Best Credit Cards
Balance Transfer Cards
Reward Credit Cards
Frequent Flyer Cards
Cashback Credit Cards
Low Interest Cards
0% Purchase Cards
No Annual Fee Cards
Student Credit Cards
Gold Credit Cards
Platinum Credit Cards
Debit Cards
Corporate Credit Cards
Small Business CardsWith so many different types of credit cards available on the market, choosing the best card for you can be complicated. There isn’t a credit card that can be referred to as being the best on the market unless it is being considered from a subjective viewpoint because each person has different needs and requirements of their card.
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual Fee | Cash Advance Rate (p.a.) | |||
|---|---|---|---|---|---|---|
 St.George Vertigo | A great balance transfer credit card with a low ongoing interest rate. | 13.24% | 0.99% for 6 months | $55 | 21.49% |   |
 HSBC Credit Card | Enjoy the $0 annual fee of HSBC Credit Card. | 17.99% | 0% for 8 months with 2% handling fee | $0 | 21.99% | |
 Citibank Clear Platinum Card | Take advantage of the lowest rate when you transfer your balance to Citibank Clear Platinum Credit Card. | 11.99% | 0% for 12 months with 3% handling fee | $99 | 21.74% | |
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual Fee | Cash Advance Rate (p.a.) | |||
|---|---|---|---|---|---|---|
 Bankwest Breeze MasterCard | Bankwest Lite offers one of the lowest interest rates in Australia. | 0% for 6 months (reverts to 10.99%) | 4.99% for 9 months | $49 | 21.99% | |
St.George Vertigo | Another awesome credit card for those looking for a low interest rate. | 13.24% | 0.99% for 6 months | $55 | 21.49% | |
 Bankwest Breeze Platinum MasterCard | Nothing beats paying a low rate while enjoying the services of a 24/7 concierge plus complimentary insurance. | 0% for 6 months (reverts to 10.99%) | 4.99% for 9 months | $99 | 21.99% | |
 Westpac Low Rate Card | Save on annual fee and enjoy a low rate on balance transfers. | 1.9% for 9 months (reverts to 13.49%) | 3.99% for 6 months | $0 annual fee for the first year ($45 thereafter) | 21.49% | |
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual Fee | Cash Advance Rate (p.a.) | |||
|---|---|---|---|---|---|---|
 American Express Platinum Edge Credit Card | Earn points up to 3 times faster and ejoy complimentary domestic return flight every year. | 0% for 6 months (reverts to 20.74%) | $149 | | ||
 Westpac Earth Classic | Earn 1 Qantas Frequent Flyter point for every $1 you spend with this card. | 19.99% | 0.99% for 6 months | $75 | 21.49% | |
 American Express Platinum Reserve Credit Card | Earn 1.5 reward points for every dollar you spendon the card and enjoy a complimentary flight every year. | 0% for 6 months (reverts to 20.74%) | $395 | | ||
 Westpac Earth Platinum Cards | High platinum earn rate of up to 1.5 Qantas Frequent Flyer points per $1 spend plus a range of Earth Platinum privileges. | 19.99% | 0.99% for 6 months | $250 | 21.49% | |
Choosing the Best Credit Card: A Matter of Personal Requirements
First of all, you need to analyse your spending habits and how you make your repayments. For example, if you know you have a habit of overspending and tend to carry a balance on your card or even max it out, the best credit card for you would be one with a low interest rate so you can save money.
On the other hand, if you are a disciplined consumer and rarely overspend, paying off your credit card statement in full at the end of each month even when you do, then you can look at other features. For example, a credit card with a comprehensive rewards program might be suitable for you as well as one that features a longer interest-free period. The latter usually goes up to 55 days, which would probably be the best option for you, giving you a little extra time to pay off your purchases.
A credit card with a rewards program is generally less suitable for people who carry balances on their cards because they tend to come with higher interest rates than basic credit cards. Plus, if you are already in the habit of overspending, the rewards points you can earn might be too tempting and you could end up spending even more than you intend. So, to save money and eliminate temptation you are better off with a basic, low-rate card.
Your Personal Guide to Choosing a Credit Card
So, the easiest way to determine which credit card is the best option for you is to answer a list of questions and based on your answers you can find a card that meets your requirements and personal situation. Therefore, as already mentioned, you need to analyse your spending and repayment habits.
If you have a high monthly turnover on your credit card, then a credit card with a rewards program could be ideal for you. Likewise, if you travel quite a bit, then you might want to look for a travel-related rewards program, as you can redeem your points for free tickets, hotel discounts and more.
On the other hand, if your credit card is mainly for emergencies and will rarely be used, then you probably should be focused more on the interest rate and the annual fee you will be paying. The lower the rate and the lower the annual fee, the more money you can save.
Additionally, if you have multiple credit cards that carry outstanding balances with high rates, then you should be looking at balance transfer credit cards. These types of cards will allow you to pay off your existing credit card debt much faster and at a much lower rate, which will translate into significant savings.
As you can see, choosing the best credit card is really a subjective matter as one card could be perfect for you but a terrible option for someone else, depending on a variety of factors. Thus, to make sure you are getting the best deal, analyse your personal situation and then start shopping around.
