Credit cards make a comeback with killer new offers

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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 interest-free days extend out to as much as 110 days, purchase rates fall below 12% and annual fees on some low rate cards drop below $50. On the perks front, new Westpac cardholders can earn $400 cashback by spending $4,000 on eligible purchases in the first 120 days after card approval while the Latitude Gem Visa offers all the everyday convenience of a credit card with interest-free buy now pay later options.

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 0% interest on purchases for up to 110 days

humm90 Mastercard
humm90
  • Australia’s most generous interest-free card - up to 110 days interest-free

  • No foreign transaction fees for online and overseas purchases

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. Another clever feature is Humm Wrap, which lets you convert purchases of $250 or more to an interest free instalment plan for a small fee. 

2. All-round generosity with 0% interest for 12 months

Bendigo Bank Low Rate Credit Card
Bendigo Bank
  • 0% p.a. on balance transfers and purchases for 12 months (2% balance transfer fee applies)

  • 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 balance transfers for 12 months, 0% p.a. interest on purchases for 12 months and a low $45 annual fee. After the first year you'll enjoy a competitive purchase rate of just 11.99% p.a. plus up to 55 days interest free on purchases, 24/7 fraud monitoring and no liability for unauthorised transactions. Apply by 31 October.

3. Get $400 cashback plus a low interest rate

Westpac Low Rate - Cashback Offer
Westpac
  • Earn $400 cashback by spending $4k on eligible purchases in the first 120 days

  • No annual fee for the first year ($59 thereafter)

This generous new cashback offer from Westpac makes its popular Low Rate card even more appealing. New cardholders can earn $400 cashback by spending $4,000 on eligible purchases in the first 120 days after card approval. As an added bonus, Westpac is also waiving the $59 annual fee in the first year. The purchase rate is a low 13.74% and cardholders can enjoy up to 55 days interest free on purchases.

4. Everyday credit card convenience with interest-free buy now pay later

Latitude Gem Visa
Latitude
  • Instant 6 months interest-free for purchases over $250

  • Buy now pay later up to 60 months, interest-free

If you’re tossing up between credit cards and buy now pay later, the Latitude Gem Visa credit card could be for you. The card comes with a generous 6-month interest-free introductory offer on purchases over $250, no annual fee and up to 55 interest-free days. Plus, Latitude’s buy now pay later plans range up to 60 months and are available when you spend at thousands of partner retailers like JB Hi-Fi and Apple.

5. Get credit back from 1,400 stores with this virtual card

MoneyMe Freestyle Virtual Mastercard
MoneyMe
  • A virtual card that’s available to use instantly once approved

  • Save with credit back offers from over 1,400 stores

The new MoneyMe Freestyle card is shaking up the credit card world with an innovative virtual credit card and cashback approach. The virtual card can be used instantly as soon as its approved, which according to MoneyMe typically takes less than 60 minutes. Once approved you can use the card to Tap n Pay, transfer money to friends and get credit back offers from over 1,400 stores.

^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 October 2021 credit card offers and compare over 200 cards from 60 providers.