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Credit Cards
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Find all the features listed to make the best choice possible.
 0% Purchase Rate for 3 months ~ 0% Balance Transfer rate for 3 months ~ Low Annual Fee ~ Up to 3 free additional cardholders. |
 Balance Transfer rate reverts to 20.99% after 3 months. |
| 0% Intro Rate and low ongoing Interest Rate 13.24% ~ 0% on Balance Transfers for first 3 months ~ 3 free additional cardholders. |
Balance Transfer rate reverts to 13.24% after 3 months. |
| Low Variable Rate 13.24% p.a.on purchases~ 0.99% p.a. on Balance Transfers for 12 months~ Low Annual Fee $55~ 1 extra cardholder. |
No Rewards Program or Privileges |
| 0.99% Balance Transfer for 6 months~Amplify Rewards points on everyday purchases ~ Or earn Qantas Frequent Flyer points instead. |
Balance Transfer Rate reverts to 20.74% after 6 months |
| Low Interest Rate~3.99% p.a for 6 months on Balance Transfers~Complimentary Insurance~Low Annual Fee for Platinum card |
After 6 months the Balance Transfer Rate reverts to 21.49%. |
| No Annual Fee EVER ~ 2.9% p.a. Balance Transfer Rate for 6 months ~ Low Purchase Rate 18.99% p.a ~ Choice of colours!
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Balance Transfer Rate reverts to 20.99% p.a.after 6 months. |
| Low Balance Transfer Rate 1.9% p.a.for 9 months~20,000 bonus reward points~Complimentary travel insurance & other Privileges. |
Annual Fee $199 ~ Balance Transfer Rate reverts to 21.74% p.a after 9 months. |
| Low Introductory 9.99% rate and Ongoing Interest rate 13.29% ~ Low Rate Balance Transfer offer 2.99%~ Low Annual Fee. |
No Rewards scheme |
| 2.9 p.a. for 12 months on Balance Transfers ~ Low Purchase Rate 11.99% p.a ~ 4 additional cards free ~ Free Travel Insurance. |
After 12 months the Balance Transfer Rate reverts to 21.74%. |
| 0.9% p.a. for 9 months + no annual fee will be charged in the first year, for subsequent years, you will be charged an annual fee |
The Purchase Rate is 20.99% p.a. |
Balance Transfer Credit Card Offers
An Australian balance transfer credit card allows users to consolidate their debts onto one card without paying any interest for a period of time - usually between 6 and 15 months; during this time you can clear the new principle debt completely without paying any interest.
This is attractive to people who have debts on other credit cards and are paying high interest rates (often around 20%) because these debts may be growing larger all the time; with 0 balance transfer cards you can "buy" a little time on your debt without it growing, helping you to get your personal finances in order.
Potential Negatives of Balance Transfer Credit Cards
If you are considering a balance transfer credit card you need to be committed to clearing the debt within the introductory period. The penalties for not paying off the transfer amount within the specified period can be high interest rates on the remaining balance.
You also need to be alert. Read the small print and find out what ALL the other features of the card are – including all fees and penalties.
There will be a fee for making the original transfer as it deters people from "surfing" through the various deals and changing each time they expire. The fee is usually a percentage of the balance to be transferred, but it may be capped.
Finally you need to be disciplined. Many of these cards incorporate high interest rates for making new purchases.
Bear in mind that if you have a bad credit rating from racking up large debts on other cards your application for a new card may be declined.
What about Balance Transfers Cards to Make Purchases On?
Some balance transfer cards are tailored especially so that you can make purchases on them too, without paying exorbitant interest rates.
This is another piece of "bait" that the credit providers use to entice you over to their cards.
If you are considering one of these cards it's often easier to opt for a card where the balance transfer rate and the introductory low APR expire at the same time so that you don’t have to manage payment of two debts at different rates. Always check what happens to the rates after the expiry periods too.
The Lower Bills Promise
We can't promise you'll be approved but we can promise to provide you with the right information so that you apply for the best credit cards possible!
