What Are the Best Credit Cards for 457 Visa Holders?

As an expert in credit cards, I can confidently say that there are a variety of credit cards available for 457 visa holders in Australia. The best credit cards for 457 visa holders are those that offer a range of benefits, including low interest rates,rewards programs, andno foreign transaction fees. In this article, we will discuss some of the best credit cards for 457 visa holders and what benefits they offer.

Low-Interest Rate Credit Cards

For 457 visa holders looking for a credit card with a low-interest rate, the Bankwest Breeze Mastercard is an excellent option. This card offers a variable interest rate of 9.90% p.a., which is one of the lowest rates available in Australia. Additionally, the Bankwest Breeze Mastercard has no annual fee and a balance transfer rate of 2.99% p.a. for the first nine months.

Rewards Credit Cards

If you are looking for a credit card that offers rewards, the American Express Essential Credit Card is a great choice. This card offers one Membership Rewards point for every dollar spent, which can be redeemed for a variety of rewards including gift cards, travel, and merchandise. The American Express Essential Credit Card has no annual fee and offers complimentary smartphone screen insurance.

No Foreign Transaction Fee Credit Cards

For 457 visa holders who frequently travel overseas, the 28 Degrees Platinum Mastercard is an excellent option. This card has no foreign transaction fees and no annual fee. Additionally, the 28 Degrees Platinum Mastercard offers complimentary travel insurance and purchase protection insurance.

Credit Card Application Tips

When applying for a credit card, it is important to consider your credit score. A good credit score will increase your chances of being approved for a credit card with a high credit limit and better benefits. Additionally, it is important to read the terms and conditions of any credit card before applying to ensure you understand the fees and charges associated with the card.

Credit Card Savings Tips

To save money on your credit card, it is important to pay your balance in full each month to avoid interest charges. Additionally, you can save money with cashback rewards programs, which offer cashback on purchases made with your credit card. It is also important to avoid overspending on your credit card, as this can lead to high-interest charges and debt.

Credit Card Fees and Risk Avoidance

When choosing a credit card, it is important to consider the annual fee, which can range from $0 to several hundred dollars. Additionally, it is important to avoid late payment fees and over-limit fees by paying your credit card on time and monitoring your spending. To avoid the risk of fraud, it is important to keep your credit card details safe and monitor your account for any unauthorized transactions.

Credit Card Company Recommendations

Some of the best credit card companies in Australia include American Express, Commonwealth Bank, and Westpac. These companies offer a range of credit cards with competitive interest rates, rewards programs, and no foreign transaction fees. It is important to compare credit cards from different companies to find the one that best suits your needs and budget.

In conclusion, there are a variety of credit card options available for 457 visa holders in Australia. When choosing a credit card, it is important to consider your needs and budget, as well as the benefits offered by the card. By following these tips and recommendations, you can choose the best credit card for your needs and save money on your purchases.