How CardIQ works

CardIQ is a rating out of 100 that measures how good a card is for a specific purpose. Scoring is entirely algorithmic, with no human input or override. Here's exactly how it's calculated.

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CardIQ measures how good a card is for a specific purpose: earning frequent flyer points, doing a balance transfer, keeping costs low, and so on. Cards are scored within their category, not against all cards on the market.

Scoring is entirely algorithmic. Each category has a fixed set of weighted dimensions drawn from publicly available product data. Each dimension is scored on a 0–1 scale using benchmarks derived from our dataset, multiplied by its weight, and the results are summed and scaled to 0–100. There is no human editorial input or override in the ranking: every card is treated identically by the same formula.

Scores use these standard assumptions unless otherwise stated: $20,000 annual spend, $5,000 balance transfer balance, $5,000 carried balance, and a comparison rate of 20% p.a. (the assumed rate on the card being transferred away from).

Scores are recalculated whenever product data is updated. They are a guide only and not financial advice.

How each category is scored

Balance transfer scoring

Scored on five dimensions:

BT period (35%): length of the promotional period, normalised against the dataset maximum of 36 months.
Promotional rate (25%): 0% scores highest; normalised against the dataset's maximum revert rate.
Transfer fee (15%): percentage fee on the transferred amount, normalised against 5%.
Revert rate (15%): the rate after the promo ends, normalised against the dataset maximum.
Annual fee (10%): long-run annual fee.

Estimated saving is calculated on a $5,000 balance transferred from a card charging 20% p.a.

Frequent flyer scoring

Scored on four dimensions:

Earn rate (35%): points per $1 on everyday spend, scaled against 2 pts/$1 as the practical ceiling.
Est. annual rewards value (25%): earn rate × annual spend × point value, capped at $800.
Sign-up bonus value (20%): estimated dollar value of the bonus, capped at $1,000.
Annual fee (20%): long-run fee (year 2+ if applicable), normalised against the dataset maximum of $1,750.

Low interest scoring

Scored on two dimensions:

Purchase rate + fee composite (80%): 70% purchase rate (lower is better) and 30% annual fee, both normalised against dataset benchmarks.
Annual fee (20%): long-run annual fee.

Monthly interest estimate is calculated on a $5,000 carried balance.

No annual fee scoring

Scored on four dimensions:

Annual fee (35%): normalised against dataset maximum. A $0 fee scores 1.0.
Purchase rate (30%): lower is better; many no-fee cards still carry meaningful rates.
Foreign transaction fee (20%): 0% scores 1.0; important for travellers.
Interest-free days (15%): normalised against the dataset maximum of 110 days.

Rewards scoring

Scored on four dimensions:

Earn rate (30%): points per $1 on everyday spend.
Est. annual rewards value (30%): dollar value of points at $20,000 spend.
Annual fee (25%): long-run fee normalised against dataset maximum.
Sign-up bonus value (15%): estimated dollar value of the bonus.

No foreign transaction fee scoring

Scored on four dimensions:

Foreign transaction fee (40%): a 0% fee scores 1.0. The fee on overseas and foreign-currency spend is the point of this category.
Annual fee (25%): long-run annual fee, normalised against the dataset maximum.
Purchase rate (20%): lower is better for anyone who carries a balance.
Interest-free days (15%): normalised against the dataset maximum.

Interest-free days scoring

Scored on four dimensions:

Interest-free days (40%): more days before interest applies scores higher, normalised against the dataset maximum.
Purchase rate (25%): the rate that applies once a balance is carried; lower is better.
Annual fee (20%): long-run annual fee.
Foreign transaction fee (15%): 0% scores 1.0.

Zero purchase rate scoring

Scored on four dimensions:

Purchase rate (40%): a 0% rate scores 1.0. Differentiates cards where some zero-rate offers are ongoing and others are promotional.
Annual fee (25%): long-run fee.
Foreign transaction fee (15%): relevant for cardholders who also travel.
Interest-free days (20%): relevant once a promotional 0% period ends.

Cashback scoring

Scored on three dimensions:

Cashback value (55%): estimated gross first-year cashback, including any sign-up offer, capped at $450.
Annual fee (25%): long-run fee, normalised against the dataset maximum.
Interest-free days (20%): normalised against the dataset maximum.

Qantas Points scoring

Cards that earn these points directly, scored on four dimensions:

Earn rate (35%): points per $1 on everyday spend.
Est. annual rewards value (25%): earn rate × annual spend × point value.
Sign-up bonus value (20%): estimated dollar value of the bonus.
Annual fee (20%): long-run fee, normalised against the dataset maximum.

Velocity Points scoring

Cards that earn these points directly, scored on four dimensions:

Earn rate (35%): points per $1 on everyday spend.
Est. annual rewards value (25%): earn rate × annual spend × point value.
Sign-up bonus value (20%): estimated dollar value of the bonus.
Annual fee (20%): long-run fee, normalised against the dataset maximum.

Business scoring

Business cards are a buyer segment rather than one card type, so they are scored on the rewards story most business owners are after: points on business spend. A business card that earns no points scores low here. There is no sign-up-bonus dimension, because no business card in the dataset carries one.

Earn rate (40%): points per $1 on everyday spend.
Est. annual rewards value (30%): earn rate × annual spend × point value.
Annual fee (30%): long-run fee, normalised against the dataset maximum.

Sign-up bonus scoring

Scored on four dimensions:

Sign-up bonus value (40%): estimated dollar value of the bonus, capped at $1,000.
Earn rate (25%): points per $1 on everyday spend, so a rich bonus on a poor ongoing card doesn't dominate.
Est. annual rewards value (20%): earn rate × annual spend × point value.
Annual fee (15%): long-run fee, normalised against the dataset maximum.

Travel scoring

Travel cards are matched by a no foreign transaction fee, complimentary travel insurance, or airport lounge access, so the matched set spans rewards cards and plain no-fee cards. Scored on five dimensions, weighted towards travel-cost-avoidance rather than pure points:

Foreign transaction fee (30%): 0% scores 1.0. The dimension every matched card actually has.
Annual fee (25%): long-run fee, normalised against the dataset maximum.
Earn rate (20%): points per $1 on everyday spend.
Est. annual rewards value (15%): earn rate × annual spend × point value.
Interest-free days (10%): normalised against the dataset maximum.

Airport lounge scoring

Lounge-carrying cards tend to charge a real annual fee, so the fee is weighted higher here than on the general frequent-flyer pages. Scored on five dimensions:

Annual fee (30%): long-run fee, normalised against the dataset maximum.
Earn rate (25%): points per $1 on everyday spend.
Est. annual rewards value (20%): earn rate × annual spend × point value.
Foreign transaction fee (15%): 0% scores 1.0.
Sign-up bonus value (10%): estimated dollar value of the bonus, capped at $1,000.

First-timer scoring

Entry-level cards for people building credit. Most carry no meaningful rewards program, so scoring emphasises low fees, a manageable purchase rate, and approval-friendliness rather than points. Scored on four dimensions:

Annual fee (35%): normalised against the dataset maximum. A $0 fee scores 1.0.
Purchase rate (30%): lower is better.
Accessibility (20%): a lower minimum income requirement scores higher; cards with no minimum score 1.0.
Interest-free days (15%): normalised against the dataset maximum.

CardIQ scores are calculated from publicly available product information using standard assumptions. They are a guide only and not financial advice. Always read the product disclosure statement before applying. See cards ranked by category for the highest-scoring cards in each category.