One thing is certain, you will have to pay your balances on any credit card you own. Some card holders try to jump ship the minute that the interest rates change from the introductory number to the standard rate. Credit card providers don’t care much for this kind of hopping on the best deal, and in a short time, those who participate in that type of behaviour stop being approved for the low interest deals.

Your credit rating is affected by the way you handle your finances, and you may not realise that many of the things you do, and do not do, have an impact on how you may or may not be able to borrow or obtain credit in the future.

The goal of every credit card holder should be to keep the balances paid each month, and there is no concern for what the interest rate might be. Of course, in a perfect world there would be no reason to get behind on paying the card invoice, but since we all can have times when part of the balance has to ride, a credit card with a low standard rate is what we all could use.

Select Credit Union’s Low Standard Rate

Most people applying for a credit card these days are looking for some ultra low introductory rate in the hopes that they can pay off lingering balances from their present card. Much of the population of Australia faces credit card debt, and the only hope is to get interest rates low enough to speed up the payback. Even the person starting out new with their personal credit card needs to get the best rate to protect themselves from the balances that can build up.

Select Credit Union has a good idea. They set a starting rate that is not scheduled to be changed in the near future if the card holder holds up his end of the bargain. Of course, there are no guarantees as to how long a rate will last, but it helps to have the one rate going into the agreement. At 11.39% annually, this doesn’t sound great in the beginning, but if it is still there in a couple of years, it is well worth applying for this Visa.

The Good Points for the SCU Visa Card

Although the good rate is a strong feature for this credit card, there are other things to consider if you are intending to make it your own. Briefly, here are some other considerations for this card.

  • The Visa is accepted internationally if you travel, but it is most certainly taken at any EFTPOS or ATM machine in Australia.
  • There are no charges for extra cards.
  • The annual fee is only $30, which you might compare to much more for some cards with high standard interest rates.
  • When you pay your balance in full each month, there is a grace period of 44 days for each purchase. This means you have that long to pay for any purchase without the transaction drawing an interest penalty.

Keep in mind that interest rates quoted for this plan are variable, but even the credit cards that don’t call their rates variable have the same limitations. When the money costs more for the lender to procure, the rates go up for the card holder. If the card holder continually has a balance and is slow to pay, the credit card provider can change the rate to compensate.

It would be nice if the grace period were the more standard 55 days, but most people who pay their balances off still have about two weeks to pay after the invoice comes out, and that should suffice for most people who may be waiting to get reimbursed for expenses they incurred for someone else.