Credit card features

Your credit card has many benefits and features you may not even be aware of; some help you out when travelling, others will save you money while and you can even get a credit card that makes you feel like a celeb! So take a look at Mozo’s comprehensive list of plastic perks so you make the most of your credit card features.

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  • Apply By 31 October 2021
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    Bendigo Bank Low Rate Credit Card

    0% p.a. on purchases for 12 months (Reverts to 11.99% p.a). Also 0% balance transfer for 12 months. Low annual fee of $45 and no fees for additional cardholders.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    0% p.a. for 12 months then 11.99% p.a.
    0% p.a. for 12 months and then 11.99% p.a. (2.00% balance transfer fee)
    $45
    -
    Go to site
    Details
  • Apply By 2 August 2021
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    Kogan Money Black Card

    Kogan Money Black Card has no annual fee and no cap or expiry date on points. It comes with a 55 interest free days on purchases and a 0% balance transfer rate for the first 12 months. Earn up to $400 in Kogan.com Credit, $50 Credit on first eligible spend in 30 days and $350 Credit when you spend $1,500 on eligible purchases in 90 days from card approval.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    20.99% p.a.
    0% p.a. for 12 months and then 21.74% p.a.
    $0
    Kogan Rewards Points
    Go to site
    Details
  • Apply By 30 November 2021
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    St.George Vertigo - Cashback Offer

    $300 cashback when you take out a new Vertigo Credit Card and spend $4k on eligible purchases within 120 days of the new card approval. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    13.99% p.a.
    6.99% p.a. for 12 months and then 21.49% p.a.
    $55 $0 in the first year
    -
    Go to site
    Details
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    MoneyMe Freestyle Virtual Mastercard

    A virtual card that’s available to use instantly once approved (approvals typically within 60 minutes). Tap n Pay, transfer money to friends and get awesome credit back offers from over 1,400 stores.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    16.99% p.a.
    No current offer
    $209 $0 - $149 based on credit limit, $5/month for balances over $20.
    -
    Go to site
    Details

Interest rates:

A low credit card interest rate is usually around 14% while some can be as high as 18%. The interest is not only on calculated on purchases you make but cash advances and balances transfers too. So it’s important to shop around and find a card with a low interest rate, especially if you’re unlikely to pay off your balance in full each month. Compare some of the best low interest credit cards on the market. It may sound too good to be true, but also keep your eye out for interest free credit cards. Enjoy a 0% interest rate on purchases for a period of 3, 6 or even 12 months.

Fees

Before even reading this guide you are probably well aware that credit cards come with a fair share of fees. Be it an annual fee, cash advance fee, late payment fee or overseas currency conversion fees some are hard to avoid. However, if you do your research you can find great deals on no annual fee credit cards, and in a few cases you can avoid an annual fee. Just what you like to hear isn’t it! To learn more about fees, read Mozo’s guide on avoiding credit card fees.

Free travel insurance:

This is a great feature to have, especially when you have the travel bug. A lot of credit card providers will offer complimentary travel insurance to its customers. Mozo found that 87 out of 201 credit cards in our database include free travel insurance. Make sure you read the fine print before you head off to know exactly what is and isn’t covered in your policy. If you need to take out additional comprehensive travel insurance search our travel insurance database.

Travel extras:

Who doesn’t love travel perks and freebies!? Your credit card may offer you a free domestic flight each year, airline lounge access or chauffeur driven airport travel. 

Concierge:

A credit card concierge service has become a popular feature on many rewards cards. Our advice, make the most of it! It is a 24/7 service in which you call a number and get assistance for things like dinner reservations, travel, shopping, personal trainers etc.

Security:

Almost every card has chip technology, so it can’t be copied and put onto counterfeit cards. Also find out from your provider what security guarantees they offer in terms of fraud.

Purchase protection:

Purchase protection is a reassuring feature to have on your credit card, especially if you’re a big spender. The insurance protects you for a set period of time after you have made a purchase and covers theft, damage or even loss of item.

Guaranteed pricing:

There’s nothing worse than purchasing an item then finding that same item advertised a lot cheaper somewhere else. This is where guaranteed pricing insurance comes in handy. When you have this feature on your credit card, your provider will pay you the difference between what you paid and the sale price. 

Rewards:

Get rewarded for your spending with frequent flyer miles, accommodation, cash back, shopping gift cards and more! As good as it may sounds, reward cards usually have higher interest rates and annual fees. Use the Mozo rewards revealer tool to find the best rewards card for what you’re interested in. 

‘Tap and Go’:

It’s a simple, secure and convenient way of paying for purchases under $100 with VISA Paywave, MasterCard PayPass or AMEX Contactless. Mozo can help you find the best credit card deals in Australia with all the latest features, compare over 195 credit cards from 58 banks. 

Card program extras

Visa and MasterCard are two of the most popular credit card brands in the world. While most Australians would have one or the other, many people wouldn’t know the difference between the two as they have similar features and usability. However, each brand does come with its unique programs and campaigns. For example:

  • MasterCard Priceless Cities: Eat, play, shop and stay at some unique places, exclusive places to MasterCard holders.
  • Visa Entertainment: If you love heading out for live entertainment this Visa card program has your name written all over it! It provides Visa cardholders access to exclusive tickets pre-sale as well as offers and competitions to some of the greatest entertainment brands in the world. 

Finding the right credit card for you

We’ve gone through many of the important features you should consider when shopping around for a credit card, now it’s about finding the right one to suit you. With over 200 credit cards on the market this can be an overwhelming process. Taking in mind the features we’ve talked about above, think about the following questions and this this will help you navigate in the right direction when finding the right credit card for your circumstances.

  • Where do you shop?
  • Are you a big spender?
  • Do you like to travel frequently?
  • Do you plan to pay off your balance in full each month?
  • Will you pay your credit card bill on time?
  • Do you have a good credit rating?

10 tips for getting the best value from your card’s perks

#1 Make the most of the interest free period on your credit card

#2 Before buying travel insurance, check to see what’s included in your cards policy 

#3 Align your rewards with your interests and goals 

#4 Put all your spending on one card to maximise its rewards/points. 

#5 Use up any reward points you’ve accumulated before they expire 

#6 Save yourself time and even money by making the most of the concierge service on offer 

#7 Pay your credit card bill on time to avoid a late payment fee 

#8 Plan in advance when you’re going to take advantage of your free domestic flight 

#9 Look how long you have to make a claim under the ‘guaranteed pricing’ policy it can vary from 21 – 60 days 

#10 Make sure you are well aware of all your card’s perks so you can make the most of them!

^See information about the Mozo Experts Choice Credit Card Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

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