When you compare credit cards you’re not only bombarded with many offers at once, or even many credit card types at once. You’re also going to find a lot of different issuing banks that you have to choose from. Here at CreditCardOffers.com.au we even break down credit card offers by credit card company for you in case you want to do business with only select companies.

In the grand scheme of things does a credit card’s issuing bank really matter though? Well, that depends on what you’re looking for. In some ways the issuing bank or company is irrelevant. But sometimes it really is worth weeding out certain banks up front (or focusing on specific ones) in an effort to save time.

When Issuing Banks Do Matter When Comparing Credit Card Offers

Here are several reasons (or situations) where the issuing bank or credit card company might be a top priority or at least a tool you can use to narrow down potential offers:

1.    You want a card that will be accepted almost everywhere. — If this is the case you might want to avoid credit card issuers like American Express, which isn’t accepted in as many places as Visa and MasterCard.

2.    You want to earn as many rewards points as possible. — On the other hand, American Express is known for great rewards programmes. So if you’re looking for a rewards card or frequent flyer card you might want to look at their offers first.

3.    You want a credit card through your existing bank. — Some consumers simply prefer keeping their financial matters with one institution they trust — bank accounts, mortgages, car loans, credit cards, etc. If you’re comfortable with your current bank (whether that be ANZ, NAB, HSBC, or any other) then go ahead and check out their credit card offers first. If you find one that meets your general needs and expectations then you can contact your bank representative with any questions before applying.

4.    You want to transfer your existing balance(s). — If your primary reason for wanting a new credit card is to transfer another balance, the issuing bank matters. Generally you’re not allowed to transfer a balance from one card to another when they’re both issued by the same bank. In this case your motivation for applying tells you which banks to weed out rather than which ones to look at first.

5.    You want perks specific to an individual bank. — While some perks are pretty universal among banks (like international travel insurance), some have their own special programmes. For example, Citibank offers “Citibank World Privileges” for some of their cards, and they’re clearly only available through that bank. If their discounts and benefits would suit you better than those from another credit card company, then check their offers first to see if they have one that fits your needs.

While you might not immediately think to weed out credit card offers based on the issuing bank, there are definitely some reasons you should consider doing so. By knowing what you’re looking for you can ignore offers from banks that don’t provide those things and focus your attention on those that do, saving you time in your hunt for a new credit card.