What to consider when applying for a credit card

Credit cards are a highly sought after commodity- they provide convenience and spending freedom, allow you to manage your funds and are one of the most widely accepted means of tender around the world. Access to the best credit cards is also becoming increasingly simple with quick and convenient online credit card applications and approvals.

But all credit card providers and credit cards are different- some offer low interest rates, some have great reward programs and others offer interest FREE periods and other benefits. So, before you complete any credit card application you must ensure you choose the right card to maximise your personal benefits and minimise any unnecessary fees and charges.

Before choosing a credit card provider and completing an online credit card application, be sure to consider the following questions:

• What is the main purpose I will use this credit card for?
• How many credit cards do I already have? Can I manage another one?
• What will my spending limit be?
• What is the interest rate?
• Is there an interest free period?
• What are the annual/ ongoing fees?
• Do I need/ want rewards program?
• What are the most important features I’m looking for in a credit card?

My Credit Card Application Checklist:
Tick the boxes of the features you want in a credit card. Before completing your credit card application, ensure that the card you choose offers most or all of the features you are looking for:

1. Low Interest Rate (if you are unlikely to stay on top of repayments)
2. Medium Interest Rate (if you are more likely to stay on top of repayments)
3. Interest Free Period
4. Low Balance Transfer
5. Gold Card
6. Platinum Card
7. No annual fee (this limits the benefits and rewards available)
8. Low annual fee
9. Frequent Flyer Rewards
10. Entertainment rewards
11. Choice of rewards
12. No rewards
13. Additional cards
14. Debit facility

At creditcardapplication.com.au we help you choose the best credit cards with easy to understand comparisons.

Some highly popular credit card providers are:

• Aussie
• ANZ
• Commonwealth
• St George