Why Do So Few People Make A Credit Card Comparison?

People use credit cards in different ways and for different purposes. Some may only ever bring their credit card out into the light in an absolute emergency, whereas other people use it on a daily basis several times a day. There are classic credit cards, gold credit cards, platinum credit cards, frequent flyer credit cards, rewards credit cards, student credit cards, low-rate credit cards, zero-fee credit cards … the list goes on.

So, how, with all this information bombarding you, are you to make a sensible credit card comparison? Where do you start?

The best place is at your kitchen table with a piece of paper and a pen, with your laptop switched off. Although you will eventually need to visit a credit card comparison website to locate the very best deal, you can’t be expected to know what that is unless you know what is important to you.

If you are student, then an American Express Platinum Card may be very attractive, but is not an option. That’s an extreme example, of course, but it makes the point: you need to know what credit card will suit your current needs, and the credit card you are most likely to be eligible to apply for.

Using the tried and trusted paper and pen combo, you should write down exactly what you require from your credit card. Bear in mind that your circumstances may have changed. A low annual fee credit card may have worked when you were paying off your bill each month, but it that’s changed and you regularly keep a balance carrying over from month to month, then your key consideration will be a low rate of interest on purchases. If you can secure a 0% purchase rate offer for a while, so much the better.

Setting out your key requirements serves to focus your thoughts when you commence your credit card comparison. This is so you are not easily side-tracked by offers that aren’t terribly suitable but are designed to make you stop and take notice. Having written down your needs, it is easier for you to move on from these tempting but fairly useless offers and concentrate on finding a card that is exactly right for you.

Try not to just “go with the flow” when making a credit card comparison. Write down what it is that you want, and gear your search to that criteria.

• 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