Comparing Balance Transfer Credit Cards

You should compare 0 balance transfer credit cards just as you would other big purchases. It is important to find a card that has good interest rates and low fees so that you maximise your savings. Other perks and interest rates offered on credit cards value should also not be ignored when making a decision.

Not all 0 balance transfer credit cards are created equal. That is why it is important to compare balance transfer credit cards before you make a decision. Most of the time consumers do not think to shop around for the best deal when they are looking for new credit cards. But, there can be significant savings if you find a card that offers an interest free period on balance transfers. Even if your current rate is low at around 11% you can still save lots of money by moving the balance to an interest free credit card.
The fact is that Australians spend a lot of money on their credit cards. Many of them carry that balance over from month to month. If you used 0 balance transfer credit cards you could save money on all of that interest alone during the introductory period. More importantly though, you can use the extra money you have to pay off your credit card debt which over the long term is the best way to save money.

0 Balance Transfer Credit Cards

• ANZ Low Rate MasterCard – This card offers 0% interest for six months on your balance transfer. Purchases have a 12.49% per annum interest rate with 55 interest free days. The annual fee is only $58 and there is no additional fee for a balance transfer. In addition you gain access to the MasterCard Applause rewards program.
• Citibank Platinum Visa – This card is not free but has a nearly free .99% interest rate for six months on balance transfers. The annual fee is only $42. The interest rate for purchases is 11.49% and you get 55 interest free days. owner also have international travel insurance and the Citibank Instant Benefits reward.
• Macquarie Bank RateSaver Visa Card – The 0 balance transfer credit cards offered here are only good for four months. The annual fee is $50 and there are no interest free days offered. Purchases incur an 11.95% interest rate.
• ANZ Balance Visa Card – This is the only card listed that has a 1% of the total amount transferred fee for the balance transfer. It is also 0% for six months on that balance transfer. Purchases have 55 interest free days and a 13.49% interest rate. Once the balance transfer is repaid owner can enjoy a great rewards program.

Choosing between 0 balance transfer credit cards can be a challenge. If you plan to use your card after the balance is paid off you will need to take into account things like interest free days and other applicable interest rates. A good rewards program may also be valuable to you. One of the things to tabulate is the annual fee and a fee for the balance transfer so that you are certain you still save money including these charges.