The Best Credit Cards in Australia (2026): Points, Cashback & No-Fee

Most Australians are on the wrong credit card. They’re either paying an annual fee for rewards they never redeem, or they’re on a no-fee card that offers nothing. The sweet spot is narrower than the banks would have you believe. Here’s what’s actually worth getting right now.

Best for Points: American Express Platinum Edge

The Amex Platinum Edge earns Membership Rewards points on every dollar spent — 3 points per dollar at supermarkets, 2 points at petrol stations, 1 point everywhere else. The $195 annual fee is offset by a $200 travel credit and a complimentary domestic flight each year.

The catch: Amex isn’t accepted everywhere. You need a backup Visa or Mastercard for smaller merchants, markets, and some restaurants. Use Amex wherever you can; keep a no-fee card for everywhere else.

Sign-up bonus: 100,000 Membership Rewards points on approval (worth roughly $500 in flights, depending on redemption). Conditions apply — minimum spend required in the first few months.

Best for Cashback: Citi Rewards Card

The Citi Rewards card earns cashback directly credited to your statement. No points program to navigate, no transfer partners, no blackout dates — just money back. The earn rate is competitive for everyday spending and the $199 annual fee is reasonable if you spend more than $15,000 per year on the card.

For lower spenders, the CommBank Low Fee Gold is a better fit: no rewards, but a $0 annual fee in the first year and a low purchase rate. It’s honest about what it is.

Best No-Fee Card: ING Orange One

ING’s Orange One has no annual fee, no foreign transaction fees, and earns 1% cashback on tap-and-go purchases (up to $30/month). You need an ING Savings Maximiser to qualify for the cashback, but if you’re already banking with ING, it’s the best no-fee card in Australia by a distance.

The purchase rate is competitive and the app is genuinely good — spending categorisation, real-time notifications, instant card freeze. It does what a basic card should do without trying to upsell you.

Best for Travel: Bankwest Breeze Mastercard

No annual fee, no foreign transaction fees, and complimentary travel insurance when you book flights on the card. It doesn’t earn points — that’s the trade-off. But for someone who travels internationally several times a year and doesn’t want to manage a points program, the Breeze removes friction.

The Westpac Altitude Black is the alternative if you want points: it earns Altitude Points transferable to Velocity or Qantas, with lounge access perks and good travel insurance. Annual fee is higher ($250) but the sign-up bonus can be 150,000+ points.

What to Actually Look For

Points value: Most credit card points are worth 0.5–1 cent each when redeemed for flights. Do the maths before chasing a sign-up bonus — 100,000 points sounds impressive until you realise it’s $500 in value and you paid $400 in fees.

Interest rate: If you ever carry a balance, rewards cards are a trap. The purchase rate on rewards cards is typically 20%+. Either pay in full every month or use a low-rate card.

Foreign transaction fees: Standard cards charge 2–3% on overseas purchases. If you travel once a year, that adds up. Get a card with no foreign transaction fees.