Choosing the right credit cards in Australia can feel like navigating a black hole of offers and fees. Fear not, intrepid spenders! This guide shines a light on the top 10 contenders for 2024, catering to diverse needs and budgets. So, buckle up as we blast off into the world of rewards, perks, and (hopefully) minimal interest.
top 10 best credit cards in Australia
Here are the top credit cards in Australia for 2024, based on factors like price, coverage, customer service, and ratings:
1. Qantas Frequent Flyer Platinum Card:
- Pros: Earn Qantas Points on all spending, generous bonus points, access to Qantas Club lounges worldwide; travel insurance.
- Cons: High annual fee ($599), hefty foreign transaction fee (2.5%).
- Price: $599 annual fee.
- Website: https://www.qantas.com/au/en/frequent-flyer/status-and-clubs/status/platinum.html
2. American Express Velocity Escape Card:
- Pros: Earn Velocity Points on all spending, bonus points for Virgin Australia flights, travel insurance, access to Virgin Australia lounges.
- Cons: High annual fee ($450), points expire after 3 years.
- Price: $450 annual fee.
- Website: https://www.americanexpress.com/au/credit-cards/velocity-escape-card/
Best credit card in Australia
3. NAB Straight Up Credit Card:
- Pros: Low annual fee ($95), no foreign transaction fees, 55 days interest-free period, cashback on groceries and fuel.
- Cons: No rewards program, limited features.
- Price: $95 annual fee.
- Website: https://www.nab.com.au/personal/credit-cards/nab-straightup-card
4. Citi Rewards Card:
- Pros: Earn points on all spending, flexible redemption options (flights, hotels, gift cards), decent annual fee ($99).
- Cons: Points have less value than frequent flyer programs, limited travel insurance.
- Price: $99 annual fee.
- Website: https://www1.citibank.com.au/welcome/rewards
5. Bankwest Breeze Classic Mastercard:
- Pros: No annual fee, 55 days interest-free period, cashback on fuel and groceries, bonus points for online shopping.
- Cons: Lower cashback rates than some competitors, limited travel insurance.
- Price: No annual fee.
- Website: https://www.bankwest.com.au/personal/credit-cards/manage-my-credit-card
6. ING Orange One Low Rate Credit Card:
- Pros: Very low interest rate (7.99% p.a.), long interest-free period for balance transfers (22 months), no annual fee.
- Cons: No rewards program, limited features.
- Price: No annual fee.
- Website: https://www.ing.com.au/credit-cards/orange-one.html
7. Coles Rewards Mastercard:
- Pros: Earn Flybuys points on all Coles spending, bonus points for shopping at Coles, no annual fee.
- Cons: Points only redeemable for Coles Group vouchers and merchandise, limited travel insurance.
- Price: No annual fee.
- Website: https://www.coles.com.au/credit-cards/rewards
8. St.George Vertigo Card:
- Pros: Earn points on all spending, bonus points for Apple Pay and Uber, no annual fee for first year.
- Cons: Points expire after 2 years, limited travel insurance.
- Price: $59 annual fee after first year.
- Website: https://www.stgeorge.com.au/personal/credit-cards/low-rate
9. CommBank Neo Card:
- Pros: Contactless payments, no annual fee, budget-tracking features, good for first-time cardholders.
- Cons: No rewards program, limited features.
- Price: No annual fee.
- Website: https://www.commbank.com.au/credit-cards/commbank-neo.html
10. Macquarie Platinum Mastercard:
- Pros: No annual fee, cashback on all spending, points redeemable for gift cards, travel and more.
- Cons: Lower cashback rates than some competitors, limited travel insurance.
- Price: No annual fee.
- Website: https://www.macquarie.com.au/everyday-banking/credit-cards/platinum-rewards.html
Remember, the “best” card for you depends on your spending habits, priorities, and budget. Research, compare, and choose wisely, fellow credit card voyagers! May your rewards be plentiful and your interest rates minimal!
| Card Name | Pros | Cons | Price | Website |
|---|---|---|---|---|
| Qantas Frequent Flyer Platinum Card | Earn Qantas Points on all spending, generous bonus points, access to Qantas Club lounges worldwide, travel insurance | High annual fee ($599), hefty foreign transaction fee (2.5%) | $599 p.a. | https://www.qantas.com/au/en/frequent-flyer/status-and-clubs/status/platinum.html |
| American Express Velocity Escape Card | Earn Velocity Points on all spending, bonus points for Virgin Australia flights, travel insurance, access to Virgin Australia lounges | High annual fee ($450), points expire after 3 years | $450 p.a. | https://www.americanexpress.com/au/credit-cards/velocity-escape-card/ |
| NAB Straight Up Credit Card | Low annual fee ($95), no foreign transaction fees, 55 days interest-free period, cashback on groceries and fuel | No rewards program, limited features | $95 p.a. | https://www.nab.com.au/personal/credit-cards/nab-straightup-card |
| Citi Rewards Card | Earn points on all spending, flexible redemption options (flights, hotels, gift cards), decent annual fee ($99) | Points have less value than frequent flyer programs, limited travel insurance | $99 p.a. | https://www1.citibank.com.au/welcome/rewards |
| Bankwest Breeze Classic Mastercard | No annual fee, 55 days interest-free period, cashback on fuel and groceries, bonus points for online shopping | Lower cashback rates than some competitors, limited travel insurance | No annual fee | https://www.bankwest.com.au/personal/credit-cards/manage-my-credit-card |
| ING Orange One Low Rate Credit Card | Very low interest rate (7.99% p.a.), long interest-free period for balance transfers (22 months), no annual fee | No rewards program, limited features | No annual fee | https://www.ing.com.au/credit-cards/orange-one.html |
| Coles Rewards Mastercard | Earn Flybuys points on all Coles spending, bonus points for shopping at Coles, no annual fee | Points only redeemable for Coles Group vouchers and merchandise, limited travel insurance | No annual fee | https://www.coles.com.au/credit-cards/rewards |
| St.George Vertigo Card | Earn points on all spending, bonus points for Apple Pay and Uber, no annual fee for first year | Points expire after 2 years, limited travel insurance | $59 p.a. after first year | https://www.stgeorge.com.au/personal/credit-cards/low-rate |
| CommBank Neo Card | Contactless payments, no annual fee, budget-tracking features, good for first-time cardholders | No rewards program, limited features | No annual fee | https://www.commbank.com.au/credit-cards/commbank-neo.html |
| Macquarie Platinum Mastercard | No annual fee, cashback on all spending, points redeemable for gift cards, travel, and more | Lower cashback rates than some competitors, limited travel insurance | No annual fee | https://www.macquarie.com.au/everyday-banking/credit-cards/platinum-rewards.html |
Top Credit Card FAQs in Australia for 2024
1. How do I choose the right credit card for me?
The best credit card for you depends on your individual spending habits, priorities, and budget. Consider factors like:
- Rewards: Do you want frequent flyer points, cashback, or something else?
- Fees: Can you afford the annual fee and other charges?
- Interest rate: Are you confident you can pay off your balance in full each month to avoid interest?
- Travel: Do you travel often and need travel insurance or lounge access?
- Features: Does the card offer any other features you need, like budget tracking or purchase protection?
2. What are the different types of credit cards in Australia?
There are many types of credit cards, but some of the most common include:
- Rewards cards: Earn points or cashback on your spending.
- Low-rate cards: Offer low interest rates on purchases and balance transfers.
- Travel cards: Include travel insurance and other benefits for frequent flyers.
- No-fee cards: Don’t have an annual fee, but may have higher interest rates or fewer features.
3. What are the pros and cons of using a credit card?
Pros:
- Build your credit score with responsible use.
- Earn rewards on your spending.
- Convenient and safe way to pay.
- May offer purchase protection and travel insurance.
Cons:
- Can easily lead to debt if not managed responsibly.
- High interest rates can accrue if you don’t pay off your balance in full.
- Annual fees and other charges can add up.
4. How can I avoid paying interest on my credit card?
The best way to avoid paying interest is to pay off your balance in full each month. You can also:
- Choose a card with a long interest-free period for purchases.
- Transfer your balance to a low-rate card.
- Make extra payments towards your balance.
5. What should I do if I miss a credit card payment?
Contact your credit card issuer as soon as possible. They may be able to offer you a payment plan or waive late fees. Don’t ignore missed payments, as they can damage your credit score and lead to further debt.
6. Where can I find more information about credit cards?
There are many resources available online and in libraries. You can also compare different credit cards on comparison websites. It’s always a good idea to speak to a financial advisor or credit card provider for personalized advice.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Always do your own research before applying for a credit card