Credit cards are an important avenue for individuals to build a credit history. Choosing an American Express vs. Visa credit card is a tough choice since they are both high quality products. Ultimately, the choice between the two companies will be driven by a person’s specific credit requirements and the value a person places on any associated benefits offered by a card. Both companies are highly reputable organisations with a strong standing in the global consumer credit market. Visa claims to be the credit card that is used for the largest number of transactions globally, which reflects a strong vote of confidence by a lot of people. American Express, on the other hand, tends to position itself as a company having a long history that offers a relatively higher service level. Let’s dig a little deeper.
MasterCard Credit Card Comparison
| Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest Free Days | |||
|---|---|---|---|---|---|---|---|
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The St. George Vertigo MasterCard is one of Australias most popular credit card. |
13.24% p.a. | 21.49% p.a. | 0.99% p.a. for 12 months | $55 | 55 |   |
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ANZs base credit card, the ANZ Low Rate MasterCard. |
0% p.a. for 3 (reverts back to 13.24% p.a.) | 21.49% p.a. | 0% p.a. for 3 months | $58 | 55 | |
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Low interest rate on purchases with interest free days. Also available in Gold and Platinum. |
10.99% p.a. | 21.99% p.a. | 4.99% p.a. for 12 months | $69 | 55 | |
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One of the cheapest balance transfer credit cards currently on offer. |
1% p.a. for 6 (reverts back to 17.99% p.a.) | 18.99% p.a. | 4.99% p.a. for 12 months | $0 | 55 | |
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Travel accident insurance, 12 month extended warranty on purchases with licensed Australia warranty and purchase protection |
1% p.a. for 6 (reverts back to 17.99% p.a.) | 18.99% p.a. | 4.99% p.a. for 12 months | $0 | 55 | |
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Similar features to the Zero Gold, with added 24/7 concierge service to help you arrange travel, bookings, shopping and medical services. |
1% p.a. for 6 (reverts back to 17.99% p.a.) | 18.99% p.a. | 4.99% p.a. for 12 months | $0 | 55 | |
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Features a free rewards program along with no point expiry. |
20.99% p.a. | 21.74% p.a. | $89 | 55 | |
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Wetpac Low Rate kept everything low – from balance transfers, purchases rate and now a low annual fee. |
19.99% p.a. | 21.49% p.a. | 0.99% p.a. for 6 months | $75 | 45 | |
VISA Credit Card Comparison
| Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest Free Days | |||
|---|---|---|---|---|---|---|---|
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Find out for yourself why the HSBC credit card is making waves… |
17.99% p.a. | 21.99% p.a. | 0% p.a. for 6 months | $0 | 55 | |
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Introductory bonus points offer with 1 Velocity Point per $1 spent up to $1,500 per month, then 1 Velocity Point for every $2. Comes with 4 free flights a year, every year! |
20.99% p.a. | 20.99% p.a. | 1.9% p.a. for 9 months | $99 | 44 | |
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Consolidate your debt with a low balance transfer offer 1.9% for 9 months and a host of platinum privileges. Earn up to 3 Citibank Reward points for every $1 spend. |
20.99% p.a. | 21.74% p.a. | 0.9% p.a. for 9 months | $199 | 55 | |
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The Suncorp Standard credit card is an all-round performer. |
12.74% p.a. | 21.99% p.a. | $27 (Usually $55) | 0 | |
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One of CCCs favourite credit cards, the Citibank Clear Platinum. |
11.99% p.a. | 21.74% p.a. | 2.9% p.a. for 12 months | $99 | 55 | |
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Enjoy the benefits of both a VISA and AMEX linked to one ANZ account! |
19.74% p.a. | 20.99% p.a. | $95 | 44 | |
American Express vs. Visa Annual Fee
Both companies offer cards that charge the user an annual fee; however the overwhelming majority of Visa cards have no annual fee. The annual fee on a credit card can be significant. For example, on a standard or entry level American Express card, the annual fee can range anywhere from $50 to $500, with the company offering the user a one-time rebate of this fee for the first year only. Similarly, Visa’s black card has an annual fee of $500. Fortunately for consumers, both companies also offer cards that have no annual fee. In fact, apart from its black card which is really in a class of its own (as explained further below), all Visa cards have a zero annual fee. The downside to cards with a zero annual fee is that they offer fewer and smaller benefits in terms of points and freebies.
APR Comparison
Credit card companies are required by law to disclose the interest cost applied by a credit card agreement as an annualised interest rate figure. That rate is required to be calculated in a standard way and is known as the annual percentage rate or APR. It is intended to facilitate a clear understanding by consumers of the interest cost applying to their credit card. American Express offers a range of about eight credit cards and the APR varies from around eight to twenty percent. All Visa cards have either a fixed or variable APR option that varies from six to 25 percent. A comparison of the two cards allows two broad conclusions. First, there is little doubt that Visa offers the widest range of APR options. Second, if all other costs and benefits are matched as closely as possible, an American Express vs. Visa comparison reveals Visa to offer generally lower APRs.
Black Cards, Black Magic
Both companies offer a black card considered to be their premium quality product with the highest approved credit availability and overall service level. The cards are attractively designed and are only issued to a very select group of customers, usually by invitation from the company rather than by application by the customer. Black cards are promoted as a status symbol. Perhaps the most important benefit attached to these cards is their global concierge service. This service offers a host of mainly travel-related services including pre-reserved ticket availability to public entertainment events around the world, priority service from selected hotels and airlines, superior travel insurances and so on. Superior benefits can be offered by black cards since they charge the high annual fees and require holders to generate high annual transaction levels. For example, the American Express black card requires annual transactions of at least $250,000. Generally speaking, an American Express vs. Visa comparison of their respective black cards suggests there is little difference between the two. The choice is ultimately up to the consumer.
MasterCard Credit Card Comparison
| Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest Free Days | |||
|---|---|---|---|---|---|---|---|
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Competitive interest rate from one of Australia\’s most respected banks. |
13.24% p.a. | 21.49% p.a. |
0.99% p.a. for 12 months |
$55 | 55 |
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A $0 annual fee for the first year with a low rate on balance transfers and purchases. |
0% p.a. for 5 (reverts back to 19.59% p.a.) | 21.49% p.a. |
3.99% p.a. for 6 months |
$30 | 55 |
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Save with low interest rate on purchases and 12 month balance transfer offer. |
0% p.a. for 3 (reverts back to 13.24% p.a.) | 21.49% p.a. |
0% p.a. for 3 months |
$58 | 55 |
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One of the cheapest low rate credit card available in South Australia. |
13.24% p.a. | 21.49% p.a. |
0.99% p.a. for 12 months |
$55 | 55 |
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Low interest rate on purchases with interest free days. Also available in Gold and Platinum. |
10.99% p.a. | 21.99% p.a. |
4.99% p.a. for 12 months |
$69 | 55 |
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One of the cheapest balance transfer credit cards currently on offer. |
1% p.a. for 6 (reverts back to 17.99% p.a.) | 18.99% p.a. |
4.99% p.a. for 12 months |
$0 | 55 |
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Travel accident insurance, 12 month extended warranty on purchases with licensed Australia warranty and purchase protection |
1% p.a. for 6 (reverts back to 17.99% p.a.) | 18.99% p.a. |
4.99% p.a. for 12 months |
$0 | 55 |
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Similar features to the Zero Gold, with added 24/7 concierge service to help you arrange travel, bookings, shopping and medical services. |
1% p.a. for 6 (reverts back to 17.99% p.a.) | 18.99% p.a. |
4.99% p.a. for 12 months |
$0 | 55 |
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Features a free rewards program along with no point expiry. |
20.99% p.a. | 21.74% p.a. | $89 | 55 |
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A great card for people who uphold their 55 day interest free grace period. Paying $0 each year on your repayments, interest and fees is easily possible with this card. |
20.24% p.a. | 21.74% p.a. |
5.99% p.a. for 5 months |
$24 ($0 for qualifying customers) | 55 |
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Earn up to 50,000 points per year. Online security guarantee. Cash back and Frequent Flyer Awards system, including Bonus Partner Reward Offers. Earn 1.5 Awards points for every $1 spent with a Commonwealth Bank American Express® Card. Enjoy worldwide acceptance at over 29 million places with MasterCard® |
20.74% p.a. | 21.74% p.a. |
5.99% p.a. for 5 months |
$89 ($59 for qualifying customers) | 55 |
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Earn up to 100,000 points per year. Free International Travel/Hospital Insurance for up to 3 months*. Points exchangeable for Frequent Flyer Points. Earn 2 Awards points for every $1 spent with a Commonwealth Bank American Express® Card and enjoy acceptance at 29 million locations with MasterCard® |
20.74% p.a. | 21.74% p.a. |
5.99% p.a. for 5 months |
$144 ($114 for qualifying customers) | 55 |
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Earn up to 150,000 points per year. Travel Insurance for up to 12 months. Extended Insurance /Purchase/Security benefits. Commonwealth Awards Program plus extra Platinum Rewards. |
20.74% p.a. | 21.74% p.a. |
5.99% p.a. for 5 months |
$280 ( $250 for qualifying customers) | 55 |
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19.74% p.a. | 21.74% p.a. |
1% p.a. for 12 months |
$90 | 44 |
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19.74% p.a. | 21.74% p.a. |
1% p.a. for 6 months |
$30 | 44 |
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20.24% p.a. | 21.74% p.a. |
4.99% p.a. for 6 months |
$145.50 | 44 |
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20.24% p.a. | 21.74% p.a. |
4.99% p.a. for 6 months |
$290 | 44 |
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Visa Credit Card Comparison
| Interest Rate (p.a.) | Cash Advance Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest Free Days | |||
|---|---|---|---|---|---|---|---|
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Benefit from a special introductory rate on purchases of 0% for 5 months and a $0 annual fee for the first year. |
0% p.a. for 5 (reverts back to 19.59% p.a.) | 21.49% p.a. |
3.99% p.a. for 6 months |
$30 | 55 |
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A low rate and fee for a Platinum card. 25% off a range of Citibank World Privileges, inc. shopping, dining and travel. Visa Platinum Privileges. |
11.99% p.a. | 21.74% p.a. |
2.9% p.a. for 12 months |
$99 | 55 |
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A guaranteed $0 annual fee each year plus a 0% balance transfer offer for the first 6 months. |
17.99% p.a. | 21.99% p.a. |
0% p.a. for 6 months |
$0 | 55 |
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Introductory bonus points offer with 1 Velocity Point per $1 spent up to $1,500 per month, then 1 Velocity Point for every $2. Comes with 4 free flights a year, every year! |
20.99% p.a. | 20.99% p.a. |
1.9% p.a. for 9 months |
$99 | 44 |
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Consolidate your debt with a low balance transfer offer 1.9% for 9 months and a host of platinum privileges. Earn up to 3 Citibank Reward points for every $1 spend. |
20.99% p.a. | 21.74% p.a. |
0.9% p.a. for 9 months |
$199 | 55 |
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With a fabulous ongoing purchase rate, freebies and a no annual fee for life you can’t go wrong with the eagerly anticipated brand new Virgin No Annual Fee Credit Card. Surprise your partner today with a free additional card. |
18.99% p.a. | 20.99% p.a. |
2.9% p.a. for 6 months |
$0 | 44 |
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The Westpac Low Rate Visa is the perfect card for those who are after a simple credit card with a low ongoing interest rate, 55 days interest free and a low annual fee. |
0% p.a. for 6 (reverts back to 13.49% p.a.) | 21.49% p.a. |
0% p.a. for 6 months |
$45 | 55 |
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The ANZ First Visa is the ideal everyday credit card to make purchaes, pay bills and withdraw cash with. It also has a surprisingly low annual fee. |
0% p.a. for 3 (reverts back to 19.24% p.a.) | 20.99% p.a. |
0% p.a. for 3 months |
$30 | 44 |
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No credit history required. $3 a month for students, $6 otherwise. |
% p.a. | $72 | 0 |
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Earn 1 Frequent Flyer point for every $1 spent on your American Express card, and 1 point for every $2 spent on your Visa. Uncapped Frequent Flyer earnings. Both cards linked to same account with one annual fee, credit limit and statement. |
19.74% p.a. | 20.99% p.a. | $95 | 44 |
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The ANZ Frequent Flyer Platinum Credit Card allows you to maximise your Qantas Frequent flyer points on everyday purchases at up to 1.5 points per $1 spend.Plus earn 20,000 Bonus Qantas Points if you apply by 30 September 2011. |
19.74% p.a. | 20.99% p.a. | $295 | 55 |
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One of the cheapest low rate credit card available in South Australia. |
15.99% p.a. | 21.49% p.a. |
3.99% p.a. for 6 months |
$89 | 55 |
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A fairly competitive low interest rate credit card. Does not match up against other low rate cards, or the Clear Platinum. |
15.99% p.a. | 21.74% p.a. | $65 | 55 |
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Free linking to your FlyBuys account. Additional cardholder complimentary. |
19.74% p.a. | 21.74% p.a. |
1% p.a. for 6 months |
$30 | 44 |
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Available as Visa or MasterCard. Complimentary overseas travel insurance. |
19.74% p.a. | 21.74% p.a. |
1% p.a. for 12 months |
$90 | 44 |
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Also a exceptionally low platinum card interest rate, and annual fee. Extensive travel insurance and benefits, and a 5 star Cannex credit card rating. |
15.99% p.a. | 21.49% p.a. |
3.99% p.a. for 6 months |
$89 | 55 |
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