A number of Aussie consumers could be encouraged to compare credit cards online as the country is set to see food prices rice.

According to a report in the Daily Telegraph, the federal governments carbon tax will eventually lead to more expensive items at the grocery store.

The news provider explained that the tax will leave some of Australias largest retailers with carbon bills of millions of dollars per year.

Indeed, a nationwide survey of 500 retailers revealed that 83 per cent of businesses intend to pass these additional costs onto their customers.

Peter Anderson, chief executive of the Australian Chamber of Commerce and Industry, told ABC Radio that the introduction of the tax will damage the economy.

“The architecture of the carbon tax that the government outlined last week was inherently uncertain in its own right,” he commented.

Aussies concerned about the rising cost of groceries could find out which credit card would suit their needs best by carrying out an online comparison.

This article is brought to you by Mozo Helping you compare credit cards
 

Aussies hoping to reduce the interest they pay on their plastic might want to consider going online to compare credit cards.

This is the advice of YourMortgage, which explained that there are sometimes promotional balance transfer rates offered by providers.

This can help people to reduce the amount spent on interest and could enable Australians to pay off their debts faster.

Individuals struggling to avoid maxing out their plastic might also want to consider changing to a lower limit to reduce the amount they are capable of spending.

Another method of ensuring that repayments are as low as possible is to opt for cards with low-interest rates, rather than to select one with rewards or loyalty schemes attached to them.

Earlier this week, figures published by the Reserve Bank of Australia suggested that families throughout the country seem to be taking steps to consolidate their debt and save money, the AAP reported.

Australian consumers should compare credit cards to find one that most suits their spending habits, it has been argued.

A financial guide by news.com.au notes that many Aussies end up paying more in interest than they need to by not having a card that matches their needs.

It broke down the different types of spenders into various categories including the “savvy shopper” – a consumer who uses their card frequently but always pays it off each month.

“They can search for a card with a long interest-free period,” said news.com.au.

Meanwhile the “average Jo” spender who uses their credit card frequently but never quite pays off the balance was advised to look for a “no frills-style” card with a low ongoing interest rate.

Others, like “the muddler” who gets caught in a “cashflow trap” and ends up building up large debts, were urged to stop using credit in the meantime and consider transferring their balance to a low-interest card.

A regular repayment schedule could then be set up to put the consumer back in control, the news website said.

According to official data, Aussie consumers still lack confidence, with retail sales growing by only 0.2 per cent in May.

Those looking to get on a firm financial footing are urged to compare credit cards.

Writing in Lifehacker’s weekly Loaded column, Angus Kidman points out that by searching around for a more competitive deal Aussies should be able to find that they can obtain a credit card that comes with a lower rate of interest or provides other benefits.

For those struggling under the weight of credit card debt, Mr Kidman advises people to do all they can to ensure they are not a victim of credit card fraud so that they are not “saddled with debt that isn’t yours”.

However, while Aussies may consider getting rid of all their credit cards as an ideal way to sort of their finances, keeping hold of one low rate credit card could be advisable as he states that plastic can prove to be of assistance while travelling.

Meanwhile, Chris Browne, director of Financial Design for Life, recently stated that those on high rate credit cards should use the money received from the government’s bail-out packaged to clear off their debts.

Expensive debt from the Christmas and New Year splurge should prompt Aussies to compare credit cards, an expert has said.

Brontie Chambers, manager of products and member value at Community CPS Australia, told News Limited that an effective means of repaying credit card debt is to transfer the balance to a low interest-rate card.

“You can be paying 18 or 19 per cent on an ordinary credit card but there’s a lot of low interest rates out there to transfer to some as low as three or four per cent,” she told the newspaper.

However, Ms Chambers warned that in switching to low interest cards, bank customers should not be tempted to accept a higher card limit that will encourage them to spend at a higher rate.

She added that if a low balance transfer was not available, personal loans or debt consolidation might be the answer.

Last week a report by the Daily Telegraph suggested that personal debt may increase this year as households face paying up to $76 a week extra in rising living costs.