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Top Credit Cards*

What you need to consider when looking for your credit card

If you’ve used or compared credit cards in the past you’re probably well aware that they come with different features, and while some basic features remain the same, some can vary significantly. What makes for a top credit card*, as a result, depends on the kind of credit card you’re looking for, which can include features such as a low rate on purchases, a low annual fee, balance transfer offers, frequent flyer and rewards points or platinum privileges.

While the qualities of one card may work for one type of cardholder, it may not be compatible with another user. Consider your own personal circumstances when choosing which card is best for you. This table provides a cross-section of offers on our website to help you with your comparison.

Competitive Credit Card Offers

Rates last updated September 23rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Visa

0% p.a. Balance Transfer for 18 months

A long term balance transfer offer, together with 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
American Express Essential Credit Card
Smartphone Screen Insurance, $0 Annual Fee and 0% Balance Transfer
Receive a $50 credit when you spend $750 on your new card within the first 3 months from card approval and a 0% p.a. balance transfer rate for 12 months. Plus enjoy no annual fee for life.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 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.
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) Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Velocity Frequent Flyer Offer with a Balance Transfer and Bonus Velocity Points
Offering 0% p.a. interest rate on balance transfers for 18 months and earn bonus Velocity Points in the first 3 months.
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
HSBC Platinum Credit Card
Annual Fee Refund
This platinum card caters for those who want high credit limits and personal concierge service. The annual fee is refunded each year when you spend $6,000 on eligible purchases.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
Westpac Low Rate Card

Low Purchase Rate with Long Term Balance Transfer Offer

A credit card with a low credit card fee and long term balance transfer offer of 0% p.a. for 18 months.
1% p.a. for 12 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. Go to site More info
St.George Vertigo Platinum
Low Interest Rate Platinum Card with Long Term Balance Transfer Offer
A platinum card with a low interest rate everyday. Introductory offer on balance transfers for 20 months.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
Citi Qantas Signature Credit Card
70,000 Qantas Bonus Points Offer
Receive 70,000 bonus Qantas Points when you meet the minimum spend and pay a reduced annual fee for the first year.
20.99% p.a. 0% p.a. for 6 months $99 p.a. annual fee for the first year ($395 p.a. thereafter) 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, plus 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. Go to site More info
ME Bank frank Credit Card

No Annual Fee Low Rate Credit Card

A low interest rate credit card that charges no annual fees.
11.99% p.a. $0 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Exclusive Offer to finder.com.au - $200 back
Pay no annual fee for the first year and receive $200 back when you spend $500 in the first 3 months.
19.74% p.a. $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Low Rate Credit Card
Low Balance Transfer Offer
The NAB Low Rate Credit 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. Go to site More info
ANZ First Visa Credit Card
Low Annual Fee and up to interest-free days
Enjoy a low annual fee of $30, interest-free days on purchases and a low minimum credit limit.
19.74% p.a. 0% p.a. for 18 months with 3% balance transfer fee $30 p.a. Go to site More info
Virgin No Annual Fee Credit Card
No Annual Fee with Balance Transfer & Cashback Offer
Enjoy a balance transfer offer of 0% p.a. for 18 month, $100 cashback offer and $0 annual fee for life.
18.99% p.a. 0% p.a. for 18 months with 2% balance transfer fee $0 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Qantas Frequent Flyer Credit Card
The HSBC Platinum Qantas Credit Card offers a competitive earn rate on purchases. Bonus 60,000 Qantas Points offer on eligible spend within 3 months.
19.99% p.a. $199 p.a. Go to site More info
Newcastle Permanent Value+ Credit Card
Low Interest Rate Credit Card
Offering an everyday low interest rate of on purchases, balance transfers and cash advances.
11.49% p.a. $49 p.a. Go to site More info
NAB Low Fee Card
Low Annual Fee Purchase and Balance Transfer Offer
Enjoy a long term balance transfer and purchase rate offer of 0% p.a. for 15 months, for a $30 annual fee.
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. Go to site More info
American Express Explorer Credit Card
100,000 Membership Rewards Bonus Points
Receive 100,000 Membership Rewards Bonus Pointson 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. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card

Low Interest Rate Offer with Balance Transfer Offer

Enjoy a low rate on your everyday purchases with a low balance offer of 0% p.a. for 18 months.
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
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Also 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. Go to site More info

What are some of the credit card types to choose from?
Credit cards can broadly fit into the following categories:

Low rate cards

Low rate credit cards charge a low rate of interest on purchases you make relative to other credit card types. Low rate cards typically offer an interest free period with which to repay the balance of any purchases made.

How do I compare low rate credit cards?

Ask yourself the following if you’re looking for the a low annual fee credit card:

  • What’s the annual fee?Low rate credit cards are your best bet when it comes to paying low ongoing interest, and an easy way to compare these cards is to look at their annual fees.
  • Is there a downside to the low annual fee? 
    To make up for the low annual fee certain cards might not offer features that most credit card users take for granted. Make sure that the card you’re applying for offers interest-free days on purchases, and find out how many interest-free days you can get.
  • Is the low fee ongoing? 
    Certain credit cards offer annual fee waivers for the first year, after which an ongoing annual fee comes into effect. Look for a card that charges little or no ongoing annual fees.
  • What is the interest rate? Watch out for credit cards that try to offset low annual fees with high interest rates. This is not much of a concern if you plan to pay your account’s closing balance in full every month.

Compare Low Rate credit card options

No annual fee and discounted annual fee cards

These include cards that don’t charge any ongoing annual fees and cards that don’t charge annual fees for the first year. No annual fee cards typically charge higher rates on interest on purchases than a typical low rate credit card.

Compare $0 Annual Fee and $0 First Year Annual Fee credit cards

Balance transfer credit cards

These cards come with 0% p.a. or low balance transfer rates for an introductory period. You should be aware that any balance not repaid will incur interest charges at the end of the introductory period. The rate at which the unpaid balance is charged (‘revert rate’) is either set at the purchase or cash advance rate on the card. Determine the revert rate of the card you select when looking to do a balance transfer.

How do I compare balance transfer credit cards?

Balance transfer offers can help you save a tidy sum in the form of interest, but make sure you pay attention to the following aspects at the very onset:

  • What is excluded? 
    Find out if the new card issuer accepts balance transfers from your existing card issuer, because this is not always the case. You should also confirm what percentage of the credit limit can be transferred and calculate whether this works for you.
  • What’s the balance transfer rate
    This refers to the interest transferred balances attract, which can go as low as 0% p.a. The time period these introductory rates stay in place tend to vary.
  • What’s the revert rate?
    At the end of the promotional period, any outstanding balance starts attracting the card’s purchase rate or cash advance rate. Bear in mind that the cash advance rate can be considerably higher than the purchase rate. This aspect is not a concern if you pay the transferred balance in full during the promotional period. Find out more about balance transfer revert rates.
  • Are there other fees? 
    The annual fee you end up paying should not outweigh how much you save through the balance transfer, and account for any balance transfer fees you might have to pay.
  • Initiating the process
    Most credit card issuers that offer balance transfer promotions require new cardholders to initiate the balance transfer process at the time of application, or no later than when they activate their new cards. So make sure you confirm these details before applying to avoid missing out.

Compare Balance Transfer credit card offers

Introductory purchase rate cards

These cards charge 0% p.a. or low interest on purchases for a given time period, giving cardholders the ability to save some money on interest during the introductory period

Compare Introductory Purchase Rate credit card options

Rewards cards

Rewards cards are ones that reward you for your spending in the form of frequent flyer points, vouchers and cashback. Be aware that the annual fees vary and these fees need to be weighed up against the value of the rewards you will earn with the card. Interest rates on purchases are typically charged at a higher rate than a low rate card. If you are not in a position to pay off your balance, consider a low rate credit card instead, as interest charges will be lower.

How do I compare rewards credit cards?

While how you can earn and redeem rewards are important considerations, factors like interest rates and annual fees still need your attention. With respect to rewards cards, pay attention to the following:

  • What’s the earn rate?
    Rewards credit cards come with different earn rates, and this can have a significant effect on how quickly you earn rewards. Some premium cards give you the ability to earn up to three reward points per dollar spent on eligible transactions.
  • Value of reward points
    Establish what a card’s reward points translate to when converted to dollar value. If you, for instance, spend 15,000 reward points to redeem a reward worth $100, and you earned one point for every dollar spent, 150 reward points translate to one dollar.
  • Are the points capped or limited by an expiry date?
    Certain credit cards place limitations on the maximum number of points you can earn each year, and in some instances, your points can expire after a given number of years. This not only depends on the rewards program you’re part of, but also on the card you choose.
  • Redeeming points
    Not all rewards programs offer as much freedom when it comes to redeeming accumulated reward points. Find a rewards card that allows you to choose from travel and shopping rewards as well as a range of merchandise, and you can also look forward to redeeming your points for cashback or transferring them to your frequent flyer program account.
  • Annual fees
    If you’re paying high annual fees, ensure that the rewards you earn make up for the same.

Compare Rewards Credit Cards

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Pros and cons

Each of the different card types represented have their own advantages and disadvantages, so be sure to research the card type to find out more information.

Pros

  • Competitive features. Cards that come with some of the most competitive offers in their respective realms.
  • Low annual fees. They can charge no, low, or discounted annual fees
  • Value. Some provide great value even after the end of promotional offers
  • Variety. You get a variety of card types from which to choose

Cons

  • High income requirements. Platinum and premium cards come with high minimum income requirements
  • Limitations. Many credit cards pose limitations, whether this refers to how you can earn or redeem rewards points or in regards to how much you can balance transfer.
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What should I avoid?

No matter which credit card you use, there are several things you should try to avoid for as long as you continue using the card in question:

  • A card that doesn’t benefit you financially
    If you’re paying high annual fees but aren’t making use of features like rewards and other added benefits, using the card in question does not make financial sense.
  • Overextending yourself
    Overextending your means just to make the most of your card is not a good idea. You should not, for example, increase your spending just to earn more reward points.
  • Carrying a balance
    Carrying an outstanding balance from one billing cycle to the next will have you paying interest, which can add up to a tidy sum over time. This can be a particular problem if your card attracts a high purchase rate.

The Australian credit card industry is awash with options, and when it comes to applying for a new card it’s only natural for people to want what’s ideal for them. The top credit card*, in essence, depends on the specific features you’re after, and once you know what you need, take some time to compare offerings by credit card issuers.

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Frequently Asked Questions

Can I apply for a credit card online?

Leading credit card issuers in Australia accept online applications, and you can apply for the cards listed on this page by clicking on their corresponding ‘Go to Site’ buttons.

How quickly can I get a new credit card?

The entire process, from application to getting your new card upon your application’s approval, can take up to 10 business days.

Can I apply for multiple credit cards at the same time?

You can, but it’s not a good idea. This is because credit applications find a mention on your credit file, and no credit card issuer likes seeing too many applications for credit in a short span of time.

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Was this content helpful to you? No  Yes
American Express Essential Credit Card
American Express Essential Credit Card

Interest rate

14.99

Annual fee

0
More info
ME Bank frank Credit Card
ME Bank frank Credit Card

Interest rate

11.99

Annual fee

0
More info
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

149
More info
ANZ First Visa Credit Card - Exclusive Offer
ANZ First Visa Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

30
More info
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7 Responses to Top Credit Cards*

  1. Default Gravatar
    eve | December 11, 2015

    I want a credit card will 0 interest and 0 cost per year

    • Staff
      Sally | December 14, 2015

      Hello Eve,

      Thanks for getting in touch.

      You can compare credit cards with no annual fee and 0% interest rates here.

      I hope this has helped.

      Cheers,

      Sally

    • Staff
      Ysa | December 14, 2015

      Hi Eve,

      Thanks for your inquiry.
      Please note that you have come through finder.com.au, an online comparison service, and is not in the position to recommend any specific products, providers and services.
      However, you may wish to compare your options on these pages for 0% Purchase Credit Cards and No Annual Fee Credit Cards.
      I hope this helps.

      Cheers,
      Ysa

  2. Default Gravatar
    | November 6, 2014

    Hello,
    I signed up to a Citibank platinum visa card when I was working on an on going line of credit. However,last year I was placed on Disability Pension due to an accident. Now I find that the overall annual fee, cash advance,Purchase fee and a number of other fee is impractical to continue with it. Have tried many banks trying to change to a lower overall fees but so far haven’t found any bank to give me a fair go. What do you recommend I do or which bank do you recommend that will help people in my situation who haven’t missed a payment, get a low rate/low fee visa card.
    Regards, Tony

    • Staff
      Elizabeth | November 7, 2014

      Hi Tony,

      Thanks for your question.

      You can compare a range of low and no annual fee credit cards on this page, and low rate credit cards on this page. These type of cards may better suit your situation. Be sure to check the minimum income requirements before you apply to help your chances of being approved.

      I hope this has helped.

      Thanks,

      Elizabeth

  3. Default Gravatar
    | October 10, 2014

    Hello,

    I want a low interest credit card that I can use for overseas purchases and travelling. Can you please recommend one?

    • Staff
      Elizabeth | October 10, 2014

      Hi Kate,

      Thanks for your question.

      Unfortunately I’m unable to recommend a specific credit card for you. The right credit card will depend on your financial situation and needs, but we have a page where you can compare a range of travel credit cards. You can sort the cards on the table by interest rate and find the ones with the lowest interest, then choose the one that best suits your needs.

      Hope this has helped.

      Thanks,

      Elizabeth

Credit Cards Comparison

Rates last updated September 23rd, 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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