Revealing The Best Credit Cards
February 2nd, 2010
Examine your own personal finances so that you can find the best credit card for your own needs. Understand that there are many factors to consider and that not all credit cards are the same.
Best Credit Card
The Citibank Clear Platinum credit card is an excellent card choice because it gives not only gives you an excellent balance transfer offer, but it also has a very low standard interest rate and saves you $50 on the first years annual fee
- $99 annual fee
- 11.99% p.a. on purchases
- 2.9% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.74% p.a.
- 55 days interest free
Deciding which is the best credit card is a highly subjective issue. There is plenty advice out there and this can be very helpful, but you must make sure you are searching in the right area to start with. For example, if you always pay off your bill in full each month, then the credit card with the lowest rate of interest will probably not be the best credit card for you. Instead, you should be looking at a card that does not charge an annual fee so that you can keep your credit card entirely without charges.
To an extent, your income will also determine the best credit card for you because you may not be eligible to apply for a gold or platinum card that may ideally suit your needs. However, there is such competition in the marketplace at the moment that there is no reason you cannot find a great credit card no matter what your income is. The key is to keep your focus and know which feature or features most closely match your individual requirements. Try not to be distracted by extras that do not really matter, and takes these only if they do no detract from the main purpose of the credit card.
Best credit card introduced:
If your idea of the best credit card is a fantastic low interest rate, then the BankWest Lite MasterCard has 10.99% p.a. which is the lowest you can find. Alternatively, the ANZ Low Rate MasterCard offers 0% p.a. on balance transfers for 6 months, and 0% p.a. for 3 months (reverts to 13.24% p.a.) on purchases after that, so this could be the best balance transfer card if your debt can be repaid within six months. If your debt is larger, and your income fits the eligibility criteria, then the best balance transfer credit card might be the Citibank Emirates card, offering 0% for 7 months on balance transfers, and access to the Skywards Miles reward program. The Citibank Clear Platinum is one of the best credit cards in the platinum range as it combines a low interest rate with a reasonable fee, plus the usual platinum perks.
Remember that you can only find the best credit card by comparing what’s on offer. This sounds obvious, but in a recent survey only 6% of people polled reported that they visited a credit card comparison website when choosing a credit card, even though the most important factor to most people polled was finding the best deal. You can see the logic there does not stack up. To know the best credit card, you must know what there is to choose from.
Editors Choice: Featured Credit Card Deals
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Cash Advance Rate (p.a.) | ||
|---|---|---|---|---|---|
 Westpac 55 Day Credit Card | 0% for 5 months (reverts to 19.59% ) | 3.99% for 6 months | $0 | 21.49% |
|
 Citibank Clear Platinum Card | 11.99% | 2.9% for 12 months | $99 | 21.74% |
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