Find and compare purchase protection credit cards

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Purchase Rate
Annual Fee
Interest Free Days
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Purchase Rate

19.99%

Annual Fee

$0

for 12 months then $149

Interest Free Days

55

$12.5

More details

Purchase Rate

19.74%

Annual Fee

$30

Interest Free Days

44

$15

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Purchase Rate

20.24%

Annual Fee

$95

Interest Free Days

55

$20

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Purchase Rate

20.24%

Annual Fee

$375

Interest Free Days

55

$20

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Purchase Rate

0.90%

for 15 months then 14.99%

Annual Fee

$99

Interest Free Days

55

$30

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Purchase Rate

16.99%

Annual Fee

$125

Interest Free Days

55

$20

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Purchase Rate

20.74%

Annual Fee

$99

Interest Free Days

44

$30

More details

Purchase Rate

21.49%

Annual Fee

$99

for 12 months then $199

Interest Free Days

55

$30

More details

Purchase Rate

20.74%

Annual Fee

$195

Interest Free Days

55

$30

More details

Purchase Rate

23.99%

Annual Fee

$79

Interest Free Days

55

$30

More details

Purchase Rate

20.74%

Annual Fee

$295

Interest Free Days

44

$30

More details

Purchase Rate

14.99%

Annual Fee

$0

Interest Free Days

55

$30

More details

Purchase Rate

20.74%

Annual Fee

$395

Interest Free Days

55

$30

More details

Purchase Rate

20.74%

Annual Fee

$99

Interest Free Days

44

$30

More details

Purchase Rate

20.74%

Annual Fee

$450

Interest Free Days

44

$30

More details

Purchase Rate

20.74%

Annual Fee

$249

Interest Free Days

44

$30

More details

Purchase Rate

20.74%

Annual Fee

$0

Interest Free Days

44

$30

More details

Purchase Rate

20.74%

Annual Fee

$295

Interest Free Days

44

$30

More details

Purchase Rate

8.99%

Annual Fee

$0

Interest Free Days

55

$30

More details

Purchase Rate

20.24%

Annual Fee

$99

for 12 months then $129

Interest Free Days

55

$10

More details

Purchase Rate

12.99%

Annual Fee

$49

Interest Free Days

55

$10

More details

Purchase Rate

20.70%

Annual Fee

$99

Interest Free Days

55

$35

More details

Purchase Rate

20.70%

Annual Fee

$149

Interest Free Days

55

$35

More details

Purchase Rate

20.70%

Annual Fee

$99

Interest Free Days

55

$35

More details

Purchase Rate

20.70%

Annual Fee

$149

Interest Free Days

55

$35

More details

Purchase Rate

19.99%

Annual Fee

$250

Interest Free Days

44

$15

More details

Purchase Rate

19.99%

Annual Fee

$295

Interest Free Days

44

$15

More details

Purchase Rate

19.99%

Annual Fee

$295

for 12 months then $395

Interest Free Days

44

$15

More details

Purchase Rate

19.99%

Annual Fee

$195

Interest Free Days

44

$15

More details

Purchase Rate

11.31%

Annual Fee

$99

Interest Free Days

45

$5

More details

Purchase Rate

20.24%

Annual Fee

$425

Interest Free Days

55

$20

More details

Purchase Rate

20.24%

Annual Fee

$0

for 12 months then $30

Interest Free Days

55

$20

More details

Purchase Rate

0.00%

for 17 months then 20.24%

Annual Fee

$0

for 12 months then $87

Interest Free Days

55

$20

More details

Purchase Rate

0.00%

for 15 months then 12.99%

Annual Fee

$99

Interest Free Days

55

$15

More details

Purchase Rate

18.24%

Annual Fee

$189

Interest Free Days

55

$15

More details

Purchase Rate

20.50%

Annual Fee

$120

Interest Free Days

55

$30

More details

Purchase Rate

12.99%

Annual Fee

$99

Interest Free Days

55

$15

More details

Purchase Rate

20.49%

Annual Fee

$99

for 12 months then $150

Interest Free Days

45

$15

More details

Purchase Rate

20.49%

Annual Fee

$99

for 12 months then $200

Interest Free Days

45

$15

More details

Purchase Rate

20.49%

Annual Fee

$250

Interest Free Days

45

$15

More details

Purchase Rate

19.74%

Annual Fee

$99

Interest Free Days

55

$15

More details

Purchase Rate

19.74%

Annual Fee

$279

Interest Free Days

55

$15

More details

Purchase Rate

11.99%

Annual Fee

$69

Interest Free Days

$30

More details

Purchase Rate

0.00%

for 15 months then 12.99%

Annual Fee

$49

for 12 months then $99

Interest Free Days

55

$15

More details

Purchase Rate

19.74%

Annual Fee

$90

Interest Free Days

44

$15

More details

Purchase Rate

6.99%

for 6 months then 16.95%

Annual Fee

$50

Interest Free Days

55

$15

More details

Purchase Rate

19.99%

Annual Fee

$1200

Interest Free Days

55

$30

More details

Purchase Rate

20.49%

Annual Fee

$270

Interest Free Days

44

$25

More details
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Many credit cards have a purchase protection feature. Purchase protection means that customers are entitled to a refund of certain items they buy using a credit card. Take note, however, that the refund only applies until a certain time period after the purchase is made. This feature is convenient for cases wherein the price often fluctuates, especially in major purchases such as plane flights. By offering purchase protection in a credit card, customers are also encouraged to make the purchase without worrying if the price will drop or not.

The purchase protection feature is a perk of some credit cards, especially in platinum and gold cards. Standard credit cards may also offer purchase protection, but it may sometimes come with a fee and conditions may vary from one credit card company to another.

Conditions

The conditions also vary among credit card companies, which is why it is important to read through the terms and conditions of the product coverage before purchasing a credit card.

A credit card purchase protection will generally apply to selected items. Consumable goods or vehicles are usually excluded from the purchase protection feature. The purchase protection will usually last for up to three months since the date of purchase; however, others can last as long as six months, depending on the circumstances.

Lastly, take note that there the claim limits of purchase protection usually amount to around $50,000 per year. 

Pros

The best part of purchase protection is that it ensures that you can get reimbursed – and that you can report theft or damage immediately. Making the purchase by credit card also ensures that these purchases are tracked and that there is a clear record of it.

The credit card company and insurance company will take the necessary steps to make sure you get a refund for whatever goes wrong in your purchase.

Cons

It is important to note that the purchase protection feature is a type of insurance. This means that credit card companies also aim to encourage customers to spend on an item without worrying too much about not getting reimbursed in the event that the item is lost, stolen or damaged.

That being said, overspending is something to watch out for. It is easier to overspend knowing that your credit card has that safety net that comes in the form of purchase protection.

Second, there is also a risk that your details will be compromised the more you use your card, so be sure to use it at, say, a major retailer that you trust. Even then, it is always good to think twice before making that credit card swipe.

How do I make an insurance claim for a purchase?

First, you must contact the insurance company and provide details of the item purchase and proof that it was purchased with your credit card within the time frame specified. Supporting documentation should also be at hand, which includes online or print receipts. If the purchased item was stolen, lost, or damaged, proof of this will be needed, as well.

It usually takes 14 days to find out if the claim was successful.

However, take note that the process of making a purchase protection claim also varies, so it is best to check with your credit card company or insurance company first.

FAQs

What should you do if your credit card is compromised?

Credit card fraud is a serious problem. If your credit card is compromised and you’re wondering what to do, here are a few precautionary steps to take.

Contact you credit provider – Get in touch will your credit card provider. If you feel your card has been compromised, you should be able to lock or block it.

Monitor your accounts – Keep an eye on your credit card accounts. Any unauthorised transactions could be a sign your credit card has been compromised.

Check your credit rating – It’s also important to check your credit rating, to ensure you’re not a victim of identity theft or some other financial mischief.

How easy is it to get a credit card?

For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.

Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.

Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.

Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.

How to get a credit card for the first time

A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.

If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.

Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.

When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.

What should you do when you lose your credit card?

Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.

Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.

Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.

Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.

Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.

Should I get a credit card?

Once you've compared credit card interest rates and deals and found the right card for you, the actual process of getting a credit card is quite straightforward. You can apply for a credit card online, over the phone or in person at a bank branch. 

How do you apply for a credit card?

You can apply for a credit card online, over the phone or in person at the bank. Once you’ve compared the current credit card offers, the application process is quick and easy. Before you get your application started, you’ll need to gather your personal information like proof of ID, payslips and bank statements, proof of employment and details of your income, assets and liabilities. To be eligible for a credit card, you’ll need to be an Australian citizen over 18 and earn a minimum of $15,000 each year. Once you’ve applied for a credit card, you should get a response fairly instantly. If your credit card application has been approved, you should receive a welcome pack with your new credit card within 10-15 days.

How do you use credit cards?

A credit card can be an easy way to make purchases online, in person or over the phone. When used properly, a credit card can even help you manage your cash flow. But before applying for a credit card, it’s good to know how they work. A credit card is essentially a personal line of credit which lets you buy things and pay for them later. As a card holder, you’ll be given a credit limit and (potentially) charged interest on the money the bank lends you. At the end of each billing period, the bank will send you a statement which shows your outstanding balance and the minimum amount you need to pay back. If you don’t pay back the full balance amount, the bank will begin charging you interest.

Can a pensioner get a credit card?

It is possible to get a credit card as a pensioner. There are some factors to keep in mind, including:

  • Annual income. Look for credit cards with minimum annual income requirements you can meet. 
  • Annual fees. If high fees are a concern for you, opt for a card with a low or $0 annual fee. 
  • Interest rate. Make sure you won’t have any nasty surprises on your credit card bill. Compare cards with a low interest rates to minimise risk.

How do you use a credit card?

Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.

How to make a credit card online

If you’re wondering about how to make a credit card online application, here are some steps to follow:

  • Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
  • Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
  • Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
  • Review details. Ensure the information you’ve entered is correct.

How do I apply for a credit card online?

How to pay a credit card

There are a few ways to pay a credit card bill. These include:

  • BPAY - allows you to safely make credit card payments online.
  • Direct debits - set up an automatic payment from your bank account to pay your credit card bill each month. You can choose how much you want to pay of your credit card bill when you set up the auto payments.
  • In a branch.
  • Via your credit card provider's app.

Do you need a credit card to get a loan?

You do not need a credit card to get a loan, but you usually need to have a credit history. Without a credit history, a financial institution cannot assess your ‘credit worthiness’, or your capacity to pay off the loan.

If you don’t have a credit card, your credit history can reflect any record of paying off an asset. Without any credit credit history, you’re limited in the type of loans you can apply for. But you may be able to obtain a secured loan against an asset. For more information on improving your credit score, go here

What is a balance transfer credit card?

A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card. 

How do credit cards work?

Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.

How many numbers are on a credit card?

The numbers on your credit card actually follow a universal standard which is used to identify specific functions. Each credit card has a different amount of numbers. Visa and Mastercard have 16, American Express has 15 and Diner’s Club has 14. 

The first number on a credit card always identifies what type of credit card it is. Visa cards start with a 4, whereas Mastercard starts with a 5 and American Express with a 3. The remainder of the digits represent the account number, including the last number which is used to verify that your credit card is actually valid. 

Credit cards also have additional verification numbers, which are mainly used when the card isn’t present for phone and online purchases. These are the three-digit numbers on the back of Visa and MasterCard or the four-digit numbers on the front of an American Express card.

Which credit card has the highest annual percentage rate?

The credit card market changes all the time, so the credit card with the highest annual percentage rate is also liable to change.

Keep in mind that credit card interest rates are expressed as a yearly rate, or annual percentage rate (APR). A low APR is generally good but also consider:

  • There can be different APR's for each feature of the card (e.g. purchases may have an APR of 14 per cent, while cash advances on same card could have an APR of 17 per cent.
  • Credit cards with a variable rate can change throughout the year, affecting your APR, so check the full details.
  • If you pay your balance in full every month, having the lowest APR is not as important as the other fees associated with the card. However, if you carry a balance from month to month, then you want the lowest APR possible.

How do you cancel a credit card?

It’s important to cancel your old cards to avoid any additional fees. Unless you’re doing a balance transfer, you’ll need to pay the outstanding balance before you cancel your credit card. If you’ve opted for a card with reward points, make sure you redeem or transfer the points before you close your account. To avoid any bounced payments and save yourself an admin headache, redirect all your direct debits to a new card or account. Once you’ve done all the preparation, call your bank or credit card provider to get the cancellation underway. Once you receive a confirmation letter, destroy your card and make sure the numbers aren’t legible.

Where can I get a credit card?

Looking to get your first credit card? You might be confused as to exactly where to go to apply for one. Here’s where to go when you are ready to put in that application.

The bank: Your bank is a great place to start, provided that you have a good banking history. Since you already have a financial history, you have more chance of your application being approved.

Credit card provider: Another option is to apply for a credit card directly from the issuer, such as Visa, Mastercard or Amex. This will most likely be an online application, so do your research and apply for a suitable card for your circumstances.

Major retailers: Coles, Woolworths, Myer and David Jones all have credit cards available. But watch out for the interest rate and annual fees – these cards are designed to help you spend more in store.

What happens if I have a bad credit score?

If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.