FIND THE RIGHT
CREDIT CARD FOR YOU
How to choose the best Credit Card for my lifestyle
Pick a card, any card, in any colour… These days there are so many different types of Credit and Charge Cards out there to choose from. All these Cards are designed for different purposes and different kinds of people. Some come with amazing rewards points and programs, others help track your spending habits, some give you frequent flyer points and travel insurance; Some also have lower interest rates and longer interest-free periods.
But let’s forget for a moment what all these different Cards offer and turn the spotlight back to you. We’re going to look at you, your lifestyle, and your spending habits to help you in choosing the right Credit Card or Charge Card for you.
Get started with everyday Cards
If it’s your first Card and you are trying to figure out, how do I choose the right one, you first need to decide whether to take a Credit or a charge Card.
A Credit Card has a set spending limit and at the end of each month, you can choose to pay off your balance in full or make payments over time. There is a minimum amount that needs to be paid and not paying your whole balance in full will incur interest charges. So you might want to look into a low interest rate card with a no or low annual fee and check out what interest-free period you get. Some Cards may also offer additional benefits like purchase and return protection on retail purchases.
These Credit Cards with low interest rates are suitable for those who simply want a Credit Card for convenience – they’re not interested in extensive Cards reward programs or other premium features.
In this category, American Express offers a couple of Cards that you might find useful. The Low Rate Credit Card from American Express offers you zero annual fees and a low interest rate.
Other Credit Cards like the American Express Essential® Rewards Credit Card comes with the additional benefit of letting you earn rewards points on every dollar spent on purchases.
On the other hand, a Charge Card has no pre-set spending limit1. This does not mean unlimited spending, your purchases are approved based on a variety of factors, including current spending patterns, your payment history, credit records, and financial information known to us. Just bear in mind that the balance on your Card will need to be paid in full every month.
One-stop shopping
Cards for shopping are designed to optimise user spending on everyday living expenses that can be used to earn rewards points and other benefits. When choosing the right Card, ask yourself if shopping will be its main use.
Take advantage of the interest-free period when shopping in supermarkets, department stores, and petrol stations. Keep track of spending while earning rewards to make future shopping more economical. Selected Cards also include purchase protection on goods bought when using the Card.
The American Express® Platinum Edge Credit Card is a card for shopping that goes above and beyond and enables you to accumulate points at a faster rate when shopping at supermarkets and petrol stations. It gives cardholders 3 points per $1 spent at major supermarkets and petrol stations, 2 points per $1 spent on purchases in a foreign currency when overseas and online and 1 point per $1 spent on all other purchases2. Points can be used for a host of shopping and travel rewards programs that best suit you.
Fast track your best laid travel plans
For most of us, a journey of a thousand miles often begins with a single swipe. Cards that allow you to accumulate points and that can be used to offset flights and hotel expenses are a great way to plan and pay for your next holiday. But how do I choose the right Card for my travels?
Sometimes these Cards are Airline Frequent Flyer Cards, other times, Credit Cards and Charge Cards allow their customers to redeem rewards points with partner airlines, hotel and hire car companies. Selected Cards also include additional benefits such as travel insurance, access to airport lounges, travel concierge services and more.
With their origins in travel services, American Express offers a range of different cards perfect for every kind of traveller on every kind of budget. From the American Express Velocity Escape Plus Card with no limit on how many Velocity Points you can earn, to the Qantas American Express Ultimate Card which offers a $450 Qantas Travel Credit to use on eligible domestic or international Qantas flights each year when booked through American Express Travel3. For seasoned travellers, the ultimate travel companion remains the American Express® Platinum Card.
A feast of features
Choosing the right Card is about knowing what you want to get out of it. For those who seek out everything on the menu that life has to offer, you are going to need a card that delivers more than a convenient way to shop, travel, and earn rewards.
Some Cards have a higher annual membership fee and deliver more premium benefits. In addition to accumulating reward points at faster rates, they give you access to airport lounges, exclusive perks and personalised concierge services.
The American Express® Platinum Card is one such card. You’ll discover an extensive list of perks, rewards and VIP experiences, such as dining credit at hand-picked restaurants4, access to specially curated events that are not open to the general public5. Plus, for those who love to get away it also includes a Concierge service that arranges incredible travel moments.
One size doesn’t fit all
When applying for credit, knowing how to choose the best Credit Card can be challenging. Don’t just apply for a Credit Card or Charge Card because it offers a gift card, special offer or throws in a free toaster.
Generally, it’s best to look at your lifestyle and the main purpose for getting a Card. There’s no point in having a card packed with an endless list of benefits and rewards that you never use. Read all the fine print when you compare Cards including the annual fees, annual interest rate, interest-free period, credit limit as well as the rewards and other benefits each card gives you. It’s also important to consider your current financial circumstance and what you can afford to repay. Remember each Credit Card or Charge Card you apply for will appear on credit reports. Spend responsibly and plan your repayments.
Look out for Card providers that offers you a different way to pay your balance like American Express Plan It®. This feature offers you a flexible way to pay down recent eligible purchases or a portion of your balance on your Credit Card in equal monthly instalments, with 0% p.a. interest. A fixed monthly fee applies6.
And you might like to consider a Card that lets you share the benefits and offers with family or friends. American Express allows you to add additional Cards7 to your account and is a great way to help you earn even more points. Just like any product you plan on buying, it also pays to shop around before committing to a financial product like a Credit Card or Charge Card.
MORE FINANCIAL WELLBEING ARTICLES
Build Emergency Fund
Save on Groceries
Simple ways to save on groceries, and spend more on what makes you happy
EXPLORE MORE POSSIBILITIES
CHECK OUT OUR TRAVEL CONTENT
From getting out of town for the day to getting away from it all for a well-earned break, see what great things you can do on your travels.
CHECK OUT OUR LIFESTYLE CONTENT
From the tastiest places to dine out to activities that keeping the kids active and happy over the holidays, discover what great things you can do day in, day out.
CHECK OUT OUR LIFE MOMENTS CONTENT
From helping you get prepared to bring a new puppy home to guiding you through buying your first home, find out what great things you can do for the moments that matter most.
- No pre-set spending limit does not mean unlimited spending. Your purchases are approved based on a variety of factors, including current spending patterns, your payment history, credit records, and financial resources known to us.
- Membership Rewards Program. Subject to the Terms and Conditions of the Membership Rewards program available here. The following merchants have been classified as major supermarkets: Bi-Lo, Coles, Fishers, Food For Less, Fresh Provisions, Harris Farm Markets, IGA, Macro Wholefoods, Safeway, Supabarn, Thomas Dux, Woolworths. The following merchants have been classified as major petrol stations: Ampol, BP, Caltex Woolworths, Gull, Metro, Peak, Safeway Petrol, Shell, United, Woolworths Petrol, 7 Eleven.
Exceptions may apply if an individual merchant trading as one of the above named retailers does not accept American Express as a form of payment.
Purchases at major supermarket & major petrol station retailers are only eligible for additional points if the transactions are made in Australia.
Certain transactions will earn 2 points per dollar spent, including the use of foreign currency overseas and overseas online payments. Additional points for major supermakets, petrol stations and foreign currency may not apply when you use a payment account, payment aggregator, services of a third party or online retailers that sell goods for another merchant. For example a payment made to a major supermarket processed through a payment aggregator may not earn the additional points. - Qantas American Express Ultimate Primary Card Members are eligible for an annual $450 Qantas Travel Credit, subject to the full Qantas Travel Credit Terms and Conditions at amex.com.au/qantasultimate-travelcreditterms. The Qantas Travel Credit can be redeemed through American Express Travel Online on a single eligible travel booking for Qantas Flights (i.e. a QF flight number on your ticket) by selecting the Qantas Travel Credit when you checkout. All Qantas Flight travel is subject to Qantas Conditions of Carriage. To redeem the Travel Credit, the full value of the Travel Credit (or more) must be charged to the eligible Primary Card. The Qantas Travel Credit can be used for 365 days from the benefit anniversary date and cannot be used past the expiration date. To check the expiration date of your Qantas Travel Credit if you have not already redeemed it, please visit americanexpress.com.au/travel; log in and click ‘Travel Credit’. If your booking is cancelled, and your Qantas Travel Credit has already been used and associated statement credit applied to your account, you will forfeit your annual Qantas Travel Credit benefit and American Express may reverse the statement credits issued. You need to be able to spend on the Card to access the Qantas Travel Credit benefit and it should be credited to your Card Account within 3 business days but may take up to 30 days. Your account must be in good standing and you must have paid the annual fee and minimum payment by the due date. If you cancel your Card, change your rewards program or Card type, you will no longer be eligible for the Qantas Travel Credit.
- Global Dining Credit. Maximum amount back is $200 on spend at participating local restaurants (Local Dining Credit) and AUD$200 on spend at participating abroad restaurants (Abroad Dining Credit) per redemption period: Each redemption period resets on 1 January until the offer end date of 31 December 2025. The redemption periods are:
• 05 July – 31 December 2022
• 1 January – 31 December 2023
• 1 January – 31 December 2024
• 1 January – 31 December 2025
Primary Card Member Only: The Benefit is only available to Primary American Express Australia Platinum Card Members using their Platinum Personal Charge Card. Transactions made with an Additional Card is not eligible for this Benefit.
Save this Benefit First: A one-time enrolment is required. You must first save the Benefit to your Platinum Card before making your payment to qualify for the Benefit. Benefit limited to the Card to which the offer is saved and only spend on this Card counts towards the Benefit. If you use another card to make a payment at any time, you will not be eligible for the Benefit on that card.
If you switch to a new Card product that is not eligible for this Benefit, enrolment will be removed from your Card Account. If a Card you hold is ineligible, you will not be able to see the Benefit, nor will you be able to save the Benefit to the Card. If you are no longer eligible for this Benefit due to a change in Account status, including but not limited to fraudulent flags, suspension or cancellation, it will be removed from your Account.
Eligible Transactions: Benefit only available for dine-in services made in-person at a participating restaurant, full list can be found here. Participating restaurant list subject to change without notice, please check before you dine as you won’t be eligible to receive a credit if the restaurant isn’t on the list at the time of your transaction.
Excluded Transactions: Benefit excludes purchases of gift cards and vouchers, transactions made towards deposits charged upfront by the venue, booking, cancellation, and no-show charges, takeaway or dine-at-home services. If you spend in a currency other than Australian Dollars a Currency Conversion Fee of 3% applies and this fee does not count towards the Benefit. For more information regarding charges made in foreign currencies refer to your Card Member Agreement.
Direct Payments Only: If you pay using payment processors such as QR payment or restaurant in-app purchases, you may not be eligible for the Benefit. Please request to pay at the restaurant’s designated checkout register.
Award of Credits: Credit(s) should appear on your billing statement within 30 days from the date of payment but may take longer. Credit(s) are not redeemable for cash or any other payment form. Credit may be reversed if your qualifying purchase is refunded or cancelled.
Expiry or Withdrawal of Benefit: The Benefit will expire on 31 December 2025. American Express can withdraw the Benefit at any time by giving you 60 days’ notice.
Your use of participating restaurants: Your purchase of goods and/or services from the participating brands is governed by their respective terms and conditions (including privacy policies). American Express is not responsible in any way for the goods and/or services of the participating brands. Inquiries or complaints related to the participating brands' goods and/or services should be directed to their customer service. - American Express Experiences. Invitations will be sent by email only. A valid email address and opt-in to Platinum Marketing communications is required. Event availability is strictly limited.
- Plan It® Terms & Conditions. You can create an Instalment Plan as long as your account is in good standing. We may withdraw this offer, prevent you from creating any new Instalment Plans or cancel any of your existing Instalment Plan(s) at any time if your Card Account is overdue, or if you do not comply with your Card Conditions. The minimum Plan amount is AUD$100. We may also limit the amount that can be transferred to an Instalment Plan.
- You will be charged a Monthly Plan Fee for each Instalment Plan created. This fee will be charged each month your Instalment Plan is active and will be disclosed to you at the time of creating your Instalment Plan.
- Each Instalment Plan will begin from the date it is successfully created, as communicated to you in your Online Account.
- Payment of your first Monthly Instalment will be due in your next payment cycle.
- You may request to cancel your Instalment Plan(s) at any time through your Online Account or the Amex App. Any billed Monthly Plan Fees will remain payable, but no further Monthly Plan Fees will be billed after cancellation is effective. As cancellation can take 24-48 hours to process (“Processing Time”), you may be charged a further monthly plan fee after requesting cancellation if the Processing Time occurs on your payment date.
- View the full Plan It™ Instalment Terms and Conditions here.
- Additional Card Members. Additional Card Members must be 16 years of age or over. The Primary Card Member will be liable to pay for all transactions made by Additional Card Members. Earning of points is subject to the terms and conditions of the Rewards Program the Primary Card Member is actively enrolled. Earning of Cashback is subject to the Terms and Conditions of the American Express Cashback Credit Card Rebate Program the Primary Card Member is actively enrolled. All points or Cashback earned on Additional Card Member spend will go to the Primary Card Members Account. The Primary Card Member cannot add an Additional Card under their own name or email address and cannot add an Additional card under the name or email address of a previously approved Additional Card application on the Account.
The following Cards may incur annual Card fees. Please refer to your financial table to see if your Card will incur an annual fee.
The American Express Gold Card: $65 per Additional Card per year may apply.
The American Express Green Card: $45 per Additional Card per year may apply.
The American Express Rewards Advantage: $65 per Additional Card per year may apply.
The American Express Gold Credit Card: $20 per Additional Card per year may apply.
The American Express Blue Credit Card: $20 per Additional Card per year may apply.