Types of Credit Cards
Rewards cards earn points on spending that can be redeemed for flights, gift cards, or merchandise. Best for high spenders who pay off in full each month. Annual fees range from $49-450. Low rate cards charge 8-13% interest compared to the standard 20-22%. Best if you carry a balance. Cashback cards return a percentage of spending as cash. No annual fee cards have zero yearly cost but fewer perks.
Top Picks
| Card | Type | Annual Fee | Key Benefit |
|---|---|---|---|
| ANZ Rewards Platinum | Rewards | $0 first year | 2 Velocity points per $1 |
| Bankwest Breeze | No fee | $0 | No annual fee, low rate option |
| Coles Rewards | Rewards | $99 | Flybuys points, $100 gift card |
| HSBC Platinum | Cashback | $199 | 2% cashback on tap purchases |
Tips for New Migrants
Credit card approval depends on your credit history. New migrants with no Australian credit history should start with a low-limit card from their main bank or a secured credit card. After 6-12 months of responsible use, you can apply for better cards with higher limits and rewards. Always pay your full balance each month to avoid interest charges that negate any rewards value.