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 new PayPal rewards card gives you points to spend at over 750,000 PayPal eligible businesses.

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. Get 50K bonus points to spend at 750K+ eligible PayPal businesses

PayPal Rewards Card
PayPal
  • 0% on balance transfers for 20 months

  • $0 annual fee and uncapped rewards points earning

The new PayPal rewards credit card is designed for those who love rewards and don't want to be told where to spend them. The generous PayPal rewards program lets you earn 1 point for every $1 spent on eligible transactions, uncapped, and spend points at over 750,000 eligible PayPal businesses. Plus there's a bonus 50K points offer for new cardholders, worth $250. Other generous benefits include 0% on balance transfers for 20 months, $0 annual fee and up to 55 interest free days on purchases.

2. 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. Apply by 31 October.

3. 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. 

4. 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.

5. Low purchase rate + annual fee plus generous 0% BT offer

Great Southern Bank Low Rate Credit Card
Great Southern Bank
  • 0% on balance transfers for 20 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 0% balance transfer offer for 20 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. 

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