Compare the cheapest credit cards*

Information verified correct on September 30th, 2016
choosing cheapest credit card

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.

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.

Compare low- or no- interest credit cards

Rates last updated September 30th, 2016.

Bank of Melbourne Vertigo Visa Credit Card

Intro APR of 1% for 12 months and BT offer of 0% for 18 months extended until 4 January 2017.

September 30th, 2016

St.George Vertigo Platinum

Balance transfer period changed from 20 to 18 months and is valid until 4 January 2017.

September 30th, 2016

St.George Vertigo Visa

Balance transfer and purchase offer have been extended until 4 January 2017.

September 30th, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
Westpac Low Rate Card
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.
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. Up to 55 days on purchases 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 2% balance transfer fee $59 p.a. Up to 55 days on purchases Go to site More info
ME Bank frank Credit Card
A low interest rate on purchases and cash advances with no annual fee charge.
11.99% p.a. $0 p.a. Up to 55 days on purchases Go to site More info
Westpac 55 Day credit card
Enjoy a balance transfer offer of 0% p.a. for 16 months, an introductory purchase rate of 1% p.a. for up to 12 months, plus a waived annual fee for the first year if applied by 11 October 2016.
1% p.a. for 12 months (reverts to 19.84% p.a.) 0% p.a. for 16 months $0 p.a. annual fee for the first year ($30 p.a. thereafter) Up to 55 days on purchases Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Up to 55 days on purchases Go to site More info
Newcastle Permanent Value+ Credit Card
Enjoy a competitive annual fee and interest rates on purchases, cash advances, and balance transfers.
11.49% p.a. $49 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 18 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 18 months $99 p.a. Up to 55 days on purchases Go to site More info
Coles Low Rate MasterCard
A low rate MasterCard with a competitive rate on purchases and a low annual fee.
9.99% p.a. 0% p.a. for 6 months $49 p.a. Up to 62 days on purchases Go to site More info
Westpac 55 Day Platinum Credit Card
Enjoy platinum benefits offering complimentary insurances, 24/7 concierge, balance transfer offer of 0% p.a. for 16 months, purchase rate offer of 1% p.a. for 12 months with $0 annual fee for the first year if applied by 11 October 2016.
1% p.a. for 12 months (reverts to 19.84% p.a.) 0% p.a. for 16 months $0 p.a. annual fee for the first year ($90 p.a. thereafter) Up to 55 days on purchases Go to site More info
NAB Low Fee Card
Enjoy a low introductory rate of 0% p.a. on balance transfers and purchases for 15 months.
0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $30 p.a. Up to 44 days on purchases Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Take advantage of this exclusive offer and enjoy 0% p.a. for the first 12 months on balance transfers and 0% p.a. for the first 3 months on purchases.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $30 p.a. Up to 44 days on purchases Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for up to 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 18 months and 1% p.a. for 12 months on purchases combined with complimentary insurance covers.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 18 months $99 p.a. Up to 55 days on purchases Go to site More info
ANZ Low Rate
Save on your existing credit card interest with 0% for 18 months on balance transfers with a low annual fee and low ongoing purchase rate.
13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Visa
A low rate credit card with 0% for 18 months on balance transfers and low ongoing purchase rate from BankSA.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
Citi Clear Platinum Card
Enjoy 0% p.a. for 9 months interest-free purchasing and 0% p.a. for 9 months on balance transfers.
0% p.a. for 9 months (reverts to 14.99% p.a.) 0% p.a. for 9 months $99 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Platinum
Experience Platinum card benefits with complimentary insurance policies and 24/7 Visa Platinum Concierge Service. Get 0% for 18 months on balance transfers and 1% for 12 months if you apply by 4 January 2017.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 18 months $99 p.a. Up to 55 days on purchases Go to site More info

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 September 30th, 2016.

Commonwealth Bank Business Interest Free Days credit card

First year annual fee waiver has been extended until 31 October 2016.

September 2nd, 2016

ME Bank frank Credit Card

Interest rate changed from 9.99% p.a. to 11.99% p.a. on purchases, balance transfers and cash advanc

September 19th, 2016

Bank of Melbourne Vertigo Visa Credit Card

Intro APR of 1% for 12 months and BT offer of 0% for 18 months extended until 4 January 2017.

September 30th, 2016

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Interest Free Period
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. Up to 55 days on purchases Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Up to 55 days on purchases Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Up to 55 days on purchases Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for up to 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases 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. Up to 55 days on purchases Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive $200 back when you spend $500 in the first 3 months. Also enjoy a $0 annual fee for the first year.
19.74% p.a. $0 p.a. annual fee for the first year ($87 p.a. thereafter) Up to 55 days on purchases Go to site More info
Westpac Low Rate Card
A no frills credit card with an introductory rate of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases.
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. Up to 55 days on purchases Go to site More info
Citi Clear Platinum Card
A low rate platinum credit card with a low interest rate on purchases and balance transfers.
0% p.a. for 9 months (reverts to 14.99% p.a.) 0% p.a. for 9 months $99 p.a. Up to 55 days on purchases Go to site More info
28 Degrees Platinum MasterCard
Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee.
21.99% p.a. 4.99% p.a. for 6 months $0 p.a. Up to 55 days on purchases Go to site More info
ANZ Low Rate
Save with a low rate on purchases and balance transfers with a low annual fee and ongoing purchase rate.
13.49% p.a. 0% p.a. for 18 months with 3% balance transfer fee $58 p.a. Up to 55 days on purchases Go to site More info
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy 0% p.a. for 12 months on balance transfers and receive a complimentary Virgin Australia domestic economy return flight every year.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $195 p.a. Up to 55 days on purchases Go to site More info
BankSA Vertigo Visa
A low interest rate card with a low annual fee, a long term balance transfer offer of 0% p.a. for 18 months and an introductory offer of 1% p.a. for 12 months on purchases.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Up to 55 days on purchases Go to site More info
Citi Rewards Platinum Card - Cashback Offer
Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
20.99% p.a. 0% p.a. for 12 months $99 p.a. annual fee for the first year ($199 p.a. thereafter) Up to 55 days on purchases Go to site More info
Commonwealth Bank Business Interest Free Days credit card
Take advantage of $0 annual fee for the first year. Get up to 55 interest-free days on purchases and included transit accident insurance.
17.57% p.a. $0 p.a. annual fee for the first year ($60 p.a. thereafter) Up to 55 days on purchases Go to site More info
Commonwealth Bank Business Platinum Awards credit card
Earn up to 3 Awards points per dollar spent, enjoy complimentary insurances and $0 annual fee for the first year.
20.74% p.a. $0 p.a. annual fee for the first year ($300 p.a. thereafter) Up to 55 days on purchases Go to site More info
American Express Explorer Credit Card
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 2 months of Card Membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $395 p.a. Up to 55 days on purchases 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.
19.74% p.a. 0% p.a. for 18 months with 3% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Up to 55 days on purchases Go to site More info
Newcastle Permanent Value+ Credit Card
Enjoy a competitive annual fee and interest rates on purchases, cash advances, and balance transfers.
11.49% p.a. $49 p.a. Up to 55 days on purchases 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.

Compare no annual fee credit cards

Rates last updated September 30th, 2016.

HSBC Platinum Credit Card

$0 annual fee + 0% for 15 months on balance transfers offer extended until 31 December 2016

September 1st, 2016

Commonwealth Bank Business Platinum Awards credit card

First year annual fee waiver has been extended until 31 October 2016.

September 2nd, 2016

ME Bank frank Credit Card

Interest rate changed from 9.99% p.a. to 11.99% p.a. on purchases, balance transfers and cash advanc

September 19th, 2016

View latest updates

Jonathan Choi Jonathan
Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.)
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
$0 p.a. 14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee Go to site More info
Westpac 55 Day credit card
Enjoy a balance transfer offer of 0% p.a. for 16 months, an introductory purchase rate of 1% p.a. for up to 12 months, plus a waived annual fee for the first year if applied by 11 October 2016.
$0 p.a. annual fee for the first year ($30 p.a. thereafter) 1% p.a. for 12 months (reverts to 19.84% p.a.) 0% p.a. for 16 months Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive $200 back when you spend $500 in the first 3 months. Also enjoy a $0 annual fee for the first year.
$0 p.a. annual fee for the first year ($87 p.a. thereafter) 19.74% p.a. Go to site More info
ME Bank frank Credit Card
A low interest rate on purchases and cash advances with $0 annual fee for the life of the card.
$0 p.a. 11.99% 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.
$149 p.a. 19.99% p.a. 0% p.a. for 15 months Go to site More info
Virgin No Annual Fee Credit Card
No annual fee credit card with $100 cashback and a long term low rate balance transfer offer of 0% p.a. for 18 months with 2% balance transfer fee. Spend criteria applies for cashback offer.
$0 p.a. 18.99% p.a. 0% p.a. for 18 months with 2% balance transfer fee Go to site More info
Coles No Annual Fee MasterCard
Enjoy no annual fee for the life of the card and earn 1 flybuys point for every $2 spent.
$0 p.a. 19.99% p.a. 0% p.a. for 6 months Go to site More info
Westpac 55 Day Platinum Credit Card
Enjoy platinum benefits offering complimentary insurances, 24/7 concierge, balance transfer offer of 0% p.a. for 16 months, purchase rate offer of 1% p.a. for 12 months with $0 annual fee for the first year if applied by 11 October 2016.
$0 p.a. annual fee for the first year ($90 p.a. thereafter) 1% p.a. for 12 months (reverts to 19.84% p.a.) 0% p.a. for 16 months Go to site More info
American Express Qantas Discovery Card
Earn up to 7,500 bonus Qantas Frequent Flyer points, plus take advantage of no annual fee for the life of the card. Earn 1 Qantas Frequent Flyer point per $1 spend.
$0 p.a. 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee 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.
$0 p.a. annual fee for the first year ($87 p.a. thereafter) 19.74% p.a. 0% p.a. for 18 months with 3% balance transfer fee Go to site More info
28 Degrees Platinum MasterCard
No annual fee for life, up to 55 days interest-free on purchases and no foreign transaction fees.
$0 p.a. 21.99% p.a. 4.99% p.a. for 6 months Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points when you meet the minimum spend requirement and earn up to 2 points for every $1 you spend, together with a $0 annual fee.
$0 p.a. 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee Go to site More info
ANZ First Student Card
An ideal credit card for students with 44 days interest-free on purchases with $0 annual fee in the first year. Access your account on the go with the goMoney™ app.
$0 p.a. annual fee for the first year ($30 p.a. thereafter) 19.74% p.a. Go to site More info
Citi Simplicity Card
Pay no annual fee to ever, plus receive access to complimentary purchase insurance and the Citibank Dining Program.
$0 p.a. 11.99% p.a. for 24 months (reverts to 19.99% p.a.) Go to site More info
Coles Platinum No Annual Fee MasterCard
Enjoy no annual fee for the life of the card and enjoy platinum card benefits.
$0 p.a. 19.99% p.a. 0% p.a. for 6 months Go to site More info
Commonwealth Bank Business Platinum Awards credit card
Earn up to 3 Awards points per dollar spent, enjoy complimentary insurances and $0 annual fee for the first year.
$0 p.a. annual fee for the first year ($300 p.a. thereafter) 20.74% p.a. Go to site More info

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 September 30th, 2016.

Bank of Melbourne Vertigo Platinum

Balance transfer offer changed from 20 to 18 months, extended until 4 January 2017.

September 30th, 2016

Bank of Melbourne Vertigo Visa Credit Card

Intro APR of 1% for 12 months and BT offer of 0% for 18 months extended until 4 January 2017.

September 30th, 2016

St.George Vertigo Platinum

Balance transfer period changed from 20 to 18 months and is valid until 4 January 2017.

September 30th, 2016

View latest updates

Jonathan Choi Jonathan
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
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.
0% p.a. for 15 months 19.99% p.a. $149 p.a. Go to site More info
Westpac 55 Day credit card
Enjoy a balance transfer offer of 0% p.a. for 16 months, an introductory purchase rate of 1% p.a. for up to 12 months, plus a waived annual fee for the first year if applied by 11 October 2016.
0% p.a. for 16 months 1% p.a. for 12 months (reverts to 19.84% p.a.) $0 p.a. annual fee for the first year ($30 p.a. thereafter) Go to site More info
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.
0% p.a. for 18 months 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 18 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
Westpac Low Rate Card
A no frills credit card with an introductory rate of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.49% p.a.) $59 p.a. Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Exclusive Offer to finder.com.au

Enjoy 0% p.a. for the first 12 months on balance transfers and 0% p.a. for the first 3 on purchases.

0% p.a. for 12 months 0% p.a. for 3 months (reverts to 19.74% p.a.) $30 p.a. Go to site More info
Citi Qantas Signature Credit Card
Earn up to 50,000 bonus Qantas Points when you spend $2,000 or more on eligible purchases in the first 90 days. Plus, enjoy introductory interest rates on balance transfers and purchases with a discounted annual fee of $199 in the first year.
0% p.a. for 6 months 20.99% p.a. $199 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for up to 12 months on purchases.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
Westpac 55 Day Platinum Credit Card
Enjoy platinum benefits offering complimentary insurances, 24/7 concierge, balance transfer offer of 0% p.a. for 16 months, purchase rate offer of 1% p.a. for 12 months with $0 annual fee for the first year if applied by 11 October 2016.
0% p.a. for 16 months 1% p.a. for 12 months (reverts to 19.84% p.a.) $0 p.a. annual fee for the first year ($90 p.a. thereafter) Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
Virgin No Annual Fee Credit Card
No annual fee for the life of the card with $100 cashback and a 0% p.a. offer on balance transfers for 18 months. Spend criteria applies for cashback offer.
0% p.a. for 18 months with 2% balance transfer fee 18.99% p.a. $0 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 18 months and 1% p.a. for 12 months on purchases combined with complimentary insurance covers.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
American Express Explorer Credit Card
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 2 months of Card Membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $395 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 September 30th, 2016.

Coles No Annual Fee MasterCard

New offer of 10,000 bonus points which is valid until 30 September 2016.

September 1st, 2016

Coles Platinum No Annual Fee MasterCard

New offer of 10,000 bonus points on sign up. Offer ends 30 September 2016.

September 1st, 2016

HSBC Platinum Credit Card

$0 annual fee + 0% for 15 months on balance transfers offer extended until 31 December 2016

September 1st, 2016

View latest updates

Jonathan Choi Jonathan
Rewards Points per $ spent (AMEX) Rewards Points per $ spent (VISA/MC) Bonus Points Annual fee
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
1 $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.
0 1 $149 p.a. Go to site More info
Coles No Annual Fee MasterCard
Enjoy no annual fee for the life of the card and earn 1 flybuys point for every $2 spent.
0 0.5 $0 p.a. Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points when you meet the minimum spend requirement and earn up to 2 points for every $1 you spend, together with a $0 annual fee.
1 0 7,500 bonus points $0 p.a. Go to site More info
American Express Qantas Discovery Card
Enjoy up to 7,500 bonus Qantas Frequent Flyer Points and 1 point per $1 spent, plus 0% p.a. on balance transfers for 12 months, all for a $0 annual fee.
1 0 7,500 bonus points $0 p.a. Go to site More info
Coles Platinum No Annual Fee MasterCard
Enjoy no annual fee for the life of the card and enjoy platinum card benefits.
0 0.5 $0 p.a. Go to site More info
Commonwealth Bank Business Platinum Awards credit card
Earn up to 3 Awards points per dollar spent, enjoy complimentary insurances and $0 annual fee for the first year.
3 1 $0 p.a. annual fee for the first year ($300 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 September 30th, 2016.

Bankwest Qantas Platinum MasterCard

Interest-free period changed from 55 to 44 days.

June 21st, 2016

Bankwest Qantas Platinum MasterCard

Bonus points and balance transfer offer have been extended until 30 November 2016.

September 28th, 2016

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 $0 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
ANZ Rewards Travel Adventures card
Pay no overseas transaction fee on purchases and 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
Bankwest Qantas Platinum MasterCard
Receive 50,000 introductory bonus Qantas Points when you apply before 30 November 2016. Earn 0.50 rewards points per $1 spent on eligible purchases.
0% of transaction value $0 $160 p.a. Go to site More info
Coles Rewards Mastercard
Earn 2 flybuys point for every $1 spent and no foreign transaction fees for online purchases and overseas trips.
0% of transaction value $4 $89 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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Credit Cards Comparison

Rates last updated September 30th, 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
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 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

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au 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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