choosing cheapest credit card

Compare the cheapest credit cards*

Whether you’re looking to pay down debt, shop overseas or cut down on interest costs, compare some of the cheapest credit card offers* on the Australian market.

Value for money comes in many shapes and forms. The credit card with the cheapest interest rate* may not be the cheapest to use abroad, or the cheapest to use for a balance transfer for that matter. It all depends on what you’re looking for. Here, we compare some of the cheapest credit cards* in Australia based on specific features so that you can decide if one will suit your needs.

Cheap* credit cards to compare

Rates last updated July 23rd, 2017
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate (p.a.) Product Description
St.George Vertigo Visa
13.24% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% p.a. for 14 months
Receive exclusive ticket and lifestyle offers through Visa Entertainment and the security of Falcon Fraud protection.
NAB Low Rate Credit Card
13.99% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 16 months with 2% balance transfer fee
Gain access to Visa Global Customer Assistance Services and add an additional cardholder at no cost.
St.George Vertigo Platinum
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 20 months
Features platinum insurance covers including Extended Warranty, Price Guarantee and Purchase Cover Insurance.
Bendigo Bank Basic Black Credit Card
12.24% p.a.
Up to 44 days on purchases
$45 p.a.
A basic low fee, low ongoing rate card that calculates interest from the monthly statement date.
HSBC Low Rate Credit Card
13.25% p.a.
Up to 55 days on purchases
$55 p.a.
0% p.a. for 15 months with 2% balance transfer fee
Enjoy exclusive offers with the home&Away Privilege Program, and the ability to pay with Apple Pay.
Westpac Low Rate Card - Online Only Balance Transfer Offer
13.49% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 24 months with 2% balance transfer fee
Offers a long term balance transfer rate of 0% p.a. for 24 months and up to $25 off your first Uber ride.
Bank of Melbourne Vertigo Platinum
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 20 months
Take advantage of overseas travel insurance, purchase cover insurance, price guarantee cover and extended warranties.
ANZ Low Rate Platinum
11.49% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 16 months with 2% balance transfer fee
Enjoy platinum benefits with exclusive discounts, complimentary travel insurance and personal concierge.
NAB Low Rate Platinum Card
13.99% p.a.
Up to 55 days on purchases
$100 p.a.
0% p.a. for 16 months with 2% balance transfer fee
Includes four complimentary travel insurances, concierge service and complimentary purchase insurance covers.
ANZ Low Rate
12.49% p.a.
Up to 55 days on purchases
$58 p.a.
0% p.a. for 16 months with 2% balance transfer fee
Get peace of mind with ANZ Falcon security protection and Mastercard's Zero Liability Guarantee.
Coles Low Rate Mastercard
12.99% p.a.
Up to 62 days on purchases
$49 p.a.
0% p.a. for 6 months
Take advantage of 0% p.a. for 6 months on balance transfers.
BankSA Vertigo Visa
13.24% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% p.a. for 18 months
Add 1 additional cardholder at no extra cost and enjoy the protection of secure shopping and fraud monitoring.
American Express Essential®  Credit Card
14.99% p.a.
Up to 55 days on purchases
$0 p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn 1.00 Membership Rewards point per $1 spent and receive a $50 credit when you meet the eligibility criteria.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 12 months (reverts to 20.74% p.a.)
Up to 44 days on purchases
$129 p.a.
0% p.a. for 6 months
Save with 0% p.a. on purchases for 12 months. Plus, up to 0.66 Velocity Points per $1 spent.
Virgin Money Low Rate Credit Card
11.99% p.a.
Up to 44 days on purchases
$99 p.a.
0% p.a. for 12 months
Choose to get the protection of CreditShield Edge and enjoy the convenience of Visa payWave.
Westpac Low Rate Card
13.49% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 18 months with 2% balance transfer fee
Get an additional cardholder at no extra cost and take advantage of Visa PayWave and Samsung Pay.

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How to compare the cheapest credit cards* in Australia

With so many different credit cards on the market, finding the cheapest option comes down to individual circumstances and needs. For example, can you pay back what you’ve spent by the end of the credit card statement period, or are you looking for a credit card to use to make a big-ticket purchase and pay back over a couple of months? What about cards that have no fees on foreign currency transactions? How you plan on using the product will determine what the cheapest credit card is for you.

Low- or no-interest credit cards

These credit cards feature a low standard variable rate of interest or a low promotional purchase rate of interest. If the credit card has a promotional offer, at the end of the introductory period, the ongoing purchase rate of interest applies to any purchases you haven’t paid back, as well as any future purchases.

The purchase rate of interest comes into play when you carry a debt from one month to the next. Remember that interest compounds. A credit card with a low rate will cost you less if you carry a balance from month to month, when compared to cards with higher rates.

Note that some transactions aren’t eligible for a low purchase rate (whether standard or promotional). In particular, cash advances accrue interest at the cash advance rate of interest and balance transfers accrue interest at the revert rate following the end of the balance transfer promotional period.

  • Good if: You struggle to repay your balance in full each month.
  • Bad if: You’re an infrequent spender or always pay your balance in full by the end of the statement period.

Credit cards with interest-free days

Many credit cards offer up to a certain number of interest-free days for each statement period, for example “up to 55 days”. This feature lets you pay back what you’ve spent by the statement due date without incurring additional interest charges. If you have a card that offers an interest-free period and you always pay your balance in full by the due date on your statement, the card’s annual fee could be the only additional cost you have for that account.

There are some requirements if you want to take advantage of interest-free days. If you carry a balance from month to month, for example if you have an active balance transfer promotion, you’re ineligible for interest-free days. Cash advances are also ineligible for interest-free days, so it may be better to find a credit card with a promotion on cash advances if you plan on using your credit card at the ATM.

  • Good if: You always repay your balance each month and make regular purchases on your credit card.
  • Bad if: You often miss repayments or are unable to pay your balance in full.

Compare credit cards with 55 interest-free days on purchases

Rates last updated July 23rd, 2017
$
Name Product Product Description Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period Interest Saved
American Express Essential®  Credit Card
Get Smartphone Screen Insurance of up to $500 when you pay for your phone or contract with your Essential Credit Card.
14.99% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Up to 55 days on purchases
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points when you meet the spend requirement and earn up to 1 Qantas Point per $1 spent.
19.99% p.a.
$199 p.a.
Up to 55 days on purchases
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
$99 p.a.
Up to 55 days on purchases
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.
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
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.
19.99% p.a.
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
Up to 55 days on purchases
Citi Clear Platinum
Save with 14.99% p.a. on retail purchases. Also enjoy free wine when you dine with the Citibank Dining Program.
14.99% p.a.
$99 p.a.
Up to 55 days on purchases
ANZ Low Rate
Receive up to 55 days interest-free on purchases, up to 3 additional cardholders at no cost and Mastercard PayPass.
12.49% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$58 p.a.
Up to 55 days on purchases
ANZ Frequent Flyer Black
Receive 75,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases in the first 3 months.
19.99% p.a.
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Up to 55 days on purchases
Commonwealth Bank Business Gold Awards Credit Card
Earn up to 2 Awards points per $1 spent, receive an unsecured credit limit of up to $50,000 and up to 55 days interest-free on purchases.
20.74% p.a.
5.99% p.a. for 5 months
$150 p.a.
Up to 55 days on purchases
American Express Platinum Edge Credit Card
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$195 p.a.
Up to 55 days on purchases
ANZ Rewards Travel Adventures card
Receive 40,000 bonus Velocity Points when you spend $500 on eligible purchases in the first three months.
20.24% p.a.
$225 p.a.
Up to 55 days on purchases
American Express Explorer® Credit Card
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$395 p.a.
Up to 55 days on purchases
ANZ Low Rate Platinum
Enjoy platinum benefits with exclusive discounts, complimentary travel and purchase insurances and a 24/7 personal concierge.
11.49% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$99 p.a.
Up to 55 days on purchases
Bank of Melbourne Vertigo Visa Credit Card
Receive up to 55 days interest-free on purchases and the protection of Verified by Visa online purchases.
13.24% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Up to 55 days on purchases
Bank of Melbourne Amplify Signature
Earn up to 3 Amplify Rewards Points per $1 spent and receive an additional card at no extra cost.
19.49% p.a.
$279 p.a.
Up to 55 days on purchases
BankSA Vertigo Visa
Get up to 55 days interest-free on purchases and be protected by 24/7 Falcon® Fraud service.
13.24% p.a.
0% p.a. for 18 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Up to 55 days on purchases
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
13.24% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Up to 55 days on purchases
St.George Amplify Platinum
Earn up to 2 Amplify Rewards Points per $1 spent and receive complimentary overseas travel insurance.
19.49% p.a.
$99 p.a.
Up to 55 days on purchases
St.George Vertigo Platinum
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
12.74% p.a.
0% p.a. for 20 months
$99 p.a.
Up to 55 days on purchases
Bank of Melbourne Amplify Platinum
Earn up to 2 Amplify Rewards Points per $1 spent and receive complimentary travel insurance.
19.49% p.a.
$99 p.a.
Up to 55 days on purchases
St.George Amplify Signature
Earn up to 3 Amplify Rewards Points per $1 spent and receive two complimentary airport lounge passes per year.
19.49% p.a.
$279 p.a.
Up to 55 days on purchases
Citi Rewards Platinum Credit Card
Earn Reward Points per $1 spent as part of the Citi Rewards Program, plus receive complimentary international travel insurance.
20.99% p.a.
0% p.a. for 24 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Up to 55 days on purchases
Citi Simplicity Card
Earn 10% cashback on eligible purchases (capped at $50 per month) for the first 4 months from card approval.
19.99% p.a.
0% p.a. for 6 months
$0 p.a.
Up to 55 days on purchases
Citi Rewards Classic Credit Card
Receive 1 point per $1 spent on all eligible Domestic Spend (up to $5,000 per period) and membership to the Citibank Dining Program.
20.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Up to 55 days on purchases
ANZ Platinum Credit Card
Enjoy platinum card benefits with a 24/7 personal concierge and complimentary overseas travel and medical insurance.
19.74% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Up to 55 days on purchases
Commonwealth Bank Business Interest-Free Days Credit Card
Extend your cashflow with up to 55 interest-free days on purchases. Also enjoy easy integration into your online accounting software.
17.57% p.a.
5.99% p.a. for 5 months
$60 p.a.
Up to 55 days on purchases
NAB Low Rate Credit Card
Receive up to 55 days interest-free on purchases, special offers from Visa Entertainment and Tap and Pay capabilities.
13.99% p.a.
0% p.a. for 16 months with 2% balance transfer fee
$59 p.a.
Up to 55 days on purchases
Commonwealth Bank Business Awards Credit Card
Earn up to 1.5 Awards points per $1 spent, easily integrate your online accounting software, plus complimentary Transit Accident Insurance.
20.74% p.a.
5.99% p.a. for 5 months
$100 p.a.
Up to 55 days on purchases
Commonwealth Bank Business Awards Platinum Credit Card
Earn up to 3 Awards points per $1 spent and receive complimentary travel and unauthorised transaction insurances.
20.74% p.a.
5.99% p.a. for 5 months
$300 p.a.
Up to 55 days on purchases
American Express Velocity Platinum Card
Receive a complimentary Virgin Australia return Economy domestic flight each anniversary year and complimentary travel insurance.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$375 p.a.
Up to 55 days on purchases
American Express Velocity Escape Card
Earn uncapped Velocity points on purchases and redeem for a range of rewards including flights, accommodation, car hire and gift cards.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Up to 55 days on purchases
Woolworths Everyday Platinum Credit Card
Receive a $100 eGift Card when you apply by 30 September 2017 and make an eligible purchase by 31 October 2017.
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Up to 55 days on purchases

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No annual fee credit cards

There are two different types of no annual fee credit cards. You can pay no annual fee for the life of the credit card or pay no annual fee in the first year.

No annual fee credit cards can charge higher rates of interest than a low-rate credit card and can be light on value-adding features such as complimentary insurance. No annual fee credit cards are usually the cheapest option for people who pay back their card balance by the statement due date. Many no annual fee credit cards also feature up to 55 days interest free. Pay back what you spend by the statement due date and a no annual fee credit card could cost you nothing to own and use.

  • Good if: You rarely use your credit card or want to cut down on extra costs.
  • Bad if: You want to take advantage of extra features such as rewards, complimentary insurance and concierge services.

Rates last updated July 23rd, 2017
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.) Product Description
St.George Vertigo Visa
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
13.24% p.a.
0% p.a. for 14 months
Get up to 55 interest-free days on purchases and an additional card for $0.
American Express Essential®  Credit Card
$0 p.a.
14.99% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Receive a $50 credit on eligible spend and get Smartphone screen insurance when you pay for your phone or contract.
Citi Simplicity Card
$0 p.a.
19.99% p.a.
0% p.a. for 6 months
Receive access to complimentary purchase insurance and free bottles of wine with the Citibank Dining Program.
Coles Platinum No Annual Fee Mastercard
$0 p.a.
19.99% p.a.
0% p.a. for 6 months
Receive 0.50 flybuys points for every $1 spent everywhere, plus up to 62 days interest-free on purchases with a higher credit limit.
ANZ Platinum Credit Card - Exclusive Offer
$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
Pay 0% p.a. for 3 months on purchases and receive platinum perks including complimentary travel and purchase insurance.
Qantas American Express Discovery Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn an uncapped 1 Qantas Frequent Flyer point per $1 spent, plus complimentary purchase insurance.
HSBC Platinum Credit Card
$99 p.a.
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
Earn 1.00 Reward Point per $1 spent and gain access to the Visa Platinum concierge service and Visa Entertainment.
BankSA Vertigo Visa
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
13.24% p.a.
0% p.a. for 18 months
Get up to 55 interest-free days on purchases and an additional card for $0.
ANZ Rewards Platinum
$0 p.a. annual fee for the first year ($95 p.a. thereafter)
18.79% p.a.
Receive 50,000 bonus Reward Points when you spend $2,500 within the first 3 months from card approval.
Westpac 55 Day Platinum Credit Card
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
19.84% p.a.
0% p.a. for 18 months with 2% balance transfer fee
Enjoy platinum card benefits including a 24/7 concierge service and complimentary insurance covers.
Woolworths Everyday Platinum Credit Card
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
19.99% p.a.
0% p.a. for 14 months
Receive a $100 eGift Card when you apply by 30 September 2017 and make an eligible purchase by 31 October 2017.

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0% balance transfer offers

A balance transfer is a money-saving feature you can use to pay down credit card debt. These cards offer a 0% interest rate (or reduced rate) when you move existing debt to the new account. At the end of the balance transfer promotional period, any balance transfer balance you haven’t paid back will accrue interest at the revert rate. This rate varies from card to card but is usually the purchase rate of interest or the cash advance rate.

Keep in mind that a balance transfer credit card shouldn’t be used for purchases, which will accrue interest at the purchase rate for that card. Interest-free days also don’t apply if you’re carrying a balance transfer balance from month to month.

  • Good if: You want to consolidate several debts under one card or want to pay off a debt without the burden of interest.
  • Bad if: You plan to use your card for purchases.

0% balance transfer credit cards comparison

Rates last updated July 23rd, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved Product Description
St.George Vertigo Visa
0% p.a. for 14 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Save with a low ongoing purchase rate and up to 55 interest-free days.
St.George Vertigo Platinum
0% p.a. for 20 months
12.74% p.a.
$99 p.a.
A low rate Platinum card with up to 55 interest-free days on purchases and access to Visa's Platinum Concierge service.
Citi Rewards Platinum Credit Card
0% p.a. for 24 months with 1.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn Citi Reward Points on everyday spend and receive complimentary travel insurance.
ANZ Platinum Credit Card - Exclusive Offer
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)
An exclusive credit card offer through finder.com.au that includes complimentary insurance covers.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$99 p.a.
Offers an annual fee refund with a yearly minimum spend of $6,000.
Virgin Australia Velocity Flyer Card - Exclusive Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Apply by 31 July 2017 to earn bonus Velocity Points for the first three months and a $129 Virgin Australia Gift Voucher each year.
Bank of Melbourne Vertigo Platinum
0% p.a. for 20 months
12.74% p.a.
$99 p.a.
Receive a range of complimentary insurances and access to a 24/7 Visa Platinum Concierge.
NAB Low Fee Card
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive up to 44 interest-free days on purchases and complimentary Purchase Protection Insurance.
HSBC Low Rate Credit Card
0% p.a. for 15 months with 2% balance transfer fee
13.25% p.a.
$55 p.a.
Enjoy the benefits of the home&Away Privilege Program and the ability to pay using Apple Pay.
NAB Premium Card - Exclusive Offer
0% p.a. for 24 months
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au, enjoy a no fee, long-term balance transfer offer with platinum privileges.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 18 months
20.74% p.a.
$99 p.a. annual fee for the first year ($169 p.a. thereafter)
Receive a discounted annual fee in the first year and earn 1.25 Suncorp Rewards Points per $1 spent.
Westpac Low Rate Card - Online Only Balance Transfer Offer
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Offers a low introductory rate on purchases and up to 55 interest-free days.
Citi Simplicity Card
0% p.a. for 6 months
19.99% p.a.
$0 p.a.
Pay no annual fee for life and receive free bottles of wine from Citibank Dining Program.
Virgin Money Low Rate Credit Card
0% p.a. for 12 months
11.99% p.a.
$99 p.a.
Enjoy a low ongoing purchase rate and the optional protection of CreditShield Edge.
American Express Explorer® Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 3 months of card membership.
American Express Essential®  Credit Card
0% p.a. for 12 months with 1% balance transfer fee
14.99% p.a.
$0 p.a.
Earn 1.00 Membership Rewards point per $1 spent on eligible purchases.
BankSA Vertigo Visa
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Save with a low ongoing purchase rate and enjoy up to 55 days interest-free.
American Express Velocity Platinum Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$375 p.a.
Receive a complimentary Virgin Australia return Economy domestic flight each anniversary year and complimentary travel insurance.
ANZ Low Rate Platinum
0% p.a. for 16 months with 2% balance transfer fee
11.49% p.a.
$99 p.a.
A platinum card with a competitive low rate and a range of complimentary insurances.
Woolworths Everyday Platinum Credit Card
0% p.a. for 14 months
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $100 eGift Card when you apply by 30 September 2017 and make an eligible purchase by 31 October 2017.

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Rewards credit cards with no annual fee

These rewards credit cards do not charge an annual fee. A no annual fee rewards credit card can give you added value from the first dollar spent. There’s no break even point – where the value of the rewards is greater than the product’s annual fee. But if you carry a balance and have to deal with interest charges, then these costs will have to be weighed up against the value of the rewards you earn.

Compared to low-rate cards, no annual fee rewards credit cards usually have high rates of interest. But if the card offers interest-free days, you can still avoid the interest charges by paying the outstanding balance in full by the statement due date.

  • Good if: You want to earn rewards while also cutting down on standard card costs.
  • Bad if: You want the no annual fee for the life of the card. These are usually just for a promotional period on rewards cards.

Compare rewards credit cards with no annual fee

Rates last updated July 23rd, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
American Express Essential®  Credit Card
1
14.99% p.a.
$0 p.a.
Receive a $50 credit on eligible spend and get Smartphone screen insurance when you pay for your phone or contract.
HSBC Platinum Credit Card
1
0
19.99% p.a.
$99 p.a.
Take advantage of 0% p.a. for 22 months on balance transfers, plus the ability to use Apple Pay.
Coles No Annual Fee Mastercard
0.5
0
19.99% p.a.
$0 p.a.
Receive 0.5 flybuys points for every $1 spent everywhere, plus up to 62 days interest-free on purchases.
American Express Velocity Escape Card
1
20.74% p.a.
$0 p.a.
Offers 0% p.a. for 12 months on balance transfers and complimentary purchase insurance.
Qantas American Express Discovery Card
1
20.74% p.a.
$0 p.a.
Earn Qantas points that can be redeemed for a one way, return or multi-destination Classic Flight Reward on over 50 partner airlines.
ANZ Frequent Flyer Black
75,000 bonus points
1
19.99% p.a.
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Receive 75,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases in the first 3 months.
ANZ Frequent Flyer Platinum
50,000 bonus points
0.75
19.99% p.a.
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months.
ANZ Rewards Platinum
50,000 bonus points
1.5
18.79% p.a.
$0 p.a. annual fee for the first year ($95 p.a. thereafter)
Receive 50,000 bonus Reward Points when you spend $2,500 within the first 3 months from card approval.
ANZ Rewards Black Credit Card
75,000 bonus points
2
18.79% p.a.
$0 p.a. annual fee for the first year ($375 p.a. thereafter)
Receive 75,000 bonus points when you spend $2,500 on eligible purchases within first 3 months and complimentary travel insurance.
ANZ Rewards Credit Card
25,000 bonus points
1
18.79% p.a.
$0 p.a. annual fee for the first year ($80 p.a. thereafter)
Receive 25,000 bonus Reward Points when you spend $2,500 on eligible purchases in the first 3 months from approval.
Woolworths Everyday Platinum Credit Card
1
0
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $100 eGift Card when you apply by 30 September 2017 and make an eligible purchase by 31 October 2017.

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Credit cards with $0 foreign transaction fees

These credit cards are the cheapest to use if you want to make purchases and ATM withdrawals abroad. You can use a credit card with no foreign transaction fees to spend overseas or online with international retailers without paying the extra 2-4% for currency conversion that most cards charge. To put this in perspective, if a card charged you 3% for a foreign transaction worth AUD$500, it would cost you an extra $15. These fees can quickly add up when you’re overseas, so 0% foreign fee cards offer a cheaper alternative.

Some of these credit cards also include complimentary international travel insurance. This is another way to potentially save money on costs when you go overseas.

  • Good if: You regularly shop online or have an overseas trip coming up.
  • Bad if: You don’t regularly spend in foreign currencies and want to save on other standard fees such as interest rates on purchases.

Compare credit cards with no foreign transaction fees

Rates last updated July 23rd, 2017
Name Product Foreign Currency Conversion Fee (MC) Foreign Currency Conversion Fee (VISA) Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Bankwest Zero Platinum Mastercard
0% of transaction value
$0
The greater of 2% or $4.00
$0 p.a.
Receive complimentary travel insurance for up to 6 months and up to 55 days interest-free on purchases.
ANZ Rewards Travel Adventures card
0% of transaction value
$0
$225 p.a.
Earn up to 1.50 Reward Points per $1 spent on eligible purchases and receive complimentary overseas travel and medical insurance.
Coles Platinum Rewards Mastercard
0% of transaction value
$4
$4
$89 p.a.
Earn 2 flybuys points per $1 spent and earn Velocity Status Credits when you shop at select retailers.
Bankwest Breeze Platinum Mastercard
0% of transaction value
$0
Greater of 2% or $4.00
$99 p.a.
Offers an introductory balance transfer rate of 0% p.a. for 13 months with a 2% BT fee, plus platinum perks.

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The difference between a cheap credit card and an expensive one comes down to how you spend and repay your credit card balance. A no annual fee rewards credit card represents good value for money if you can pay your balance back in full each month, while a low rate credit card will be cheaper if you carry a balance. If you need help with your comparison of the cheapest credit cards*, get in touch with us using the form at the bottom of this page.

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