Dollar Saver Tip #1
Switching to a low rate credit card could save you $124 in a year if you're paying off $2,000.
Sarah here, one of Finder's in-house money experts. The average standard credit card interest rate is 19.94%, reports the RBA, but you can get a much cheaper deal.
As an example, someone paying $2,000 off a card over a year could save around $124 by getting a low rate credit card. That's based on the difference in interest charges between the average 19.94% interest rate and a low 8.99% interest rate.
Did you know?
The RBA says the average credit card interest rate has hovered around 20% since 2019.
For context: if you don't repay your credit card balance in full each month and you're paying 20% interest, that adds a big premium to every purchase you make.
See how much interest you could avoid paying with Finder's comparison tables, which can calculate the potential savings for different credit cards. If you find a card you like, you can click through to apply straight away.