Go to Australia to study. If you have such a credit card, your life while studying abroad will be much more convenient. How do international students in Australia apply for a credit card? Which credit card is better for students studying in Australia? Let’s analyze it for you below.

1. Several common credit cards

1. COMMBANK (Commonwealth Bank) - Advantages of MasterCard Gold Card: relatively high IMIT and long interest-free period , online banking is more convenient, and shopping is insured. Disadvantages: high annual fee, slow points accumulation, and few PROMOTIONs.

2. CITI BANK (Citibank) - VISA Gold Card Advantages: Points are earned relatively quickly, insurance is good, and Citibank branches are all over the world, which is convenient. There are many PROMOTIONs, such as BALANCETRANSFER from another bank, you may enjoy a lifetime repayment INTEREST of 4.9. Disadvantages: Compound interest calculation, which means that while you are enjoying low repayment interest, if you want to continue to use this card for shopping, It will be calculated as compound interest, which is very wasteful. Smart people should stop using the card after BALANCE TRANSFER, and just make the payment on a monthly basis. The annual fee is relatively high.

3. HSBC BANK (HSBC Bank) - Advantages of VISA ordinary card: high IMIT, easy to apply, many PROMOTIONs, often with a half-year TRASFER of 3.9 repayment INTEREST, sometimes even 0 time. Low annual fee Disadvantages: No insurance, relatively slow accumulation.

4. AMEX (American Express) - Advantages of Express Points Gold Card: Points are earned very quickly. You can get 1.5 POINTS for one dollar spent, and REWARDS PROGRAM can be exchanged for points from many airlines, such as Singapore Airlines, Malaysia Airlines, Thai Airways, Cathay Pacific and Australia’s QANTAS AIR, etc. Disadvantages: Difficult to apply, extremely high annual fee, no insurance as a gold card, low LIMIT.

5. ANZ BANK (Australian and New Zealand Bank)-VISA ordinary card Advantages: low annual fee. Disadvantages: Few IMITs, only 1.5 Australian dollars can be exchanged for 1POINT.

2. How to apply for a credit card?

Generally speaking, if you want to apply for a credit card in Australia, applicants need to meet many rigid requirements. Conditions, such as: having permanent resident status or holding an Australian visit visa, being over 18 years old and having stable salary income, etc. In addition, in addition to these, Australian banks will also consider the applicant's financial ability when reviewing and issuing credit cards, such as: annual income after tax, whether there are real estate and cars in the name, how much deposits are in the personal account, Whether there are liabilities (whether there is a bank loan), the activity of the account, and the applicant's personal credit record, etc.

3. Precautions for using credit cards

Warm reminder: children who go to Australia to study must not only enjoy the convenience and benefits that credit cards bring to you, but ignore credit cards. There are requirements and restrictions for cardholders. Once you fail to repay in time as required, you are likely to be "punished"~~~ Generally speaking, if you still owe money after the interest-free period, the bank will calculate the amount owed as the amount owed. High interest rates (usually above 15) are charged proportionally to the amount, so friends must exercise restraint when using credit cards!!