Credit cards are staging a come-back in 2021, with a wave of fresh new card offers hitting the market that at first glance seem almost too generous to be true. But there’s a bigger story driving this wave of apparent generosity, and it’s one that cardholders are set to benefit from.
After years of declining rewards, steep fees and charges, and even steeper competition from new payment options like debit cards and buy now pay later, credit card providers are now being forced to reverse the trend and deliver real consumer value to combat competition from the likes of Afterpay and Zip.
As a result we’re now seeing interest-free days extend out to as much as 110 days, purchase rates fall below 12% and annual fees on some low rate cards drop below $50. On the perks front, new Westpac cardholders can earn $400 cashback by spending $4,000 on eligible purchases in the first 120 days after card approval, while the new PayPal rewards card gives you points to spend at over 750,000 PayPal eligible businesses.
So no matter whether you’re looking to clear your debt with a 0% balance transfer, save on interest and fees or get better value out of your rewards, now is an ideal time to check out some of the top credit card offers on the market.