Choosing a credit card

 

Would you like to get the best value from your credit card?

Credit cards allow you to make purchases when you need and delay using your own funds until it is convenient to do so. Choosing the right card and managing it wisely will help you limit the interest you pay and keep your balance in check.

Here we share a few tips to help you make the most of your credit card:

Start with the right card
Having a well-managed credit card begins with choosing the right one. There are many cards on the market, each offering their own incentives such as rewards, low interest rates or low fees. Consider how you will be using the card and choose the product accordingly. There is no point in paying for features that are not benefitting you.

Consider a balance transfer
Is it time for an upgrade? If you are no longer happy with the terms of your current card, a balance transfer allows you to transfer your debt onto a new card with better interest rates or greater flexibility. A balance transfer can be a great way to manage your credit card debt. Before going ahead, check that the new card offers a low rate for balance transfers, like both our Visa Platinum and Visa Classic Credit Cards.

Make the most of your interest free period
Many credit card providers grant you a limited interest free period on purchases. This means that for the designated time you will pay no interest on your purchases, so long as you pay off your closing balance in full by the due date. Earlier in the interest free period is a great time to make large purchases and pay them off over the coming weeks. Both of our credit cards offer up to 55 days interest free on purchases.

Cut down on interest charges
The interest free period is not the only time that being proactive with repayments matters. Cutting down the interest you pay over the life of the card can often just be a matter of making timely repayments. Try to pay the full amount back each month to prevent the buildup of interest over time; setting up an automatic funds transfer or salary credit to the credit card can help with this.

Take advantage of the low interest rates and flexible terms on our Visa Credit Cards. Our consultants can help you arrange a card and transfer your balance on 1300 654 822.