Top tips for students to avoid credit card fees
Credit providers are very inventive with their fees, so you'll need to be crafty to avoid them. Here are Mozo's top 4 student credit card tips:
Fee free credit card comparison - last updated 19 March 2024
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American Express Low Rate Credit Card
Competitive low rate with $0 Annual Fee. Offers Card Refund Cover and Card Purchase Cover. Must have no history of bed debt or payment default, be aged 18 years and over, and be an Australian citizen, permanent resident, or hold a long term visa.
Annual fee
$0Interest free days
55Purchase rate
10.99% p.a.Balance transfer rate
No current offerCompareCompareLow Rate Credit Card
Competitive low rate with $0 Annual Fee. Offers Card Refund Cover and Card Purchase Cover. Must have no history of bed debt or payment default, be aged 18 years and over, and be an Australian citizen, permanent resident, or hold a long term visa.
- Annual fee
- $0
- Interest free days
- 55
- Purchase rate
- 10.99% p.a.
- Balance transfer rate
- No current offer
- Purchase rate
- 10.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $0
- Late payment fee
- $30.00
- Cash advance fee
- 2%, min $2.50
Read our Mozo Review to learn more about the American Express Low Rate Credit Card
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Latitude 28° Global Platinum Mastercard
The Latitude 28° Global Platinum Mastercard has no annual fee, free Global Wi-Fi and no overseas fees on purchases made when travelling or when shopping online you can pay like a local wherever you are.
Annual fee
$0Interest free days
55Purchase rate
27.49% p.a.Balance transfer rate
No current offerCompareCompare28° Global Platinum Mastercard
The Latitude 28° Global Platinum Mastercard has no annual fee, free Global Wi-Fi and no overseas fees on purchases made when travelling or when shopping online you can pay like a local wherever you are.
- Annual fee
- $0
- Interest free days
- 55
- Purchase rate
- 27.49% p.a.
- Balance transfer rate
- No current offer
- Purchase rate
- 27.49% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- 29.99% p.a.
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 0%
- Annual card fee
- $0
- Late payment fee
- $35.00
- Cash advance fee
- 3%, Min $4
Read our Mozo Review to learn more about the Latitude 28° Global Platinum Mastercard
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Apply By 31 Jul 2024
Bank of Melbourne Vertigo - Balance Transfer Offer
0% p.a. for 32 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply.
Annual fee
$55Interest free days
55Purchase rate
13.99% p.a.Balance transfer rate
0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)CompareCompareVertigo - Balance Transfer Offer
0% p.a. for 32 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply.
- Annual fee
- $55
- Interest free days
- 55
- Purchase rate
- 13.99% p.a.
- Balance transfer rate
- 0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
- Purchase rate
- 13.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- 0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
- Cash advance
- 21.49% p.a.
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $55
- Late payment fee
- $15.00
- Cash advance fee
- 3%
Read our Mozo Review to learn more about the Bank of Melbourne Vertigo - Balance Transfer Offer
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Bendigo Bank Ready Credit Card
Annual fee
$0Interest free days
55Purchase rate
19.99% p.a.Balance transfer rate
No current offerCompareCompareReady Credit Card
- Annual fee
- $0
- Interest free days
- 55
- Purchase rate
- 19.99% p.a.
- Balance transfer rate
- No current offer
- Purchase rate
- 19.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- 19.99% p.a.
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 0%
- Annual card fee
- $0
- Late payment fee
- $15.00
- Cash advance fee
- Greater of $3.00 or 3% of the transaction amount.
Read our Mozo Review to learn more about the Bendigo Bank Ready Credit Card
Your selected credit cards
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1. Always pay the minimum amount due on time.
At the very, very least, you've got to remember to pay this one. Failure to do this may result in the following atrocities:
- A fee (ranging from $10 to $40).
- Losing your interest-free period.
- A bad credit rating. (This one might sound obscure, but it'll come back to bite you.)
MOZO'S HANDY HINT: Arrange to have the minimum amount direct debited from your student bank account.
2. Give your annual fee the flick.
Cards with rewards programs often have higher annual fees than regular cards - and the value of benefits can be less than the fee! A free toaster might be more fun than sensible financial practice, but let's not give the banks the satisfaction of making off with our money.
MOZO'S HANDY HINT: Keep your student credit cards to a minimum. More
cards mean
more needless annual fees.
3. Resist the cash advance.
Most banks charge a fee for the pleasure of your easy money. Plus,
cash advances attract interest immediately, even if your
card offers a 55-day interest-free period on
purchases.
MOZO'S HANDY HINT: Student credit cards are for purchases only.
4. Never, EVER exceed your credit limit.
Overlimit fees (usually $35) will
apply once you exceed your credit limit. Bad credit ratings may swoop
down upon you.purchases.
MOZO'S HANDY HINT: If you're spending up a storm, check your credit
balance.
MOZO'S EVEN HANDIER HINT: If you're fast-approaching your credit limit,
check out a balance transfer card pronto.
Okay okay, thank you for
saving me all these heinous fees.
Now tell me how to manage my credit balance
^See information about the Mozo Experts Choice Credit Card Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
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