The Westpac 55 Day credit card gives you a lot of time to pay off your credit card debt without spending even one dollar on interest. When you spend on a credit card you basically take out a short term loan from your card issuer.
That loan then has to be paid back, usually with interest. However, if you can pay back your debt within the 55 interest free days you will have financed your purchases for free. This is an excellent way to manage big expenses or to get through the Christmas shopping season. You can even profit a little bit by leaving funds in an interest earning account up until the interest free period ends and then paying your debt off in full.
Westpac 55 Day Balance Transfer Deal
One of the other ways that you could make money with your Westpac 55 Day credit card is by taking advantage of the balance transfer offer. A balance transfer is when you move the debt from one or several credit cards or store cards over to your new card. In doing this you are able to reduce the interest rate on that debt which allows you to pay it off cheaper and faster.
Imagine how much money you could save on your current cards that probably have interest rates in the double digits if you could reduce that rate to less then two percent. That is exactly what you can do with this credit card. All you have to do is move your non-Westpac card debt to the new the 55 Day card and your interest rate will reduce to only 3.99% p.a. for 6 months.
With the money you save in those nine months you should be able to knock out all or a significant portion of your card debt.
Fees And The Westpac 55 Day Balance Transfer Card
The annual fee of just $0 annual fee for the first year ($30 thereafter) is automatically waived for the first year you own the card. After that if you reach a spending limit of at least $10,000 in the previous year on your card the annual fee will also be waived. By using your card for everyday expenses and paying it all back before the end of each interest free period you can easily own this card for free.
Your interest fees, should you wind up paying them, are competitive at 0% p.a. for 5 months (reverts to 19.59% p.a.) variable per annum rate for purchases and 21.49% p.a. variable per annum rate for cash advances. Right now you can take advantage of a zero percent interest rate on purchases for the first five month that you own the card. It does not get much cheaper then that to own a high quality credit card.
Security And The Westpac 55 Day Card
Your identity safety and financial security will never be an issue when you own the Westpac 55 Day card. All Westpac cards are backed by Cardshield fraud protection services. They provide an on line transaction security guarantee as well as 24 hour a day, 7 day a week account monitoring. Should they notice and suspicious transactions or non standard activity on your card they will contact you immediately.
The also employ the most advanced CHIP technology to protect your data from potential fraudsters. Since these cards are backed by either Visa or MasterCard you also have access to the zero liability guarantee offered by each company. Should security be breached you will never be responsible for charges that are deemed fraudulent. You can even opt in to added credit card repayment protection that will cover your card repayments in the even you are unable to work due.
Read the official terms and conditions
Related posts:
- Westpac Altitude Credit Card
- Westpac Low Rate Credit Card
- Lifetime Balance Transfer Offers
- Westpac Low Rate Credit Card
- Maquarie Bank Platinum Visa
Posted on Thursday, November 11th, 2010 at 4:37 pm
You can leave a response, or trackback from your own site.
