FEATURES SUMMARY

• Annual fee: $0
• Purchase rate: 19.24% p.a.
• Cash Advance rate: 20.74% p.a.
• Balance Transfer rate: 5.99% p.a. first 5 months (20.74% p.a.)
• Interest-free days: Up to 55

• Extras:
  • Apply online
  • Phone/Internet banking
  • Secure Internet Shopping
  • MasterCard Applause service
  • Enhanced security chip protection

The Commonwealth Student card is a credit card with application and approval criteria created especially for students, along with a number of other features which make it the Editors Choice for the #1 student credit card on The Credit Card Guide.

The interest rate for purchases on this bank credit card is 19.24% p.a.*, and 20.74% p.a.* for cash advances. While the interest rate on this student credit card is not exactly low, there is no annual fee for the duration of your studies.

Not to mention up to 55 days interest free on purchases*, so it could be a very affordable card if you need it for those little cash emergencies that pop up every now and then and are pretty well organised with your repayments.

If you already have a credit card and/or store cards you can make things a little bit easier for yourself by transferring your balance to the Commonwealth Student credit card and pay just 5.99% p.a. in interest for the first five months*.

After that time it will increase to the cash advance rate of 19.99% p.a.. While the introductory rate is good, it doesn’t last so if a good balance transfer rate is high on your list of priorities it would be best to look elsewhere.

Commonwealth’s Student credit card is a MasterCard so it also gives you access to MasterCard’s Applause service which gets you all sorts of discounts and benefits at entertainment events.

When your time as a student is over your card will change to a Commonwealth Low Annual Fee credit card with an annual fee of just $24. If you think that a credit card from Commonwealth is not quite what you need, Commonwealth also offers a MasterCard debit card as an alternative.

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FEATURES SUMMARY

• Monthly Fee: $6
• Free account access:
  • Eftpos
  • Phone/Internet banking
  • ANZ ATM’s

• Extras:
  • Apply online
  • Visa Entertainment
  • Phone/Internet Banking
  • 3 additional card holders free
  • Discounted fees for students

The ANZ Access Advantage with Visa Debit is The Credit Card Guide’s top pick for debit cards available to Australians.

Unlike some banks, ANZ allows you to combine your Visa debit card with any other ANZ product. So whether you’ve got a seniors account, a savings account or an investment account you’ll still have access to the freedom of a credit a card, without the debt.

The small monthly fee covers your transactions via ANZ branches (teller-assisted), ANZ ATM’s and who could forget, internet and phone banking.

However, if you are a full time student you’ll get a discount on the monthly fee*.

Just keep in mind that the ANZ debit card is literally an everyday transaction card where you are using your own money. And as Visa credit purchases can sometimes take a few days to be updated on your account, it’d be wise to try and keep track of your balance as you go – that way you won’t be stung with any unnecessary fees that are common with debit cards.

See all our top credit card picks in the Editor’s Choice category

Citibank’s debit cards are pretty well hidden on the bank’s website so is a little harder to find than most. But when you do find it you’ll see that you can apply for a Citibank Visa debit card through a Citibank Plus Transaction account.

The fee for this account and debit card is $5 per month.

This is yet another fence sitter in Australia’s debit card range – not quite expensive, but it’s definitely not free either! But there is some good news… If you arrange to have your regular salary of $3000 or more (per month) credited directly to your Citibank Plus Transaction account, that $5 fee will be waived, and you’ll be $5 richer!

With free internet and phone banking, as well as a monthly statement, you’ll have no problem keeping track of your purchases made online, over the phone, and in retail outlets anywhere in the world.

So not only is it convenient but it’s cheap too, with no ATM fees at Citibank, Westpac, St.George and BankSA ATMs around Australia. Although it is important to note that this excludes St George ATM’s at BP station outlets.

With this bank debit card you’ll also be able to link up to three other high interest savings accounts free of charge. So when you want to use money from these savings accounts to make a purchase online or over the phone, simply transfer the funds from your high interest savings account to your Transaction account you’ll be away laughing.

See our top credit card picks in the Editor’s Choice category