoing low rate, look for one below 14.99% p.a.
⚠️ Watch out for: Annual fees that will outweigh the savings of a low interest rate. And be careful if you want to withdraw cash, because cash advances usually incur a higher interest rate.
If you… want control over what you pay – and no interest
- Are looking for a buy now pay later alternative
- Tend to make impulsive purchases
No interest, flat monthly fee credit cards
What are they?
These credit cards don't charge any interest but do charge a flat monthly fee when you use them. Just like other credit cards, you'll still need to pay a minimum amount off the balance each month. If you're not using the card and/or don't have any money owing, the monthly fee is usually refunded.
How to find the best no interest, monthly fee credit card
✅ Look for: A monthly fee that fits your budget and how much you plan to spend. The fee is based on the credit limit you choose, and whether or not you use the card and/or carry a balance. Depending on the card, you can also get shopping deals or rewards.
⚠️ Watch out for: Paying more in fees than you have to. Even though you don't have to pay interest, the monthly fees can end up costing you more than interest on a standard low rate card. You can use our repayment calculator to figure out your potential savings.
Want something else from your credit card? There are lots of other credit cards on the market. So if you're after a really specific feature – such as complimentary flight vouchers or business credit cards – you can check out Finder's other guides. Or, head to the credit card comparison homepage for more details on the different cards and features you can get in Australia.
Common questions about finding the best type of card for you
Sometimes people will look at 2 or more types of credit cards – or even another payment method – when they're trying to find the best fit for them. So we've answered some of the most common "which is better" questions to help you decide.
Which is best: Rewards or frequent flyer credit cards?
If you're focused on earning points through Qantas Frequent Flyer or Velocity Frequent Flyer, a card that earns those points makes the most sense. With some cards, the bonus points alone could be enough to get you a business class flight or holiday.
On the other hand, a rewards credit card gives you better options if you're a member of a few loyalty programs and want to transfer points between them. Rewards credit cards also give you lots more choice if travel is not a part of your plan right now or you're more interested in cash rewards and retail goodies.
Which is best: A low interest rate or no annual fee on your credit card?
Low rate credit cards are better if you don't pay your bill in full every month. You'll still have to pay more than what you borrowed, but it will usually cost you less than a card with no annual fee (and so, a higher interest rate).
A $0 annual fee card is great if you pay as you go or repay everything when it's due. This means you won't be paying interest charges anyway, so paying no annual fee means you can effectively pay nothing to use your card.
Which is best: A 0% balance transfer credit card or a personal loan?
A 0% balance transfer credit card works well for credit card debt if you can pay the debt off within 3 years. This is because the 0% introductory rate usually lasts for between 6 and 36 months.
If you want smaller repayments spread out over a longer period of time, personal loans offer terms from 1 to 5 years – and some offer up to 10 years. So you'll pay interest, but it could make it easier to chip away at what you owe. Personal loans also let you consolidate different types of debts, including credit card debt, other loans and even some buy now pay later debt.
Which is best: No interest, flat monthly fee cards or a buy now pay later (BNPL) plan?
A no interest credit card with a flat, monthly fee might be good if you want to be able to pay off what you buy over time without being limited to selected retailers (which you sometimes are with Afterpay, Klarna and some other BNPL plans). These credit cards are also better if you want to build up your credit history, because most BNPL plans don't add to your credit report.
But if you mostly shop with the partnered brands and can make all of your payments on time (to avoid late fees), you could use a platform like Afterpay without any costs. And if you already have an account that you're happily using, there's probably no reason to get a credit card – unless you want to build your credit history.
Which credit card is the best in Australia?
There isn't an overall "best" credit card in Australia, but we still hear this question all the time. That's why Finder has looked at hundreds of credit cards to find our top picks for 5 popular types of credit card.
- Balance transfer: Kogan Money Black Card - Exclusive Offer
- $0 annual fee: St.George Vertigo Card
- Frequent flyer: Citi Premier Qantas Card
- Low rate: Bankwest Breeze Classic Mastercard
- Rewards: NAB Qantas Rewards Signature Card
🧪 Methodology: How we chose our Top Picks
Based on extensive user testing and thousands of credit card comparisons, we've evaluated cards based on criteria that people care about and narrowed it down into a few broad categories.
However, keep in mind that our "top" picks may not always be best for you. Based on your situation, you may find certain features to be more or less important, so compare your options before you apply.
While we looked at a range of cards available to us for our "top" picks, we did not compare all the products available in the market. Within each category, we narrowed down our choices based on the cards available through Finder as well as the following:
We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But Finder may receive compensation when you click links on our site. Learn more about how we make money from our partners.Back to top
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