Cheap Credit Cards

Get your finances into shape with a cheap card featuring low interest rates on purchases, cheap balance transfers and low annual fees.

77 reviews
$100 off a single Coles Supermarket Shop if you apply and are approved by 31st Dec 2017 and make a purchase within 30 days. (t&c’s apply).
Earn 1 flybuys point for every $2 spent – everywhere, everyday.
No annual fee to pay, ever.

The banks offer many credit card deals to attract customers in an increasingly competitive market. In reality there is no single cheapest credit card – what works out cheapest for you depends on how you use your card and your spending habits. Use our free and easy comparison service to find the cheapest deal for you, apply online today and start enjoying your new card’s cheaper interest rates without delay.

My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
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balance transfer
purchase rate
annual fee
Money saved
Coles No Annual Fee Mastercard
Apply by 31 dec 17
77 reviews
$100 off a single Coles Supermarket Shop if you apply and are approved by 31st Dec 2017 and make a purchase within 30 days. (t&c’s apply).
Earn 1 flybuys point for every $2 spent – everywhere, everyday.
No annual fee to pay, ever.
More info
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6 months
0% p.a.
then 19.99%
19.99% p.a.
ongoing
$0
ongoing
NEW
St.George Vertigo Platinum Credit Card Exclusive Offer
Apply by 14 jan 18
0% p.a. for 24 months on balance transfers with no balance transfer fee. Reverts to cash advance rate.
$0 p.a. annual fee for the first year (save $99).
Complimentary insurance for overseas travel for 6 months.
More info
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24 months
0% p.a.
then 21.49%
12.74% p.a.
ongoing
$0
1st year
then $99
Westpac Low Rate Credit Card Exclusive Offer
Apply by 31 jan 18
0% p.a. for 24 months on balance transfers. (2% balance transfer fee applies). Reverts to variable cash advance rate.
An annual fee of $59.
Up to 55 days on purchases
More info
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24 months
0% p.a.
then 21.49%
with a 2% fee
13.49% p.a.
ongoing
$59
ongoing
No international transaction fees on purchases.
No currency conversion fees.
$0 p.a. annual fee.
More info
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-
21.99% p.a.
ongoing
$0
ongoing
The American Express Essential® Credit Card
5 reviews
$0 p.a. annual fee.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone (Conditions apply)
Eligible for use with Android Pay, Apple Pay and Samsung Pay.
More info
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12 months
0% p.a.
then 14.99%
with a 3% fee
14.99% p.a.
ongoing
$0
ongoing
0% p.a. for 6 months on purchases.
Make purchases with NAB’s lowest interest rate card and longest interest-free period.
Low $59 p.a. annual fee.
More info
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6 months
4.99% p.a.
then 21.74%
6 months
0% p.a.
then 13.99%
$59
ongoing
Coles Low Rate Mastercard
Apply by 31 dec 17
24 reviews
$100 off a single Coles Supermarket Shop if you apply and are approved by 31st Dec 2017 and make a purchase within 30 days. (t&c’s apply).
Low ongoing purchase rate of 12.99% p.a.
Low annual fee of $58 p.a.
More info
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6 months
0% p.a.
then 12.99%
12.99% p.a.
ongoing
$58
ongoing
Citi Simplicity Card
Apply by 31 jan 18
No annual fee.
Enjoy up to $50 cash back: 5% cash back on all retail purchases (up to $1000 spend) in the first 90 days from approval.
0% p.a. for 15 months on balance transfers. (1.5% BT fee applies).
More info
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15 months
0% p.a.
then 19.99%
with a 1.5% fee
19.99% p.a.
ongoing
$0
ongoing
NAB Low Rate Platinum Card
0% p.a. for 9 months on purchases.
Platinum Concierge Service plus seven complimentary travel insurances.
Up to 55 days on purchases.
More info
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6 months
4.99% p.a.
then 21.74%
9 months
0% p.a.
then 13.99%
$100
ongoing
Enjoy $100 back when you spend $500 on eligible purchases in the first 60 days of approval.
Low 12.49% p.a. ongoing rate on purchases.
Low annual fee of $58 p.a.
More info
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-
12.49% p.a.
ongoing
$58
ongoing
Westpac Lite Card
Low ongoing purchase rate of 9.90% p.a.
Keep your credit under control with credit limits between $500 and $4,000.
No fees for foreign transactions or missed payments.
More info
Add to comparison
-
9.90% p.a.
ongoing
$108
ongoing
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Q&As about Cheap Credit Cards from customers

Q: So, how do I know what card to get?

This entirely depends on how you use your credit card and manage your finances, so knowing what type of cardholder you are is important when selecting the cheapest deal.

If you always pay your monthly balance in full and don’t want a rewards scheme or other extras, one with no annual fee could be the best choice. You should also look for a card with an interest free period, giving you the most time to repay the monthly balance. No annual fee credit cards often have a higher interest rate, but if you always clear the monthly bill you can avoid paying both the interest and a yearly charge, keeping your credit card costs very low.

If you are likely to have an ongoing balance on your account, even occasionally, you should look for a credit card with a low purchase rate. Many credit cards offer an introductory low purchase rate, making it cheap to use them for the initial period, but you should check that the rate isn’t too high at the end of the promotion. Low interest rate credit cards sometimes attract a higher annual fee – make sure this isn’t so large that it negates the savings on the interest rate.

If you have a debt attracting interest on an existing credit card that you want to try to clear, a deal with the option for a low rate balance transfer could work out cheapest for you. With a balance transfer you move the debt to a new card from a different bank and pay at a lower rate of interest – often 0% – for an introductory period. The rate increases at the end of the promotion, and other fees and rates may be higher than on other cards, but used wisely balance transfers can be a good way of improving your finances and making it cheaper to own a credit card.

Once you have established what type of cardholder you are it makes it much easier to use the features of our website to study the features, rates, fees and special offers and find the cheapest deal.

Q: What about rewards programs?

Cheap credit cards tend to be quite basic with few extras, but it is still possible to find reasonably priced credit cards with a rewards scheme if this is an important feature for you. In fact, if you shop often with particular shops or companies and can find a program that fits in with your spending, a rewards scheme could actually save you money in the long run.

You need to be careful though – the cost of the rewards scheme is usually covered by an annual fee and higher interest rate, so you need to ensure any savings you are making are not wiped out by these extra costs.

Another type of reward worth considering is cash back, with which money is paid back into your account when you spend on your credit card. This can be a way to save money on your spending, making it cheaper to use your card, but again you need to watch out that the other fees and rates don’t negate the benefits.

Q: What are the main features I should compare?

Once you know which type of card you are looking for, it’s time to examine the features of each individual deal to find the cheapest one for you.

Purchase rate: This is the interest rate applied to the balance on your credit card account, so it’s very important when comparing deals, especially if you don’t always clear your monthly balance in full.

Annual fee: The annual charge pays for the maintenance of your credit card and any extras including rewards schemes and insurance policies. The annual fee should not out-weigh the savings you make on the card’s other features such as a low purchase rate. If you always pay your monthly balance in full, however, a card with no annual fee could be the cheapest choice for you.

Introductory offers: Many deals feature a special offer of low rate balance transfer, low purchase rate, or a combination of the two for a promotional period, making it much cheaper to use your credit card. If there is a special offer on the card you are considering applying for, make sure the other features don’t negate the savings you make, and be aware of how the deal changes when the promotion ends.

Q: I’ve found a good card, how do I apply for it?

Once you have found the card you want, simply click the ‘Application’ button and start the simple and secure online application process. With many banks you should get a preliminary decision almost immediately, and if approved receive your new card in the post a few days later.

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