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100,000 bonus Citi reward Points when you spend $5,000 on eligible purchases within 3 months from approval. That’s $400 when you Pay with Points! Earn up to 1 Citi reward Point per $1 on eligible transactions. Apply for a credit limit from $2,000 up to $100,000. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
100,000 bonus Citi reward Points when you spend $5,000 on eligible purchases within 3 months from approval. That’s $400 when you Pay with Points! Earn up to 1 Citi reward Point per $1 on eligible transactions. Apply for a credit limit from $2,000 up to $100,000. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
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Receive 100,000 bonus Qantas Points when you apply online by 18 March 2025, are approved, and spend $5,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
Receive 100,000 bonus Qantas Points when you apply online by 18 March 2025, are approved, and spend $5,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
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0% p.a. for 20 Months on balance transfers. 2% balance transfer fee applies. Rate reverts to cash advance rate. $99 annual fee. Enjoy a low ongoing variable purchase rate of 14.99% p.a. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
0% p.a. for 20 Months on balance transfers. 2% balance transfer fee applies. Rate reverts to cash advance rate. $99 annual fee. Enjoy a low ongoing variable purchase rate of 14.99% p.a. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
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Score $300 Cashback when you spend $1,500 on purchases within 90 days from account opening (T&Cs apply). 0% p.a. on balance transfers (BT) for 12 months. A 3% balance transfer fee applies. Unpaid balance transfer reverts to variable cash advance rate. Up to 55 days interest free on purchases when you pay your account in full by the monthly due date.
Score $300 Cashback when you spend $1,500 on purchases within 90 days from account opening (T&Cs apply). 0% p.a. on balance transfers (BT) for 12 months. A 3% balance transfer fee applies. Unpaid balance transfer reverts to variable cash advance rate. Up to 55 days interest free on purchases when you pay your account in full by the monthly due date.
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Receive 30,000 bonus Velocity Points1 when you apply online by 30 April 2025, are approved, and spend $1,000 on eligible purchases on your new American Express Velocity Escape Plus Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 30,000 bonus Velocity Points1 when you apply online by 30 April 2025, are approved, and spend $1,000 on eligible purchases on your new American Express Velocity Escape Plus Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
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Enjoy 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate. Earn up to 1 Citi reward Point per $1 on eligible transactions. Apply for a credit limit from $2,000 up to $100,000. Balance transfer fee applies. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
Enjoy 0% p.a. for 15 months on purchases and balance transfers. Balance transfer reverts to cash advance rate. Earn up to 1 Citi reward Point per $1 on eligible transactions. Apply for a credit limit from $2,000 up to $100,000. Balance transfer fee applies. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.
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Receive 100,000 Bonus Membership Rewards® Points when you apply online by 8 April 2025, are approved, and spend $4,000 on eligible purchases on your new American Express Explorer® Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 100,000 Bonus Membership Rewards® Points when you apply online by 8 April 2025, are approved, and spend $4,000 on eligible purchases on your new American Express Explorer® Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
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Spend with confidence with a low variable purchase rate and 0% p.a. interest on balance transfers for the first 24 months. Unpaid balance transfer reverts to variable cash advance rate. 3% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget when you pay your account in full by the due date. Minimum credit limit $1,000. Low annual fee. T&Cs, fees, charges and eligibility criteria apply.
Spend with confidence with a low variable purchase rate and 0% p.a. interest on balance transfers for the first 24 months. Unpaid balance transfer reverts to variable cash advance rate. 3% balance transfer fee applies. There’s also up to 55 interest free days on purchases to help you manage your budget when you pay your account in full by the due date. Minimum credit limit $1,000. Low annual fee. T&Cs, fees, charges and eligibility criteria apply.
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Receive 60,000 Bonus Membership Rewards® Points when you apply online by 6 May 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Essential® Rewards Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 60,000 Bonus Membership Rewards® Points when you apply online by 6 May 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Essential® Rewards Credit Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
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Receive 100,000 bonus Velocity Points when you apply online by 30 April 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Velocity Platinum Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
Receive 100,000 bonus Velocity Points when you apply online by 30 April 2025, are approved, and spend $3,000 on eligible purchases on your new American Express Velocity Platinum Card within the first 3 months. T&Cs apply. Available to new American Express Card Members only.
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Following the Reserve Bank of Australia’s (RBA) decision to cut the cash rate by 0.25%, most lenders were quick to announce changes to home loan interest rates.
However, it’s been much quieter in the credit card space. There are typically a handful of providers that will adjust their rates in line with the cash rate, but only one bank has passed on a credit card cut at the time of writing, and that’s Qudos.
This lack of movement among credit card providers is at a time when balances accruing interest on Australian credit cards is at $17.8 billion, according to the latest data from the RBA, collected in December 2024.
That level of debt has increased by about $526 million year-on-year.
While this is a substantial amount of money, it’s an improvement on the level of credit card debt that had been accumulated just 10 years ago.
Our analysis of the RBA’s data over the last decade reveals that in 2014, the average balances accruing interest across personal credit cards was a sky-high $32.1 billion. In 2024, that average across the year had dropped down to $17.7 billion.
We should have a clearer picture of which credit card providers will be following the RBA’s movements over the next few weeks, but for now, you can take a look at some of the best credit card offers available at the beginning of the month.
Here are some of the top offers in the Mozo database as at 6 March, 2025.
St.George / Bank of Melbourne / BankSA
With a credit card, you can borrow money on demand to make purchases. The amount you can borrow is capped at a certain amount, known as your credit card limit.
Any money that you spend using your credit card, including on purchases, cash advances, and balance transfers, must be repaid.
Each month, you will receive a credit card statement that outlines how much credit you’ve used (your balance), the minimum repayment amount, and the due date.
If you repay your balance in-full before the due date, you can avoid paying interest on your purchases.
Credit cards can also come with interest-free periods on eligible purchases. In Australia, interest-free periods are typically 44 to 55 days long, but can vary depending on the provider.
There are a range of credit card types available in Australia, which you can compare on Mozo.
A low interest credit card typically has a low interest rate for purchases, which could help you to save money if you don’t always pay off your balance in-full each month.
The trade-off of a low-interest rate credit card is that these ‘no-frills’ credit cards usually don’t have rewards programs, perks, or bonuses.
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Rewards credit cards are a popular way to earn something back while you spend using your credit card. Credit card rewards are usually tied to airline frequent flyer, brand-specific, or supermarket rewards programs, and typically revolve around accruing points, which can be redeemed later down the track.
The downside is that rewards credit cards often come with higher fees and interest rates than no-frills cards. This means you’ll want to make the most of your credit card rewards points and ensure you pay off your balance in-full, to avoid paying interest.
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With a balance transfer credit card, you can roll over your existing credit card debts to a new card and enjoy 0% interest (or a very low rate) on your balance, for a limited time. Balance transfer introductory periods can last anywhere from 5 to 30 months, but it’s more common to see 12-month offers, according to the Mozo database.
After it ends, your credit card rate will revert to the purchase or cash advance rate, which can be quite a shock to your finances. That’s why, during this time, it’s a great opportunity to pay down your credit card debt as much as possible. That way, by the time the balance transfer period ends and you need to start paying interest, you don’t get further into debt.
Balance transfer fees, which is usually a percentage of the amount you’re transferring, may apply. So, factor that into your decision when comparing credit cards.
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No annual fee credit cards don’t charge customers a yearly fee in order to use their cards. They usually still have other fees, such as late payment and foreign exchange fees, and the trade-off is sometimes a steep interest rate on purchases.
If you’re the kind of person who pays off their credit card balance in-full and won’t have to worry about being charged interest, then a no annual fee credit card could be a money-saving match.
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There are various types of interest-free credit cards on the market, which can include balance transfer and introductory-rate credit cards.
However, there are also interest-free credit cards that instead charge a monthly or annual fee. This type of card usually has a lower credit limit (e.g. $1,000 or $3,000), with a fee that scales alongside it (e.g. $10 or $30/month).
In some cases, these 0% interest, monthly fee credit cards will waive your fee if you haven’t used your card, or paid off your balance in-full.
Examples of interest-free, monthly fee credit cards include the Westpac Flex Card, NAB StraightUp Card, and Community First Bank n0w Credit Card.
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Travel credit cards are tailored to those who like to splash out overseas. From no overseas transaction or ATM fees, to earning Frequent Flyer points, travel credits, and even complimentary travel insurance, these credit cards can help you save money while travelling for work or play.
The catch, however, is that travel cards tend to charge you high interest rates. So, it’s important to weigh up whether a card’s travel perks outweigh its interest rate.
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Platinum credit cards typically come with much higher credit limits and, as a result, have stricter eligibility criteria. However, what makes platinum credit cards appealing are the perks that often come with them.
Platinum credit card perks can include complimentary insurance, flight upgrades, airline discounts, concierge services, exclusive rewards programs, and more.
This type of credit card is often only available to those with high incomes and good credit scores, partly due to the perks, and partly due to the higher cost of using these cards.
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Credit cards, while useful, definitely have their risks. However, using your credit card responsibly can greatly reduce the potential risk they have.
For example, if you only ever make minimum payments on your credit card balance, your debt can snowball, thanks to compound interest. Runaway credit card debt can prove extremely stubborn to clear.
Missing credit card payments altogether can also negatively affect your credit score and result in late fees that pile up, only adding to your debt more.
By making sure that you don’t overspend on your credit card, and pay it off on time and (when possible) in-full, you can enjoy the benefits of a credit card without the potential downsides.
Credit cards do have fees, but not all cards charge the same amount for the same thing. Common credit card fees can include:
Some credit card providers may waive or discount your annual fee for the first year, as an introductory offer. Those that charge a monthly fee, which are oftentimes interest-free credit cards, may even waive your fee for paying your balance off in-full.
When you’re choosing a credit card, make sure to read through the product’s terms and conditions, so that you can understand all the costs involved with using your new card.
When you’re choosing a credit card to get, make sure it’s the right one for you by looking at a few of the key features of the cards you’re interested in.
Here’s some steps you can take to compare different credit card options:
Most credit card providers have preferences for who they’ll approve a credit card for. While your application’s success can depend on factors like your credit score, your income, and more, they typically want someone who is:
Of course, this is a generalisation. But, having a steady income and low debt can really bolster your chances of success.
The factors that can affect credit card approval include:
When you apply for a credit card, you will need to have documents that show proof of identity, income and expenses.
You can usually apply for a credit card online, either through the bank’s website or app. However, it’s also possible to talk to a credit card provider in-person, in a bank branch.
Mozo’s expert guides are here to help you make the most of your credit card. See all
All the latest credit card news and top tips to help you manage your credit card. See all
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Most credit cards offer a certain number of interest-free days on eligible purchases. Known as an interest-free period, this is the maximum number of days after making a payment before you’re charged interest for it – provided you have paid off your closing balance by the due date.
To avoid paying interest on your credit card, make sure that you pay off your closing balance before your credit card bill is due. If you still have money owing on your credit card at the end of the month, then this is what the bank will use to calculate interest.
A cash advance refers to using your credit card to get cash, rather than spending it on goods or services. Examples of when cash advances apply include withdrawing money from an ATM and transferring money from your credit card account to another account.
Most credit cards charge a fee for cash advances and interest for not paying them back before the due date. Cash advance interest rates are typically higher than a credit card’s purchase rate.
A balance transfer moves your existing credit card debt to a new credit card. Balance transfer credit cards typically charge very low or 0% interest for a set period (e.g. 12 months), allowing you to pay down your credit card debt without more interest being added to it. If you can’t pay off your balance on time, it could cost you more.
If you can’t pay your credit card bill, you risk getting into more credit card debt and hurting your credit history. But there are ways to get out of or reduce credit card debt.
Your first port of call is to get in contact with your card issuer’s hardship department. The sooner they know about your issue, the sooner an action plan can be put in place to help. By explaining your situation to them, they may offer to put together a repayment plan, based on what you can afford. This can include freezing interest on your card and allowing for smaller repayments, among other things.
If your credit score is too low, or you have a bad credit history, then your credit card provider may reject your application.
Pros you get flexible payment terms and con is the interest rates and not much rewards
Read full reviewPros you get flexible payment terms and con is the interest rates and not much rewards
I like this product for the free flybuys on signing up and the ongoing rewards system, but the annual fees are too high to keep the credit card past the first year. I have previous experience of ANZ signing me up to products I haven't asked for in what I consider an unethical way.
Read full reviewI like this product for the free flybuys on signing up and the ongoing rewards system, but the annual fees are too high to keep the credit card past the first year. I have previous experience of ANZ signing me up to products I haven't asked for in what I consider an unethical way.
Changed my payments date back eleven days. So went from towards end of the month repayments to the tenth of the month. My budget was perfect the way it was now I am very inconvenienced. Cannot understand who thought changing my payment date without notice was a good idea.
Read full reviewChanged my payments date back eleven days. So went from towards end of the month repayments to the tenth of the month. My budget was perfect the way it was now I am very inconvenienced. Cannot understand who thought changing my payment date without notice was a good idea.
No rewards for both credit cards therefore I am Looking at other banks that offer rewards system for card usage
Read full reviewNo rewards for both credit cards therefore I am Looking at other banks that offer rewards system for card usage
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