Credit Card Fees

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, which can cost as little as $20 or as much as $1,200. The more features and benefits a credit card has – such as a rewards program or complimentary travel insurance – the more likely it is to have a high annual fee.

Annual fees usually start when you first activate a card, and are then applied around the same date 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 American Express Qantas 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 April 30th, 2017.

ANZ Rewards Platinum

A new offer of $250 Westfield Gift Card on eligible spend plus $0 annual fee for the first year

March 1st, 2017

ANZ Frequent Flyer Black

A new offer of 75 Bonus Status Credit which is valid until 30 June 2017.

March 8th, 2017

American Express Platinum Edge Credit Card

First year annual fee waiver, 0% balance transfer and 5,000 bonus points offers have been extended.

March 28th, 2017

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Jonathan Choi Jonathan
Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.)
Citi Simplicity Card
Pay no annual fee ever, plus receive access to complimentary purchase insurance and the Citibank Dining Program.
$0 p.a. 19.99% p.a. 0% p.a. for 15 months with 1.5% balance transfer fee Go to site More info
American Express Essential®  Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
$0 p.a. 14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee Go to site More info
Coles No Annual Fee MasterCard
Pay no annual fee for the life of the card and enjoy up to 62 interest-free days on purchases.
$0 p.a. 19.99% p.a. 0% p.a. for 6 months Go to site More info
Coles Platinum No Annual Fee MasterCard
Enjoy platinum benefits and no annual fee for the life of the card, plus earn 1 flybuys point for every $2 spent.
$0 p.a. 19.99% p.a. 0% p.a. for 6 months Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
$0 p.a. annual fee for the first year ($87 p.a. thereafter) 0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months Go to site More info
Qantas American Express Discovery Card
Take advantage of no annual fee for the life of the card plus earn 1 Qantas Frequent Flyer point per $1 spent.
$0 p.a. 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
$149 p.a. 19.99% p.a. 0% p.a. for 15 months Go to site More info
NAB Rewards Platinum Card
Enjoy 80,000 bonus points when you spend $2,500 on everyday purchases within 90 days from card approval. Benefit from $0 annual fee for the first year and a range of platinum features.
$0 p.a. annual fee for the first year ($195 p.a. thereafter) 19.99% p.a. 4.99% p.a. for 6 months Go to site More info
ANZ Frequent Flyer Black
Receive 75,000 bonus Qantas Points when you spend $2,500 on eligible purchases within the first 3 months. Plus, earn 75 Bonus Status Credits when you apply by 30 June 2017, buy and fly return with Qantas by 30 September 2017.
$0 p.a. annual fee for the first year ($425 p.a. thereafter) 19.99% p.a. Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points when you apply online and meet the minimum spend requirement, plus earn up to 2 points for every $1 you spend, together with a $0 annual fee.
$0 p.a. 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee Go to site More info
American Express Platinum Edge Credit Card
Receive 5,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy a $200 travel credit every year and pay no annual fee for the first year.
$0 p.a. annual fee for the first year ($195 p.a. thereafter) 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee Go to site More info
ANZ Rewards Platinum
Receive $250 Westfield Gift Card when you spend $2,500 within 60 days from card approval, earn up to 1.5 points per $1 spent on eligible purchases, plus enjoy a $0 annual fee for the first year.
$0 p.a. annual fee for the first year ($95 p.a. thereafter) 18.79% p.a. Go to site More info
Woolworths Everyday Platinum Credit Card
Receive a $100 eGift Card when you apply by 30 June 2017 and make an eligible purchase by 31 July 2017. Also, enjoy a long-term balance transfer offer and an annual fee waiver for the first year.
$0 p.a. annual fee for the first year ($49 p.a. thereafter) 19.99% p.a. 0% p.a. for 14 months Go to site More info
ANZ Frequent Flyer Platinum
Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months. Enjoy a waived annual fee for the first year and earn up to 0.750 Qantas Points for spending.
$0 p.a. annual fee for the first year ($295 p.a. thereafter) 19.99% p.a. Go to site More info
NAB Rewards Business Platinum Card
Enjoy 80,000 bonus points when you meet the spend criteria, earn 1 rewards point per $1 spent and enjoy a $0 annual card fee for the first year.
$0 p.a. annual fee for the first year ($175 p.a. thereafter) 18.50% p.a. Go to site More info

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 April 30th, 2017.

St.George Vertigo Platinum

Balance transfer offer has been changed to 0% p.a. for 12 months and is valid until 1 May 2017.

February 21st, 2017

St.George Vertigo Visa

Balance transfer offer has been changed to 0% p.a. for 12 months and is valid until 1 May 2017.

February 21st, 2017

Virgin Australia Velocity Flyer Card - 0% Interest Offer

0% purchase and balance transfer offers have been extended until 15 June 2017.

April 3rd, 2017

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Jonathan Choi Jonathan
$
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period Interest Saved
St.George Vertigo Visa
Introductory offer of 0% p.a. for 12 months on balance transfers and 0% p.a. for 6 months on purchases, plus a low annual fee.
0% p.a. for 6 months (reverts to 13.24% p.a.) 0% p.a. for 12 months $55 p.a. Up to 55 days on purchases Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Up to 55 days on purchases Go to site More info
Westpac Low Rate Card
A no frills credit card with an introductory rate of 0% p.a. for 12 months on balance transfers and 0% p.a. for 6 months on purchases.
0% p.a. for 6 months (reverts to 13.49% p.a.) 0% p.a. for 12 months $59 p.a. Up to 55 days on purchases Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Earn Velocity Rewards points with your purchases and pay no interest with 0% p.a. for 12 months on purchases and 0% p.a. for 6 months on balance transfers.
0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. Up to 44 days on purchases Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 12 months and an introductory purchase offer of 0% p.a. for 6 months.
0% p.a. for 6 months (reverts to 12.74% p.a.) 0% p.a. for 12 months $99 p.a. Up to 55 days on purchases Go to site More info

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 (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 to pay $150 for the transfer fee 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 an annual fee. This means she can transfer her debt, save money on the process and pay off her balance faster.

Compare credit cards with no balance transfer fee

Rates last updated April 30th, 2017.

Woolworths Everyday Platinum Credit Card

$100 has replaced $50 eGift Card plus BT & annual fee offers have been extended until 30 June 2017.

April 1st, 2017

Virgin Money Low Rate Credit Card

Balance transfer period has changed from 6 months to 12 months and is valid until 15 June 2017.

April 3rd, 2017

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

1.5% BT fee has been added to the existing balance transfer offer which is valid until 15 June 2017.

April 3rd, 2017

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$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
0% p.a. for 18 months with 1.5% balance transfer fee 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
NAB Rewards Platinum Card
Enjoy 80,000 bonus points when you spend $2,500 on everyday purchases within 90 days from card approval. Benefit from $0 annual fee for the first year and a range of platinum features.
4.99% p.a. for 6 months 19.99% p.a. $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
0% p.a. for 15 months 19.99% p.a. $149 p.a. Go to site More info
Emirates Citi World Mastercard
Receive up to 50,000 bonus points and enjoy a reduced annual fee for the first year.
0% p.a. for 9 months 20.99% p.a. $149 p.a. annual fee for the first year ($299 p.a. thereafter) Go to site More info
Bankwest More World MasterCard
Enjoy a low balance transfer rate and earn 2.5 per $1 spent on eligible purchases.
2.99% p.a. for 9 months 19.99% p.a. $240 p.a. Go to site More info
Bankwest Qantas World MasterCard
Earn uncapped Qantas Points per $1 spent on eligible purchases. Also enjoy no foreign transaction fees on online and overseas spend.
2.99% p.a. for 9 months 20.49% p.a. $270 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Receive up to 30,000 bonus Velocity Points and earn 1 Velocity Points per $1 spent. Receive an exclusive $129 Virgin Australia Gift Voucher and two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
1.9% p.a. for 15 months 20.74% p.a. $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 12 months 0% p.a. for 3 months (reverts to 19.74% p.a.) $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Bank of Melbourne Amplify Platinum
Enjoy introductory offers on purchases and balance transfers with a sign up bonus points of 30,000 on eligible spend.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $99 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 12 months and 0% p.a. for 6 months on purchases combined with complimentary insurance covers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
Bank of Melbourne Amplify Card
Enjoy a 0% p.a. interest for 12 months on balance transfers and 0% p.a. for up to 6 months on purchases. Also earn Amplify points on purchases to redeem rewards and travel through Amplify Rewards.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $79 p.a. Go to site More info
Bank of Melbourne Amplify Signature
Receive 30,000 bonus points when you meet the minimum spend. Also enjoy low introductory offers on purchases and balance transfers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $279 p.a. Go to site More info
BankSA Vertigo Platinum
Enjoy 0% balance transfer rate for 12 months and 0% purchase rate for 6 months if you apply and are approved by 1 May 2017.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 12 months and 0% p.a. for up to 6 months on purchases.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 12 months on balance transfers and 0% p.a. for 6 months on purchases, plus a low annual fee.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 12 months and an introductory purchase offer of 0% p.a. for 6 months.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
St.George Amplify Card
A low interest rate of 0% p.a. for 12 months on balance transfers and a purchase offer of 0% p.a. for 6 months.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $79 p.a. Go to site More info
St.George Amplify Signature
Receive 30,000 sign-up bonus points with low introductory interest rates on purchases and balance transfers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $279 p.a. Go to site More info
St.George Amplify Platinum
This card features a 30,000 bonus points offer and introductory interest rates on balance transfers and purchases.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $99 p.a. Go to site More info
BankSA Amplify Card
The BankSA Amplify Card is a brand new rewards credit card that allows you to earn more Qantas Points combined with low purchase and balance transfer offers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $79 p.a. Go to site More info

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 28 Degrees 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.

Compare no foreign currency exchange credit cards

Rates last updated April 30th, 2017
Foreign Currency Conversion Fee (MC) Foreign Currency Conversion Fee (VISA) Overseas ATM Withdrawal Fee Annual fee
Bankwest Zero Platinum MasterCard
Complimentary travel insurance & 24/7 concierge service and $0 foreign transaction fees.
0% of transaction value $0 p.a. Go to site More info
28 Degrees Platinum MasterCard
No foreign transaction fees on international purchases including international purchases online, together with a no annual fee.
0% of transaction value $0 $0 p.a. Go to site More info
ANZ Rewards Travel Adventures card
Pay no overseas transaction fee on purchases, earn up to 1.5 for every dollar spent on eligible purchases, plus receive complimentary domestic return flight and lounge passes each year you hold the card when you spend $500 on eligible purchases within the first three months.
0% of transaction value $225 p.a. Go to site More info
Coles Platinum Rewards MasterCard
Enjoy 2 flybuys points for every $1 spent and pay a low annual fee.
0% of transaction value $4 $89 p.a. Go to site More info

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.

Compare low cash advance credit cards

Rates last updated April 30th, 2017
Cash advance rate (p.a.) Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Bendigo Bank Basic Black Credit Card
A basic credit card that features low interest rates, low annual fee and up to 44 interest-free days on purchases.
12.24% p.a. 12.24% p.a. $45 p.a. Go to site More info

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.

Compare reward program credit cards

Rates last updated April 29th, 2017.

Citi Rewards Platinum Credit Card

Points earn rate changed from 1.25 to 1 Citi Reward Point per $1 spent on eligible spend.

April 3rd, 2017

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

1.5% BT fee has been added to the existing balance transfer offer which is valid until 15 June 2017.

April 3rd, 2017

Virgin Australia Velocity Flyer Card - 0% Interest Offer

0% purchase and balance transfer offers have been extended until 15 June 2017.

April 3rd, 2017

View latest updates

Jonathan Choi Jonathan
Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Annual fee
NAB Rewards Platinum Card
NAB Rewards Platinum Card
80,000 bonus points 1 $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
ANZ Frequent Flyer Black
ANZ Frequent Flyer Black
75,000 bonus points 1 $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info
American Express Explorer Credit Card
American Express Explorer Credit Card
100,000 bonus points 2 $395 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
HSBC Platinum Qantas Credit Card
60,000 bonus points 1 0 $199 p.a. Go to site More info
HSBC Platinum Credit Card
HSBC Platinum Credit Card
1 0 $149 p.a. Go to site More info
Citi Rewards Platinum Credit Card
Citi Rewards Platinum Credit Card
1 0 $49 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
American Express Velocity Platinum Card
American Express Velocity Platinum Card
50,000 bonus points 0 1 $349 p.a. Go to site More info
American Express Essential®  Credit Card
American Express Essential® Credit Card
1 $0 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0.66 0 $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ANZ Rewards Platinum
ANZ Rewards Platinum
1.5 $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
NAB Rewards Classic Card
NAB Rewards Classic Card
40,000 bonus points 0.75 $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
ANZ Rewards Black Credit Card
ANZ Rewards Black Credit Card
2 $0 p.a. annual fee for the first year ($375 p.a. thereafter) Go to site More info
American Express Platinum Edge Credit Card
American Express Platinum Edge Credit Card
5,000 bonus points 0 1 $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
American Express Velocity Escape Card
American Express Velocity Escape Card
7,500 bonus points 1 $0 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
30,000 bonus points 1 0 $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0.66 0 $129 p.a. Go to site More info
ANZ Rewards Travel Adventures card
ANZ Rewards Travel Adventures card
1.5 $225 p.a. Go to site More info
Qantas American Express Discovery Card
Qantas American Express Discovery Card
1 $0 p.a. Go to site More info
Qantas American Express Premium Card
Qantas American Express Premium Card
60,000 bonus points 1.25 $249 p.a. Go to site More info
David Jones American Express Platinum Card
David Jones American Express Platinum Card
40,000 bonus points 1 $295 p.a. Go to site More info

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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2 Responses to Credit Card Fees

  1. Default Gravatar
    Leanne | April 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.

    • Staff
      Jacob | April 15, 2013

      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 April 30th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
An introductory rate of 0% p.a. for 24 months on balance transfers combined with premium benefits such as travel insurance covers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 p.a. Go to site More info

* 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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