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2. Why Get a Credit Card?

Every month Australians use credit cards to make around 179 million transactions worth $24.3 billion. With more than 7 million credit cards in use in Australia, it’s important to look at some of the most common reasons people get a credit card, including:

  • Online shopping
  • Safety
  • Interest free days
  • Travel and overseas purchases
  • Rewards
  • Contactless payments
  • Building credit history; and
  • Balance transfers

The following section gives an overview of these eight factors so that it is easier to see the benefits credit cards can offer and how and why they are used.

Please keep in mind that some of these features are also looked at in more detail in later sections of the course.