Australia's Best Credit Cards of 2015

At Mozo, we're passionate about getting Australians a better deal on their finances and the Experts Choice Awards provide us with a platform to highlight products in the marketplace that we believe offer great value to Australian consumers

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Experts choice awards hero 2015
Best Low Rate Credit Card

We compared 171 credit cards in our database to find the cheapest credit card for cardholders with an ongoing revolving balance. Check out our winners, along with key features we used to determine the best low rate cards in Australia. To compare more credit cards, head on over to our low rate credit card hub.

We compared 171 credit cards in our database to find the Read more...

*annual fee waived for the first year.

Best No Fee Credit Card

We compared fee free credit cards in our database to find the cards that make it easiest for people to avoid paying any fees as long as they are paying their outstanding balance in full each month. Here's the list of Experts Choice winners, along with key features we used to determine the best fee free cards. More fee free cards can be found here on Mozo.

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Best Platinum Credit Card

We compared all platinum credit cards in our database to find the cheapest way to gain primary benefits of Platinum Card ownership. Check out this years Experts Choice winners, along with key features we used to determine the top picks. Find and compare more platinum cards at our platinum credit card hub.

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Best Overseas Transaction Credit Card

We compared 171 credit cards to find the lowest cost credit card for people making purchases outside Australia, either in person while travelling or online. To qualify for this award, credit cards were required to have no foreign transaction or annual fees and a minimum of 55 interest free days.

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About the Mozo Experts Choice Awards

How many credit cards did you compare for the awards?

Mozo analysed 175 personal credit card products from 59 providers for the Mozo Experts Choice Credit Card Awards.

Do credit card providers pay to be included in the awards?

No, our research team analyses product data and determines the winners in each Mozo Experts Choice category without reference to Mozo’s sales or commercial functions.

Why are there so many award categories?
We have a number of category of awards because there is no one best card for everyone. The best card for you will depend on your spending habits and your financial needs.

If you carry a balance on your credit card, low rate cards are generally better value. If you pay off your balance in full each month a no annual fee or rewards card could be best for you.

Spend a small amount each year, the rewards program that delivers you better value rewards is going to be different to someone who is spending tens of thousands of dollars each year.

And finally, some people only prefer to bank with a big 4 bank so we also highlight the credit cards available from these banks that deliver best value.

What determines the number of winners in each credit card award category?

Experts Choice Awards are awarded to the top 10% of products that meet the selection criteria in each awards category. A maximum of 10 individual products are  awarded in each category.

Who are Mozo’s product experts?

Mozo has been researching and comparing financial products since 2008, and hundreds of thousands of Australians use our comparison services each month.  Our research team is headed by our Research & Insights Director and our Product Data Manager who have over 50 years of financial services experience and 21 years in online financial comparison.

What was the methodology for the balance transfer award?
To avoid awarding credit cards with short term tactical offers, we excluded any cards that did not have a balance transfer offer in the market for at least three months at the time of conducting our analysis.

More information on the methodology and credit card awards criteria can be found here (PDF Download).

Tips on choosing the best credit card

Yes, the Mozo money experts have made it easy for you to find out which credit cards are the best value cards out there in the Australia market, but when you’re selecting a credit card it is still important for you to take into account your personal spending patterns and your repayment habits.

Here are our top FAQs to consider when selecting a wallet worthy credit card:

#1 Do you occasionally carry a balance on your card?
If you answered yes, then you'll want to look for a card that has the lowest ongoing interest rate such as the low rate cards above. The lower the interest rate, the less interest you will pay which means more of your repayments will go towards paying back your debt. If you always pay your balance off in full each month then you might want to consider a rewards credit card. See which rewards credit cards made our Experts Choice 2015 list.

#2 How many interest free days do I get?
Most credit cards have between 44 - 55 days interest free as long as you pay your balance off in full each month. If you are savvy about your purchasing you can use the bank's interest free days to keep your money in your savings account (or offset account) earning you interest and then transfer the full balance across on the due date.

#3 What's better, a low rate or a fee free card?
Generally fee free cards will have a higher ongoing interest rate so will be best for someone who pays their balance off in full each month and only want a basic card for day to day spending. If you will not pay the full balance each month then consider a low rate credit card as the best option.

#4 What credit card features will I use?
Many premium credit cards will have a suite of complimentary features. Some to look out for include extended warranty insurance, purchase protection insurance and overseas travel insurance. Many Platinum programs also often have dining benefits and concierge services that you can use worldwide. While these features are great if you're going to use them, generally premium cards will have higher annual fees than standard cards so you'll need to weigh this up when deciding if a bells and whistles card is the best credit card for you or if a basic card is more suitable.

#5 What fees should I look out for?
There are a number of fees that you could be charged depending on your choice of card, your purchasing activity or repayment ability. The best credit card of course is the one with the lowest fees for you. The most common fees are:

#6 Staying out of debt
With contactless payments like Visa Paywave and MasterCard Paypass and the world of internet shopping, it can be easy to spend beyond your budget and find yourself in debt. Here are some things to keep debt under control:

  1. reduce your credit limit. You can do this via internet banking yourself.
  2. pay off more than the minimum monthly balance.
  3. put a lock on the card. Some banks allow you to put a lock on your card for purchases over a set amount.
  4. consider a debit card. With a debit card you will still get the benefit of being able to use it for online shopping and at stores but you get to use your own money not the banks.