Credit cards make a comeback with killer new offers

Mozo

03 Apr 2021

Ol article image fingernail girl content

Credit cards are staging a come-back in 2021, 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 0% balance transfer offers extend out to as much as 30 months, purchase rates drop under 10% and annual fees on some low rate cards drop below $50. On the rewards and perks front, Citi is now letting cardholders pay for almost anything with points and Amex is offering a limited time $300 cashback plus 90,000 sign up points on its popular Explorer card.

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 market.

1. Zero interest on balance transfers until November 2023

Citi Rewards
Citi
  • 0% p.a. interest on balance transfers for 30 months

  • Discounted $49 annual fee in first year ($149 thereafter)

Featuring one of the most generous 0% balance transfer offers on the market plus a discounted annual fee in the first year, the Citi Rewards credit card is a top contender for those looking to save on interest and get on top of credit card debt. There is no balance transfer fee and once you’ve cleared your balance you can enjoy up to 55 interest free days on purchases and earn points on your spending through the Citi Rewards program.

2. Intro rate of 3.99% p.a. + low ongoing rate of 8.99% p.a.

Defence Bank Foundation Credit Card
Defence Bank
  • 3.99% p.a. for 6 months on purchases, balance transfers & cash advances

  • Low 8.99% p.a. ongoing rate and $49 annual fee

This hidden gem of a credit card from Defence Bank has one of the lowest ongoing rates around, and if that’s not generous enough they’ve also thrown in a 6-month intro rate of just 3.99% p.a. on purchases, balance transfers and cash advances. Cardholders enjoy up to 55 days interest free and the same low ongoing rate for purchases and cash advances. You don’t have to be a member of the Defence Force to get the card, just an Australian resident over 18.

3. 90,000 bonus points and $100 Coles eGift Card bonus offer

Citi Rewards - Bonus Points Offer
Citi
  • Get bonus points worth a cool $400 in digital gift cards

  • Enjoy a $100 Coles eGift Card and annual fee discount

The Citi Rewards Bonus Points offer is jam-packed with generosity. First up, there’s 90,000 bonus points to collect simply by spending $3,000 within 90 days of card approval. What’s more, they’ll also discount the first year annual fee from $149 to $49 and give you a $100 Coles eGift Card for good measure. You can earn 1 Citi reward point per dollar spent on the card and pay with points for almost anything - simply redeem points for purchases to get a credit back.

4. All-round generosity with a low rate, low fee and 0% BT offer

Bendigo Bank Low Rate Credit Card
Bendigo Bank
  • Low $45 annual fee and 11.99% p.a. purchase rate

  • 0% p.a. on balance transfers for 24 months (2% balance transfer fee applies)

The Low Rate Credit Card from people’s favourite Bendigo Bank offers a triple scoop of generosity with 0% p.a. interest on balance transfers for 24 months, a competitive purchase rate and balance transfer revert rate of just 11.99% p.a. and a low $45 annual fee. You’ll also enjoy up to 55 days interest free on purchases, 24/7 fraud monitoring and no liability for unauthorised transactions.

5. $0 annual fee in first year and 0% on balance transfers for 26 months

Bankwest Breeze Mastercard
Bankwest
  • 0% p.a. on balance transfers for 26 months (2% balance transfer fee applies)

  • Zero annual fee in first year ($49 thereafter)

Featuring one of the most generous 0% balance transfer offers on the market, a low annual fee that's waived completely in the first year and a low purchase rate of 10.99% p.a., the Bankwest Breeze MasterCard is a top contender for those looking to save on interest and get on top of credit card debt. What's more, once you’ve cleared your balance you can enjoy up to 55 interest free days on purchases.

^See information about the Mozo Experts Choice Credit cards Awards

Want to compare more credit cards? Head over to our credit card comparison hub to see more top March 2021 credit card offers and compare over 200 cards from 60 providers.