Aussie credit cards

Being able to make a choice from a vast selection of products is important to Australians. Credit cards are in hot demand around the world, with Australia being no exception, and thankfully we have a ton of credit cards to choose from.

When you are considering your first, or next, Australian credit card there is one important thing to factor in, your individual financial habits. Whether you constantly pay your credit card off each month or you let your debt roll over, these habits will help you determine what credit card is right for you.

Tailor the card to your needs

A good starting point when choosing the best credit card for you is to first identify your spending habits. Consider if you are able, or intend to pay off the balance of your credit cards in full each month, or alternatively carry debt over from one monthly period to the next and thereby incur interest charges.

If you pay off the outstanding balance each month in full, the Australian credit cards best placed for you may be those with the longest interest-free periods (at least 55 days interest free, for instance).

Consider rewarding yourself

Rewards credit cards, which usually (though not always) have higher interest rates and annual fees, can make sense for you if you’re the sort of user who doesn’t pay interest on your credit cards (because you pay your card off in full each billing period) and if the cards’ annual fees are at the lower end of the scale. Again, you can easily compare credit cards to check fees, interest-free periods, interest rates and whether rewards programs apply, at RateCity.

Balance transfer

A balance transfer is something you can consider if you are having trouble paying off the balance from your present credit card, and are carrying high interest debt from one month to the next – which with many cards can be 20 percent or more.

The Australian credit cards best suited to you if you are in this indebted position may be those with the lowest balance transfer rate, held at that low rate for the longest time. Beware however, that once the introductory period is over, the rate may 'revert' to a much higher rate. 'Free days' also rarely apply until a transferred balance has been paid off in full.

If you've identified your spending habits and are ready to start your search for an Australian credit card - begin with RateCity's credit card comparison page.

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.