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Compare credit card interest rates and deals

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All credit cards

Product Name Card
Purchase Rate
Annual Fee
Max Free Days
Late Payment Fee
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American Express Essential Credit Card
Essential Credit Card
Purchase Rate
14.99%
Annual Fee
$0
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American Express Velocity Escape Card
Velocity Escape Card
Purchase Rate
20.74%
Annual Fee
$0
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American Express Qantas Discovery Card
Qantas Discovery Card
Purchase Rate
20.74%
Annual Fee
$0
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Virgin Money Low Rate Card
Low Rate Card
Purchase Rate
11.99%
Annual Fee
$49
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American Express Platinum Edge Credit Card
Platinum Edge Credit Card
Purchase Rate
20.74%
Annual Fee
$195
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Transfer your balance to a new 0% card and you could save an average of $1262 in interest and fees and pay your debt off 6 months earlier.

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FAQs

Credit cards are a personal responsibility, so the reasons behind getting a credit card should also be personal.

You should always consider all the pros and cons of taking out a credit card before you sign on the dotted line.

For example, pros include the fact that credit cards can be a good way of paying for purchases, earning rewards points and building a credit history.

But there are also cons – credit cards can be expensive and put a lot of financial pressure on you.

You need to consider your personal finances and your lifestyle choices. Do you need a credit card? What options are out there for me? Can I handle the repayments? Why am I getting a credit card in the first place?

The only way to find out which is the right credit card for you is to carry out a comprehensive comparison. For most people, the thought of wading through website after website is hardly appealing, which is why we offer a credit card comparison service.

We can take a closer look at around 200 different products, before presenting you with the various options that meet the criteria you provide. It is then up to you to decide whether you want to focus on a rewards credit card, a balance transfer deal, or another type of credit card entirely.

The different types of credit cards

There's no shortage of products to include in your credit card comparison. The one you choose will ultimately depend on what you want to use it for, and the perks you'll receive whenever you do.

There’s a wide range of card types available, with the most popular credit card types being:

  • Low rate credit cards
  • Low fee credit cards
  • Balance transfer cards
  • Rewards credit cards
  • Frequent flyer cards

Although there are some other variables you will have to take into account, but these are some of the main categories you might want to consider. If you regularly use your credit card overseas for example, then this will be something you should factor into your credit card comparison.

The great credit card tradeoff

Most of the time, there’s some major trade-offs you need to make when choosing a card. If you want low rates (a great idea if you don’t pay your card off), then it’s unlikely you’ll find card with rewards, and vice versa. You’ll also find that the card with rewards, frequent flyer points or perks generally come with higher rates and annual fees. Like many things in life, you can’t have it all in the one card, but by using our credit card comparison you can find some of the best deals if you choose your priorities wisely.

Carrying out an interest rate comparison

One feature of a credit card that can make a big difference to your final decision is the interest charged on balances. Simply put, when you spend money on a credit card, you're essentially borrowing money from the company. If you don't repay this amount on time, then you will be charged interest.

This shouldn't, however, be confused with the annual percentage rate (APR) that is charged by your provider. This is a key piece of information you should think about when performing an interest rate comparison.

Instead, the APR is the yearly interest rate that is applied to your credit card. It's not uncommon for providers to offer a different APR for any purchases you make, and a separate one for any balance transfers you carry out.

When you carry out a credit card comparison, make sure you take into consideration any introductory rates that are on offer. Some companies will give a low rate credit card when you first open the account, which then shifts after a certain period of time.

Understanding rewards credit cards

If you plan on using your credit card on a regular basis, then it might be worth your while to look into one that offers rewards. Many of the biggest providers will give cashback on certain purchases, or allow you to accumulate points that can be used in certain stores.

One of the most popular types of rewards credit cards are those that provide frequent flyer points. You'll be awarded points based on the amount you spend, which can then be built up and eventually spent on flights with major airlines.

If you are interested in rewards credit cards, then be sure to read the terms and conditions linked to these accounts. As with any financial product, it's a good idea to be fully aware of what you are signing up for well in advance.

Choosing your next credit card

No matter what you want from your credit card, it's essential to carry out an interest rate comparison and see which products are out there. If you do need more information on what's available, then be sure to read the RateCity Credit Cards Guide.

It provides an insight into what the different types of credit card are all about, as well as handy tips to help find the right one for your specific requirements.

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