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.
For more information regarding best
credit card in Australia, credit
cards comparison and credit card applications
, please visit:
www.lowerbills.com.au
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