Twice per year, Canstar’s Research team crunches the numbers on interest rates, fees and a number of other costs and features to reveal which lenders on our database offer outstanding value credit cards to customers.
The 2019 Canstar Credit Card Star Ratings saw the team compare 192 personal unsecured credit cards from 63 lending institutions in Australia, revealing some interesting findings.
For instance, a 5-Star Rated credit card in Canstar’s Low Rate customer profile has an interest rate of 9.78% on average, while the market average for credit cards is 16.41%.
Someone with a 5-Star Rated rewards card would get around $52 in value over a year after factoring in annual fees and other charges assessed in the methodology, assuming an annual spend of $12,000.
This compares with someone with a market average rewards card, who would end up in the negative, spending about $84 more in fees and other charges than they would get back in rewards and extras. So, it pays for those seeking rewards to do their homework.
Whether you’re in the market for a low-rate, low-fee, premium, rewards or frequent flyer credit card, Canstar can reveal a shortlist of credit cards on their database that provide outstanding value for a range of different cardholders.
The recipients of our 2019 Credit Card Star Ratings are listed below.
Outstanding value credit cards
Listed in the tables below are the 5-Star Rated Outstanding Value winners for each type of cardholder considered in this year’s ratings, with lenders listed in alphabetical order.
Outstanding Value – Low Rate Credit Card
To be considered in this profile, cards must be a personal, unsecured credit card, available for a credit limit of $6,000 and have been available in the market for 6 months. Interest rates for products considered in this profile range from 6.64% to 24.99%.
The following credit cards with a low interest rate received a 5-Star Rating in April 2019:
| Company Name | Provider Name |
|---|---|
| American Express | Low Rate Credit Card |
| Australian Unity | Low Rate Visa |
| Auswide Bank | Low Rate Visa |
| Bank Australia | Low Rate Visa Credit Card |
| Bank First | Visa Platinum Credit Card |
| Bank of us | Visa Credit Card |
| Community First CU | Low Rate Credit Card |
| Community First CU | McGrath Pink Visa |
| Easy Street Financial Services | Easy Low Rate Visa |
| First Option Bank | Low Rate Visa Credit Card |
| Nexus Mutual | Low Rate Platinum Credit Card |
| Northern Inland Credit Union | Low Rate Visa Credit Card |
| Police Bank | Visa Credit Card |
| SCU | Low Rate Visa Credit Card |
| Teachers Mutual Bank | Credit Card |
| UniBank | Visa Credit Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Low Fee Credit Card
To be considered in this profile, cards must be a personal, unsecured credit card and available for a credit limit of $6,000 and have been available in the market for 6 months. Annual fees for products considered in this profile range from no annual fee to $450 per year.
The following credit cards with low fees received a 5-Star Rating in April 2019:
| Company Name | Provider Name |
|---|---|
| American Express | Low Rate Credit Card |
| Bank Australia | Visa Credit Card |
| Bank First | Visa Classic Credit Card |
| BankVic | Visa Silver |
| First Option Bank | Low Rate Visa Credit Card |
| Heritage Bank | Gold Low Rate |
| Horizon Credit Union | Visa Credit Card |
| Hume Bank | Value Visa |
| ING | Orange One |
| ME Bank | Frank |
| Northern Inland Credit Union | Low Rate Visa Credit Card |
| QBANK | Bluey Visa Credit Card |
| Qudos Bank | Lifestyle |
| Teachers Mutual Bank | Credit Card |
| UniBank | Visa Credit Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Rewards Credit Card – $12,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that provides direct access to merchandise, cash-back, gift cards, lifestyle rewards or food and beverage rewards.
The following credit cards that offer rewards points received a 5-Star Rating in April 2019, based on a customer who spends $12,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Rewards Option |
| American Express | Essentials Credit Card |
| HSBC | Platinum Credit Card |
| Jetstar | Mastercard – Rewards Option |
| Jetstar | Platinum Mastercard – Rewards Option |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Rewards Credit Card – $24,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that provides direct access to merchandise, cash-back, gift cards, lifestyle rewards or food and beverage rewards.
The following credit cards that offer rewards points received a 5-Star Rating in April 2019, based on a customer who spends $24,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Rewards Option |
| HSBC | Platinum Credit Card |
| Jetstar | Mastercard – Rewards Option |
| Jetstar | Platinum Mastercard – Rewards Option |
| Latitude Financial Services | Latitude Infinity Rewards |
| Summerland Credit Union | Rewards Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Rewards Credit Card – $36,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that provides direct access to merchandise, cash-back, gift cards, lifestyle rewards or food and beverage rewards.
The following credit cards that offer rewards points received a 5-Star Rating in April 2019, based on a customer who spends $36,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Rewards Option |
| Jetstar | Mastercard – Rewards Option |
| Jetstar | Platinum Mastercard – Rewards Option |
| Latitude Financial Services | Latitude Infinity Rewards |
| Summerland Credit Union | Rewards Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Rewards Credit Card – $60,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that provides direct access to merchandise, cash-back, gift cards, lifestyle rewards or food and beverage rewards.
The following credit cards that offer rewards points received a 5-Star Rating in April 2019, based on a customer who spends $60,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Rewards Option |
| American Express | David Jones Platinum Card – Rewards |
| Bankwest | More Platinum Mastercard |
| Jetstar | Platinum Mastercard – Rewards Option |
| Summerland Credit Union | Rewards Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Rewards Credit Card – $120,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that provides direct access to merchandise, cash-back, gift cards, lifestyle rewards or food and beverage rewards.
The following credit cards that offer rewards points received a 5-Star Rating in April 2019, based on a customer who spends $120,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Rewards Option |
| American Express | David Jones Platinum Card – Rewards |
| Bankwest | More Platinum Mastercard |
| Bankwest | More World Mastercard |
| Coles | Rewards Mastercard |
| Jetstar | Platinum Mastercard – Rewards Option |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Frequent Flyer Credit Card – $12,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that either allows for earning frequent flyer points or rewards points that can be transferred to one or more frequent flyer programs that collectively offer flights between Sydney and the six destinations considered.
The following credit cards that offer frequent flyer points received a 5-Star Rating in April 2019, based on a customer who spends $12,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Qantas Option |
| American Express | Explorer Credit Card |
| American Express | Platinum Edge Credit Card |
| American Express | Velocity Escape Card |
| ANZ | Rewards Travel Adventures Card |
| HSBC | Platinum Credit Card |
| HSBC | Platinum Qantas Credit Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Frequent Flyer Credit Card – $24,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that either allows for earning frequent flyer points or rewards points that can be transferred to one or more frequent flyer programs that collectively offer flights between Sydney and the six destinations considered.
The following credit cards that offer frequent flyer points received a 5-Star Rating in April 2019, based on a customer who spends $24,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Qantas Option |
| American Express | David Jones Platinum Card – Qantas Option |
| American Express | Explorer Credit Card |
| American Express | Platinum Edge Credit Card |
| American Express | Velocity Platinum Card |
| ANZ | Rewards Travel Adventures Card |
| HSBC | Platinum Qantas Credit Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Frequent Flyer Credit Card – $36,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that either allows for earning frequent flyer points or rewards points that can be transferred to one or more frequent flyer programs that collectively offer flights between Sydney and the six destinations considered.
The following credit cards that offer frequent flyer points received a 5-Star Rating in April 2019, based on a customer who spends $36,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Qantas Option |
| American Express | David Jones Platinum Card – Qantas Option |
| American Express | Explorer Credit Card |
| American Express | Platinum Edge Credit Card |
| American Express | Qantas Ultimate Card |
| American Express | Velocity Platinum Card |
| HSBC | Platinum Qantas Credit Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Frequent Flyer Credit Card – $60,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that either allows for earning frequent flyer points or rewards points that can be transferred to one or more frequent flyer programs that collectively offer flights between Sydney and the six destinations considered.
The following credit cards that offer frequent flyer points received a 5-Star Rating in April 2019, based on a customer who spends $60,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Qantas Option |
| American Express | David Jones Platinum Card – Qantas Option |
| American Express | Explorer Credit Card |
| American Express | Platinum Edge Credit Card |
| American Express | Qantas Ultimate Card |
| American Express | Velocity Platinum Card |
| Diners Club Australia | Personal Dual Card |
| Virgin Money | Velocity High Flyer Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Frequent Flyer Credit Card – $120,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer a rewards program that either allows for earning frequent flyer points or rewards points that can be transferred to one or more frequent flyer programs that collectively offer flights between Sydney and the six destinations considered.
The following credit cards that offer frequent flyer points received a 5-Star Rating in April 2019, based on a customer who spends $120,000 on their credit card a year:
| Company Name | Provider Name |
|---|---|
| American Express | David Jones Card – Qantas Option |
| American Express | David Jones Platinum Card – Qantas Option |
| American Express | David Jones Platinum Card – Rewards Option |
| American Express | Explorer Credit Card |
| American Express | Qantas Ultimate Card |
| American Express | Velocity Platinum Card |
| Diners Club Australia | Personal Dual Card |
| Qantas | Qantas Premier Platinum |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Premium Credit Card – $24,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer consumers access to benefits beyond the standard offering. To be eligible, cards must offer at least four out of seven of the following features: extended warranty cover, international travel insurance, domestic travel insurance, pricing guarantee scheme, rental vehicle excess cover, rewards, concierge.
The following credit cards that charge an annual fee but offer cardholders a range of exclusive benefits for a customer who spends $24,000 a year, received a 5-Star Rating in April 2019:
| Company Name | Provider Name |
|---|---|
| ANZ | Rewards Platinum |
| ANZ | Rewards Travel Adventures Card |
| Bankwest | More Platinum Mastercard |
| Bendigo Bank | Platinum Rewards Mastercard |
| HSBC | Platinum Credit Card |
| Jetstar | Platinum Mastercard – Rewards Option |
| Nexus Mutual | Visa Platinum Credit Card |
| RACQ Bank | Platinum Rewards Mastercard |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Premium Credit Card – $60,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer consumers access to benefits beyond the standard offering. To be eligible, cards must offer at least four out of seven of the following features: extended warranty cover, international travel insurance, domestic travel insurance, pricing guarantee scheme, rental vehicle excess cover, rewards, concierge.
The following credit cards that charge an annual fee but offer cardholders a range of exclusive benefits for a customer who spends $60,000 a year, received a 5-Star Rating in April 2019:
| Company Name | Provider Name |
|---|---|
| ANZ | Rewards Platinum |
| ANZ | Rewards Travel Adventures Card |
| Bankwest | More Platinum Mastercard |
| Bendigo Bank | Platinum Rewards Mastercard |
| HSBC | Platinum Credit Card |
| Jetstar | Platinum Mastercard – Rewards Option |
| Nexus Mutual | Visa Platinum Credit Card |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
Outstanding Value – Premium Credit Card – $120,000 Annual Spend
To be considered in this profile, cards must be a personal, unsecured credit or charge card and offer consumers access to benefits beyond the standard offering. To be eligible, cards must offer at least four out of seven of the following features: extended warranty cover, international travel insurance, domestic travel insurance, pricing guarantee scheme, rental vehicle excess cover, rewards, concierge.
The following credit cards that charge an annual fee but offer cardholders a range of exclusive benefits for a customer who spends $120,000 a year, received a 5-Star Rating in April 2019:
| Company Name | Provider Name |
|---|---|
| ANZ | Rewards Platinum |
| Bendigo Bank | Platinum Rewards Mastercard |
| BOQ | Platinum Rewards Visa |
| HSBC | Platinum Credit Card |
| Nexus Mutual | Visa Platinum Credit Card |
| RACQ Bank | Platinum Rewards Mastercard |
| Source: Canstar Credit Card Star Ratings, April 2019. | |
For more information about how Canstar’s 2019 Credit Card Star Ratings are calculated, please view the methodology.
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