Best Credit Cards*

Compare a selection of the best credit cards* with 0% balance transfers, low rates, no fees and awesome rewards.

By   |   Verified by David Boyd   |   Updated 16 Jul 2024

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Comparing of the best credit cards

American Express Explorer Credit Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$395.00 p.a. ongoing

Highlights

  • Obtain 50,000 Bonus Membership Rewards Points upon application approval and spending $4,000 on your new Card within the initial 3 months. T&Cs apply. Exclusive to New Amex Card Members.
  • Enjoy a $400 Travel Credit annually for flights, hotels, and car rentals when booked online using this card.
  • Benefit from complimentary domestic and international travel insurance coverage.

Pros

  • The 50,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • Receive a $400 travel credit every year.
  • Earn 2 Membership Rewards points per $1 spent on purchases except for government bodies in Australia where you will earn 1 point per $1 spent (uncapped).
  • Get two complimentary entries per year to The Centurion® Lounge.

Cons

  • The $395 p.a. annual fee.
Bankwest Breeze Mastercard

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

12 months at 0% p.a.

Annual fee

$49.00 p.a. ongoing

Highlights

  • Benefit from 0% p.a. interest on balance transfers for 12 months (with a 2% BT fee, then 12.99% p.a.).
  • 0% p.a. for 12 months on purchases (returning to 12.99% p.a.).
  • Enjoy up to 55 interest-free days on purchases.
  • Exclusive offer for new customers for a limited time. Additional charges, as well as terms and conditions, apply.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • 0% p.a. for 12 months on purchases.
  • Up to 55 interest-free days on purchases.

Cons

  • There are no rewards on this card.
  • There is a 2% BT fee.
American Express Platinum Edge Credit Card

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • No annual fee in the initial year, saving you $195.
  • Accrue 3 Membership Rewards points for every $1 spent at major supermarkets and petrol stations.
  • Access $200 allocated for annual travel expenses, applicable towards eligible flights, hotels, or car rentals when booked through American Express Travel.

Pros

  • $0 annual fee in the first year, saving you $195.
  • Receive $200 to spend on eligible domestic and international flights, hotels, or car hire with American Express Travel.
  • Smartphone Screen Cover for smartphone screen repairs up to $500.

Cons

  • The ongoing purchase rate of 23.99%.
Bankwest Breeze Platinum Mastercard

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

12 months at 0% p.a.

Annual fee

$69.00 p.a. ongoing

Highlights

  • Experience 0% p.a. interest on balance transfers for 12 months (with a 2% BT fee, then 12.99% p.a.).
  • 0% p.a. for 12 months on purchases (reverting to 12.99% p.a.).
  • Benefit from up to 55 interest-free days.
  • Offer exclusively for new customers within a specified period. Additional charges, along with terms and conditions, apply.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • 0% p.a. for 12 months on purchases.
  • No foreign transaction fees. Plus, complimentary overseas travel insurance for you and your family.

Cons

  • There is no rewards program on this card.
  • There is a 2% BT fee.
American Express Platinum Card

Balance transfer

N/A

Purchase rate

N/A

Annual fee

$1,450.00 p.a. ongoing

Highlights

  • Acquire 200,000 Bonus Membership Rewards Points by applying online, getting approved, and spending $5,000 on your new Card within the initial 3 months. T&Cs apply. Exclusive to New Amex Card Members.
  • Utilize a $450 Platinum Travel Credit annually for flight, hotel, or car rental bookings.
  • Indulge in up to $400 per calendar year when dining at a curated selection of over 1,400 hand-picked restaurants, both domestically and internationally. Terms and Conditions apply.

Pros

  • Receive 200,000 Bonus Membership Rewards Points when you meet the criteria.
  • Receive a $450 Platinum Travel Credit each year.
  • Enjoy up to $400 Global Dining Credit per calendar year.
  • Access to more than 1,400 lounges globally, including The Centurion® Lounge.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.

Cons

  • The annual fee of $1,450.
Bankwest Zero Platinum Mastercard

On website

Balance transfer

28 months at 0% p.a.

Purchase rate

14.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Annual fee waived.
  • 0% p.a. interest for 28 months on transferred balances (with a 3% balance transfer fee). Returns to 14.99% p.a. thereafter.
  • No charges for foreign transactions.
  • Offer valid for new customers within a specified timeframe. Additional fees and terms and conditions apply.

Pros

  • No annual fee to pay — ever.
  • Very long interest-free balance transfer offer.
  • No fees on purchases in a foreign currency.

Cons

  • There is a 3% fee on balance transfers.
  • You can't earn rewards points.
American Express Platinum Business Card

Balance transfer

N/A

Purchase rate

N/A

Annual fee

$1,750.00 p.a. ongoing

Highlights

  • Obtain 350,000 bonus Membership Rewards points by applying before 5 November 2024, getting approved, and spending $12,000 on your card within the initial 3 months. Exclusive to New American Express Card Members.
  • Earn up to 2.25 pts per $1 spent.
  • Enjoy exclusive Platinum travel, experience, and dining privileges.

Pros

  • The offer of 350,000 bonus Membership Rewards points when you meet the criteria.
  • Earn up to 2.25 pts per $1 spent and 1 point per $1 spent at the ATO.
  • Access to more than 1,400 lounges globally, including The Centurion® Lounge.
  • Gold status match at Marriott Bonvoy, Hilton Honors, and Premium status at Radisson Hotel Group.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.

Cons

  • The annual fee of $1,750 p.a.
  • Since this is a charge card, the balance must be cleared every statement.
  • No balance transfer facility.
Bankwest Zero Mastercard

On website

Balance transfer

28 months at 0% p.a.

Purchase rate

14.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Avoid annual fees for the duration of card ownership.
  • 0% p.a. for 28 months on transferred balances (with a 3% balance transfer fee). Returns to 14.99% p.a. thereafter.
  • Enjoy up to 55 days interest-free on purchases.
  • Offer exclusive to new customers for a limited time. Additional fees and charges, as well as terms and conditions, apply.

Pros

  • There is no annual fee for as long as you keep the card.
  • The current balance transfer offer is extremely competitive.
  • Interest on purchases is comparatively low.

Cons

  • Balance transfers incur a one-off fee.
  • You cannot earn credit card points.
Westpac Low Rate Cashback Credit Card

On website

Balance transfer

N/A

Purchase rate

13.74% p.a. ongoing

Annual fee

$59.00 p.a. ongoing

Highlights

  • Get up to $350 cashback when you apply online by 31 July 2024. Receive a $50 cashback monthly for spending over $1,000 in the first 7 statement periods.
  • Enjoy a low ongoing 13.74% p.a. interest rate on purchases.
  • Annual fee of $59 p.a. applies.

Pros

  • Get up to $350 cashback when you meet the criteria.
  • Low 13.74% p.a. interest rate on purchases.
  • 55 days interest-free on purchases.
  • $500 minimum credit limit.

Cons

  • No rewards program although there is a cashback offer.
  • No complimentary travel insurance.
bcu Rewards Credit Card

On website

Balance transfer

N/A

Purchase rate

13.05% p.a. ongoing

Annual fee

$89.00 p.a. ongoing

Highlights

  • Acquire a low variable interest rate of 13.05% p.a. for purchases.
  • Receive 0.66% cash back on every $1 spent on eligible transactions.
  • Take advantage of up to 55 interest-free days.

Pros

  • Competitive interest rate on purchases.
  • Earn cash back on eligible transactions.
  • Has 24-hour fraud monitoring and supports Visa payWave.

Cons

  • There is no sign-up bonus offer for this card right now.
ANZ Low Rate Credit Card

On website

Balance transfer

28 months at 0% p.a.

Purchase rate

13.74% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Enjoy 0% p.a. for 28 months on balance transfers with a 3% balance transfer fee (then reverts to 21.99% p.a.) Terms and Conditions apply.
  • First-year annual fee waived ($58 subsequently).
  • Continuous low rate of 13.74% p.a. on purchases.
  • Enjoy up to 55 days interest-free on purchases by settling your account completely each month.

Pros

  • Enjoy 0% p.a. on balance transfers up to 28 months.
  • $0 annual fee for the first year ($58 p.a. thereafter).
  • Take advantage of the low purchase interest rate of 13.74% p.a.
  • Add up to 3 additional cardholders at no extra cost.

Cons

  • No purchase or travel insurance included.
  • No rewards program.
ANZ Rewards Black Credit Card

On website

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Annual fee

$375.00 p.a. ongoing

Highlights

  • Get 180,000 bonus Reward Points and $150 cash back upon spending $3,000 on qualifying purchases within the initial 3 months of approval.
  • Accrue 2 Reward Points for every $1 spent on qualifying purchases, up to $5,000 per statement period.
  • Enjoy complimentary international travel insurance.

Pros

  • Receive 180,000 bonus ANZ Rewards points and earn a $150 cash back when you meet the criteria.
  • Earn 2 points per $1 spent on eligible purchases up to $5,000 per statement period.
  • There is no cap on the number of points you can earn.
  • Free international travel insurance and purchase protection insurance.

Cons

  • The $375 p.a. annual fee.
  • Doesn't come with lounge access.
  • No balance transfer offer.
Citi Clear Credit Card

Citi Clear Credit Card

Balance transfer

24 months at 0% p.a.

Purchase rate

14.99% p.a. ongoing

Annual fee

$49.00 for 1st year

Highlights

  • Benefit from 0% p.a. for 24 months on Balance Transfers (with a 1.5% Balance Transfer fee). The rate reverts to the cash advance rate.
  • Get a discounted first-year annual fee of $49 ($99 p.a. thereafter)
  • Enjoy a low ongoing variable purchase rate of 14.99% p.a.
  • Access to complimentary insurances including Extended Warranty Insurance and Purchase Protection Insurance.*



*Complimentary insurance covers are subject to eligibility requirements: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the underwriter, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz) has issued a Complimentary insurance group policy to National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) which allows eligible NAB account holders and cardholders to claim under it as third party beneficiaries by operation of s48 of the Insurance Contracts Act 1984 (Cth). NAB is the credit provider and issuer of Citi branded credit cards. NAB has acquired the business relating to these products from Citigroup Pty Limited (ABN 88 004 325 080, AFSL and Australian Credit Licence 238098) (“Citi”). Citi has agreed with NAB to provide transitional services in relation to the transferred business. Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. The terms, conditions, exclusions, limits and applicable sub-limits of the group policy are set out in the Citi Credit Cards Complimentary Insurance Policy Information Booklet which may be amended from time to time. Neither NAB nor Citi nor any of its related corporations guarantee this insurance.


Pros

  • Low ongoing variable purchase rate of 14.99% p.a.
  • Add up to 4 additional cardholders at $0 fee.
  • Up to 55 days interest-free on retail purchases.
  • Enjoy 10% off (up to $250) Limited Time LUX Exclusive hotel offers until 1 March 2025.

Cons

  • There is no rewards program on this card.
  • After the initial year, the annual fee reverts to $99 p.a.
  • Interest will be charged on retail purchases while you have a balance transfer.

Why settle for a card that’s only second best when you find the best credit card* for your wallet? Start researching and compare a selection of some of the best credit cards* on offer from major banks and small banks. This best credit card* comparison table includes balance transfer offers, low interest rates, no annual fees, rewards and frequent flyer programs.

The types included in our best credit card guide

When choosing a credit card on Credit Card Compare, it's crucial to understand the different types available and how they cater to various financial needs. Here are some common types to compare credit cards with:

  • Rewards credit cards: Reward credit cards allow you to earn points, cashback, or miles for every dollar you spend. These rewards can be redeemed for travel, gift cards, merchandise, or statement credits.
  • Low rate credit cards: Low rate credit cards offer a lower annual percentage rate (APR) on purchases than other cards. This can be beneficial if you tend to carry a balance on your card.
  • Balance transfer credit cards: Balance transfer credit cards allow you to transfer existing credit card debt to a new card with a lower or 0% introductory APR for a specified period. This can help you save on interest and pay off your debt faster.
  • Frequent flyer credit cards: Frequent flyer credit cards are designed for travel enthusiasts. They offer points or miles for airline ticket purchases with Qantas, Velocity and other airlines. These cards often come with travel perks like lounge access and travel insurance.
  • Cashback credit cards: Cashback credit cards provide a percentage of your spending back to you as cash rewards. These cards are ideal for those who prefer tangible rewards or want to offset their everyday expenses.
  • Student credit cards: Student credit cards are tailored for college or university students who are new to credit. These cards often have lower credit limits and may offer rewards or benefits suitable for students.
  • Premium credit cards: Premium credit cards, like Platinum, Black, and Gold, cater to high-income individuals and offer exclusive perks such as concierge services, luxury travel benefits, and higher reward rates. These cards often come with higher annual fees, with the highest being a metal credit card.

How Lauren from the Gold Coast found her new card

Lauren is not into credit card rewards. She doesn’t have the appetite to understand complicated frequent flyer programs. She values simplicity and playing it safe.

The main reason to get a card is for everyday convenience. If she ever carries a balance from one month to the next, at least she won’t be paying much interest. Low interest rates equate to low risk and low stress—no surprises.

She easily finds a card on Credit Card Compare that gives her a low interest rate and the lowest possible annual fee. She applies, gets approved, and uses the card for daily spending. Well played, Lauren.

What to consider when choosing a credit card

Before selecting a credit card, consider the following factors to ensure that the card aligns with your financial goals and spending habits:

  • Interest rates: The interest rate, also known as the APR, impacts how much you'll pay in interest if you carry a balance on your card. Look for cards with competitive interest rates to save on finance charges – 0% purchase credit cards are available to compare.
  • Fees: Be aware of the fees associated with the credit card, including annual fees, late payment fees, balance transfer fees, and foreign transaction fees. Choose a card with fees that align with your budget and spending patterns.
  • Rewards and benefits: Evaluate the rewards structure of the credit card to determine if it aligns with your preferences. Consider whether you prefer cashback, travel rewards, points for specific retailers, or other benefits like insurance coverage and extended warranties.
  • Credit limit: A card's credit limit dictates how much you can spend on the card. Ensure that the credit limit meets your spending needs without encouraging overspending.
  • Eligibility criteria: Check the eligibility criteria for the credit card, including minimum income requirements, credit score thresholds, and residency status. Ensure you meet the criteria before applying to increase your chances of approval.
  • Payment flexibility: Consider the payment options offered by the credit card issuer, such as online banking, mobile payments, automatic payments, and payment due dates. Choose a card with payment options that suit your preferences and lifestyle.

Help choosing the best credit card*

Figure it out for yourself. Learn more about selecting the best credit credit that aligns with your lifestyle, financial goals, and preferences.

  • FAQs

  • Methodology

Which credit card has the highest acceptance across Australia?

Visa and Mastercard tend to enjoy the widest acceptance across retailers in Australia, mate. From shops to restaurants to paying for things online, you'll usually have no worries using them. Their broad coverage makes them a pretty reliable choice here.

Which credit card is best suited for international travel?

For travel overseas, cards that don't charge foreign transaction fees can save you a bit. Those that also chuck in some nice travel rewards like points for flights and hotels are usually tops as well. As Visa and Mastercard are typically accepted worldwide, they're also convenient options when venturing abroad.

Is it advisable to apply for a credit card through your current bank or explore options with other lenders?

Applying through your current bank could score some pre-approval perks, which is handy. But having a squiz at what other lenders are offering might uncover lower interest rates or better rewards that could work out better for you. Taking the time to compare could help you find the best fit.

What options exist for the most cost-effective credit card?

If keeping your costs down is key, target cards with competitive interest rates, low or no annual fees, and no nasty hidden charges. Knowing your spending patterns can help pick one that saves you the most on fees and interest.

What's the verdict: Rewards credit cards or frequent flyer credit cards?

Whether frequent flyer or generic rewards cards are best really depends on your spending and travel preferences. If you fly a specific airline all the time, their card can rack up extra miles. But a general rewards card gives you more flexibility in how you use your points.

Which is more advantageous: A credit card with a low interest rate or one with no annual fee?

This one comes down to how you'll use the card. If you expect to carry a balance, a low ongoing interest rate should be the priority to minimize what you pay. But if you pay it off each month, one without an annual fee can provide longer term savings.

What's the smarter choice: A credit card offering 0% on balance transfers or a personal loan?

For short term debt management, the 0% balance transfer card could work out cheaper as you avoid paying interest initially. But if it's a larger amount or you want longer to pay it down, a personal loan could allow you to consolidate debts and extend the repayment period.

How do no interest, flat monthly fee cards compare to buy now, pay later plans?

The predictable payment structure of no interest, flat monthly fee cards can make budgeting easier. But if short term flexibility is more valuable, buy now pay later options let you defer payments interest free, handy if cashflow varies.

What constitutes an excellent first-time credit card?

An ideal first card might have low fees, a reasonable credit limit, and education to help people new to credit learn the ropes. Extras like credit monitoring and incentives for responsible use provide great additional value.

How long does it take to get approved for a credit card?

The approval timeline for a credit card application can vary depending on the issuer's processing procedures. In some cases, you may receive an instant approval decision, while in others, it may take a few days to weeks for the issuer to review your application and make a decision.

Methodology for best credit card comparison

We considered the following attributes and associated metadata when ranking our comparison of the best credit cards.

  • Additional cardholders: If the card supports additional cardholders, how many, and the cost per additional cardholder.
  • Airport lounge access included: Whether the card comes with airport lounge passes or lounge network membership and any limitations on use.
  • Annual fee initial year: The first year’s annual card fee charge, which some cards waive. Lower is better or no annual fee at all.
  • Annual fee ongoing: If there is an ongoing annual fee and much is charged each subsequent year to keep the account open. Lower is better.
  • Apple Pay enabled: Support for Apple Pay, which is considered beneficial.
  • Balance transfer offer: If there is an introductory balance transfer offer and what its rate, period, and fee are. Lower rates for longer periods are considered better.
  • Cash advance rate: What the interest rate is on cash advances — and cash equivalent transactions classified as cash advances — and associated fees. Lower is better.
  • Card type: Whether the card runs on American Express, Mastercard, Visa, or other network. This can affect where the card can be used and surcharges.
  • Foreign exchange fee: If there is a fee incurred to convert foreign currency transactions whether made while overseas or from overseas stores and suppliers. Lower is better.
  • Interest-free period: The number of interest-free days available. Longer is better.
  • Introductory purchase rate: If there is an introductory purchase rate offer and what its rate and period are. Lower rates for longer periods are considered better.
  • Late payment fee: What the fee is when payments are late. Lower is better.
  • Maximum credit limit: The highest credit limit offered, if publicised by the bank.
  • Minimum credit limit: The lowest credit limit offered, if publicised by the bank.
  • Minimum income required: How much income is required as a minimum under the card's eligibility criteria. Lower thresholds increase accessibility to credit.
  • Purchase rate ongoing: How much interest is charged on balances that are carried over. Lower ongoing rates are considered better.
  • Rewards program: Whether the card earns rewards (points, cashback, etc. per dollar spent), the flexibility of rewards, and their value.
  • Samsung Pay enabled: Support for Samsung Pay, which is considered beneficial.
  • Sign-up bonus: Whether the card has a sign-up bonus of points, cashback, vouchers, etc. and its qualifying criteria. A sign-up bonus is considered beneficial.
  • Target market: Whether the card is designed for businesses or consumers.
  • Travel insurance: Whether the card comes with complimentary travel insurance, whether it covers domestic, overseas, or global travel, who it covers, and the level of protection.

Our rankings may not reflect what matters most to you. Be sure to compare key rates, fees, and features against your own financial priorities before deciding.