In the past, we brought you our top picks for the best balance transfer cards, frequent flyer cards, low fee credit cards, and even the top five Australian credit cards overall. Now we’re going to take a step back and compare credit card issuers rather than individual cards. Who offers the most good deals to choose from? Which credit card company is most likely to have the credit card you really want? What companies are most competitive when it comes to landing your business in the credit card market?
We’ve looked at factors such as the variety of credit card offers a company provides, where their interest rates tend to fall in relation to comparable offers, and more in choosing these — our top five picks for the best Australian credit card issuers.
1. Citib
Many credit card holders aspire for a higher credit card limit. The obvious reason for this is that a higher credit card limit enables the purchase of otherwise unaffordable merchandise. Below are 7 useful guidelines to improving your chances of gaining a higher credit card limit.
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Many credit card holders aspire for a higher credit card limit. The obvious reason for this is that a higher credit card limit enables the purchase of otherwise unaffordable merchandise.
First and foremost, credit card holders need to remember that to get a higher credit card limit, they must abide by the terms and conditions of the credit card company or bank.
05 Feb
Posted by Admin as Credit Cards
Despite the fact that some may feel the economy is in a poor state, a recent survey shows that consumers are feeling a bit better about their own personal finances and budgeting abilities.
According to the Discover U.S. Spending Monitor, 56 percent of consumers said the economy is “poor,” which is a point below what was reported in December. However, 49 percent of those polled said they felt that conditions in the economy were going to get worse, which is a point higher than was shown in the previous survey.
The survey also showed that a majority of consumers plan on cutting back on discretionary purchases as they continue spending restrictions they put forward after the holiday season.
“Consumers appear to be holding steady on their spending patterns,” said Julie Loeger, senior vice president of brand and product management for Discover. Read more…
More Americans are putting off mortgages loans in favor of credit card payments, according to a recent study by TransUnion. The study points to the housing bubble effect among reasons for this “flip,” which runs counter to conventional wisdom about payment hierarchy.
“The implosion of the mortgage industry over the last 24 months, the resetting of adjustable-rate mortgages and the weak job market have all come together to redefine how consumers are managing their finances and meeting (or not meeting) their credit obligations,” said Ezra Becker, director of consulting and strategy in TransUnion’s financial services business unit.
The trend emerged during the first quarter of 2008 and is more pronounced in states such as California and Florida, where foreclosure rates soared. Read more…
The so-called “American Express Zync credit card” was released recently, aimed at younger consumers who wish to pay their balance off in full each month (whether they like it or not).
Like many other American Express credit cards, it’s an installment card (also referred to as a charge card) because the full balance must be paid each month; no minimum payment option with this one.
That means there’s no interest or finance charges tied to the Zync card, which is clearly a plus for young consumers who are notorious for getting into debt.
Of course, it diminishes the value of the credit card to some degree, as it’s really a form of convenience, and not so much a revolving credit line.
It’s similar to many of the American Express credit cards already kicking around for older consumers, like the Gold Card, which must be paid in full each month.
The big difference is the annual fee, which at $25, is much cheaper than the credit cards for the big boys.
Zync from American Express is also customizable, with four different packs available for an additional $20 each annually (the Eco Pack is free).
They include the Go Pack, Social Pack, Connect Pack, and Eco Pack, each offering special deals and discounts for the associated lifestyle.
Zync offers standard American Express membership awards, purchase protection, extended warranty, return protection, excellent dispute resolution, and more.
While Zync may be a good choice for parents who want their kids to carry a credit card without the risk of being hit with finance charges, the annual fee can be a bit of a setback.
There are also a number of revolving American Express credit cards with no annual fee out there that offer the same benefits, though there is the risk of getting into more trouble.
It seems the Zync was released with the credit crisis in mind, as revolving credit cards dominated those boom years, and may be getting phased out as card issuers look for profit without taking on as much risk.
Apply here if the card interests you…
(photo: debaird)