Save Money with Balance Transfers
Credit card issuers are now using the
low interest balance transfer periods to entice new
customers to purchase a credit card. Although this
is very popular already in Europe and the Rest of
the World it is still a new concept in Australia.
To take advantage of these fantastic offers you need
to choose the right credit cards. Not only are credit
cards with low interest balance transfer periods
easy enough to find, but interest free balance transfers
are also quite common. A better balance transfer rate
will often not even cost you much more, but will usually
be for a shorter period of time than that of a minimal
rate.
The HSBC
Low Rate Credit Card offers a very long interest
free balance transfer period of up to 9 months, and
costs only $39 in annual fees. What's more, that fee
is waived for the first year making it a very cheap
option for immediate credit card debt reduction. With
an ongoing low purchase rate it is proving to be a
very popular credit card.
The Aussie MasterCard and the Citibank
Clear Credit Card both offer similar features
in terms of balance transfers and rates. Both give
you an interest free balance transfer period of up
to 6 months and an ongoing low purchase rate
and give the standard of up to 55 days interest free
on purchases. Where they differ is in the Aussie MasterCard
costing more than the Citibank Clear Card in annual
fees. Also, the cash advance rate of the Aussie MasterCard
is 15.99% p.a. compared to 18.49% p.a. for the Citibank
Clear Card. The Citibank Clear Card has an advantage
for families, however, as it include facility for
an additional 4 cardholders.
The St. George Vertigo MasterCard
has the same interest free balance transfer period
as the Aussie MasterCard and the Citibank Clear Card,
but a much lower ongoing purchase rate while only
costing $45 in annual fees. Not as useful for immediate
credit card debt reduction as the HSBC Low Rate Credit
Card, but this card does offer long term benefits
for those who frequently cannot repay their entire
balance within the interest free period.
Please visit our credit card page for the best
credit cards.
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