Most people have all their credit cards, debit and savings accounts with one banking institution. It used to be a lot harder to transfer across to different banks before the World Wide Web made it much easier. Be smart when signing up for a credit card, don’t just assume you are getting a good deal because you are keeping all your cards with one bank, a lot of banks can tailor credit cards to suit their needs.
What features are important when choosing a credit card?
- The interest rate
- Annual fees
- Balance transfer rates
- Late fees
All of these features can change the credit card dramatically, so consider these points when selecting a credit card, rather than remaining loyal to your bank, as they may not be able to provide you with the best credit card deal.
The upside of having all your eggs in one basket is the debit credit card. You can apply for a debit card if you have a savings account with the same bank. You can use your debit card just like a credit card but instead of incurring interest rate charges and fees, the money will come straight out of your savings account.
Regardless of your choice, the good news is, you have choices. To compare over 200 Australian credit cards use RateCity’s credit card comparison tool.