Credit Card Ratings
There is an abundance of credit cards on the Australian market so RateCity has teamed up with CANSTAR to allocate a credit card rating system, so you can instantly search and compare credit cards that have been star-rated for their great interest rates and features.
The credit card ratings have been designed to help you choose the right credit card by understanding what would suit your personal spending habits.
There are four spender profiles:
- Occasional Spender : spends $5,000 per year and revolves $1,000 for one month
- Everyday Spender : spends $24,000 per year and revolves $3000 for one month
- Habitual Spender : spends $12,000 per year while revolving $5,000 for one month
- Big Spender : spends $60,000 per year and revolves $9,000 for one month
Every six months CANSTAR CANNEX analyse both current and historical data for over 270 Credit Card products from over 70 financial institutions in Australia. In addition, over 100 parts of a product are analysed including product parameters, flexibility, rewards programs, premium card facilities, repayment capabilities and conditions attached to interest charging.
The results are reflected in a consumer-friendly 5-star concept, with 5 for an outstanding Product and 1 being a satisfactory Product.
Only the top 75 percent of the credit cards examined actually receive a star rating between 1 and 5. Rising Stars are those products that would be rated 3-star or higher but have not been in the market for over 6 months.
To see if your favourite financial institutions have made the CANSTAR credit card ratings list, check out some of the top credit card deals below.
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