choosing cheapest credit card

Compare the cheapest credit cards*

Information verified correct on May 23rd, 2017

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

Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate (p.a.) Product Description
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
Save with 13.25% p.a. on purchases. Also enjoy exclusive offers with the home&Away Privilege Program.
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
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
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
A low interest rate on everyday purchases and a long term balance transfer rate offer of 0% for 24 months.
St.George Vertigo Platinum
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 20 months
Save with 12.74% p.a. on purchases. Also enjoy Visa Platinum Concierge service.
Bendigo Bank Basic Black Credit Card
12.24% p.a.
Up to 44 days on purchases
$45 p.a.
A basic credit card that features low interest rates, low annual fee and up to 44 interest-free days on purchases.
NAB Low Rate Platinum Card
13.99% p.a.
Up to 55 days on purchases
$100 p.a.
0% p.a. for 18 months with 3% balance transfer fee
Save with 13.99% p.a. on purchases. Also enjoy access to 7 complimentary insurances.
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
Take advantage of 0% p.a. for 16 months on balance transfers and a low ongoing interest rate on purchases.
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. Also repay your credit card debt interest-free with 0% p.a. for 16 months on balance transfers.
NAB Low Rate Credit Card
13.99% p.a.
Up to 55 days on purchases
$59 p.a.
0% p.a. for 18 months with 3% balance transfer fee
Save with 13.99% p.a. on purchases. Also enjoy special offers from Visa Entertainment.
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 14 months
Enjoy a low balance transfer offer of 0% p.a. for 14 months and a low ongoing purchase rate from BankSA.
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
A no annual fee card that collects up to 1 Membership Rewards point for every $1 spent.
Bank of Melbourne Vertigo Platinum
12.74% p.a.
Up to 55 days on purchases
$99 p.a.
0% p.a. for 20 months
Save with 12.74% p.a. on purchases. Also enjoy up to 55 days interest-free.
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
Save with 11.99% p.a. on purchases. Also enjoy the protection of Fraudshield.
Westpac Low Rate Card
0% p.a. for 6 months (reverts to 13.49% p.a.)
Up to 55 days on purchases
$59 p.a.
0% p.a. for 12 months
A simple low interest rate card featuring a low ongoing rate on purchases, up to 55 days interest-free on purchases and a low annual fee.
Heritage Bank Gold Low Rate Credit Card
11.80% p.a.
0 interest free days
$0 p.a.
0% p.a. for 12 months
Save with 11.8% p.a. on purchases. Also enjoy $0 annual fee.
Coles Low Rate Mastercard
12.99% p.a.
Up to 62 days on purchases
$49 p.a.
0% p.a. for 6 months
Receive $100 off a single Coles Supermarket shop If you apply, are approved by 30 June 2017 and make a purchase within the first 30 days.

Compare up to 4 providers

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 May 23rd, 2017.

American Express Explorer® Credit Card

Bonus points offer has been changed from 100,000 to 50,000 points.

May 16th, 2017

American Express Velocity Platinum Card

Bonus points offer has changed from 50,000 to 100,000 which is valid until 31 July 2017.

May 16th, 2017

American Express Velocity Escape Card

Interest-free period has changed from 44 days to 55 days.

May 16th, 2017

View latest updates

Jonathan Choi Jonathan
Interest Free Period Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential®  Credit Card
A no annual fee card that collects up to 1 Membership Rewards point for every $1 spent.
Up to 55 days on purchases 14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Fly faster with up to 1 Qantas Point per $1 spent and receive bonus Qantas Points on selected Qantas products, services and partners.
Up to 55 days on purchases 19.99% p.a. $199 p.a. Go to site More info
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 spent and receive an annual fee refund with minimum spend.
Up to 55 days on purchases 19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 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.
Up to 55 days on purchases 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
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 0.75 Qantas Points for spending.
Up to 55 days on purchases 19.99% p.a. $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info
Bankwest Zero Platinum Mastercard
This card comes with a low 2.99% p.a. for 9 months on balance transfers, $0 foreign transaction fee, plus a $0 annual fee and complimentary international credit card travel insurance.
Up to 55 days on purchases 17.99% p.a. 2.99% p.a. for 9 months $0 p.a. Go to site More info
Citi Clear Platinum
Save with 14.99% p.a. on retail purchases. Also enjoy free wine when you dine with the Citibank Dining Program.
Up to 55 days on purchases 14.99% p.a. $99 p.a. Go to site More info
ANZ Low Rate
Take advantage of 0% p.a. for 16 months on balance transfers and a low ongoing interest rate on purchases.
Up to 55 days on purchases 12.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $58 p.a. 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 up to 1 point for every dollar spent on eligible purchases. Also, earn 75 Bonus Status Credits when you apply by 30 June 2017, buy and fly return with Qantas by 30 September 2017.
Up to 55 days on purchases 19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info
Commonwealth Bank Business Gold Awards Credit Card
Earn up to 2 Awards points per $1 spent and receive an unsecured credit limit of up to $50,000.
Up to 55 days on purchases 20.74% p.a. 5.99% p.a. for 5 months $150 p.a. Go to site More info
American Express Platinum Edge Credit Card
Earn up to 3 Membership Rewards Points per $1 spent and receive a $200 Travel Credit every year.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
Bankwest Breeze Mastercard
Enjoy an introductory rate of 0% p.a. on balance transfers for 21 months (2% balance transfer fee applies). Limited time only.
Up to 55 days on purchases 12.99% p.a. 0% p.a. for 21 months with 2% balance transfer fee $59 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.
Up to 55 days on purchases 20.24% p.a. $225 p.a. Go to site More info
American Express Explorer® Credit Card
Earn up to 2 Membership Rewards Points per $1 spent and receive a $400 Travel Credit every year.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $395 p.a. Go to site More info
ANZ Low Rate Platinum
Enjoy platinum benefits with exclusive discounts, complimentary travel insurance and personal concierge. Also repay your credit card debt interest-free with 0% p.a. for 16 months on balance transfers.
Up to 55 days on purchases 11.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $99 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
Up to 55 days on purchases 13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
Bank of Melbourne Amplify Signature
Earn up to 3 Amplify Rewards Points per $1 spent and receive an additional card at no extra cost.
Up to 55 days on purchases 19.49% p.a. $279 p.a. Go to site More info
BankSA Vertigo Visa
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
Up to 55 days on purchases 13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
St.George Vertigo Visa
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
Up to 55 days on purchases 13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
St.George Amplify Platinum
Earn up to 2 Amplify Rewards Points per $1 spent and receive complimentary overseas travel insurance.
Up to 55 days on purchases 19.49% p.a. $99 p.a. Go to site More info
St.George Vertigo Platinum
Save with 12.74% p.a. on purchases. Also enjoy Visa Platinum Concierge service.
Up to 55 days on purchases 12.74% p.a. 0% p.a. for 20 months $99 p.a. Go to site More info
Bank of Melbourne Amplify Platinum
Earn up to 2 Amplify Rewards Points per $1 spent and receive complimentary travel insurance.
Up to 55 days on purchases 19.49% p.a. $99 p.a. Go to site More info
St.George Amplify Signature
Earn up to 3 Amplify Rewards Points per $1 spent and receive two complimentary airport lounge passes per year.
Up to 55 days on purchases 19.49% p.a. $279 p.a. Go to site More info
Citi Rewards Platinum Credit Card
Take advantage of 0% p.a. for 24 months on balance transfers with a 1.5% BT fee. Plus, earn Reward Points as part of the Citi Rewards Program.
Up to 55 days on purchases 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) Go to site More info
Citi Simplicity Card
A no annual fee Platinum card with Visa Front Line Access.
Up to 55 days on purchases 19.99% p.a. 0% p.a. for 6 months $0 p.a. Go to site More info
Citi Rewards Classic Credit Card
Take advantage of 0% p.a. for 15 months on balance transfers with a 1.5% BT fee. Plus, earn Reward Points as part of the Citi Rewards Program.
Up to 55 days on purchases 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) Go to site More info
ANZ Platinum Credit Card
Enjoy platinum card benefits with $0 annual fee in the first year and complimentary overseas travel and medical insurance.
Up to 55 days on purchases 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) Go to site More info
NAB Low Rate Credit Card
Save with 13.99% p.a. on purchases. Also enjoy special offers from Visa Entertainment.
Up to 55 days on purchases 13.99% p.a. 0% p.a. for 18 months with 3% balance transfer fee $59 p.a. Go to site More info
Commonwealth Bank Business Interest-Free Days Credit Card
Save with 17.57% p.a. on purchases. Also enjoy easy integration into your online accounting software.
Up to 55 days on purchases 17.57% p.a. 5.99% p.a. for 5 months $60 p.a. Go to site More info
Commonwealth Bank Business Awards Credit Card
Earn up to 1.5 Awards points per $1 spent and easily integrate your online accounting software.
Up to 55 days on purchases 20.74% p.a. 5.99% p.a. for 5 months $100 p.a. Go to site More info
Commonwealth Bank Business Awards Platinum Credit Card
Earn up to 3 Awards points per $1 spent and stay on track with instantly updated transactions.
Up to 55 days on purchases 20.74% p.a. 5.99% p.a. for 5 months $300 p.a. Go to site More info
American Express Velocity Platinum Card
Take off sooner with up to 2.5 Velocity Points per $1 spent and receive a complimentary Virgin Australia return domestic flight every year.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $375 p.a. Go to site More info
American Express Velocity Escape Card
Take off sooner with up to 2 Velocity Points per $1 spent and pay $0 annual fee.
Up to 55 days on purchases 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info

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.
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.) Product Description
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.
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
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
Coles No Annual Fee Mastercard
$0 p.a.
19.99% p.a.
0% p.a. for 6 months
Receive $100 off a single Coles Supermarket shop If you apply, are approved by 30 June 2017 and make a purchase within the first 30 days.
BankSA 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
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
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 and competitive platinum services.
ANZ Frequent Flyer Black
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
19.99% p.a.
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.
Qantas American Express Discovery Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Take advantage of no annual fee for the life of the card plus earn 1 Qantas Frequent Flyer point per $1 spent.
HSBC Platinum Credit Card
$99 p.a.
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
Earn 1 Reward Point per $1 spent and receive an annual fee refund with minimum spend.
ANZ Frequent Flyer Platinum
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
19.99% p.a.
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 0.75 Qantas Points for spending.
NAB Rewards Platinum Card
$0 p.a. annual fee for the first year ($195 p.a. thereafter)
19.99% p.a.
4.99% p.a. for 6 months
Earn 1 NAB Rewards Point per $1 spent and receive double points on purchases made in major department and hardware stores.
Coles Platinum No Annual Fee Mastercard
$0 p.a.
19.99% p.a.
0% p.a. for 6 months
A no annual fee card that collects 1 flybuys point per $2 spent.
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 plus enjoy a $0 annual fee for the first year.
Westpac 55 Day Platinum Credit Card
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
0% p.a. for 6 months (reverts to 19.84% p.a.)
0% p.a. for 12 months
Enjoy platinum card benefits offering 0% p.a. introductory rate on purchases and balance transfers, combined with an annual fee waiver in the first year.
Bankwest Zero Platinum Mastercard
$0 p.a.
17.99% p.a.
2.99% p.a. for 9 months
Complimentary travel insurance and 24/7 Concierge service and $0 foreign transaction fees. Plus enjoy a $0 annual fee.

Compare up to 4 providers

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 May 23rd, 2017.

Citi Rewards Platinum Credit Card

Balance transfer offer has been extended until 30 June 2017.

May 12th, 2017

American Express Explorer® Credit Card

Bonus points offer has been changed from 100,000 to 50,000 points.

May 16th, 2017

American Express Velocity Platinum Card

Bonus points offer has changed from 50,000 to 100,000 which is valid until 31 July 2017.

May 16th, 2017

View latest updates

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% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
NAB Premium Card
Benefit from platinum perks plus take advantage of a low interest rate on balance transfers.
0% p.a. for 24 months with 3% balance transfer fee 19.74% p.a. $90 p.a. Go to site More info
St.George Vertigo Platinum
Save with 12.74% p.a. on purchases. Also enjoy Visa Platinum Concierge service.
0% p.a. for 20 months 12.74% p.a. $99 p.a. Go to site More info
Citi Rewards Platinum Credit Card
A long-term balance transfer offer with a range of platinum rewards and benefits.
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) Go to site More info
St.George Vertigo Visa
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
0% p.a. for 14 months 13.24% p.a. $0 p.a. annual fee for the first year ($55 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
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 spent and receive an annual fee refund with minimum spend.
0% p.a. for 22 months with 2% balance transfer fee 19.99% p.a. $99 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Take advantage of 0% p.a. for 18 months on balance transfers with a 1.5% BT fee. Plus, receive an exclusive $129 Virgin Australia Gift Voucher each 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 Low Fee Card
A low annual fee card with 0% p.a. on balance transfers for 18 months.
0% p.a. for 18 months with 3% balance transfer fee 19.74% p.a. $30 p.a. Go to site More info
HSBC Low Rate Credit Card
A competitive offer from HSBC featuring a long term balance transfer deal.
0% p.a. for 15 months with 2% balance transfer fee 13.25% p.a. $55 p.a. Go to site More info
Westpac Low Rate Card - Online Only Balance Transfer Offer
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% BT fee. Plus, the convenience of the Westpac mobile banking app.
0% p.a. for 24 months with 2% balance transfer fee 13.49% p.a. $59 p.a. Go to site More info
Citi Simplicity Card
A no annual fee Platinum card with Visa Front Line Access.
0% p.a. for 6 months 19.99% p.a. $0 p.a. Go to site More info
NAB Low Rate Credit Card
Save with 13.99% p.a. on purchases. Also enjoy special offers from Visa Entertainment.
0% p.a. for 18 months with 3% balance transfer fee 13.99% p.a. $59 p.a. Go to site More info
Virgin Money Low Rate Credit Card
Save with 11.99% p.a. on purchases. Also enjoy the protection of Fraudshield.
0% p.a. for 12 months 11.99% p.a. $99 p.a. Go to site More info
American Express Explorer® Credit Card
Earn up to 2 Membership Rewards Points per $1 spent and receive a $400 Travel Credit every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $395 p.a. Go to site More info
American Express Essential®  Credit Card
A no annual fee card that collects up to 1 Membership Rewards point for every $1 spent.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
Bankwest Breeze Mastercard
Enjoy an introductory rate of 0% p.a. on balance transfers for 21 months (2% balance transfer fee applies). Limited time only.
0% p.a. for 21 months with 2% balance transfer fee 12.99% p.a. $59 p.a. Go to site More info
ANZ Low Rate Platinum
Enjoy platinum benefits with exclusive discounts, complimentary travel insurance and personal concierge. Also repay your credit card debt interest-free with 0% p.a. for 16 months on balance transfers.
0% p.a. for 16 months with 2% balance transfer fee 11.49% p.a. $99 p.a. Go to site More info
BankSA Vertigo Visa
Save with 13.24% p.a. on purchases. Also enjoy up to 55 days interest-free.
0% p.a. for 14 months 13.24% p.a. $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
Bank of Melbourne Vertigo Platinum
Save with 12.74% p.a. on purchases. Also enjoy up to 55 days interest-free.
0% p.a. for 20 months 12.74% p.a. $99 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. for 14 months 19.99% p.a. $0 p.a. annual fee for the first year ($49 p.a. thereafter) Go to site More info
American Express Velocity Platinum Card
Take off sooner with up to 2.5 Velocity Points per $1 spent and receive a complimentary Virgin Australia return domestic flight every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $375 p.a. Go to site More info

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 May 23rd, 2017.

HSBC Platinum Credit Card

Balance transfer offer has been changed to 0% p.a. for 22 months and is valid until 31 August 2017.

May 8th, 2017

ANZ Rewards Platinum

A new offer of 50,000 Reward Points when you spend $2,500 on purchases within the first 3 months.

May 8th, 2017

ANZ Rewards Black Credit Card

A new offer of 75,000 bonus points when you spend $2,500 in the first 3 months

May 8th, 2017

View latest updates

Jonathan Choi Jonathan
Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Bonus Points Annual fee
NAB Rewards Platinum Card
Earn 1 NAB Rewards Point per $1 spent and receive double points on purchases made in major department and hardware stores.
1 80,000 bonus points $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
American Express Essential®  Credit Card
A no annual fee card that collects up to 1 Membership Rewards point for every $1 spent.
1 $0 p.a. Go to site More info
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 spent and receive an annual fee refund with minimum spend.
1 0 $99 p.a. Go to site More info
Coles No Annual Fee Mastercard
Receive $100 off a single Coles Supermarket shop If you apply, are approved by 30 June 2017 and make a purchase within the first 30 days.
0.5 0 $0 p.a. Go to site More info
American Express Velocity Escape Card
Take off sooner with up to 2 Velocity Points per $1 spent and pay $0 annual fee.
1 $0 p.a. Go to site More info
Qantas American Express Discovery Card
Fly faster with up to 2 Qantas Points per $1 spent and enjoy the convenience of Apply Pay, Samsung Pay or Android Pay.
1 $0 p.a. 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 up to 1 point for every dollar spent on eligible purchases. Also, earn 75 Bonus Status Credits when you apply by 30 June 2017, buy and fly return with Qantas by 30 September 2017.
1 75,000 bonus points $0 p.a. annual fee for the first year ($425 p.a. thereafter) 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 0.75 Qantas Points for spending.
0.75 50,000 bonus points $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info
American Express Platinum Edge Credit Card
Earn up to 3 Membership Rewards Points per $1 spent and receive a $200 Travel Credit every year.
0 1 $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
NAB Rewards Classic Card
Earn 0.75 NAB Rewards Point per $1 spent and receive complimentary purchase protection insurance.
0.75 40,000 bonus points $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
ANZ Rewards Platinum
Receive 50,000 bonus Reward Points when you spend $2,500 within the first 3 months plus enjoy a $0 annual fee for the first year.
1.5 50,000 bonus points $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
ANZ Rewards Black Credit Card
This card offers 75,000 bonus points when you spend $2,500 on eligible purchases in the first 3 months from approval and $0 annual fee for the first year. Earn up to 2 reward points per $1 spent and unlimited access to airport lounges with complimentary travel insurance.
2 75,000 bonus points $0 p.a. annual fee for the first year ($375 p.a. thereafter) Go to site More info
ANZ Rewards Credit Card
Receive 25,000 bonus points when you spend $2,500 on eligible purchases in the first 3 months from approval, earn up to 1 point per $1 spent on eligible purchases, plus enjoy a $0 annual fee for the first year.
1 25,000 bonus points $0 p.a. annual fee for the first year ($80 p.a. thereafter) Go to site More info

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 May 23rd, 2017.

Bankwest Breeze Platinum Mastercard

New balance transfer offer of 0% p.a. for 21 months with 2% BT fee and 12.99% p.a. on purchases

December 12th, 2016

Coles Platinum Rewards Mastercard

A new offer of $100 off a single Coles Supermarket shop which is valid until 30 June 2017

May 1st, 2017

View latest updates

Jonathan Choi Jonathan
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
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
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
Coles Platinum Rewards Mastercard
Earn 2 flybuys points per $1 spent and take advantage of 62 interest-free days.
0% of transaction value $4 $89 p.a. Go to site More info
Bankwest Breeze Platinum Mastercard
A Platinum card offer with a 0% p.a. for 21 months on balance transfers and $0 on foreign transactions. Limited time only.
0% of transaction value $99 p.a. Go to site More info

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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