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Can you find Australia's cheapest credit cards?
With so many credit cards on the market, finding Australia’s cheapest credit cards can be a daunting task. The best way to tackle it is through research and comparison, and by asking yourself some relevant questions.
- Low Interest or Low Fees?
When you’re hunting for Australia’s cheapest credit cards, what should be of more concern – the interest rate you’ll be slugged with, or the fees you’ll have to fork out for? Well, it depends on how you use your credit card. If you only want a credit card for the convenience and you plan on paying it in full each month, the lowest annual fee – or better yet, no annual fee – is the best option for you. But if you will use your card often and perhaps not pay it in full each month, you should be looking for the lowest interest rate.
- Are rewards rewarding?
This is another good question to consider in your search for Australia’s cheapest credit cards. Cheap credit cards tend to be quite basic, but you can still find reasonably priced cards with rewards if that suits your needs. If you use your card a lot and shop often with particular shops or companies, credit card rewards can end up saving you money in the long run. However, keep in mind that these cards carry a higher interest rate, so you should pay off the balance in full each month or the cost will outweigh the benefits.
- How about a low introductory interest rate?
If you have a large credit card debt, a low introductory interest rate with a balance transfer credit card can ease the burden and help you pay it off faster – and save you money. You can take advantage of low introductory rates by transferring your credit card balance from your higher interest rate card. However, you must keep in mind that once the “honeymoon” period is over, the interest rate will revert to a higher rate. To take advantage of the low rate, you must pay off your credit card debt within the “honeymoon” period.
Don’t waste your time going into banks or stores, begin your credit card search online now. RateCity compare’s over 200 Australian credit cards using its handy comparison tool.
Disclaimer
This article is over two years old, last updated on February 27, 2012. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent credit cards articles.
Compare credit cards
0.00%
for up to 9 months, then 20.99%
0%
55
$0
Australian Credit Licence 286655
Fees & charges apply
- RateCity Exclusive
- Apple & Google Pay
- Balance transfer
- No annual fee
11.99%
Not Applicable
45
$0
Australian Credit Licence 229823
Fees & charges apply
- Apple & Google Pay
- No annual fee
13.74%
21.99%
55
$58
Australian Credit Licence 234527
Fees & charges apply
- Special
- Apple, Google & Samsung Pay
- Balance transfer
- Low annual fee
27.49%
Not Applicable
55
$0
Australian Credit Licence 392145
Fees & charges apply
- Special
- Apple, Google & Samsung Pay
- No annual fee
Product database updated 27 Apr, 2024
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