Managing your Christmas Debt in 2017

Piggy-Bank-at-Christmas

Don't let 12 days of Christmas spending turn into a 12-month debt hangover

A New Year means a fresh start for many, but it's hard to wipe the slate clean with a credit card bill looming. Are you worried about what you spent over the silly season, and how you're going to manage your finances in the New Year? No matter what you spent over the Christmas period, there are ways to manage your debt and get your finances under control. Start the New Year the right way and unlike the mistletoe, don't let your debt hang over your head.

What options do you have to manage your Christmas debt?

There are a few options available to pay down the spending you made over the holiday period. Below we highlight balance transfers with a credit card, or consolidating debt through a personal loan.

Getting rid of interest with a balance transfer credit card

A balance transfer credit card can help you pay off an existing card and even loan debts that have accumulated. You can enjoy interest rates as low as 0% p.a. for a set period of time, helping you to save money while you pay down your debt, or in this case - quite possibly your Christmas debt. These cards allow you to bring over an existing balance from one or more credit or store card accounts for up to 24 months (or longer on some cards). Considering longer periods can translate into more time to pay down your debt while saving on interest.

Balance transfer credit card comparison

Rates last updated August 24th, 2019
$
% p.a.

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Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
Virgin Australia Velocity Flyer Card - Annual Fee Offer
0% p.a. for 18 months
20.74% p.a.
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Citi Clear Platinum Credit Card
0% p.a. for 14 months
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
HSBC Platinum Credit Card - Balance Transfer Offer
0% p.a. for 22 months
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Citi Rewards Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months
0% for 13 months, reverts to 20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
St.George Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.
ANZ Low Rate
0% p.a. for 15 months
12.49% p.a.
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
Bendigo Bank Low Rate Mastercard
0% p.a. for 18 months with 2% balance transfer fee
11.99% p.a.
$45 p.a.
Take advantage of 0% p.a. for 18 months on balance transfers, plus a low variable purchase interest rate of 11.99% p.a. on purchases.
Citi Rewards Platinum Credit Card - Balance Transfer Offer
0% p.a. for 26 months with 1.5% balance transfer fee
20.99% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus $0 first year annual fee.
BOQ Low Rate Visa Credit Card
0% p.a. for 14 months
13.49% p.a.
$55 p.a.
A no-frills card offering 0% on balance transfers for the first 14 months with no balance transfer fee. Plus, a competitive purchase interest rate.
St.George Vertigo Classic
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
BOQ Platinum Visa Credit Card
0% p.a. for 12 months
20.74% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 1,000 bonus Q Rewards points monthly when you meet the spend requirement, a 12-month balance transfer offer and $0 first year annual fee.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 20 months
20.74% p.a.
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Finder Exclusive ends 31 August 2019:
Save with a 0% balance transfer offer and a $49 first year annual fee when you apply online.
HSBC Platinum Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$129 p.a.
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Get a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and a 14-month balance transfer.
ANZ First Visa Credit Card
0% p.a. for 18 months with 2% balance transfer fee
20.24% p.a.
$30 p.a.
Get up to 18 months interest-free on balance transfers and save with a low $30 annual fee. Plus, up to 55 days interest-free on purchases.
Westpac Low Rate Card
2019 Winner
Westpac Low Rate Card
0% p.a. for 16 months
13.74% p.a.
$59 p.a.
A no frills, low rate card offering 0% p.a. interest on balance transfers for the first 16 months, with no balance transfer fee.
St.George Vertigo Classic - Exclusive Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
Bank of Melbourne Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. balance transfer rate for 18 months, a reduced annual fee for the first year and complimentary travel insurance.
Qantas Premier Everyday
0% p.a. for 12 months
19.99% p.a.
$29 p.a. annual fee for the first year ($49 p.a. thereafter)
Get up to 42,000 bonus Qantas Points (7,000/month) when you spend $1,000/month for the first 6 months. Plus, complimentary insurance covers.

Compare up to 4 providers

Benefits of balance transfer cards
  • Pay down an existing debt and save money on interest
  • Consolidating multiple credit card accounts and other debts into one can help improve your credit rating
  • Some balance transfer cards offer great features such as rewards programs, low purchase rates and no annual fees

Some things to keep in mind

  • The revert interest rate on these cards tends to be quite high
  • The annual fees can outweigh any cost savings depending on the size of your debt and length of the balance transfer period
  • You will likely lose interest-free days on new purchases because of the balance transfer debt on the card
  • You usually cannot take up your entire credit limit with the balance transfer, typically only 80-95%
Learning more about transferring your existing credit card balances

Personal loans can offer longer terms with even more competitive rates

A debt consolidation loan is another available option. These loans do not offer 0% p.a. periods, but let you pay off your debt at competitive rates over a longer term.

Debt Consolidation Personal Loans Comparison

Updated August 24th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
8.99% (fixed)
9.13%
$5,000
2 to 5 years
$100
$0
You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.
From 8.95% (fixed)
10.56%
$5,000
18 months to 7 years
$495 (Based on $10,000)
$13
You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required.
9.89% (fixed)
10.14%
$5,000
1 to 7 years
$175
$0
You'll receive a fixed rate of 9.89% p.a.
An unsecured loan from $5,000 with flexible repayments and no monthly fee.
From 5.99% (variable)
7.55%
$5,000
1 to 7 years
from 2% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.99% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
From 6.99% (fixed)
7.69%
$5,000
3 to 5 years
$500 (Upfront fee)
$0
You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.
9.99% (fixed)
11.22%
$20,000
1 to 7 years
$250
$13
You'll receive a fixed rate of 9.99% p.a.
A secured or unsecured loan available to homeowners with a large minimum borrowing amount of $20,000. Benefit from flexible repayments and fast approval.
From 5.85% (variable)
7.84%
$2,001
6 months to 5 years
$299
$0
You'll receive a variable rate from 5.85% p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.
From 10.69% (fixed)
11.58%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
12.99% (fixed)
14.14%
$4,000
1 to 7 years
$0 ($250 establishment fee waived)
$12
You'll receive a fixed rate of 12.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
From 12.99% (fixed)
14.06%
$2,000
1 to 5 years
$0 ($195 establishment fee waived)
$12
You'll receive a fixed rate between 12.99% p.a. and 18.9% p.a. based on your risk profile
A low minimum borrowing amount of $2,000 to fund a range of purposes. Note: Establishment fee will be waived if you apply and are approved before 30 September 2019.
From 13.99% (fixed)
15.19%
$3,000
1 to 7 years
$250 (Loans under $5000 - $140)
$13
You'll receive a fixed rate between 13.99% p.a. and 29.99% p.a. based on your risk profile
Apply for what you need from $3,000 and use it for a range of purposes. Flexible repayments options.
From 7.93% (fixed)
8.77%
$1,000
1 to 5 years
$500 (from $100 to $500)
$10
You'll receive a fixed rate between 7.93% p.a. and 18.87% p.a. based on your risk profile
An unsecured loan with a low minimum borrowing amount and flexible repayment options.
10.99% (fixed)
12.21%
$20,000
1 to 7 years
$250
$13
You'll receive a fixed rate of 10.99% p.a.
A secured or unsecured loan available to homeowners with a large minimum borrowing amount of $20,000. Benefit from flexible repayments and fast approval.
From 8.05% (fixed)
9.06%
$2,000
1 to 7 years
1.5–6% of your total loan amount
$0
You'll receive a fixed rate from 8.05% p.a. based on your risk profile
A personalised loan from $2,000 to $50,000 that varies based on your credit history and financial situation.
From 12.99% (variable)
16.42%
$3,000
1 to 7 years
$200
$10
You'll receive a variable rate of 12.99% p.a.
Apply for up to $50,000 and benefit from features such as fast approval, free online redraws and no penalties for early repayment.
11.89% (variable)
12.15%
$5,000
1 to 7 years
$175
$0
You'll receive a variable rate of 11.89% p.a.
Borrow from $5,000 with the option for flexible repayments and no monthly fees.
10.89% (variable)
11.15%
$30,000
1 to 7 years
$175
$0
You'll receive a discounted variable rate of 10.89% p.a.
Borrow over $30,000 and receive a discounted interest rate. No monthly fees and a redraw facility also available.
From 10.69% (variable)
11.58%
$5,000
1 to 7 years
$150
$10
You'll receive a variable rate between 10.69% p.a. and 18.69% p.a. ( 11.58% p.a. to 19.53% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes. Benefit from fee-free additional repayments and a redraw facility. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
From 7.88% (variable)
8.72%
$1,000
1 to 7 years
$500 (from $100 to $500)
$10
You'll receive a variable rate between 7.88% p.a. and 18.82% p.a. based on your risk profile
An unsecured loan with flexible repayment options and a low minimum borrowing amount.
From 7.5% (fixed)
9.51%
$5,000
2 to 5 years
$3
$0
You'll receive a fixed rate between 7.5% p.a. and 19.99% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

Compare up to 4 providers

Compare debt consolidation loans

If you're still having doubts on how to tackle your debt then read this

Even if you still have doubts it's okay, at least by now you've acknowledged some of the avenues you can take, and it's time to decide what one will work for you. Managing debt will depend a lot on your situational lifestyle, so it may also help to define the following to help you decide:

  1. How much debt do you have?
    If you're looking at a balance transfer credit card, you'll only be able to bring over a certain portion of your new approved credit limit in the balance transfer, a few cards offer 100% of your credit limit, but it's usually between 80-90%. Depending on your creditworthiness, you may not be approved for a very high credit limit to start out. For a personal loan, you'll have to be approved for the sufficient amount you need to pay off all your debts.
  2. What kind of debts are they?
    Are your debts all on one credit card or are they spread across a few credit cards and a personal loan? The kind of debts you hold matter as to whether you should take out a credit card or loan. Most balance transfer credit cards will not let you balance transfer a personal loan, although a select few lenders will allow a balance transfer from a personal loan, so if you want to do this you will need to ensure that it's possible. Also, some cards have limits on the amount of cards you can bring over a balance from.
  3. How long will it take you to repay the debt?
    The length of time it will take you to repay your debt will be a crucial deciding factor in what kind of product you apply for. A balance transfer credit card will revert to a set interest rate, usually the cash advance rate, following the promotional period, so if you aren't able to fully pay back your debt within that period then you may want to consider a different option. See what monthly repayments will be manageable on your budget to find an option that will work for you.

How to avoid Christmas debt: Tips for next year

Being smart about spending and the use of credit cards over Christmas can help you improve your cash flow around the holidays and beyond. Starting the New Year with bad debt can see you get off to a tough start, so it’s crucial to follow the tips below to minimise what you pay over the Christmas period. First we’ll look at some basic ways of saving money over Christmas, then we’ll show you how to compare credit cards for your Christmas spending, and finally we’ll show you some ways to get out of Christmas debt.

What types of Christmas credit cards are available?

There are no credit cards that are specifically designed for Christmas spending. Rather, you can select a credit card that supports the type of spending you're likely to do around Christmas time. The right card for you will depend on how you use your credit card, the amount of spending you plan on doing with it, and the type of benefits and features you want to receive. Take a look below for some types of credit cards that might be beneficial to consider this festive season:

Low Purchase Rate Credit Cards

0% interest rates on purchases are usually offered for a limited time (often a period of six to 12 months). During this time you can make purchases and pay no interest until the promotional period ends. This gives you the ability to make Christmas purchases and then gradually pay them off interest-free. These cards can still have additional features such as rewards programs, complimentary insurance policies and more, so ensure the annual fees aren't too high compared to the value of these perks. Be sure to know what the interest rate becomes after the promotional ends. It can revert to the purchase rate or the cash advance rate.

0% Purchases Credit Cards

Rates last updated August 24th, 2019
$
Name Product Product Description Purchase rate (p.a.) Balance transfer rate Annual fee Interest Free Period Amount Saved
St.George Vertigo Classic - Exclusive Offer
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
0% for 14 months, reverts to 13.99% p.a.
0% p.a. for 6 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Up to 55 days on purchases
Citi Rewards Platinum Credit Card - Exclusive Offer
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
0% for 13 months, reverts to 20.99% p.a.
0% p.a. for 13 months
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Up to 55 days on purchases
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Enjoy 0% p.a. interest on purchases for 14 months, a reduced first year annual fee and Velocity Points per $1 spent.
0% for 14 months, reverts to 20.74% p.a.
0% p.a. for 6 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Up to 44 days on purchases
Westpac Low Fee Platinum Card
Save with a $0 first year annual fee and a 0% p.a. interest rate for 9 months on purchases with platinum perks.
0% for 9 months, reverts to 20.09% p.a.
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
Up to 55 days on purchases
HSBC Platinum Credit Card
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
0% for 12 months, reverts to 19.99% p.a.
0% p.a. for 12 months
$129 p.a.
Up to 55 days on purchases

Compare up to 4 providers

Low Purchase Rate Credit Cards

Rates last updated August 24th, 2019
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate Product Description
Latitude Low Rate Mastercard
11.99% p.a.
Up to 55 days on purchases
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.
Citi Clear Platinum Credit Card
12.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 14 months
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
St.George Vertigo Classic - Exclusive Offer
0% for 14 months, reverts to 13.99% p.a.
Up to 55 days on purchases
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% p.a. for 6 months
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
Up to 55 days on purchases
$45 p.a.
0% p.a. for 18 months with 2% balance transfer fee
Take advantage of 0% p.a. for 18 months on balance transfers, plus a low variable purchase interest rate of 11.99% p.a. on purchases.
St.George Vertigo Platinum
12.99% p.a.
Up to 55 days on purchases
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
0% p.a. for 18 months
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.

Compare up to 4 providers

About 0% Purchase credit cards

No annual fee credit cards

The standout feature of this type of card is, as you can probably guess, the fact that you aren't charged an annual fee. These cards can either charge no annual fee for the life of the card, or have a waived or discounted annual fee for the first year. Either way, there are savings to be had. With these cards, you should keep the following in mind:

  • How long does 'no annual fee' apply? As mentioned above, the no annual fee offer may not apply to the life of the card, or it might only be available to qualifying customers. Check the details of the offer before you apply to see that you're eligible.
  • Does the card offer competitive rates? While a card with no annual fee can help you save, it can also cost you a lot if it has a high interest rate and you carry a balance. Compare the purchase rate, and balance transfer rate if applicable, to see if the card is a competitive all-round option.
  • What other features does the card offer? No annual fee does not mean 'no features', as these cards sometimes come with lucrative features to supplement your credit card spending. No annual fee cards can come linked to rewards programs, offer bonus points, come with complimentary insurance covers and also balance transfer promotions.
Rates last updated August 24th, 2019
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate Product Description
Latitude 28° Global Platinum Mastercard
$0 p.a.
21.99% p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes, global wifi access and a concierge service.
St.George Vertigo Classic - Exclusive Offer
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
0% for 14 months, reverts to 13.99% p.a.
0% p.a. for 6 months
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
Citi Clear Platinum Credit Card
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
12.99% p.a.
0% p.a. for 14 months
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
St.George No Annual Fee
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Receive up to 55 days interest-free on purchases, a low minimum credit limit of $500 and a long-term balance transfer offer.
HSBC Platinum Qantas Credit Card
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
19.99% p.a.
0% p.a. for 12 months
Save with a $0 first year annual fee and a long-term balance transfer offer. Plus, complimentary travel insurance.

Compare up to 4 providers

Information about no annual fee credit cards

Rewards Credit Cards

A rewards card simply rewards you with points for every dollar worth of eligible purchases you make. It allows you to cash in your rewards points for a range of items and other perks such as free flights, fare upgrades and more. Rewards cards offer many incentives to attract new customers, including bonus points, balance transfer offers and 0% or low purchase rate promotions. They typically have a higher annual fee, but can be a good way to get extra value from your Christmas purchases. You need to make sure you have the self control before you sign up for the rewards. If you spend just to get rewards points you will end up spending more than you can afford to pay off, and the interest you pay on your purchases will cancel out any rewards gifts you may have qualified for. Typically you need to spend above $2,000 a month to earn enough rewards to cancel out the costs of a rewards credit card.

Rates last updated August 24th, 2019
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
Citi Rewards Platinum Credit Card
120,000 bonus points
Citi Rewards Program
1
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Get up to 120,000 bonus rewards Points when you meet the spend requirements. Plus, save with a $49 first year annual fee.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
30,000 bonus points
Velocity Frequent Flyer
0.66
20.74% p.a.
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
St.George Amplify Platinum - Qantas
60,000 bonus points
Qantas Frequent Flyer
0.5
19.74% p.a.
$99 p.a.
Earn 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas points per $1 spent.
ANZ Frequent Flyer Black
100,000 bonus points
Qantas Frequent Flyer
1
20.24% p.a.
$425 p.a.
Earn 100,000 bonus Qantas Points & $200 back when you spend $4,000 in the first 3 months. Plus, airport lounge passes.
NAB Qantas Rewards Signature Card
120,000 bonus points
Qantas Frequent Flyer
1
19.99% p.a.
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect up to 120,000 bonus Qantas Points. Get 90,000 when you spend $3,000 on eligible purchases in the first 60 days and 30,000 after 12 months.

Compare up to 4 providers

Retail Rewards Credit Cards

These are credit cards which have certain shopping benefits or rewards programs in place. They're often store branded, by retailers such as Woolworths, Coles or Myer, and can come with interest-free deals on purchases made at these stores. Like a rewards card, from time to time retail credit cards can also offer 0% or low interest rate promotions as well as balance transfer deals.

Rates last updated August 24th, 2019
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
David Jones American Express Platinum Card
75,000 bonus points
Membership Rewards
1
20.74% p.a.
$295 p.a.
Partner Offer ends 28 August 2019:
For DJ's shoppers and Qantas travellers, get 75,000 bonus Membership Rewards points or 37,500 Qantas Points on eligible spend.
David Jones American Express Platinum Card - Qantas Frequent Flyer
37,500 bonus points
Qantas Frequent Flyer
0.5
20.74% p.a.
$295 p.a.
Fly faster with up to 2 Qantas Points per $1 spent and get complimentary travel insurance when travel is booked on your card. Ends 28 August 2019.
NAB Rewards Business Signature Card
100,000 bonus points
NAB Rewards
1.25
18.50% p.a.
$175 p.a.
Earn 100,000 bonus points when you spend $4,000 on everyday business purchases in the first 60 days of account opening.
BankSA Amplify Signature - Qantas
90,000 bonus points
Qantas Frequent Flyer
0.75
19.74% p.a.
$179 p.a. annual fee for the first year ($279 p.a. thereafter)
Get 90,000 bonus Qantas Points when you spend $4,000 within 90 days. Plus, complimentary lounge passes.

Compare up to 4 providers

About rewards credit cards

Cards with extended warranty offers

Warranty is a guarantee that the product you're buying won't break — and if it does, you'll be able to get a replacement, or at least have it fixed. Credit cards that offer extended warranties essentially extend this guarantee, so you'll be able to enjoy the warranty, and your purchased product, for a longer period of time. So, how does extended warranty work on credit cards?

  • Making your purchase. You need to make the purchase on your credit card, and your credit card needs to offer extended warranty.
  • Claiming your warranty. Proof of your purchase will need to be kept in order to take advantage of the extended warranty offer.
  • Types of purchases covered. Only Australian purchases that offer an expressed Australian warranty will be covered.
  • Limits. You will usually have a limit on the amount you are able to claim within a certain period, usually one year.
  • Maximum time of warranty extension. Credit cards that offer this feature usually only extend the warranty for a maximum period of five years. Be sure to check the terms that your credit card offers.

Compare cards that come with extended warranty

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How do I prepare my finances for Christmas?

The health of your finances will determine how generous Santa will be with your family and friends this year, and which special trimmings make it to the dinner table. If you want it all, follow the tips below. Preparing for Christmas is one thing, but sticking to your budget is tough when the Christmas sales and advertising is in full swing. Here's what you can do to avoid needless overspending over the holiday season.

  • Don't spend too long at the stores while you're shopping as you are more likely to buy something you don't need
  • Shop online and get the cheapest prices you can. Be mindful of credit card surcharges or foreign transaction fees if purchasing from an overseas retailer
  • Remain aware of your credit card balance at all times
  • Have a credit card repayment plan and always aim to pay off your balance in full each month
  • Start buying early so that you don't incur all the costs in December and so you can take advantage of sales when they come
  • Find activities to share which cost no money like a trip to the beach, a BBQ in the park, bushwalking or a picnic, as they will all help keep that budget under control

The ultimate Christmas Gifts Guide

What kind of credit card use should I avoid over Christmas?

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How do I manage my Christmas credit card purchases?

Keep track of your repayments. When you miss a repayment or regularly make your repayments late, you are travelling down the slippery slope to uncontrollable Christmas credit card debt. Missed repayments have a snowball effect, because when you miss a repayment you are charged a late fee and the late fee is added to your balance. Your balance then increases, interest is charged on your balance including your fees so your interest charges increase and you need to pay more each month just to beat the compounding interest, let alone repay your principal balance.

The golden rules to managing your Christmas purchases

Enjoy the holiday season

A little planning can go a long way when it comes to Christmas spending. Put a plan in place, and if you need a Christmas credit card make sure you consider all options in your comparison. This way you can enjoy, rather than worry about the holiday season. About Shopping and Holiday Spending

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Credit Cards Comparison

Rates last updated August 24th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

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* 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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