Cheapest Credit Cards Revealed

No single person has the same lifestyle and spending habits. That’s why there is no ’single’ cheapest credit card that will suit everyone, it’s completely subjective.

I know I will be able to pay off my purchases as soon as possible

If this is the case, then your best choice is any credit card with 55 days interest free.

With the Commonwealth Bank Low Fee MasterCard, you can pay either $24 for an annual fee or $0 if you’re a Commonwealth customer who spends more than $1000 on their card per year.

Therefore if you pay off all your purchases on time, it’s possible to pay a grand total of zero dollars on your yearly repayments with responsible use. The Low Fee MasterCard does have high interest rates, so if you miss the grace periods for interest free, you’ll be hit with some relatively nasty interest repayments.

I’ll be occasionally need time to repay my balance

If you’re worried you might need more than 55 days to pay off your purchases occasionally, you’re best to go with one of the credit cards with a slightly higher annual fee, but much lower interest rate.

I want a cheap credit card, but still want to benefit from a reward’s program

Typically this will mean that the only cost of your credit card will be the rewards program (which ranges from $50 up to $350). Since practically all cards come with interest free days, what it boils down to is finding the card with the most appropriate rewards for your lifestyle.

Simply put, the cheapest credit cards for you with a rewards program will cost you $0 on your repayments, and $50-$350 for your rewards program (depending on how prestigious your service and card is). The cards below all have annual fees below $70.