Choosing The Credit Card Merchant Type That Is Right For You

There is a lot of competition between financial institutions and banks for your business, and this can make it quite difficult to know which brand of credit card is right for you.

You need to understand the differences between the major brands of cards so that you can make a more informed choice.

They are really only three major credit card types in Australia and they are American Express, MasterCard and Visa. People usually do not pick out which brand of credit card they want when they make an application to the bank. Usually the card is chosen because of a special deal that a financial institution is offering at the time.

Finding the right brand of credit card

Here are a few things you should look at when it is time to choose a new card.

Card acceptance

One thing to keep in mind when examining the brand of credit card is the acceptance level of the card. This means that you want to find a card that is accepted worldwide and by most retailers. Visa and MasterCard are the most commonly excepted cards, while American Express is more limited. If you find a great deal for an American Express card, you should consider this. You may end up getting very frustrated that you can only use your card at certain places, and you may regret not having taken the Visa or MasterCard cards.

Rewards cards

Some banks have different levels of points that are given out depending on which brand of card you choose. The Commonwealth Bank Awards card is an example of this. You can earn 1.5 points per dollar spent on an American Express card, but only one point per dollar spent on a MasterCard.

If you can find an offer for two cards that are both linked up to one account then you will have added flexibility. You can use the one that gives you the most benefits at the time of purchase.

The benefits

Every brand of credit card has its own perks and benefits that it offers.

• American Express Select offers its cardholders special dining and shopping offers, entertainment and travel benefits.
• Visa Entertainment is offered to Visa cardholders and it consists of exclusive discounts and offers for various events.
• MasterCard Applause offers exclusive tickets to sporting events, musicals and theater events. Cardholders may also get access to the MasterCard Global Service and other MasterCard promotions.

It does make a different which brand of credit card you choose. When you are examining all the different offers put forth by banks in order to get your business, remember to consider the brand and what it can do for you.

Check out today's featured offers:

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Popular Credit Card Offers

			Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)
	Westpac Low Rate Card - 0% Offer	A credit card with a low rate offer on both balance transfers and purchases, plus a low annual fee.	0% for 6 months (reverts to 13.49% )	0% for 6 months	$45	21.49%
	Citibank Clear Platinum Card	Competitive interest rate on purchases and balance transfers offer.	11.99%	2.9% for 12 months	$99	21.74%
	St George Vertigo	Take advantage of this great offer from St.George with a low rate on purchases and a low balance transfer offer.	13.24%	0.99% for 12 months	$55	21.49%
	ANZ Platinum Credit Card	An introductory interest rate offer on balance transfers and purchases, plus a $0 first year annual fee.	0% for 6 months (reverts to 19.24% )	0% for 6 months	$0 annual fee for the first year( $87 thereafter)	20.99%