Best Australian Credit Card

Information verified correct on October 26th, 2016
Woman holding various credit cards

Review Money Magazine’s 2015 Best of the Best award winners to find out which is Australia’s Best Credit Card.

In an effort to locate the best Australian credit card, Money Magazine, Australia’s foremost financial resource, publish their annual ‘The Best of the Best’ awards to compare Australia’s available financial options. Australia’s best credit cards are just one of the many categories considered under the annual awards.

Money Magazine understands that not all credit cards are suitable for every cardholder, so the awards are divided into different categories based on various credit card offers available. This way, credit cards with similar qualities are judged against one another and readers can easily compare the winning cards with their own spending patterns and unique financial needs in mind.

How to Find the Best Australian Credit Cards

Before you rush out and apply for what you believe might be the best Australian credit card, take a moment to figure out exactly what you will be using your card for. You may find that not all cards will work for you, and one particular award category will describe the type of card that best suit your needs.

The 2015 Money Magazine Awards

Review Australia’s best credit cards and make your own comparison based on your unique financial needs and some of the leading products in the market. The below awards categories will help define the different types of cards available.

Cheapest Credit Card

If you’re the type of customer who sometimes struggles to repay the outstanding balance on your credit card each month, then it makes sense to look for the cheapest credit card interest rate you can find. This way you know you’re not paying more than you need to on your debts.

Best Balance Transfer Credit Card

If you already have credit card debt that you’re struggling to repay, then opting for the best balance transfer credit card you can find could be an excellent way to reduce how much you pay in interest and begin to pay down your debt balance more quickly.

  • The Heritage Bank won the Money Magazine ‘Best Balance Transfer Credit Card’ award for bank credit cards in 2015 and the Virgin Money credit card topped the non-bank cards.

Best Rewards Credit Card

If you’re the type of customer who uses a credit card regularly to pay for purchases, perhaps a rewards credit card would suit you. You can accumulate points that can be redeemed for retail items, flights, shopping vouchers and much more. The type of customer who will benefit the most from these types of credit cards is the customer who regularly repays the outstanding balance each month to make best use of the card’s interest-free days as well as earning points.

Best Frequent Flyer Card

If you’re a regular jetsetter, a frequent flyer card could be rewarding for you. Frequent flyer cards allow you to earn points on your miles and can be redeemed for flights, upgrades and other rewards. However, if you rarely fly, this card may not be as beneficial for you.

Choose the best card for you

With so many different options to choose from, it’s obvious that the Best Australian Credit Card is the one that’s right for your personal situation and financial circumstances. Although you could use these awards as a guide, always take your needs into account and compare your options before making a decision.


What are the Best of the Best Awards?

Each year, Money Magazine narrow down and compare Australia’s best financial products, services and investments. With thousands of products from hundreds of different institutions, Money Magazine –  with the assistance of their research partners – identify over 100 gold-winning products.

Which card is best for me?

Although the Money Magazine Best of the Best Credit Card Awards could be a good place to start your credit card comparison, it shouldn’t be your only source of information. What could be considered a winning product may not suit your unique financial needs, so it’s always best to keep those in mind when making a decision.

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2 Responses to Best Australian Credit Card

  1. Default Gravatar
    Jim | March 20, 2013

    Which credit cards don’t charge transaction fees for international travel? If it is frequent flyer card even better.

    • Staff
      Marc | March 20, 2013

      Hello Jim,
      thanks for the question!

      This guide goes through some of the different cards in the market which don’t charge a transaction fee for international purchases, as well as tips for avoiding the other fees you may pay while travelling.

      I hope this helps,

Credit Cards Comparison

Rates last updated October 26th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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