5 credit card features you may not know about (and might save you money)

woman researching credit card features on her laptop

If you’re new to the world of credit cards, you may not be aware of some of the perks you can get with some cards. 

Depending on the card, you could get handy features such as free travel insurance, purchase protection or the ability to earn rewards points.

While cards that offer these sorts of perks usually come with higher interest rates or fees, the upside can be worth it.

So, if you’re in the market for a new credit card and the sound of these perks appeal to you, find out more about how they work.

Rewards Points Credit Cards

If you opt for a rewards credit card, you can earn points as you spend. This  can then be cashed in for perks such as free flights, accommodation or groceries.

Depending on the credit card provider you choose, you can earn Qantas Frequent Flyer Points, Velocity Frequent Flyer Points or American Express Membership Rewards. 

Each rewards system works differently so it’s important to read the T&Cs to make sure it’s right for you before deciding on a card.

Some credit cards even come with bonus point offers where you can earn thousands of points if you spend a certain amount within a particular time frame after getting your card.

Interest-free days on your credit card

Most credit cards come with a certain amount of interest-free days.

Essentially, interest-free days are a short period after you make a purchase on your credit card to pay it off before being charged interest. 

Currently in the Mozo database, there are over 200 credit cards that offer interest-free days, from 44 all the way to 110.

It’s important to note that the interest-free period does not start every time you make a purchase - it starts from when you get your statement. Here’s a breakdown of it using a card with 55 interest-free days:

interest free days credit card explainer graphic

Ultimately, the more interest-free days you have the better, because it means you have longer to pay off your debt without being charged interest. Just remember though, you need to pay off your balance in full by the due date to avoid being charged interest.

Purchase protection 

Some credit cards come with purchase protection. This means that things you buy on your credit card are covered under your card’s purchase protection policy if lost, stolen or accidentally damaged.

Be aware there will be different terms and conditions depending on the card provider and the policy. While some policies may cover a cracked phone screen, others may not so be sure to read over the policy before signing up so you know what you’re covered for.

Extended warranty

Many Aussie retailers offer manufacturer’s warranties on their products, and some platinum and rewards credit cards also offer extended warranties. This simply means that when you buy something on your credit card, the warranty on the item is extended, so it’s protected for longer.  

Price protection 

It can be frustrating when you buy a product from one retailer and find it cheaper somewhere else. This is where price protection on your credit card can come in handy.

Some credit card providers offer this type of perk, where if a consumer purchases an item using the card but finds it cheaper somewhere else, they can be refunded the difference. In this instance, cardholders must alert their credit card provider of the cheaper item and meet any conditions under the cover (such as a time limit or minimum price difference). With that in mind, make sure you read through the price protection policy so you’re aware of all the T&Cs.

Complimentary travel insurance

Another big bonus feature available on some rewards and travel credit cards is complimentary travel insurance. This may come in the form of international travel insurance, interstate flight insurance or transport accident insurance. These types of insurance cover things like flight cancellations or delays, emergency cover, luggage loss or travel illness or accidents.

Bear in mind, in most cases you need to activate your travel insurance before your trip to be covered by the time you leave. This usually involves spending a certain amount on travel expenses on your card prior to your departure, such as flights or accommodation.

Make sure you read the T&Cs because there may be limits on the amount of cover you receive under a free policy from your credit card provider. You may even have to take out additional travel insurance to ensure that you’re fully covered. 

Compare credit cards - last updated 19 March 2024

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure
  • NAB Low Rate Card - Balance Transfer Offer

    Spend with confidence with a low 13.49% p.a. variable purchase rate and 0% p.a. interest on balance transfers for the first 28 months (T&Cs apply). 2% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget better when you make minimum repayments. Minimum credit limit $1,000. No annual fee for the first year (usually $59).

    Purchase rate
    13.49% p.a.
    Balance transfer rate
    0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
    Annual fee
    $59 $0 in the first year
    Rewards program
    -
    Compare
    Details
  • American Express Platinum Edge Credit Card

    Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply online and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $195 $0 in the first year
    Rewards program
    Membership Rewards
    Compare
    Details
  • Apply By 2 Apr 2024
    American Express Qantas Ultimate Card

    Receive 100,000 bonus Qantas Points when you apply online by 2 April 2024 , are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $450
    Rewards program
    Qantas Frequent Flyer
    Compare
    Details
  • American Express Explorer® Credit Card

    Receive 50,000 bonus membership rewards points when you apply online, are approved, and spend $4,000 on eligible purchases on your new card within the first 3 months (T&Cs apply). New Card Members only. Complimentary domestic & international Travel Insurance (T&Cs apply). Up to 55 days interest free on purchases. $395 annual fee.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $395
    Rewards program
    Membership Rewards
    Compare
    Details
  • G&C Mutual Bank Platinum Visa Credit Card

    Receive 50,000 bonus Qantas Points when you apply, are approved, and spend $5,000 on eligible purchases on your new G&C Mutual Bank Platinum Visa Credit Card within 90 days. T&Cs apply. Available to new G&C Mutual Bank Card Members only. Earn 10,000 bonus Qantas Points annually. T&Cs apply. Access Platinum Visa Concierge. Add an additional cardholder at no extra cost.

    Purchase rate
    19.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $299
    Rewards program
    Qantas Frequent Flyer
    Compare
    Details
  • Apply By 15 May 2024
    American Express Velocity Platinum Card

    Earn 100,000 bonus Velocity Points when you apply online by 15 May 2024, 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.

    Purchase rate
    23.99% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $375
    Rewards program
    Velocity Frequent Flyer
    Compare
    Details

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