In the market for a new credit card? It can be hard to find the piece of plastic that perfectly suits you - especially considering there are currently a whopping 205 cards to choose from in Mozo’s database.
But whether you’re looking for a way to blast debt, spend conveniently and cost effectively or bag freebies and rewards, we’ve made it easy to find the right card for your needs, with this list of the best credit cards in March 2017*.
Check out our Money Editors’ top picks:
For budget conscious spenders
Low rate cards
ANZ Low Rate
Key features:
12.49% purchase rate
$58 annual fee
Up to 55 interest free days
What we think: If all you want from your credit card is a convenient way to spend that won’t cost you an arm and a leg in interest and fees, then this is a worthy contender. There are no bells and whistles with this card, but you will get a low ongoing rate and annual fee, plus, you can use it anywhere in the world where MasterCard is accepted.
$0 annual fee in the first year for existing customers ($99 otherwise)
Up to 55 interest free days
Complimentary insurance covers
What we think: Who says “low rate” has to mean you can’t enjoy premium perks? Packing a low interest rate and an annual fee under $100, this platinum plastic also comes with a range of free insurance covers, including overseas travel insurance and extended warranty on your purchases.
What we think: This piece of plastic is perfect for the practical spender. It’s very wallet-friendly since there’s no annual fee to worry about, plus, you can earn Flybuys points, which will save you even more money on your shop. The only thing for frugal spenders to keep in mind is the reasonably high purchase rate - but pay your balance in full and on time each month and it won’t be a problem.
What we think: If you’re after a no frills piece of plastic this is a great, low maintenance option. You won’t earn any rewards or freebies - but with absolutely no annual fee, this card is a budget-friendly way to get the convenience of plastic, including payPass functionality. Just remember to pay off your balance in full each month to avoid paying interest on your shopping.
0% balance transfer offer for 12 months (1% establishment fee)
14.99% revert rate
Mozo Experts Choice Award winner
What we think: It’s no wonder this piece of plastic won an Experts Choice Award for best value balance transfer offer - with 12 interest free months to pay off your credit card debt, a low revert rate and no annual fee at all, it’s super wallet-friendly. This is a great option for savers wanting to clear existing debt, and then continue to spend on the same card.
What we think: This new offer comes with the longest balance transfer period in the market at the moment, giving you a very leisurely 36 months to pay off your debts. The trade-off is that you will pay 3.00% interest during that period - but for spenders who will need to chip away at their debt little by little, this card offers the opportunity for significant savings.
Top tip: this offer is available exclusively online through sites like Mozo, so if you want it, snap it up using the link below.
Update: This offer is no longer available. You can check out other credit cards from St.George here.
For those who love a little something extra
Bonus rewards cards
NAB Rewards Platinum Card
Key features:
80,000 bonus points when you spend $2,500 on purchases in the first 90 days
Use rewards points to book flights with any airline
1 point per $1, uncapped
$0 annual fee in the first year ($195 after)
What we think: For a straightforward rewards card, with a very generous bonus points offer and plenty of redemption options, you can’t go past this deal. It’s best suited to big spenders who can meet the purchase criteria for the bonus points - especially those who love to travel, since the flexible rewards program allows you to snag flights on any airline through Webjet.
Earn up to 75,000 bonus Qantas Points plus 75 Bonus Status Credits
1 free domestic return flight per year
Earn up to 2.5 Qantas Points per $1 spent on eligible purchases
Up to two free entries per year to the American Express Lounge at Sydney International Airport T1.
What we think: If you love to travel and want all the bonus rewards value you can get your hands on to go towards your next trip, then this is the card for you. The bonus offer not only includes Qantas points, but also Bonus Status Credits, which will bump you up the ranks of the Frequent Flyer program. So if you’re a Qantas fan who spends big and pays off their balance each month, this one’s a winner.
1 point per $1 spent up to $2,500 (then 0.5 points)
1 bonus point per $1 spent on selected Qantas products
60,000 bonus Qantas Points (when you spend $3,000 in the first 3 months)
Complimentary features like concierge and travel insurance
What we think: If you fly with Qantas regularly, then you can snag great value with this rewards plastic. Not only can you earn a tonne of bonus points, but you’ll also get use of a bunch of premium features, including a concierge service and two free Qantas Club lounge invitations when you make an eligible purchase within 3 months of getting the card. Not too shabby!
Virgin Money Virgin Australia Velocity High Flyer Card
Key features:
Earn up to 30,000 bonus Velocity points
Receive a $129 Virgin Australia gift voucher each year
Mozo's Experts Choice Awards Winner 2016
$144 annual fee in the first year ($289 after)
What we think: There’s plenty of rewards value on offer here for travellers who prefer to fly Virgin, from bonus points, to gift vouchers, to passes into the Virgin Australia Domestic lounge. But all this does come with a pretty steep annual fee attached - so this card is best suited to spenders who’ll get enough value from the travel freebies to justify the price tag.
50,000 bonus rewards points (when you spend $1500 in the first 3 months)
$400 annual travel credit
2 rewards points for every $1 spent
$395 annual fee
What we think: This credit card is made for big spenders - you’ll need to earn at least $65,000 to apply for it. Like most premium card options, it comes with a hefty annual fee, so make sure you’ll get enough value from the rewards on offer to justify the cost. Luckily, there are a tonne of rewards to choose from and between rewards points, travel perks and free insurances, you’re bound to find something you like.
Or head to the American Express website to Apply Now.
Westpac Altitude Black
Key features:
0% purchase rate for 6 months (20.24% after)
Earn 3 points per $1 spent on AMEX and 1.25 points on MasterCard
$0 annual fee in first year for existing Westpac customers ($395 otherwise)
Complimentary features like travel insurance and concierge
What we think: Black credit cards are the pinnacle of luxury spending - and this one is no exception. You can choose either the rewards or Qantas version, to better streamline your redemption options, and enjoy free perks like two priority airport lounge passes each year which you can use at over 600 lounges around the world, and Elite Gold Preferred Guest Membership status with Starwood Hotels after just one night stay. Just remember, all this luxury comes with a sizeable price tag.
Don’t see one that blows you away? No problem! All you need to do is head over to our credit card comparison tool and search the other 193 options in our database.
*All rates and offers mentioned in this article are correct at time of writing, but may be subject to change. Please check the full Mozo review for each product for the most up-to-date information.
Disclaimer
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'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
Important information on terms, conditions and sub-limits
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
