Best credit cards Australia
The table below displays our highest rated ‘low fee’ credit cards, with the results sorted by Canstar’s expert Star Ratings (highest to lowest). Change the filters to suit your requirements. The ‘best’ credit card for you will depend on the type of credit card you want, as well as your own financial situation.
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The initial results in the table above are sorted by Star Rating (High-Low) , then Annual fee (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.
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What is the best credit card in Australia?
The best credit card for your needs will depend on your own individual circumstances, including your spending habits and how you will pay off your credit card balance. The features and costs of individual credit card products can vary significantly, depending on the issuer’s rules (the lender or bank where you signed up for the card), the type of card, and the network the card uses. In Australia, the three main credit card networks are Visa, Mastercard and American Express (AMEX).
There are five main types of credit cards in Australia:
1. Low fee Credit Cards
A low fee credit card charges low or no ongoing fees (annual fees or monthly fees). Low fee cards typically come with fewer bells and whistles, like rewards programs or complimentary insurances.
2. Low Rate Credit Cards
A low rate credit card offers a low interest rate. Some credit cards charge no interest, either for a limited time or for the life of the card.
3. Rewards Credit Cards
A rewards credit card offers a rewards program, such as the ability to earn rewards points, cashback or shopping vouchers.
4. Frequent Flyer Credit Cards
A frequent flyer credit card allows you to earn frequent flyer points, such as Qantas points or Velocity points, on everyday eligible spending.
5. Balance Transfer Credit Cards
A balance transfer is when you transfer your existing credit card balance onto a new card. Credit cards may have 0% balance transfer offers, where you are charged no interest on your transferred balance for a limited time. At the end of the offer period, the interest rate reverts to a higher rate.
To work out what credit card best suits your needs and circumstances, questions to consider could include:
- Why do you need a credit card?
- Will you realistically pay it off each month?
- Will any frequent flyer points or other rewards on offer justify the cost?
- If you want to pay off debt using a card with a balance transfer offer, will you be able to pay it off within the offer period?
If you think you won’t pay off the full balance each month, you might want to look for a ‘no-frills’ card with a low interest rate and low fees. If you only intend to use the card in emergencies and will pay off your balance in full, you may choose to look for a no annual fee card. If you’re intending to pay off debt, you might want a card with a long 0% balance transfer offer and low revert rate in case you don’t repay your balance in time.
Also think about whether you need a credit card in the first place or whether you’d be better off sticking with a debit card, which allows you to use your savings when making payments. Using a credit card means that you are borrowing money from a financial institution, and you could be charged interest on that debt.
Explore further→ How do credit cards work?
You can use the table at the top of this page to compare different types of credit cards and their Star Rating, such as:
- Low rate
- Low fee
- Rewards
- Frequent Flyer
- Balance Transfers
- Overseas travel
Frequently Asked Questions about Credit Cards
Explore credit cards further:
Compare credit cards with sign-up offers
Pros and Cons of Credit Cards
Visa vs Mastercard: What’s the Difference?
Latest in credit cards
Canstar Credit Card Star Ratings and Awards
Looking for an award-winning credit card product or to switch providers or brands? Canstar rates products based on price and features in our Credit Card Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall.
Canstar rates a range of financial products, covering banking, insurance and investment. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
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About our finance experts
Nina Rinella, Editor-in-Chief
Joshua Sale, Group Manager, Research & Ratings
As Canstar’s Ratings Manager, Josh Sale is responsible for the methodology and delivery of Canstar’s Credit Card Star Ratings and Awards. With tertiary qualifications in economics and finance, Josh has worked behind the scenes for the last five years to develop Star Ratings and Awards that help connect consumers with the right credit card for them.
Josh is passionate about helping consumers get hands-on with their finances. Josh has been interviewed by media outlets such as the Australian Financial Review, news.com.au and Money Magazine.
You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.
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Important information
For those that love the detail
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.