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 10 Apr 2024

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Comparing credit cards for good credit

Bankwest Breeze Platinum Mastercard

On website

Balance transfer

12 months at 0% p.a.

Purchase rate

12 months at 0% p.a.

Annual fee

$69.00 p.a. ongoing

Highlights

  • Enjoy 0% p.a. on balance transfers for 12 months (2% BT fee, 12.99% p.a. thereafter).
  • 0% p.a. for 12 months on purchases (reverts to 12.99% p.a.)
  • Up to 55 interest-free days.
  • New customers only. Limited time. Other fees and charges, T&Cs apply.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • 0% p.a. for 12 months on purchases.
  • No foreign transaction fees.

Cons

  • There is no rewards program on this card.
  • There is a 2% BT fee.
Qantas American Express Discovery Credit Card

On website

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$0.00 p.a.

Highlights

  • Earn 1.75 Qantas Points on eligible Qantas products and services.
  • 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.
  • $0 Annual Fee.
  • Up to 4 Additional Cards for family members or friends with no extra fee.

Pros

  • $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 website

Balance transfer

28 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 28 months on balances transferred (3% 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 3% fee on balance transfers.
  • You can't earn rewards points.
American Express Explorer Credit Card

On website

Balance transfer

N/A

Purchase rate

23.99% p.a. ongoing

Annual fee

$395.00 p.a. ongoing

Highlights

  • Receive 50,000 Bonus Membership Rewards Points when you apply, are approved, and spend $4,000 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.
  • Includes complimentary domestic & international travel insurance.

Pros

  • The 50,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • Receive a $400 travel credit every year.
  • Earn 2 Membership Rewards points per $1 spent on purchases except for government bodies in Australia where you will earn 1 point per $1 spent (uncapped).
  • Get two complimentary entries per year to The Centurion® Lounge.

Cons

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

On website

Apply by 25 June 2024

American Express Platinum Card

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 by 25 June 2024, 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 to more than 1,400 lounges globally, including The Centurion® Lounge.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.

Cons

  • The annual fee of $1,450.
St.George Vertigo Visa

Apply by 30 April 2024

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 1% 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 31 July 2024

Bank of Melbourne Vertigo Visa

Balance transfer

28 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$55.00 p.a. ongoing

Highlights

  • Enjoy 0% for 28 months on Balance Transfers with a 1% 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 28 months on balance transfers with 1% 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 28 months.
  • There is no rewards program for this card.
BankSA Vertigo Credit Card

Apply by 31 July 2024

BankSA Vertigo Credit Card

Balance transfer

28 months at 0% p.a.

Purchase rate

13.99% p.a. ongoing

Annual fee

$55.00 p.a. ongoing

Highlights

  • Receive up to $400 cashback on your supermarket purchase or benefit from 0% interest for 28 months on Balance Transfers with a 1% balance transfer fee. Reverts to a cash advance rate of 21.49% p.a.
  • Enjoy a low variable interest rate of 13.99% p.a. on purchases.
  • 55 days interest-free on purchases.

Pros

  • Get 10% cashback on your supermarket shop or 0% p.a. for 28 months on balance transfers with a 1% balance transfer fee.
  • 13.99% p.a. low variable interest rate on purchases.
  • Up to 55 days interest-free on purchases.

Cons

  • Balance transfer rate reverts to 21.49% p.a. after 28 months.
  • There are no rewards program for this card.
MONEYME Freestyle Virtual Card

Balance transfer

N/A

Purchase rate

18.74% 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 features.
  • Thousands of 5-star customer reviews

Bank promo

  • Get MONEYME's lowest advertised rate EVER of 18.74% p.a.
  • Annual fee of $0 to $149 p.a. based on credit limit plus a monthly fee of $5 for balances over $20.

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

Balance transfer

N/A

Purchase rate

13.74% p.a. ongoing

Annual fee

$59.00 p.a. ongoing

Highlights

  • Get up to $350 cashback when you apply online by 31 July 2024. Receive a $50 cashback monthly for spending over $1,000 in the first 7 statement periods.
  • Enjoy a low ongoing 13.74% p.a. interest rate on purchases.
  • Annual fee of $59 p.a. applies.

Pros

  • Get up to $350 cashback when you meet the criteria.
  • Low 13.74% p.a. interest rate on purchases.
  • 55 days interest-free on purchases.
  • $500 minimum credit limit.

Cons

  • No rewards program although there is a cashback offer.
  • No complimentary travel insurance.
Westpac Altitude Black Credit Card (Altitude)

Balance transfer

N/A

Purchase rate

19.99% p.a. ongoing

Annual fee

$150.00 for 1st year

Highlights

  • Earn up to 150,000 bonus Altitude Points. Receive 100,000 Altitude bonus points by spending $6,000 on eligible purchases within 120 days of card approval. Additionally, get 50,000 points after your first eligible purchase in year 2. Exclusions apply.
  • Initial $150 p.a. annual fee ($295 p.a. thereafter), applicable to new cardholders only.
  • Earn 6 Altitude points per $1 on Qantas, Jetstar, Singapore Airlines, and Emirates flights bought in Australia, subject to eligibility criteria.

Pros

  • Earn up to 150,000 bonus Altitude Points when you meet the criteria.
  • Additional savings with the $150 first-year annual fee ($295 p.a. thereafter).
  • Earn 1.25 points per $1 spent on eligible purchases
  • Get 2 complimentary lounge passes each year with Priority Pass.

Cons

  • The high annual fee of $295 p.a. after the initial year.
Westpac Altitude Black Credit Card (Qantas)

Apply by 31 July 2024

Westpac Altitude Black Credit Card (Qantas)

Balance transfer

N/A

Purchase rate

19.99% p.a. ongoing

Annual fee

$295.00 p.a. ongoing

Highlights

  • Earn up to 120,000 bonus Qantas Points. Obtain 90,000 points upon spending $6,000 in the initial 90 days from the account approval date. Additionally, receive 30,000 points after making your eligible purchase in the second year.
  • Earn 0.75 Qantas points per $1 spent.
  • Enjoy two (2) complimentary Qantas Club airport lounge passes annually.

Pros

  • Earn up to 120,000 bonus Qantas Points when you meet the criteria.
  • Get a free additional card holder.
  • Comes with complimentary travel insurance.

Cons

  • The $295 p.a. annual fee (plus a $75 Qantas opt-in 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.