Do other comparison sites offer the same service?

Trying to get your head around what exactly  a comparison site is and how they differ from each other? Look no further, as we break down how the platforms differ, and how RateCity separates itself from the pack. 

A comparison website is an online platform designed to help Australians easily compare products, such as credit products and insurance. Some of the major players in the financial space are RateCity, Canstar and Mozo. 

While all comparison sites should perform this function, not every site will offer the same service. So, how exactly do the comparison sites differ? Let’s explore how comparison sites function, and what makes RateCity stand out from the competition. 

How comparison sites do it differently

Comparing different products

The comparison sites do not just showcase the same products and services for comparison. While many may cross over, there are some sites that branch out into very different spaces. For example, Canstar may allow you to compare products like pet insurance and even microwaves, whereas RateCity focuses just on financial products.

By focusing on the key financial products that impact the daily lives of millions of Australins, we’ve been able to improve the results you are shown in your comparison. At RateCity, you may compare interest rates, fees, features across over 13,000 financial products from more than 300 brands, with products in the following categories:

• Home loans
• Personal loans
• Car loans
• Credit cards
• Savings accounts
• Term deposits
• Bank accounts
• Superannuation

Using different methodology

Comparison sites will typically allow you to compare products or services in different ways. This will depend on its internal methodology and analytics - as well as which lenders or providers have a commercial interest to be promoted. 

RateCity, for example, aims to be as comprehensive as possible. Some sites will only show you a small selection of financial products, but RateCity strives to show almost every financial product, regardless of any commercial interest.

It has always been the goal at RateCity to be the most comprehensive financial comparison site in Australia. We're proud that you can search and compare more financial products than other comparison sites.  

• We do not just show you products from brands that pay for referrals. 
• We do not just show you offers from the biggest banks in Australia. 
• We do not charge to have products listed on site, or to rate specific products better. 

RateCity has an ongoing commitment to show you as many products as possible, while arming you with the knowledge of how to compare your options. We allow you to view a range of offers and rates from nearly every institution in Australia, regardless of commercial relationships.

Put simply, each site has its own unique way of choosing which products or services to show you as results. While many function similarly, RateCity may give you a better scope of the market than other sites. 

Awards and rating systems

A common feature you may see across the different comparison sites are the awards and rating systems assigned to financial products, such as a 5-star rating to illustrate that one product may be more competitive than another. 

But did you know that these popular awards and ratings are generally calculated once or twice a year? By the time you view that product, the lender may have added a new fee or increased the interest rate, meaning a seemingly high rate may be out of date. 

Unlike other product rating systems, RateCity is the only comparison site that offers you live product ratings updated in real time. This is made possible through our Real Time Ratings™ system, in which product ratings are calculated daily out of five stars, making them as up-to-date for your comparison as possible.

Depending on the type of product you are comparing, the rating will factor in personal aspects so that you do not waste your time viewing products that aren’t applicable. For example, if you are comparing home loans, the Real Time Ratings™ score you see will be based on your deposit amount, the loan size and even your borrowing type (owner-occupier vs investor). 

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