Credit Cards

[kangaroo19]

Hi,

Am looking to buy a credit card, and just wondering one or two things about them. Just wondering what credit card transaction fees are like? I'm asking this because the only card I have seen a mention of transaction fees was with the Wizard card which promotes "0 transaction fees". Any help would be appreciated.

Also, what determines the credit limit? I'm a uni student at the moment on about $14,000 but next year I have a job starting at an accounting firm with $32,000 - will they consider this situation?

Cheers

 

[daddy_4_eyes]

Different providers, different rules.

I think generally you might find it hard getting a credit card if you're working as a casual, or earning less than $20k a year.

 

[de_LICA_ish18]

I would hope that they wouldn't give a credit card to someone on $14K. They won't take your future income into account.

Even $32K is a low income so I guess they may start you on a $2000 card. Then annually they'll offer you a credit limit increase, if you have kept a good account with them. They do not look at your salary after the initial application.

No idea about fees, I never look. I think most have annual fees but you can shop around for one that doesn't like Virgin. The most important thing to look at is the interest rate.

Oh and you don't "buy" credit cards

 

[kangaroo19]

I would hope that they wouldn't give a credit card to someone on $14K. They won't take your future income into account.

Even $32K is a low income so I guess they may start you on a $2000 card. Then annually they'll offer you a credit limit increase, if you have kept a good account with them. They do not look at your salary after the initial application.

No idea about fees, I never look. I think most have annual fees but you can shop around for one that doesn't like Virgin. The most important thing to look at is the interest rate.

Oh and you don't "buy" credit cards

Haha, I didn't know what you meant with that last comment until I read my post... just a typo - obviously meant "get".

I'm getting a credit card for the convenience of net and phone ordering, and I'll only be purchasing items if I have the money so I can pay off straight away - interest rates are not an issue for me, as long as there is an interest free period.

Are eftpos transactions generally free or do they cost? I've seen that ATM withdrawals are a few $$$, but haven't seen anything mentioned about eftpos.

Cheers

 

[kangaroo19]

Different providers, different rules.

I think generally you might find it hard getting a credit card if you're working as a casual, or earning less than $20k a year.

Oh and i'm part-time by the way, not casual.

 

[prized bitch]

I'm getting a credit card for the convenience of net and phone ordering, and I'll only be purchasing items if I have the money so I can pay off straight away - interest rates are not an issue for me, as long as there is an interest free period.

Perhaps you should consider a Visa or Mastercard Debit card then? Anyone qualifies for that type of setup.

I have a CC with a 4k limit. I'm also unemployed. Go figure.