Australian Credit Cards For 2008

May 25 2008

2008 will see a big change in the credit card industry with a push towards low interest rates and balance transfer offers . At the moment the big banks are making a push to get your business and today we are seeing better value credit card deals that are saving consumers big money in repayments. On further investigation we can say that 2008 is the year for people to keep their eyes open for that greener pasture and take advantage of this new era in credit cards.

Lower Interest Credit Cards - In the past it was not uncommon to see credit card interest rates between 15-20% for a standard credit card with no rewards program. 2008 brings see's a change in the guard with credit cards from 9.95% (St George Vertigo ), 11.24% (Aussie Mastercard ), 11.99% (NAB Low Rate ), 12.49% (HSBC Low Rate ), 12.39% (Commonwealth Bank Low Rate ) and 12.99% (ANZ Low Rate ). As we can see the low interest rates offered in 2008 are the cheapest deals ever seen within the credit card industry. So if you are in the market for a credit card then shop around for the best rate and be sure to read the fine print for more details.

Transfer Your Current Credit Card Balance - Not only are credit cards offering lower interest rates but in a bid to get your business credit card companies are giving low balance transfer specials. If you are currently paying a high interest rate on your current credit card then a balance transfer offer can save you big time on your current repayments. Balance transfers will save you money if you can pay off the balance you transfer within the period of time that the credit card company is offering. For example a popular balance transfer offer from the big credit card organizations is a 0% balance transfer rate for a period of 6 months. This is seen with the HSBC Low Rate, St George Vertigo Mastercard , NAB Low Rate Visa Card , ANZ Balance Credit Card and Aussie Mastercard . Be careful when signing up for a transfer balance deal as if you do not pay off the balance in the stated period of time the interest rate will rise significantly depending on the offering company.

Rewards and Frequent Flyer Credit Cards - Along with better deals in balance transfers and low interest rates there has been a significant improvement in rewards programs offered by the big credit card companies. 2008 will see the introduction of the

ANZ Balance credit card that gives you the option of cashing in your rewards credit on shopping, cash back or gift cards. Another exciting rewards credit card comes from Citibank with the BP Mastercard offer. This credit card gives you 5% off your fuel bill at B.P along with 1% off anything you spend elsewhere. Frequent flyer programs have shown improvement in 2008 as is seen with the ANZ Frequent Flyer and NAB Velocity credit card offers that give you a competitive rate on airline bonus points.

As you can see 2008 gives consumers many options when it comes to applying for a credit card. What ever you are looking for you can find as long as you shop around and compare the variables of each credit card offer.