Top 10 best credit cards & offers in Australia (our picks for September 2025)
Need help choosing? See our expert picks of the best credit cards in Australia in various categories for you to consider.
Low interest rate
G&C Mutual Bank Low Rate Visa Credit Card: This card is about as cheap as it gets with an interest rate of 7.49% p.a. on purchases and a $50 annual card fee. You get up to 50 interest free days which is not market leading but still decent. This card is worth considering if you may occasionally carry a balance on your card.
No annual fee
Bankwest Zero Platinum Mastercard: This is a cracking little card, with no annual fee and 0% on purchases for the first 6 months (then 18.99% p.a.). There’s also 0% FX fees meaning no extra cost for purchases made overseas. If you don’t carry a balance beyond the first six months, you’ll really struggle to incur any costs with this card.
Balance transfer offer
ANZ Low Rate Credit Card: At 26 months, this is the longest 0% balance transfer offer available among cards on our database. In the first year, the card fee is waived and after that it’s only $58 p.a. The 3% balance transfer fee takes a bit of the gloss off what is an otherwise very good offer. Even after the BT offer expires, it’s still a quality low-cost card.
Biggest rewards sign up bonus
Citi Prestige Credit Card: New cardholders can get 250,000 bonus Citi reward Points after spending at least $10k on eligible purchases within 3 months from approval. Those points would be worth almost $1,200 in gift cards. The card also comes with 15 airport lounge passes per year, travel insurance included and a host of other perks. The annual fee is $700 which is up there.
Top points earning card
Bankwest More World Mastercard: This is a really good rewards card, earning you 2.5 points per $1 spent on eligible purchases. And there’s no points cap. Other perks include 10 airport lounge passes per year, complimentary travel insurance and 0% FX fees. The $270 annual fee is cheap compared to some of the other cards in this category. No sign up bonus points is a bit of a bummer.
Interest-free credit card
Citi Rewards Credit Card: If you pick this offer, you’ll pay 0% p.a. for 15 months on purchases & balance transfers (2% BT fee applies). The purchase rate reverts to 22.49% p.a. and the balance transfer rate reverts to the cash advance rate of 22.99% p.a. This is comfortably the top interest-free offer among the cards on our database. The annual card fee is $199.
Top Qantas frequent flyer card
American Express Qantas Ultimate Card: Earn up to 1.25 Qantas Points per $1 spent on eligible purchases, with extra points on purchases with Qantas. There’s also a tasty bonus points offer for new customers who apply by 13 Jan 2025. This could net you a total of 90,000 Qantas Points over two years if you meet the eligibility criteria (check with Amex for details). Loads of travel perks included too. The $450 annual card fee is pretty good value.
Top Velocity frequent flyer card
American Express Velocity Platinum Card: Earn 1.25 points per $1 (everyday spend) and 2.25 points per $1 on eligible purchases within Virgin Australia. As a welcome perk, eligible new cardholders can get an extra 100,000 Velocity Points when you apply online by 14 October 2025 and meet the minimum spend requirements (other T&Cs apply). As with most Amex cards, there’s no shortage of other perks. The annual card fee is $440.
Travel credit card
Bendigo Ready Credit Card: This card is a pretty strong all-rounder, but it’s particularly good when it comes to travel-friendly inclusions. There’s no international currency conversion fees, no annual fee, complimentary travel insurance and up to 55 days interest free. That makes it something of a unicorn, as no other card on our database offers that combo. The purchase rate of 19.99% p.a. is on the high side, so it’s not a card for revolving a balance. Pay off your trip on time and you’ll be right.
Business credit card
American Express® Business Gold Plus Card: We think this card offers the best balance between business-focussed rewards and cost. And the perks appear to have been carefully selected specifically with business users in mind. You can earn rewards points at an accelerated rate at selected B2B suppliers, with flexible options for cashflow management. It also offers most of the premium perks you would expect from an Amex card. The annual card fee is $395 (with two Employee Cards at no extra cost, then $75 p.a. per card).
Credit card news – Septamber 2025
Sean Callery, Editor
Credit card spending in Australia has hit another record high. Collectively we now put around $42.43 billion on our credit cards every month. However, the percentage of spending that attracts interest is relatively low by historical terms. Back in the 2000s, over 70% of credit card spending incurred interest, but now that figure is around 46%, as Aussies become more strategic with their credit card usage and make the most of interest-free days. Most cards give you 15-25 days after your bill comes through to pay off your balance interest-free. Consistently hitting that deadline is the key to keeping credit card costs low.
Sean Callery, Editor
What's the best credit card type for you?
Low rate credit cards
How they work: Low rate credit cards are designed to be a relatively cheap credit card option based on the interest rate. They are usually fairly basic in terms of the features, perks and rewards on offer.
Purpose: Often used by people who will occasionally have an outstanding balance that interest is charged on. Offers payment flexibility while keeping costs lower than some other credit cards.
Interest rates: 0.00% - 13.99% p.a.
What's good: Access credit at a relatively low rate (rates may even be lower than a personal loan in certain situations.)
What to watch for: Cards where the low interest rate is based on a special introductory offer that will revert to a higher rate later on.
Interest-free credit cards
How it works: Interest-free credit cards charge no interest, but usually come with a monthly fee for using the card instead. Some standard credit cards offer a 0% introductory rate for a limited period.
Purpose: These are basic cards designed for light usage, as the credit limit is generally capped at $1,000 - $3,000. They may be handy as an emergency/backup source of funds. If you don't use the card, it likely won't cost you anything.
Interest rates: 0% either ongoing or for an introductory period.
What's good: No interest and low credit limits mean there is a cap on the cost and how much debt you can build up.
What to watch for: Monthly fees can be relatively expensive. If you actually use the card, it may not be any cheaper than a standard credit card. These cards also typically do not offer rewards.
No annual fee credit cards
How they work: A type of no-frills credit card with no annual fee. It can help keep costs as low as possible, particularly for people who only use their card for emergencies, and/or repay their balance in full each month. Note, credit cards with no annual fee won’t necessarily have a low interest rate.
Purpose: An option for people who rarely use their credit card and don’t want the kinds of perks that come with more expensive cards.
Interest rates: 8.99% - 23.99% p.a.
What's good: Depending on how you use it, the card might cost you absolutely nothing, ever.
What to watch for: No annual fee offers that are only for the first year, or conditional on you sending a minimum amount in a set period.
Rewards credit cards
How they work: Rewards credit cards are linked to a rewards program that allows you to earn points when you spend, and redeem those points for rewards like cashback, gift cards, hotel stays, and shopping across a wide range of products.
Purpose: Rewards credit cards are all about earning points and getting access to more premium card features, like complimentary insurance.
Interest rates: 12.49% - 23.99% p.a.
What's good: Allows you to earn points for spending you would be doing anyway.
What to watch for: Cards that lure you in with rewards sign-up offers and perks, but have very high fees, interest rates or restrictive caps on the number of points you can earn.
Frequent flyer credit cards
How they work: Frequent flyer credit cards are rewards cards, tailored to customers who travel a lot. The rewards and benefits of the card are geared towards frequent travellers (e.g. points earning and redemption on flights and accommodation, airport lounge access, travel vouchers and travel insurance).
Most commonly these are linked to the Velocity credit cards or Qantas point cards.
Purpose: Earn and redeem points and other perks on travel related spending.
Interest rates: 12.49% - 23.99% p.a.
What's good: More targeted and valuable rewards for the right cardholder.
What to watch for: Cards that offer very niche travel perks that are only worthwhile if you fly often and spend a decent amount of time overseas.
Balance transfer credit cards
How it works: Balance transfer credit cards allow you to transfer the balance of an existing credit card, and pay 0% interest on that balance for a period of time. Balance transfers can be available with low rate or reward cards.
Purpose: Consolidate credit card debt and pay it off during the limited-time 0% interest period.
Interest rates: 0% during the balance transfer period but reverting to higher rates from 8.99% - 23.99% p.a.
What's good: The 0% interest periods available can be quite generous – up to 24 months, depending on the card.
What to watch for: Balance transfer fees that sometimes apply, either as a flat fee or a percentage of the balance being transferred. There are also no interest-free days on new purchased during the balance transfer period.
Premium credit cards
How it works: Premium credit cards generally have the highest annual fees, credit limits and offer the most rewards. Gold, platinum, and black credit cards are all premium versions of standard credit cards, and often require the cardholder to spend a certain amount of money to access benefits.
Purpose: Designed to maximise rewards and perks for high income, high spenders.
Interest rates: 19.99% - 23.99% p.a.
What's good: High-end perks, some of which may be exclusive to cardholders.
What to watch for: The temptation to spend more than you can afford in an effort to chase premium card rewards.
Other types of credit cards
Travel credit cards Travel credit cards allow you to earn frequent flyer points that can be used towards flights, accommodation, and other travel perks. Some come with additional travel-friendly features like 0% foreign transaction fees.
Cashback credit cards Cashback credit cards reward a percentage of your spending as credit. Alternatively, you can get your cash back in other forms such as gift cards.
Business credit cards Business credit cards are designed to offer a line of credit for business customers. All of the perks of personal credit cards also apply to business cards such as rewards schemes, interest-free days, and balance transfers. Corporate credit cards are designed for larger businesses.
Charge cards Charge cards are very similar to credit cards, but there is no set credit limit and the cardholder must pay off the full balance each month. There are no interest charges on charge cards.
Student credit cards Student credit cards are targeted specifically towards students who have little to no credit history. These are usually a fairly basic credit card, with low costs and few significant perks.
Store credit cards Store credit cards are offered by specific retailers to earn points as part of their rewards program. The other aspects of the cards will be similar to standard credit cards. Store credit cards are no longer widely available in Australia.
A recent Money.com.au survey found that 21% of Australians chose their credit card for its low annual fee, while 20% picked it for the ability to earn rewards points on spending. 19% preferred a low interest rate, with sign-up points or cashback offer (9%) and balance transfer deals (8%) following closely behind. The remaining respondents chose their credit card for benefits such as travel insurance (7%), airport lounge access (5%), low exchange fees (5%), or as part of a home loan package (4%).
How to compare credit cards
To compare credit cards, start by figuring out how you plan to use the card. It’s important to get a card that matches your spending habits.
But here are some key factors to look at across the board, whichever type of card you need.
The best credit cards will have...
Useful rewards
Look for cards offering rewards you'll actually use. And pay close attention to the conditions you need to meet to be eligible. For example, you might only get bonus points for signing up if you spend a certain amount after getting your card.
Competitive interest rates
This is the cost of borrowing using your credit card. You'll pay interest on purchases if you have a balance outstanding after the interest-free period each month, and a separate rate of interest on cash advances (with no interest-free period typically).
High interest-free days
This is the maximum number of days you have from the start of each statement period before you're charged interest on purchases. Ideally you want a card with a high number of interest-free days – e.g. up to 55 days.
Low credit card fees
Credit card annual fees can range from $0 all the way up to $1,750. There are other fees that might apply depending on how you use the card. If a card charges fees, consider what you're getting in return.
Credit card fees explained
- Annual fee This can range from $0 to well over $1,000 for premium rewards cards. It's fairly common for credit cards to have the annual fee waived in the first year, or every year if you spend a certain amount.
- Extra cardholder fee Some lenders charge an additional yearly fee for each extra card that’s part of your account. There is generally a limit on how many extra cards you can add to your account.
- Foreign currency conversion fee This is charged on transactions made in a foreign currency (even if you're in Australia when you make the purchase). This generally ranges from 2-3% but there are a number of credit cards with no international fees.
- Late payment fee If you don't make at least the minimum repayment on your credit card by the due date, you could be charged a late payment fee. This fee generally ranges from between $10 to $35 depending on the provider.
- Over limit fee This is a fee that may be charged if your balance exceeds the limit on your credit card limit.
- Cash advance fee Using your credit card to withdraw cash can cost you up to 5% of the withdrawn amount in fees, plus interest.
- Foreign currency cash advance If you are in a foreign country and withdraw cash from your credit card, then you could be charged a foreign currency cash advance fee as well as the standard ATM fees.
- Balance transfer fee Some cards with a balance transfer offer (but not all) charge an upfront fee of between 1-3% of the balance you're transferring. That fee will be in addition to the card's annual fee.
- Dishonour of direct credit fee If you are paying off your credit card balance by direct credit and you dishonour that payment, then you may be charged a dishonour fee of up to $2.50.
- Replacement card fee It can cost you up to $25 to have a replacement issued if you lose your card or make it unusable.
What credit card insurance can I get?
Travel insurance
Covers the likes of emergency medical expenses, loss or theft of personal belongings, and flight cancellation. Credit card travel insurance may cover international and/or domestic travel.
Rental car insurance
May cover theft, damage, towing and other charges related to your rental vehicle. This often simply covers the excess on the insurance available through the car rental company.
Price protection
Covers the cardholder for changes to product prices and allowing you to claim the difference as a refund.
Purchase protection
Covers accidental damage, loss or theft of items you have paid for using your card.
Extended warranty cover
This means items you purchase using your card may be covered for defects for longer than they would be if the standard manufacturer warranty applied.
Fraud protection
This coverage ensures you won’t be held responsible for unauthorised transactions or fraudulent charges on your credit card or account.
How to qualify for a credit card in Australia
Qualifying criteria for credit cards will vary between cards and issuers. To qualify for the majority of credit cards in Australia, you will need to meet some basic requirements:
- Be at least 18 years old
- Be an Australian citizen, permanent resident or hold an eligible visa
- Have a reliable source of income
- Have good credit score
If you are a temporary resident, or have bad credit, you could still get approved for a credit card. The number of cards to choose from will be limited, however, and you may need to supply additional supporting documentation with your application.
How to apply for a credit card
You can apply for a credit card online over the phone, at a bank, and even at the checkout at certain stores. A typical credit card application process can take between 15 and 20 minutes.
As part of the application, you’ll need to provide the card issuer with supporting documentation. This is so they can assess your ability to comfortably meet repayments, and to determine your credit limit. You’ll be asked for:
Personal details
Valid ID, such as a driver licence or passport
Employment history and current salary (verified with payslips)
Your assets - such as your home and motor vehicle
Your current expenses and other loans you may have
Remember, a declined application could affect your credit score, and make it difficult to gain approval for a loan or credit card in the future.
Credit card pros and cons
Pros
- Financial back up if you need it
- Offers payment and cash-flow flexibility
- Some cards come with no annual fees and/or 0% interest
- Insurance and fraud protection often included
- A lot of cards offer rewards
- If repaid in full consistently, may help build your credit score
Cons
- Can encourage overspending
- High interest rates and fees on some cards
- Not always obvious if rewards and perks are worth the cost
- Your card limit could impact future loan applications
- Cash advances can be particularly expensive
- Can damage your credit score if you miss repayments
Is a credit card worth it for me?
(Expert tips)
If used responsibly, a credit card can be a handy tool for your day-to-day finances. But they're not for everyone, explains David Rankin, financial coach at Sort My Money and former bank manager at ANZ and Westpac.
