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How to compare credit cards

If you’re trying to choose a new credit card, chances are you’ll be looking at a range of options before you make a decision. To help you find the best credit card for you, here are a few questions to keep in mind.

Our credit card comparision table can also guide you through the different options.

If you pay off your credit card in full within the interest free period, you should only ever have to repay the exact amount you spent in that period.

  • Credit cards that offer a low annual fee or the chance to earn awards points may suit your needs, as you can take advantage of these benefits without worrying about higher interest rates.

However, if you use your credit card for purchases that you don’t always pay off immediately, you may eventually pay interest on the outstanding balance, as well as paying off the balance itself.  

  • In this case, a low rate credit card may be a better option, as you will be charged a lower interest rate on any money that you carry across from month to month.

Regardless of their interest rate, all personal CommBank credit cards come with an interest free period of up to 55 days on purchases. Find out how this works and how you can use it.

Some people prefer to make most of their regular purchases on credit card in order to keep all their spending in one place and pay it off each month in a single bill. If this sounds like you, it may make sense to choose a card that rewards you for your day-to-day spending.

You may also be able to take advantage of benefits like free travel insurance or extended warranties on products purchased using an awards credit card.

Awards cards typically have higher interest rates than other types of cards though, so if you intend to make regular purchases but may not always pay everything off, a low rate card could help you minimise the amount of interest you are charged.

On the other hand, if you only plan on using your card for emergencies or to tide you over on occasions like Christmas or while travelling, you may prefer the idea of a basic credit card with a low annual fee.

It should be just as easy to protect your money as it is to spend it.

Check for credit card security features like the ability to lock international payments, block ATM cash advances or even limit how much you can spend in a single transaction.

All personal CommBank credit cards let you turn these features on or off simply by flicking a switch in the CommBank app or changing your card settings in NetBank. Changes apply instantly, making credit card security both easy and flexible to manage.

You should also look into what kind of support is available if you misplace your card, whether you’re here in Australia or travelling overseas, as well as whether you may be covered for fraudulent transactions.

How to compare credit cards

 Use our credit card comparison table to find a card that suits your lifestyle Low Fee credit card

 Lock your credit card from overseas purchases, block ATM cash advances and set your own spending limits with Lock Block Limit.

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