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Browse the different types of credit cards and find the one ideal for you.

rewards programReward Program Credit Cards
Reward program cards allow you to accumulate points every time you use your card. Rewards points can be cashed in for Cash, Petrol, Flights, Upgrades on Flights, Supermarket vouchers, electronics and many other items – see here for a list of products and services you can potentially earn from your rewards program. They generally have higher interest rates as well.

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To find out how reward and low interest cards weigh up against each other, along with how much you actually need to spend on a rewards card in order to gain money, see our reward & low interest comparison article.

Some of the types of Reward programs include:

Gold & Platinum IconGold/Platinum Credit Cards
These are a subset of rewards credit cards and generally have a little more Luxury, special services and travel insurance. Its important when selecting one of these cards to:

  • Compare the rate at which you earn points – Some cards earn you more points faster for every dollar that you spend. E.g. $1 = 1 point vs $1 = 3 points (That is a better rate!)Â
  • Cappings of points accumulation per month – Some cards cap how many points you can earn in a month, this might limit how many points you earn if you spend more than the cap each month. Try and balance your monthly spends with your points caps.Â

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For instance, if you only earn 2 reward points for every $1 spent until $15,000 has been spent each year, you may find it necessary to go out of your way and spend until you’re capped. After that, you can tone down the spending as the rate of return would have typically dropped to 1 point for 1 dollar.

  • When the points expire – Some cards points expire after a certain time period. This will force you to acquire points quickly before they expire to cash in something big. Try and get a card without expiry if you want to store you points up for a long time.Â

As far as reward programs go, the more it costs to maintain, the more benefits such as ‘no point expiry’ will be thrown in. Practically all gold and platinum cards feature no point expiry, whereas free programs like FlyBuys expire after 3 years.

Gold and platinum cards require quite high credit worthiness although offer very high credit limits as a result of strict approval.

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No Annual Fee Credit Cards
Not paying an annual fee is great when you don’t use your credit card very much. these card are not for you if you are going to carry a balance on your card because you are going to pay up big with interest. To get an idea of how much interest you’d pay in comparison to a regular credit card, use our free quick and easy interest calculator here.

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Ideal as a backup card or for people who just want to make online purchases but want to credit the cards before they make the purchases so that you don’t have to pay interest. There are a couple of catches and minor nuisances that may occur from no annual fee credit cards. To avoid these, check out ‘4 ways to get stung by a no annual fee card‘.

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Low Interest IconLow Interest Rate Credit Cards
Carrying a balance on your card? Know you are going to need to carry a balance for a while? Definitely consider getting the lowest rate you can possibly get on your card. Credit card interest can stack up quick and you don’t want to be stuck paying off your balance for the next 5 years, calculate interest repayments can be insightful.

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Low Balance Transfer Credit Cards
A balance transfer is when you use one credit card to repay the debts on another credit or store card you already had. So, you now owe it the money instead, hopefully at a special cheap rate. Be careful with these but there are some nasty traps you can fall into that could make your debt worse.

Some of the types of Balance Transfers include:

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Low Cash Advance Credit Cards
Cash advance rates are the interest rates you are charged when you withdraw cash from your credit card. Normal purchases are different to this as you will get a statement and will not be charged interest if you repay it before the interest free days period is up.  Cash advances therefore cost more although provide you with access to cash when you really need it. See the our article on the Ideal times to use cash advance credit cards here.

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Student Credit Cards – These cards are ideal for students and have special benefits to them. In general students receive a lower limit although get a lower annual fee. See our guide to student credit cards in Australia for more information.

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Debit Credit Cards
Debit card allow you to use all the functionality of a credit card although use the funds in your bank account as opposed to borrowing money from a provider. See the benefits of a debit card here. These can be perfect if you are trying to not get into debt because you can only spend the money you have in your account, and you still have the access to make online purchases. Take care not to spend more than what’s in your savings account – if you do so, you will go into overdraft, and be hit instantly with a generally harsh two figure fee.

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Business Credit Cards

If you run a business and use a credit card you may aswell get the best interest rate and earn as many frequent flyer points as possible! <Link to article about “Maximising Your frequent flyer points with your business – Talk about using the card for all purchases that the business makes”>

Reference articles
Hot to choose a credit card – Fido


Related posts:

  1. How To Compare Different Types of Credit Cards
  2. How to Compare Credit Card Types
  3. Complete Guide: Types of Loans in Australia
  4. Types Of Bank Account
  5. Credit Card Reward Program Comparison Improved

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Bankwest Balance Transfer Credit Card

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)

St George  
Vertigo MasterCard Application
St George Vertigo
Editor's Choice:
Low Interest
Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.
2.99% for 6 months (reverts to 11.99%) 20.74% 2.99% for 6 months $55 55
Coles Group Source MasterCard
Coles Group Source MasterCard
The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points19.74%21.99%0% for 6 months$062 Apply Now For The Coles Group Source MasterCard
Read More About The Coles Group Source MasterCard
BankWest More Platinum MasterCard
Bankwest Zero Platinum MasterCard
Editor's Choice:
No Annual Fee
Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers
16.99% 16.99% 1.99% for 9 months $0 55

Card Types

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Best Balance Transfers
The most competitive 0% p.a. and 'for life' offers of 2010.

Guide to Credit Ratings
Information about your credit file. Find out what you can apply for with good and bad credit.

Rewards Comparison
Australian reward program details including point capping & expiry.

Foreign Fees & Charges
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Enter your balance(s) to calculate the interest to pay on your cards.

Balance Transfer Calculator
Input a balance transfer offer to calculate your potential savings.
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