Mastercard Credit Cards

If you are looking for a Mastercard credit card, the table below shows a selection of credit cards on Canstar’s database that use the Mastercard card network.

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Editor-in-Chief
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  • Purchase rate p.a. - lowest first
  • Purchase rate p.a. - highest first
  • Reward points per $1 - lowest first
  • Reward points per $1 - highest first
  • Annual fee - lowest first
  • Annual fee - highest first
promoted
Fees & charges apply. Australian Credit Licence 234945.
12.99%
-
$59
dot
0% p.a. for 24 months on balance transfers.
dot
Free overseas travel insurance. No FX fees.
dot
3% BT Fee. Ltd time, other fees, T&Cs apply.
Offer
Travel insurance
Fees & charges apply. Australian Credit Licence 234945.
Fees & charges apply. Australian Credit Licence 234945.
promoted
Fees & charges apply. Australian Credit Licence 233714.
13.74%
-
$59
dot
0.00% p.a. interest rate on balance transfers for 26 mths. Rate reverts to 21.49% p.a. Balance transfer fee of 2% applies.
Offer
Fees & charges apply. Australian Credit Licence 233714.
Fees & charges apply. Australian Credit Licence 233714.
promoted
Fees & charges apply. Australian Credit Licence 230686.
20.74%
0.50
uncapped
$0
dot
Points never expire
Fees & charges apply. Australian Credit Licence 230686.
Fees & charges apply. Australian Credit Licence 230686.
promoted
Fees & charges apply. Australian Credit Licence 233714.
20.99%
1.25
uncapped
$295
$200 in first year
Bonus
Discount
Travel insurance
Points never expire
Airline lounge access
Fees & charges apply. Australian Credit Licence 233714.
Fees & charges apply. Australian Credit Licence 233714.
promoted
Fees & charges apply. Australian Credit Licence 233714.
20.99%
1
uncapped
$175
$99 in first year
Bonus
Discount
Travel insurance
Points never expire
Fees & charges apply. Australian Credit Licence 233714.
Fees & charges apply. Australian Credit Licence 233714.
promoted
Fees & charges apply. Australian Credit Licence 230686.
20.74%
0.50
uncapped
$0
Points never expire
Fees & charges apply. Australian Credit Licence 230686.
Fees & charges apply. Australian Credit Licence 230686.
promoted
Fees & charges apply. Australian Credit Licence 234945.
0%
for 6 mths
then 18.99%
-
$0
Offer
Discount
Fees & charges apply. Australian Credit Licence 234945.
Fees & charges apply. Australian Credit Licence 234945.
promoted
Fees & charges apply. Australian Credit Licence 234945.
12.99%
-
$49
Offer
Fees & charges apply. Australian Credit Licence 234945.
Fees & charges apply. Australian Credit Licence 234945.
promoted
Fees & charges apply. Australian Credit Licence 233714.
13.74%
-
$59
Bonus
Fees & charges apply. Australian Credit Licence 233714.
Fees & charges apply. Australian Credit Licence 233714.
promoted
Fees & charges apply. Australian Credit Licence 234945.
12.99%
-
$59
Offer
Travel insurance
Fees & charges apply. Australian Credit Licence 234945.
Fees & charges apply. Australian Credit Licence 234945.
promoted
Fees & charges apply. Australian Credit Licence 233714.
13.74%
-
$59
Offer
Fees & charges apply. Australian Credit Licence 233714.
Fees & charges apply. Australian Credit Licence 233714.
promoted
Fees & charges apply. Australian Credit Licence 233714.
9.90%
-
$108
Fees & charges apply. Australian Credit Licence 233714.
Fees & charges apply. Australian Credit Licence 233714.

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Unsure of a term in the above table? View glossary

The initial results in the table above are sorted by Reward points per $1 (High-Low) , then Annual fee (Low-High) . Additional filters may have been applied, which impact the results displayed in the table - filters can be applied or removed at any time.

promoted
Fees & charges apply. Australian Credit Licence 291313.
Receive 50,000 Bonus Qantas Points
dot
Receive 50,000 bonus Qantas points
dot
Min spend $5k in first 3 months. Offer ends 1 July 2025
dot
T&Cs apply. New Amex Card Members only.
Fees & charges apply. Australian Credit Licence 291313. See Terms & Conditions.
Fees & charges apply. Australian Credit Licence 291313. See Terms & Conditions.

About Mastercard credit cards

What is a Mastercard credit card?

A Mastercard credit card is a credit card that uses the electronic payments network operated by Mastercard to process transactions. These credit cards are issued by banks and financial institutions, not Mastercard, as the card network company is not a credit provider. So Mastercard credit cards and what they offer can vary significantly depending on the credit card issuer and the specific product in question.

Which Australian banks use Mastercard?

Mastercard credit cards are offered by a range of banks and financial institutions in Australia. At the time of writing, this includes well-known institutions such as Commonwealth Bank and Westpac.

You can view a range of Mastercard credit cards offered by Australian institutions in the comparison table at the top of this page.

What is the difference between Mastercard and Visa?

Mastercard and Visa are two different payment platforms. There are some small differences between the two payment platforms. For example, some providers have ‘exclusive’ arrangements with one payment platform over the other one. NAB, for instance, is currently in a 10-year agreement with Visa until 2025. There are also differences in the benefit programs they offer. However, credit card providers decide what benefits to offer and they can offer their own programs instead.

What features are included with a Mastercard credit card?

The features you can get with a Mastercard credit card will largely depend on the credit card provider. But some of the general features you can get include:

  • Worldwide acceptance. Mastercard cards are accepted in over 210 countries and territories worldwide.
  • Mastercard PayPass. Tap and pay wherever you see the contactless symbol. You generally don’t have to enter your PIN number to pay for purchases under $100 (or, in some cases, $200).
  • Zero Liability. You won’t be held responsible for unauthorised transactions made with your Mastercard credit card, including for purchases made in store, over the phone, online and via a mobile device, and through ATM transactions.
  • Mastercard Priceless. Access offers for travel, food, sports, shopping, entertainment and more.
  • Mastercard SecureCode. Gives you an additional layer of security to help prevent unauthorised use of your card when shopping online with participating retailers.

To get a better picture of what the Mastercard credit card you are considering offers, it could be a good idea to read the Target Market Determination, Key Facts Sheet and other important documentation before signing up.

How can I compare Mastercard credit cards?

There are a variety of Mastercard credit cards available in Australia, including low rate, low fee, frequent flyer and rewards credit cards. What is on offer will depend on the credit card provider and specific card. You can use our comparison table at the top of this page to compare credit cards from a wide range of financial institutions in Australia.

When comparing Mastercard credit cards, some general factors to look at include:

  • Annual fees. Some Mastercard credit cards charge no annual fee, either for the life of the card or for a promotional period. Other Mastercard credit cards do charge an annual fee, so it can be worth calculating whether this cost is worth the potential benefits you can get with the card.
  • Other fees. You can be charged a range of other credit card fees, such as international transaction fees, cash advance fees and late fees.
  • Interest rates. Some providers offer low rate Mastercard credit cards, including some with 0% interest rates for promotional periods or with 0% balance transfer offers.
  • Interest-free days. Credit cards typically have interest-free periods of 44 or 55 days. This is the maximum amount of time that you won’t be charged interest on purchases, provided you pay off your balance in full by the due date.
  • Rewards. Some Mastercard credit cards are linked to rewards or frequent flyer programs (such as Qantas and Velocity), allowing you to earn points on your eligible spending.
  • Features. Some Mastercard credit cards offer features such as complimentary travel insurance, purchase protection insurance and extended warranty insurance.

Frequently Asked Questions about Mastercard

Different types of credit cards may have different eligibility criteria. However, in general, to apply for a Mastercard (or any credit card for that matter), you must meet the following criteria:

  • at least 18 years old.
  • an Australian citizen or permanent resident.
  • have a good credit history
  • agree to a credit check.

Before you apply, it could be a good idea to check your credit score.

For more information on eligibility requirements, visit the provider’s website.

Most credit cards can be applied for online. Make sure to compare different brands before committing to a specific card. Check with the issuing institution for more information about applying for Mastercard credit cards, as each institution will have their own application processes.

Mastercard products are generally activated via the website of the financial institution where you obtained the card from. In addition you can also activate credit cards via phone or through a banking app.

The per annum interest rate on a credit card is set by the financial institution using the Mastercard network. Some companies offer zero interest for a fixed amount of time. Credit cards calculate your interest charges using an average daily balance method, meaning interest is compounded and accumulates every day. In short, every day your finance charges are based on the balance from the day before.

Credit limit is the maximum volume of debt that you can accumulate on a credit card. The minimum credit limit is often between $1,000 and $2,000 while some cards can have a maximum of $100,000. However, these limits are not set by Mastercard, but by the issuing financial institution.

Before cancelling, you’ll generally need to pay off any debt that’s accrued on the credit card. After that you’ll be able to officially cancel the card via your bank’s website or over the phone. It’s generally recommended to destroy your physical card after cancelling it. However, this could differ between financial institutions.

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.

View all Star Ratings and Awards


 

About the authors

Nina Rinella, Editor-in-Chief

Nina Rinella
As Canstar’s Editor-in-Chief, Nina heads up a team of talented journalists committed to helping empower consumers to take greater control of their finances. Nina has written countless articles about finance and has been interviewed on finance topics by media organisations including The Australian, Realestate.com.au, Domain, the Herald Sun and the Sydney Morning Herald. Previously Nina founded her own agency where she provided content and communications support to clients around Australia for 8 years. She also spent four years as the PR Manager for American Express Australia, and has worked at a Brisbane communications agency where she supported dozens of clients, including Sunsuper and Suncorp. When she’s not dreaming up ways to put a fresh spin on finance, she’s taking her own advice by trying to pay her house off as quickly as possible and raising two money-savvy kids. Nina has a Bachelor of Journalism and a Bachelor of Arts with a double major in English Literature from the University of Queensland. She’s also an experienced presenter, and has hosted numerous events and YouTube series. You can follow her on LinkedIn and Canstar on Facebook. Meet the Canstar Editorial Team. Have a media enquiry, and interested in featuring Nina as a financial expert and commentator? Contact Canstar’s Media Team today.

Joshua Sale, GM, Research

Joshua Sale
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. You can follow Joshua on LinkedIn. Have a media enquiry, and interested in featuring Joshua as a financial expert and commentator? Contact Canstar’s Media Team today.

 


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.

Canstar may earn a fee from its Online Partners for referrals from its website tables, and from sponsorship or promotion of certain products. Fees payable by product providers for referrals and sponsorship or promotion may vary between providers, website position, and revenue model. Sponsorship/promotion fees may be higher than referral fees. If a product is sponsored or promoted, it’s an ad and it is clearly marked as such. An ad might appear in different places on our website, such as in comparison tables and articles. Ads may be displayed in a fixed position in a table, regardless of the product's rating, price or other attributes. The location of an ad doesn’t indicate any ranking or rating by Canstar. Payment of fees for ads does not influence our Star Ratings. See How We Get Paid to find out more. Payment of fees for ads does not influence our Star Ratings or Awards.

The Credit Cards Star Ratings are updated daily based on product features at that date, except for the Overseas Travel profile which is updated annually. Current rates, product features and fees are displayed and may be different to what was rated. The results don’t include every provider in the market and we may not compare all features relevant to you. You can find a description of the initial sort order below the table. Depending on which card feature/use you are looking at, the results will be sorted as follows:

  • Low fee is sorted by Star Ratings, then lowest Annual Fee, then alphabetically by brand.
  • Rewards is sorted by Star Ratings, then lowest Annual Fee, then alphabetically by brand.
  • Frequent Flyer is sorted by Star Ratings, then highest airline points per dollar, then alphabetically by brand.
  • Balance Transfer is sorted by Star Ratings, then lowest balance transfer rate, then lowest rate for the longest period, then lowest revert rate, then lowest upfront fee, and then alphabetically by brand. Please note that Balance Transfer Star Ratings are not for balance transfer suitability but are instead based on the Low Rate profile. 
  • All card types is sorted by highest Points per dollar spent, then lowest Annual fee, then alphabetically by brand.
  • Overseas Travel is sorted by Star Ratings, then lowest currency conversion on purchases, then lowest annual fee.

 

You can use the sort buttons at the top of each column to re-order the display. Learn more about our Credit Cards Star Rating Methodology and our Travel Credit Card and Travel Debit Card Star Ratings Methodology. The Occasional Overseas Traveller rating is shown in the table. The rating shown is only one factor to take into account when considering products. 

The products and Star Ratings in the table might not match your exact inputs in the selector. Sometimes the methodology uses profiles with categories or bands (e.g. income, loan amount or monthly spend), but sometimes a single methodology, without any categories or bands, is applied. The results will show the products that most closely match your selection, based on our profiles. If you are unsure about any terms used in the comparison table please refer to the glossary.

What is a Target Market Determination?

A Target Market Determination (‘TMD’) is a document that explains which people particular financial products may be suitable for (the target market) and sets out any conditions around how financial products can be distributed to consumers.

Why do product issuers provide Target Market Determinations?

From 5 October 2021, TMDs are compulsory for most financial products.

Issuers and distributors of financial products must take reasonable steps that are likely to result in financial products reaching consumers in the target market defined by the product issuer.

We recommend that you consider the TMD before making a purchase decision. Contact the product issuer directly for a copy of the TMD.

Any advice on this page is general and has not taken into account your objectives, financial situation or needs. Consider whether this general financial advice is right for your personal circumstances. Canstar provides information about credit products. We’re not suggesting or recommending a particular credit product for you. If you decide to apply for a Credit Card, you will deal directly with the provider, not with Canstar. It’s important you check rates and product information directly with the provider. Consider the Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the TMD. For more information, read our Detailed Disclosure.

Canstar is not providing a recommendation for your individual circumstances. We cannot and do not recommend that any particular product is suitable for you. 

We provide links to our Online Partners. These are brands that may pay Canstar a fee for referring you. Our tables default to display only our Online Partners’ products initially, you can adjust the Online Partner Filter to see all of the products available for comparison on Canstar’s website. We provide these links so that you can click through to the product provider’s website to get more information. The provision of these links does not constitute a recommendation by Canstar.

Before you elect to terminate or modify existing lending arrangements, it is recommended that you consider all associated fees and application costs, as well as the timing and impact these changes could have on your wider financial arrangements and personal circumstances.