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.

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 Google Pay™, Apple Pay and Samsung 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
annual fee
purchase rate
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$0 p.a. annual fee.
One low 11.99% p.a. rate on purchases.
Up to 55 days on purchases if you pay your balance in full each month.
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$0
ongoing
11.99% p.a.
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$0 p.a. annual fee.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone.(Conditions apply)
Point redemption rates will change as of 15 April 2019. Please go to bit.ly/rwd415 for more details
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Membership Rewards Gateway
Membership Rewards Gateway
$0
ongoing
14.99% p.a.
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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 1.75 Qantas points per $1 spent on Qantas flights, goods, and services.
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Qantas Frequent Flyer
Qantas Frequent Flyer
$0
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20.74% p.a.
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HSBC Platinum Credit Card
Apply by 31 dec 18
14 reviews
0% p.a. on balances transferred for 22 months, with a 2% 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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Rewards Plus
Rewards Plus
$129
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19.99% p.a.
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No annual card fee to pay each year.
Base earn rate is 0.75 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
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20.74% p.a.
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Get 55,000 bonus Qantas Points when you apply online, are approved and spend $3,000 in 3 months.
Earn 1.25 pts per $1 spent on card purchases.
$450 Qantas Travel Credit each year. (Conditions Apply)
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Qantas Frequent Flyer
Qantas Frequent Flyer
$450
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20.74% p.a.
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Receive 20,000 points or 15,000 Qantas Points. (Conditions Apply)
Earn up to 3 points per $1 spent at major supermarkets and petrol stations, 2 points per $1 spent at David Jones, and 1 point per $1 spent elsewhere.
Flexibility to choose Qantas Frequent Flyer points or Membership Rewards points.
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Membership RewardsQantas Frequent Flyer
Membership Rewards or Qantas Frequent Flyer
$99
ongoing
20.74% p.a.
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Receive 40,000 points or 30,000 Qantas Points when you apply. (Conditions Apply)
Earn either Membership Rewards or Qantas Frequent Flyer as your rewards program.
Earn up to 4 points per $1 at David Jones, 3 points per $1 at major supermarkets and petrol stations and 1 point per $1 spent elsewhere.
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Membership RewardsQantas Frequent Flyer
Membership Rewards or Qantas Frequent Flyer
$295
ongoing
20.74% p.a.
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No foreign transaction fees on purchases when travelling or shopping online.
No currency conversion fees.
$0 p.a. annual fee.
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$0
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21.99% p.a.
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Skye Mastercard
90 days interest free on all card purchases.
No annual fee for the first year ($99 p.a. thereafter).
No foreign transaction fees for online and overseas purchases.
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$0
1st year
then $99
23.99% p.a.
ongoing
Citi Clear Platinum Credit Card
Apply by 31 mar 19
16 reviews
0% p.a. for 14 months on balance transfers with no balance transfer fee.
No annual fee for the first year ($99 p.a. thereafter).
Enjoy a low purchase rate of 12.99% p.a.
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CitiWorld Privileges
CitiWorld Privileges
$0
1st year
then $99
12.99% p.a.
ongoing
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Q&A's 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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