![]() Taking the time to research and compare credit card options based on your spending habits and financial goals may be worth considering.Ĭredit cards can be a helpful financial tool for cardholders, but they can also be an easy way to accrue debt or hurt your credit score if you’re not careful. Ultimately, the right credit card for you will depend on your individual financial situation and spending habits, so it's important to compare different options and read the fine print before making a decision. Having a higher interest-free period may offer you more time to budget for, and pay off, your big-ticket purchase.Īs you can see, credit cards vary significantly. Some credit cards will offer around 44 – 55 interest free days, but can be higher or lower depending on the provider. If you have a specific goal in mind, such as purchasing a new appliance or electronic device, it may be worth looking for credit cards with a high number of interest-free days. If you frequently travel overseas, you may want to consider a card that rewards you through generous perks and programs, such as frequent flyer points for your preferred airline membership, complimentary travel insurance or free airport lounge access. Alternatively, if you’re struggling with your debt, a 0% introductory rate on a balance transfer credit card may help you gain some much-needed breathing room to pay off your debt faster. If you tend to accrue interest on your credit card each statement period, it may be worthwhile considering a low interest rate credit card. This way, you can earn points or cashback on your purchases without paying any interest or fees. ![]() This may include cashback deals on sign up, rewards points or frequent flyer points. If you're someone who always pays their credit card balance in full each statement period, you might want to look for a card that offers you benefits for your spending. There are a range of different types of credit cards that may better suit various customers, depending on your financial situation and goals. There is no one-size-fits-all approach when it comes to credit cards. You can also take advantage of the perks and benefits associated with many credit cards, such as purchase protection, extended warranty and rewards programs. Paying your credit card bills on time can help to boost your credit score. This can come in handy when applying for home loans or personal loans in the future, as a lender will assess your credit history and score when you apply. Responsible use of a credit card can help you build a positive credit history. There is no limit on what you can spend on, only a limit for how much you can spend.Ĭredit cards aren’t just a means to make purchases. They can be used for everyday purchases, such as your morning coffee, or big-ticket items, such as a new appliance. But they can also be risky if used without self-control, as they can easily result in credit card debt. The amount of credit you have access to is called your credit limit, and you may be charged interest on any outstanding purchases made.Ĭredit cards can be a helpful financial tool that allow you to make purchases when you don’t immediately have the funds. Updated by Alex Ritchie on September 01, 2023Ĭredit cards give customers access to a line of credit for purchases. Easy Street Financial Services Easy Low Rate Visa Credit Card - 8.99%.G&C Mutual Bank Low Rate Visa Credit Card - 7.49%.These are some of the lower purchase rate credit cards on the RateCity database: Opting for such a card could help ease the sting of high monthly credit card statements. If you often get hit with interest charges, it might be worth considering switching to a credit card with a lower-than-average purchase rate. In fact, RateCity research shows that all cardholders with debt are collectively paying $8.57 million a day in interest charges. While a decrease is good news, this figure is still substantial. Meanwhile, the total of Australia’s credit card bills attracting interest charges has fallen for the second time in nine months to a total of $17.73 billion. Did you know that some airport lounges offer travellers single-use or day pass entry (at a cost)? With more Australians travelling post-COVID-19 lockdowns, RateCity explores six ways you can get airport lounge access. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |