The world of credit is what you make of it. If you opt out of the credit game, you will hurt your chances of getting a house later on down the road. On the other hand, if you overdo your credit options, you will end up finding that you’re leveraging too much debt and that’s something that can really come back and bite you. So, where does that leave you with Australian credit cards?
Quite a bit of options, actually. You see, credit is what you make of it, and if you’re going to do anything within the nation of Australia, you’re going to need credit eventually. When you think about it, getting Australian credit cards early actually makes sense. You will have the power to order things online, reserve car bookings, flight reservations, and just about everything else under the sun. You definitely don’t want to enter the world of being a cash only customer too terribly long. It’s all about proving to current and future lenders that you can handle credit. It’s really your word being done in a financial sense. If you want your word to be strong in the financial world for bigger purchases, you’re going to need to make sure that you get smaller credit lines to strengthen things along the way. No one starts out with the type of credit history that would allow them to buy a house right from the beginning. That level of trust has to be earned over time. The mortgage lender is trusting that you will pay them back over the scheduled time frame for letting you to purchase the home in the first place.
But it’s more than that. Even though we always advise people to start an emergency fund with liquid resources, you can’t always do that. Credit cards can come in handy for true emergencies that come out of nowhere. The more that you plan for such things, the easier life will be down the road.
Now is definitely the time to start looking around for the best credit cards. Yes, you’ll need to keep looking for the best card that has the lowest interest. If you don’t have much credit history to speak of, finding the best card will be very straightforward. If you’ve had some credit challenges in the past, you might have to start with a credit specifically made for people in your situation. That means that you will have to deal with a higher interest card, but over time you will qualify for better deals. Hang in there, and check out all of your options today!