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Compare credit card introductory offers
Introductory offers can give you 0% interest charges for a limited time. Compare introductory offers, including revent rates, fees, features today to find a credit card you can be happy with.
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Credit card introductory offers are special deals promised to people who apply for credit cards. These special bonuses are offered on signup to a credit card, and can help encourage new borrowers to take out a credit card for the first time, or encourage existing cardholders to switch from their current credit card to another.
What are the different types of credit card introductory offers?
Introductory credit card offers available in Australia typically include:
- Bonus reward points and/or frequent flyer points.
- Discounted interest rates on sign up.
- No annual fees or discounted annual fees.
- Cash back offers – typically a percentage of each purchase or a fixed amount.
- Balance transfer deals – charging low or zero interest on outstanding debt when you switch from one card to another.
Some credit cards may feature just one of these introductory offers, while others will provide a combination of bonuses.
These promotions typically only last for a limited time. To keep enjoying bonus offers on your credit card, you may need to fulfil certain terms and conditions, such as spending a minimum amount on eligible transactions per month or per year.
It’s important to consider different offers and calculate which credit card may be right for you before making a choice. The best credit card deals for you may be the offers that best suit your household budget and spending style.
Benefits
- Bulk rewards points on sign up can be used to pay for international flights and other rewards.
- Potential to keep costs down with low rates and waived fees.
- 0% interest introductory periods may help card holders pay off their outstanding balances.
Drawbacks
- You may not meet all conditions, such as minimum spends.
- Low or 0% interest rate offers can revert to much higher rates.
- Some promotions are one-off only, meaning you can only use or spend them once.
How long will an introductory offer last?
The time frame of introductory promotions for credit cards depends on the credit card provider and the offer itself. They can either be given as an upfront, one-off bonus or last for a set period of months.
How long a credit card introductory offer may last
Type of introductory promotion | Length of offering |
Lower purchase rates | 5 – 15 months |
Interest-free period | 0 – 110 days |
Annual fee waiver | 1 year |
Bonus rewards points | One time offer - between 7,500 – 200,000 on sign up |
Qantas frequent flyer points | One time offer - between 7,500 – 150,000 on sign up |
Cashback | Earn between $200 - $300 on eligible spends for 1 - 3 months |
To keep enjoying bonus offers on your credit card, you may need to fulfil certain terms and conditions, such as spending a minimum amount on eligible transactions per month or per year.
How can credit card introductory offers benefit me?
Bonus points on sign up
Points chasers often use the sign-up points offered by frequent flyer cards as a strategy to nab more affordable or free flights. Some credit cards offer six-figure bulk frequent flyer points for eligible customers on sign up, which can be enough to take you around Australia, or even visit Asia, the US or Europe.
If you find a credit card that offers great rewards and a generous number of bonus points on signup, simply switching cards could let you enjoy the royal treatment. To get a better idea of if a rewards card may be right for you, consider comparing the value offered by its rewards to the cost of its annual fee.
Pay fewer fees and ongoing costs
A fee-free credit card offer can mean paying less for your credit card, and enjoying more value. It’s important to read the terms and conditions, as some credit cards only discount or waive fees for a limited time, or for as long as you maintain a minimum spend.
If your new credit card offers a low introductory interest rate on purchases, you can shop with confidence, knowing that you can rack up fewer interest charges on what you buy. You may even be able to find a card with a 0% introductory purchase rate and no fees. But be aware that once the introductory period expires, you’ll need to pay interest on any outstanding purchases based on the card’s revert rate.
Pay off your debt
If you already owe a large balance on a credit card, and are being charged interest at a high rate, you may be struggling to catch up on your credit card payments. Switching to a credit card that charges no or low interest on balance transfers could give you the breathing room you need to pay down your debt during the card’s introductory period.
Just remember that once the introductory period ends, you’ll need to pay interest on any remaining outstanding balance at the card’s revert rate.
The risks of credit card introductory offers
To a new cardholder, credit card introductory offers can sound like a bonanza. While there’s plenty to make you smile, you also need to be smart about the way you approach these deals.
- Keep track of your introductory offer period: If your rates are going to rise, or a credit card bonus offer is going to expire, you’ll want to be prepared.
- Always check your credit card’s revert rate: When the introductory period is over, it’s important to know what you’ll be charged in interest if you have any outstanding debt.
- Always read the fine print: You don’t want to get caught out if a credit card offer sounds too good to be true.
- Look beyond just the special offers: Introductory offers are just one factor that’s worth comparing when it comes to credit cards. Some cards might saddle you with high rates and fees along with that generous introductory deal.
- Don’t hang on to a credit card that doesn’t work for you: If an introductory offer ends, and you’re no longer getting enough value out of your credit card, you may want to investigate other options. The card should work for you, not the other way around.
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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.
