Is a balance transfer what you€™re after?
Thursday October 2, 2008
Many Australians have a number of credit cards - and they also have the credit card debt to go with it. Statistics show that the average Australian has roughly $3200 credit card debt that they are struggling to pay off. By throwing out your credit card statements, you may be uninformed about what you owe on your credit cards.
To help keep track of your payment dates, interest rates, and fees, a balance transfer credit card might be of assistance. A balance transfer credit card takes the owing balances of other credit cards and transfers it to another credit card.
Banks usually offer balance transfer credit cards that come with more competitive interest rates, fees, and reward programs. With many balance transfer credit cards, there is an introductory period. These introductory periods, typically around six months, can have low interest rates or even 0% interest rates. If you are able to pay off your balance during the introductory period, you will be charged less interest than your previous banks.
Compare credit cards and fill out a credit card application today to find banks that offer the right balance transfer credit card for you.
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