Find out where to secure a credit card balance transfer or life. Grasp the importance of applying now while these offers are still available.
Featured Balance Transfer Credit Card Offer
Stop beating the red light on credit card avenue by transferring your balances to ANZ Low Rate MasterCard. You can save on interests with its low balance transfer and purchase rates and low annual fee.
- 0% p.a. for 3 months (reverts to 13.24%p.a.) on purchases
- 0% p.a. for 3 months on balance transfers
- $58 annual fee
- 21.49% p.a. on cash advances
Featured Longterm Balance Transfer Credit Cards:
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual Fee | Cash Advance Rate (p.a.) | |||
|---|---|---|---|---|---|---|
 ANZ Low Rate MasterCard – Balance Transfer |
Consolidate your debt with a low balance transfer offer for the first 18 months. | 0% for 3 months (reverts to 13.24%) | 0% for 3 months | $58 | 21.49% |   |
 ANZ First Visa Credit Card |
The credit card you can just bring along, take out, use and never have to worry about. | 0% for 3 months (reverts to 19.24%) | 0% for 3 months | $30 | 20.99% | |
 Bankwest Breeze MasterCard |
An amazing introductory offer on purchases and balance transfers for 12 months. | 10.99% | 4.99% for 12 months | $69 | 21.99% | |
Making a credit card balance transfer for life allows you to shift an existing debt to a lower rate of interest that will apply until your debt is completely paid off. At the moment, the Citibank Platinum Credit Card is offering 4.9% for the lifetime of the debt. If your debt is large, this can easily save you hundreds of dollars on interest charges; maybe even thousands.
A lifetime balance transfer offer is designed to help those consumers whose debt is beyond the scope of a six or twelve month offer period. Taking too short a period can lead to problems if the debt is not repaid in full by the expiry date and the interest rate reverts to the regular one for purchases. In some cases, it could even shoot back up to the cash transaction rate of around 20%. It is therefore important to make sure you analyse your existing finances and the likelihood of your being able to pay off your debt in full within a specific time period if you are looking at six or twelve months.
The situation is changing at the moment as the economy starts to pick up, with an increasing lack of 0% six month deals, and more deals appearing for twelve months. The BankWest Lite MasterCard is offering twelve months at 1.99% in its standard, God and Platinum versions, and the ANZ Low Rate MasterCard is offering twelve months at 2.9%.
Apart from these, the market is nowhere near as generous as it was several months ago and making a credit card balance transfer for life is not as easy as it was. If you do have a large debt that does require more than twelve months to sort it out, then now is the time to make an application and secure that lifetime rate while it still exists.
Making a credit card balance transfer for life
The best way to make a balance transfer application is when you apply for the credit card, because there will be a page specifically for this purpose. This is important because although the offer is for the lifetime of the debt, you will have only 90 days or sometimes less to initiate the transfer before the offer is revoked. This is one of the reasons you must read credit card fine print. You must also make sure when you make a credit card balance transfer for life that you do not spend on your card whilst any transferred balance still exists. If you do, then your purchases will build interest at the regular rate untouched by any repayments you make until your transfer has been fully cleared.
Related posts:
- A Guide To Lifetime Balance Transfer Credit Cards
- Benefits to Demand with 0 Balance Transfers Credit Card
Posted on Monday, March 29th, 2010 at 11:15 am
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