Looking for the best credit card? Here's some tips to help in your comparison

The question we get asked more than any other is 'what is the best credit card'? While we can't answer this question for you, the reality is that there is no one best card on the market. The right card for you will depend on your spending habits, current debt on other cards, income, credit history and many other factors. Before you start a credit card comparison it is important to figure out what type of card will suit your needs. For example, if you know you won't pay your bill off in full each month then a low rate credit card may save you money on interest. If you do pay your bill in full each month and use credit for most purchases you may get a good return from a rewards credit card.

The aim of this site is to help make choosing the right product easier by comparing a number of cards on the market at once.

Credit Card Comparison Terminology

• Purchase Rate (%p.a.) - This refers to the equivelent annual rate of interest charged on purchases made on the card. It is normally possible to avoid paying interest on purchases by paying your statement in full by the due date each month (if they offer interest free days on purchases).
• Intro Rate (%p.a.) - On occassions cards issuers offer a promo rate on purchases for a limited period of time. Purchases will receive this lower rate during the offer period before returning to the standard purchase rate.
• Balance Transfers (%p.a.) - A lower interest rate may be offered on balance transfers. This allows you to move debt from other card issuers to your new card and receive a lower interest rate during the promotional period.
• Annual fee - Many cards charge an annual fee. If the annual fee is very high ($80+) then make sure you will get good value from other features such as rewards or features such as travel insurance to make the extra fee worthwhile.
• Interest Free Days - This term applies to purchases made on the card and will be refered to as 'up to' a cetain number of days such as 'up to 55 days'. The number of days stated is the maximum number of days in the billing cycle before interest will start being applied. For example, if you made a purchase on the first day of your billing cycle then you may have up to the number of interest free days quoted but as you get further into your billing cycle the number of days goes down.
• Cash advance rate (%p.a.) - This is the rate charged when you take out cash from an ATM using your card. Cash advances normally attract an ATM fee, much higher interest than purchases and often have no interest free period so should be used for emergencies only.
• Rewards - Some credit cards offer rewards such as frequent flyer points. Make sure the rewards will outweigh other costs such as annual fee or interest charges which can be high.

Balance Transfers: What to know

Many cards now offer a low or even 0% p.a. balance transfer offer when you apply online but look out for any transfer fees that apply, the length of the term and what interest rates will default to at the end of the promotional period. Create a budget and try to pay off the debt within the promotional period.

Quick and Easy Online Applications - Fast Approvals

All applications for products listed on the site are made directly with the banks themselves on secure online application forms. The applications take around 10 minutes to complete and some offer instant approval decisions online.

• Fast and secure online applications
• Direct with bank of your choice
• Quick Approval