ANZ, Amex, Kogan: The 5 best credit cards on the market right now
Here are the 5 highest-rated credit cards on the market right now, whether you want a balance transfer deal, points or no annual fee.
Everyone is looking for something a little different in their ideal credit card. But most people want something like:
- A card that earns them reward or frequent flyer points on their spending.
- A no annual fee credit card for simple, fee-free spending.
- A card that gives you a long 0% balance transfer on your unpaid card debt.
The Finder Score ranks cards based on how good they are in each category, taking different features into account and balancing fees against card benefits.
And right now, these are the 5 best credit cards in Australia.
1. Balance transfers: ANZ Low Rate
The ANZ Low Rate Card has a balance transfer Finder Score of 9.9.
It's the top scoring card for someone looking to transfer unpaid card balance(s) to a new card with no interest.
This card has far and away the longest 0% balance transfer offer on the market at 26 months. Only a couple of cards come close at 24 months, and most balance transfer offers now are either for 12 months or charge interest on your balance.
2. Qantas Points: Qantas American Express Ultimate
The Qantas American Express Ultimate Card has a Finder Score of 9.9.
The best Qantas Points offer right now gives new customers up to 90,000 bonus Qantas Points if you spend $3,000 in the first 3 months. There's a catch though. You only get 70,000 points once you meet the spend criteria.
You have to hold the card for a year, keep using it and pay the annual fee a second time to get the remainder.
And the annual fee is a solid $450. But here's the good news! You also get a $450 annual travel credit. Use that and the card pays for itself.
Want more options?
Compare every credit card on the market.
3. Velocity Points: American Express Velocity Platinum
The top Velocity card right now is the American Express Velocity Platinum Card, which has a frequent flyer Finder Score of 9.41.
This card offers new customers 60,000 bonus Velocity Points when you spend $3,000 in the first 3 months. That's more than enough points to fly from Melbourne to Gold Coast return economy.
And you can get these bonus points once you meet the spend criteria, so you don't have to wait a whole year.
The card also gives up to 100 Velocity Status Credits, if you're chasing a higher status tier (or fighting to stay in your current one).
4. Rewards Points: Bankwest More World Mastercard
The Bankwest More World Mastercard has a Finder Score of 9.9.
This card offers up to 180,000 bonus Points (that's what Bankwest calls its points program) if you hold the card for 15 months and spend $10,000 in the first 90 days.
Those points are worth around $400 in cashbacks, which would outweigh the $270 annual fee (except you have to pay it twice to get those points).
But the card also offers complimentary travel insurance and 10 annual airport lounge passes, which is more lounge access than many credit cards offer.
5. No annual fee: Kogan Money Credit Card
The Kogan Money Credit Card has a Finder Score of 8.45.
This card not only charges no annual fee each year (not just for the first year) but it also gives you Kogan Points on your spending and $400 Kogan credit.
So if you want a flexible fee-free card and you like shopping online, that's a solid combo.
Just keep in mind that we've scored these cards based on lots of data, and while they're all great offers, the best credit card will always be the one that suits your specific needs.
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