The world of consumer credit is large and complex, which can often scare investors looking to dip their toe into the water of credit card lending.
For the average Australian, having access to a line of $6,000 credit (or more) is a recipe for disaster and a gateway to overspending and years of carrying a balance.
However, if you think you have the self-control, then adding a credit card to your personal finance gameplan can be a powerful way to get "free" bonuses.
With this in mind, I've taken a look at 3 of the best cards on the market at the moment that can cater to all credit card-using Fools in 2019.
1. The Beginner – St. George Amplify Platinum Visa with Qantas Points
This St. George card looks to be a great option for those just getting their first credit card.
With a minimum spend of $2,000 within 3 months, or just over $650 per month, the St. George card can bank you 60,000 Qantas Points for minimal effort.
Even better, the card has an annual fee of just $99 per year, which is very much at the low end of the market.
2. The Intermediate – NAB Qantas Rewards Signature Card
I like this National Australia Bank Ltd (ASX: NAB) credit card because it has one of the lower minimum spends on the market and a great points-per-dollar ratio.
All you need to do to bag 90,000 Qantas Points, which could be enough for a return trip to Hong Kong according to the Qantas Airways Ltd (ASX: QAN) website, is spend $3,000 in the first 60 days of having the card.
If you're regularly spending $1,500 per month on your everyday expenses, then this NAB card could be a great option for you to cash in on bonuses, although you do have to weigh up the $295 first-year annual fee ($395 thereafter).
3. The Advanced – Qantas Premier Titanium Mastercard
This card isn't for your average Joe, with a minimum spend of $5,000 within 90 days of approval and an annual fee coming at $1,200 per year.
However, the lofty spending required to get and cash-in on the card are rewarded, with a tasty 150,000 bonus Qantas Points on offer and the opportunity to earn 1.25 Qantas Points per $1 spent in Australia.
This is for your more sophisticated credit card user and one that has significant monthly expenses in excess of $1,500 per month – it's usually unwise to go overspending to earn your points.
Foolish takeaway
There is a wide range of credit cards on offer and the use of a comparison website is a great place to start. It's important to always read the fine print to ensure you get the best bang for your buck with your credit card.
