Study Results: Australians Quick to Switch Credit Cards
Posted November 16th, 2008
A recent study has conluded that over the past year, Australians have been faster than ever to swap financial service providers if they are not getting what they want.
A growth in financial education and ease of online credit comparison were found to be influences. Accenture, a consulting group found that 67 per cent of Australians won’t hesitate to change bank and/or product if they’re unhappy with their service.
Even with the recent outsourcing of customer service offshore among practically all Australian banks, banks (and internet service providers) were found to offer the best service overall. Life insurance providers were seen as the worst.
Even so, only 6 per cent rated the service provided by banks as “excellent”, 54 per cent said that it was “good” and the remaining third said that it was only “fair”.
If you’re unhappy with your credit card provider or feature, there’s plenty of options available on the internet. Online finance comparison sites make finding finance easier than ever with a third party, and independant review of products.
Are you Keen on Switching Credit Cards and Paying 0% p.a. on your Balance?
It sounds like some sort of dodgy ‘too good to be true’ advertising, but it truly isn’t.
Balance transfers are growing in popularity in Australia, but are still relatively unknown among consumers wishing to pay little on their interest repayments.
Click here for the range of 0% p.a. for 6 month balance transfer offers.
If you’re unfamiliar with balance transfers, check out our balance transfer guide and resources here. available on the Australian market.
If you’re interested in switching to a regular low rate card on offer from a different bank, click here to compare low interest rate credit cards.
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Comparison of our Top Credit Card Offers
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual Fee | Cash Advance Rate (p.a.) | |||
|---|---|---|---|---|---|---|
Bankwest Breeze MasterCard | A low interest rate on everyday purchases with a low balance transfer offer | 0% for 6 months (reverts to 10.99% ) | 4.99% for 9 months | $49 | 21.99% |   |
Citibank Clear Platinum Card | A low interest rate offer on balance transfers and purchases | 11.99% | 0% for 12 months with 3% handling fee | $99 | 21.74% | |
St.George Vertigo | An introductory offer on balance transfer and a low annual fee | 13.24% | 0.99% for 6 months | $55 | 21.49% | |
Virgin Flyer Credit Card | Earn 1 velocity point per $1 spent, plus an introductory offer on balance transfers | 20.99% | 1.9% for 12 months | $50 (for first year thereafter $99) | 20.99% | |
Westpac 55 Day Credit Card | No annul fee for the first year with a low rate on balance transfers and purchases | 0% for 5 months (reverts to 19.59% ) | 3.99% for 6 months | $0 annual fee for the first year ($30 thereafter) | 21.49% | |
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