Credit Cards for Good Credit Rating

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.

0% p.a. on balances transferred for 22 months, with no balance transfer fee.
$129 p.a. annual fee which is refundable each year when you spend $6,000 on eligible purchases.*
Earn 2 pts per $1 spent on overseas purchases.
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HSBC Platinum Credit Card Balance Transfer Offer
Apply by 30 sep 19
Application
on HSBC's website

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
annual fee
purchase rate
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Qantas Premier Platinum Credit Card
Apply by 31 oct 19
Receive up to 120,000 bonus Qantas Points when you spend at least $1,500 each month for the first 6 months.
Reduced annual fee of $199 p.a. in the first year ($299 p.a. thereafter).
0% p.a. for 18 months on balance transfers.
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Qantas Frequent Flyer
Qantas Frequent Flyer
$199
1st year
then $299
19.99% p.a.
ongoing
HSBC Platinum Credit Card Balance Transfer Offer
Apply by 30 sep 19
0% p.a. on balances transferred for 22 months, with no balance transfer fee.
$129 p.a. annual fee which is refundable each year when you spend $6,000 on eligible purchases.*
Earn 2 pts per $1 spent on overseas purchases.
More info
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Rewards Plus
Rewards Plus
$129
ongoing
19.99% p.a.
ongoing
American Express David Jones Credit Card
Apply by 28 aug 19
14 reviews
Receive 45,000 Membership Rewards points or 22,500 Qantas Points when you apply by 28 August 2019, are approved and spend $1,500 outside of David Jones within the first 3 months of becoming a Card Member.
Earn up to 3 Reward Points per $1 spent at major supermarkets and petrol stations, 2 Reward Points per $1 spent at David Jones, and 1 Reward Point per $1 spent elsewhere.
Flexibility to choose Qantas Frequent Flyer or Membership Rewards as your rewards program.
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Membership RewardsQantas Frequent Flyer
Membership Rewards or Qantas Frequent Flyer
$99
ongoing
20.74% p.a.
ongoing
Suncorp Clear Options Platinum Credit Card
Apply by 31 aug 19
3 reviews
Receive up to 60,000 Bonus Reward Points when you spend $1,500 each month for six months from card approval.
0% p.a. on balance transfers for 18 months..
$49 annual fee for the first year.
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Qantas Frequent FlyerSuncorp Rewards
Suncorp Rewards or Qantas Frequent Flyer
$49
1st year
then $129
20.74% p.a.
ongoing
Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 within the first 3 months. This offer is available to new Card Members only.
Earn 1.25 Velocity Points per $1 spent, except government bodies where you will earn 0.5 Velocity Points per $1 spent.
A complimentary domestic return flight every year with travel insurance and entry into Virgin Australia Lounges.
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Velocity Frequent Flyer
Velocity Frequent Flyer
$375
ongoing
20.74% p.a.
ongoing
American Express David Jones Platinum Credit Card
Apply by 28 aug 19
1 review
Receive 75,000 Membership Rewards points or 37,500 Qantas Points when you apply by 28 August 2019, are approved and spend $1,500 outside of David Jones within the first 3 months of becoming a Card Member.
Earn 4 Reward Points per $1 spent at David Jones, 3 Reward Points per $1 spent at major supermarkets and petrol stations and 1 Reward Point per $1 spent elsewhere.
Flexibility to choose Qantas Frequent Flyer or Membership Rewards as your rewards program.
More info
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Membership RewardsQantas Frequent Flyer
Membership Rewards or Qantas Frequent Flyer
$295
ongoing
20.74% p.a.
ongoing
Transfer your other banks’ credit card balances and enjoy 0% p.a. for 14 months (reverts to cash advance rate) with no balance transfer fee.
Get additional savings with its $0 annual fee for the first year offer ($99 p.a. thereafter).
Take advantage of the promotional purchase rate of 12.99% p.a..
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$0
1st year
then $99
12.99% p.a.
ongoing
Citi Rewards Classic Credit Card
Apply by 31 dec 19
6 reviews
0% p.a. for 15 months on balance transfers (1.5% BT fee applies).
Enjoy up to $50 cashback, 5% cashback on all retail purchases (up to $1,000 spend) in the first 90 days from account approval.
Low annual fee of $49 p.a. in the first year ($99 p.a. thereafter).
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Citi Rewards
Citi Rewards
$49
1st year
then $99
20.99% p.a.
ongoing
Emirates Citi World Mastercard
Apply by 31 dec 19
4 reviews
Earn up to 60,000 Skyward Miles (Spend criteria applies).
One complimentary chauffeur-drive service per year to and from the airport when flying Emirates.
2 x lounge passes for you and a guest for any Emirates Lounge in Australia.
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Emirates Skywards
Emirates Skywards
$149
1st year
then $299
20.99% p.a.
ongoing
Virgin Money Low Rate Credit Card
Apply by 31 aug 19
4 reviews
Low interest rate of 11.99% p.a.
10% cashback (capped at $100 total) on spend in the first 3 months from card approval.
0% p.a. for 14 months on balance transfers (reverts to cash advance rate). No balance transfer fee.
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-
$49
ongoing
11.99% p.a.
ongoing
Westpac Altitude Black Credit Card
Apply by 15 oct 19
39 reviews
80,000 bonus Qantas or Altitude points when you spend $4,000 on eligible purchases within 90 days of card approval. Exclusions apply. Qantas rewards fee applies.
2 complimentary passes per year to use at over 700 VIP Priority Pass airport lounges worldwide.
24/7 Altitude Black Card Priority Service line.
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Altitude RewardsQantas Frequent Flyer
Altitude Rewards or Qantas Frequent Flyer
$300*
ongoing
20.49% 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 Credit Card Compare 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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