Best Credit Cards Australia (2026)
Expert picks across rewards, low rate, balance transfer, and no-fee cards. Last updated: 18/05/2026
Rates can change without notice. Last verified: 18/05/2026 (AEST). Please confirm details on the bank’s official page.
The best credit card depends entirely on how you use it. Rewards cards deliver real value if you pay in full each month — but carry a balance and the interest quickly outweighs any points earned. We've broken down the top picks by use case so you can match the right card to your situation.
Our Top Picks for 2026
St.GeorgeAmplify Rewards Signature
The largest bonus points offer in our comparison. 100k after $12k spend in Year 1 and another 100k after $12k in Year 2. First-year fee of $199 makes it accessible — just make sure you'll hit the spend threshold.
Pros
- ✓ Largest total bonus (200k points)
- ✓ $199 first-year fee (vs $295 ongoing)
- ✓ Earn 2 pts/$1 everyday; 3 pts/$1 international
Cons
- ✗ Requires $12k spend per year to earn bonus
- ✗ Not available if you held a St.George/BoM/BankSA card in last 24 months
ANZFrequent Flyer Black
Strong Qantas bonus plus a $200 cashback — making the first year net cost very low. 90k points after $5k spend in 3 months is a realistic threshold, and the $200 back cushions the $425 annual fee significantly.
Pros
- ✓ $200 cashback offsets the annual fee
- ✓ 90k pts in year 1 achievable at $5k spend
- ✓ Lounge passes + travel insurance included
Cons
- ✗ $425 ongoing annual fee is high
- ✗ Earn rate drops after $7,500/statement period
WestpacAltitude Velocity Black
The top Velocity points offer available. 90k after $6k spend in 90 days is a competitive threshold, plus 60k more in Year 2. Includes Virgin Australia lounge passes and Economy X upgrades — strong value for regular Virgin flyers.
Pros
- ✓ 150k Velocity points across two years
- ✓ VA lounge passes + Economy X upgrades
- ✓ Concierge and travel insurance included
Cons
- ✗ $75 Velocity Rewards Program fee on top of card fee
- ✗ Not available if you held eligible Westpac cards in last 24 months
CommBankLow Rate Credit Card
The lowest starting purchase rate in our comparison. Personalised pricing means applicants with strong credit may get rates near the floor. No rewards program — this card is purely for minimising interest costs on a carried balance.
Pros
- ✓ Lowest available starting rate (10.99%)
- ✓ 55 interest-free days
- ✓ CommBank brand and app
Cons
- ✗ Rate is personalised — up to 15.99%
- ✗ $6/month ($72/year) fee
- ✗ No rewards program
ANZLow Rate (Balance Transfer)
The longest 0% balance transfer window available — 26 months to pay down existing debt interest-free. Low 13.74% ongoing purchase rate means it stays useful after the BT period ends. A 3% transfer fee applies.
Pros
- ✓ Longest BT period (26 months)
- ✓ Low 13.74% ongoing purchase rate
- ✓ $58 low annual fee
Cons
- ✗ 3% balance transfer fee
- ✗ Reverts to 13.74% after BT period — set a repayment plan
American ExpressLow Rate Credit Card
The lowest purchase rate of any no-annual-fee card on the market. No rewards program, but if you occasionally carry a balance and want zero ongoing cost, this is hard to beat. Note Amex acceptance can be limited at some merchants.
Pros
- ✓ $0 annual fee
- ✓ Lowest no-fee purchase rate (10.99%)
- ✓ 55 interest-free days
Cons
- ✗ No rewards program
- ✗ Amex not accepted everywhere
Bonus Points Cards
Sorted by total bonus points (highest first).
| Provider | Card | Program | Bonus points | Annual fee | Interest-free days | Verified | Action |
|---|---|---|---|---|---|---|---|
| St.George | Amplify Rewards Signature | Amplify | 200,000 | $295 | 55 days | 2026-05-18 | |
| Westpac | Altitude Black (Rewards) | Altitude | 200,000 | $295 | 45 days | 2026-05-17 | |
| Westpac | Altitude Qantas Black | Qantas | 150,000 | $295 | 45 days | 2026-05-17 | |
| Westpac | Altitude Velocity Black | Velocity | 150,000 | $295 | 45 days | 2026-05-17 | |
| Qantas Money | Premium Card | Qantas | 120,000 | $399 | 55 days | 2026-05-18 | |
| NAB | Rewards Signature | NAB Rewards | 110,000 | $420 | 44 days | 2026-05-18 | |
| ANZ | Frequent Flyer Black | Qantas | 130,000 | $425 | 44 days | 2026-05-17 | |
| American Express | Velocity Platinum | Velocity | 50,000 | $440 | 55 days | 2026-05-17 | |
| American Express | Qantas American Express Ultimate | Qantas | 50,000 | $450 | 44 days | 2026-05-17 | |
| CommBank | Smart Awards | CommBank Awards | 40,000 | $228 | 44 days | 2026-05-18 |
Low Rate Cards
Sorted by purchase rate (lowest first).
| Provider | Card | Program | Bonus points | Annual fee | Interest-free days | Verified | Action |
|---|---|---|---|---|---|---|---|
| CommBank | Low Rate Credit Card | — | — | $72 | 55 days | 2026-05-17 | |
| Bankwest | Breeze Classic Mastercard | — | — | $49 | 55 days | 2026-05-17 | |
| NAB | Low Rate Card | — | — | $99 | 55 days | 2026-05-17 | |
| ANZ | Low Rate | — | — | $58 | 55 days | 2026-05-17 | |
| Westpac | Low Rate Card | — | — | $59 | 55 days | 2026-05-17 |
Balance Transfer Cards
Sorted by balance transfer period (longest first).
| Provider | Card | Program | Bonus points | Annual fee | Interest-free days | Verified | Action |
|---|---|---|---|---|---|---|---|
| ANZ | Low Rate (Balance Transfer) | — | — | $58 | 55 days | 2026-05-18 | |
| Bankwest | Breeze Classic Mastercard (Balance Transfer) | — | — | $49 | 55 days | 2026-05-18 | |
| Westpac | Low Rate Card (Balance Transfer) | — | — | $59 | 55 days | 2026-05-18 | |
| Kogan Money | Credit Card | — | — | $0 | 55 days | 2026-05-18 | |
| Heritage Bank | Gold Low Rate Credit Card | — | — | $0 | 55 days | 2026-05-18 |
No Annual Fee Cards
Sorted by purchase rate (lowest first).
| Provider | Card | Program | Bonus points | Annual fee | Interest-free days | Verified | Action |
|---|---|---|---|---|---|---|---|
| American Express | Low Rate Credit Card | — | — | $0 | 55 days | 2026-05-18 | |
| Heritage Bank | Gold Low Rate Credit Card | — | — | $0 | 55 days | 2026-05-18 | |
| Kogan Money | Credit Card | — | — | $0 | 55 days | 2026-05-18 | |
| Coles | No Annual Fee Mastercard | — | — | $0 | 55 days | 2026-05-18 |
How to Choose a Credit Card
1. Decide: rewards or low rate?
This is the most important question. If you pay your statement balance in full every month, a rewards card can genuinely deliver value through points, lounge passes, and travel credits. If you ever carry a balance, the interest on a rewards card (typically 19–22% p.a.) will cost far more than the rewards are worth. In that case, a low rate card at 10–14% p.a. is the smarter pick.
2. Calculate the true cost of a rewards card
A 200,000 point bonus sounds impressive, but factor in the annual fee and minimum spend required. A card with a $295 annual fee and $12,000 minimum spend over two years costs $590 in fees. If the points are worth less than that to you in flights or rewards, a no-fee or low-fee card is better value.
3. Understand the spend threshold
Most bonus offers require a minimum spend within 60–90 days of approval. A $5,000 threshold over 90 days is ~$1,667/month — realistic for everyday spending. A $12,000 threshold over 12 months is $1,000/month. Be honest about your actual spending before applying.
4. Check the 24-month rule
Most major bank bonus offers are unavailable if you've held a card in the same family within the last 12–24 months. This applies across related brands — St.George, Bank of Melbourne, and BankSA all count as the same family. Check the eligibility terms before applying.
5. For balance transfers: have a repayment plan
A 0% balance transfer is only effective if you pay off the transferred balance before the promotional period ends. Any remaining amount reverts to the standard rate — often 13–22% p.a. Set up a monthly repayment that clears the debt within the 0% window, and avoid making new purchases on the card while transferring (those typically accrue interest immediately).
In-depth Reviews
- St.George Amplify Rewards Signature review — Up to 200,000 bonus Amplify Points
- Westpac Altitude Black (Rewards) review — Up to 200,000 bonus Altitude Points
- Westpac Altitude Qantas Black review — Up to 150,000 bonus Qantas Points
- Westpac Altitude Velocity Black review — Up to 150,000 bonus Velocity Points
- Qantas Money Premium Card review — Up to 120,000 bonus Qantas Points
- NAB Rewards Signature review — Up to 110,000 bonus NAB Rewards Points
- ANZ Frequent Flyer Black review — Up to 130,000 bonus Qantas Points + $200 back
- American Express Velocity Platinum review — 50,000 bonus Velocity Points
- American Express Qantas American Express Ultimate review — 50,000 bonus Qantas Points
- CommBank Smart Awards review — 40,000 bonus CommBank Awards Points + $100 travel credit
- CommBank Low Rate Credit Card review — 10.99%–15.99% p.a. (personalised on approval)
- Bankwest Breeze Classic Mastercard review — 12.99% p.a. — Bankwest's lowest ongoing purchase rate
- NAB Low Rate Card review — 13.49% p.a. — straightforward low rate
- ANZ Low Rate review — 13.74% p.a. — ANZ's lowest rate card
- Westpac Low Rate Card review — 13.74% p.a. — variable low rate
- Kogan Money Credit Card review — 22.74% p.a. — Kogan Money (0% BT for 18 months, $0 annual fee)
- Heritage Bank Gold Low Rate Credit Card review — 11.8% p.a. — Heritage Bank Gold (0% BT for 12 months, $0 annual fee)
- American Express Low Rate Credit Card review — 10.99% p.a. — Amex Low Rate, $0 annual fee
- Coles No Annual Fee Mastercard review — 20.74% p.a. — Coles No Annual Fee, Flybuys rewards
Frequently Asked Questions
What is the best credit card for Qantas points in Australia?
As of May 2026, the ANZ Frequent Flyer Black offers up to 130,000 bonus Qantas Points plus $200 cashback — strong combined value. The Westpac Altitude Qantas Black offers up to 150,000 Qantas Points across two years. The best choice depends on your spend level and whether you value the cashback or higher raw points.
How do credit card bonus points work?
Bonus points are awarded when you meet a minimum spend threshold within a set timeframe after approval — typically 60–90 days. They're credited to your rewards account once the conditions are met. Most bonuses are one-time-only and unavailable if you've held a similar card from the same bank within the past 12–24 months.
Should I get a rewards credit card or a low rate card?
If you pay your balance in full every month, a rewards card can deliver real value through points and perks — the interest rate is irrelevant. If you ever carry a balance, a low rate card will almost always save you more in interest than you'd earn in rewards. Most financial advisers suggest paying off any balance before chasing points.
What is a balance transfer credit card?
A balance transfer lets you move existing credit card debt to a new card at a low or 0% interest rate for a promotional period (typically 12–26 months). A transfer fee (usually 2–3%) applies. The goal is to reduce interest costs while paying down debt. After the promotional period, the remaining balance reverts to the standard purchase rate.
Do credit card reward points expire?
It depends on the program. Qantas Frequent Flyer points expire after 18 months of inactivity — any earning or redemption resets the clock. Velocity (Virgin) points don't expire while your account is active. Bank-branded programs (Altitude, Amplify, NAB Rewards) vary — check your specific program's terms.
Related guides
- Best savings accounts — high interest rates with low or no conditions
- Best term deposits — lock in a guaranteed rate for 3–24 months
- Best home loans — lowest variable rates for owner-occupiers
- Bank cash bonuses — one-off cashback offers up to $4,000
Information is general in nature and may change without notice. Rates and offers verified 18/05/2026. Confirm current offers, fees, and eligibility on each provider's website before applying. This is not financial advice.