How frequently can you change credit cards? | Finder

Is it ok to change credit cards frequently?

You shouldn't apply for multiple credit cards at once but there are benefits to switching.

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When you apply for a credit card, it's noted on your credit report as an enquiry. If you apply for several credit cards in a short time period, this can be a red flag for lenders and can hurt your credit score. However, switching credit cards each year can be a good way to take advantage of competitive deals. This is especially true with credit cards that offer bonus frequent flyer points, 0% balance transfers and promotional purchase rates. So, how often can you change for credit cards?

You can use this guide to learn how multiple credit card applications can impact your credit score and how often you should be applying for a new credit card.

How often can you change credit cards?

There's no hard and fast rule to how many credit cards you can apply for in a set period of time. However, you should only apply for one credit card at a time. All credit applications (whether approved or not) are recorded on your credit report. When lenders are reviewing your credit report, multiple applications for credit in a short time period may be considered a red flag.

Instead, you may only want to apply for a new credit card once a year or every couple of months. How often you should apply for a credit card also depends on your current financial situation and credit score. If you have multiple credit cards and debt, you may want to consider consolidating them under one new card with a balance transfer.

Before you apply for a credit card, you should also check your credit score. Australian lenders will only approve applicants who meet the eligibility criteria and have a good or excellent credit score. You can check your credit score for free online through Finder.

As long as you keep your accounts in good standing, make timely repayments and check your credit score regularly, applying for a new credit card every year isn't necessarily a bad thing. If you're no longer using your old card, you may want to consider closing the account once you've activated your new card.

Check out our guide to applying for a credit card for some tips and the eligibility criteria to check.

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Benefits of switching credit cards

  • Bonus points. Some rewards cards and frequent flyer cards offer up to 120,000 bonus points on sign-up when you meet the spend requirements. As long as the requirements align with your budget, a bonus points offer can be an easy way to boost your points balance.
  • 0% balance transfer. If you’re struggling to repay an existing debt that is attracting interest, you may want to transfer your debt to a card that charges 0% interest rate on balance transfers. These cards usually offer interest-free periods for introductory periods between 6 to 26 months. At the end of the promotional period, any remaining debt from the balance transfer will attract the revert rate.
  • 0% purchase rate. If you're using your card to make purchases, you can save by switching to a card that charges a low interest rate or 0% interest for promotional period. If the card charges 0% for an introductory period, the standard purchase interest rate will apply once the promotion ends.
  • Competitive fees. If you're paying a high annual fee, maybe you'll want to switch to a card that charges $0 annual fee for life or for the first year.

Rather than applying for multiple credit cards at once, you should take the time to compare your options, understand the features and ensure you meet the eligibility requirements before you apply.

If you’ve applied for a credit card and have been rejected, you should wait at least a few months before applying for another. During this time, you should repay existing debts, improve your credit score and research credit card that you're eligible for.

See our guide for more information on why your credit card application might’ve been declined and what you can do to improve your likelihood of approval.

Compare current credit card offers

Data updated regularly
Name Product Purchase rate Interest-free period Annual fee Balance transfer rate
HSBC Platinum Credit Card
19.99% p.a.
Up to 55 days on purchases
$29 annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 36 months
0% Balance Transfer Offer & $29 First-Year Annual Fee
Save money with a 0% balance transfer rate for 36 months (with no BT fee), a first-year annual fee discount and free travel insurance.
Kogan Money Black Card - Exclusive Offer
20.99% p.a.
Up to 55 days on purchases
$0
0% p.a. for 24 months
0% Balance Transfer Offer & $50 Kogan.com Credit
Finder Exclusive
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $50 Kogan.com Credit and uncapped rewards points.
Coles No Annual Fee Mastercard - Exclusive Offer
0% p.a. for 12 months, reverts to 19.99% p.a.
Up to 55 days on purchases
$0
0% p.a. for 12 months
0% Purchase & Balance Transfer Offers
Finder Exclusive
Earn 10,000 bonus Flybuys points and save on interest charges with 0% p.a. on balance transfers and purchases for 12 months.
Citi Rewards Card - Points & Gift Card Offer
21.49% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 15 months
90,000 Citi Rewards Points and $100 Coles eGift Card
Receive 90,000 bonus Citi reward Points (worth $400 in gift cards) and a $100 Coles eGift Card when you spend $3,000 in the first 90 days.
Qantas Premier Platinum
19.99% p.a.
Up to 55 days on purchases
$199 annual fee for the first year ($299 p.a. thereafter)
0% p.a. for 18 months with 1% balance transfer fee
100,000 Bonus Points & Discounted First-Year Annual Fee
Get 100,000 bonus Qantas Points when you spend at least $4,000 within the first 3 months. Plus a discounted $199 first-year annual fee.
Virgin Money No Annual Fee Credit Card
0% p.a. for 12 months, reverts to 18.99% p.a.
Up to 55 days on purchases
$0
0% p.a. for 12 months
0% Balance Transfer and Purchase Rate Offers
Save with an ongoing $0 annual fee and 0% p.a. on balance transfers and purchases for 12 months.
Citi Rewards Card - Balance Transfer Offer
21.49% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 30 months
30-Month Balance Transfer & Annual Fee Discount
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee.
NAB Qantas Rewards Signature Card
19.99% p.a.
Up to 44 days on purchases
$295 annual fee for the first year ($395 p.a. thereafter)
0% p.a. for 6 months with 2% balance transfer fee
Up to 110,000 bonus Qantas Points & First-Year Annual Fee Discount
Up to 110,000 bonus Qantas Points (90,000 when you spend $3,000 in the first 60 days and 20k after 12 months)
ANZ Low Rate
12.49% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($58 p.a. thereafter)
0% p.a. for 20 months
0% Balance Transfer Offer & $0 First-Year Annual Fee
Save with 0% p.a. on balance transfers for 20 months (with no BT fee) and $0 first-year annual fee. Plus a 12.49% p.a. purchase interest rate.
Westpac Low Rate Card
13.74% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($59 p.a. thereafter)
0% p.a. for 28 months with 1% balance transfer fee
$0 First-Year Annual Fee & 0% Balance Transfer Offer
Save with a $0 annual fee for the first year, plus, a 0% interest rate on balance transfers for 28 months.
ANZ Frequent Flyer Black
20.24% p.a.
Up to 55 days on purchases
$425
20.24% p.a.
120,000 Bonus Points & $200 back
Collect 120,000 bonus Qantas Points and $200 back when you spend $3,000 in the first 3 months. Plus, complimentary lounge passes.
ANZ Platinum Credit Card
0% p.a. for 17 months, reverts to 20.24% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($87 p.a. thereafter)
20.24% p.a.
0% Purchase Offer & $0 First Year Annual Fee
Receive a 0% purchase rate offer for 17 months and a $0 first-year annual fee. Plus, complimentary overseas travel and medical insurance.
Bankwest Breeze Classic Mastercard
10.99% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($49 p.a. thereafter)
0% p.a. for 26 months with 2% balance transfer fee
0% Balance Transfer Offer & $0 First-Year Annual Fee
Save with 0% p.a. on balance transfers for 26 months (with a 2% BT fee) and $0 first-year annual fee. Plus, a 10.99% p.a. purchase interest rate.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
Up to 55 days on purchases
$64 annual fee for the first year ($129 p.a. thereafter)
0% p.a. for 26 months
$129 Gift Voucher & Balance Transfer Offer
Get 0% p.a. for 26 months on balance transfers and a reduced first-year annual fee. Plus, $129 Virgin Australia Gift Voucher per year.
Citi Rewards Card - Velocity Points Offer
21.49% p.a.
Up to 55 days on purchases
$99 annual fee for the first year ($199 p.a. thereafter)
0% p.a. for 15 months
100,000 bonus Velocity Points
Enjoy 100,000 bonus Velocity Points when you spend $3,000 in the first 90 days. Plus, complimentary travel and purchase insurance.
Bendigo Bank Low Rate Credit Card
11.99% p.a.
Up to 55 days on purchases
$45
0% p.a. for 24 months with 2% balance transfer fee
Long-Term 0% Balance Transfer Offer
Save with 0% p.a. on balance transfers for 24 months (with a 2% BT fee). Plus a 11.99% p.a. purchase interest rate.
Bankwest Zero Platinum Mastercard
17.99% p.a.
Up to 55 days on purchases
$0
2.99% p.a. for 9 months
No Annual Fee & 0% Foreign Transaction Fees
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
Latitude Gem Visa
24.99% p.a.
Up to 55 days on purchases
$99
0% Purchase Rate Offer
Enjoy 0% p.a. interest on purchases over $250 for 6 months, optional shopper's protection insurance and the convenience of Samsung Pay.
Citi Simplicity Card
0% p.a. for 6 months, reverts to 21.49% p.a.
Up to 55 days on purchases
$0
0% p.a. for 6 months
No Annual Fee & 0% Balance Transfer Offer
Get 0% p.a. interest for up to 6 months on purchases and balance transfers. Plus, a $0 annual fee for life.
Coles Rewards Mastercard
19.99% p.a.
Up to 55 days on purchases
$0 annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 18 months with 1.5% balance transfer fee
20,000 Bonus Flybuys Points & $0 First-Year Annual Fee
Enjoy 20,000 bonus Flybuys points, a $0 first-year annual fee and 0% p.a. on balance transfers for 18 months (1.5% fee applies).
humm90 Mastercard
23.99% p.a.
Up to 110 days on purchases
$99
Up to 110 days interest-free days on purchases & 0% Foreign Transaction Fees
Enjoy up to 110 days interest-free on purchases, 0% foreign transaction fees and flexible instalment plan options.
Citi Rewards Card - Bonus Points Offer
21.49% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($149 p.a. thereafter)
0% p.a. for 15 months
100,000 Citi Rewards Points and Discounted First-Year Annual Fee
Get 100,000 bonus Citi reward Points (worth $460 in gift cards) when you spend $3,000 in the first 90 days. Plus, a $49 first-year annual fee.
St.George Vertigo Classic
13.99% p.a.
Up to 55 days on purchases
$55
0% p.a. for 28 months
0% Balance Transfer Offer
Enjoy a 0% interest rate on balance transfers for 28 months, with no balance transfer fee.
American Express Explorer Credit Card
20.74% p.a.
Up to 55 days on purchases
$395
90,000 Bonus Membership Rewards Points and $300 statement credit

Get 90,000 bonus Membership Rewards Points and $300 back when you spend $3,000 on your new card in the first 3 months.
Citi Clear Card
14.99% p.a.
Up to 55 days on purchases
$49 annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 15 months
$250 Cashback & 0% Balance Transfer Offers
Get $250 cashback when you spend $3,000 within the first 90 days. Plus, a 0% balance transfer offer and first-year annual fee discount.
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*The credit card offers 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.

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