Australia’s Best Credit Cards
These are the best credit cards in Australia – they are easy to get and have no credit checks.
In this article, we’ll take you through the best credit card solutions in Australia that will be of great value to you whether you are looking for a low interest rate, cash back or rewards.
Best Balance Transfer Card
Balance transfer cards are credit cards that offer you very low introductory interest rates (like 1.99%) for a specific promotional period like three months or six months.
If you transfer your balance to this card, you’re obligated to only pay the low-interest rate set aside for the promo period.
The major aim of a balance transfer is to save money. So if you’re to compare the different balance transfer deals out there; your focus should go beyond the balance transfer period.
Why is this so?
The reason is that there’s a yearly fee and balance transfer fee to consider since both can void your interest savings and this brings us to Westpac’s credit card.
Westpac’s low rate credit card is a perfect fit for the following reasons:
- It has 0% interest in 28 months on all balance transfers
- low annual fee and balance transfer fee
- It is Samsung pay, Apple pay and Google pay compatible
- You’ll pay a first-year card fee of $0 and pay $59 subsequently
- Allows you to set auto payments
- Has a mobile wallet feature
- Allows you to lock your card if it gets missing
However, there are some negatives to this credit card from Westpac including:
- After 28 months, your balance transfer returns to a cash advance rate of 21.49% per year
- Only news customers can enjoy the balance transfer offer
Best Cash Back Card
Cash back is a scheme that credit cardholders benefit from when they make purchases with their card.
Once you make an authorized purchase with your cash back card, your card issuer will refund you a percentage of the total cost of the goods and services that you purchased.
The percentage can range between 1 to 3% and in most cases, it may go as high as 5 or 6%.
To put things in a clearer perspective; see the cashback rewards program as a way of getting little rebates on all eligible purchases that you make with your cashback credit card.
For instance, if your card issuer (let’s say Amex) offers you 1.5% cash back for any purchase that you make with your cash back card and you spend $2,000 in a month, it means you will get $15 as a cash back reward for spending $2000.
When it comes to cash back, the American Express Cashback Credit Card is king. American express offers you permanent cash back incentives to spend as you wish.
The pros of this particular credit card include:
- You can enjoy up to 5% cash back rewards in your first 3 months
- Earn 1.5% cash back bonus when you make purchases from partner businesses
- You’re eligible for a free BINGE $10 basic subscription package
- You’re also eligible for a Smartphone Screen insurance
The downsides of this card from American Express include:
- Has a high 20.74 annual interest rate
- The monthly $10 fees adds up to $120 yearly
Best Travel Rewards Credit Card
The best travel rewards credit card award will go to the American Express Qantas Ultimate Credit Card. While it has a high annual fee, it’s the best choice among other cards in the same category.
Its range of amazing benefits will make you overlook its high annual fee. As a new cardholder, you’ll enjoy the following benefits;
- You’ll get 120,000 Qantas points within 3 months or acquiring your card
- You’re eligible for 120 status credits
- You’re eligible for $450 Qantas travel credit annually
- You’re eligible for 2 annual Qantas Club lounge invitations
- You’ll get 1.25 reward point for every $1 that you spend
This card does come with a hefty yearly fee of $450.
Best Easy Approval Credit Card
These types of credit card issuers allow applicants to be approved without any credit check done on them. It usually comes with a high-interest rate, lower credit limitation and fewer features compared to the standard credit cards.
This is the easiest of all credit card applications because you’ll always get approved. It is the best choice for those who have bad credit scores.
If you have a poor credit history or none at all, you might want to leverage “First” credit card opportunities like the ANZ First Card.
These cards are suitable for applicants who have no credit history or little history and it’s easy and fast to get approved.
The pros of this credit card include:
- You’ll pay a low yearly fee of $30
- Compatible with Samsung Pay, Garmin Pay, Apple Pay, Google Pay and Fitbit Pay
- You’ll get 0% interest rate on all purchases in 12 months; then subsequently, it becomes 20.94%
- You’re eligible for $30 credit to your ANZ credit card
- ANZ will cover any losses that you incur from fraud via their fraud money-back guarantee program
The downsides of this credit card include:
- There are no rewards program
- High cash advance and purchase rate