If you don’t think you’ll pay your full balance each month, having a lower ongoing purchase rate could be a good option. This means you’ll pay less interest on your remaining balance each month.
Low rate credit cards are great for bigger one-off purchases, which you could pay down over time, rather than using your card for everyday spending.
Do you plan to use your credit card for your everyday spending? If you choose a rewards credit card, you could turn your eligible purchases into points. Some will even offer annual bonus points if you spend over a certain amount within a year.
Since rewards cards usually have a higher interest rate, it’s important to try to pay your full balance at the end of each month.
If you’re a frequent flyer, you might want to pick a card that can help you build up those points. You could find yourself with free flights or accommodation, or access to airline lounges.
If you’re not, there are cards that reward you too. You’ll be able to redeem your points for products - ranging from clothes and homewares to travel vouchers and more - using their rewards website.
Make sure you shop around to find a card that suits your limits and spending habits, so you can maximise your point-earning potential.
Picking a card without an annual fee could save you hundreds of dollars.
Low fee cards usually have higher interest rates, but if you pay off the balance every month you can avoid paying interest on your purchases.
If you’ve got the travel or online shopping bug, look out for cards with no foreign transaction fees. These will waive the charge for online international purchases or transactions you make when overseas. Sometimes you can score other useful traveling features like free travel insurance and worldwide card replacement, which could really save you some cash.
Our Platinum and World credit cards have no foreign transaction fees.
Put simply, a balance transfer offer lets you transfer the balance of your current credit card to a new credit card at a lower interest rate, for a set period of time. This could help pay off your balance faster since you won’t be charged a high interest rate.
These offers can be useful when consolidating debt, but there are some things you should consider when transferring your balance.
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