Credit Card Reviews – How to Review a Credit Card

It would not be the wisest decision to take on the first credit card deal that took your fancy without conducting some sort of credit card review.

There are over 1000 different credit cards available on the market, and card companies pull out all the stops when it comes to radio, television and billboard advertising in a bid to win our business.

What you need to remember that all these credit cards are offering different features and benefits, and so it is worth taking that extra little bit of time doing some credit card reviews to ensure you get the card that will suit your personal financial needs the best.

Credit Card Reviews Tips

Here are some useful ways to carry out a thorough credit card review:

1. What type of card do you want? – All credit cards differ in many was. They will offer different interest rates, different reward schemes, and different promotional rates. It makes sense to figure out exactly what you need from a new credit card before you work you start conducting a credit card review.

   You may have some existing credit card debt that you need to pay off, and are looking for a good 0% balance transfer deal, or you may fly regularly and would benefit more from a reward scheme credit card?

   Because of the vast number of different cards available, every customer will want different benefits from a credit card provider. Although many people will be drawn to the offer with the lowest interest rate, or longest interest free period, have a look at the overall deal and see if it really is as good as it seems. By doing a review based on your own personal situation, you are more likely to choose a card that will be a perfect fit for you.

2. Don’t fall in love with promotional offers – It is easy to be drawn to a fantastic low rate on a balance transfer, however it is very important to remember when going through your credit card reviews, that they are only promotional offers.

   The interest rates you will revert to at the end of the special introductory period may not be very attractive at all. The standard rates of interest are very important to take into account when comparing credit cards.

   One thing to note with balance transfer credit card offers is that sometimes they also offer an interest free period on purchases. If the interest free period is shorter than the balance transfer period, check with the card provider that you are able to pay these purchases off before you pay off the balance transfer balance. Otherwise you may be caught out for a chunk of interest.

3. Use the Internet for your credit card reviews – Although it is still possible to go into the branch of a bank and pick up an information leaflet about a credit card, using the Internet is a much more complete way to compare credit card deals.

   Many credit card providers have special offers that are only available if you apply for the card online. Not only that, but there are also some fantastic tools on the Internet that make it much easier to compare different offers. Often many sites use a comparison table to show you many deals all at the same time, leaving you to just cross reference the features and see which card suits you best.

4. Check your credit rating – There are a number of reasons why you should check out your current credit rating before applying for a new credit card. When you apply for a credit card the potential lender will run a credit check on you.

   If there are any mistakes on your credit file which are affecting you in a negative way, without checking your file first, you will not know about any errors until you have been refused credit.

   The next most important reason to check on your credit file first is that if you see you have a slightly tarnished history you can think about applying for a credit card aimed specifically at consumers with a bad credit rating.

   These cards will come with a higher standard rate of interest, but give you a chance to rebuild your credit history, regain your financial reputation, and the opportunity to choose from a wider range of deals in the future.

5. Are you a regular flyer? – Credit card companies have realised how much potential there is in the reward card schemes, and so many offer credit cards that have reward programs attached. Members are given points for using their card, and those points can be exchanged for different gifts, including air travel.

   If you are in business, or travel regularly for any other reason then these cards are worth considering during your credit card review. They really are win win, as the points you earn when you pay your travel on the rewards card will then end up being redeemed for future travel!

6. You can get an instant decision – Something else to consider when comparing deals is that many offer the chance to get an instant decision on your application.

   It is perfect if you are very busy, and do not have time to spend hours filling in, and posting off credit card applications. With an instant decision card you just fill in the forms online, submit the form, get a decision and then your card should get sent to you in the post.

   Bear in mind that if you make many credit card applications in a short period of time it can have a negative affect on your credit rating. That it why it is worth doing your credit card reviews in full before applying for a card of this type.

7. Are you a fan of online shopping? – If so there are some credit cards that are aimed at you. Some cards will offer special discounts, and rewards when you shop online so keep an eye out for them!

8. Compare the fees – Credit cards are known to come with various types of fees attached. Transfer fees, late payment fees, and annual fees, are all different fees you will come across.

   Some of these can be quite high so make sure you do take them into account. It is all well and good getting a great balance transfer deal, but if you then have to pay a $500 annual fee the money you saved on the transfer may quickly get swallowed up.

9. Fraud cover – With credit card fraud becoming a much bigger problem looking at a providers fraud protection policy as part of your credit card review is very sensible.

   Some companies have some very tight guidelines designed to protect their customers as much as possible, and these are the kinds of positive things you should be looking for.

   Some card providers have better protection for their customers than others, so read the small print and see where each lender stands in terms of how it will look after you in the event of card fraud.

Credit Card Reviews Are Your Friend!

Finding a suitable credit card may seem like a long and worrying task. The fact is, that taking the time to find the perfect card will greatly help you in the long run. Work out what you want, use the many tools there are available to help you compare all the different offers, and most of all, do not be afraid to ask questions!

Check out today's featured offers:

Westpac Low Rate	Citibank Clear Platinum	Qantas AMEX Discovery	ANZ Platinum
0% p.a. for 6 months on purchases & balance transfers	2.9% p.a. for 12 months on balance transfers	$0 annual fee Up to 10,000 Bonus QFF Points	0% p.a. for 6 months on purchases & balance transfers

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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%