Coles

Best Credit Cards in Australia (2026)

Here's a breakdown of what Australians actually use and what's rated highly right now, organized by what you're looking for:

The Big Players

The big four banks — CommBank, NAB, Westpac and ANZ — dominate issuance, but a wide range of non-bank and specialist issuers offer competitive alternatives, particularly in the low-rate and no-annual-fee segments. With 128 issuers in the market, competition for cardholders is strong.

Top Picks by Category (Finder Awards 2026)

ANZ won the most awards, including the best balance transfer with its Low Rate card, rewards credit card with its Rewards Black Credit Card, and Qantas frequent flyer card with its Frequent Flyer Black. American Express and NAB each claimed three wins as well.

Other standout category winners include:

• Best balance transfer: Virgin Australia Velocity Flyer Card - Balance Transfer Offer
• Best business card: American Express Platinum Business Card
• Best cashback card: ANZ Platinum Credit Card

For Frequent Flyer Points

If you fly Qantas or Virgin often, these are getting strong marks:

• ANZ Frequent Flyer Black — As of 01/09/2026, offers up to 130,000 bonus Qantas Points plus $200 cashback
• Westpac Altitude Qantas Black — offers up to 150,000 Qantas Points across two years
• Amex Velocity Platinum — Earn 1.25 points per $1 on everyday spend and 2.25 points per $1 on eligible purchases within Virgin Australia

For Low Fees / No-Frills Use

If you just want a simple everyday card without the rewards bells and whistles:

• Community First Bank Low Rate Card — interest rate of 9.99% p.a. on purchases along with a reasonable $50 annual card fee and up to 55 days interest free on retail purchases when you pay in full on time, with limits from $500
• American Express Low Rate Card — 10.99% p.a. with $0 annual fee
• Bankwest Zero Platinum Mastercard — no annual fee and 0% on purchases for the first 6 months (then 18.99% p.a.)
• Coles No Annual Fee Mastercard — good if you want basic Flybuys rewards without paying a fee

Card Network Acceptance

Worth noting: Mastercard and Visa credit cards are widely accepted across Australia, while American Express is not accepted everywhere (at Aldi, for example) though most major retailers accept it now, and the numbers grow each year — American Express added over 610,000 new merchant locations in 2024.

A Few Important 2026 Notes

1. Big surcharge change coming: The Reserve Bank of Australia is banning surcharges on Visa, Mastercard and eftpos from 1 October 2026, meaning merchants can no longer add a surcharge when you pay by card on these networks — though American Express and PayPal are exempt and can still surcharge. This makes Amex slightly less appealing for everyday spend if merchants pass on fees.

2. Rewards vs. low-rate — pick based on habits: You should choose a rewards card only if you pay your balance in full every month — if you carry a balance even occasionally, interest at 20.99% p.a. will quickly outweigh any points earned.

3. The interest rate reality:

The best credit cards in Australia right now (as of early September 2026) depend on your spending habits, whether you want rewards/points, low or no fees, balance transfers, travel perks, or cashback.

Aussies commonly use cards from the major banks (ANZ, CommBank/CBA, NAB, Westpac), American Express for premium rewards, and options like Kogan Money or Bankwest for lower costs. Visa and Mastercard dominate acceptance, while Amex is great for points but not accepted everywhere.

Always pay your balance in full each month to avoid high interest (typically 20%+ p.a.), compare current offers on sites like Finder or Mozo, and read the Product Disclosure Statement (PDS) as bonuses, fees, and terms change frequently. Note upcoming RBA reforms (effective around October 2026) that may affect surcharges and rewards structures.

Here are standout recommendations based on recent expert comparisons (Finder, Mozo, Canstar, etc.), focusing on cards people actually use for rewards, value, or everyday spending:

Top Rewards & Frequent Flyer Cards (Popular for Points Chasers)

These are widely used by Aussies maximising Qantas or Velocity points on everyday spend, groceries, and travel:

• Qantas American Express Ultimate Card: Often tops "best frequent flyer" lists. Strong earn rates (e.g., 1.25 pts per $1), big sign-up bonuses (up to 120,000+ Qantas Points), $450 annual Qantas Travel Credit, and lounge access. Great for Qantas loyalists.
• ANZ Rewards Black / Frequent Flyer Black: Frequently wins or places highly for rewards. High bonus points (e.g., up to 180,000), solid ongoing earn rates, and useful for transferring to Qantas or Velocity. ANZ cards are among the most awarded overall.
• American Express Velocity Platinum or Qantas co-branded cards: Strong for Velocity points or flexible Membership Rewards. High bonuses and good for travel perks; Amex is a top provider for rewards value.
• Other notables: Qantas Money Platinum (solid Qantas earn and bonuses) and NAB Qantas-linked cards.

Best No/Low Annual Fee & Everyday Cards (Widely Used for Simplicity)

These suit many Aussies who want minimal costs and rewards without premium fees:

• Kogan Money Credit Card (various offers, including balance transfer exclusives): Repeatedly wins "best no annual fee" categories. $0 ongoing fee, rewards points, and competitive rates—practical for everyday use.
• Bankwest Breeze Platinum Mastercard or similar low-rate options: Strong for travel (no/low FX fees in some versions), low ongoing rates, and value. Bankwest often wins travel-related categories.
• Low-rate cards from smaller providers (e.g., Greater Bank, MOVE Bank, or credit unions) for the cheapest purchase rates if you carry a balance occasionally.

Best for Cashback, Balance Transfers, or Business

• ANZ Platinum Credit Card: Tops cashback categories with credits or rebates.
• Balance transfer specialists: Latitude or Virgin Velocity-linked offers with 0% intro periods (watch fees).
• American Express Platinum Business Card: Popular for business users with high bonuses and employee cards.

Other Popular Mentions

• CommBank (CBA) Awards/Smart Awards cards: Common for everyday banking integration, flexible points, and fee waivers with spending thresholds.
• Coles Rewards Mastercard or similar store-linked cards: Used by many for Flybuys points on groceries.

Customer favourites often include ING (high satisfaction scores), Amex (trusted for rewards), and the big four banks for reliability and branch support.

Quick tips for Aussies:

• Factor in your monthly spend—premium cards (e.g., $300–$1,750 fees) pay off with high usage via points/redemptions.
• No-FX-fee or travel-focused cards like certain Bankwest or NAB options suit overseas trips.
• Check eligibility (income, credit score) and current sign-up bonuses, which can be worth hundreds in value.
• For the latest, compare directly on finder.com.au or mozo.com.au, as offers shift quickly.

If you share more about your spending (e.g., travel, groceries, business) or priorities (points vs low fees), I can refine these suggestions!

Some of the top credit cards in Australia in 2026 include American Express Platinum, NAB Rewards Platinum, Coles Rewards Mastercard, and Bankwest More World Mastercard, catering to various needs from rewards points to low fees and balance transfers.

Reward and Premium Cards

American Express Platinum Card – Offers up to 300,000 Membership Rewards points for eligible spending and premium perks such as airport lounge access and travel insurance. Its annual fee is higher at $1,450, but it’s popular among frequent travelers Money.com.au.

American Express Explorer Credit Card – Earns up to 75,000 Membership Rewards points, with a $395 annual fee. It provides travel perks and flexible reward options, making it attractive for frequent flyers Money.com.au.

Coles Rewards Mastercard – Suited for everyday shopping, it earns up to 40,000 Flybuys points. It has a more affordable $99 annual fee and cashback/redemption options for groceries and retail Money.com.au.

NAB Rewards Platinum Credit Card – Offers 100,000 NAB Rewards points, with a $195 annual fee. It provides points that can be redeemed across multiple partners and travel benefits, ideal for regular spenders Money.com.au.

Low-Fee and Low-Interest Cards

Kogan Money Credit Card – 0% p.a. for 9 months on purchases, no annual fee, and attracts a standard 21.99% p.a. afterward. Excellent for cost-conscious users who want short-term interest-free options Money.com.au+1.

Coles No Annual Fee Mastercard – No ongoing annual fees and 0% p.a. for 12 months on balance transfers, catering to budget-focused users Canstar.

Bankwest Zero Platinum Mastercard – Offers 0% p.a. for 6 months with a 3% balance transfer fee and an 18.99% p.a. revert rate. Low-maintenance for short-term credit management Canstar.

Frequent Flyer Cards

American Express Qantas Ultimate Card – Earns up to 120,000 Qantas Points with a $450 annual fee, plus travel insurance and rewards for everyday purchases. Excellent for regular Qantas flyers Money.com.au.

NAB Rewards Platinum with Velocity Points – Earns 90,000 Velocity Points, suitable for frequent flyers seeking redemption options with Virgin Australia Money.com.au.

BankVic Qantas Visa Credit Card – A cost-effective option for collecting Qantas points while earning low or moderate rewards Canstar.

Balance Transfer Options

MyCard Simplicity and MyCard Premier – Offer 0% p.a. for 6 to 20 months on balance transfers. Ideal for consolidating debt while minimizing interest charges Money.com.au.

Westpac Low Rate Card – 20 months of 0% on balance transfers followed by a standard 21.99% p.a., suitable for managing existing credit card debt Canstar.

How to Choose

Frequent spender on travel or retail: Consider rewards or frequent flyer cards. Looking to pay off debt: Choose balance transfer cards with long 0% offers. Low-cost management: Opt for low or no annual fee cards. International use: Check for foreign exchange fee-free options (often American Express cards).

The best choice depends on your spending habits and repayment plans, but the above cards represent widely-used and highly-rated options for different financial goals in Australia Money.com.au+2.

The credit card market in Australia is heavily shaped by two things: airline ecosystem dominance (Qantas Frequent Flyer vs. Velocity) and interchange fee caps, which mean Australian cards generally offer lower "base" reward rates than US cards unless you pay a high annual fee.

Because "best" depends on how you spend, Australians usually pick cards based on specific strategies. Below is a breakdown of the top credit cards people actually use, grouped by category.

✈️ Best for Qantas Frequent Flyer (The Big Ecosystem)

Qantas Frequent Flyer is Australia's largest airline loyalty program. Most people look for high sign-up bonus points or premium travel perks.

American Express Qantas Ultimate Card: Standout Perk: Highest ongoing Qantas point-earning rate on everyday spend. Key Features: Includes an annual travel credit that offsets most of the high annual fee, Qantas Club lounge passes, and comprehensive travel insurance. ANZ Frequent Flyer Black: Standout Perk: Top bank-issued Qantas card with massive sign-up point bonuses. Key Features: 1 Qantas point per $1 domestically (uncapped up to $7,500/month), Qantas lounge invitations, and international travel insurance. Highly popular for "point churning".

🦘 Best for Velocity / Flexible Rewards

If you prefer Virgin Australia’s Velocity program, or want flexible points that you can transfer to multiple airlines, these are the heavy hitters.

American Express Explorer Credit Card: Standout Perk: Ultimate flexibility. Earns Amex Membership Rewards points that can be transferred to multiple airline partners (Velocity, Qatar, Singapore Airlines, etc.). Key Features: $400 annual travel credit, smartphone screen insurance, and complimentary lounge entries. ANZ Rewards Black Credit Card: Standout Perk: Excellent non-Amex option for flexible reward structures. Key Features: High points earning rate through ANZ's program, complimentary travel insurance, and access to partner airport lounges.

💳 Best for Everyday Cash Back & Zero Fees

Many Aussies don't want to play the frequent flyer game or pay massive annual fees just to clear a profit.

Bankwest Zero Platinum Mastercard: Standout Perk: The ultimate "set-and-forget" card for international travelers. Key Features: $0 annual fee and 0% foreign transaction fees, making it a massive favorite for online shopping on international sites or physical overseas travel. MONEYME Cashback Rewards Credit Card: Standout Perk: Direct, simple cash back without airline points gimmicks. Key Features: Flat 1% cash back on everyday spend (groceries, transport, coffee) added straight back to your balance, plus phone insurance.

🛒 Best for Supermarket Churners

If you do the bulk of your grocery shopping at Coles, using a store-branded card helps rack up points easily.

Coles Rewards Mastercard: Standout Perk: Boosts your Flybuys balance automatically. Key Features: Earns Flybuys points on every purchase (which can be used for money off groceries at Coles or transferred to Velocity points), and features a relatively low annual fee compared to premium bank cards.

🔍 How Aussies Choose: Points Churning vs. Everyday Card

The Churners: Many people in Australia "churn" cards. They apply for a premium card (like ANZ Black or Westpac Altitude Black), spend the required minimum in the first 90 days to trigger the 100k+ sign-up bonus points, and then cancel the card before the second year's annual fee hits. The Keepers: If you want one card to hold onto forever, look tightly at whether you spend enough to justify an annual fee. If your monthly spend is under $2,000, sticking with a $0 annual fee card (like Bankwest Zero) is usually the most profitable move.

To point you toward the exact right card, tell me:

Are you looking to earn airline points or get low fees / cash back? Approximately how much do you plan to spend on the card per month? Do you plan to pay the balance off in full every single month?