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Can I get a credit card from a different bank?

You can, and there are often benefits to choosing a credit card from another bank. Here's why.

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By

Amy Bradney-George

Updated

Fact checked

When you get a credit card, most of the potential value and costs come from its features, including the interest rates, annual fee and any rewards or other perks. So, looking at credit cards offered by different banks or brands gives you a way to find a card that has the right mix of features for you.

Here's how to compare cards between the bank you already have accounts with, and others in Australia.

Getting a credit card with your current bank vs with a different bank

There can be benefits to getting a credit card from another bank or from your current bank. Below are a couple of factors to think about with either choice.

Getting a credit card with another bank

  • Promotional offers. If you're looking for a new credit card, applying for a credit card with an introductory offer could help sweeten the deal. For example, some credit cards offer 0% on purchases for a set period, interest-free on balance transfers and bonus points with a rewards or frequent flyer program. These offers are usually only available for new applicants and may not be available if you already bank with the provider. If you do want to take advantage of a promotional offer like this, comparing credit cards with a different bank could provide you with more options.
  • Getting a better deal. While sticking with the same bank might offer convenience, you could be missing out on more competitive deals if you fail to compare your options beyond your regular provider. If you're unsure where to start, comparing on Finder is a simple way to compare your options side-by-side. Pay attention to the annual fees, interest rates and features such as rewards, complimentary insurances and more to see how the cards with your usual provider compare to the other options on the market. A good place to start is our best credit cards page.

Getting a credit card with your existing bank

  • The familiarity of banking with the one institution. If you have banked with the same institution for a while, there are some benefits to staying loyal. If you have a savings account with a bank, for example, you’ll be familiar with the services that the bank offers. You’ll know what to expect from the customer service team and hopefully there will be some branches nearby. Additionally, having all of your online banking on one app or platform offers convenience when managing your money.
  • Simple application process. When you apply for a credit card, the lender assesses your approval based on a number of factors including your income, repayment history and credit history. If you’re applying for a credit card with the same bank, they can access your debit card history and also assess your approval based on your ability to save and your spending behaviour. If you’re good at saving, spend responsibly and don’t overdraw your account, this could work in your favour. The fact that your bank already has your details could also mean that you won’t need to submit some basic details when you’re filling out your application.

Can you have 2 credit cards from different banks?

If you meet the eligibility requirements, you can have 2 credit cards from different banks or issuers. It's also possible to get 2 credit cards from the same bank.

For example, if you run a business, you might want a personal credit card for everyday spending and a business credit card to keep track of work expenses. These cards could be from the same bank, or 2 different ones, it's up to you which cards you apply for.

But keep in mind that it's usually more cost-effective to have just 1 card, unless you have a specific reason for using 2, because you'll be dealing with multiple fees and interest rates. Having more than 1 credit card can also impact your credit score.

How to pay a credit card from another bank

Banks and other credit card providers give you a choice of ways to make payments – and it's usually similar to how you'd pay your phone or energy bill.

So, when you get the statement, you'll see all the different payment options available. Some of the most common ones include:

  • Direct debit. With direct debit (or AutoPay), the payment will be automatically taken from your transaction account each month. Similar to subscriptions for Netflix or the gym, you provide your transaction account details and select payment options, such as the frequency and amount (usually the minimum due, a set amount above that or the full amount).
  • BPAY. To make a BPAY payment from your bank account to your credit card, you'll need the credit card provider's biller code and your reference number (usually the 16-digit number on your actual credit card). You'll find these details on each credit card statement, and can then make a payment from almost any Australian transaction account.
  • Mail. You can post a cheque (or sometimes a money order) to the credit card provider using the address that's given on your statement. Most statements include a payment slip for you to fill out if you use this option. Keep in mind that you will need to post it with enough time for it to arrive by the due date on your statement.
  • Australia Post. Some credit card providers, including Citi and NAB, also let you pay your bills at Australia Post outlets that offer Post Billpay (or Bank@Post). You need to present your credit card statement and/or the credit card, plus a form of payment such as your debit card or cash. Some credit card providers charge a fee of around $2-$3 per payment for this option. You can check your statement, fee schedule or ask your provider to find out if there is a fee for paying at Australia Post.

Most credit cards give you at least 3 ways to pay your statement, regardless of whether you have other accounts with the same bank or provider. So it's just a matter of choosing the simplest way for you, whether that's BPAY, direct debit or going to Australia Post.

Ready to find a new credit card? Compare the latest offers and search Finder's database by bank or brand.

Compare credit cards with an introductory offer

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1 - 12 of 19
Updated regularly
Name Purchase rate p.a. Annual fee Balance transfer rate p.a. Amount Saved
Kogan Money Card – Exclusive Offer
ExclusiveKogan Rewards Program
Purchase rate p.a.
20.99%
Annual fee
$0
Balance transfer rate p.a.
0% for 18 months with 1% balance transfer fee, then 21.74%
Amount Saved
$1,335.99 over 18 months
Go to siteMore Info
 Get 0% p.a. on balance transfers for 18 months with a 1% balance transfer fee. Plus an ongoing $0 annual fee.
Bankwest Breeze Classic Mastercard
Purchase rate p.a.
0% for 12 months, then 12.99%
Annual fee
$49
Balance transfer rate p.a.
0% for 12 months with 2% balance transfer fee, then 12.99%
Amount Saved
$878.32 over 12 months
Go to siteMore Info
 Save with 0% p.a. on purchases and balance transfers for 12 months (with a 2% BT fee).
Coles No Annual Fee Mastercard
Flybuys
Purchase rate p.a.
0% for 6 months, then 19.99%
Annual fee
$0
Balance transfer rate p.a.
19.99%
Go to siteMore Info
 Get 20,000 bonus Flybuys points (worth $100 Flybuys Dollars) and 0% interest on purchases for the first 6 months.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Velocity Frequent Flyer
Purchase rate p.a.
20.74%
Annual fee
$0 first year ($129 after)
Balance transfer rate p.a.
0% for 24 months, then 20.99%
Amount Saved
$1,453.89 over 24 months
Go to siteMore Info
 Get 0% p.a. on balance transfers for 24 months (with no BT fee) and a $0 annual fee in the first year.
Westpac Low Rate Card
Purchase rate p.a.
13.74%
Annual fee
$59
Balance transfer rate p.a.
0% for 28 months, then 21.49%
Amount Saved
$1,768.59 over 28 months
Go to siteMore Info
 Save with a 0% p.a. interest rate on balance transfers for 28 months. Plus, a low 13.74% p.a. purchase interest rate.
Bankwest Breeze Platinum Mastercard
Purchase rate p.a.
0% for 12 months, then 12.99%
Annual fee
$69
Balance transfer rate p.a.
0% for 12 months with 2% balance transfer fee, then 12.99%
Amount Saved
$858.32 over 12 months
Go to siteMore Info
 Get 0% p.a. interest on purchases and balance transfers for 12 months (with a 2% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.
Latitude 28° Global Platinum Mastercard
Purchase rate p.a.
26.99%
Annual fee
$0
Balance transfer rate p.a.
Go to siteMore Info
 Save with 0% international transaction fees on purchases. Plus, complimentary Flight Delay Pass and global data roaming.
American Express Velocity Business Card
Velocity Frequent Flyer
Purchase rate p.a.
0%
Annual fee
$249
Balance transfer rate p.a.
Go to siteMore Info
ABN holders w/ $75,000 revenue. Get 100,000 bonus Velocity Points when you spend $3,000 in the first 2 months.
Qantas Premier Everyday
Qantas Frequent Flyer
Purchase rate p.a.
19.99%
Annual fee
$49
Balance transfer rate p.a.
0% for 12 months, then 21.99%
Amount Saved
$878.32 over 12 months
Go to siteMore Info
 Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.
American Express Qantas Business Rewards Card
Qantas Business Rewards
Purchase rate p.a.
0%
Annual fee
$450
Balance transfer rate p.a.
Go to siteMore Info
ABN holders w/ $75k revenue. Earn 100,000 bonus Qantas Points when you spend $3,000 in the first 2 months.
Qantas American Express Ultimate Card
Qantas Frequent Flyer
Purchase rate p.a.
23.99%
Annual fee
$450
Balance transfer rate p.a.
Go to siteMore Info
 Get 60,000 bonus Qantas Points when you spend $3,000 in the first 3 months. Plus, a yearly $450 Travel Credit.
Qantas Premier Platinum
Qantas Frequent Flyer
Purchase rate p.a.
19.99%
Annual fee
$349 first year ($399 after)
Balance transfer rate p.a.
0% for 12 months, then 21.99%
Amount Saved
$578.32 over 12 months
Go to siteMore Info
 Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers.
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6 Responses

    Default Gravatar
    bbApril 18, 2019

    what is the minimum transfer amount, i am getting a credit card from another bank. thanks.

    Reply
      Default Gravatar
      NikkiApril 19, 2019

      Hi BB,

      Thanks for getting in touch with Finder! If you are referring to a balance transfer credit card application, the minimum transfer amount will depend on the approved amount given to you by the bank. As a friendly reminder, review the eligibility criteria of the card before applying and read up on the terms and conditions of the card. Feel free to reach out to the bank if you need any clarifications.Hope this helps!

      Best,
      Nikki

      Reply
    Default Gravatar
    MasoomMay 5, 2018

    I have a savings bank account but I m a student and have no regular savings. Now, can I apply for credit card?

    Reply
      AvatarFinder
      JeniMay 6, 2018Finder

      Hi Masoom,

      Thank you for getting in touch with Finder.

      Regarding your enquiry, you must have enough income to service the minimum credit limit available on the card. Income can include your wages from full or part-time work, as well as Centrelink payments and even student scholarships in some cases. If you do not have a source of income, you can consider a supplementary card on a parent or guardian’s credit account or a Visa debit or Mastercard debit card.

      You may want to see our list of credit card issuers that offer student credit card, kindly refer to our comparison table to find the card that suits you. When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

      Reply
    Default Gravatar
    RedMarch 22, 2018

    How can i get a credit card even if I don’t have savings account?

    Reply
      AvatarFinder
      JhezelynMarch 22, 2018Finder

      Hi Red,

      Thank you for your comment.

      As long as you meet the eligibility criteria, you can apply for a credit card even if you do not have a savings account. You have to carefully check the requirements, terms, and conditions, and eligibility before you submit an application. Refer to our guide on how to apply for your first credit card. On the page is a comparison table you can use to see which card suits you.

      When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Regards,
      Jhezelyn

      Reply
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