Credit cards: compare the repayment terms behind the offer
A credit card comparison needs more than the headline rate. Separate purchase costs, fees, promotional terms and the way a balance will be repaid.
Start with how the balance will be repaid
A credit card comparison needs more than the headline rate. Separate the cost of purchases from cash advances, ongoing account fees and any promotional offer. Keep the conditions beside each feature so the comparison does not turn an introductory benefit into a permanent promise.
ASIC MoneySmart's Choosing a credit card (opens in a new tab), updated 26 August 2026, explains why repayment habits matter. Paying the full balance by the due date is different from carrying debt into another statement period. Interest-free purchase days have conditions. Rewards and included extras also need checking against their fees, restrictions, expiry rules and the cost of any unpaid balance.
Record the purchase rate after an introductory period, annual or monthly charges, cash-advance fees and overseas-use charges where relevant. A missing figure is a question for the provider, not a zero to insert into a comparison. The offer's terms and date belong with these notes.
Treat a balance transfer as a separate arrangement
A balance transfer moves existing card debt; it does not cancel the obligation to repay it. The promotional rate, end date, transfer limit and fees need their own review. Any balance left when the promotion ends may attract a higher rate.
MoneySmart's Credit card balance transfers (opens in a new tab), updated 9 September 2026, describes these conditions. Missing a required payment can cause the promotional rate to be lost. The minimum payment may not clear the balance before the offer ends. New purchases can carry a different rate and affect how repayments are allocated.
Check whether the full existing balance can be transferred. If some remains on the old card, that account can still incur interest and fees. Do not treat the advertised transfer rate as the rate on every transaction or assume that the old account closes automatically.
Seek help before an unaffordable payment becomes a new debt
If repayments are becoming unmanageable, contact the lender's hardship team. Be ready to explain what changed, your income and major expenses, and what you can afford. MoneySmart's Financial hardship (opens in a new tab), updated 31 August 2026, says the lender must consider a request and assess what assistance is available. An arrangement might change repayments or establish a payment plan; a particular outcome is not guaranteed.
Keep the agreed arrangement and contact details. If circumstances change again, tell the lender. The official hardship page also explains the complaints route when a request is refused or the response is unsatisfactory. A new promotional credit offer is not a substitute for that conversation.
Keep the comparison within what it can show
This article explains terms to check; it does not recommend a card, determine credit eligibility or calculate a provider's repayment schedule. Separate verified terms from estimates and review them before applying. A provider comparison must show which products it covers and any commercial relationships alongside its conclusions.