About Star Ratings

In addition to being Australia’s biggest financial comparison site, Canstar also researches and rates products from over 775 brands, across more than 30 different finance categories. You can meet the Canstar Research team, and find out more about our current Star Ratings and Awards.

 

What are Canstar’s Star Ratings?

Our team of expert researchers compare thousands of products, recognising the top performers with 5-Star Ratings and Awards.

How do Canstar’s Star Ratings work?

Our expert researchers analyse each product we rate by comparing price and features, with the top 10% of products being recognised with a 5-Star Rating.

 

Does Canstar consider customer satisfaction?

In addition to our expert Star Ratings, we consider what customers want with financial products as part of our Customer Satisfaction Awards.

 

How does Canstar calculate Star Ratings?

 

5-Star products Five star products should be on your shopping list. As a consumer, this represents a high-value product. According to our ratings, these are the top 10% of products in their field.
Canstar's 4-Star Rating 4-Star products Four star products also still have a good mix of price and features and shouldn’t be struck off your shopping list, especially if the product and brand really appeal to you.
Canstar's Rising Star Rising star Rising star – If you see a star that looks like this, it means that we haven’t yet rated this product (perhaps it’s new to the market) but we think the product shows potential to score highly in the near future.
Canstar's 3-Star Rating 3-Star product Three stars means satisfactory value – and sometimes you may be satisfied with that – but our ratings suggest that you could be doing better.
Canstar's 2-Star Rating 2-Star product Two star products are unlikely to be great value for you.
Canstar's 1-Star Rating 1-Star product One star products are rated in the bottom 10% of the market and are highly unlikely to be of value.
Canstar's New Product New product This new product is awaiting review by Canstar’s Research Team.
Canstar's Not Rated Not rated This product did not meet the eligibility criteria for our last Ratings Review.
Products that have not been available for a minimum of five years are not eligible to receive a Star Rating, therefore an indicative Star Rating is supplied. Indicative Star Ratings are represented as hollow stars, and provide an indication of the products rating relative to its peers for the period for which it has been available.
Indicative Star Ratings are only applicable on Superannuation and Managed Funds.

Canstar's Indicative 1-Star Rating Indicative 5-Star Five indicative star products should be on your shopping list. As a consumer, this represents a high-value product relative to its peers for the period for which it has been available. According to our ratings, these are the top 10% of products in their field.
Canstar's Indicative 2-Star Rating Indicative 4-Star Four indicative star products have a good mix of price and features and shouldn’t be struck off your shopping list, especially if the product and brand really appeal to you.
Canstar's Indicative 3-Star Rating Indicative 3-Star Three indicative stars means the product has satisfactory value relative to its peers for the period for which it has been available. Sometimes you may be satisfied with that – but our indicative ratings suggest that you could be doing better.
Canstar's Indicative 4-Star Rating Indicative 2-Star Two indicative star products are unlikely to be great value for you based on comparison with peer products for the period in which this product has been available.
Canstar's Indicative 5-Star Rating Indicative 1-Star One indicative star products are rated in the bottom 10% of the market and are highly unlikely to be of value for you based on comparison with peer products for the period in which this product has been available.

In some product categories, such as superannuation, Canstar may also give indicative Star Ratings for products that have not been available for long enough to be eligible for our Star Ratings but which meet all other eligibility criteria.

What are Canstar’s Customer Satisfaction Awards?

Canstar’s Customer Satisfaction Awards are based on how content customers are with a particular finance provider within a certain finance category. The awards provide insights into how satisfied consumers are with their financial provider, such as their bank, insurance provider or superannuation fund. The finance provider that has the highest overall customer satisfaction receives the award. Canstar’s Customer Satisfaction Awards are determined by consumers based on their feedback. We engage a respected professional market research company to ask Australians about their experiences with financial products or services to determine their satisfaction level.

Canstar’s Research team

Canstar’s Research team provides the expertise that powers our Star Ratings and Awards, designed to help consumers make better-informed financial decisions.

 


Mitchell Watson
General Manager, Research and Insights

Master of Business Administration and Management, Griffith University

Mitch Watson is the General Manager for Research and Insights, with responsibility for Canstar’s Research program across Banking, Insurances, and Wealth and Utilities. Through this work, Mitch and his team are able to assist Australian and New Zealand consumers identify products of value through Canstar’s flagship Star Ratings and Awards releases. Mitch’s role at Canstar sees him deliver compelling insights that help people make informed decisions about their personal finances and businesses develop more customer-centric products.

As a finance expert and spokesperson for Canstar, Mitch prides himself on providing balanced views on the latest news in the marketplace, to paint a clear picture for consumers. Mitch regularly speaks with leading media outlets across Australia, bringing research-based insights into topics such as what makes a home loan good value, how to cut the cost of your insurance premiums and why you need to be chasing better interest rates on your savings account.

Mitch’s insights have appeared in writing over the years in the Sydney Morning Herald, The Age and the Brisbane Times, along with The Daily Telegraph and The Courier-Mail. He has also contributed commentary to online news sites including Domain.com.au, news.com.au, realestate.com.au, Yahoo Finance, and mortgage broking trade outlets such as Broker News and Mortgage Business. He has also featured on ABC Radio, Seven News (7NEWS) and Nine News (9News).

Mitch has worked at Canstar for over a decade, initially boosting his industry and product knowledge as a Relationship Manager, before moving to the Research team as a Research Analyst. During this time Mitch was responsible for a range of lending and insurance portfolios, including Home Loans and Health Insurance.

Mitch is experienced at analysing detailed financial product data to identify key product differentiators and industry trends across product lines for home loans, health insurance, online share trading and margin lending. He also brings excellent product knowledge across financial topics ranging from deposit accounts to credit cards, business loans, personal loans, risk insurance and general insurance.

LinkedIn  Follow Mitch on LinkedIn



Joshua Sale

Joshua Sale
Ratings Manager

Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)

Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research Team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.

As one of Canstar’s company spokespeople, Joshua is confident participating in print, radio and broadcast journalism interviews. He has participated in interviews with the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.

Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.

Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.

Joshua’s passion for financial literacy has seen him thrive in his role in Canstar’s Research Team. As a financial commentator at Canstar, he has an opportunity to help inform Australians, and help them learn and engage with the financial products that they use and rely on every day.


Meet the full Canstar Research team →

FAQs

When calculating Star Ratings, Canstar takes into account a huge number of details for each product’s price and features. Our analysis factors in the price considerations Australians would generally encounter in their use of the product, such as interest, upfront and ongoing fees on a home loan. On an insurance product, it would include monthly and annual premiums, along with excesses.

Canstar’s review of features focuses on recognising functionality, flexibility and accessibility. This review considers each product and providers offering along the general consumer use of the product, from application and payment; to using the product, customer service and support options; and finally to account, loan or policy closure.

To determine value, Canstar gives a weighting to how relevant the price and feature performance is for a particular product or provider. How greatly Canstar considers price and features varies and is guided by the different types of customers, known as customer profiles, that a product or provider is rated for.

In some product categories, such as superannuation, products that have not been available for a minimum number of years are not eligible to receive a Star Rating. In these instances, an indicative Star Rating is awarded. Indicative Star Ratings are represented as hollow stars, and provide an indication of the products rating relative to its peers for the period for which it has been available. Indicative Star Ratings are only applicable for superannuation and managed funds products.

For media enquiries, commentary or analysis about Canstar’s Star Ratings and Awards, including our Outstanding Value Awards or Customer Satisfaction Awards, please contact our Corporate Affairs team.

As seen and heard on

  • Daily Mail Australia
  • Sunrise
  • realestate.com.au
  • Domain
  • news.com.au
  • SBS
  • 10 NEWS FIRST
  • Sky News
  • Australian Financial Review
  • The New Daily
  • ABC Radio
  • A Current Affair
  • 7.30
  • 7 NEWS
  • Today Show
  • The Courier Mail
  • The Age
  • The Project
  • Yahoo! Finance
  • The Daily Telegraph
  • 9 NEWS
  • Sydney Morning Herald
  • The Australian
  • Reuters