Match Your No Annual Fee Card to Your Spending Habits

When it comes to choosing credit cards, the big ‘X factor’ that prevents anybody honestly saying that ‘this is the best credit card’ is a person’s spending habits. For example, the value that a single credit card offers to a person who only spends in emergencies, but is very slow to pay off the balance, compared to a person who puts all their everyday spending on the credit card but pays off the entire balance every month, will be very different. Today we check out the no annual fee credit card that will suit you, according to your spending habits!

Emergency spenders

If your card will mostly just be sitting there, you really shouldn’t have to pay an annual fee. Choose a card with no annual fees for the lifetime of the card, like the HSBC credit card, the ‘Zero’ Bankwest credit card or the American Express Gold Ascent.

Impulse spenders

If you mostly leave your credit card sitting there with a zero balance, but occasionally find that your wallet needs an airing out when you see a great special or awesome product, you’re an impulse spender. You’ll want a no annual fee card that has plenty of interest free days to give you time to pay off your purchase. The Commonwealth Bank Low Fee Credit Card, Westpac 55 Day Mastercard and the HSBC credit card all offer 55 days interest free on purchases.

Habitual spenders

If the credit card slot in your wallet resembles a revolving door, you’ll want the lowest interest rate possible along with your no annual fee card. Often you’ll find that you only get the annual fee waived for the first year with the lowest interest rates. We recommend the Commonwealth Bank Low Fee Credit Card or Westpac 55 Day Mastercard, both of which waive the annual fee every year as long as you spend a set amount.

Big spenders

If you’re a big credit card spender, there really aren’t any ‘no annual fee’ credit cards we recommend … you’d be much better off going with a low interest credit card. Alternatively, if you’re good at paying off your balance, the Coles credit card gives you 62 interest free days.

Everyday spenders

Go for a card that gives you rewards for all that spending and paying off as well as a lowered annual fee – try the HSBC credit card or the American Express Gold Ascent Credit Card.