Credit cards make a comeback with killer new offers

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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 33 months and annual fees on some low rate cards drop below $50. On the perks front, Virgin Money is offering new Velocity Flyer cardholders the chance to earn a whopping 100,000 bonus points in the first four months after card approval, while the innovative Freestyle Virtual MasterCard from MoneyMe earns you credit back from 1,400 stores.

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

Virgin Money Virgin Australia Velocity Flyer Card - Bonus Points Offer
Virgin Money
  • 0% p.a. on balance transfers for 18 months

  • Reduced $64 annual fee in the first year ($129 thereafter)

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.

3. Zero interest on balance transfers until October 2024

Great Southern Bank Low Rate Credit Card
Great Southern Bank
  • 0% p.a. interest on balance transfers for 33 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 33 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.  

4. Introductory 0% purchase rate for first 18 months

Bendigo Bank Low Rate Credit Card
Bendigo Bank
  • 0% p.a. on purchases for up to 18 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 for the first 18 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. Apply by 28 February 2022.

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

MoneyMe Freestyle Virtual Mastercard
  • 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, enjoy up to 55 days interest-free on purchases 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 January 2022 credit card offers and compare over 200 cards from 60 providers.