When looking to open a new credit card, you always want the best deal. This great deal will be different for each person and their needs. Some people may want to do a balance transfer so need a special interest rate for that. Others may just be looking for a credit card that has a low interest rate in general. Here we will look the top 5 low rate & balance transfer credit cards.
For balance transfers, the following five credit cards offer the best introductory rates.
- ANZ Balance Visa – This card offers 0% p.a. for 6 months when you conduct balance transfers as well as 14.64% p.a. when you make purchases. You can do cash advances with this card at an interest rate of 21.74% p.a.. This is a rewards card where you earn points as you pay off your balance. It has a $79 annual fee and offers 55 days of interest free.
- BankSA Platinum Visa - Offering 3.99% p.a. for 6 months when you conduct balance transfers as well as 15.99% p.a. when you make purchases. This is the absolute cheapest Platinum card offered in Australia with a $89 annual fee and 55 days of free interest.
- Suncorp Clear Options Gold Visa Card – Offers 0% p.a. for 6 months when you conduct balance transfers as well as 20.50% p.a. when you make purchases. The annual fee is $60 annual fee for the first year ($120 thereafter) and you can join the rewards programme for an extra cost.
- Aussie MasterCard – Offering 2.99% p.a. for 12 months when you conduct balance transfers with 9.99% p.a. for 12 months (reverts to 13.29% p.a.) on purchases as well.
- Bankwest Lite MasterCard – This is the best of the top 5 low rate & balance transfer credit cards. Currently offering 4.99% p.a. for 9 months when you conduct balance transfers as well as a super low rate on all other purchases of 0% p.a. for 6 months (reverts to 10.99% p.a.).
If you want to do a balance transfer, your best bet is the Bankwest Lite MasterCard. With a great introductory rate and the ability to pay off your balance in 9 months with that rate, you can absolutely not go wrong. If for some reason you do not pay off your balance, the ultra low rate of 0% p.a. for 6 months (reverts to 10.99% p.a.) will help you along in paying off the balance. Most credit cards charge twice that on interest so you would still be in good shape if you were not able to pay your card off completely. This list of top 5 low rate & balance transfer credit cards may change from time to time, so always be on the lookout for the best deals.
Related posts:
- Westpac Low Rate Credit Card
- NAB Low Rate Visa Card
- ANZ Low Rate MasterCard
- Top 0% Balance Transfer Credit Cards
- Westpac Low Rate Credit Card
Posted on Friday, November 26th, 2010 at 4:25 pm
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