Credit Card Comparison Guide Credit cards are almost necessary these days to rent an auto, shop online or simply for safety’s sake while on holiday. However, it is also very important to get a good rate and the features you want or you may end up spending a lot more in fees, or in interest or extras, you do not need or want. That is why comparing credit cards are vital. However sometimes people who shop for credit cards still do not get the best rates or the features they feel are important. Although they did shop, it is often hard to compare features particularly if they are buried in the terms and conditions. Before choosing a credit card, the shopper should first decide what particulars are important to them. Just as an example in this article will examine some of the more popular, no annual fee cards in Australia, and do a mini credit card comparison. No annual fee cards are a money saver for some because annual fees can be inconvenient and annoying as well however sometimes the annual fee is worth paying for the other features. Usually companies, which offer no annual fee cards, also have a higher rate of interest. For example: The AMZ Visa has no annual fee for one year then changes to a $30.00 year fee the interest rate is 18.99% and 20.74% cash advance interest rate, however it has 44 interest free days. AMEX offers no annual fee and a 19.99% interest rate with a 19.99% cash advance rate and offers 44 interest free days. HSBC Visa has a 16.99% interest rate on purchases and a 20.75% rate on cash advances there is a 55-day interest free period. A consumer considering a no annual fee card should also consider if they usually have a balance on their credit card. The interest rates could be more than a simple annual fee if they carry a larger balance. In addition, cash advances may begin to draw interest with no grace period. The comparison shopper should read the terms carefully if they often draw cash advances with their credit cards. People who carry a balance are often wise to shop instead for a low interest rate card. Most of these will have an annual fee but the savings in interest can more than make up for the small fee paid. However low interest rates may not be all there is to consider when it comes to choosing a credit card for the person with larger credit card debts. If the individual has a debt, they would like to pay off quickly then searching for a credit card with a balance transfer offer may be the best choice. Balance transfers can be beneficial if the consumer believes they will able to pay off the debt before the introductory period expires. If not then perhaps the low interest rate card is the best choice. There is always more than one thing to consider comparing credit cards and one of the primary factors is the person is spending habits and current level of credit card debt. Higher rates in exchange for no annual fee might be a winning situation for some customers, and for others it could be a situation where they pay more in the end.
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