It is not a provider of loan, credit or any other financial products and aims to provide information about a variety of products and facilities, although does not provide information about all products available to consumers or all product features and there may be alternative options available elsewhere.įair Comparison does not recommend (or assist you with choosing) specific products and should you choose to apply for a product which is listed you will deal directly with the provider of the product or its broker/representative. Tyrian Pty Ltd and Fair Comparison Pty Ltd may receive a commission payment if users click through, apply and/or successfully acquire a loan or credit card product from or through the provider.Īs the operator of this website, Fair Comparison provides information relating to financial or credit products offered by banks and other financial organisations or financial or credit service providers. Tyrian Pty Ltd is a wholly owned subsidiary of iSelect Ltd and has partnered with Fair Comparison Pty Ltd (ABN 48 647 552 958, credit representative number 530417) who operate this website as a credit representative of QED Credit Services Pty Ltd (Australian Credit Licence 387856) to help you compare a range of credit card, personal loan and car loans. *Tyrian Pty Ltd (ABN 91 158 954 655, credit representative number 486373), is a credit representative of QED Credit Services Pty Ltd (Australian Credit Licence 387856). Because of this, having too many credit cards can have negative impacts, even if you always make your repayments on time. Default on phone or utility bills (this can only be passed from utility providers to credit agencies if the default amount is $150 or more, and 60 days or more have passed since the due date)Īdditionally, whenever you apply for a loan, lenders will use the maximum balance of any credit cards you have to determine if they can lend to you.Defaulting on credit or loan repayments.Poor repayment history (including late repayments).Filing multiple applications for credit in a relatively short period of time.Things that may impact your credit score can include: Defaults on utility bills, credit cards, or loans.Information on any credit products you’ve held in the last two years.Personal information (such as your name, date of birth, and address).These agencies will provide a comprehensive credit report which can include things such as: When assessing your application for a credit card, lender’s will perform a credit check from one of several credit reporting agencies. Rewards cards can come with bonus points upon signing up, and these points can often be redeemed for retail vouchers. If it’s a rewards card, this refers to how many points you accrue per $1 spent Be sure to align with a card that has a rewards program that you’re likely to actually get benefit from. Some cards come with rewards programs such as AMEX rewards and Qantas Frequent Flyer rewards. Different cards come with different minimum credit limits, ranging anywhere from $500 to $6,000 depending on the product ,provider and your eligibility. This is the least amount of credit a bank or lender will offer you. Interest-free days typically relate to specific pre-defined days in your billing period, and don’t typically begin when a purchase is made.Īnnual or monthly fees, rewards program fees, late repayment fees, cash advance fees, overdraft fees, and fees for using your credit card overseas These are the days where interest won’t be applied to purchases. You might want to check out what the interest rate will revert to once this set period finishes. If you opt for a ‘0% interest’ card then typically interest will be waived for a set period. Honeymoon (or introductory) interest rate:.Rewards cards typically come with higher interest rates than low fee credit cards. This is the rate of interest charged on the outstanding balance of your card at the end of each statement period. Here’s a brief list of some basic product features worth comparing: When comparing credit cards, you might not only want to compare products such as Rewards cards versus Low Fee cards, but also the underlying features*.
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