What's The Best Credit Card In Australia? Dumb Question Number 1!

By Author: Ndxmart
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Anyone who asks the question about what the best credit card in Australia is really doesn’t have their thinking hat on. If they thought about this a little more then they would realize that it would depend on the individual. We all have a virtually unique financial situations with different incomes, different commitments, different ways we spend money and different ways we repay debt, so to pretend that there are such things as universally best credit cards out there is being delusional.

What anyone looking for a credit card needs to focus on is what the best credit cards in Australia is for them. This doesn’t necessarily mean the one that gives them the biggest credit limit and it may not even be the card with lowest interest rate.

The individual first needs to have a long, hard think about how they are going to use the card in terms of the frequency of use, where they are going to use it, how much they will spend per month and how they plan on repaying the debt. Don’t forget that if the credit is required for one major purchase a personal loan might be better for you.

If you plan on shopping around ...
... the credit card deals online, which is a good way to get a good selection and to narrow your choices down these days, then it's good to know the features that are most important to you. If you think you need a credit card but know you aren't very reliable in making repayments then you could consider a pre-paid credit card or debit card.

If you must have a credit card then a long interest free period may be beneficial for you, if you are sure you are going to pay the debt off within that period every month (thereby accruing no interest); otherwise you will want to look for one with a low APR, because this will determine the interest you will be paying on your purchases.

If you are transferring debt over from another card to one new card then you will want one of the credit card deals offering the longest balance transfer period and the lowest rate – maybe even a 0% rate for a set period. But beware what happens after that period ends – be sure to find out what happens if you haven’t paid the debt off in the set period, as you may be sucked into a new debt cycle.

Most of the best credit cards will provide a couple of the key features that you are looking for; you'll never get everything as the card companies are experts in making money and you will have to snap up the one with the best features that most affect you and not concern yourself with those that won’t really affect you.

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