Best Credit Cards in Australia 2026: Compared by What You Need

The best credit card in Australia depends on one question: do you pay your balance in full every month? If you do, a rewards card such as the Amex Qantas Ultimate or Qantas Premier Platinum can earn more than its fee. If you don't, a low rate card like NAB Low Rate at 13.49% p.a. saves more. For a free everyday card, Bankwest Zero Platinum is the benchmark. Here is the 2026 market by job, using figures from issuers' websites in September 2026.

Which type of credit card should you get?

Start with the job you need the card to do, then compare cards within that group. Comparing a A$450 rewards card with a free card on headline features alone tells you very little.

Why does paying in full matter so much?

Because interest costs more than rewards earn. As a worked example, assume you spend A$3,000 a month and also carry a A$3,000 balance all year:

• On a rewards card charging 20.99% p.a., the balance costs about A$3,000 × 20.99% = A$630 a year in interest.
• On NAB Low Rate at 13.49% p.a., it costs about A$405, a saving of around A$225.
• At 1 Qantas Point per A$1, A$36,000 of spending earns 36,000 points. Valued at an assumed 1.5 cents each, that is A$540, which does not cover A$630 of interest plus a A$399 fee.

If you pay in full, the interest line disappears and rewards cards start to make sense. Moneysmart makes the same point: cards with more interest-free days and rewards often carry higher rates and fees, which only pay off if you clear the balance.

What is the best rewards or frequent flyer card?

For Qantas flyers who pay in full, the Amex Qantas Ultimate earns the most on everyday spending: 1.25 points per A$1 until 100,000 points a calendar year, with a A$450 Qantas Travel Credit that offsets the A$450 fee if you book a Qantas flight through American Express Travel. On Visa or Mastercard, Qantas Premier Platinum earns 1 point per A$1 on up to A$10,000 of domestic spend a statement period and 1.5 overseas, and ANZ Frequent Flyer Black earns 1 point per A$1 up to A$7,500. Watch for changes: ANZ will pay no points on spending above A$50,000 a statement period from 28 October 2026, and CommBank's spend-based fee waiver on Ultimate Awards ends from January 2027. Our frequent flyer card guide works through the maths.

What is the best no annual fee credit card?

Bankwest Zero Platinum is the strongest free card: no annual fee, no international transaction fee, up to 55 interest-free days and an 18.99% p.a. purchase rate. It needs a A$6,000 minimum limit and, despite some older claims, Bankwest's terms exclude it from complimentary overseas travel insurance. Latitude 28° Global Platinum also charges no international fee but costs A$8 a month after the first year unless you spend A$12,000 a year. See our no annual fee card guide for the full comparison.

What is the best low rate or balance transfer card?

NAB Low Rate is the big-bank benchmark: 13.49% p.a. on purchases (rising to 13.99% from 1 October 2026), a A$99 annual fee, up to 55 interest-free days and a 0% balance transfer offer for 26 months with a 3% fee. Anything left at the end reverts to the cash advance rate of 21.74% p.a., rising to 22.99% from October. ANZ Low Rate matches the 26-month offer with no annual fee in the first year. On A$6,000, a 3% fee is A$180, far less than the interest on a card charging over 20%. Our balance transfer guide sets out a repayment plan.

Is a cashback card better than points?

For people who do not want to manage points, often yes. ING Orange One Rewards Platinum pays 1% cashback on eligible spending, up to A$30 a month or A$360 a year, and charges no ING international transaction fee. It costs A$149 a year, so you need A$14,900 of annual spending to break even, and you must hold an ING Orange Everyday account. Income of at least A$36,000 and a A$6,000 minimum limit apply.

Should you hold more than one credit card?

Two cards can work well if each has a clear job and you pay both in full. A common pairing is an Amex rewards card for places that accept it, plus a free Visa or Mastercard with no international transaction fee for everywhere else and for travel. Each card adds to the total limit lenders see when you apply for other credit, including a home loan, so avoid keeping cards you do not use. Closing one is simpler than it used to be: the government's credit card reforms, which also banned unsolicited credit limit increase offers, made it easier to cancel a card.

How do you get approved for a credit card in Australia?

Show the lender you can afford the whole limit, and apply for one card at a time. The steps are:

1. Check your credit report first. You can get a free report every three months from each credit reporting body, including Equifax, Experian and illion, according to the OAIC.
2. Know the rule lenders apply. Since 1 January 2019, ASIC requires them to assess whether you could repay the full credit limit within three years.
3. Check the minimum limit. NAB Low Rate starts at A$1,000, while Westpac Altitude Black, CommBank Ultimate Awards and ING Orange One Rewards Platinum start at A$6,000 and ANZ Frequent Flyer Black at A$15,000.
4. Have your details ready: income, living expenses and the limits on any cards you already hold, since unused limits count against you.
5. Keep your repayment history clean. Lenders can see two years of monthly repayment history, and an overdue debt of A$150 or more can stay on your report as a default for five years.

What traps should you avoid?

• First-year discounts. Qantas Premier Platinum costs A$349 in year one and A$399 after; Westpac Altitude Black drops to A$200 in year one and then costs A$295.
• International transaction fees. Many rewards cards, including Qantas Premier Platinum, ANZ Frequent Flyer Black and Westpac Altitude Black, charge 3% on foreign transactions.
• Points expiry. Qantas Points expire after 18 months with no activity, Velocity Points after 24 months.
• Cash advances. They attract a fee and a higher rate with no interest-free days; on Bankwest Zero, 21.99% p.a. plus 3% or A$4.
• Rate and fee changes. NAB, ANZ and CommBank all have changes taking effect between late 2026 and early 2027, so read variation notices when they arrive.

Compare the NAB Low Rate and Bankwest Zero Platinum in detail, see how Australia compares in credit cards in the US, Canada, UK and Australia, or browse every card on the Australia credit cards hub.