Credit cards make a comeback with killer new offers

Credit cards are staging a come-back in 2022, with a wave of fresh new card offers hitting the market that at first glance seem almost too generous to be true. But there’s a bigger story driving this wave of apparent generosity, and it’s one that cardholders are set to benefit from.

After years of declining rewards, steep fees and charges, and even steeper competition from new payment options like debit cards and buy now pay later, credit card providers are now being forced to reverse the trend and deliver real consumer value to combat competition from the likes of Afterpay and Zip.

As a result we’re now seeing interest-free days extend out to as much as 110 days, 0% balance transfer offers up to 36 months and annual fees on some low rate cards drop below $50. On the perks front, the popular Westpac Low Rate card has a new $400 cashback offer and Virgin Money is offering new Velocity Flyer cardholders the chance to earn a whopping 100,000 bonus points.

So no matter whether you’re looking to clear your debt with a 0% balance transfer, save on interest and fees or get better value out of your rewards, now is an ideal time to check out some of the top credit card offers on the market.

1. Enjoy up to 110 days interest-free on your spending

humm90 - Platinum Mastercard
  • Australia’s most generous interest-free card - up to 110 days interest-free
  • No foreign transaction fees for online and overseas purchases
Find out more

The new Humm90 Mastercard offers 0% interest on purchases for up to 110 days - twice as long as the average credit card. And that’s not the only way to avoid paying interest charges with this clever card, as cardholders can also access up to 60 months interest-free finance with key retail partners. For cardholders looking to clear existing credit card debt, Humm90 has just introduced a market-leading balance transfer offer of 0% p.a. interest for 36 months. 

2. Get up to 20 months interest-free on purchases and balance transfers

Bendigo Bank - Low Rate Credit Card
  • 0% p.a. on purchases and balance transfer for up to 20 months from account opening
  • Low $45 annual fee and 11.99% p.a. ongoing purchase rate

The Low Rate Credit Card from people’s favourite Bendigo Bank offers a triple scoop of generosity with 0% p.a. interest on purchases and balance transfers for the first 20 months after opening your account, a low ongoing interest rate of 11.99% and a low $45 annual fee. Cardholders also enjoy up to 55 days interest free, zero fees for additional cardholders, 24/7 fraud monitoring and no liability for unauthorised transactions. 2% balance transfer handling fee applies. Apply by 31 July.

3. Earn up to 100,000 bonus Velocity points in the first 4 months

Virgin Money - Virgin Australia Velocity Flyer Card - Bonus Points Offer
  • 0% p.a. on balance transfers for 18 months
  • Reduced $64 annual fee in the first year ($129 thereafter)
Find out more

This generous bonus points offer from Virgin Money makes its popular Velocity Flyer card even more appealing. New cardholders can earn 25,000 bonus Velocity Rewards points on a monthly spend of $1,500 or more in the first 4 months from card approval (totalling a whopping 100,000 points), and will continue to earn points on everyday spend after the intro period. As an added bonus, Virgin is also halving the annual fee in the first year from $129 to just $64.

4. Zero interest on balance transfers until April 2024

Great Southern Bank - Low Rate Credit Card
  • 0% p.a. interest on balance transfers for 18 months
  • Low 11.99% p.a. ongoing rate and $49 annual fee ($0 in first year)

This hidden gem of a credit card from Great Southern Bank (formerly known as CUA) has a refreshingly low purchase rate and annual fee, and if that’s not generous enough they’ve also thrown in a generous 0% balance transfer offer for 25 months. Cardholders enjoy up to 55 days interest-free and the low $49 annual fee is waived completely in the first year, making this card a top contender for anyone looking for a great value credit card for everyday purchases minus all the bells and whistles. 

5. Get $400 cashback

Westpac - Low Rate - Cashback Offer
  • Earn $400 cashback by spending $4k on eligible purchases in the first 4 months
  • Low 13.74% purchase rate

This generous new cashback offer from Westpac makes its popular Low Rate card even more appealing. New cardholders can earn up to $400 cashback - that's $100 cashback for each month you spend $1,000 or more on eligible purchases in the first 4 months from card approval. The purchase rate is a low 13.74% and cardholders can enjoy up to 55 days interest free on purchases.

Want to compare more credit cards? Head over to our credit card comparison hub to see more top March 2022 credit card offers and compare over 200 cards from 60 providers. 

^See information about the Mozo Experts Choice Credit Card Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.