Credit cards for good credit

Compare credit cards suitable for people with a good credit rating, excellent credit rating, or no history of bad credit.

By   |   Verified by Andrew Boyd   |   Updated 30th September 2022

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Comparing credit cards for good credit

Bankwest Breeze Platinum Mastercard

On Bankwest's website

Balance transfer

15 months at 0% p.a.

Purchase rate

15 months at 0% p.a.

Annual fee

$0.00 for 1st year

Highlights

  • Enjoy 0% p.a. on balance transfers for 15 months (0% BT fee, 9.90% p.a. thereafter).
  • 0% p.a. for 15 months on purchases (reverts to 9.90% p.a.)
  • First-year annual fee waiver. $69 p.a. thereafter.
  • New customers only. Limited time. Other fees and charges, T&Cs apply.

Pros

  • 0% p.a. on balance transfers for 15 months.
  • 0% p.a. for 15 months on purchases.
  • First-year annual fee waiver. $69 p.a. thereafter.
  • No foreign transaction fees.

Cons

  • There is no rewards program on this card.
Qantas American Express Discovery Credit Card

On American Express' website

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Earn 0.75 Qantas Point for every $1 spent on Card purchases, except spend at government bodies in Australia where you will earn 0.5 Qantas Points per $1 spent.
  • Pay no annual card fee.
  • Up to 4 Additional Cards for family members or friends with no extra fee.

Pros

  • Ongoing $0 annual fee, a rarity among rewards credit cards.
  • Earn 0.75 Qantas points per $1 spent and 0.5 Qantas points per $1 for government spend.
  • No cap on the number of points you can earn.
  • Add up to 4 additional cards for family members or friends with no extra fee.
  • Complimentary Card Purchase Cover and Card Refund Cover.

Cons

  • There is a 3% foreign transaction fee.
  • Lacks complimentary travel insurance.
  • There is no access to a concierge service.
Bankwest Zero Platinum Mastercard

On Bankwest's website

Balance transfer

34 months at 0% p.a.

Purchase rate

14.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • No annual fee.
  • 0% p.a. for 34 months on balances transferred (2% balance transfer fee applies). Reverts to 14.99% p.a. thereafter.
  • No foreign transaction fees and complimentary international credit card travel insurance.
  • New customers only. Limited time. Other fees and charges, T&Cs apply.

Pros

  • No annual fee to pay — ever.
  • Very long interest-free balance transfer offer.
  • No fees on purchases in a foreign currency.
  • Complimentary international travel insurance.

Cons

  • There is a 2% fee on balance transfers.
  • You can't earn rewards points.
The American Express Essential Credit Card

On American Express' website

Balance transfer

N/A

Purchase rate

14.99% p.a. ongoing

Annual fee

$0.00 p.a. ongoing

Highlights

  • Get $100 back when you apply, are approved and spend $1,500 on your card in your first 3 months of Card Membership. T&Cs apply. New Amex Card Members only.
  • 0% p.a. annual fee.
  • Earn 1.25 Membership Rewards Gateway points for every $1 spent on everyday purchases, utilities, insurance and telecommunications.

Pros

  • Get $100 back when you meet the criteria.
  • $0 p.a. annual fee with the ability to earn points on your everyday spend.
  • Membership Rewards points can be transferred to several airlines for greater choice when redeeming for flights.
  • Comes with up to $500 of Smartphone Screen Cover.
  • Low 14.99% p.a. on purchases and up to 55 days interest-free when you clear the previous balance.

Cons

  • Doesn't come with travel insurance.
  • No access to concierge services.
  • There is no introductory balance transfer offer.
American Express Explorer Credit Card

On American Express' website

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Annual fee

$395.00 p.a. ongoing

Highlights

  • Receive 70,000 Bonus Membership Rewards Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Amex Card Members only.
  • Receive a $400 Travel Credit each year towards any flights, hotels and car hire when you book online with this card.
  • Earn 2 Membership Rewards points per $1 spent on purchases except government bodies in Australia where you will earn 1 point per $1 spent (uncapped).

Pros

  • The 70,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • $400 travel credit every year.
  • Get 2 complimentary airport lounge passes per year.

Cons

  • The $395 p.a. annual fee.
American Express Platinum Card

On American Express' website

Balance transfer

N/A

Purchase rate

N/A

Annual fee

$1,450.00 p.a. ongoing

Highlights

  • Receive 150,000 Bonus Membership Rewards Points when you apply online, are approved, and spend $5,000 on your new Card within the first 3 months. T&Cs apply. New Amex Card Members only.
  • Receive a $450 Platinum Travel Credit each year, which can be redeemed for flights, hotels, or car hire.
  • Enjoy up to $400 per calendar year when you dine from a curated collection of over 1,400 hand-selected restaurants both locally and abroad. Terms and Conditions apply.

Pros

  • Receive 150,000 Bonus Membership Rewards Points when you meet the criteria.
  • Receive a $450 Platinum Travel Credit each year.
  • Enjoy up to $400 Global Dining Credit per calendar year.
  • Access over 1,400 airport lounges across 140 countries.

Cons

  • The annual fee of $1,450.
American Express Cashback Credit Card

On American Express' website

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • When you apply online, are approved and pay $0 monthly fee for the first year (saving you $120). New Card Members Only
  • For every $ 1 spent, enjoy 1% cashback on all purchases excluding government bodies in Australia.
  • Enjoy Binge Basic subscription, valued at $10 per month.

Pros

  • $0 monthly fee for the first 12 months.
  • Complimentary Smartphone Screen Cover.
  • Free monthly BINGE subscription valued at $10/month.

Cons

  • Purchase rate is at 20.74% p.a.
St.George Vertigo Visa

On St.George's website

Apply by 28 February 2023

St.George Vertigo Visa

Balance transfer

32 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$55.00 p.a. ongoing

Highlights

  • Enjoy 0% for 32 months on Balance Transfers with a 0% balance transfer fee. Reverts to cash advance rate of 21.49% p.a.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Pros

  • 0% p.a. for 32 months on balance transfers with no balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Cons

  • Balance transfer rate reverts to 21.49% p.a. after 32 months.
  • There are no rewards program for this card.
Bank of Melbourne Vertigo Visa

Apply by 28 February 2023

Bank of Melbourne Vertigo Visa

Balance transfer

32 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$55.00 p.a. ongoing

Highlights

  • Enjoy 0% for 32 months on Balance Transfers with a 0% balance transfer fee. Reverts to cash advance rate of 21.49% p.a.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Pros

  • 0% p.a. for 32 months on balance transfers with no balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • Low annual fee of $55 p.a.

Cons

  • Balance transfer rate reverts to 21.49% p.a. after 32 months.
  • There are no rewards program for this card.
BankSA Vertigo Credit Card

Offer extendedApply by 31 December 2022

BankSA Vertigo Credit Card

Balance transfer

32 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Enjoy 0% for 32 months on Balance Transfers with a 0% balance transfer fee. Reverts to cash advance rate of 21.49% p.a.
  • 13.99% p.a. low variable interest rate on purchases.
  • $0 first-year annual card fee ($55 p.a. thereafter).

Pros

  • 0% p.a. for 32 months on balance transfers with no balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • $0 first-year annual card fee ($55 p.a. thereafter).

Cons

  • Balance transfer rate reverts to 21.49% p.a. after 32 months.
  • There are no rewards program for this card.
MONEYME Freestyle Virtual Card

Balance transfer

N/A

Purchase rate

14.99% p.a. ongoing

Annual fee

From $0.00 p.a. ongoing

Highlights

  • Use virtual card instantly once approved (typically within 60 mins)
  • Tap n Pay with up to 55 days interest free
  • Use credit to transfer money to anyone
  • Exclusive perks & many more features
  • Thousands of 5-star customer reviews

Bank promo

  • Get MONEYME's lowest advertised rate EVER of 14.99% p.a.
  • Annual fee of $0 to $149 p.a. based on credit limit plus a monthly fee of $5 for balances over $20.
  • Be eligible for deals and credit back offers at over 1,400 participating stores thanks to MONEYME Perks, powered by Cashrewards. Terms and conditions apply.

Pros

  • Available to use immediately after approval.
  • Money can be transferred to your bank account.
  • Get cashback at participating stores with Cashrewards.

Cons

  • The maximum credit limit is comparatively low.
  • Combination of annual and monthly fees can be quite expensive for the highest credit limit.
  • There is a 1.5% withdrawal fee.
Westpac Low Rate Cashback Credit Card

On Westpac's website

New offerApply by 31 October 2022

Westpac Low Rate Cashback Credit Card

Balance transfer

12 months at 6.99% p.a.

Purchase rate

13.74% p.a. ongoing

Annual fee

$59.00 p.a. ongoing

Highlights

  • Get up to $200 cashback when you apply online by 31 October 2022. $50 cashback will be awarded for every month $1000 or more is spent on eligible purchases for the first 4 statement periods from card approval. Terms and Conditions apply.
  • Low 13.74% p.a. interest rate on purchases.
  • $59 p.a. annual fee.

Pros

  • Get up to $200 cashback when you meet the criteria.
  • Low 13.74% p.a. interest rate on purchases.
  • $59 p.a. annual fee.

Cons

  • The cash advance rate for this card is 21.49% p.a.
Westpac Altitude Black Credit Card (Altitude)

On Westpac's website

Offer extendedApply by 31 December 2022

Westpac Altitude Black Credit Card (Altitude)

Balance transfer

24 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$99.00 for 1st year

Highlights

  • Receive 140,000 Altitude bonus points when you spend $6,000 on eligible purchases within 120 days of card approval. Exclusions apply
  • Transfer your balance at 0% p.a. for 24 months (1 % balance transfer fee applies). Reverts to cash advance rate of 21.49% p.a.
  • $99 p.a. annual fee for the first year ($250 p.a. annual fee thereafter).

Pros

  • 140,000 bonus Altitude Points when you spend $6,000 in 120 days.
  • 0% p.a. for 24 months on balance transfers.
  • Additional savings with the $99 first-year annual fee ($250 p.a. thereafter).

Cons

  • The high annual fee of $250 p.a. after the initial year.
Westpac Altitude Black Credit Card (Qantas)

Offer extendedApply by 31 December 2022

Westpac Altitude Black Credit Card (Qantas)

Balance transfer

24 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Annual fee

$300.00 p.a. ongoing

Highlights

  • Earn up to 120,000 bonus Qantas Points. Get 90,000 points when you spend $4,000 in the first 90 days from account approval date and an additional 30,000 points after making your eligible purchase on the second year.
  • Earn 0.75 Qantas points per $1 spent.
  • Enjoy two (2) complimentary Qantas Club airport lounge passes each year.

Pros

  • Earn up to 120,000 bonus Qantas Points when you meet the criteria.
  • 0% p.a. for 24 months on balance transfers.
  • Comes with complimentary travel insurance.

Cons

  • There is a 1% balance transfer fee.

A good credit score means you are more likely to qualify for better credit cards with lifestyle perks and travel benefits such as lounge access and insurance.

How credit scores affect applications

The record of all of your credit activity (credit cards, loans, utility bills) is compiled together into a credit report which indicates your creditworthiness – the better you are at handling credit, the higher you score. It is this that helps lenders to responsibly approve applications.

As of 2014 Australia’s credit reporting system is a ‘comprehensive’ system which means your history of compliance and non-compliance are reported and brought into consideration. Part of the credit reporting process will be to look at your repayment history, which is great if you consistently pay your credit card on time but not so good if you don’t make payments on time.

Considerations before applying

  • You'll be more likely to get approved for no-frills cards. It's harder to get approved for for a premium card, even with a high credit score.
  • A good credit score isn't all you need. Even if you have a good or excellent score, you should still check the eligibility criteria since it's possible you may not meet all the requirements. For example, you may not have enough taxable income.
  • Check your report before you apply. If you haven't done so already, check your credit report for any late or missed payments.

Learn more about credit cards for good credit

Got good credit? Get help with common questions about comparing cards.

  • FAQs

How do banks use my credit rating when deciding to approve a credit card application?

Two main parts of the credit card approval process is verifying your identity and fully assessing your financial profile which involves looking at your credit report/score. Your capacity to repay the credit limit of your new card is also taken into consideration.

What if I have good credit but don’t meet the rest of the approval criteria?

Generally, if you have a good credit score then you should be okay. However, scenarios arise where people with good credit scores can have credit applications declined. For example, banks can see how much credit you’ve got open with other banks so if approving your application would mean you would struggle to repay your new credit limit then you may be declined.

Will I be rewarded with a lower interest rate for having a good credit score?

Typically the answer is no. However, this is another area of potential innovation for new credit card offers – so watch out.