Credit card news and advice

All the latest credit card news and top tips to help you manage your credit card.

No annual fee vs low interest credit card which is better

No annual fee vs Low interest credit card, which is better?

Credit cards come in all shapes and sizes and if you’ve decided to pick one up for yourself, you might have already started comparing your options. If you like to keep your spending on the frugal side and have ruled out a rewards card, you could be tossing up between a low rate or no annual fee credit card.While both are budget-friendly choices, the type of spender you are can help determine which is the better pick for you. So if you’d like to find out the difference between a low rate and a no annual fee credit card, check out our explainer below.

Aussies could save a 2 1 billion by switching credit cards

Aussies could save a $2.1 billion by switching credit cards

If you’ve been looking for a sign to downgrade your high interest credit card, this is it. According to the latest Mozo research, if Aussies switched their high rate plastic to the market leading low rate card, we’d collectively have an annual saving of $2.1 billion or or an annual saving of $570* per cardholder! We found that the highest credit card interest rate in the Mozo database clocks in at a whopping 24.99%, 17.50% higher than the lowest credit card rate on the market. Mozo Director Kirsty Lamont believes now has never been a better time to make the switch, as many high rates come with rewards and perks that are out of the question until further notice. “At a time when travel linked rewards on high interest rate credit cards largely grounded due to the pandemic, getting value through this premium card category has become more challenging,” she said.

Australia’s best credit cards 2020

Australia’s best credit cards 2020

Whether you love a low rate, minimal fees, rewards or need to clear your debt with a balance transfer, we’ve got you covered for this year’s best credit cards.

Credit cards in 2020 a report into choosing the right card for your needs

Credit Cards in 2020: A report into choosing the right card for your needs

While credit cards can help with immediate expenses, they require careful consideration in the bigger picture. This is especially so in uncertain times, like those presented to us in 2020. Recent Mozo research shows that consumers are not unanimous about credit cards right now either. For example, 14% of people we surveyed mid-year said they were getting a new credit card, 12% said they were upping their existing credit limit, while 11% said they were cancelling all lines of credit. A further 19% said they are using buy now pay later services to get by instead.

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5 credit card tips everyone should know

For a lot of us, our credit cards play an important part in our everyday spending. But like any other form of credit there are a few things to keep an eye on, including fees and interest. So whether you’ve decided to pick up your first credit card or are in need of a quick refresher, here are five tips to ensure managing your plastic is fuss-free.

Are no interest credit cards worth it

Are no interest credit cards worth it?

If you like to keep up with the latest in personal finance, then you might know that interest-free credit cards are among some of the latest offers to hit the market. As the name suggests, these are credit cards that feature no interest on an ongoing basis.   In early September, NAB launched its Straight Up credit card and was shortly followed by CommBank’s Neo credit card, both resembling a Buy Now, Pay Later (BNPL) service. But should you be picking one up in the near future or are you better off sticking with a low rate credit card? To help you make a decision, we’ll look at the pros and cons, plus how they stack up to low rate and 0% introductory rates credit cards.

Do you really save with a no annual fee credit card

Do you really save with a no annual fee credit card?

Whether you’re new to plastic or well seasoned, you have asked yourself: will I save by paying no annual fee on my credit card? Well, that all depends on your spending habits.  According to the Mozo database, credit card annual fees range from $0 to $1,200. In some instances it may be more cost effective to pay no fee and save the amount annually. But on the other hand, it could be better to pay a fee and offset it in rewards and perks or a lower interest rate. The simple way to find out if you’ll actually save money with a no annual fee credit card is to determine what type of spender you are. How exactly? Check out this scenario …