Get to Know the 6 Best Credit Cards in Australia

We aim to help you identify some of the best credit cards available in the market right now, so you can choose the opportunity that best suits you.

Choosing a credit card is a personal decision. Everyone has their own reasons for choosing a card, but there are usually one or two things that are essential to everyone: low interest rates and annual fees, as well as the benefits that come with the card, as these can help you save money and enjoy other rewards.

However, even if you know what you’re looking for, there are certainly times when you may feel overwhelmed by the many options available, especially considering that the Australian financial market offers a wide range of possibilities that may seem perfect for you.

But don’t worry! That’s exactly why we’re here! In this guide, we will show you some of the best options available according to the well-known and reputable magazine Forbes. Let’s begin!

What Should I Look for in a Credit Card?

First of all, as we mentioned before, people have different tastes and things that are important to them, so the choice of a credit card really is a personal one. However, that doesn’t mean you shouldn’t pay attention to certain factors that may represent a benefit or even a disadvantage for you.

So, take a look at some of these steps that can help you during your journey to choose the right card.

• Pay attention to the interest rate and annual fee, as these two things can help you save money that can be used for other things that may be more important to you. You can always compare the fees with other options and check if the benefits outweigh the costs.
• Does the card offer a good rewards program or bonus offers? This can also be something to consider, as sometimes you can use points to travel, buy gift cards, receive cashback, and more.
• Does the card offer any additional benefits, such as travel insurance, lounge access at airports, or purchase protection? This could be a deciding factor.
• Don’t apply for multiple cards in a short period of time. This can affect your score, leaving a bad impression with the banks.
• Think about your own buyer profile. Are you a big spender? Do you have any intentions to save money? Do you travel a lot? Answering these types of questions can help you decide which card will work best for you.

After considering these factors and deciding what you’re looking for, you are now ready to explore some of the best options available.

The 6 Best Credit Cards

NAB Straight Up Credit Card, by the National Australian Bank

This is an option for people who are looking for a simple credit card for their everyday lives. With no interest charges, if you don’t use it, your card will have a $0 balance during the statement period, and the bank will refund your monthly fee, which can be very beneficial and is set based on your credit limits. Another good point is that it also has no fees on international purchases.

There are three available credit limits:

• $1,000 ($35 minimum monthly payment and a $10 monthly fee added to your balance);
• $2,000 ($75 minimum monthly payment and a $15 monthly fee added to your balance);
• $3,000 ($110 minimum monthly payment and a $20 monthly fee added to your balance).

For a more detailed description of this card, visit NAB StraightUp Card.

CommBank Neo Card, by the Commonwealth Bank of Australia

Another option listed is the CommBank Neo Card, which has no interest rate. This is also a simple option for people who are not avid buyers and aim to use the card with moderation.

The annual fee can be $15, $20 or $25 per month, depending on the credit limit, and if the balance is paid off, there is no monthly fee. The maximum credit limit available is $3,000, and it can also be used internationally.

For a more detailed description of this card, visit We found your Credit Card: CommBank Neo Card, where we’ve given it a rating of 3.5.

HSBC Premier World Credit Card, by HSBC Australia

This card allows customers to choose from different rewards. They offer the “Rewards Plus” option (where you can earn points and transfer them to airline programs or redeem them for cashback and gift cards) or the “Qantas Rewards” option (where you can earn 1.5 points for every $1 spent on eligible purchases, along with other benefits). Depending on your choice, your annual fee will change, but the interest rate remains 19.99%. The card also comes with complimentary insurance.

It is important to note, however, that this option includes a late payment fee of $30, a balance transfer fee of 2% of the balance transferred, a cash advance fee of 3% or $4 (whichever is higher) and overseas transaction fee of3%, and other charges.

For a more detailed description of this card, visit We found your Credit Card: HSBC Premier World Mastercard, where we’ve given it a rating of 4.5.

Bankwest Breeze Classic Mastercard, by BankWest

This is an option for those who are looking for a low-fee and low-purchase-rate card while enjoying a few benefits. This card has a minimum limit of $1,000, an purchase rate of 12.99%, and an annual fee of $49.

For the first 24 months, you can enjoy a 0% balance transfer offer. Please note that Bankwest will charge you a $25 late payment fee and has a 21.99% cash advance rate.

For a more detailed description of this card, visit We found your Credit Card: Breeze Classic Mastercard, where we’ve given it a rating of 3.5.

Citi Rewards Credit Card, by CitiBank

As the name suggests, this is a card for those who take getting rewards very seriously. With this option, you will be able to redeem points for travel, gift cards, and much more.

You will also receive complimentary insurance, which can include international travel, phone coverage, and more. This card has an interest rate of 0% p.a. for 15 months, reverting to the variable retail purchase rate after the promotional period, currently 22.49% p.a., and an annual fee of $199.

For a more detailed description of this card, visit We found your Credit Card: Citi Rewards Credit Card, where we’ve given it a rating of 4.5.

St George Vertigo Card, by St George Bank

The St George Vertigo Card has a low annual fee of $55, an interest rate of 13.99% (below the national average), and the option to add a cardholder at no extra cost. You will be charged $15 for missed payments, and the card has an advance rate of 21.99%. As a popular option, clients are offered $500 cashback on petrol and groceries or zero interest for the first 24 months.

For a more detailed description of this card, visit We found your Credit Card: St. George Vertigo, where we’ve given it a rating of 4.5.

Conclusion

We hope this list helps those who still have doubts about which credit card to choose. To make it easier, we’ve included links to our detailed articles on each card, where we explain the benefits, fees, how to apply, bank information, and more.

If none of these cards appeal to you, don’t worry! We have an entire section dedicated to credit cards, where you can continue your search and read about many other options until you find the one that best suits your needs.