Compare credit cards with perks

Find a credit card that suits your needs. Compare interest rates, balance transfer rates, annual fees and more from Australia's leading lenders, big and small.

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180+ credit card products in RateCity’s database

Mark Bristow

Updated on

22 Oct, 2024

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What is a credit card perk?

Some credit cards provide customers with generous perks and benefits as part of their rewards programs. These can include rewards for regular spending, discounts on ongoing fees and rates and complimentary perks, like insurances and concierge services.

Most credit cards come with perks and extras, but they are typically found with more premium cards like rewards credit cards, frequent flyer credit cards, cashback credit cards and store credit cards.

You may find credit card perks with the more “no frills” basic cards, however, perks are typically reserved for more premium cards, which typically come with higher ongoing costs and higher income eligibility levels.

It’s important to keep in mind that while these perks are generous, they don’t come for free. Perks are used as incentives to get customers to join with that card provider. Meaning, you will typically pay a little (or a lot) more in ongoing fees and/or interest charges for a credit card with perks.

What credit card perks are there?

There are a number of extras that a card provider may offer you. Here is what you can expect when searching for a credit card with perks:

Perk	About	Pros and cons
Reward Points	Dollars spent typically earn you rewards points that can be exchanged in rewards programs for things like home goods, electronics and gift cards.	Earn points for money you would have spent regardless, that can then be exchanged for generous rewards. Some programs cap points or limit the amount you can accrue. Some programs also allow points to expire.
Airport Lounge	Access to airport lounges, such as Qantas lounges, depending on the affiliated airline linked to the credit card.	Access to coveted airport lounges. Passes may be limited.
Concierge	You are provided with a phone number or online login where you can contact a concierge service from anywhere in the world 24 hours a day, seven days a week. Cardholders can use the credit card concierge service for things like restaurant reservations, car hire, flight bookings, tickets to events, sourcing gifts, organising flowers, booking appointments and many other tasks. Each credit card concierge service has a detailed list of terms and conditions outlining each individual service offering.	Helpful concierge service whenever you need it. You still need to pay for any goods and services organised through the concierge.
Discounted Annual Fee	Pay a lower annual fee for a set period of time - typically the first year.	Save money during the discounted period. The standard annual fee may be higher than average.
Free Supplementary Cards	An additional cardholder on a credit card is anyone who you, as the primary account holder, authorise to access and make transactions on your credit card account. Additional cardholders are given their own card, and any transactions they make are charged to the primary account. Typically, additional cardholders can access the same account information as the primary cardholder, but can’t make changes such as updating address details or requesting a new credit limit.	Monitor spending and effectively stick to a budget. Earn extra points through additional spending. Easier to hit spend levels required to access rewards. Your credit is on the line, and any missed payments will impact your credit history. Some providers charge a fee for adding additional cardholders to your account.
Partner Discounts	You may be eligible for discounts from partnered brands, such as fashion, dining, movies and more.	May help cardholders save money on services they were already planning to purchase. Does encourage consumer spending, sometimes on non-essential items or on items consumers were not planning to buy.
Special Events & VIP Seating	Cardholders may gain exclusive access to special events, and VIP seating (such as stadium lounges). These event packages might include preferred seating, a food and drink package, or even meet-and-greets with the performers.	Can be useful for cardholders that frequent events, like concerts and sports matches. Typically associated with higher-cost credit cards.
Dining Benefits	Some cards incentivise cardholders by offering them a free bottle of wine when they use their credit card at select restaurants. Each credit card will have conditions and a list of participating restaurants. The general gist is that when you present or pay with the credit card, you’ll receive a free bottle of wine while you dine.	A handy perk for those who love to dine out. Limited to affiliated restaurants and wine labels.

Keep in mind to check the terms and conditions of a credit card to see what is offered and how it may suit your budget before you apply for anything.

What other extras can I get with my credit card?

Apart from perks and rewards, your credit card may also offer you generous protections as a means of getting you to sign up.

Protection	About
Fraud Protection	Protects you from losing money in the event of fraudulent transactions on your credit card.
Free Domestic Travel Insurance	Entitles you to a level of insurance over when travelling domestically in Australia. Can include anything from luggage cover to cancellation fees and personal liability cover.
Free International Travel Insurance	Entitles you to a level of insurance over when travelling internationally. Can include anything from luggage cover to cancellation fees and personal liability cover.
Extended Warranty	An additional insurance that extends the manufacturer or retailer’s warranty on your purchases.
Purchase Protection Insurance	Protects you against loss, theft or accidental damage
Rental Car Excess Insurance	Covers rental car excess costs in the event of accidents or other issues.
Transit Accident Insurance	Covers yourself or your family in the event of an accident or death while in transit (buses, trains, planes etc.), or while boarding or alighting.
Guaranteed Pricing Scheme	If you find a cheaper price for something you’ve already purchased using your credit card, Guaranteed Pricing Scheme works by paying the difference.

Do credit card perks cost more?

They say there’s no such thing as a free lunch, and that’s also true of credit cards. Perks, protections and rewards on a credit card can cost you more. However, by doing your own credit card comparison you can work to keep these costs as low as possible.

Credit card perks typically cost cardholders in the form of higher annual fees but may also be reflected in higher than average purchase rates and cash advance rates. Annual fees are generally accepted as a cost that keeps card provider rewards programs, perks and protections running. As a rule of thumb, if you want perks, an annual fee is generally par for the course.

Cardholders looking at these types of credit cards will need to meet the card providers eligibility criteria to be approved, and, depending on the level of rewards or platinum status of the card, typically come with higher income thresholds. Meaning, the type of cardholder getting a card with perks is expected to be able to afford the higher fees and interest rates.

The good news is that these costs can be kept low or even avoided altogether if you’re careful with your card comparison. Using a comparison table, like the one on this page, you can filter and compare credit cards with perks, and then sort the cards by purchase rate. Then you can click on the ‘more details’ button for a breakdown of potential fees. This can help you to shortlist credit cards with perks that will help you to keep costs down.

Tip

You can also read the Product Disclosure Statement for a card if a card provider’s website isn’t giving you enough information.

What alternatives are there to using credit card with perks?

If you’re less interested in having a credit card with an extensive rewards program just to get a few perks, there are some alternatives you may want to consider:

Buy-now-pay-later

If you’re just looking for a means to make purchases and repay them back in instalments, you may want to consider using buy-now-pay-later (BNPL) like Afterpay or ZipPay instead. Much like a credit card, you will be able to make a purchase and pay it offer later, without those pesky interest rates.

Store Rewards

If the type of perks you’re after are in the form of store rewards, such as cashback or gift cards, you may want to consider a classic rewards card with said store. For example, the Woolworths Everyday Rewards program is easy to join and rewards you with 1 point per dollar spent in Woolworths and partners. You can choose to get $10 off a future shop or convert to 1,000 Qantas Points every time you reach 2,000 Everyday Rewards points.

Pre-paid money cards

If you’re embarking on an overseas holiday and wanted the ability to store multiple currencies on one card, or lock in a sum at a set currency rate, you may have been considering a credit card that offers these perks. However, there are non-credit card alternatives that do just this, such as pre-paid travel cards. These can be found at your local Australia Post Office, but are also offered by TransferWise, Revoult, Travelex and more.

Transaction accounts with no overseas fees

Another alternative to using a credit card for those looking to keep overseas costs down is to choose a transaction account that does just this. For example, ING’s Orange Everyday account does not charge any international transaction fees online or overseas. You’ll just need to meet its terms and conditions, much like a credit card but simpler, to be eligible for this perk.

Alex Ritchie

Personal Finance Editor

Alex Ritchie was a Personal Finance Writer and Editor at RateCity, and has been writing about Australian finance for over six years. Her expertise and passion covers loans, credit, superannuation, and closing the gender pay gap, and she aims to help young Aussies to overcome their financial apathy. Alongside RateCity, Alex has been published in numerous publications, including Australia's Money Magazine, Business Insider, Lifehacker Australia, and in health via NPS MedicineWise.

This article was reviewed by Personal Finance Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

What is a credit card perk?

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