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Switching credit cards - a step-by-step guide

If your credit card is costing you too much and not performing the way you envisaged, why not ditch and switch to a more suitable plastic partner? First up though, identify exactly what you are not happy with. Is it the service from your credit card provider? Maybe it’s a simple case of the interest rate being too high, fees and charges proving costly, or not enough rewards for the money you spend. Whatever the reason, there are over 280 different credit cards available in Australia so there’s no need to stick with one that’s not right.

Things to consider when switching credit cards

1. Shop around and see what’s in the market. RateCity.com.au is perfect for this.
2. If you revolve a debt and pay interest, look for a card with low interest and low on going fees.
3. The right balance transfer offer makes debt consolidation easy. Some offer low or no interest rate on balance transfers within a specified time frame or a low interest rate for the life of the balance.
4. Remember to close the old credit card account after you have transferred to the new one!
5. If you pay off your balance each month, interest rates won’t concern you - but perks will.
6. Decide what rewards you are really interested in and look for a card that offers those rewards. If you travel, you may want no foreign currency conversion fees or travel insurance. If you are a shopaholic, you may want vouchers at your favourite shopping destinations. The variety of rewards offered is endless.

How do I compare credit cards and rewards programs?

RateCity.com.au is the best website to shop for all credit cards and rewards programs, as well as most other financial products. At RateCity.com.au, you can use expert comparative data from CANSTAR CANNEX, Australia’s leading financial research and ratings firm. CANSTAR CANNEX has analysed and evaluated hundreds of financial products to award five stars to only the very best. The CANSTAR CANNEX star ratings go much further than just looking at interest rates. They also take into account important features so you can be confident you are getting the best product.

Use our easy search tools to compare credit cards at RateCity.com.au.
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Or use these easy search tools to compare rewards programs at RateCity.com.au.
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