The Best Credit Card In Australia
Posted April 27th, 2010What is the best credit card in Australia?
To find the answer, we went through research conducted by Money Magazine, one of the most respected financial publications in Australia. They have ranked credit cards by feature in order to find the best credit card in Australia.
Money Magazine Cheapest Credit Card for 2010
The Bankwest Breeze MasterCard has the lowest purchase rate out of all Australian MasterCards. You can also take advantage of the low interest rate on balance transfers, using that time to repay your balance off sooner, at a lower interest rate.
- $69 annual fee
- 10.99% p.a. on purchases
- 4.99% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.99% p.a.
- 55 days interest free
- Minimum Income Requirement of $20,000 p.a.
Best rewards credit card
When it comes to the best rewards credit card in Australia, Westpac leads the way. It offers the top three rewards credit cards available at the moment – the Altitude Platinum Rewards Amex, the Altitude Rewards Amex and the Altitude Gold Rewards Amex. All three cards offer rewards worth $250 (annually) based on a spending of $2000 per month.
Best transactor credit cards
These cards are the best credit card in Australia for consumers who pay off their cards in full each month. For such cardholders, the most important feature is the number of interest-free days and the annual fee.
The top credit cards in this category offer $0 annual fees, which means that consumers who pay off their balance in full do not have to pay anything extra to use their credit cards.
The top three bank credit cards in this category are the Bankwest Zero MasterCard, the HSBC credit card and the NAB Low Rate Visa card. The best non-bank cards in this category are the GE Money credit card, the Savings and Loans CU Visa Care Card and the GE Money Myer Visa card. Overall, the GE Money credit card is the best card in this category.
Cheapest credit cards
If you struggle to pay off your credit card balance each month, then you will be interested in this category. The cheapest credit cards offer low interest rates and most do not even have an annual fee.
The top three bank cards in this category are:
- Bankwest Breeze MasterCard which has an annual interest rate of 10.99% p.a.%
- ME Bank MasterCard which has an interest rate of 10.99% and
- Bendigo Bank Basic Black card which has an interest rate of 10.99% p.a
These three cards do charge annual fees, ranging from $39 to $59.
The top two non-bank credit cards in this category are the Satisfac CU Visa S10, with an interest rate of 10.24% and annual fee of $10 and the Heritage BS Visa Gold NF card, with an interest rate of 10.75% and no annual fee.
As you can see, there are a number of great credit cards available at the moment – you simply need to pick the card that best suits your needs.
Check out today's featured offers:
| Westpac Low Rate | Citibank Clear Platinum | Qantas AMEX Discovery | ANZ Platinum |
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0% p.a. for 6 months on purchases & balance transfers |
2.9% p.a. for 12 months |
$0 annual fee Up to 10,000 Bonus QFF Points |
0% p.a. for 6 months on purchases & balance transfers |
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