Be honest about whether you are in a good financial position, and have the self-control, to handle a credit card because without careful management the cons can quickly outweigh the pros. Furthermore, applying for multiple credit cards, particularly in a short space of time, can impact your credit score, especially if they each come with a healthy spending limit. Credit card debt is a real issue for many borrowers, and is cited as the number one concern–ahead of electricity bills–for Australians speaking to the Consumer Action Law Centre’s debt counsellors last year. While applying for a credit card is a relatively easy process, it is something that should be carefully considered. For some, this means ensuring a generous interest-free period to avoid the high levels of interest attached to many cards, while for others it’s opting for a rewards card to accrue points for spending on flights or consumer goods. Making sure your credit card works for you-and not the other way around-is crucial to maximising your spending and making use of a card’s features and benefits. Best Credit Cards For Australians In 2023 Forbes Advisor Australia accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in our stories or any other information made available to a person, nor any obligation to furnish the person with any further information. However, Forbes Advisor Australia cannot guarantee the accuracy, completeness or timeliness of this website. We make every effort to provide accurate and up-to-date information. While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do not constitute a comprehensive review of a particular sector. Providing access to our stories should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Forbes Advisor Australia. Readers of our stories should not act on any recommendation without first takingĪppropriate steps to verify the information in the stories consulting their independent financial adviser in order to ascertain whether the recommendation (if any) is appropriate, having regard to their investment objectives, financial situation and particular needs. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers. To the extent any recommendations or statements of opinion or fact made in a story may constitute financial advice, they constitute general information and not personal financial advice in any form. While we may highlight certain positives of a financial product or asset class, there is no guarantee that readers will benefit from the product or investment approach and may, in fact, make a loss if they acquire the product or adopt the approach. When covering investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product or asset classes. The journalists on the editorial team at Forbes Advisor Australia base their research and opinions on objective, independent information-gathering.
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