Compare Credit Cards

Your credit card comparison checklist awaits, no matter what kind of card you’re after…

It’s important to compare different credit cards so that you know you’re getting the best deal possible. The card you have may have seemed great when you got it, but there are new credit cards coming on the market all the time, and a different one may be able to give you lower interest rates, better rewards program benefits and better protection against fraud. When it comes to credit cards, it pays to shop around.

In a recent survey, only 6% of Australians said they bothered to check out a credit card comparison site before making a credit card application. Around 50% only applied to their own bank. Comparing credit cards is crucial because if you don’t know the facts, you won’t get the best card available. It’s just that simple.

So what factors should you compare different credit cards on? Find out in this handy guide. We’ve given you all the tips you need to know about comparing cards, no matter what type you’re after.

Featured Low Interest Rate Credit Card

The ANZ Low Rate Credit Card offers amazing value right from the very start. You will save with a low ongoing rate on purchases combined with an interest free balance transfer offer for the first 6 months

• $58 annual fee
• 13.24% p.a. on purchases
• 0% p.a. for 6 months on balance transfers
• Cash Advance Rate of 21.49%
• Comes with 24/7 Falcon™ protection

Click here to read the ANZ Low Rate MasterCard terms and conditions

Credit Card Comparison:

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
ANZ Low Rate MasterCard	Save with low interest rate on purchases and enjoy 0% p.a. on balance transfers for the first 6 months.	13.24%	21.49%	0% for 6 months	$58	55
HSBC Credit Card	Benefit from 0% for 6 months on balance transfer rate. Rewards program for shopping, entertainment, travel, lifestyle and leisure.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A unique card which offers low rates on purchases & cash advances and a low annual fee, but does not come with interest free days. Optional rewards program for extra fees.	12.24%	17.99%	1.9% for 12 months	$39	0
Bankwest Lite MasterCard	Editor's Choice: Best Card Benefit from a 1.99% balance transfer rate for up to 9 months, and a guaranteed low interest rate of 10.75% p.a. with the Bankwest Lite Mastercard. Reduce stress with a guaranteed low rate credit card that helps you manage your credit card debt.	10.75%	21.74%	1.99% for 9 months	$59	55
Aussie MasterCard	With Aussie's low 2.99% p.a on balance transfers for the first 6 months, you can fight back! The Aussie MasterCard also has a low rate of 2.99% on purchases. *After 6 months, the 2.99% p.a. purchase rate reverts to standard variable rate which is currently 12.29% p.a.	2.99% for 6 months (reverts to 12.99%)	19.79%	2.99% for 6 months	$49	55
Citibank Platinum Card	For high debt that needs a long time to be repaid, the 3.9% balance transfer for life can’t be beaten. Also a popular and prestigious Platinum card offer.	20.74%	21.24%	3.9% for life	$125 (First Year, Save $125)	55
Woolworths Everyday Money	Earn up to 3 reward points for every $1 you spend^ on your Everyday Money card, every 4 months, if you have enough points, you will automatically be sent a shopping card.	19.49%	20.99%	0% for 6 months	$0 for the first year ($49 per year after that)	55
ANZ Frequent Flyer - Balance Transfer Option	Earn 1 Frequent Flyer point for every $1 spent on your American Express card, and 1 point for every $2 spent on your Visa. Uncapped Frequent Flyer earnings. Both cards linked to same account with one annual fee, credit limit and statement.	19.49%	20.74%	2.9% for 12 months	$95	44

Easily compare: Low Rate Balance Transfer Offers

The key points to consider when transferring your balance to another bank are:

• What interest rate applies to the balance transfer? Generally speaking, the lower rate the bank will give you, the less time you have to settle your debt before the regular rate kicks in.
• How long do you have before the balance transfer rate runs out? It could be 6 months, 9, 12, etc, but you need to know.
• Is there an annual fee?
• Is there a limited time in which you have to instigate a balance transfer with the new bank – e.g. within three months of receiving the new card, or less?
• What does the balance transfer apply to? The special rate of interest applies to the transferred amount only. It will not apply to any new purchases, nor to any new cash transactions made on the card—these will be treated differently to the transferred amount.

Click and compare: low balance transfer credit cards

Easily compare: Rewards Credit Cards

The key points to consider when comparing different rewards credit cards are:

• Don’t assume you’re getting something for nothing – take into account every aspect of the card into account when comparing or you may end up paying more for few benefits.
• Is there an annual fee?  You may be paying more in fees than you receive back in rewards.
• How do you earn your points? Points are earned when you spend on your card. You should never think it is a good move to spend purely to earn points. If you end up not being able to pay off your balance at the end of the month, the value of any points earned will be more than wiped out by your interest payments.
• What are you points worth? Translate the reward points of different cards back into dollar value. E.g. $1 = 1 point = 5c, another may be $1 = 1 point = 50c, or $1 = 1 point = 75c etc. You need to put in the effort to uncover this information, but if you don’t do it then you cannot effectively compare different rewards schemes.
• How can you redeem your points? The main options are: Travel rewards: make sure your card is affiliated with the airline that you often use and that services routes you usually fly on. The rewards often also cover more than just flights. Retail goods: you can earn points for shopping at affiliated retail locations or whenever you make any purchase, or you can have discounts applied at the time of purchase with that specific card. Cashback: this means you get a certain amount of cashback for your spending. Either you get a percentage of your total spend back, usually 1%, or you can redeem accumulated points for cash. Cashback can be paid in multiple ways. Charities: These cards will donate a percentage of your total spend to the given charity.
• Cap and expiry – there may be a limit imposed on how many points you can earn on a certain period. Check the expiry date on points too – this prevents people who do not spend much from saving up for a decent reward because they are forced to redeem their points before then.
• Interest free days, interest rates, fees and charges. A rewards card is just like any other credit card and you will be hit with interest charges if you do not pay off your balance in full each month.

Click and compare: rewards credit cards

Easily compare: No Annual Fee Credit Cards

The key points to consider when comparing different No Annual Fee credit cards are:

• Is the provider compensating themselves in another way for waiving the annual fee?
• Does an annual fee kick in after a certain time period, e.g. after one year?
• What is the interest rate? Look for the lowest interest rate available unless you are absolutely, without a doubt certain that you’ll be able to pay off your debt in full each month.
• How many interest free days do you get? You should still be able to get interest-free days even if there is no annual fee. Most cards will allow up to 55 days interest-free credit on purchases, though it varies. Note that you don’t actually get 55 days interest free on all your purchases – this is the maximum amount of time you get if your first transaction is on the first day of your new statement period.
• Balance transfer offers – this is typically a popular hook to get new customers, however, if you do have a debt on another card and you can find a new provider offering a zero fee and a great balance transfer rate, you should grab it while you can. The new card provider will most likely be gambling on the possibility that you will not be able to pay off your transferred balance before the offer period expires and a much higher interest rate takes over. Make sure you check the fine print in this situation because the rate your balance transfer reverts to may not be the regular rate of interest; it may instead be the cash advance interest rate, which is usually around 20%. It is your responsibility to check, therefore, sure that you choose a balance transfer deal that is realistic. In other words, one that offers a long enough period of time to completely repay the debt.

Click and compare: no annual fee credit cards

Easily compare: Low Interest Credit Cards

The key points to consider when comparing different Low interest credit cards are:

• Look for the lowest annual fee
• Look for the lowest interest rate
• Check whether the rates are introductory rates or ongoing
• Check whether the card has a rewards scheme – but evaluate these with a fine toothed comb before going ahead, as you may lose out if you don’t
• Check for hidden fees and charges – read the fine print on the website before you apply
• Check what the cash transaction or cash handling fee is
• Check what the foreign transaction fees are if you travel

Click and compare: low interest credit cards

Find the best credit card for you

Compare Australian credit cards and read up on relevant and valuable Australian credit card articles. If you're new to credit cards or would like to find more information about particular credit cards, new and comprehensive credit card guides are listed.

• Compare the Best Credit Cards - We take the most popular credit card types and select the best credit card of each. Our rating of 'best' is a mixture of independent review, Cannex star ratings and consumer feedback.
• Compare the Top 10 Credit Cards - This is the same credit card comparison table which features on the homepage. The difference between 'best' and 'top' credit cards? This is a more straightforward table which focuses mainly on low interest cards.

• Compare Low Interest Credit Cards - One of the most popular forms of credit card. Simple and straight to the point, recommended for Australians who sometimes carry a credit card balance and need to save money with low rates.
• Low Interest Rate Information - Everything you need to know about the advantages and disadvantages of a low interest card vs other credit card forms. Links to various articles explaining relative low interest concepts, such as interest free days which will help determine whether a low rate card is suitable for your needs.

• Compare Balance Transfer Credit Cards - Get straight into comparing the best 0%, 2.9% and 4.9% balance transfer offers. Some handy tips on avoiding balance transfer traps and maximising your savings included on the page.
• Balance Transfer Information - A more comprehensive guide to balance transfers. The ultimate branch out to our balance transfer resources, explaining the in's and out's of the balance transfer process and the potential for savings.

• Compare Reward Program Credit Cards - People spend different amounts on their credit cards per annum. The amount you spend affects how much you can potentially earn, or lose from your reward cards. We compare the top reward cards in three different annual spend levels - $12,000+, $24,000+ and $60,000+.
• Reward Program Information - Reward programs are one of the most enticing and complex features of credit cards. On the surface it sounds easy - earn points for spending on your credit card, and redeem those points for rewards. However, once you take into account interest repayments and annual fees, it becomes obvious that credit cards with reward programs aren't for everyone. View our extensive resources to determine whether rewards are right for you.

• Compare No Annual Fee Credit Cards - No annual fees are arguably the most appealing feature to consider when you compare credit cards. Whether you're after a balance transfer, rewards, low interest or even a business card, everyone will seek out the lowest fee possible with their card.
• No Annual Fee Information - Credit cards with no annual fee often come with a catch, such as a lack of grace periods on purchases and high rates. If you're uncertain whether a no annual fee card will benefit you in the long run, have a read of the no annual fee credit card guide.

• Compare Gold & Platinum Credit Cards - For those who earn, spend and travel a lot there's no better and rewarding option than a gold credit card or a platinum credit card. While these cards have high annual fees and interest rates, they offer plenty of international travel benefits and insurance, high credit limits and other privileges.
• Gold & Platinum Information - While these credit cards offer plenty of features, they're only truly beneficial if you take advantage of them. Your $200+ annual fee covers a wide range of insurance and entertainment access, but you need to ask yourself whether it's truly worth the cost.

• Compare Debit Cards - Some of us either don't trust ourselves with a credit card, or truly don't need access to credit. They can make do with using their own savings, but would still like the purchase access that a credit card offers. The two best debit cards are listed on the page for ease of comparison.
• Debit Information - A comprehensive explanation of debit cards, weighing up the pros and cons of owning a credit card verses a debit card.

• Compare Cashback Cards - Cashback credit cards a sub-category of reward program cards. In essence there are two types of 'cashback' offers - 'cashback rewards' and 'moneyback'. This comparison is predominantly for 'cashback rewards' because they are the most popular and valuable on the Australian market.
• Cashback Information - Find out the differences between the two forms of cashback card offers, as well as their advantages and disadvantages.

 

• Overseas Travel Credit Cards - Learn everything you need to know about credit cards if you are considering travelling overseas.
  
  
• No Fee Balance Transfer Credit Cards - find out how to transfer your balance to a new credit card without paying a balance transfer fee
• Travel Services Credit Cards - Find credit cards that offers benefits for regular travellers
• Interest Free Credit Cards - Credit cards that offers an interest free balance transfer period or purchase rate
• Super Balance Transfer Credit cards - A credit card that features a phenomenal balance transfer offer, is targeted to attracting new customers. These are great offers if you are looking to consolidate and pay less credit card interest

Check out more credit card comparison tips and guides to help you compare credit cards and find a credit card that is right for you.

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• Compare 0% Balance Transfer Credit Cards
  

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Editor's Choice: Our Top Credit Cards




Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0