What is the best credit card in Australia? With so many products available, there isn’t one card that is right for every person. But thinking about the features you want, your spending habits and your financial history can help you compare your options and find the best credit card for you.
American Express Credit Card Offer
Qantas American Express Ultimate Card
Receive 100,000 bonus Qantas Points
Offer ends 14 April 2020
Eligibility criteria, terms and conditions, fees and charges apply
American Express Credit Card Offer
The Qantas American Express Ultimate Card offers 100,000 bonus Qantas Points, complimentary travel benefits and up to 2.25 Qantas Points per $1 spent on eligible purchases.
Get 100,000 bonus Qantas Points when you apply online, are approved by 14 April 2020 and spend $3,000 on eligible purchases in the first 3 months
$450 annual fee and 20.74% p.a. purchase interest rate
Receive a $450 Qantas Travel Credit each year
4 yearly complimentary airport lounge passes: 2 Qantas Club and 2 Amex Lounge
*The credit card offers compared on this page are chosen from a range of credit cards available to us and are not representative of all the products available in the market. The use of the terms "best" and "top" are not product ratings and are subject to our disclaimer. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.
VIDEO: How to choose the best credit card
What is the best credit card for me?
To choose the right credit card, you need to look at how you plan to use it, your current financial situation and your future goals. That way you can compare different features and benefits based on your circumstances.
What are they? You can use a balance transfer credit card to pay off existing debt faster with a low or 0% interest rate for an introductory period.
Who are these cards suited to? People who have an existing credit, store or charge card debt and are paying interest at a higher rate than necessary.
How can I find the best balance transfer credit card?
Compare balance transfer offers. Most offers give you a 0% interest rate for an introductory period, so you'll need to look at how many months this rate applies and what interest rate is charged at the end of it.
Check for fees. As well as the annual fee, check to see if a one-time balance transfer fee will apply and make sure it doesn't outweigh the potential savings.
finder.com.au's pick for balance transfers: Virgin Australia Velocity Flyer - Balance transfer offer
What are they? Frequent flyer and rewards credit cards give you a way to earn points on your everyday purchases, which you can then redeem for travel, merchandise, experiences and more.
Who are these cards suited to? Frequent flyer and rewards members who pay off the balance of their credit card each month and want to earn points for their spending.
How can I find the best frequent flyer credit or rewards card?
Choose the program you want to earn points through. As well as Qantas Frequent Flyer and Velocity Frequent Flyer credit cards, you can look at cards that earn bank or credit card rewards points, such as American Express Membership Rewards or Westpac Altitude Rewards cards.
Compare the earn rate. This is the number of points you earn per $1 spent on eligible purchases. Check if there's a cap on how many points you can earn each month or each year and whether that will limit your points potential.
Other valuable features. Are there any bonus points on offer, complimentary insurance covers, status credits, airport lounge passes or an annual fee waiver?
finder.com.au's pick for Qantas Points: Qantas American Express Ultimate card
When you spend $3,000 on eligible purchases in the first 3 months, you'll score 100,000 bonus Qantas Points. The Qantas American Express Ultimate card also offers four lounge passes and a $450 Qantas Travel Credit each year. These perks come at the cost of a $450 annual fee.
finder.com.au's pick for Velocity Points: American Express Velocity Platinum card
The American Express Velocity Platinum card offers 50,000 Velocity Points when you apply, are approved and spend $3,000 on eligible purchases within the first 3 months from card approval. This card also boasts two complimentary single entry passes to Virgin Australia lounges and a complimentary domestic return flight with Virgin Australia. These perks come at the cost of a $375 annual fee.
What are they? These credit cards offer a lower interest rate on purchases – whether promotional or otherwise – and lower fees when compared to other cards.
Who are these cards suited to? If you plan to pay off purchases over time and want to keep your interest charges to a minimum, a low cost, low fee credit card could be a good option.
How can I find the best low cost credit card for me?
Compare the interest rates. The lower the purchase rate, the better. Remember to look at the standard rate charged for purchases, as well as any introductory interest rate offers.
Look at fees and other features. Weigh the card's annual fee against the potential savings you'll get from the low purchase rate and consider any other perks such as complimentary insurance or concierge services.
finder.com.au's pick for a low cost credit card: Coles No Annual Fee Mastercard
The Coles No Annual Fee Mastercard offers $0 annual fee and 0% interest on balance transfers for the first 18 months with a one-time 1.5% balance transfer fee when you apply by 30 April 2020. You can also earn 0.5 flybuys points per $1 you spend on eligible purchases (this doesn't include balance transfers).
Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.
Credit Cards Comparison
Updated April 1st, 2020
* The credit card offers compared on this page are chosen from a range of credit
cards finder.com.au has access to track details from and is not representative
of all the products available in the market. Products are displayed in no particular
order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are
subject to our disclaimer.
You should consider seeking independent financial advice and consider your own
personal financial circumstances when comparing cards.
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