Five credit cards that seem too generous to be real: November 2021

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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, 0% balance transfer offers up to 33 months and annual fees on some low rate cards drop below $50. On the perks front, Westpac and Humm90 are offering new cardholders $400 cashback on eligible spending of $4,000 in the first 120 days 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 up to 110 days interest-free on your spending plus $400 cashback

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

  • $400 cashback when you spend $4,000 on eligible purchases within first 120 days

The new Humm90 Platinum Mastercard offers 0% interest on your spending for up to 110 days - twice as long as the average credit card. And that’s not the only way to avoid interest with this clever card, as cardholders can also access up to 60 months interest-free finance with key retail partners. There is no annual fee in year one ($99 thereafter), no foreign transaction fees for online and overseas purchases, and for a limited time new cardholders can get $400 cashback when spending $4,000 on eligible purchases within the first 120 days.

2. Zero interest on balance transfers until August 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. 

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. 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, enjoy up to 55 days interest-free on purchases and get credit back offers from over 1,400 stores.

5. 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.

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