RateCity
No Annual Fee Credit Card
Many Australians are turning to no annual fee credit cards as competition in the plastic market heats up.
Despite this, in early 2011 figures showed that as a nation we spent more than $1.3 billion in credit card fees per year, despite plethora of no annual fee credit cards available on the market.
While many of us rely on our credit cards we should not forget that cards actually cost money to own and use. Many credit cards have annual fees around the $100 mark, but some have annual fees as high as $700 per year.
So clearly it pays to consider switching to a no annual fee credit card for huge dollar savings.
Fee-free doesn't equal high interest
There is a misconception out there that if you pay an annual fee on your credit card you will be getting a better interest rate than a card with no annual fee.
But this is not always the case
Some of the top no annual fee credit cards available through RateCity have below-average interest rates compared to the broader market. Many of these low interest fee-free cards even outperform some fee-based cards in this regard.
The best advice on credit cards is that you should always pay off your balance in full every month. If that's not achievable then you need to look not only at the annual fee but also at the underlying interest rate as well.
Beware hidden costs
As with most things in life, if it seems too good to be true, then it probably is! So it's important to always understand the conditions attached to your no annual fee credit card. While many no annual fee credit cards are as cheap as they appear on the surface, some have hidden costs that can sting.
For instance, some low interest, no annual fee credit cards offer zero interest free days, which means you'll be paying interest from the moment you make the purchase, which can really add up.
But don't let this scare you off! Because a low interest, no annual fee credit card can save you hundreds of dollars over time if you choose carefully.
So visit the RateCity credit cards page now and compare credit cards to find the option for you!
The table below displays low rate credit cards availaible at RateCity.
Despite this, in early 2011 figures showed that as a nation we spent more than $1.3 billion in credit card fees per year, despite plethora of no annual fee credit cards available on the market.
While many of us rely on our credit cards we should not forget that cards actually cost money to own and use. Many credit cards have annual fees around the $100 mark, but some have annual fees as high as $700 per year.
So clearly it pays to consider switching to a no annual fee credit card for huge dollar savings.
Fee-free doesn't equal high interest
There is a misconception out there that if you pay an annual fee on your credit card you will be getting a better interest rate than a card with no annual fee.
But this is not always the case
Some of the top no annual fee credit cards available through RateCity have below-average interest rates compared to the broader market. Many of these low interest fee-free cards even outperform some fee-based cards in this regard.
The best advice on credit cards is that you should always pay off your balance in full every month. If that's not achievable then you need to look not only at the annual fee but also at the underlying interest rate as well.
Beware hidden costs
As with most things in life, if it seems too good to be true, then it probably is! So it's important to always understand the conditions attached to your no annual fee credit card. While many no annual fee credit cards are as cheap as they appear on the surface, some have hidden costs that can sting.
For instance, some low interest, no annual fee credit cards offer zero interest free days, which means you'll be paying interest from the moment you make the purchase, which can really add up.
But don't let this scare you off! Because a low interest, no annual fee credit card can save you hundreds of dollars over time if you choose carefully.
So visit the RateCity credit cards page now and compare credit cards to find the option for you!
The table below displays low rate credit cards availaible at RateCity.
