Australian Banks vs. Non-Bank Credit Card Providers

Knowing which credit card is right for you can be a really tough task. There are a dozens of banks out there that offer a whole range of credit card products that may suit your needs. But there are also a number of non-bank credit card providers. So how do you know which to go for?

Because most non-bank credit card providers don't get a lot of coverage in the media, people can be quite wary of them. This is probably a good thing as there are quite a few out there that don't spend a lot of time trying to entice you to get their product, despite the fact that it is actually a bit if a rip off.

However there are a few out there that do offer great value in a credit card.

With the current number of credit card providers in Australia, we couldn't possibly review them all. However we can narrow it down to banks and a select few non-bank credit card providers. There are three non-bank credit card providers that we review at The Credit Card Guide.

These credit cards include the Wizard Clear Advantage MasterCard, the GE Money MasterCard, the Go MasterCard, the Low Rate MasterCard, and of course the eco MasterCard. All of these have been reviewed extensively and can be found at The Credit Card Guide website.

You'll also find the Woolworths Everyday Money Credit Card. This idea behind this credit card is to provide credit to those in need, while promoting the sale of their supermarket products, as well as that of their partner companies.

You get rewards points at a rate of up to three points per dollar when specific products are bought. Outlets include Thomas Dux, Safeway and Woolworths, Caltex, ePump, Big W, Woolworths/Safeway Liquor, BWS, Dan Murphys, Dick Smiths and Tandy.

An added bonus is that you can link your Woolworths Everyday Rewards card to your Everyday Money credit card and use the two together to get the most benefits from your shopping or while at the petrol pump.

The Aussie MasterCard is another non-bank credit card that comes very highly recommended for balance transfer credit cards and interest free credit cards.

It's not often a non-bank credit card provider can offer a competitive credit card that isn't targeted to certain products or retail outlets, however the Aussie MasterCard does just that.

As a non-bank credit card provider it would be fair to say that Aussie is well worth the time it takes to check it out because it is (in our opinion) one of the best if you are in need of a good all round credit card.

So when you are wondering which is better, banks or non-bank credit card providers, the question will always be asked, 'Can I trust this company?' But the key in this situation is to do your research. Compare the interest rates and know exactly how much YOU can afford and what it is exactly that you need from your credit card.