Consumers can save themselves a lot of money in interest charges, by shopping round online for 0% APR (annual percentage rate) credit cards. Considering how much Australians actually use their cards for day to day shopping and purchases they don’t give a lot of thought as to how they might save money with their card. One of the best methods to save is with best balance transfer rates – 0% interest credit cards.
The HSBC Credit Card will help you save while allowing you to take control of your finances with a 5.99% balance transfer offer for the first 6 months plus a $0 annual fee each year. Transfer your balance onto the HSBC Credit Card today
- 17.99% p.a. on purchases
- 0% p.a. for 6 months with 2% handling fee on balance transfers
- $0 annual fee
- 21.99% p.a. on cash advances
How to save money with balance transfer cards with 0% interest
It’s very easy to get carried away with spending on your credit card, without realising just how much interest you are paying until you get your monthly statement. To save money here you could look at getting a balance transfer card.
Best Balance Transfer Rates – 0% Interest Credit Cards are usually introductory offers to entice new customers to a bank or credit provider, but they can be useful for you too. Once you have been approved for a balance transfer card you agree to the balance of debt being carried across from your old card(s) to your new card.
Generally in Australia balance transfer fees aren’t required but you will have to pay the annual fee upfront. But on the positive side the fee payment will be absorbed by the interest saving that you make by having a 0% rate for the introductory period on your new card. This period can range from 6-16 months depending on the provider.
Comparisons
Before you rush off to submit a new balance transfer application, it is worthwhile taking a look round and making some comparisons between the available balance transfer offers – they are not all created equal. Many online sites will provide side by side tables so you can see the features of each card, whilst others provide calculators if you are a numbers person.
Use the method that works best for you, to see what the best value is for you. Once you decide on the provider you will find most applications can be submitted online, but on a note of caution, applicants for balance transfer credit cards are usually required to have a good credit history.
Best Balance Transfer Rates – 0% Interest Credit Cards are very useful tools, however the point of the exercise is to save money and reduce your debt, so take care not to get carried away on a spending spree. Make sure that you make regular monthly payments of at least the minimum amount – any default could result in your introductory period being terminated and the interest reverting to the standard rate.
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- Tips to Help You Pay Off Credit Card Debt
- Top 6 Reasons Why You Need a Credit Card
- Guideline To Make Sure That Your Credit Card PIN Is Safe
- Westpac Low Rate Credit Card
Posted on Wednesday, September 1st, 2010 at 5:49 pm
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