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Receive 50,000 bonus Qantas Points1 when you apply online by 1 July 2025, are approved, and spend $5,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
Receive 50,000 bonus Qantas Points1 when you apply online by 1 July 2025, are approved, and spend $5,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
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Receive 60,000 Bonus Membership Rewards® Points when you apply online by 1 July 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Essential® Rewards Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 60,000 Bonus Membership Rewards® Points when you apply online by 1 July 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Essential® Rewards Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
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No annual fee for the life of the card plus collect 1 Flybuys point per $2 on eligible purchases up to $5,000 in each Statement Period (T&Cs apply). Get access to complimentary travel insurance. Apple Pay, Samsung Pay and Google Pay compatible. Up to 44 days interest free on purchases when you pay your account in full by the monthly due date.
No annual fee for the life of the card plus collect 1 Flybuys point per $2 on eligible purchases up to $5,000 in each Statement Period (T&Cs apply). Get access to complimentary travel insurance. Apple Pay, Samsung Pay and Google Pay compatible. Up to 44 days interest free on purchases when you pay your account in full by the monthly due date.
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Receive 75,000 Bonus Membership Rewards® Points when you apply online by 1 July 2025, are approved, and spend $4,000 on eligible purchases on your new American Express Explorer® Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 75,000 Bonus Membership Rewards® Points when you apply online by 1 July 2025, are approved, and spend $4,000 on eligible purchases on your new American Express Explorer® Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
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Receive 20,000 bonus Velocity Points1 when you apply online by 9 September 2025, are approved, and spend $1,000 on eligible purchases on your new American Express Velocity Escape Plus Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 20,000 bonus Velocity Points1 when you apply online by 9 September 2025, are approved, and spend $1,000 on eligible purchases on your new American Express Velocity Escape Plus Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
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Score $400 Cashback when you spend $5,000 on purchases within 150 days from account opening (T&Cs apply). 0% p.a. on balance transfers (BT) for 12 months. A 3% balance transfer fee applies. Unpaid balance transfer reverts to variable cash advance rate. Up to 55 days interest free on purchases when you pay your account in full by the monthly due date.
Score $400 Cashback when you spend $5,000 on purchases within 150 days from account opening (T&Cs apply). 0% p.a. on balance transfers (BT) for 12 months. A 3% balance transfer fee applies. Unpaid balance transfer reverts to variable cash advance rate. Up to 55 days interest free on purchases when you pay your account in full by the monthly due date.
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Receive 60,000 bonus Velocity Points1 when you apply online by 12 August 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Velocity Platinum Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 60,000 bonus Velocity Points1 when you apply online by 12 August 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Velocity Platinum Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Read reviews and learn more about American Express credit cards
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With a credit card, you can borrow money on demand to make purchases. The amount you can borrow is capped at a certain amount, known as your credit card limit.
Any money that you spend using your credit card, including on purchases, cash advances, and balance transfers, must be repaid.
Each month, you will receive a credit card statement that outlines how much credit you’ve used (your balance), the minimum repayment amount, and the due date.
If you repay your balance in-full before the due date, you can avoid paying interest on your purchases.
Credit cards can also come with interest-free periods on eligible purchases. In Australia, interest-free periods are typically 44 to 55 days long, but can vary depending on the provider.
There are a range of credit card types available in Australia so it is impossible to select a best credit card for everyone, as what is important is to find the best credit card for you. This depends on what you’re looking to get from your credit card. For example, are you hoping to earn rewards or airline points on your purchases? Then a rewards credit card will likely suit your needs best. Are you looking to transfer debt? You should check out credit cards with 0% p.a. balance transfer offers. No matter what it is that you prioritise, there are a lot of good credit card options. See below a list of the types of credit cards for you to review.
A low interest credit card typically has a low interest rate for purchases, which could help you to save money if you don’t always pay off your balance in-full each month.
The trade-off of a low-interest rate credit card is that these ‘no-frills’ credit cards usually don’t have rewards programs, perks, or bonuses.
Rewards credit cards are a popular way to earn something back while you spend using your credit card. Credit card rewards are usually tied to airline frequent flyer, brand-specific, or supermarket rewards programs, and typically revolve around accruing points, which can be redeemed later down the track.
The downside is that rewards credit cards often come with higher fees and interest rates than no-frills cards. This means you’ll want to make the most of your credit card rewards points and ensure you pay off your balance in-full, to avoid paying interest.
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With a balance transfer credit card, you can roll over your existing credit card debts to a new card and enjoy 0% interest (or a very low rate) on your balance, for a limited time. Balance transfer introductory periods can last anywhere from 5 to 30 months, but it’s more common to see 12-month offers, according to the Mozo database.
After it ends, your credit card rate will revert to the purchase or cash advance rate, which can be quite a shock to your finances. That’s why, during this time, it’s a great opportunity to pay down your credit card debt as much as possible. That way, by the time the balance transfer period ends and you need to start paying interest, you don’t get further into debt.
Balance transfer fees, which is usually a percentage of the amount you’re transferring, may apply. So, factor that into your decision when comparing credit cards.
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No annual fee credit cards don’t charge customers a yearly fee in order to use their cards. They usually still have other fees, such as late payment and foreign exchange fees, and the trade-off is sometimes a steep interest rate on purchases.
If you’re the kind of person who pays off their credit card balance in-full and won’t have to worry about being charged interest, then a no annual fee credit card could be a money-saving match.
There are various types of interest-free credit cards on the market, which can include balance transfer and introductory-rate credit cards.
However, there are also interest-free credit cards that instead charge a monthly or annual fee. This type of card usually has a lower credit limit (e.g. $1,000 or $3,000), with a fee that scales alongside it (e.g. $10 or $30/month).
In some cases, these 0% interest, monthly fee credit cards will waive your fee if you haven’t used your card, or paid off your balance in-full.
Examples of interest-free, monthly fee credit cards include the Westpac Flex Card, NAB StraightUp Card, and Community First Bank n0w Credit Card.
Travel credit cards are tailored to those who like to splash out overseas. From no overseas transaction or ATM fees, to earning Frequent Flyer points, travel credits, and even complimentary travel insurance, these credit cards can help you save money while travelling for work or play.
The catch, however, is that travel cards tend to charge you high interest rates. So, it’s important to weigh up whether a card’s travel perks outweigh its interest rate.
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Platinum credit cards typically come with much higher credit limits and, as a result, have stricter eligibility criteria. However, what makes platinum credit cards appealing are the perks that often come with them.
Platinum credit card perks can include complimentary insurance, flight upgrades, airline discounts, concierge services, exclusive rewards programs, and more.
This type of credit card is often only available to those with high incomes and good credit scores, partly due to the perks, and partly due to the higher cost of using these cards.
Credit cards, while useful, definitely have their risks. However, using your credit card responsibly can greatly reduce the potential risk they have.
For example, if you only ever make minimum payments on your credit card balance, your debt can snowball, thanks to compound interest. Runaway credit card debt can prove extremely stubborn to clear.
Missing credit card payments altogether can also negatively affect your credit score and result in late fees that pile up, only adding to your debt more.
By making sure that you don’t overspend on your credit card, and pay it off on time and (when possible) in-full, you can enjoy the benefits of a credit card without the potential downsides.
Credit cards do have fees, but not all cards charge the same amount for the same thing. Common credit card fees can include:
Some credit card providers may waive or discount your annual fee for the first year, as an introductory offer. Those that charge a monthly fee, which are oftentimes interest-free credit cards, may even waive your fee for paying your balance off in-full.
When you’re choosing a credit card, make sure to read through the product’s terms and conditions, so that you can understand all the costs involved with using your new card.
When you’re choosing a credit card to get, make sure it’s the right one for you by looking at a few of the key features of the cards you’re interested in.
Here’s some steps you can take to compare different credit card options:
Most credit card providers have preferences for who they’ll approve a credit card for. While your application’s success can depend on factors like your credit score, your income, and more, you'll have the best chance of getting approved if you meet the eligibility criteria before applying. Generally these can include:
Of course, this is a generalisation. But, having a steady income and low debt can really bolster your chances of success.
The factors that can affect credit card approval include:
When you apply for a credit card, you will need to have documents that show proof of identity, income and expenses.
You can usually apply for a credit card online, either through the bank’s website or app. However, it’s also possible to talk to a credit card provider in-person, in a bank branch.
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Most credit cards offer a certain number of interest-free days on eligible purchases. Known as an interest-free period, this is the maximum number of days after making a payment before you’re charged interest for it – provided you have paid off your closing balance by the due date.
To avoid paying interest on your credit card, make sure that you pay off your closing balance before your credit card bill is due. If you still have money owing on your credit card at the end of the month, then this is what the bank will use to calculate interest.
A cash advance refers to using your credit card to get cash, rather than spending it on goods or services. Examples of when cash advances apply include withdrawing money from an ATM and transferring money from your credit card account to another account.
Most credit cards charge a fee for cash advances and interest for not paying them back before the due date. Cash advance interest rates are typically higher than a credit card’s purchase rate.
A balance transfer moves your existing credit card debt to a new credit card. Balance transfer credit cards typically charge very low or 0% interest for a set period (e.g. 12 months), allowing you to pay down your credit card debt without more interest being added to it. If you can’t pay off your balance on time, it could cost you more.
If you can’t pay your credit card bill, you risk getting into more credit card debt and hurting your credit history. But there are ways to get out of or reduce credit card debt.
Your first port of call is to get in contact with your card issuer’s hardship department. The sooner they know about your issue, the sooner an action plan can be put in place to help. By explaining your situation to them, they may offer to put together a repayment plan, based on what you can afford. This can include freezing interest on your card and allowing for smaller repayments, among other things.
If your credit score is too low, or you have a bad credit history, then your credit card provider may reject your application.
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