Credit Card Fees 2019

Whether it’s the annual fee, currency conversion costs or balance transfer fee, find out everything you need to know to avoid credit card fees in Australia and overseas.

Credit cards have a wide range of features and benefits, but also come with many different fees and charges. These costs quickly add up and can lead to serious credit card debt when they’re left unchecked.

The good news is that you can avoid most credit card fees if you’re aware of them. Here, we outline the most common credit card fees, how much they’re worth, and what you can do to stop or minimise their impact on your card.

Annual fees

Most credit cards charge an annual fee, with the cost usually ranging from as little as $20 to $700 or more. If your credit card offers a lot of features and benefits – such as a rewards program or complimentary travel insurance – it's more likely to have a high annual fee.

Annual fees usually start when you first activate a card, and are then charged on the same monthly statement for every year you have the card. Some cards also waive this fee in the first year, so be sure to check the ongoing rates and fees before you apply.

How to avoid it: If you take advantage of credit card perks, you could find that the value they offer outweighs the cost of the annual fee. Otherwise, you should consider a card that offers a lower fee or one that charges no annual fee for life.

How Alex avoided annual fees

Alex currently pays an annual fee of $199 for her platinum rewards credit card. While she earns 1 point per $1 spent on the card, she only spends about $12,000 per year. This is just enough points to get a $100 gift card, which means Alex is paying $99 more for the card than what she gets from the benefits.

By switching to a no annual fee rewards credit card, such as the Qantas American Express Discovery or Coles Platinum No Annual Fee Mastercard, Alex can save between $99 and $199 on the card and still get rewards.

Compare no annual fee credit cards

Rates last updated October 15th, 2019
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate Product Description
Citi Clear Platinum Credit Card
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% for 9 months, reverts to 14.99% p.a.
0% p.a. for 9 months
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.
ME frank Credit Card
$0 p.a.
11.99% p.a.
Save money with an ongoing $0 annual fee, the same low 11.99% p.a. interest rate on purchases and cash advances, and up to 55 days interest free.
Latitude 28° Global Platinum Mastercard
$0 p.a.
21.99% p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.
St.George Vertigo Classic - Exclusive Offer
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% for 14 months, reverts to 13.99% p.a.
0% p.a. for 6 months
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
HSBC Platinum Qantas Credit Card
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
19.99% p.a.
0% p.a. for 12 months
Save with a $0 first year annual fee and a long-term balance transfer offer. Plus, complimentary travel insurance.
Citi Rewards Platinum Credit Card - Balance Transfer Offer
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
21.49% p.a.
0% p.a. for 26 months with 1.5% balance transfer fee
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus $0 first year annual fee.
CUA Low Rate Credit Card
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
11.99% p.a.
0% p.a. for 13 months
Take advantage of a 0% p.a. balance transfer rate for 13 months, $0 first year annual fee, and a low variable 11.99% p.a. interest rate on purchases.
BOQ Platinum Visa Credit Card
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
20.74% p.a.
0% p.a. for 12 months
Enjoy 1,000 bonus Q Rewards points monthly when you meet the spend requirement, a 12-month balance transfer offer and $0 first year annual fee.
NAB Low Rate Business Card
$0 p.a. annual fee for the first year ($60 p.a. thereafter)
0% for 12 months, reverts to 13.25% p.a.
Save with 0% p.a. interest for 12 months on purchases and receive complimentary unauthorised transaction insurance. ABN required.
BankSA No Annual Fee
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Offers a 0% p.a. for 12 months balance transfer, up to 55 days interest-free on purchases and an ongoing $0 annual fee.
Bank of Melbourne No Annual Fee Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Enjoy 0% p.a. for 12 months on balance transfers, up to 55 days interest-free on purchases and no annual fee for the life of the card.
Virgin No Annual Fee Credit Card
$0 p.a.
18.99% p.a.
6.9% p.a. for 36 months
Offers 6.9% p.a. for 36 months on balance transfers and up to 44 days interest-free on purchases, all for a $0 annual fee.
St.George No Annual Fee
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Receive up to 55 days interest-free on purchases, a low minimum credit limit of $500 and a long-term balance transfer offer.

Compare up to 4 providers

Interest

Credit cards charge interest when you carry a balance. The amount you pay is based on a percentage of your balance. This percentage is represented by an annual rate, such as 19.99% p.a., but is calculated daily and charged monthly. Depending on your card, you could have any or all of the following interest rates applied to your balance:

  • Purchase rate. This is the interest rate charged for new purchases made on the card and can be anywhere from 10% p.a. to 22% p.a. (variable).
  • Cash advance rate. This is the interest rate applied for cash advance transactions, such as ATM withdrawals. It is usually between 19% p.a. and 22% p.a. (variable).
  • Balance transfer rate. This is the interest rate applied to any balance you have moved from an old card to the current card. If you get a balance transfer credit card, you will usually pay a low or 0% promotional rate for the introductory period. Standard balance transfer rates (after the intro period) are usually based on the card’s cash advance or purchase rate and can be as high as 22% p.a. (variable).
  • Promotional interest rate. This interest rate is usually offered to new cardholders for a set period of time, such as the first 12 months. If you’re looking at getting a card with a promotional interest rate for purchases or balance transfers, make sure you also check the standard interest rate that’s applied.

How to avoid it: If you pay your balance in full by the due date on your statement, you won’t be charged interest. But if you do carry a balance, aim to pay more than the minimum each month or choose a card that has a low ongoing interest rate, or a 0% promotional interest rate. These strategies will help you keep costs down, at least in the short term.

Thien's interest savings

Thien has a credit card with a $5,000 balance and an interest rate of 19.99% p.a. (variable). If he only makes minimum payments on this card, he will be charged around $955 in interest for the year.

If Thien switches to a card that offers a low ongoing interest rate of 12.99% p.a., he could save around $354 in interest over the course of the year. He could save even more money by making larger repayments. He would also be able to avoid interest charges completely if he transferred the debt to a 0% balance transfer card and paid it off before the end of the introductory period.

Compare 0% purchase credit cards

Rates last updated October 15th, 2019
$
Name Product Product Description Purchase rate (p.a.) Balance transfer rate Annual fee Interest Free Period Amount Saved
Citi Rewards Platinum Credit Card - Exclusive Offer
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
0% for 13 months, reverts to 21.49% p.a.
0% p.a. for 13 months
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Up to 55 days on purchases
St.George Vertigo Platinum
Features an introductory 0% p.a. purchase rate, $49 first year annual fee and complimentary travel insurance covers.
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Up to 55 days on purchases
St.George Vertigo Classic - Exclusive Offer
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
0% for 14 months, reverts to 13.99% p.a.
0% p.a. for 6 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Up to 55 days on purchases
Citi Clear Platinum Credit Card
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.
0% for 9 months, reverts to 14.99% p.a.
0% p.a. for 9 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Up to 55 days on purchases
HSBC Platinum Credit Card
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
0% for 12 months, reverts to 19.99% p.a.
0% p.a. for 12 months
$129 p.a.
Up to 55 days on purchases
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Enjoy 0% p.a. interest on purchases for 14 months, a reduced first year annual fee and Velocity Points per $1 spent.
0% for 14 months, reverts to 20.74% p.a.
0% p.a. for 6 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Up to 44 days on purchases
St.George Rainbow Vertigo Platinum
All the platinum features of the Vertigo Platinum Visa with a rainbow design in support of the LGBT community.
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Up to 55 days on purchases
Bank of Melbourne Vertigo Platinum
Offers a 0% p.a. purchase rate for 15 months, a reduced annual fee for the first year and complimentary travel insurance.
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Up to 55 days on purchases
BankSA Vertigo Platinum
Offers an interest-free purchase promotion, a discounted annual fee of $49 for the first year and complimentary travel insurance.
0% for 15 months, reverts to 12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Up to 55 days on purchases

Compare up to 4 providers

Balance transfer fees

Some balance transfer credit cards charge a fee for moving your existing debt from a current card to the new account. Balance transfer fees get charged as soon as you transfer a balance and get added to the principal amount of the debt you transferred, not accruing interest until the introductory period expires. Balance transfer fees (also known as balance transfer processing or administration charges) are usually between 1% and 3% of the total debt you move, which quickly adds up if you have thousands of dollars of debt.

How to avoid it: Compare balance transfer credit cards and look for options that don’t charge a balance transfer fee. Remember, the fee should be listed in the “Fees” section for any card you consider. You can also find out the fee by looking at a card’s Key Fact Sheet or Product Disclosure Statement.

Move your debt and save like Miranda

Miranda has seen a balance transfer credit card that offers 0% interest for 12 months and charges a 2.5% balance transfer fee. She has a $6,000 debt she wants to move, but would have $150 for the transfer fee added to her balance if she got this new credit card. Instead of applying, Miranda compares a range of balance transfer options and finds a different card that doesn’t charge a balance transfer fee. This means she can transfer her debt, save money on the process and pay off her balance faster.

Rates last updated October 15th, 2019
$
% p.a.

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Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
HSBC Platinum Credit Card - Balance Transfer Offer
0% p.a. for 22 months
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Citi Rewards Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months
0% for 13 months, reverts to 21.49% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
HSBC Platinum Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$129 p.a.
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 70,000 bonus Velocity Points when you meet the spend requirement. Plus, save with a 0% interest for 18 on balance transfers.
St.George Vertigo Classic - Exclusive Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Get a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and a 14-month balance transfer.
Emirates Citi World Mastercard
0% p.a. for 9 months
21.49% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Receive up to 60,000 bonus Skywards Miles and pay half the annual fee for the first year.
Citi Clear Platinum Credit Card
0% p.a. for 9 months
0% for 9 months, reverts to 14.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.
St.George Amplify Signature
0% p.a. for 6 months
19.74% p.a.
$139 p.a. annual fee for the first year ($279 p.a. thereafter)
Earn up to 200,000 bonus Amplify Points (130k in the first year & 70k in the second year) when you spend $12k / year for the first 2 years.
BOQ Platinum Visa Credit Card
0% p.a. for 12 months
20.74% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 1,000 bonus Q Rewards points monthly when you meet the spend requirement, a 12-month balance transfer offer and $0 first year annual fee.
BOQ Blue Visa Credit Card
0% p.a. for 6 months
20.74% p.a.
$60 p.a.
Receive $120 cashback when you spend $500 per month on retail purchases for the first 3 months, and a 6 month interest-free balance transfer offer.
BOQ Low Rate Visa Credit Card
0% p.a. for 14 months
13.49% p.a.
$55 p.a.
A no-frills card offering 0% on balance transfers for the first 14 months with no balance transfer fee. Plus, a competitive purchase interest rate.

Compare up to 4 providers

Foreign transaction fees

Most credit and debit cards apply a foreign transaction fee when you use your card overseas or when you shop online with an international merchant. This charge – also known as an “international transaction fee” or “currency conversion fee” – is usually between 1% and 3.5% of the total transaction.

How to avoid it: Look for a credit card that doesn’t apply a foreign transaction fee, such as the Latitude 28° Global Platinum Mastercard or any platinum Bankwest credit card. You could also consider a prepaid travel card that lets you load and use funds in several currencies, cash, traveller’s cheques or a combination of travel money options that can help reduce the fees you pay when you’re overseas or shopping online.

How Jai saved on transaction fees on holiday

Jai has just got back from a trip to Brazil, where he spent $3,000 on his credit card. He checks his statement and sees that a 3% foreign transaction fee was applied each time he used the card, adding $90 to his total bill. While Jai has to pay the fees this time, he decides to shop around for a card with no foreign transaction fee so that he saves money on all his future trips.

Rates last updated October 15th, 2019
Name Product Foreign Currency Conversion Fee Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Latitude 28° Global Platinum Mastercard
0% of transaction value
$0
3% of the cash advance or $4 (whichever is greater)
$0 p.a.
No foreign transaction fees on international purchases including international purchases online, together with a no annual fee.

Compare up to 4 providers

Cash advance fees

This fee is charged for “cash advance” transactions, including when you withdraw money from an ATM, buy foreign currency or pay with plastic whilst gambling. In these instances, you’ll be charged between 2% and 3.5% of the total transaction. Some cards also have a minimum cash advance fee of between $20 and $35. But this isn’t the only cost for using your credit card for cash transactions: you’ll also be charged the cash advance rate of interest from the day the transaction is made.

How to avoid it: Don’t use your credit card to get cash out. Avoid using it to buy foreign currency or for transactions in a casino. Also check with your credit card provider about other transactions where this fee applies and steer clear of them. If you need to get cash at any time, use a debit card or set up a savings account so you will have cash if you need it in an emergency.

Valentina's cash advance mistake

Valentina has run out of cash at a music festival. She isn’t sure of the balance of her everyday transaction account, so she withdraws $1,000 using her credit card. When she gets her next statement, she sees she has been charged a 3% fee worth $30. The cash advance interest rate of 21.99% p.a. has also been charged for 20 days, totalling $12, which means Valentina has paid $42 for using her credit card. In the future, she decides to keep more cash on hand and make sure she has some available on her debit card to avoid these fees.

Rates last updated October 15th, 2019
Name Product Interest Free Period Cash advance rate (p.a.) Purchase rate (p.a.) Annual fee Product Description
Latitude Low Rate Mastercard
Up to 55 days on purchases
18.89% p.a.
9.89% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

Compare up to 4 providers

Late payment fees

If you don’t make a payment on your credit card by the due date on your statement, you could be charged a late payment fee worth anywhere from $0 to $30. Some providers charge this straight away, while others may not apply a late fee unless they have to contact you to make a payment. Note that even if a late fee is not charged, other penalties could apply and it may affect your credit history.

How to avoid it: Always make payments before the due date on your statement, and make sure you factor in processing times for the payment method you choose. You may even want to set up an automatic payment from your transaction account so that you always meet this deadline. It’s also a good idea to check your credit card Product Disclosure Statement for terms and conditions around late payments so that you know exactly how much you will pay and what else could apply.

Over limit fees

You could be charged an “over limit fee” if you max out your credit card in a statement period. Not all credit card companies apply this charge, but if they do it could be anywhere from $5 to $35 extra.

How to avoid it: Regularly check your credit card balance so that you know what your “available credit limit” is when using the card. If you regularly get close to going over the limit, you may also want to consider requesting a credit limit increase.

List of bank's late and over limit fees

Reward program fees

Some rewards credit cards charge an annual fee for choosing a particular rewards program. Usually this only applies to cards that give you a choice between standard rewards and Qantas rewards, such as the Citi Qantas Rewards program that you can opt into with a Citi Rewards card. This fee is usually between $30 and $50 and applies on top of the card’s annual fee.

How to avoid it: Carefully read the terms and conditions of any rewards program you’re considering. If a fee is charged for opting to earn Qantas rewards, make sure the value of the card will outweigh this cost (and the annual fee). You may also want to consider a Qantas frequent flyer card that doesn’t charge a reward program fee.

How Antony got the most out of his rewards credit card

Antony has opted to earn Qantas rewards on his current credit card, at a rate of 1 point per $1 spent. He pays an extra $30 per year for the program, along with an annual fee of $200. He decides to switch to the NAB Qantas Rewards card, which has an annual fee of $95 and offers 0.5 points per $1 spent on a Visa and 1 point per $1 spent on an American Express card linked to the account. This saves him $135 a year, while also giving him the opportunity to earn just as many points.

Rates last updated October 15th, 2019
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
Qantas Premier Platinum
120,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$199 p.a. annual fee for the first year ($299 p.a. thereafter)
Get up to 120,000 bonus Qantas Points (20,000/month) when you spend $1,500/month for the first 6 months. Plus, complimentary lounge passes.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
70,000 bonus points
Velocity Frequent Flyer
0.66
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 70,000 bonus Velocity Points when you meet the spend requirement. Plus, save with a 0% interest for 18 on balance transfers.
Qantas American Express Ultimate Card
120,000 bonus points
Qantas Frequent Flyer
1.25
20.74% p.a.
$450 p.a.
Get 120,000 bonus Qantas Points. Plus, a $450 Qantas Travel Credit and 2 complimentary Qantas Club lounge invitations per year.
NAB Qantas Rewards Signature Card
120,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect up to 120,000 bonus Qantas Points. Get 90,000 when you spend $3,000 on eligible purchases in the first 60 days and 30,000 after 12 months.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
30,000 bonus points
Velocity Frequent Flyer
0.66
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% p.a. interest rate on balance transfers for the first 22 months, with a 1% balance transfer fee. Plus, a reduced $64 first year annual fee.
St.George Amplify Platinum - Qantas
60,000 bonus points
Qantas Frequent Flyer
0.5
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas points per $1 spent.
HSBC Platinum Qantas Credit Card
Qantas Frequent Flyer
1
19.99% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Save with a $0 first year annual fee and a long-term balance transfer offer. Plus, complimentary travel insurance.
Citi Rewards Platinum Credit Card
120,000 bonus points
Citi Rewards Program
1
21.49% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
80k bonus Citi reward Points when you spend $3,000 in 90 days and 40k the second year, up to 120,000 total. 120k Points = 48k Velocity Points.
Qantas Premier Everyday
42,000 bonus points
Qantas Frequent Flyer
0.75
19.99% p.a.
$29 p.a. annual fee for the first year ($49 p.a. thereafter)
Get up to 42,000 bonus Qantas Points (7,000/month) when you spend $1,000/month for the first 6 months. Plus, complimentary insurance covers.
Bank of Melbourne Amplify Platinum - Qantas
60,000 bonus points
Qantas Frequent Flyer
0.5
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn up to 0.5 Qantas Points per $1 spent.
St.George Amplify Signature - Qantas
80,000 bonus points
Qantas Frequent Flyer
0.75
19.74% p.a.
$139 p.a. annual fee for the first year ($279 p.a. thereafter)
Get 80,000 bonus Qantas Points when you spend $6,000 in 90 days and 2 complimentary Qantas Club lounge invitations per year.
Bank of Melbourne Amplify Signature - Qantas
80,000 bonus points
Qantas Frequent Flyer
0.75
19.74% p.a.
$139 p.a. annual fee for the first year ($279 p.a. thereafter)
Offers 80,000 bonus Qantas Points when you spend $6,000 in 90 days, plus, 2 Qantas lounge passes per year and a discounted first year annual fee.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Velocity Frequent Flyer
0.66
0% for 14 months, reverts to 20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 0% p.a. interest on purchases for 14 months, a reduced first year annual fee and Velocity Points per $1 spent.
American Express Qantas Business Rewards Card
100,000 bonus points
Qantas Business Rewards
1.25
N/A
$450 p.a.
ABN holders w/ $75,000 p.a. revenue. Get 100,000 bonus Points, 3x points on eligible Qantas flights and 2 yearly lounge passes.
American Express Velocity Platinum Card
50,000 bonus points
Velocity Frequent Flyer
1.25
20.74% p.a.
$375 p.a.
Get 50,000 bonus Velocity Points when you spend $3,000 for the first 3 months. Plus, 100 Status Credits and luxury travel perks.
St.George Amplify
Amplify Rewards / Qantas Frequent Flyer
1
19.74% p.a.
$79 p.a.
Earn uncapped Amplify or Qantas Points per dollar spent, plus, up to 55 interest-free days on purchases.
American Express Platinum Business Card
120,000 bonus points
Membership Rewards
2.25
N/A
$1,750 p.a.
ABN holders w/ $75,000 p.a. revenue. Get 120,000 bonus points and up to 2.25 points/ $1 spent on eligible business purchases.
American Express Velocity Escape Card
Velocity Frequent Flyer
0.75
20.74% p.a.
$0 p.a.
Earn uncapped Velocity Points on purchases and save with a $0 annual fee for life and a 0% p.a. for 12 months balance transfer offer.
Latitude Infinity Rewards Visa
Latitude Infinity Rewards
1
20.69% p.a.
$69 p.a.
Earn an uncapped 1.00 Latitude Infinity Reward point per dollar with no expiry, plus get up to 55 days interest-free on purchases.
American Express Business Explorer Credit Card
100,000 bonus points
Membership Rewards Gateway
2
16.99% p.a.
$395 p.a.
ABN holders w/ $75,000 p.a. revenue. Get 100,000 bonus points. Plus, 2 yearly lounge passes on this business card.

Compare up to 4 providers

Credit card surcharges

This fee is actually charged by businesses rather than your credit card provider. Credit card surcharges are usually between 0.8% and 3% of the total transaction cost, but some merchants apply a flat fee that could be much higher (such as airlines).

How to avoid it: You can avoid this fee by having another payment option available – such as a debit card, cash, direct transfer or by using a service such as POLi or PayPal. Remember that all merchants legally have to notify you of a surcharge before you make a payment. It’s also important to note that the regulations around surcharges have recently changed, so the cost should be reduced if and when you do have to deal with this cost.

Other credit card fees

These credit card fees are less common, but it’s still good to know when they may apply and how you can avoid them.

  • Chargeback fee. If you need to reverse a credit card transaction through your credit card provider, you could be charged a fee of around $10–25. You can avoid this fee by trying to get a refund with the merchant before going to your credit card provider.
  • Card replacement fees. Most credit card companies don’t charge a fee if you need a replacement card in Australia. But for fast-tracking or overseas replacements, you could pay anywhere from $30 to $200 for the service. Check with your credit card company to find out about these costs, and have a backup payment option so that you don’t need to speed up the process of getting a new card if yours is lost, stolen or damaged.
  • Additional cardholder fee. Some credit cards charge an annual fee when you request an additional or supplementary cardholder for your account, usually around $5 to $35. If you know you want to share your account with a partner or family member, make sure you check for this fee, as there are many cards that don’t charge it.
  • Paper statement fee. Some credit card companies will charge you a fee if you request paper statements for your account. Usually this will be around $5 to $10, but you can avoid it by opting for paperless statements delivered to your email or via Internet banking.
  • Non-bank ATM fee. If you use your credit card to withdraw cash or check your balance at an ATM outside of your credit card provider’s network, you could be charged a fee of up to $5. There may also be additional charges from the ATM operator, so avoid getting cash out and check your balance via Internet or mobile banking instead.

While credit cards come with many different benefits, they often have just as many fees. But now that you know more about these charges, you can make informed decisions about how and when you pay with plastic to avoid them and keep your card working for you.
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4 Responses

  1. Default Gravatar
    SpentcerDecember 22, 2017

    Hi. I am interested to know if there is a limitation on how many times a Credit Card Company can charge a ‘late payment’ fee and/or a ‘missed payment’ fee during the course of one year? I have heard that they can only charge this fee once in a twelve month period, is this the case? Can I request the reversal of subsequent, repeat charges of these fees or am I mistakenly optimistic? Thanks for your expertise, its worth its weight in ‘credit card fees’.

    • Default Gravatar
      ArnoldDecember 23, 2017

      Hi Spencer,

      Thanks for your inquiry

      Generally, a late payment fee (a late charge) is charged to a borrower who misses paying at least their minimum payment by the payment deadline.

      Depending on your credit card’s late fee policy and whether it’s your first time being late in the past six months. You’ll be charged a late fee each month your payment is late or less than the minimum payment.

      It would be best to check the terms and conditions of your credit card or contact your credit card issuer to clarify this matter.

      Hope this information helps

      Cheers,
      Arnold

  2. Default Gravatar
    LeanneApril 14, 2013

    I’ve recently switched credit card providers and was shocked when they charged me a cash advance fee for buying a lotto ticket online at tatts.com.au, and then interest on the cash advance fee! Their answer is that website is considered a gambling website and they will charge me extra fees for gambling online. I’ve never gambled, I always pay off my balance in full each month and never get charged any interest or extra fees until now. Can you recommend a credit card that wouldn’t charge me extra for buying a lotto ticket online? Thank you.

    • Avatarfinder Customer Care
      JacobApril 15, 2013Staff

      Hi Leanne. Thanks for your question. Please see this page for an answer to your question. It depends on the provider as to whether the transactions is treated as a purchase or a cash advance – some providers don’t allow these types of transactions at all. Hope this has helped, let us know if you have any further questions. Jacob.

Credit Cards Comparison

Rates last updated October 15th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months
$199 p.a. annual fee for the first year ($299 p.a. thereafter)
Get up to 120,000 bonus Qantas Points (20,000/month) when you spend $1,500/month for the first 6 months. Plus, complimentary lounge passes.
Latitude Low Rate Mastercard
9.89% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 70,000 bonus Velocity Points when you meet the spend requirement. Plus, save with a 0% interest for 18 on balance transfers.

Compare up to 4 providers

* 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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