
Related articles
Date Published : Monday, March 31, 2008
Many Australians find the credit card market to be something of a minefield. Deciding what card they want can be a long and sometimes confusing process.
However, consumers are advised to make sure they know what the main feature of the card is that they want before undergoing a credit card comparison.
According to news.com.au, those who choose to enter the world of low interest credit cards have a wide range to choose from, with all of Australia's major banks and financial institutions offering an array of credit cards which offer little, or no, interest.
If you don't pay your credit card off in full each month, or you make large purchases irregularly, a low-rate card might be good for you. People on low incomes may also be able to benefit from credit card offers which include low interest rates.
The website's John Synott said: "Students and low income earners, who do not pay off the card each month, should choose a budget card with low interest rates.
"Interest rates vary from seven per cent to 24 per cent, so if you don't pay off your credit card at the end of the month, shop around for a budget card."
By offering a lower rate, financial institutions are losing out on revenue and this lost money needs to be recouped somehow. Higher fees and charges are predominant in low-rate cards. Penalties such as annual fees, cash advance rates and late payment fees are common in these credit cards.
Compare credit card rates.
- Finance News
- Credit Cards
- Banking News
- Loans News
- Insurance News
- Investments News
- Insurer reveals top tourism destinations in Victoria
A motor and travel insurance provider has revealed the results of a poll it carried out to find out the most popular tourist attractions in Victoria.
- Woolworths plots growth
Woolworths, the retail giant responsible for the Everyday Money credit card, has revealed details of its growth plans.
- Mortgage rate cut 'unlikely'
Many mortgage and loan customers might be paying attention next month to see what decision the Reserve Bank of Australia makes on the interest rate.
- More mortgages please, says treasurer
There could be a greater level of investment in residential mortgages in Australia, if the federal treasurer gets his way.
- Banks becoming more selective, says ANZ
Despite confidence in the Australian banking system coming relatively unscathed through the global credit crunch, many institutions have become more cautious in their lending.
- Woolworths plots growth
Woolworths, the retail giant responsible for the Everyday Money credit card, has revealed details of its growth plans.
- Credit card interest rates 'remain constant'
A newly published survey of credit cards on the Australian market has highlighted that interest rates have held firm on the majority of offers.
- Credit card spending 'cools down'
Plastic credit cards in Australia have no danger of melting through over use as consumers begin to tighten their belts, new figures have shown.
- Protect yourself from credit card fraud
Almost half a million Australians were the victim of identity theft last year and there are a number of ways to protect yourself, your identity and your hard-earned cash, it has emerged.
- Nervous Australians could change their attitudes toward debt: RBA
The challenging economic environment could lead to Australians are not splashing their cash and building up a nest egg, according to Reserve Bank of Australia (RBA) governor Glenn Stevens.
- Australia to weather the storm, says IMF
Australia's economy is in a healthy enough state to see it make it through the global downturn in one piece.
- Australia to weather the storm, says IMF
Australia's economy is in a healthy enough state to see it make it through the global downturn in one piece.
- Public and government 'confident in face of global economic turmoil'
As the global economy takes a battering, Australians could be forgiven for fearing the worst when it comes to their own nation's money matters.
- Public and government 'confident in face of global economic turmoil'
As the global economy takes a battering, Australians could be forgiven for fearing the worst when it comes to their own nation's money matters.
- PM warns crisis is 'far from over'
Prime minister Kevin Rudd has warned the country that the global financial crisis still has a long way to go before it is over, it has emerged.
- Mortgage rate cut 'unlikely'
Many mortgage and loan customers might be paying attention next month to see what decision the Reserve Bank of Australia makes on the interest rate.
- More mortgages please, says treasurer
There could be a greater level of investment in residential mortgages in Australia, if the federal treasurer gets his way.
- Banks becoming more selective, says ANZ
Despite confidence in the Australian banking system coming relatively unscathed through the global credit crunch, many institutions have become more cautious in their lending.
- Retail banks - champing at the bit?
When many people come to take out a loan or a mortgage, their first inclination might be to turn to their own bank. On shopping around, they could find that better deals lie elsewhere.
- Global credit crunch 'will affect your everyday life'
As the credit crunch begins to bite in certain parts of the globe, many Australians might be wondering what it means for them.
- Insurer reveals top tourism destinations in Victoria
A motor and travel insurance provider has revealed the results of a poll it carried out to find out the most popular tourist attractions in Victoria.
- Health insurance spending to rise in 'ageing population'
Spending in areas such as health insurance and travel insurance could be set to increase as the proportion of the Australian population at retirement age increases, according to a new report.
- We are not AIG, claim IAG
Australia's largest home and car insurer Insurance Australia Group (IAG) has moved to assure shareholders and the media that it is not troubled insurance giant AIG, nor is it related to AIG.
- Insurance premiums could climb as much as 15%: KPMG
There could be a double-digit increase in insurance premiums in the near future, it has been reported.
- Pension contributions 'continue to fall'
Consumers struggling with their mortgage and credit card repayments are forgoing contributing to their superannuation savings, it has been reported.
- Australia to weather the storm, says IMF
Australia's economy is in a healthy enough state to see it make it through the global downturn in one piece.
- Australia to weather the storm, says IMF
Australia's economy is in a healthy enough state to see it make it through the global downturn in one piece.
- Public and government 'confident in face of global economic turmoil'
As the global economy takes a battering, Australians could be forgiven for fearing the worst when it comes to their own nation's money matters.
- Public and government 'confident in face of global economic turmoil'
As the global economy takes a battering, Australians could be forgiven for fearing the worst when it comes to their own nation's money matters.
- PM warns crisis is 'far from over'
Prime minister Kevin Rudd has warned the country that the global financial crisis still has a long way to go before it is over, it has emerged.
Advertisements