Credit Cards

Find the best credit card deals in Australia with Mate.com.au – we’ve got your back!

With credit cards In Australia, we have a lot more choice than you. So many Aussies lose money by not switching to the right provider and by not doing this frequently. So what exactly can you learn by comparing? A lot, as we’ll explain:
You may be overwhelmed by all these choices, for example Gem Visa, Go Mastercard, Coles Mastercard, ANZ rewards, the Virgin Credit Card, the Qantas Credit Card – and other competing offers from Westpac, Skye, NAB and Woolworths, You may even have heard about the popular 28 degrees card from Latitude.

Heard of things like a balance transfer credit card? An interest free credit card? Wondered what is the difference between a debit and credit card? Join the club because hundreds of other readers are asking the same questions here on Mate.
The next logical step may be to hit the credit card comparison engines like Creditcard.com.au – but, if you want a good contextual overview and an easy walk-through on credit cards – then we here at Mate have you covered!

Applying for or Switching to New Credit Card? We Can Help You Here!

Are you planning to apply for or get a new credit card? Also, would you like to learn from credit card comparison tables, so you can make the best decision regarding which type of card is right for you? If your answers are “Yes” to our two queries, then, you have made it to the right website.

Mate.com.au is a comparison portal that can aid you in selecting the credit card which is suitable for you and your needs. We evaluate the different features of more than 100 bank cards from 50 financial services providers to help you find out the most optimal card and card-related deals here in Australia.

How Do We Differentiate the Various Bank Cards?

Here at Mate.com.au, we tell apart a wide range of Australian bank card products. When comparing the personal, unsecured credit cards, we assess these factors:

  1. No-frills card features;
  2. Fees;
  3. Interest rates;
  4. Number of interest-free days;
  5. Standard features;
  6. Premium features; and
  7. Rewards programs and loyalty programs.

Furthermore, we utilize a one-of-a-kind and advanced star ratings technique to demonstrate the results of our differentiation. This five-star concept is consumer or user-friendly and easy to comprehend. Our rating technique in our comparison is both extensive and transparent as well. The five stars denote that a credit card or bank product is of excellent value.

What Are the Kinds of Bank Cards Compared Here?

We evaluate assorted kinds of cards which fall into different classifications. They consist of these bank products:

  1. No Annual Fee Card
  2. Rewards Card
  3. Premium Card
  4. Platinum Card
  5. Low-Fee Card
  6. Interest-Free Card
  7. Low-Interest Rate Card
  8. Balance Transfer Card
  9. Frequent Flyer Card
  10. Travel Card

Moreover, we look at the card payment service providers like Diners Club, Visa, American Express, and Mastercard. Banks partner with these financial services companies.

Frequently asked questions

1. I am a new cardholder. What requirements do I need to fulfil to secure my first bank card?

Here in Australia, you need two things when applying for a credit card. They are:

  • A) Financial Information

Your credit card issuer, which is usually a bank, will want to know pieces of information regarding your job and how much you earn. Keep in mind that every bank card provider will possess their income requirements. For instance, if you are applying for a primary bank card, every year, you may merely need to earn a minimum of $15,000. This required annual salary is different if you are applying for a premium card, which usually features a higher income requirement, amounting to more than $65,000 per year.

  • B) Personal Identification

The bank card provider or financial institution would ask for pieces of information regarding your identity. They would usually request for essential documents and details, such as your Australian driver’s licence number. Moreover, your card issuer will require you to be a resident of Australia. You should be 18 years old or older, too.

Here in Australia, you need two things when applying for a credit card. They are:

  1. A) Financial Information

Your credit card issuer, which is usually a bank, will want to know pieces of information regarding your job and how much you earn. Keep in mind that every bank card provider will possess their income requirements. For instance, if you are applying for a primary bank card, every year, you may merely need to earn a minimum of $15,000. This required annual salary is different if you are applying for a premium card, which usually features a higher income requirement, amounting to more than $65,000 per year.

  1. B) Personal Identification

The bank card provider or financial institution would ask for pieces of information regarding your identity. They would usually request for essential documents and details, such as your Australian driver’s licence number. Moreover, your card issuer will require you to be a resident of Australia. You should be 18 years old or older, too.

What are the typical reasons for rejection of card applications?

Card providers can reject applications due to various grounds, including the applicant not meeting their requirements, such as:

  • A) Credit History;
  • B) Expenditures;
  • C) Employment Stability;
  • D) Being under the minimum age limit;
  • E) Not meeting the residency or citizenship requirements;
  • F) Insufficient salary, making the applicant unable to fulfil the minimum income qualification for the bank card;
  • G) Applying for several cards in a short time, indicating that the applicant is undergoing financial struggles; and
  • H) Entering incorrect personal details, making it difficult for the card issuer to verify the applicant’s identity.

Thus, you need to read your card issuer’s requirements carefully and fulfil them to prevent your application from getting declined.

What Steps Should I Take After My Card Application Gets Refused?

You should stay calm if you learn that your card application gets denied. Then, you should perform these necessary measures:

  • Do not apply immediately for another bank card.

If you apply for another credit card soon after you got declined, you will make your concern worse. It is because the measure you are taking could add another negative mark on your credit record. Rejections of card applications typically appear on a consumer’s credit report.

  • Ask for a copy of your credit report from your credit bureau.

Your credit report indicates whether you need to make your credit rating better. Also, this document shows possible errors that could have resulted in the refusal of your card application. If you discover that there is a mistake on your credit report, fix it as soon as possible by reaching out to and coordinating with your credit agency.

  • Make a plan to enhance your credit rating.

Card issuers typically reject applications with problematic credit ratings. Hence, you should consolidate your outstanding cards or loans into debt consolidation. In this manner, you can pay off your debts more quickly.

  • Review your monthly expenditures.

You should check if you have huge expenses that you could trim down. Then, set a budget that is easy to follow. In this way, you could diminish your daily costs. Getting your card application refused for the first time does not mean that your applications would always get declined. You merely need to fix the issues mentioned above and then, you are free to re-apply for another bank card once more.

Back to top button
Close
Close