Good Credit Rating Credit Cards

Compare credit cards suitable for people with a good credit rating, excellent credit rating or no history of bad credit.

14 reviews
0% p.a. on balances transferred for 22 months, with a 2% balance transfer fee.
Annual fee refunded – a potential saving of $129 a year (conditions apply)
Earn 2 pts per $1 spent on overseas purchases.
Comes with Apple Pay.

As part of the credit criteria for approval many cards require new cardholders to have a good credit rating or at least have no history of bad credit. The more high-end the credit card, the better your credit rating will need to be.

rewards program
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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.
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Membership Rewards Gateway
Membership Rewards Gateway
$0
ongoing
14.99% p.a.
ongoing
American Express Business Explorer Credit Card
Apply by 31 jan 18
Receive 100,000 points when you apply by 31st Jan 2018, are approved and spend $3,000 on your card within the first 3 months.
Earn 50,000 business loyalty bonus points when you spend $100,000 every 12 months from the card approval date.
Enjoy up to two entries per year to the American Express Lounge.
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Membership Rewards Gateway
Membership Rewards Gateway
$395
ongoing
16.99% p.a.
ongoing
Receive 50,000 points when you apply online, are approved and spend $1,500 on your card within the first 3 months.
Receive a $400 Travel Credit each year towards any flights, hotels and car hire when you book online with this card.
Enjoy up to two entries per year to the American Express Lounge.
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Membership Rewards Gateway
Membership Rewards Gateway
$395
ongoing
20.74% p.a.
ongoing
40,000 points when you spend $500 on eligible purchases in the first 3 months of approval.
One complimentary return domestic flight, each year until your card is cancelled. Conditions Apply. ^
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ANZ Rewards
ANZ Rewards
$225
ongoing
20.24% p.a.
ongoing
Citi Rewards Platinum Card Balance Transfer Offer
Apply by 31 jan 18
0% p.a. for 24 months on balance transfers.
One-off 1.5% balance transfer fee applies.
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
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Citi Rewards
Citi Rewards
$49
1st year
then $149
20.99% p.a.
ongoing
Citi Rewards Platinum Card Points Offer
Apply by 31 jan 18
Receive 100,000 points when you spend $3,000 in 90 days from card approval.
0% p.a. for 15 months on balance transfers.
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
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Citi Rewards
Citi Rewards
$49
1st year
then $149
20.99% p.a.
ongoing
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%.
Pay no annual card fee.
Earn up to 2 Qantas points per $1 spent on Qantas flights, goods, and services.
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Qantas Frequent Flyer
Qantas Frequent Flyer
$0
ongoing
20.74% p.a.
ongoing
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%.
Start your holiday with a $200 Travel Credit every year.
Range of travel insurances including overseas medical emergency expenses, travel cancellation cover and more.
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Membership Rewards
Membership Rewards
$195
ongoing
20.74% p.a.
ongoing
75,000 points when you spend $2,500 in 3 months.
$0 p.a. annual fee for the first year.
75 Bonus Status Credits when you buy and fly return with Qantas by 31st May 2018.
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Qantas Frequent Flyer
Qantas Frequent Flyer
$0
1st year
then $425
19.99% p.a.
ongoing
No annual card fee to pay each year.
Base earn rate is 1 pt per $1 spent. Get an additional 1 point per $1 when spending with Virgin Australia.
0% p.a. for 12 months for balance transfers and a one-off credit plan establishment fee of 1%.
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Velocity Frequent Flyer
Velocity Frequent Flyer
$0
ongoing
20.74% p.a.
ongoing
Get 55,000 bonus Qantas Points when you apply online, are approved and spend $1,500 in 3 months.
Earn 1.5 pts per $1 spent on card purchases.
Complimentary domestic and overseas travel insurance.
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Qantas Frequent Flyer
Qantas Frequent Flyer
$450
ongoing
20.74% p.a.
ongoing
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Q&As about Credit Cards for Good Credit Rating from customers

Q: What is a credit rating or credit score?

The record of all of your credit activity (credit cards, loans, utility bills) is compiled together into a credit report which indicates your creditworthiness – the better you are at handling credit, the higher you score. It helps credit card lenders to responsibly approve applications.

As of 2014 Australia’s credit reporting system is a ‘comprehensive’ system which means your history of compliance and non-compliance are reported and brought into consideration. Part of the credit reporting process will be to look at your repayment history, which is great if you consistently pay your credit card on time but not so good if you don’t make payments on time.

Q: How can I find out my credit rating?

You can get your credit report for free from the credit reporting agencies: Veda, Dun & Bradstreet or Experian. The free copy of your report typically does not give you a credit score or indication of your credit rating and it takes several days. For full and immediate access to your credit report involves a cost.

Q: How do banks use my credit rating when deciding to approve a credit card application?

Two main parts of the credit card approval process is verifying your identity and fully assessing your financial profile which involves looking at your credit report/score. Your capacity to repay the credit limit of your new card is also taken into consideration.

Q: What if I have good credit but don’t meet the rest of the approval criteria?

Generally, if you have a good credit score then you should be okay. However, scenarios arise where people with good credit scores can have credit applications declined. For example, banks can see how much credit you’ve got open with other banks so if approving your application would mean you would struggle to repay your new credit limit then you may be declined.

Q: How can I improve my credit rating?

You can boost your credit score by doing of different things. A few basic tips that will help include have a credit card, pay if off on time and don’t max it out. Don’t apply for multiple credit cards on a trial basis. Demonstrate stability by not changing jobs or residential address too often. Show discipline by successfully manage different types of credit contracts (electric bills and mobile phone plans count). There’s much more that can be said about this which you can find on our blog.

Q: Can I improve my credit rating by becoming an additional cardholder?

No, unfortunately this is not an option for credit card holders in Australia. Becoming an additional card holder on someone else’s credit card will not any bearing on your credit report. Only the primary card holder interacts with the credit reporting system.

Q: Will I be rewarded with a lower interest rate for having a good credit score?

Typically the answer is no. However, this is another area of potential innovation for new credit card offers – so watch out.

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