There isn't one best credit card on the market. And all credit cards can't be compared equally. So our experts have chosen a top pick for each type of credit card offer that appeals to a wide variety of people in Australia.
Our picks for the best credit cards for July:
Here is the highest scoring credit card in each category we examine, based on their Finder Scores.
Balance transfer rate of 0% p.a. for the first 28 months
A low ongoing annual fee
Shopping cashbacks through ShopBack
Competitive purchase interest rate of 13.99% p.a.
Additional cardholder at no extra cost
Charges a one-time 1% balance transfer fee
Balance transfer rate reverts to 21.99% p.a. at the end of the introductory period
No rewards program, travel perks and insurance covers
Why we like it
The 13.99% p.a. variable interest rate on purchases is much lower than the average standard credit card interest rate in Australia (currently 20.16% p.a.)
Long 0% p.a. balance transfer offer for 28 months (with a 1% BT fee), which can help you save on interest and pay off existing debts faster.
Unlike many other cards, you still get interest-free days on purchases when you have a balance transfer.
Mobile payments through Apple Pay, Google Pay and Samsung Pay.
Up to 2.25 Qantas Points per $1 spent on eligible purchases in Australia, uncapped
$450 Qantas Travel Credit each year
2 complimentary Qantas Club lounge invitations each year
Complimentary travel insurance
High $450 annual fee
High 23.99% p.a. interest rate for purchases
3% foreign currency conversion fee
Only offers up to 44 days interest-free on purchases, compared to other cards that offer 55 days
Why we like it
Offers up to 90,000 bonus Qantas Points. That's enough for a return economy flight from Melbourne to Los Angeles or a return business class flight from Sydney to Christchurch.
$450 Qantas Travel Credit each year, which offsets the $450 annual fee.
High Qantas Points earn rate at 1.25 Points per $1 spent. Plus, an additional point for spending with Qantas.
Complimentary travel perks, including lounge passes and travel insurance.
Top pick for rewards
American Express Platinum Card
200,000 Bonus Points and Yearly $450 Travel Credit
Airport lounge access at over 1,400 locations with the American Express Global Lounge Collection
Up to $400 back per calendar year at participating restaurants with American Express Global Dining Credit
High $1,450 p.a. annual fee
3% foreign currency conversion fee
American Express is not as widely accepted as Visa or Mastercard
Why we like it
This card comes with plenty of points and travel perks, making it rewarding card for people who like to shop and travel in style. But with a high annual fee you'll need to make sure you're getting your money's worth out of it.
This card's low purchase rate and very low annual fee make it an attractive budget card in the low rate category. You also get plenty of interest-free days on your purchases.
Annual fee of $150 in each subsequent year when you meet the spend requirement
2 airport lounge visits per year with complimentary Priority Pass membership
Complimentary travel insurance and purchase protection insurance
1 Citi Rewards Point per $1 spent
High standard annual fee of $300
High 21.49% p.a. interest rate for purchases
High 3.4% foreign transaction fee
Why we like it
This is the highest cashback offer on the market. You can get up to $600 cashback when you spend $2,000 in the first 3 through Apple Pay, Google Pay or Samsung Pay.
The annual fee reduces by 50% after the first year if you meet the spending requirement.
This card also comes with some useful travel perks, like complimentary travel insurance.
A high 22.74% p.a. interest rate on balance transfers after the introductory period
A 21.99% p.a. interest rate on purchases applies at the end of the introductory period
No interest-free days if you have a balance transfer
Why we like it
The ongoing $0 annual fee can save you around $30 to $700 (or more) compared to other credit cards with an annual fee.
It also offers 0% p.a. interest on balance transfers for 18 months with a 2% balance transfer fee, as well as 9.99% p.a. for 18 months on purchases, which means you can repay existing card or personal loan debt interest-free for up to 1.5 years and save on interest if you need to make big purchases, at the same time.
Earns between 1 and 2 Kogan reward points per $1 on eligible spending, with 1,000 points = $10 of credit at Kogan.com. The equivalent value of 1 cent per point is competitive for this type of reward.
Complimentary Kogan First Membership means you can get free shipping on thousands of products, exclusive offers and express shipping upgrades that add value if you're a loyal Kogan shopper.
0% p.a. on purchases for 12 months, then 12.99% p.a.
0% p.a. on balance transfers for 12 months
Digital card issued upon approval
Charges a 2% balance transfer fee
Charges a 2.95% foreign transaction fee
Why we like it
Offers 0% p.a. interest on purchases for 12 months, which can help you save on interest if you need to make big purchases now and pay them off over a few months. The low 12.99% p.a. purchase rate that applies after the introductory period is also one of the lowest ongoing rates on the market.
A digital card and early account access means you can start using 24 hours after your application is approved.
Also offers 0% p.a. on balance transfers for 12 months with a 2% balance transfer fee, which could help you save on interest if you move a balance from another card to this one.
Methodology: How we chose our top picks
Finding a great credit card is confusing. But the Finder Score makes it easy. We do the hard work for you.
We score all the credit cards in our database (that's hundreds!) and crunch the numbers on rates, fees, points and more to find the true best in market credit cards.
We judge cards based on several categories. Because different people need a good credit card for different reasons.
You can check out more picks for each category (and read the full methodologies) on the following guides:
We've picked the top scoring card from each category and put them here on our best credit cards page.
If you use a credit card properly, it's a great way to manage your spending, earn reward points or get your existing card debts under control with a balance transfer. But if you find you're struggling to pay it off and getting charged interest, it's time to reavaluate how you're using the card — and whether you need it.
The ideal credit card is different for everyone (which is why there's not a single "best" credit card). But there are a few things that have universal appeal, including:
Low fees and interest rates to help you save on credit card costs
Rewards, travel perks or other extras that you can use to get more value
A long 0% balance transfer period if you want to pay off existing debt without interest
A bank you want to deal with (think good service, a cool app or mobile payments)
Types of cards and how to find the best credit card for you
There are hundreds of credit cards in Australia for both personal and business spending. These cards can be narrowed down into 5 main categories or "types". Different cards will work for different people. Here's how to find one based on your credit card habits:
If you want to earn points for your spending
If you use your card for everyday spending and want to be rewarded, you could check out frequent flyer, cashback or rewards credit cards that offer extra value per $1 spent. New cards usually offer thousands of bonus points as an incentive for new customers and sometimes discount the annual fee (which can be higher than on some no-frills cards). With these types of cards, always aim to pay off your balance in full every month.
If you only use your credit card for emergencies
This is one of the most common reasons Australians get a credit card, with Finder research showing 41% of Australians got their last credit card for emergencies. When that's the case, a no annual fee card costs you nothing to keep. And if you pay it off in full each month, it could cost you nothing at all.
If you carry a balance from month to month
Carrying a balance from month to month can be handy but also expensive, with the average credit card interest rate now 20.6% p.a. A card with a low interest rate (typically around 8–15% p.a.) would save you money in the long run.
If you already have credit card debt
A balance transfer credit card can help you save money and simplify your payments by offering a low or 0% interest rate on debt you move to the new card. Balance transfer offers usually last 6–28 months, giving you some time to pay off your debt without having to pay interest. If you have a few debts, combining them can also help you save on rates and fees.
If you want a credit card for your business
Some sole traders and small business owners will choose a personal credit card for their work spending. But business credit cards offer you more expense management tools and features such as detailed statement breakdowns, automatic feeds for accounting software and cards for employees. They're also more likely to offer rewards for spending with the ATO and other government bodies.
New to credit cards?
If you're not sure what some of the terms on this page mean, you can check out Finder's guide to credit cards for beginners to learn how they work. It also has a comparison of cards typically suited to new cardholders, including low rate, no annual fee and student credit cards.
When I first moved to Australia 9 years ago, I took out an Amex that earned Velocity Points and gave me a solid earn rate of 1.2 points per dollar spent. The card had an annual fee of $375, 2 free lounge passes, a free return domestic flight and 120,000 bonus points and away we went. After Virgin halted many of its international flights – especially to LAX – the novelty of earn rates and lower annual fees was trumped by wanting airline miles I could more easily use. On top of this, there is only a Woolies near my house which means my groceries earn Qantas Points and Amex is not accepted everywhere. Very happy with my ANZ Qantas Visa.
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Frequently asked questions
Mastercard and Visa credit cards are widely accepted across Australia and make up 91.8% of all credit card purchases, according to RBA data. American Express is also accepted at most major retailer stores and many service providers, with Finder analysis showing it added over 194,000 new merchant locations added between January 2017 and December 2022.
The Bankwest Zero Platinum Mastercard was named the Best Travel Credit Card in the 2024 Finder Credit Card Awards. However, while this card has no foreign transaction fees and no annual fee, it no longer offers complimentary travel insurance.
When you're comparing credit cards for travel, you should also consider these details:
Before you travel
A rewards or frequent flyer credit card can help you save on flights and travel bookings that you pay for with points.
Getting a credit card from your current bank can make it easier to manage because you'll see your accounts in one place. You could also be able to make repayments easily between your transaction account and the credit card.
But loyalty doesn't always pay. And your bank may not have the best credit card with the features you want. So it's better to compare different brands and choose the one that offers you the most value.
Credit cards with low interest rates and low or $0 annual fees are typically the cheapest, because they help you save on 2 of the biggest potential credit card costs. When you're looking for a cheap credit card also consider:
If you usually carry over a balance from month to month, a lower interest rate will offer more savings compared to a card with a higher rate.
If you pay off your balance each month, an ongoing $0 annual fee means you'll save on account costs and could take advantage of interest-free days on purchases.
When you're comparing cards, consider what you plan to use a credit card for and weigh up the potential costs to find one that's cheapest for you.
If you're focused on earning points through Qantas Frequent Flyer or Velocity Frequent Flyer, a card that earns those points makes the most sense. With some cards, the bonus points alone could be enough to get you a business class flight or holiday.
But a rewards credit card gives you better options if you're a member of a few loyalty programs and want to transfer points between them. These cards also offer more choice if you're more interested in cash rewards and retail goodies.
Low rate credit cards are better if you don't pay your bill in full every month. You'll still have to pay interest on the balance, but it will usually cost you less than a card with no annual fee (and so, a higher interest rate).
A $0 annual fee card is great if you pay as you go or repay everything when it's due to make use of interest-free days on purchases. When combined, these 2 features mean you can effectively pay nothing to use your card.
A 0% balance transfer credit card works well for credit card debt if you can pay it off within 3 years. This is because the 0% introductory rate usually lasts for between 6 and 36 months.
If you want smaller repayments spread out over a longer period of time, personal loans have terms from 1 to 5 years – and some offer up to 10 years. You'll pay interest, but it could make it easier to chip away at what you owe. Personal loans also let you consolidate more types of debts, including from credit cards, other loans and even some buy now pay later debt.
A no interest credit card with a flat, monthly fee can be good if you want to pay off what you buy over time, without being limited to selected retailers (which you sometimes are with Afterpay, Klarna and some other BNPL plans). These credit cards don't usually charge late fees, unlike buy now pay later. They are also better if you want to build up your credit history, because most BNPL plans don't add to your credit report.
But if you mostly shop with the partnered brands and can make all of your payments on time (to avoid late fees), you could use a platform like Afterpay without any costs. And if you already have an account that you're happily using, there's probably no reason to get a credit card – unless you want to build your credit history.
Credit cards with low interest rates, low fees and low or modest credit limits are typically the best options because these features help keep costs down. A low credit limit can also reduce the risk of unmanageable debt.
Some people may also consider no interest credit cards with a flat, monthly fee for their first credit card. These cards are similar to BNPL and have clear, structured repayment details and only offer credit limits between $1,000 and $3,000.
2024 Finder Awards winners and finalists
Find out which credit cards have been recognised in this year’s Finder Awards.
The Virgin Australia Velocity Flyer Card was named Best Balance Transfer Credit Card in the 2024 Finder Awards. It consistently had competitive balance transfer offers during the period of analysis, including 0% p.a. on balance transfers for 24 months with no BT fee.
The ANZ Frequent Flyer Black Card has been named the Best Frequent Flyer Credit Card – Qantas for the third year in a row. It had big bonus Qantas Points during the analysis period – and a good earn rate, Qantas Club lounge invitations and travel insurance.
The Virgin Australia Velocity High Flyer won the Finder Award for Best Frequent Flyer Credit Card – Velocity. It had strong scores for bonus point offers, points per $1 spent and annual fee. Other perks include airport lounge passes and a $129 Virgin Australia Flight Voucher.
Illawarra Credit Union’s Low Rate Credit Card won the 2024 Finder Award for Best Low Rate Credit Card. For the analysis period, it scored well for its low 8.99% p.a. interest rate, $0 first-year annual fee and competitive $50 annual fee after that.
Every year the Finder Credit Card Awards recognise Australia's top credit cards, with expert analysis on rates, fees and offers based on 12 months' worth of data. The awards cover categories including balance transfers, travel and frequent flyer rewards – with separate categories for cards that earn Qantas Points and Velocity Points.
As offers change frequently, these cards might not currently have the most competitive deals but you can use them as a benchmark against current offers.
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio
Richard's expertise
Richard has written 532 Finder guides across topics including:
Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio
Amy's expertise
Amy has written 620 Finder guides across topics including:
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You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.
You save time. We spend 100s of hours researching credit cards so you can sort the gold from the junk faster.
You compare more. Our comparison tools bring you more credit cards from across the market.
