Balance Transfer your Credit Card

Finding it hard to reduce your credit card balance, you might want to consider balance transferring your credit card to help.

StGeorge Vertigo MasterCard
	The low rate credit card for those who love to shop 2.99% p.a. on balance transfers for up to 6 months**. A low ongoing variable interest rate on purchases - currently 12.49% p.a. Instant discounts and added extras with St.George Instant Benefits
Purchase Rate Cash Rate Interest Free Annual Fee Balance Transfer 12.49% 21.24% 55 days $55.00 2.99% for 6 months

		Purchase % p.a.	Annual Fee	Balance Transfer
	HSBC Credit Card 0% p.a.balance transfers for the first 6 months - $0 fees for the life of the card	16.99%	$0.00	0% for 6 mths
	ANZ Balance Visa The credit card that rewards you for reducing your balance	14.24%	$79.00	0% for 6 mths
	Low Rate MasterCard® A low rate of 13.24% p.a. 55 days interest free, Design your own card.	13.24%	$58.00	0% for 6 mths
	Citibank Clear Card 0% for 6 months on Balance Transfers	11.99%	$65.00	0% for 6 mths
	Citibank Clear Platinum Card Apply now and get 0.99% on balance transfer for 6 months.	11.49%	$99.00	0% for 6 mths

Balance transfers allow you to get ahead on repayments while getting a better interest rate in the long run. If you choose a low interest credit card you will benefit from the lower ongoing interest charges, you can also lower the annual fee and save on extra banking charges

What is a balance transfer?
A balance transfer is a feature of a new credit card which applies to the beginning period of its life. During the balance transfer period a lower interest rate is applied to debt, often for 6 months or more.

Which Credit cards offer Balance transfers?
Not all credit cards offer balance transfer periods. When you’re looking for balance transfers consider the time period as well as interest rate for your situation. If a card offers 0% interest over a short period of time, you might be better with a 1-3% over a longer period.

How do you apply for a balance transfer credit card?
When you begin your online credit card application, you will be asked to provide your credit card details if you want a balance transfer applied to the new credit card application. You just need to apply for a credit card that does offer a balance transfer period. Find the card with the desired balance transfer rate and click apply. You will be taken to the credit card application form which can be filled out online.

What do I need to be aware of when transferring my credit card balance?
Make sure you cancel your old credit card; you don’t want to continue spending on two cards if you’re trying to reduce your debt. Check the balance transfer terms to see if you can us the credit card while in the balance transfer period. Check for any fees incurred for using the balance transfer period. Pay more than the minimum repayments during the balance transfer period and repay the balance within the period offered to gain the most value.

Transfering your balance
There are many balance transfer credit cards offered from a wide variety of Australian lenders. Changing your credit card for a lower interest rate is a wise descision because it will save you money!

Balance transfers can offer initial zero interest periods when you change cards. The more money you owe on your credit card the more you can benefit if you are willing to change. The balance transfer period will apply for a period of 6 months or more depending on which card you apply for..

 

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Low Rate Cards with Competitive Interest Rates
10.75%	Bankwest Lite MasterCard A low Rate , Stress Free Credit Card!
13.24%	Low Rate MasterCard® A low rate of 13.24% p.a. 55 days interest free, Design your own card.

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