CANSTAR CANNEX Credit Card Profiles - Which one are you?The value of any particular credit card depends on how it is used. That's why CANSTAR CANNEX rates credit cards according to spender profile. We use four profiles – Habitual spender, Impulse spender, Everyday spender and Big spender – in our credit card star ratings.If you're short-listing cards that give superior value according to the type of spender you are, check out the five star products in the CANSTAR CANNEX credit card star ratings report. 
Habitual SpenderDo you struggle to pay off your credit card and carry over the debt from month to month? Your best bet is to go for a low rate card with a very low or no annual fee. If you can get a card that offers instant rewards or discounts at places you regularly use, that's even better. Don't, however, be swayed by cards offering big rewards, as these usually come with big monthly interest rates and/or large annual fees.(For this profile CANSTAR CANNEX uses the scenario of spending $12,000 a year while revolving a balance of $5,000.) 
Impulse SpenderIf you only use your card for emergencies and impulsive spending (such as Christmas shopping, holidays or sales) then spend the next few months paying off the balance, try to find a low rate card with a very low or no annual fee.(For this profile CANSTAR CANNEX uses the scenario of spending $3,600 per year while revolving a balance of $1,800.) 
Everyday SpenderIf you use your card for regular purchases such as groceries and petrol and pay off your balance in full each month then you have a bit more breathing room since you don't have to worry about interest rates. Your challenge will be to find the card that provides the features you're interested in at the lowest cost. As you stick to a budget and are disciplined enough to pay in full, you can afford to check out what rewards programs are on offer.(For this profile CANSTAR CANNEX uses the scenario of spending $24,000 while revolving a balance of $500.) 
Big SpenderIf you earn and spend a lot of money on your credit card each year and nearly always pay off your balance, you might be in the market for a card that provides features and perks that you use frequently. These may include free travel insurance, concierge service and rewards program.(For this profile CANSTAR CANNEX uses the scenario of spending $60,000 while revolving a balance of $1,000.) Credit Cards ... |
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Star Ratings are a guide to help you if you are shopping for a new credit card, or simply wish to find a credit card product that represents superior value for money. Only the top credit cards are given a Five Star rating.
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CANSTAR CANNEX Credit Card Profiles - Which one are you? |
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The value of any particular credit card depends on how it is used. That's why CANSTAR CANNEX rates credit cards according to spender profile. |
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