Australia’s Best Value Credit Cards Revealed

Drum roll please… Mozo’s money experts have scoured the credit card market and compared 203 credit cards from 57 Australian providers – and we can now unveil the razzle and dazzle of the credit card world with our brand new Experts Choice Awards.

What are the Mozo Experts Choice Awards?

Here at Mozo, our goal is to help Australians save money by finding better banking and insurance deals. Our team of money experts spend their days sifting through the fine print and financial terms of thousands of products to make it easy for Aussies to compare and save using our award-winning comparison tools.

The Mozo Experts Choice Awards go one step further to showcase the products that our expert researchers have found to offer the best value in the market… starting with the best credit cards.

In case you’re wondering, our banking friendships don’t have any influence on the awards. We simply asked: which credit card offers the best value to the typical credit card holder in four key categories and crunched the stats to find out.

Sauntering the Experts Choice Awards red carpet are:

Best Low Rate Credit Card

community-first-gtsCommunity First, McGrath Pink Visa

The McGrath Pink Visa wins the gold medal for being the cheapest credit card for an average outstanding balance of $4,400, over five years. This card has an 8.99% ongoing interest rate – the lowest in the market for both purchases and cash advances – and as an added bonus half of the $40 annual fee is donated by Community First to the McGrath Foundation each year you have the credit card.

STOP THE PRESSES: Community First has just announced an exclusive 4.74% pa offer for the first 9 months on purchases, cash advances and balance transfers.

 

Best Fee Free Credit Card

bankwest-zero-platinum-gtsBankwest, Zero Platinum

Bankwest takes first place on the podium with its competitive Zero Platinum found by our experts to be the best card for those looking to avoid charges as long as they are paying their outstanding balance in full each month. With no annual fee, no foreign exchange fee and 55 interest free days, this card is great value. It also gives cardholders benefits like concierge and overseas travel insurance.

 

 

Best Balance Transfer Credit Card

police-bank-visa-gtsPolice Bank, Police Bank Visa

The medal for cheapest credit card for clearing an existing debt goes to Police Bank’s Visa credit card. Our experts ran balance transfer scenarios for the average debt of $4,400 and this card tops the field due to its competitive 0% balance transfer interest rate and low 10.96% revert rate after the balance transfer offer ends. What’s more, this card is not just restricted to members of the police.

 

 

Best Premium Credit Card

bankwest-zero-platinum-gtsBankwest, Zero Platinum

The award for the most wallet-friendly credit card with popular premium card benefits – concierge, travel insurance, warranty extension, purchase insurance – goes to Bankwest’s Zero Platinum which offers all of these benefits for no annual fee and a relatively low platinum card interest rate of 17.99%. If you’re looking for the added perk of a rewards program… watch this space for a future Mozo Expert’s Choice Awards category!

That’s a wrap-up of the star performers in the credit card world! The reputable runners up are well worth a look, see the full list of credit card winners at the Mozo Experts Choice Credit Card Awards hub here.

Australia’s Best Value Credit Cards Revealed was last modified: June 29, 2015 by Mozo

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