Which banks are cutting credit card rates?

Most credit card interest rates are not being cut along with RBA rate cuts so consumers have to shop around and compare deals to get a good value credit card suited to their needs.

The average credit card rate is about 17 per cent. However credit card rates range from eight per cent to 26 per cent.

Some financial institutions, including bankmecu, Quay Credit Union, Bendigo Bank and Hume Business, have cut credit card rates this year.

Source: Herald Sun