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

woman researching credit card features on her laptop

When it comes to a credit card, hefty interest rates and annual fees might spring to mind. 

And while it’s true that some cards do have high interest rates and fees attached to them, it may be because they come with a bunch of bonus features. 

Credit card providers include these benefits in their products to help customers save on things like interest and travel insurance, or offer up protections on purchases for a more secure shopping experience. 

While bonus features can sound fun, it is worth considering if you’ll actually take advantage of them. In other words, is the cost of the card (such as the interest rate and fees) worth its benefits?

So what are some of these credit card bonus features? Read on and find out … 

1. Interest-free days 

Currently on the Mozo database, the average credit card interest rate sits at 16.88%. However, over 200 credit cards on the Mozo database offer up interest-free days, from up to 44 all the way to 110. 

What are credit card interest-free days? 


In a nutshell, interest-free days is the period of time after you make an eligible purchase that you won’t be charged interest on that transaction. But the catch is, you don’t receive the maximum amount of interest-free days on every purchase you make. It all depends when in the statement period the transaction occurs. 

Take this example:
Let’s say your card offers 55 interest-free days. Here’s a breakdown of how many interest-free days you’d receive when you make purchases on particular days.

interest free days credit card explainer graphic

Ultimately, the more interest-free days you have the better, as it’ll mean you have longer to pay down your debt without being charged interest. Just remember though, you need to pay down your balance in full by the due date to avoid interest charges. 

2. Purchase protection 

Some credit cards come with a feature called purchase protection. This is where something you buy may be covered under your card’s purchase protection policy if it is lost, stolen or accidentally damaged. 

Depending on the provider and the policy, there are different terms and conditions of purchase protection from credit card to credit card. So while one option may cover a cracked screen on a brand new iPhone, others may not … so it’s worth reading over the policy before signing the dotted line so you know what you’re covered for. 

3. Extended warranty

Many Aussie retailers offer manufacturer’s warranties on their products, and some platinum and rewards credit cards offer extended warranties. What this means is, the warranty on the item you buy is extended, so it’s protected for longer.  

4. Price protection 

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

Some credit card providers offer this type of guarantee, 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 are aware of all the T&Cs. 

5. Travel insurance 

Another big bonus feature that is 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 insurances cover things like flight cancellations or delays, emergency cover, luggage loss or travel accidents. 

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

There may also be limits on the amount of cover you receive and other T&Cs, so you may need to take out additional travel insurance outside of your credit card to be fully covered. 

Want to compare credit card options? Take a look at these hot offers below or jump over to our credit card comparison table for even more!

Compare credit cards - last updated 6 August 2022

Search promoted credit cards below or do a full Mozo database search . Advertiser disclosure
  • Apply By 31 Oct 2022
    Westpac Low Rate - Cashback Offer

    Enjoy a super low rate of 13.74% with 55 days interest free plus up to $200 cashback - $50 cashback for each month you spend $1,000 or more on eligible purchases in the first 4 months from card approval. New Cards only. T&C's and exclusions apply.

    Purchase rate
    13.74% p.a.
    Balance transfer rate
    6.99% p.a. for 12 months and then 21.49% p.a. (1.00% balance transfer fee)
    Annual fee
    $59
    Rewards program
    -
    Details
  • Virgin Money No Annual Fee Card

    Virgin Money No Annual Fee for the life of the card. 0% p.a. for 12 months on purchases (reverts to ongoing purchase rate) and balance transfers (reverts to cash advance rate).

    Purchase rate
    0% p.a. for 12 months then 18.99% p.a.
    Balance transfer rate
    0% p.a. for 12 months and then 20.99% p.a.
    Annual fee
    $0
    Rewards program
    -
    Details
  • Mozo Expert Choice Badge
    American Express Qantas Ultimate Card

    Earn up to 100,000 bonus Qantas Points (75,000 bonus Qantas Points when you apply online by 23 August 2022, are approved, and spend $3,000 on your new Card within the first 3 months, plus an additional 25,000 Qantas Points in your second year upon fee renewal). T&Cs apply. New Card Members only.

    Purchase rate
    20.74% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $450
    Rewards program
    Qantas Frequent Flyer
    Details
  • Virgin Money Virgin Australia Velocity Flyer Card - Balance Transfer Offer

    Get in the air with a $129 Virgin Australia Gift Voucher each year. 0% p.a. for 28 months on balance transfers.

    Purchase rate
    20.74% p.a.
    Balance transfer rate
    0% p.a. for 28 months and then 20.99% p.a.
    Annual fee
    $129 $0 in the first year
    Rewards program
    Velocity Frequent Flyer
    Details
  • Apply By 31 Aug 2022
    St.George Vertigo - Balance Transfer Offer

    0% p.a. for 32 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply.

    Purchase rate
    13.99% p.a.
    Balance transfer rate
    0% p.a. for 32 months and then 21.49% p.a.
    Annual fee
    $55 $0 in the first year
    Rewards program
    -
    Details
  • Apply By 31 Aug 2022
    Mozo Expert Choice Badge
    American Express Platinum Edge Credit Card

    Receive a $200 credit on your Card when you spend $200 or more at Amazon.com.au within the first 3 months plus get 30,000 Bonus Membership Rewards Points when you apply online by 31 August 2022, are approved and spend $3,000 within the first 3 months. T&Cs apply. New Card Members only.

    Purchase rate
    20.74% p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $195
    Rewards program
    Membership Rewards
    Details

^See information about the Mozo Experts Choice Credit Card Awards

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