6 of Australia’s Top Credit Card Providers

May 31st, 2010

The credit card business is highly competitive. All the major providers are fighting hard for your business. Who are the best of the credit card providers and where do they come from?

As far as consumer choice goes, there are a huge range of credit card providers to choose from in Australia. We have looked at the top 6 to see who it is that is so desperately trying to win our financial hearts.

ANZ

ANZ is one of the best 50 banks in the whole world, and one of the largest credit card providers in Australia. It opened it’s first ever office in Sydney way back in 1835, and then a second in Melbourne in 1838, and in fact ANZ still has it’s main office there today.

They are known for their massive range of different credit cards, and have one of the most popular reward programs available too. As well as this they also have a range of low interest rate, and low annual fee credit cards.

Westpac

Westpac was in fact the very first bank in Australia. It opened back in 1817 and was originally known as The Bank of New South Wales. It only changed it’s trading name to Westpac in 1982 after the company acquired the Commercial Bank of Australia.

Westpac currently offers a large range of about 12 different types of credit card, ranging from balance transfer cards, through to rewards cards.

Commonwealth Bank

Commonwealth has become a huge financial power with over 37,000 employees and an estimated 700,00 shareholders on the books.

It opened in the early 1900’s, and boasts the biggest market share of the credit card business with around a 19.7% share. It has an extensive range of cards available, with some very cheap low rate cards, as well as some exciting reward credit cards.

Citibank

Citibank are a component of the Citi group, and as well their own range of balance transfer, cash back and reward credit cards, they also have a range of cards that are all affiliates of the “Citi Rewards” program.

St.George

Opened in 1937 and originally started life as a housing based firm, it won it’s full banking status in mid 1992. It is a proud part of the Westpac group, and provides some very good value cards, that are cheap and simple to run.

Aussie

The last of our top 6 credit card providers, this bank first opened it’s doors in 1992 so is very much a “new kid on the block”. Far from the baby of the bunch however, Aussie has quickly become Australia’s premier non-bank retail finance company. This company is a specialist of the low rate promotional credit card deals.