Mastercard credit cards

Comparison of Mastercard credit card rates, fees, and features.

By Verified by David Boyd   |   Updated 11 Sep 2024

As seen on

Media - The Sydney Morning Herald
Media - Yahoo Finance
Media - News.com.au
Media - Daily Mail Australia
Media - Australian Fintech
Media - Dynamic Business

Comparing of 15 Mastercard credit cards

Bankwest Breeze Mastercard

Balance transfer

12 months at 0% p.a.

Purchase rate

12 months at 0% p.a.

Interest-free days

55 days

Annual fee

$49.00 p.a. ongoing

Highlights

  • Benefit from 0% p.a. interest on balance transfers for 12 months (with a 2% BT fee, then 12.99% p.a.).
  • 0% p.a. for 12 months on purchases (returning to 12.99% p.a.).
  • Enjoy up to 55 interest-free days on purchases.
  • Exclusive offer for new customers for a limited time. Additional charges, as well as terms and conditions, apply.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • 0% p.a. for 12 months on purchases.
  • Up to 55 interest-free days on purchases.

Cons

  • There are no rewards on this card.
  • There is a 2% BT fee.
Bankwest Breeze Platinum Mastercard

Balance transfer

12 months at 0% p.a.

Purchase rate

12 months at 0% p.a.

Interest-free days

55 days

Annual fee

$69.00 p.a. ongoing

Highlights

  • Experience 0% p.a. interest on balance transfers for 12 months (with a 2% BT fee, then 12.99% p.a.).
  • 0% p.a. for 12 months on purchases (reverting to 12.99% p.a.).
  • Benefit from up to 55 interest-free days.
  • Offer exclusively for new customers within a specified period. Additional charges, along with terms and conditions, apply.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • 0% p.a. for 12 months on purchases.
  • No foreign transaction fees. Plus, complimentary overseas travel insurance for you and your family.

Cons

  • There is no rewards program on this card.
  • There is a 2% BT fee.
Bankwest Zero Mastercard

Balance transfer

28 months at 0% p.a.

Purchase rate

14.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$0.00 p.a. ongoing

Highlights

  • Avoid annual fees for the duration of card ownership.
  • 0% p.a. for 28 months on transferred balances (with a 3% balance transfer fee). Returns to 14.99% p.a. thereafter.
  • Enjoy up to 55 days interest-free on purchases.
  • Offer exclusive to new customers for a limited time. Additional fees and charges, as well as terms and conditions, apply.

Pros

  • There is no annual fee for as long as you keep the card.
  • The current balance transfer offer is extremely competitive.
  • Interest on purchases is comparatively low.

Cons

  • Balance transfers incur a one-off fee.
  • You cannot earn credit card points.
Bankwest Zero Platinum Mastercard

Balance transfer

28 months at 0% p.a.

Purchase rate

14.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$0.00 p.a. ongoing

Highlights

  • Annual fee waived.
  • 0% p.a. interest for 28 months on transferred balances (with a 3% balance transfer fee). Returns to 14.99% p.a. thereafter.
  • No charges for foreign transactions.
  • Offer valid for new customers within a specified timeframe. Additional fees and terms and conditions apply.

Pros

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

Cons

  • There is a 3% fee on balance transfers.
  • You can't earn rewards points.
Westpac Low Rate Cashback Credit Card

Apply by 30 November 2024

Westpac Low Rate Cashback Credit Card

Balance transfer

N/A

Purchase rate

13.74% p.a. ongoing

Interest-free days

55 days

Annual fee

$59.00 p.a. ongoing

Highlights

  • Get up to $350 cashback when you apply online by 30 November 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 Platinum Credit Card (Qantas)

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Interest-free days

45 days

Annual fee

$119.00 for 1st year

Highlights

  • Receive up to 80,000 bonus Qantas Points. Acquire 60,000 Qantas Points in the first year upon spending $4k+ on eligible purchases within the initial 90 days from new card approval, and an additional 20,000 points after your first eligible purchase in the second year..
  • Initial $119 p.a. annual fee followed by $175 p.a. thereafter (Plus a $75 Qantas Rewards opt-in annual fee).
  • Earn 0.5 Qantas points per $1 spent on eligible purchases.

Pros

  • Receive up to 80,000 bonus Qantas Points when you meet the criteria.
  • Additional savings with the $119 first-year annual fee ($175 p.a. thereafter).
  • Comes with complimentary insurance covers which include overseas medical and purchase security.

Cons

  • Only up to 45 days interest-free on purchases.
Westpac Altitude Black Credit Card (Altitude)

Balance transfer

N/A

Purchase rate

20.99% p.a. ongoing

Interest-free days

45 days

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.
MONEYME Freestyle Virtual Card

Balance transfer

N/A

Purchase rate

From 18.24% p.a. ongoing

Interest-free days

55 days

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.
Qantas Premier Platinum Credit Card

Balance transfer

12 months at 0% p.a.

Purchase rate

19.99% p.a. ongoing

Interest-free days

55 days

Annual fee

$349.00 for 1st year

Highlights

  • Earn up to 100,000 bonus Qantas Points. Receive 70,000 bonus Qantas Points when you spend $3,000 or more on eligible purchases within 3 months from card approval. Plus an additional 30,000 bonus points if you have not earned Qantas Points with a credit card in the last 12 months. Terms and Conditions apply.
  • Enjoy 0% on Balance Transfer for 12 months with no Balance Transfer fee. Reverts to Cash Advance rate, thereafter. No interest-free days apply on retail purchases while you have a balance transfer.
  • Save with the reduced annual fee of $349 p.a. for the first year. An ongoing annual fee of $399 p.a. applies in the 2nd year.

Pros

  • Earn up to 100,000 bonus Qantas Points when you meet the criteria.
  • 0% p.a. for 12 months on balance transfers.
  • Additional savings with the $349 first-year annual fee.
  • Comes with complimentary travel insurance.

Cons

  • The annual fee increases to $399 p.a. after the initial year.
CommBank Neo

Balance transfer

N/A

Purchase rate

0% p.a. ongoing

Interest-free days

N/A

Annual fee

$0.00 p.a. ongoing

Highlights

  • No interest, no late fees.
  • A choice of three credit limits; $1,000, $2000 or $3,000
  • Simple monthly fee of $12, $18 or $22, based on your credit limit.

Pros

  • No interest, no late fees.
  • No foreign exchange or additional cardholder fees.
  • Cashback benefits for eligible cardholders.

Cons

  • No Awards points for this card.
  • Low credit limits.
  • No balance transfers.
Westpac Flex Card

Balance transfer

N/A

Purchase rate

0% p.a. ongoing

Interest-free days

N/A

Annual fee

$0.00 p.a. ongoing

Highlights

  • 0% interest and $0 late payment fee.
  • $10 monthly fee, or no outstanding balance, $0 fee.
  • Access to Westpac Extras and Rewards.

Pros

  • No interest charges.
  • Pay no monthly fee if you do not have any outstanding balance.
  • Choose to repay monthly or twice a month, plus pay back more at any time.
  • No late payment fees.

Cons

  • Low credit limit.
  • No balance transfers or cash advances.
  • Lacks the ability to earn rewards.
Latitude 28° Global Platinum Mastercard®

Balance transfer

N/A

Purchase rate

27.49% p.a. ongoing

Interest-free days

55 days

Annual fee

$0.00 p.a. ongoing

Highlights

  • $0 yearly fee.
  • No foreign transaction fees for purchases during travel or online shopping.
  • You and four friends can access airport lounges, drinks, and Wi-Fi if your flight is delayed.

Pros

  • The $0 annual fee.
  • No currency conversion fee or foreign transaction fee.
  • Get 6% off your stay with Booking.com.
  • Enjoy up to 55 days interest-free on purchases.

Cons

  • A high purchase interest rate of 27.49% p.a.
  • Cash advance rate is 29.99% p.a.
  • There is no rewards program on this card.

Coles Rewards Mastercard

Apply by 5 November 2024

Coles Rewards Mastercard

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Interest-free days

55 days

Annual fee

$99.00 p.a. ongoing

Highlights

  • Receive 50,000 Flybuys bonus points upon spending $3,000 or more on eligible purchases within 90 days of approval. Terms and Conditions apply.
  • Earn 2 points per $1 on eligible spend—this is in addition to the regular Flybuys Points earned from other partners.
  • Pay $0 in international transaction fees for purchases made online or overseas.

Pros

  • Get 50,000 Flybuys bonus points when you meet the criteria.
  • Collect 2 points per $1 on eligible spend – that’s on top of the usual flybuys points from other partners.
  • Access to the Coles concierge service.

Cons

  • The annual fee of $99 p.a.
  • No international travel insurance.
Coles No Annual Fee Mastercard

Apply by 30 September 2024

Coles No Annual Fee Mastercard

Balance transfer

N/A

Purchase rate

20.74% p.a. ongoing

Interest-free days

55 days

Annual fee

$0.00 p.a. ongoing

Highlights

  • Enjoy 10,000 Flybuys bonus points when you spend $3,000 on eligible purchases within 3 months from card approval.
  • No annual fee, guaranteed.
  • Earn 1 Flybuys point per $2 spent on qualifying purchases.

Pros

  • Earn 10,000 Flybuy points when you meet the criteria.
  • No annual fee ever.
  • Complimentary access to your 24/7 local concierge.

Cons

  • Transactions made in a foreign currency incur a fee.
Coles Low Rate Mastercard

Apply by 5 November 2024

Coles Low Rate Mastercard

Balance transfer

15 months at 0% p.a.

Purchase rate

13.49% p.a. ongoing

Interest-free days

55 days

Annual fee

$58.00 p.a. ongoing

Highlights

  • 0% per annum (p.a.) for balance transfers spanning 15 months. Afterward, it reverts to the cash advance rate of 20.74% p.a.
  • Enjoy a modest annual fee of $58 p.a.
  • Earn 1 Flybuys Point for every $2 spent at Coles Supermarkets.

Pros

  • 0% p.a. on balance transfers for 15 months.
  • Complimentary access to your 24/7 local concierge.
  • Interest-free for up to 55 days.

Cons

  • There is a 1.5% balance transfer fee.
  • You can only earn Flybuys points at Coles Supermarkets.
  • No interest-free days while you have a balance transfer.