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Compare some of the best credit cards in Australia

Find the best credit card for your needs by comparing options from various Australian providers. Use filters on comparison tables to refine your search and find the ideal match for your financial situation.

60+ credit card providers in RateCity’s database

180+ credit card products in RateCity’s database

Mark Bristow

Updated on

14 Nov, 2024

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Compare some of the best credit card options in Australia

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No annual fee credit cards

Interest free credit cards

Best rewards credit card Australia

Balance transfer credit cards

Low income credit cards

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Frequent flyer credit cards

High income credit card

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Credit cards with lounge access

Which is the best credit card in Australia?

There is no single “best” credit card in Australia, as there is such a wide variety of options available. To identify the best credit card for you, you may want to look at your monthly income and spending habits, and consider how you want to use the credit card, such as for everyday expenses, emergencies, or earning rewards.

By better understanding your financial situation and specific needs, you can narrow down your search and find the best Australian credit card that suits your lifestyle. RateCity’s comparison tables can help you filter and sort options based on card type, purchase rate, interest-free days, and annual fees, helping you find the best card from RateCity's top picks.

Some of the best low rate credit cards in the RateCity Database for November 2024

Card	Company	Purchase Rate %
Low Rate Visa Credit Card	G&C Mutual Bank Limited	7.49%
Low Rate Credit Card	Community First Bank	8.99%
Low Rate Credit Card	MOVE Bank	8.99%
Foundation Visa Card^	Defence Bank	8.99%
Easy Low Rate Visa Credit Card	Easy Street Financial Services	8.99%
Low Rate Visa Credit Card	Australian Unity	9.90%
^offers 3.99% p.a. six month introductory rate on balance transfers, purchases and cash advances.

Some of the best frequent flyer credit cards, offering the highest sign up frequent flyer points, in the RateCity Database for November 2024

Card	Company	Purchase Rate %	Points	Conditions
Qantas Premier Titanium	Qantas Money	20.99%	1,50,000	Spend $5,000 within the first 90 days.
Citi Prestige Card (Qantas Rewards Program)	Citi	21.49%	1,50,000	Spend $7,500 within the first 2 months.
Frequent Flyer Black	ANZ	20.99%	1,30,000	90,000 bonus Qantas Points and $200 cashback when you spend $5,000 in the first 3 months. Plus, 40,000 bonus Qantas Points if you keep the card for over 1 year.
Altitude Black (Qantas or Velocity)	Westpac	20.99%	1,20,000	90,000 Qantas or Velocity Points in year 1 if you spend $6,000 within 120 days of new card approval and an extra 30,000 points after the first eligible purchase in year 2.
Qantas Rewards Signature Card	NAB	20.99%	1,20,000	90,000 bonus points when you spend $3,000 within the first 60 days and 30,000 bonus points if you keep the card for over 1 year.
Qantas Premier Platinum	Qantas Money	19.99%	80,000	50,000 bonus points when you spend $3,000 within the first 90 days. Plus 30,000 bonus points if you haven't earned Qantas Points with any credit card in the last 12 months.

Some of the best rewards credit cards, offering the highest sign up reward points, in the RateCity Database for November 2024

Card	Company	Purchase Rate %	Points	Conditions
Citi Prestige Card (Citi Rewards Program)	Citi	21.49%	2,50,000	Spend $10,000 within the first 90 days.
Citi Premier Card	Citi	21.49%	2,00,000	Spend $7,000 within the first 90 days and earn 150,000 bonus points and 50,000 bonus points if you keep the card for over 1 year.
Rewards Black	ANZ Banking Group Limited	20.99%	1,80,000	180,000 ANZ Rewards Points and $150 cashback when you spend $3,000 within the first 90 days.
Rewards Signature Card	National Australia Bank Limited	20.99%	1,80,000	130,000 bonus points when you spend $3,000 within the first 60 days and 50,000 bonus points if you keep the card for over 1 year.
Amplify Signature (Amplify Rewards)	St. George Bank	20.99%	1,50,000	Spend $12,000 within the first 12 months from card approval in one or more transactions.
Altitude Black (Altitude Rewards)	Westpac Banking Corporation Ltd.	20.99%	1,50,000	100,000 Rewards Points in year 1 when you spend $6,000 within the first 120 days and 50,000 points after the first eligible purchase in year 2.

Source: RateCity.com.au. Data accurate as of 05 November 2024.

Types of credit cards in Australia

Some of the common credit types in Australia include:

Visa, Mastercard or AMEX

Credit cards in Australia will either be a Visa, Mastercard or American Express card. Each card type has its own advantages and disadvantages, as well as individual rewards offered to customers.

Low rate credit cards

These credit cards offer lower-than-average purchase rates; generally around 10% or lower. Low rate cards may be helpful for some cardholders struggling to manage their debt.

Low fee credit cards

Ongoing credit card fees can add up over the years. Low-fee credit cards typically don’t charge you ongoing fees, like annual fees.

Rewards credit cards

Rewards credit cards allow eligible customers access to a card issuer’s rewards program. You can typically earn rewards points on eligible purchases or at sign-up, and exchange them for goods like appliances and electronics, or travel rewards like flight upgrades. You may also enjoy perks like cashbacks, complimentary travel insurance, concierge services or airport lounge access.

Frequent flyer credit cards

Frequent flyer credit cards allow eligible customers to earn frequent flyer points through the issuer’s affiliated airline, such as Qantas or Virgin. You can earn points on eligible purchases or at sign-up, which may be exchanged for travel rewards like plane tickets, flight upgrades and hotel accommodation. You may also enjoy perks like complimentary travel insurance and rental car insurance.

Travel credit cards

Ideal for avid adventurers, travel credit cards typically suit those planning overseas holidays, or those who shop online on international websites. These cards may not charge any foreign transaction fees, and may come with complimentary travel insurance and other perks, like airport lounge access.

Platinum credit cards

Designed for big spenders, platinum credit cards are a type of premium card that carries all the bells and whistles of rewards cards, along with higher credit limits, additional perks and protections like purchase protection. You typically will need to meet harder eligibility criteria to qualify, such as earning a higher than average income. Platinum credit cards may also come with higher annual fees and purchase rates, but it's assumed the cardholders can afford these costs.

Business credit cards

Intended for business owners, business credit cards are issued to a company with an Australian Business Number (ABN). They easily allow for the ordering of new cards and approving additional cardholders for various staff members.

Balance transfer credit cards

When a cardholder has an outstanding balance they're struggling to pay off, they can transfer this balance to a new card with an interest-free period. The balance transfer offer may be for a few months, or even for a year or longer. You may also be charged a balance transfer fee upon opening the new card account, which is generally a small percentage (e.g. 1%-3%) of your transferred balance.

RateCity tips for new cardholders

Be aware of the interest-free period on a balance transfer credit card. Remember that the interest-free period is for a limited time only. You may only have a window of no interest for the first year of the card. If you still have an unpaid balance on your credit card when the offer ends, you will be charged interest on the amount you still owe, often at a higher than an average interest rate. It’s usually worth trying to completely pay off your transferred balance before the interest-free period expires.

Finding the best credit card for your spending habits

Depending on how you use your credit card, certain types of cards may offer you more benefits than others. Here’s a quick guide to help you determine which credit card might be the best for you based on your spending habits:

Habitual spenders

You use your credit card like a debit card and are constantly racking up interest on your outstanding balance.

Suggested cards - Low rate credit card, low fee credit card

Occasional/emergency spenders

You use your credit card as a helpful financial tool and don't rely on it for everyday spending. You're only bringing it out for large purchases you otherwise couldn't afford in one go, in emergencies, or just when travelling or shopping online on overseas websites, and pay back this debt over time.

Everyday spender

You use your credit card every day for purchases like groceries or to pay bills. You may do so to maximise the number of rewards points you could earn. But unlike the habitual spender, you ensure your credit card balance is always paid in full each statement period.

Big spender

You are a higher income earner and put over $5000 a month on your credit card. You may use your credit card for convenience or to try and earn rewards points and game point hacks. You are strict about paying off your balance in full to avoid interest charges.

How do you find the best credit card?

Finding the right credit card requires thorough research and careful comparison. You can use comparison tools, such as tables and calculators, to help you in this process.

1. Check credit card comparison tables

Comparison tables allow you to compare apples with apples. You can filter and sort the options shown based on what you're looking for, such as card type, purchase rate, number of interest free days, and annual fees. You'll also get a clear indication of any features and perks linked to the new credit card.

2. Make a checklist of the cards you're considering

Once you've narrowed down your search, it’s worth creating a shortlist of potential cards and carefully looking at each card's Product Disclosure Statement (PDS), key fact sheet or equivalent document.

3. Check the eligibility criteria

Once you've settled on a choice, triple check the eligibility criteria set by the credit card provider before you begin your card application. If you don't meet the card issuer's criteria, you may not get card approval and be rejected. This could risk hurting your credit score and may be noted in your credit history.

Finding the best credit card in Australia that’s tailored to your spending habits can be beneficial, offering rewards and perks that align with your lifestyle. While a well-chosen card can enhance your financial flexibility, it’s worth remembering that when misused, credit cards can lead to significant debt. Remember that maxing out your credit limit and accumulating high debt can risk negatively affecting your credit score. By being diligent and responsible in your selection and use of credit cards, you can enjoy the benefits while protecting your financial well-being.

Compare credit cards

Finding the best credit card: Understanding fees and charges

When deciding on the best credit card for your budget, a general rule of thumb is to aim for one that keeps fees and charges down. These costs can add a lot to your bill and may result in you accumulating debt. Some common charges include:

Annual fees
Late payments fees
Cash advance fees
Fees for exceeding your credit limit
Foreign transaction fees

However, not all credit card fees are considered bad. In fact, if you opt for a credit card with a rewards program, it's generally accepted that you will pay a little more in annual fees or interest rates for the benefit. These costs help to pay for the rewards and may be unavoidable for this type of card.

For a full breakdown of any potential fees, read the PDS and terms and conditions linked to your credit card. It's crucial that you’re aware of these charges so that you can budget accordingly. The PDS will also have a breakdown of the earn rate on rewards programs.

What are the pros and cons of credit cards?

Understand the potential benefits and risks associated with a credit card.

Alex Ritchie

Personal Finance Editor

Alex Ritchie was a Personal Finance Writer and Editor at RateCity, and has been writing about Australian finance for over six years. Her expertise and passion covers loans, credit, superannuation, and closing the gender pay gap, and she aims to help young Aussies to overcome their financial apathy. Alongside RateCity, Alex has been published in numerous publications, including Australia's Money Magazine, Business Insider, Lifehacker Australia, and in health via NPS MedicineWise.

Vidhu Bajaj

Personal Finance Writer

Vidhu is a Personal Finance Writer at RateCity. She has been writing about finance topics from car loans and home loans to superannuation and cryptocurrencies for over five years. Before moving into finance, Vidhu went to law school where she studied human rights law. She has a Bachelor of Law degree and has previously worked in asset finance for Clifford Chance for more than four years. During her time at Clifford Chance, she worked in the India, London and Hong Kong offices on everything from aviation to vessel finance. In her spare time you’ll find her reading the Australian Financial Review or spending time with her dog Coco.

This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

Frequently Asked Questions

Guides and resources

Getting started with credit cards

Are credit cards worth it?
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How do you apply for a credit card?
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What should you do if your credit card application is rejected?
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Things to consider after you get a credit card

Five common credit card traps to avoid
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Does getting a second credit card hurt your credit score?
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The pros and cons of getting a higher credit limit
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How do you get rid of credit card debt?
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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.

Which is the best credit card in Australia?

Some of the best low rate credit cards in the RateCity Database for November 2024

Card	Company	Purchase Rate %
Low Rate Visa Credit Card	G&C Mutual Bank Limited	7.49%
Low Rate Credit Card	Community First Bank	8.99%
Low Rate Credit Card	MOVE Bank	8.99%
Foundation Visa Card^	Defence Bank	8.99%
Easy Low Rate Visa Credit Card	Easy Street Financial Services	8.99%
Low Rate Visa Credit Card	Australian Unity	9.90%
^offers 3.99% p.a. six month introductory rate on balance transfers, purchases and cash advances.

Some of the best frequent flyer credit cards, offering the highest sign up frequent flyer points, in the RateCity Database for November 2024

Card	Company	Purchase Rate %	Points	Conditions
Qantas Premier Titanium	Qantas Money	20.99%	1,50,000	Spend $5,000 within the first 90 days.
Citi Prestige Card (Qantas Rewards Program)	Citi	21.49%	1,50,000	Spend $7,500 within the first 2 months.
Frequent Flyer Black	ANZ	20.99%	1,30,000	90,000 bonus Qantas Points and $200 cashback when you spend $5,000 in the first 3 months. Plus, 40,000 bonus Qantas Points if you keep the card for over 1 year.
Altitude Black (Qantas or Velocity)	Westpac	20.99%	1,20,000	90,000 Qantas or Velocity Points in year 1 if you spend $6,000 within 120 days of new card approval and an extra 30,000 points after the first eligible purchase in year 2.
Qantas Rewards Signature Card	NAB	20.99%	1,20,000	90,000 bonus points when you spend $3,000 within the first 60 days and 30,000 bonus points if you keep the card for over 1 year.
Qantas Premier Platinum	Qantas Money	19.99%	80,000	50,000 bonus points when you spend $3,000 within the first 90 days. Plus 30,000 bonus points if you haven't earned Qantas Points with any credit card in the last 12 months.

Some of the best rewards credit cards, offering the highest sign up reward points, in the RateCity Database for November 2024

Card	Company	Purchase Rate %	Points	Conditions
Citi Prestige Card (Citi Rewards Program)	Citi	21.49%	2,50,000	Spend $10,000 within the first 90 days.
Citi Premier Card	Citi	21.49%	2,00,000	Spend $7,000 within the first 90 days and earn 150,000 bonus points and 50,000 bonus points if you keep the card for over 1 year.
Rewards Black	ANZ Banking Group Limited	20.99%	1,80,000	180,000 ANZ Rewards Points and $150 cashback when you spend $3,000 within the first 90 days.
Rewards Signature Card	National Australia Bank Limited	20.99%	1,80,000	130,000 bonus points when you spend $3,000 within the first 60 days and 50,000 bonus points if you keep the card for over 1 year.
Amplify Signature (Amplify Rewards)	St. George Bank	20.99%	1,50,000	Spend $12,000 within the first 12 months from card approval in one or more transactions.
Altitude Black (Altitude Rewards)	Westpac Banking Corporation Ltd.	20.99%	1,50,000	100,000 Rewards Points in year 1 when you spend $6,000 within the first 120 days and 50,000 points after the first eligible purchase in year 2.

Source: RateCity.com.au. Data accurate as of 05 November 2024.

Types of credit cards in Australia

Some of the common credit types in Australia include: