Reward credit cards have become very popular over recent years, offering anything from flights, to points which can be exchanged for all types of goods and services.

So when is a rewards credit card a bad choice?

Basically, most rewards credit cards tend to have a higher interest rate. If you are the type of person who pays off their balance in full each month, then this will not worry you. However, if you are the type of person who uses your credit card and racks up a balance, only to pay the minimum payment, then a rewards credit card may not be the smartest choice.

Whilst you will certainly be getting reward points for spending on your credit card, you will most likely be paying for the rewards in high interest payments.

To be sure you are benefiting from your rewards credit card, follow these simple steps.

Step 1: Check how much your interest charges have been over the last 12 month period.

Step 2: Check how many reward points you have earned over the last 12 months.

Step 3: Convert your reward points into a dollar value so you can compare with your interest charges.

Step 4: If your interest charges exceed the value of reward points (in dollar value), then you clearly would be better off switching your rewards credit card to a low rate credit card.

For your convenience, we have listed below the top offers for both rewards credit cards and low rate credit cards.

Reward Credit Cards	Low Rate Credit Cards
Commonwealth Bank Awards Credit Card More Details	St. George Vertigo Mastercard More Details

For more great reward credit cards click here – Reward Credit Cards

For more great low rate credit cards click here – Low Rate Credit Cards

Credit card comparison is an easy way to make sure you’re getting the best credit card deals.

Our handy online credit card calculator can provide you with the help you need. It makes it clear to see where you are headed and the difference even $20 per week extra can make to your balance.

Check out your existing card and compare it with the best deals on the market. Credit card comparison is a great way to make sure you’re getting the best from your credit card. Remember, the people who are most sucessful at clearing their debts are the ones who set goals.

We use credit cards on a daily basis and it’s hard to imagine life without them now. Credit cards have provided such a convenience. Remember the days of going to the bank on Friday’s to make sure you have enough cash to see you through the weekend? What a smooth transition the credit card has made into our everyday lives. However, if not used wisely, credit card can be get some people into trouble, leading to huge debts and despair.

The following tips will provide you with the basic points for using your credit card to it’s full advantage and to minimise interest charges.

1) Need a Loan? Why not consider a low interest Credit Card
Some credit low rate credit cards now have such competitive interest rates, that it is worth considering instead of a personal loan. You also avoid the application hassles of a personal loan. If you have a good credit rating you will have no problem being approved for a good sized credit limit.

2) Pay your bills on time to establish a good credit rating
By avoiding late payments and staying within your credit limits, you will establish a good credit rating. This will enable you to apply for great credit card deals and will enable you to access credit in the future without a problem.

3) Protection for large purchases
When purchasing large items on your credit card, may are covered by warranty. Some credit card companies automatically extend the usual warranties when purchasing large items on their credit cards.

Most importantly, make sure that the credit cards you do have are right for you and your lifestyle. If you pay your balance off regularly each month you should be looking at a good rewards credit card. On the other hand if you have trouble keeping up with payments, a good low rate credit card it a smart choice to minimise interest charges.

If you are unsure, it is best to compare credit cards to find the best deals.

This card is great for anyone who has a large Credit Card debt and still needs to make regular purchases. If you can transfer you existing balance and use the six months to get your balance down you can save hundreds of dollars in intrest charges. It also offers 55 days intrest free on purchases. We highly recommend this card to anyone looking for a competitive Credit Card deal. Visit Credit Cards Compare – HSBC for more information on this great deal and start saving today.

For other great deals from other providers visit Credit Card Comparison today.

Start saving money for more important things.

Today’s market has seen Credit Card providers offering all sorts of incentives to apply for their Credit Card. This competition for your business has provided us with many great deals, but can also be overwhelming with all the different cards available.

There are several important factors to consider when deciding which Credit Card is best for you:

Age
• Credit Ranking
• Spending needs and habits
• Income
• Special Interests

Before you choose a credit card, you need to ask yourself a few important questions about how you will use the card. By understanding some important factors, you should be able to find the right card to suit your needs. By selecting the right card, you can save hundreds, and maybe even thousands, of dollars.

The main things to consider are: What is the interest rate? Does it have an Annual Fee and if so, how much? Does it offer interest free days on purchases? Does it have a different rate for balance transfers? How long does the reduced balance transfer rate apply for? Are there any reward programs with the Credit Card?

Interest Rate: Probably, the most important aspect when choosing a credit card is to determine if you plan to pay the card off each month before any interest is charged, or if you use the credit card as a source of credit and pay it off gradually.

If you are the latter, a credit card which offers a low interest rate is best for you. If your monthly balance is $2000, and are paying 18% compared with a card that charges only 6.99%, this is equivalent to a saving of $220 per year! Many companies now offer Credit Cards with interest rates as low as 5.99%, whilst some are as high as 19%. There are some great offers currently for

low interest rate Credit Cards.

However, if you are a person who pays off the balance before the due date, then the number of interest free days if a more important factor to consider than the interest rate.

Annual Fee: The next important factor to consider is the Annual Fee. There are Credit Cards now which offer no annual fee at all, whilst some can be hundreds of dollars. Some providers choose to waive the annual fee for the first year as an enticement to new customers. But be careful, as quite often, cards with no annual fee can sometimes have a higher interest rate.

Balance Transfers: In a bid to try and get your business many providers now offer great deals for balance transfers. Some offer 0% interest on balance transfers for specified time periods. Some even offer this for the life of the balance. If you have a large credit card debt on a high interest card, you can save you hundreds of dollars in interest payments by transferring to a card offering 0% or even low interest balance transfers.

Rewards: If you do most of your spending using your credit card and regularly pay it off each month then you should consider the benefits from a credit card offering a rewards program. Often rewards credit cards have higher interest rates or annual fees than other types of credit cards. However, interest rates are not important so long you pay the bill each month and the rewards could well exceed the card fee. Rewards Programs offer many things including Flybuys, frequent flyer and extra points can be earned by paying for everyday items including groceries, bills and even your rent.
One last important thing to consider is Late payment penalties. When evaluating which credit card is right for you, it is important to consider late payment penalties. If a late fee is charged, what is it? Some providers can more than double your interest charges if you pay late even by one day. It is definitely something to take into consideration.

To find our more visit: Credit Cards Australia