Credit Card State of the Market Report 2012 Released

CreditCardCompare.com.au has released its new State of the Market report. This first-of-its-kind report gives consumers, journalists and financial professionals a bird's-eye view of bank vs bank competitiveness and an easy view of the leading cards from across multiple categories.

Australia’s credit card marketplace is complex, crowded and competitive, meaning that it’s not always a straightforward process for consumers to uncover the best card. If you don't want to compare the market using a comparison table then CreditCardCompare.com.au’s State of the Market Report is a new option that will come in very handy.

As CreditCardCompare.com.au update their website on a daily basis, the results are fresh and accurate. For instance, if a balance transfer rate changes or an interest rate goes up, then the results in the report will be updated.

“If you want to know what the cheapest credit card is, then you no longer need to siphon through a comparison table. Just go to the market report and it will give you the answer. If you want to know the credit card with the best offer on purchases, you’ll find the answer in the report. Want to compare a card’s annual fee against the market? The report will tell you the average annual fee across the entire market at that precise point in time” said Andy Boyd, co-founder of Credit Card Compare.

The current version is only just the beginning. There are plans to integrate other useful data sets such as the best card to earn Qantas Frequent Flyer or Velocity Frequent Flyer points, the best cash back card and the card with the biggest sign up bonus.