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Aussie Credit Guide

Credit card guides

How credit cards work in Australia, explained without jargon. Each guide is general information, checked against Moneysmart, ASIC and Reserve Bank sources and dated.

20 guides · Reviewed 5 October 2026

How credit cards work

How credit card interest works

How Australian credit cards calculate interest: daily balances, purchase and cash advance rates, and why carrying a balance costs you your interest-free days.

Interest-free days explained

What 'up to 55 interest-free days' means on an Australian credit card, how the statement cycle works and how the interest-free period is lost.

Minimum repayments

How minimum repayments on Australian credit cards are calculated and how long a balance takes to clear when you pay only the minimum, with a worked example.

Credit card fees explained

The fees an Australian credit card can charge, from annual and late payment fees to cash advance and foreign transaction fees, and where to find them.

Cash advances

What counts as a cash advance on an Australian credit card, the fee and interest that apply from day one, and the transactions people don't expect.

Foreign transaction fees

When Australian credit cards charge a foreign transaction fee, why it can apply to purchases in Australian dollars, and how checkout conversion works.

How credit limits work

How Australian providers set a credit card limit, how to lower it, and why an unused limit can reduce what you can borrow for a home.

Credit card glossary

Plain-English definitions of Australian credit card terms, from balance transfer and cash advance to interest-free days, revert rate and Target Market Determination.

Managing and paying off debt

Paying off credit card debt

Practical ways to clear credit card debt in Australia: choosing which card to pay first, raising repayments, balance transfers, loans and where to get free help.

How balance transfers work

How a 0% balance transfer works in Australia, what the transfer fee and revert rate cost, and a worked example of the repayments needed to clear the debt.

Credit card or personal loan

How a credit card compares with a personal loan for a large purchase or for consolidating debt in Australia, with a worked example of the interest on each.

Financial hardship and credit cards

If you can't meet your credit card repayments in Australia, you can ask for a hardship arrangement. How to ask and where to get free help.

Credit reports and scores

Credit scores in Australia

Australian credit score ranges for Equifax, Experian and illion, what goes into a score and how long information stays on your file.

Getting a free credit report

You can get a free copy of your Australian credit report every three months. Who holds your file, what the report shows and how to fix a mistake.

Choosing how to pay

Credit card or debit card

How credit cards and debit cards differ in Australia: whose money you spend, interest, fees, fraud protection and the effect on your credit report.

Credit card or buy now pay later

How buy now pay later compares with a credit card in Australia: costs, late fees, credit checks and the regulation that has applied to BNPL since June 2025.

Are rewards cards worth it

How to work out whether a rewards credit card pays for itself in Australia: valuing points, annual fees, earn rates, caps and the cost of carrying a balance.

The card surcharge ban

From 1 October 2026 surcharges are being removed on eftpos, Mastercard and Visa cards in Australia. What the Reserve Bank decided and what it means.

Looking after your account

Disputing a transaction

What to do about a card charge you don't recognise or goods that never arrived: unauthorised transactions, chargebacks, time limits and AFCA.

How to cancel a credit card

The steps to close an Australian credit card: moving direct debits, redeeming points, paying the balance, cancelling online and what happens to your credit report.

Cards for particular situations