Credit Card Mozo Experts Choice Awards 2025

 How do we judge the winners?

The 2025 Mozo Experts Choice Awards for Credit Cards recognise standout products offering great value or leading features, based on expert analysis of hundreds of options. This report outlines the award categories, highlights the winners, and explains the judging criteria. Analysis is based on Mozo’s product database as of 17 June 2025.

Australia's Best Credit Card Provider

This year, we are pleased to name American Express as Australia’s Best Credit Card Provider for outstanding card options across a wide range of credit card award categories.

Westpac Group regional brands BankSA, Bank of Melbourne, and St.George have been jointly recognised as Australia’s Best Business Credit Card Provider for exceptional performance in the business credit card space.

Highly Commended Credit Card Provider

In addition, Bankwest, HSBC and NAB have been awarded Highly Commended honours for strong performance in several key categories, with many cards worthy of consideration.

Low Rate Credit Card Awards

To identify the best value credit cards for consumers who carry an ongoing revolving balance, we ranked cards based on the cost over 5 years assuming a continuous interest-accruing balance of $4,000 taking into account:

• Ongoing and introductory interest rates on purchases;
• annual fees, including introductory annual fee reductions or waivers;
• with a requirement of at least 30 interest free days before payment is due.

The Low Rate Premium Credit Card award was judged using the same process as the Low Rate Credit Card category above, however only cards with premium benefits were included. The Low Rate Business Credit Card award utilises the same methods as the consumer Low Rate Credit Card, excluding business cards that require a security facility.

No Annual Fee Credit Card Awards

To be considered for this award, credit cards must have an interest free period of at least 44 days and no annual fee, cards were then ranked by purchase rate. To be considered for the No Annual Fee Premium Credit Card award, credit cards must have premium benefits using the same process.

Rewards Credit Cards

Mozo calculates the value of rewards by estimating the retail value of points earned in a year and subtracting the annual fee. For the Rewards Credit Card category, we used an assumed annual spend of $20,000. For Premium Rewards, the spend assumption was $60,000, reflecting cards aimed at higher income earners. Redemption value was based on the best method available (excluding redeeming points for flights, which are assessed separately). 

Cashback Premium Credit Card

This category considers premium cards where points can be redeemed for cashback. We assessed the value of points earned on a $60,000 annual spend, the value of the account credit that those points could be redeemed for minus the card’s annual fee.

Frequent Flyer Credit Card Awards

This category includes cards where points are automatically credited to either the Qantas Frequent Flyer or Velocity Frequent Flyer programs. We assessed rewards based on $20,000 annual spend, adding the value of ongoing benefits like free or discounted flights and lounge access (capped at 12 annual visits for cards offering unlimited access), then subtracting the annual fee. One-off offers like bonus points and other perks (e.g. hotel or dining discounts) were excluded. For the Premium category, the same method was used with a $60,000 spend and premium cards. Business credit cards were calculated on two different scenarios of spending $20,000 and $100,000 per annum. 

How do we assess Rewards value?

For the Rewards Credit Card categories, Mozo calculates the value of rewards earned by determining how many points would be earned in a year for a given spend level, the rewards that could be redeemed for those points, and the retail value of those rewards minus annual fees. Interest costs were excluded, assuming full monthly repayment. We calculated the relative value of points used for four different redemption options, and used the one most relevant to the specific award: domestic flight, international return flight, gift cards and cashback.

Calculations are based on $100 digital gift cards from a major national department store and cashback is based on redeeming points to gain a $100 credit to your credit card account. 

Mozo uses ‘classic’ or ‘reward’ economy seats  to assess flight value. Prices are sampled from online fares available 3 months in advance (Wednesdays, outside NSW school holidays).

• Domestic flights: Lowest fare (with baggage) for  Qantas Red e-deal, Virgin Choice and Jetstar Starter+ for a one-way Sydney to Melbourne flight is averaged (excluding taxes and surcharges). If the rewards are travel agent vouchers we calculate the average price excluding taxes and surcharges across those three airlines.
• International flights: Lowest return fares (2-week trip) travelling from Sydney to London offered by a range of airlines are averaged excluding taxes and surcharges. The airlines used are: British, Cathay Pacific, Emirates, Etihad, Malaysian, Qantas, Qatar, Singapore, United, Virgin Australia.

Bonus points are not considered in the value calculations for any awards. The value of annual travel credits, lounge passes and similar ongoing benefits are only used in ‘Frequent Flyer’ categories. We have not assigned any value to instant discounts, ticketing and other such benefits. 

These are the only rewards options assessed for these awards, although other options may be available. Cards were excluded where Rewards earning rates and redemption information were not publicly available. Each rewards program on a card is assessed separately. In these cases, the results tables show which rewards program was awarded; if both were awarded, they may not be listed separately. 

Travel Credit Cards

Travel credit card categories highlight the best value offers for overseas travel, based on foreign exchange fees, annual fees and complimentary travel insurance. These assessments were grouped into Low Rate cards, Premium cards, and those offering Rewards programs.

To qualify, cards needed:

• 0% foreign exchange margin,
• Free travel insurance with activation after spending no more than $500 on the planned trip,
• At least $20 million medical and $10,000 cancellation cover included in complimentary travel insurance.

We calculated the foreign exchange cost on $10,000 in purchases, then added the annual fee. Introductory or conditional fee waivers were excluded.

Other exclusions

Cards are not eligible for an award if they are only available to customers with significant other banking relationships with the institution.