The big four Australian banks are NAB, Commonwealth Bank, Westpac and ANZ, and between them they administer more than two-thirds of the Australian credit card market.
Although they have a wide range of cards on offer and some good deals, it might be useful to look outside these big four financial giants to see what is available if you want to find better deals, and a new credit card.
The smaller companies have to work a lot harder to get customers, so some of the deals and innovations offered can be quite impressive.
The Aussie MasterCard
Aussie is Australia’s largest financial services provider that is not a bank, and their MasterCard boasts one of the lowest long term interest rates in the whole country.
Upon applying for an Aussie MasterCard you are able to choose between several different promotional deals, including a low interest balance transfer rate or a zero annual fee.
The St George Bank Vertigo Card
This MasterCard is a very low interest offering with low rates and fees for balance transfers as well as purchases, all for only a small annual fee. There is the added advantage of the St George Instant Benefits scheme, which although not a rewards points scheme as such enables you to be eligible for numerous special offers, better deals and discounts.
An interesting additional feature is the Falcon Fraud system which monitors your transactions in real time, and alerts the bank if any suspicious transactions are carried out. Fraudulent use of your credit card is protected, and so long as you are not responsible for the fraud you will be covered should this unfortunately occur.
Woolworths
Offer their Everyday Money Card. This card gives you reward points whenever you shop anywhere, with extra points awarded for shopping at any of the numerous Woolworths group outlets.
These points accumulate until every four months they are turned into a shopping voucher which can be used at any Woolworths store. There is no annual fee for the first year and up to 55 days interest free on purchases.
The Macquarie Bank
This is a relatively small institution however their Platinum Visa card is one of Australia’s leading premium credit cards. There are numerous special offers and benefits and the card offers complimentary travel insurance.
At no extra cost you can add up to four additional card holders, making it a very versatile card and the excellent Macquarie bank reward points scheme makes this card a very popular one
Bankwest Offers better deals with the More MasterCard, with one of the most extensive rewards schemes available, and the ability to add up to three additional cardholders.
