5 Ways to Cut Through the Nonsense with Australian Credit Card Deals

There are a lot of sites claiming to have the "best credit cards" in Australia and "must-have" credit card deals that are everybody's financial god-send!

Most people are savvy enough not to fall for all the marketing but it does help to have some guidelines to authenticate whether a card is suitable for you. Here's a few things to consider before you can hope to find the best credit card deals for your needs – which is, after all, what counts!

Do You Check Statements and Make Repayments on Time?

Very important is whether you are able to make repayments each month before the interest-free period expires. If you are the type that has a system to read statements and then clear the balance before the interest-free period ends then you can get by with never paying interest.

This can be a real financial gift that you shouldn’t miss and it can truly provide you with the best credit card in Australia if you never pay interest! But it depends on YOU and the card – and that's the key. Knowing your own habits for spending and repaying debt is invaluable for matching the right credit card deal.

How Important Are Rewards?

Many cards push rewards but these should usually be the "trimmings"; it's the main features of the card you need to carefully asses and compare. Interest rates, interest-free periods, balance transfers, annual fees and cash advance rates, fees and charges for overseas transactions, acceptability of the card - all these factors may influence you more than rewards, though they can often provide some nice perks.

What Happens When the Honeymoon's Over?

Many Australian credit card deals push their wonderful introductory or "honeymoon" offers that last 6 months – low rates, annual fee waived for the first year etc. If you are in the market for a card for long-term use then check how much the rate balloons to after the initial period ends – you may be in for a shock!

How Important is No Annual Fee to You?

Again, often some of the so-called best credit cards offer no annual fee as their main selling point. The annual fee becomes less important the more you use your card. If you only use your card a few times per year then a $100 annual fee may be objectionable, but the same fee spread out over many purchases on a card you use very day, would seem far more palatable. Again, consider your own use of the card, to choose the best deal that's right for you.

Remember There are NO Perfect Cards!

If you’re looking for the perfect card where everything fits what you want you probably won’t find it. It's best to pick a few features that match your way of life and spending/banking habits, not be swayed by in-your-face-marketing and make a sensible choice of card that has MOST of what you're after.

For more information regarding Australian credit cards, credit card deals and online credit cards, please visit: www.lowerbills.com.au