Top Five Credit Card Providers in Australia*

Information verified correct on September 27th, 2016
a number of credit cards on the floor

Who Are The Best Providers* in Australia?

With so many credit cards available in Australia you should probably know who the top* five credit card providers* are and a little bit about their products. Australia is one of the most competitive and profitable credit card markets in the world. That makes sense considering there are almost 15 million credit cards in use here. There are lots of providers, it could make your head spin trying to get to know them all, so learning about the top* five is a good place to start. Market share is based on the loans and advances on credit cards in Australia issued by banks.

Top Five Australian Credit Card Providers*

Commonwealth

  • Commonwealth has an average 23% percent market share for household lending.
  • This bank was founded in 1912 and is one of the most noted financial institutions in Australia.
  • They have over 780,000 shareholders and employ 38,000 people
  • Commonwealth has a market share of nearly 25% of the credit card market.
  • They offer a range of credit cards from low rate to low fee and rewards cards.
  • The Commonwealth credit card rewards program is has a good range of cards that will reward you for everyday spending.

Commonwealth Bank Credit Cards

ANZ

  • ANZ has a 20% market share
  • ANZ began as the Bank of Australasia in 1835 in Sydney and in 1838 in Melbourne.
  • They remain one of the largest companies in Australia and New Zealand.
  • ANZ ranks in the top* fifty banks in the world.
  • ANZ has consistently received recognition for having the best customer satisfaction.

ANZ Credit Cards

Westpac

  • Westpac has a 23% market share
  • Westpac was Australia’s first bank. The bank started in 1817 as the Bank of New South Wales.
  • Their name changed to Westpac in 1982 after they purchased the Commercial Bank of Australia
  • Westpac is a great credit card provider with many card choices. These include low annual fee, Gold, Platinum, and balance transfer cards.
  • They are known for their Altitude.

Westpac Credit Cards

NAB

  • NAB has a 14% market share.
  • NAB began in 1893 as the National Bank of Australasia Limited.
  • In 1981 it merged with The Commercial Banking Company of Sydney Limited and began being called the National Australia Bank or NAB.
  • They are the 17th largest bank in the world according to market capitalisation standards.
  • Credit cards offered by NAB include a rewards card through Velocity and Qantas.

NAB Credit Cards

Citibank

  • Citibank has a 10% market share.
  • Citibank is part of the worldwide Citi group and is relatively new to the Australian market.
  • They claim to have plans to end the domination of the big four banks previously listed here.
  • They offer a wide range of personal and business credit cards as well as access to the much applauded Citi Rewards program.

Citibank Credit Cards

Credit card providers come in many different shapes and sizes. It pays to know a little bit about each company before you decide which bank to give your valuable business.

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6 Responses to Top Five Credit Card Providers in Australia*

  1. Default Gravatar
    Michael | March 27, 2015

    What about a bank like HSBC – what is their market share?

    • Staff
      Jonathan | March 27, 2015

      Hi Michael, thanks for your inquiry!

      HSBC’s market share varies depending on the type of financial product and market you are comparing it in. Was there a specific product you were inquiring about with HSBC?

      Cheers,

      Jonathan

    • Default Gravatar
      Michael | March 28, 2015

      I was referring to HSBC’s market share in Australia for credit cards

    • Staff
      Jonathan | March 30, 2015

      Hi Michael, thanks for your response.

      As of January 2015 the market share of HSBC for loans and advances on credit cards is 2%.

      Cheers,

      Jonathan

  2. Default Gravatar
    Victoria | May 30, 2014

    In your article “Top Five Credit Card Providers in Australia”

    You estimated market share of the top five in credit cards. Is this share related to transactions, value spend or number of cards issued?

    • Staff
      Shirley | June 2, 2014

      Hi Victoria,

      Thanks for your question.

      This is in relation to the value spend of cards issued, or rather the accounts receivable portion of the provider.

      Cheers,
      Shirley

Credit Cards Comparison

Rates last updated September 27th, 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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