One out of three Australians (32%) likens the attachment they have with their credit card to being trapped in an abusive relationship, according to a poll* of 2,033 people by financial services website ARTOG. Adding extra concern, the survey found more than a quarter of us (27%) own four or more credit cards and almost half of us (42%) have no clue what they are being charged in interest. With this knowledge, ARTOG.com.au has expanded its comprehensive free service that allows all Australians to rank and compare major credit cards across categories that suit their needs.
“It is absolutely unnecessary for Australians to feel so trapped by their credit cards,” states ARTOG.com.au General Manager, Kevin Sherman. “A little bit of wisdom goes a long way which is why our website gives you the free tools to make the right decision so you can control your credit card; not the other way around.
“If you’re finding it hard to pay off your credit card, the website can help you narrow down the best low rate cards or attractive balance transfer options. Some cards offer a 6 month interest free period on balance transfers. During this time, be strict and pay your credit card off in full.”
If after going to the website you find your current credit card’s interest rate to be hovering around a hurtful 19%, pick yourself up off the ground because ARTOG.com.au can help you find a card with a rate as low as 8.99%. There is also a useful credit cards comparison calculator that allows you to compare any two cards to see the indicative savings that could be achieved if you switched.
“Not everyone is in dire straights with their credit cards, and for these people they may simply want a credit card with a great rewards scheme or absolutely no annual fees” states ARTOG General Manager, Kevin Sherman “the Artog site can help to identify the best opportunities out there.”
The ARTOG website also includes sections on how to choose the best card for your circumstances as well as tips and tricks to manage a credit card so it doesn’t land you in hot water.
* Online survey of 2,033 Australians of all ages conducted by ARTOG.com.au during May 2007