Trying credit cards for the first time?
10 April 2008
Credit cards can seem daunting to first time users, what with the possibility of debt and interest accumulating. If you are looking for your first credit card, then there are a few options that should ease you into using your new finance tool.
The Citibank Clear Card is exceptionally good value for your initial card, as it provides an extremely low purchase interest rate of just 11.99% p.a. with up to 55 interest free days by avoiding a balance transfer offer. No rewards or other benefits, the Citibank Clear Card lets you focus on being able to pay off your balance. It is very easy to become comfortable with the use of credit cards with this card, as if you use it wisely, you can be quite unlikely to fall into significant debt. The annual fee is quite reasonable for the low interest rate, at only $65 per year.
For those who are more confident they will be able to avoid interest by paying off their balance before they run out of interest free days, then the Commonwealth Bank Low Rate Credit Card could be a preferable option. A low annual fee of $48 is charged, and for this you still get a reasonably low rate of 13.24% p.a. which is the same for purchases or cash advances. On purchases you also have up to 55 interest free days, making this a very tempting card if you ensure your payments are prompt.
For more credit cards for first time users, please visit our comparison page of low interest credit cards.
November Credit Card Offers
You don't need be an Aussie customer
Life's better with more zeros
Ongoing low interest rates
featured credit card issuer
