Compare Credit Cards In Australia And Save Money

Discover the points to watch out for when you compare credit cards in Australia. Know what to look for according to your own situation so that you can save yourself some money.

Featured Low Interest Credit Card

The St. George Vertigo MasterCard is a great low interest credit card with a low interest rate on both purchases and balance transfers.

• $55 annual fee
• 12.49% p.a. on purchases
• 2.99% p.a. for 6 months on balance transfers
• Cash Advance Rate of 21.24%

Click here to read the St George Vertigo terms and conditions

You may be asking why you even need to compare credit cards in Australia. After all, your bank is happy to give you theirs and it’s so much easier just to take it. A credit card is a credit card, yes?

No. Far from it. There is a great variety of cards out there targeting different types of consumer, and there is plenty of competition which makes for some excellent deals. But you won’t find them if you don’t compare the market.

Tips when you compare credit cards in Australia

These are the key considerations you have to bear in mind when you start to compare credit cards in Australia:

If you pay the balance in full every month

If you are the type who always pays their balance in full every month, then you should be looking for a credit card that does not charge an annual fee, and this should not be some first year offer, rather it should be guaranteed for the life of the card. This means that you can use your credit card entirely cost-free, avoiding annual fees and interest charges.

Clearly, for this to work there must also be a number of interest-free days on purchases, but there aren’t many credit cards that do not offer either 44 or 55 days interest-free. The purchase interest rate does not matter if you are clearing your balance every month, but there are some no-annual-fee cards that also offer very reasonable interest rates for those instances when you may not pay you bill off in full – another reason why you should compare credit cards in Australia.

If you keep a balance on your card always or sometimes

If you do not clear your balance in full each month, then you will be hit with interest charges, therefore you should be searching for a credit card with a low rate of interest to keep these charges to a minimum. There are rates down as low as 10% currently. You should also bear in mind any other fees that are applicable if you break any of the credit card rules, say if you pay late or exceed your credit limit.

If you have a balance to transfer

Then you will clearly need to compare credit cards in Australia to find a great introductory offer on balance transfers. There are several twelve-month deals around at the moment, offering rates as low as 1.99%. This can save you hundreds of dollars over the year. Just check the revert-to rate to make sure you won’t be stung at the end of the offer period.

You may also want to take into consideration any rewards schemes that are attached to the card, especially the cashback schemes that return a percentage of your spend as a credit on your statement.

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0