How to Apply for a Credit Card in 2026 (And Get Approved)

Q: What credit score do you need for a credit card?

Most credit card providers don’t disclose publicly what their credit score cut off is. But rest assured they will check your credit report as part of a credit card assessment. Red flags include credit defaults (a payment of $150+ overdue for more than 60 days), bankruptcy or insolvency (which immediately disqualifies applicants), and a pattern of repeated credit applications such as for buy now pay later and payday loans. It's a good idea to do a free credit score check before you apply.

Step 1. Decide what kind of card you want

Before you think about making an application for a credit card, you need to be sure of what kind of card will be suitable.

The only thing potentially worse than applying for a credit card and being declined, is applying for an unsuitable one and being approved.

The average Aussie spends about $3,100 per month on their credit card. That’s not going to earn you enough points to get you to the first-class lounge. So if you’re like the average person, a rewards credit card with a big annual fee is not going to be much use to you. Consider a low rate or no fee card instead.

On the flip side of that, if you spend a lot and want to maximise rewards, there’s not much point (or points!) in going with a basic card.

These are the main reason Australians have a credit card, according to Money.com.au data:

To cover the costs of everyday expenses (58%)

To earn rewards points (53%)

To allow them to keep more money in their offset account (33%)

To cover large or one-off purchases (28%)

Emergency backup (23%)

Expert tip...

Brad Kelly, Credit Card Expert

Ask yourself ‘am I going to pay the whole balance off every month or roll some into the next month?’ If you’re a “revolver”, go for a lower rate. If you are paying it off every month, go for a low fee.

Brad Kelly, Credit Card Expert

By law credit card issuers must make a very unsexy document called a ‘target market determination’ available with their cards. This is helpful to look at as it describes what the credit card is offering and the kind of customers the card is designed for.

Low rate cards

A low rate credit card is a basic option with a relatively low interest rate on purchases and minimal features and perks. It won’t cost you the earth but will do all the basics you expect from a credit card (i.e. pay for things). Watch out for the higher interest rates on cash advances.

0% interest cards

Interest-free credit cards are the most most basic cards, with a low credit limit and simple features. There’s usually a monthly fee for using the card.

Low fee cards

Often a basic card, but not always. Some more premium cards waive the fee if you meet a monthly or annual spend limit.

Rewards credit cards

These cards allow you to earn points based on how much you spend. You can then put those points towards purchases, or convert the points to cash in the case of cashback credit cards.

Frequent flyer cards

Frequent flyer credit cards offer rewards and other perks related to travel. These cards are usually linked to an airline’s frequent flyer program (Qantas or Virgin's Velocity Frequent Flyer program).

Some of these credit cards offer free travel insurance and other perks, like complimentary lounge passes.

Travel credit cards

Travel credit cards offer many of the same perks as frequent flyer cards but with more of a focus on saving the traveller money on card fees incurred while overseas, namely currency conversion fees. There are more than 20 credit cards with no international transactions available in Australia.

Balance transfer cards

Not a type of credit card as such, but a facility offered by some cards. Balance transfer credit cards offer a temporarily low (or no) interest rate on an existing credit card balance you transfer from another card.

Business credit cards

Business credit cards are available to companies for covering businesses expenses. There are also corporate credit cards designed for companies with a large turnover who require lots of cards for employees.

Charge cards

Charge cards are very similar to credit cards, but there is no set credit limit and the cardholder must pay off the full balance each month. There are no interest charges on charge cards.

Virtual credit cards

Some lenders offer virtual credit cards which are digital versions of physical cards. Accessible on smartphones, these cards generate unique card numbers, expiry dates and CVV codes for each purchase, reducing the risk of fraud and unauthorised use.

We surveyed over 1,000 Australians to find out which financial decisions they’ve made based on their parents’ advice. While just over half (51.8%) said they hadn’t followed any parental guidance, 8.9% said they relied on their parents’ input when choosing a credit card.

Once you’ve figured out what kind of credit card will suit you, you want to find the best version of that card.

Looking to keep interest costs low? Find the lowest rate card you can.

Looking to minimise fees? There are plenty of credit cards with no annual fee.

Looking to maximise rewards? Check how many points you’ll earn per $1 you spend, but watch out for points caps that will limit your rewards. You can also see what credit card deals are out there for bonus points on cashback.

Do you travel (or just spend) overseas a lot? A card that doesn’t pass on the foreign exchange fee to customers will save you money. Latitude, BankWest and CBA all have cards that waive this fee, which is usually around 3% (and sometimes more).

Look for the card’s 'key fact sheet' (another document card issuers must make available to you by law) as this is a good way of getting basic information on a card without the marketing spin.

Also think about who you want to issue your card. A bank, a supermarket, an airline? Think about what you spend the bulk of your money on, and based on that what kind of card will give you the most back.

Finally, do you want an American Express card, or is a Visa or Mastercard okay?

American Express has some good products – the trade off is Amex is not accepted as widely as Visa or Mastercard.

Step 3. Check the card’s eligibility criteria

Applying for a credit card, or any financial product, can be a pain. But it’s not just a case of jumping through hoops for the bank’s amusement.

Credit card providers are bound by the National Consumer Credit Protection Act of 2009 and they need to make sure that only suitable applicants are approved. Otherwise they’ll be penalised.

The good news is the eligibility criteria are pretty much the same no matter who you apply with.

You generally need to:

Be over 18 years of age

Be an Australian citizen, permanent resident or hold an eligible visa

Be employed (ideally full-time but some providers will consider part-time employment)

Meet the minimum income requirement and have a clean credit history

What are the income requirements for a credit card?

There usually aren’t hard and fast income requirements for a credit card. But there are some general points to consider.

Firstly, credit card companies prefer if your income is regular and that you’re employed. Self-employed people often have difficulty being approved. Likewise, if you’re a self-funded retiree, getting approved will be more difficult.
Next, is your income high enough that you can afford the repayments on the card? Some top-tier ('Black') credit cards have a minimum limit of $15,000, and to be approved you’ll need to be earning enough to service that level of debt.

What credit score do you need for a credit card?

Most cedit cards providers don’t disclose publicly what their credit score cut off is. But rest assured they will check your credit report as part of a credit card assessment. There are a few red flags they will be looking for:

Credit defaults (a payment of $150+ that’s overdue for more than 60 days)
Bankruptcy or insolvency (immediately disqualifies applicants)
A pattern of repeated credit applications (buy now pay later and payday loans in particular)

Before you apply for a credit card, do a free credit score check to see if you're in good shape.

New research from Money.com.au reveals that one in four Australians (28%) with a credit card signed up at least partly to improve their credit score.

However, half of cardholders who got a credit card for this reason (50%) don't actually know whether it improved their score. Just 21% of Aussies said their credit score improved after getting a credit card, a quarter (25%) reported no change, while 4% said their credit score worsened.

Most card issuers now offer an online application process, and while the steps are fairly similar, some credit cards are easier to qualify for. These often come with simpler eligibility requirements, such as a lower minimum credit limit.

Have your ID (Medicare card, driver licence, passport etc.) handy if you don’t have an existing relationship with the card issuer.

You’ll also need to provide information about your income, expenses and other debts.

Most credit card applications take just 10 to 15 minutes to complete, especially when applying online. But having your personal, financial and employment details ready can make the process even faster.

Step 5. Get provisional approval

You'll get a response from the lender in 60 seconds, and it will either be ‘Yes’, ‘No’ or, more often than not, ‘Yes, but we need more information’.

This will usually mean being asked to upload payslips for the last three months. You'll also need to provide the lender with recent bank statements.

At this stage, you’ll also need to confirm what your credit limit will be. The card issuer will tell you what your maximum potential limit is based on your application, and there will be a minimum allowed limit.

The lowest you will see is usually $500, but our database shows cards with a minimum limit as high as $20,000. The absolute maximum limit on any credit card in Australia is $100,000, but it will be much lower on basic low-rate cards.

Remember you don’t need to accept the maximum credit limit the card issuer offers you.

Choose a limit that matches your spending with a bit of a buffer (otherwise if you need to increase your limit down the track, this will require another credit assessment).

Picking the right credit limit is important. If you get a credit card with a high limit you don’t need, it might tempt you to overspend and it will impact your future borrowing capacity.

You see, when assessing loan applications (e.g. a personal loan) lenders don't look at your actual credit card balance, they assume you have maxed out your full credit limit even if you haven't.

Step 7. Get approved and set up your card

If your credit card is fully approved, a physical card will be sent to you in the post (unless it’s a digital-only card). You’ll then need to activate the card and add it to your mobile wallet so you can use it on your phone, watch or any other devices.

As a last step in the process, make sure you have a plan for paying off your card balance.

Some card issuers allow you to set up a direct debit from your bank account to pay the card in full. This is a great idea to save on potential late fees and interest.

All card issuers allow payments to be made to them via BPAY but beware some providers (e.g. Latitude) charge a fee for BPAY transactions.

To summarise, here’s how to get a credit card in Australia…

How to apply for a credit card (and get approved)

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