best credit cards australia

Modern day buying and selling involves, largely if not wholly, credit transactions. The whole idea of using paper currency has now become a relic of the past. Regardless of whether you’re paying your monthly bills, purchasing air tickets or buying a car, everything’s taken care of with the simple flip of the card.

While credit cards have their benefits in that they provide considerable degree of safety and allow for relaxed repayment of purchases that are made, they can be a nuisance, too. This is especially true if you’re not careful about researching different credit card offerings and selecting one that best meets your needs. Massive advertising campaigns by Australian financial institutions offering credit cards make it even more difficult for consumers to decide on the most suitable credit card. If you also find it difficult to select credit card solution, then you should consider carrying out a credit cards comparison. Based on this comparison, you should easily be able to figure out the best credit card in Australia.

When carrying out a credit cards comparison, you should keep in mind the following important parameters:

1. Annual fee – the annual payment made to the financial institution that issues the credit card. The lower the annual fee, the better it is for the consumer.

2. Purchase rate – the rate of interest charged by the financial institution on every credit transaction.

3. Interest free days – the number of days for which no interest is charged, provided full repayment of the purchased item is made to the card issuer within the specified time.

4. Cash advance rate – rate at which a credit card holder is charged for obtaining advance cash using his credit card, for instance from an ATM machine.

Understanding these terms and making use of them while carrying out a credit cards comparison will help you determine the best credit card in Australia. Let’s say, you need a credit card for the mere purpose of obtaining advance cash from the ATM machine. In this scenario, you should look for a card with the lowest cash advance rate. Likewise, if you need a solution that offers the simplest repayment terms, then you should look for a card with lowest purchase rate and highest number of interest free days.