Credit Cards

There's definitely been an explosion in the number of credit cards available in Australia. It's no real surprise when you think about the high consumer spending power in this country. While consumer spending may be on the decline given economic pressures and the increase in oil prices, the credit card is still a well-worn staple in our wallets.

All the common banks - Commonwealth, National, Citibank, Westpac, Bendigo Bank, Virgin, ANZ, St George - offer credit cards with varying levels of interest, annual fees and interest free periods. The choice depends on what you wish to do with the card.

Providers such as Diners Club, American Express, Master Card and Visa also have their differences, mostly in terms of global portability and costs.

As with any financial decision, ensure you do your homework before signing monetary contracts such as those required for credit cards.