Low rate You can carry a balance while saving on interest costs.
Low fee Get access to credit with minimal or no annual fees.
Five money-saving credit card tips
If you have more than one card, make payments towards your highest-interest balance first.
Close and cut up any credit cards you're not using to reduce your temptation to spend.
Consider transferring your existing debt to a 0% balance transfer card to save on interest.
Forget about rewards and frequent flyer points until you can pay your balance in full every month.
Don't be loyal to your bank because there may be better deals elsewhere on the market.
Balance transfer cards explained in one minute
How do low interest rate credit cards work?
How do you choose the best credit card for you?
Three money-saving credit card types
Balance transfers.For paying off an existing credit card debt. A balance transfer offers you a low or 0% interest rate on any transferred balance for an introductory period (usually 6-18 months). If used as intended, this allows you to move your existing credit card debt onto a new card and pay it off without interest charges.
Low rate.For financing purchases without paying exorbitant interest. Low-rate credit cards charge a relatively low interest rate (8.99-13.99% p.a.) compared to other cards. These allow you to carry a balance from month to month, partially paying off purchases over time.
Low fee.For low-cost access to credit. Low-fee credit cards give you access to credit with low or no annual fee. They often come with a relatively high rate of interest, but if you pay off the balance every month, it could enable you to have a credit card that costs you nothing to own.
Top credit card offers
The Coles No Annual Fee Mastercard offers $0 annual fee for life. You can also save when repaying debt with 0% interest on balance transfers for the first 18 months with a one-time 1.5% balance transfer fee when you apply by 30 April 2020.
Use the calculator below to determine how long it will take you to pay off your balance based on how much you're currently paying. Alternatively, you can calculate how much you'd need to pay each month to meet your financial goals.
* Disclaimer: While every effort has been made to ensure the accuracy of this calculator, the results should be used as a guide only. They are neither an offer nor a pre-approval for a credit card.
Alanna Glenn is the publisher for credit scores and the assistant publisher for credit cards at Finder. She has an Honours Bachelor of Commerce from McMaster University in Canada and likes to get into the nitty gritty of all things financial and legal. Outside of the office you can find her doing yoga or petting other people's dogs.
* The credit card offers compared on this page are chosen from a range of credit
cards finder.com.au has access to track details from and is not representative
of all the products available in the market. Products are displayed in no particular
order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are
subject to our disclaimer.
You should consider seeking independent financial advice and consider your own
personal financial circumstances when comparing cards.
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