5 new credit card incentives you need to know about

Ben Tosi

02 Nov 2017

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Providers are upping their game ahead of the Christmas shopping season with the Mozo database seeing a range of inviting changes to existing credit card products over the past few days.

The incentives include new cashback offers, extensions to 0% balance transfer periods, cuts to purchase rates and special bonus point offerings from no less than five credit card providers.

“Credit card providers might be looking to entice customers with these special offers, ahead of the festive season,” said Mozo Director, Kirsty Lamont.

RELATED: Want to earn Qantas Points by booking an Uber? Now you can

“This time of year represents a good chance for Aussies to nab a deal on their new credit card, but which one you choose really does depend on what you plan on using the card for. Make sure you consider not only the freebies on offer, but whether the card is a good choice for you in general,” said Lamont.

Find out who have headlined the most recent changes and what is now on offer:

1. Bonus point offering

If you’re after a quick way to accrue some serious points, ANZ have upped the bonus point offer for holders of its Frequent Flyer Platinum Card. Travel lovers can now earn a whopping 65,000 Qantas Points simply by spending $2,500 on the card within the first three months.

2. Exclusive membership

Spend a lot of money on wine, especially heading into the festive season? Yesterday saw Mozo’s Provider of the Year, American Express add a completely new feature to its Experts Choice winning Qantas Ultimate Card - complimentary Qantas epiQure Premium Membership.

Choose from a range of boutique wines and produce that won’t just taste great but will also earn you bonus Qantas Points.

3. Budget savvy

If you’re after something a little less extravagant, then the newly renamed Bank of us has made some fresh and frugal alterations to its Visa Credit Card. The changes include waiving the $39 annual fee in the first year and a three basis point cut to its purchase rate which now sits at a low 9.99%.

4. Cashback offer

Australia’s biggest banks have also been getting in on the action with Commonwealth Bank making an attractive cashback offer across its Low Rate and Low Rate Gold credit cards. If you want to earn a smooth $300 back on your purchases, you’ll have to apply for the card before the 4th of February 2018 and spend $1,000 within 90 days of the card being activated.

5. Balance transfer offer

If you’ve got existing debt on your current credit card but are looking to make the switch, HSBC recently extended the 0% balance transfer period from 6 to 12 months on its Platinum Qantas Credit Card. This means that you will have a whole year to pay off the debt you’ve moved across from your old card before you start paying the pricey 21.99% cash advance rate.

Nothing here that takes your fancy? Check out Mozo’s dedicated credit card comparison tables to compare a range of products and their features before deciding which piece of plastic is best for you.

Other credit cards on the market

Rates updated daily. Advertiser disclosure.

  • Hot Deal $200 Cashback Offer (T&Cs apply)

    Westpac Low Rate

    0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)

    13.74% p.a.

    $59

    Enjoy 0% p.a. interest on balance transfers for the first 20 months. Get $200 cashback with $1k minimum spend on eligible purchases within 90 days of card approval. 55 interest free days and low on-going rate of 13.74% on all purchases.

    • 13.74% p.a.

    • -

    • 0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)

    • 21.49% p.a.

    • 55

    • 3.00%

    • $59

    • $15.00

    • 2%, Min $2.50, Max $150

    Read our Mozo Review to learn more about the Low Rate

    Details Close

  • Virgin Money Virgin Australia Velocity Flyer Card - Balance Transfer Offer

    0% p.a. for 22 months and then 20.99% p.a.

    20.74% p.a.

    $129 $64 in the first year

    Get in the air with a $129 Virgin Australia Gift Voucher each year. Earn 3 extra Velocity points per $1 spent on top of the standard earn rate for the first 3 months (capped at 10,000 points per month. 0% p.a. for 22 months on balance transfers.

    • 20.74% p.a.

    • -

    • 0% p.a. for 22 months and then 20.99% p.a.

    • 20.99% p.a.

    • 55

    • 64.0

    • 3.30%

    • $129 $64 in the first year

    • $30.00

    • 2.7%, Min $2.70

    Read our Mozo Review to learn more about the Virgin Australia Velocity Flyer Card - Balance Transfer Offer

    Details Close

  • Apply By 30 November 2020

    Qantas Money Qantas Premier Platinum

    0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)

    19.99% p.a.

    $299 $199 in the first year

    0% p.a. for 18 months on Balance Transfers, reverts to cash advance rate thereafter. Earn up to 100,000 bonus Qantas Points when spending $4,000 or more on eligible purchases (T&Cs apply).

    • 19.99% p.a.

    • -

    • 0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)

    • 21.99% p.a.

    • 55

    • 199.0

    • 3.00%

    • $299 $199 in the first year

    • $30.00

    • 3%, min $3.00

    Read our Mozo Review to learn more about the Qantas Premier Platinum

    Details Close

  • ME frank Credit Card

    No current offer

    11.99% p.a.

    $0

    Meet Frank, a low rate credit card with up to 55 interest free days, no annual fee and no strings attached. If simple, hassle free spending is your goal, you and Frank might be a match made in heaven.

    • 11.99% p.a.

    • -

    • No current offer

    • 11.99% p.a.

    • 55

    • 2.30%

    • $0

    • $10.00

    • 2%, Min $4.00

    Read our Mozo Review to learn more about the frank Credit Card

    Details Close

  • ANZ Low Rate

    0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)

    12.49% p.a.

    $58 $0 in the first year

    A simple everyday credit card with $0 annual fee in the first year and 55 days interest free days on purchases when you pay your account in full each month. Includes complimentary insurances. Apply online in just five minutes and receive an answer in 60 seconds. A minimum credit limit of $1,000 applies.

    • 12.49% p.a.

    • -

    • 0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)

    • 20.24% p.a.

    • 55

    • 0.0

    • 3.00%

    • $58 $0 in the first year

    • $20.00

    • 2%

    Read our Mozo Review to learn more about the Low Rate

    Details Close

^See information about the Mozo Experts Choice Credit cards Awards