There is a variety of credit cards in Australia and choosing the most suitable one for you allows you to save on credit card costs and purchases you make.
Each card has a special offer and different benefits so you need to research among the credit card issuers before applying for a credit card. Credit card applications require you to be 18 years old older, to be a permanent resident of Australia and providing necessary documentation.
0% Balance Transfer Cards
- HSBC Platinum Credit Card Balance Transfer Offer: You do not need to pay off balance transfer fee and do not have to pay interest for 22 months as well. But, you will be charged 21.99% p.a when the promotional period ends. You need to pay off $129 p.a annual fee but you can refund that amount as long as you spend $6,000 each year on some purchases. You also earn 2 bonus points for each dollar you spend on overseas purchases.
- George Vertigo Platinum Credit Card: You do not need to pay off interest for 18 months and do not have to pay off balance transfer fee. For the first year, you need to pay off $49 annul fee then you need to pay off $99 for each year.
If you want to save money on interest, these cards can be helpful since they allow you to pay no interest for a promotional period.
Low Interest Cards
- Citi Clear Platinum Credit Card: Without paying off a balance transfer fee and p.a for 14 months, you can transfer your other credit card balances. You can also save on money since you do not need to pay off annual fee for the first year but thereafter you will be charged $99 each year. You will also get an ongoing purchase rate of 2.99% p.a. which is lower.
- Georger Vertigo Platinum Credit Card: For 18 months, you need to pay off 0% p.a on balance transfers without being charged a balance transfer fee. The purchase interest rate you will be charged is 12.99% p.a and you need to pay $49 p.a annual fee for the first year (then $99 for each year).
If you want to deduct the amount of interest from your purchases, you may choose applying for one of these cards.
As you spend, you earn bonus points which can be use in getting free flights, cash backs, discounts and upgrades.
- Qantas Premier Platinum Credit Card: If you spend more than $1,500 each month for the first 6 months, you can earn up to 120,000 bonus points. You pay off 0% p.a for 18 months on balance transfers and will be charged $199 p.a annual fee for the first year.