Recent headlines:

Balance Transfer Credit Card Comparison

Posted by timothyng on Sep 26th, 2010

When you are looking to do a balance transfer comparison, you will find that there are great savings to be found with Australian credit cards.

If you are trying to lower your debt and current interest rates, a balance transfer is one option to consider. You will find a number of cards listed here that will show you whether it is worthwhile switching your card to take advantage of the rates and features offered.

You will find Australian cards have many rates and features to consider when doing a comparison of credit cards. However the offers on different cards vary and you need to determine which provide the most benefit to you in terms of savings. If you are currently paying a high interest rate on your credit card balance you should probably consider having a balance transfer card.

This simply means you transfer your current balance to a new card that is providing an introductory offer, which is usually a very low rate for a limited period and in some cases can even be 0%. However reducing your interest rate means you can pay your debt quicker, thereby saving you money on your current higher interest rate.

Comparison of balance transfer cards for best Australian credit card deals:

ANZ Low Rate Master Card: This ANZ card is currently offering a short term 0% on balance transfers. The offer is available for everyone, not specifically ANZ customers. The 0% rate on balance transfers applies for six months and has 55 interest free days with 12.49% interest on purchases. It is one of the cheaper cards around with an annual fee of $58.

ANZ Balance Visa Credit Card: If you like rewards cards then this one will appeal to you; because once your balance transfer is paid you will be able to access all of the programme features. This card also offers a zero interest rate for six months on your balance transfer and the standard purchase rate is only 13.49%. Whilst it does have an annual fee of $79 this is offset by the feature rich rewards program.

Citibank Platinum Visa Card: For those customers who enjoy status symbols you will like having this platinum card in your wallet. This card has all the prestige of platinum but none of the cost. With a low annual fee of $42 and 11.49% interest rate on purchases this would be a hard one to pass by. There is also a balance transfer on offer at .99% p.a. for a period of six months.
St.George Vertigo: According to media advertising this is the cheapest balance transfer to be found. The interest rate on both balance transfer and purchases is set at 2.99% for six months. At the end of the term the purchase rate reverts to a low 11.74%. With an annual fee of $55 plus 55 interest free days on your purchases, you wouldn’t really need to think twice about the huge benefits here.

When doing your comparison of balance transfer cards in Australia, don’t just focus on the interest rate. Take into account the length of time offered in the deal and any other fees that might be applied. Do some math and work out the benefits and savings from each card.