Balance Transfer Credit Card Australia

 

 

When you are faced with enormous credit card debt, the smartest thing you can do is open up a new one. This way you can transfer the balance to the new credit card and save yourself from paying a huge amount as interest repayment. A number of banks in Australia offer balance transfer credit cards at 0% annual percentage rate (APR) for a certain initial period.[br]

 

Balance Transfer Credit Card Australia: Types

Here are some of the popular balance transfer credit cards available in Australia:

 

 

 

 

When you are faced with enormous credit card debt, the smartest thing you can do is open up a new one. This way you can transfer the balance to the new credit card and save yourself from paying a huge amount as interest repayment. A number of banks in Australia offer balance transfer credit cards at 0% annual percentage rate (APR) for a certain initial period.[br]

 

Balance Transfer Credit Card Australia: Types

Here are some of the popular balance transfer credit cards available in Australia:

 

• ANZ Low Rate MasterCard features 0% APR per year on balance transfers for 6 months.
• ANZ Balance Credit Card entails 0% APR on balance transfers for up to 6 months
• NAB Low Rate Visa Card features 4.99% APR on balance transfers for up to 6 months
• Aussie MasterCard charges 2.99% APR on balance transfers for the first 6 months
• Citibank Clear Platinum Credit Card offers 0.99% APR on balance transfers for the first 6 months
• Suncorp Platinum Credit Card entails 3.9% APR on balances transferred for life
• Bankwest Lite Credit Card features 1.99% APR on balance transfers for 12 months
• Bankwest Zero Platinum Credit Card charges 1.99% APR on balance transfers for 12 months
• St.George Vertigo MasterCard offers 2.99% APR balance transfer rate for up to 6 months

Balance Transfer Credit Card Australia: Evaluation

The credit card you choose strongly impacts the amount you pay as interest, since half the grocery store purchases in Australia are made using credit cards. Here are some tips to evaluate a balance transfer credit card

• You can compare various balance transfer credit cards on the basis of what the card offers, including car insurance, cash back and airline tickets.
• In-depth research is required to understand other components of cards, such as credit limits, grace periods, interest rates, annual fees and minimum payment requirements. Balance transfer credit cards typically carry low interest rates to lure customers.
• It is important to know the consequences of canceling a balance transfer credit card in terms of its impact on your credit score.

 

It is crucial to note that exclusion of the balance transfer fee is a standard commonly practiced by most Australian banks. However, applicants are required to pay the annual fee upfront.