man sitting with a laptop while looking at his credit card

What Is The Ideal Credit Card For Me?

Finding the ideal credit card

The ideal credit card for you is going to be one that meets all of your needs and has everything you want all packed into one credit card. Once you have determined what you are looking for in a card, you can start doing a comparison to find the right card.

If you spend a little time doing a credit card comparison you're sure to find the ideal credit card for you. It may take a little bit of digging, but the time is well spent since you will probably have this card for many years.

What to consider what finding the ideal credit card

Look for a card with a low interest rate on purchases

A low interest credit card is always a positive feature of a credit card. If rewards are not of great importance to you, you can find a good no frills low rate credit card between 10%-13%.
Comparison of Low Interest Rate Credit Cards

Can you make the payments?

Finding the ideal credit card for you involves being honest and deciding if you're going to be able to meet your monthly payment obligations regularly. It is easy to say that you will before you get your credit card, but if you have had a problem paying bills on time in the past, it is ideal to address this at the beginning and be completely honest about it.

If you think there are going to be times when you have to carry over a balance from one month to the next you should look for a card with a low interest rate on purchases. This way, you can do your best to make all the payments in full but if you make a mistake one month and can't pay it you won't be stuck paying an enormous interest rate.

St.George Vertigo Visa

0% p.a. for 18 months on balance transfers
with a one-time 2% balance transfer fee

Offer ends 22 November 2017

Eligibility criteria, terms and conditions, fees and charges apply

St.George Credit Card Offer

The St.George Vertigo Visa offers a low ongoing rate on purchases, a long-term promotional rate on balance transfers and a competitive annual fee.

  • $55 p.a. annual fee.
  • 13.24% p.a. on purchases
  • 0.00% p.a. for 18 months with 2% BT fee on balance transfers
  • Cash advance rate of 21.49% p.a.
  • Up to 55 days interest free
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Understanding

You need to make sure that you understand everything that is being offered with the card. Read all the small print and go over it a few times. If you don't know what all the terms such as APR and grace period mean you should find out. Sometimes they are explained on the credit card agreement, but if you can't find them there contact the credit card provider before making a final decision.

You should also clear up your understanding on the following terms when you are searching for the ideal card.

  • Cash advance interest rates
  • Annual fee
  • Penalties
  • Fees for going over the limit
  • Charges for late payments
  • How interest rates can be changed
  • Anything else that you do not fully understand

Cash advances can be very draining on a credit card since the fees and interest rates are very high. Don't count on using your credit card to get money out of the ATM every time you need it. Have a debit card at your disposal to withdraw cash at these times.

Annual fees

The ideal card for you may not be one without an annual fee. If you are going to be carrying over a balance for a month or two you may want to get a card with an annual fee since the interest rate on these cards is usually much lower than cards without this fee.
Comparison of No Annual Fee Credit Cards

Interest rates

It is the same for cards with low interest rates. If you don't plan on using your card too often and want to have it for emergencies only then it doesn't make sense to pay a high annual fee to save on interest rates. If you don't have to use it for an emergency situation, why pay an annual fee when you haven't even used the card?

Rewards

If you get a rewards card you may have to pay extra for other features and benefits. There may be a higher annual fee, interest-rate or both. It may seem like a good deal at first, but it may not be the ideal card for you. If you are looking for a rewards card make sure that you check out the features available and whether it will cost you more to own the card than the benefits you get out of it.

If you follow the suggestions listed above you will be able to find your ideal credit card much easier. There is a card that is out there just waiting for you to claim it, and all you have to do is look for it.

Comparison of Rewards Credit Cards

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6 Responses

  1. Default Gravatar
    melindaOctober 16, 2016

    I am looking at getting a credit card and I want to know what card would best suit me.

    • Staff
      JasonOctober 19, 2016Staff

      Hi Melinda.

      Thank you for your inquiry.

      It’s always useful when choosing a credit card to consider the purpose of the credit card and to factor in how you will use it and how these tie into your financial situation. Unfortunately, we can’t recommend specific cards, however, we can help with guiding you through the process of comparing. Please check out this link to compare and select the credit card that would fit your needs. Alternatively, you can also check out this link for a comprehensive list of credit cards for various purposes.

      I hope this helps.

      Cheers,
      Jason

  2. Default Gravatar
    unknownAugust 4, 2015

    Trying to find best credit card for me. Current balance of $10000. Paying off approx $3000 per month but adding approx $2000 per month. Currently paying interest of approx $150 per month.

    • Staff
      SallyAugust 5, 2015Staff

      Hi unknown,

      Thanks for your inquiry.

      Please note that finder.com.au is an online comparison service and is not in a position to recommend specific products, providers and services.

      For a list of credit cards, you may want to compare from this page. You may also wish to look at our balance transfer credit card comparison.

      I hope this has helped.

      Cheers,

      Sally

  3. Default Gravatar
    ashwaniFebruary 22, 2015

    Hy i am an international student and i am earning good so which credit card i can apply for?

    • Staff
      JonathanFebruary 23, 2015Staff

      Hi Ashwani, thanks for your inquiry!

      Unfortunately credit cards in Australia require permanent residency status and/ or a Working Visa requirement. For a list of student banking accounts which include international students please see this page. Debit card facilities are also available with these accounts, and often include no account fees while you’re student and allow the transfer of balances from your overseas account.

      Cheers,

      Jonathan

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