Providers are upping their game ahead of the Christmas shopping season with the Mozo database seeing a range of inviting changes to existing credit card products over the past few days.
The incentives include new cashback offers, extensions to 0% balance transfer periods, cuts to purchase rates and special bonus point offerings from no less than five credit card providers.
“Credit card providers might be looking to entice customers with these special offers, ahead of the festive season,” said Mozo Director, Kirsty Lamont.
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“This time of year represents a good chance for Aussies to nab a deal on their new credit card, but which one you choose really does depend on what you plan on using the card for. Make sure you consider not only the freebies on offer, but whether the card is a good choice for you in general,” said Lamont.
Find out who have headlined the most recent changes and what is now on offer:
1. Bonus point offering
If you’re after a quick way to accrue some serious points, ANZ have upped the bonus point offer for holders of its Frequent Flyer Platinum Card. Travel lovers can now earn a whopping 65,000 Qantas Points simply by spending $2,500 on the card within the first three months.
2. Exclusive membership
Spend a lot of money on wine, especially heading into the festive season? Yesterday saw Mozo’s Provider of the Year, American Express add a completely new feature to its Experts Choice winning Qantas Ultimate Card - complimentary Qantas epiQure Premium Membership.
Choose from a range of boutique wines and produce that won’t just taste great but will also earn you bonus Qantas Points.
3. Budget savvy
If you’re after something a little less extravagant, then the newly renamed Bank of us has made some fresh and frugal alterations to its Visa Credit Card. The changes include waiving the $39 annual fee in the first year and a three basis point cut to its purchase rate which now sits at a low 9.99%.
4. Cashback offer
Australia’s biggest banks have also been getting in on the action with Commonwealth Bank making an attractive cashback offer across its Low Rate and Low Rate Gold credit cards. If you want to earn a smooth $300 back on your purchases, you’ll have to apply for the card before the 4th of February 2018 and spend $1,000 within 90 days of the card being activated.
5. Balance transfer offer
If you’ve got existing debt on your current credit card but are looking to make the switch, HSBC recently extended the 0% balance transfer period from 6 to 12 months on its Platinum Qantas Credit Card. This means that you will have a whole year to pay off the debt you’ve moved across from your old card before you start paying the pricey 21.99% cash advance rate.
Nothing here that takes your fancy? Check out Mozo’s dedicated credit card comparison tables to compare a range of products and their features before deciding which piece of plastic is best for you.