Choose your perfect credit card

28 February 2008

The right credit card is as individual as you are. Not everyone has the same credit needs, and some people want more than just a safety net of funds for emergency expenses. You may think you don't have the time to search for the best deal for you, but a few helpful suggestions could be all you need to get on the right track to credit bliss.

Have you been a bit liberal with your current credit card recently and the interest rate is killing you? You might want to make a balance transfer to a card with a lower rate. Consider the BankWest Lite MasterCard. For the first nine months the balance transfer from your previous card will accrue no interest. That would let you pay off your last big spend without needing to worry about your balance growing out of control. Once you're ready for another round of shopping, you'll still have a great credit card, with a purchase rate of only 9.89% with 55 days interest free! The annual fee of $59 is a steal for an offer like this, so if you need to recover from a year of shopping, try the BankWest Lite MasterCard.

Maybe you don't need a credit card often, but when you need it, you really need it. Online purchases are becoming more and more popular these days, and chances are the easiest way to pay is with a credit card. Hotels may not even let you in without one! If you don't intend to use a credit card unless you need to, try the Commonwealth Bank Low Fee Card. Costing you only $24 dollars in annual fees and with 55 days interest free on purchases, the 19.39% purchase rate won't worry you at all. Just pay what you need in the interest free period, and you will only need to pay $24 each year for the convenience and versatility of a credit card. For cheap credit convenience, go with the Commonwealth Bank Low Fee Card.

If you don't mind spending with a credit card and want big rewards, the American Express Platinum Credit Card will offer you extravagance. If you make at least $65,000 per year, this card could give you a magnificent lifestyle boost. For $395 per year you get 1.5 reward points for every dollar you spend on your card, as well as overseas travel insurance, transport accident coverage and you can include friends and family members at no extra charge. With added benefits such as a domestic economy flight with Qantas each year, the higher annual fee and reasonable purchase rate of 18.24% easily pay for themselves. For a stunning difference in lifestyle choice, apply for a American Express Platinum Credit Card.