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A Credit Card
August 26th, 2011 | 
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There is no denying that credit cards are a godsend in todays technological day and age. A credit card is great for online purchases, movie tickets and heaps more. Furthermore, most credit cards come with a reward system where you can be either rewarded for using the credit card, or rewarded for paying the money back. Either way, its a win-win situation. However, there are several Australians out there who are still a little weary about getting on the credit card bandwagon.
One of the best options for those who are weary of getting a credit card is an introductory card. Many introductory credit cards have low interest and low annuals fees which mean you can test drive a credit card without worrying about crashing into debt.
Criteria for Credit Card Beginners – Low Interest Rates and More
When searching for a credit card, you need to be aware of the following:
Interest rate- the lower the better, such as Aussie MasterCard (9.99%) and Bankwest Lite (10.75%). Balance transfers- if you want to consolidate your debt. 0% interest on balance transfers is essential. Check out Citibank Platinum and St George Vertigo. Annual fee- your annual fee is usually directly related to the rewards and options of your credit card. For those just starting out with a credit card, a low annual fee card such as AMEX Sky Blue, is probably best.Interest free days- these are the days you have to pay your latest purchases before incurring interest. Or most of us, the more interest free days, the better. Finally, look into the rewards point system. Think about what you like to spend your free money on in regards to what each credit card offers. Some cards, like the Woolworths Everyday Card is great for shopping discounts while other cards, such as the AMEX Qantas are great to those who love to travel.
And this is how you can successfully have a low interest credit card.
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