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The Best Credit Cards in Australia - 2009

The best credit card for you, all depends on what you want to use your credit card for. Below are the best credit cards in Australia for 2009, based on what you might be looking for:

1. The Lowest Interest Rate - Purchases

The first winner for 2009 is the National Australia Banks 'Low Rate' visa card. This currently has a low interest rate of 11.75% on purchases, with an interest free period of 55 days. Although, great for purchases, if you have a need for cash advances this is not the card for you, as the rate is currently 19.99%.

The annual fee is a reasonable $49, and there is a honeymoon period of 6 months with no interest on balance transfers. However, be careful as this balance will be classified as a cash advance once the honeymoon period is over and you will be charged the 19.99% rather then the low rate for purchases.

2. The Lowest Interest Rate Cash Advances

The 'Start Low Stay Low' credit card with St George, has the lowest interest rate for both cash advances and purchases, both at 12.24%. The annual fee is a little higher being $69, but if your have the need for cash advances, this is certainly the card for you.
It has the usual 55 days interest free, but there are no rewards associated with this card, so you really need to weight up if your really need to make cash advances on your credit card for this one.

3. The Best Honeymoon Period

Again, St George is the front runner for this category, with their 'Vertigo' mastercard. For balance transfers there is a honeymoon period of 6 months with no interest. This is great, if you already have high credit card debt and are looking to save some interest.

In addition the 'Vertigo' credit card has a low interest rate on purchases being 11.89%, however I would still recommend the 'Start Low Stay Low'card if your looking at making cash advances as the interest rate on this card is 20.49%.

The annual fee is only $55, and has the usual 55 days interest free period on new purchases.

When researching for credit cards with a good honeymoon period, always read the fine print, particularly the rate that the balance transfer will revert to once the honeymoon if over. In the case of the 'Vertigo' card, the balance reverts to the purchases interest rate of 11.89%. However, the National Australia Bank has the same special offer for there Low Rate Visa card, however the balance transfer changes to a cash advance and the interest rate is 19.99%.

4. The Best Rewards, and Lowest Annual Fee

So

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