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Low Interest Rate Credit Cards
To see if a low interest rate Australian card is right for you, you first need to work out whether you are an "interest payer" or a "transactor". Interest payers don't clean their balance each month and as a result will get more value out of a low interest rate card. Switching to a low rate card will save "interest payers" thousands in the long run. |
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Balance Transfer Credit Cards
A balance transfer Card allow you to transfer higher interest
rate credit card balances onto a lower rate card for the
advertised period. So if you transfer a balance from your
old card to a low introductory rate of zero percent, the balance will stay at the lower interest level for
that period of time, it is important to pay this balance off
first before using this card for purchases in this
introductory period as it usually reverts to a much higher
rate |
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No Annual Fee Credit Cards
A no annual fee card can be left in your wallet and only used in the case of an emergency and is perfect for those who find they need a card only as a backup for bookings or purchasing online. Although the interest rate is generally higher if you pay back the balance in the prescribed time it is not an issue. With a no annual fee it's not going to cost you anything to have a backup to funds should that emergency occur |
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Airline Rewards Credit Cards
Earn free airline miles every time you make a purchase with any of the Australia cards listed below. Airline miles cards allow you to earn free travel with every dollar you spend. Airline rewards or Frequent Flyer cards are great if you do not like rewards and would rather fund an airfare or a discount holiday package. If you are a big spender and pay your balance out each month the benefits of a premium frequent flyer card can help you achieve your goals |
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Gold Silver & Platinum Cards
Gold Cards for high incomes, with extended credit facilities and reward programs.
These programs usually come with higher interest rates and annual fees but these cards are clearly aimed at the big spender
who pays his balance monthly or corporate market and give you status
and services and rewards. When you use your credit card at one of their program partners you can receive even more points. It is important to analyze your credit card spending habits and if you are not a big spender and do not pay out your balance owing each month you may be better applying for a lower interest rate card. |
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Reward Credit Cards
These reward cards reward you with cash-back, airline miles, and benefit programs. Reward programs are a great way to earn benefits and get something back from your card provider. These cards have higher interest rates, higher annual fees, or other fees. You should only apply for a rewards card if you are a big spender or applying for a corporate card and plan to pay the balance off each month
in the prescribed interest free period. If you know you or your employer will pay off your balance
owing each month before the interest free period, then a rewards
program could be right for you. |
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Business Credit Cards
Having a dedicated small business credit card has many rewards and benefits. A business card keeps your company finances separate from your own personal spending so there is no confusion at tax time or when preparing your expenses. Their rewards programs can give you access to great benefits including frequent flyer points, higher spending limits, discounts on accommodation and other rewards. Employers can use these cards to reward employees, separate costs and impress clients. |
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Debit Cards
Why pay interest on a credit card when you can have a debit card? A debit card operates like a cheque or cash. When you do a purchase with a debit card, the money is instantly withdrawn from your bank account. With a debit card, you are simply allowed to spend the money that is in your account and has no credit facility attached. These cards are great if you want to control your spending or do not want to waste money paying interest and fees. In some cases you can link your debit card to an interest bearing account. |
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