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COSL Membership Number: M0009285
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. |
| 0% Introductory Rates for 4 months~1.25 points per $1 spent on purchases~ Comp travel insurance~ Half-price Annual Fee 1st year. |
After 4 months Balance Transfer Rate is 21.49% and Purchase Rate 20.74% |
| 0% Balance Transfer for 7 months ~ Earn 4 Air Miles per $1 spent up to 25,000 Miles ~ Best International Frequent Flyer Program 20 |
The Purchase Rate is 20.99% p.a.~ Annual Fee $229 |
| 1.9% p.a. on Balance Transfers for first 9 months ~ 1 Velocity Point per $1 spent ~ complimentary domestic flights ~ Annual Fee $9 |
Purchase Rate is 20.99% p.a. |
| $0 Annual Fee for first year ~ APR & Balance Transfer Rate 0% p.a.for first 6 months ~ Overseas Travel & Medical Insurance. |
Balance Transfer rate is 20.99% p.a. after introductory 6 months. |
| 0% p.a. for 6 months on Balance Transfers ~ 10% cash back on purchases at BP until 31st July 2012 |
Balance Transfer Rate reverts to 21.39% after 6 months ~ Purchase Rate 20.89% p.a. |
| Transfer to a CUA Platinum MasterCard and you'll enjoy an introductory balance transfer interest rate of 0% p.a. for 9 months1 rev |
0 Balance Transfer Credit Cards
Advantages of 0 Balance Transfer Credit Cards
Australian zero balance transfer credit cards allow 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 0 Balance Transfer Cards
If you are considering a 0 balance transfer 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.
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!
