financialservicesonline

Australian Insurance, Finance, Superannuation & Investment Resources

Income Insurance Calculator
Need to get a Loan Finance Quote Right Now? Start Here

Credit Cards

Compare Credit Cards

Which Credit Card is Right for You?

If you're in the market for a new credit card, there is a bewildering array of cards to choose from. There are even more incentive offers.
So how can you decide on the card that is best for you?
Here are some of the factors to consider.

What Kind Of Payer Are You?

The most crucial question is whether you are a person who clears the credit card every month or whether you always leave a balance on the credit card.

If you pay up at the end of every month, then you can go for a credit card that offers an incentive. If not, then you need to look at the annual percentage rate (APR) on the card.

If you know what your typical credit card balance is, look at the illustrations given by card issuers to give a guide to how much you might have to repay over time.

Taking An Interest

Even with interest rates, you need to be careful.

Although your new credit card may come with a 0% balance transfer rate, this is not the only rate to think about.

Look at the rate on purchases or other transactions to see what you might be paying. And remember that any payments you make are likely to pay off the transferred balance first, while any new spending accrues interest.

Hand in hand with the interest rate goes the interest-free period. This is the delay between spending money on the credit card and being charged interest.

This can vary considerably depending on the card you choose. The interest free period can be as much as 56 days. And it's how you use it that counts.

If you put major spending on the credit card after the statement date, you have a month till the next statement, and then a few weeks to make the payment. This can be a good way of managing cash flow.

Look At The Fees

There are three types of fees that count with credit cards. The first is the cash withdrawal fee. Many credit card issuers charge you for withdrawing cash at an ATM.

These fees can be around 2% of the transaction. The percentage is even higher when withdrawing cash abroad.

If you must use the credit card, then you're better off making one large withdrawal so you don't pay the minimum fee each time.

Getting Some Cash Back

Some credit cards offer annual cashback deals which are great for people who clear their balance every month, but not so good for others.

If you don't clear your balance, the interest charged will wipe out any cashback gains. There are also reward points schemes that allow cardholders to earn money from their spending - and spend it again with a variety of high street and online retailers.

Paying attention to these items will help you to choose a credit card that will match your financial situation.

Finance Calculators

How much can you borrow?

Our financial calculators are provided for your free use on this website and are designed to remove some of the guess-work to help you make informed financial decisions.
Insurance calculators

Please note that some of our calculators may use assumptions that are not necessarily applicable to your current specific circumstances and we therefore cannot always guarantee their accuracy. You should always seek professional financial advice from a licensed professional before proceeding with any financial recommendations.

Mortgage Repayments [click]
Calculate monthly mortgage repayments on various home loan amounts and interest rates.

Home Refinance Calculator [click]
Compare the cost/benefits of refinancing your home loan.

Fortnightly Mortgage Repayment Comparator [click]
Compare the effect of paying monthly mortgage payments as opposed to paying fortnightly.

Car Lease Payment Calculator [click]
This calculator will help to calculate vehicle lease repayments

Car Loan Calculator [click]
Calculate and compare monthly car repayments

Financial News & Information

Popular Finance Articles
How Credit Card Balance Transfers Can Damage Your Credit Rating How Credit Card Balance Transfers Can Damage Your Credit Rating
Since the banks and finance providers have been castigated for the way they seemingly indiscriminately awarded credit to people who could ill afford it, the chances of being accepted for loans and credit cards have decreased. Concurrently, there is a greater focus on individual's being aware of how credit works and what their financial behaviors means in terms of a credit score and history. - read more
Credit Card Secret Guarantee Credit Card Secret Guarantee
Most people use credit cards in some form or another but few truly appreciate one of the special features of credit cards that make using their credit card to insure their purchases. - read more
Car Leasing Car Leasing
Leasing is an often misunderstood car financing option so, in response to subscriber feedback, we've included this article to help give you a better understanding of what it is and how it works. - read more
Credit Cards: Identity Theft and Credit Protection Credit Cards: Identity Theft and Credit Protection
Credit card fraud and identity theft have become widespread not only on the Internet but offline as well. Learn how to avoid these risks and protect your identity as well as your finances or credit line. - read more
Recent Finance Articles
How to Assess the Financial Impact of Refinancing Your Home Loan How to Assess the Financial Impact of Refinancing Your Home Loan
Refinancing a home loan involves replacing an existing mortgage with a new one, usually with better terms and interest rates. This process allows homeowners to lower their monthly payments, access equity, shorten the loan term, or switch from an adjustable-rate to a fixed-rate mortgage, among other benefits. - read more
Exploring Different Refinancing Strategies to Ease Your Mortgage Stress Exploring Different Refinancing Strategies to Ease Your Mortgage Stress
When it comes to managing finances, one of the biggest stressors for homeowners is their mortgage. In Australia, many individuals and families struggle with mortgage stress, which can have a significant impact on their overall financial well-being. - read more
Navigating Inflation: Tips for Coping with Increasing Cost of Living Navigating Inflation: Tips for Coping with Increasing Cost of Living
Inflation is a steady increase in the general price level over time, resulting in a decrease in purchasing power. It affects the cost of living, as rising prices can impact household budgets. As prices for goods and services rise, it becomes more expensive to maintain the same standard of living. Every dollar spent buys fewer goods, leading to a reduction in real income. This can be particularly challenging for individuals and families with fixed incomes or limited financial resources. - read more
Financial Education for Aussie Kids: 5 Fun Ways to Teach Money Skills Financial Education for Aussie Kids: 5 Fun Ways to Teach Money Skills
Teaching kids about money is an essential skill that sets them up for a lifetime of financial success. By introducing money concepts at a young age, children can develop a solid understanding of how to manage their finances responsibly. - read more

Important: Financial Services Online is a referral service. We provide general information only and we do not offer financial advice. We refer all insurance, finance and other enquiries that are initialted on this and our associated websites to specialist advisers who are licensed in their respective fields. You should always seek professional advice before making important financial decisions.
';