Credit card news and advice

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

Credit card spending to pick up as christmas nears says citi

Credit card spending to pick up as Christmas nears, says Citi

With Christmas less than two months away, it won’t be long until the country starts buzzing with shopping. In fact, many Aussies might have already gotten a jump on their Christmas shopping, as new Citi research shows that the estimated credit card spend for October is 3% higher than September. The top three spend industries are supermarkets (10.3%), household goods retailing (8.85%) and business services (7.06%), Citi reports. Interestingly, hotels, spas and resorts have held a spot as the 11th highest spend category, which head of credit cards at Citi Australia, Choong Yu Lum says could show how many households are planning to spend at the end of the year.  “The credit card industry continues its path to recovery with ‘spend’ increasing month on month. Customer spend patterns reflect a trend towards leisure time and holiday seeking, with behaviour showing consumers are on board with the easing of isolation restrictions and are ready for a break,” he said.

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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.

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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. 

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Picking up a rewards card consider these extras

Picking up a rewards card? Consider these extras

From a warm bath to an hour long massage, we all deserve a little luxury every once in a while. But if you're keen to indulge in a bit of luxury with your shopping habits, you might be considering picking up a rewards credit card. Unlike a regular credit card, these flashy pieces of plastic are loaded with a range of features and rewards. So if you’d like to find out what extra perks you could get your hands on, check out our list below.

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How to spread christmas costs with a 0 purchase rate credit card

How to spread Christmas costs with a 0% purchase rate credit card

For many Aussies, Christmas has the tendency to sneak up. Before we know it, we’ll be dropping bundles of cash and draining our savings. But if you’re keen on getting a bit more financially savvy with your Christmas shopping this year, why not try picking up a 0% purchase rate credit card?As the name suggests, a 0% purchase rate credit card is a type of card that comes with no interest, but for a specific time length. After the 0% interest period is up, the card then reverts to a purchase rate that can range from anywhere between 11% - 14%. While the idea of interest-free spending might sound like a Christmas miracle, there are a few things to keep in mind before signing the dotted line.

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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. 

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Award winning credit cards revealed for 2020 mozo experts choice awards

Award winning credit cards revealed for 2020: Mozo Experts Choice Awards

Aussies love to spend, and a lot of us are using credit to purchase everyday things as well as big ticket items. So, it’s important to find a credit card that suits your needs and budget. The old stigma that credit cards were something that would get you in debt has long changed, and the “smart” use of plastic has helped many Australians, consolidate debt, score rewards and even manage cash flow for their business.For the 2020 Mozo Experts Choice Awards, Mozo judges compared 215 personal credit cards and 45 business credit cards, from over 70 financial providers, proving just how saturated and complex the market can be when trying to choose one that meets your needs.“Credit cards come in all shapes and sizes, and whilst they are a convenient way to pay, many card holders are still getting stung with high rates, annual fees and unnecessary usage charges,” said Mozo Expert and awards judge, Peter Marshall.“Our awards aim to help consumers find the credit card that’s right for them, whether it’s a low rate, great rewards or an appropriate business card for their needs.”With over 16 million credit cards in the Australian market according to the Reserve Bank of Australia, finding the right one has never been more important.Credit Card Provider of the YearFor the fourth year in a row and proving that consistency is key, American Express has taken the crown yet again as Credit Card Provider of the Year!The coveted title comes together with eight individual awards in all three categories assessed; personal, rewards and business cards. So it’s no small feat for American Express to add this award to their outstanding reputation in the industry.

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