New South Wales 0% Balance Transfer Credit Cards

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Zero Balance Transfer Credit Cards

When it comes to credit card debt, one of the biggest issues that many Australians face is the massive interest rates that make paying it off so difficult to accomplish. When you consider that making the minimum payment will take several years to pay off most debt on a credit card, it is little wonder that switching the debt load to another card with a lower interest rate has become a very option.

This is especially true for 0% balance credit cards which many companies are marketing to attract those who have racked up high credit card debt.

What is a 0% Balance Transfer Credit Card?

This is generally an introductory rate provided by a credit card company that encourages you to switch your debt load over from your old credit cards. By offering 0%, you can potentially save hundreds of dollars when it comes to paying off your debt. However, the 0% will generally last three to six months and then a far more substantial interest rate will then kick in.

In addition, whatever the standard rate that will start up in three to six months on the debt that you have transferred will apply to any new purchases that you make on the card. So, in using the 0% interest rate, a person will only have a limited amount of time to take full advantage in knocking down their overall debt.

The Benefits of Zero Balance Transfer

There is essentially one big advantage in transferring your old debt to a zero interest rate credit card. However, that advantage will have to be weighed against the potential issues that such cards will bring depending on the standard interest rate that will kick in.  Naturally, you will want to choose a card that has a reasonable standard rate as one that offers 17 to 19% will simply put you back in the same situation as before.

To take advantage of the benefits, you’ll need to be ready to pay down as much of your debt as possible as long as the 0% rate is in effect. Given that many credit card companies offers this type of introductory rate for transferring the debt balance, you can wait until you are financially ready to start paying down large chunks of your debt when switching to the new card.

You will need to transfer your debt immediately to take advantage of the transfer, so be sure to read all the details on the card before making your decision.

A good tip is to transfer your new balance immediately, but still use your old car for new purchases until the balance transfer time has been completed. At that point, you can fully switch over to your new card and start purchasing items if you so desire.

The 0% balance transfer credit card can save you a considerable amount of money when it comes to paying off your debt. Just be sure to get one that has a reasonable standard rate so that you will not rack up as much debt in the future.

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Citigroup Pty Limited

2 Park Street
Citigroup Centre
Sydney, New South Wales 2000
Australia

Global Consumer Group – This group consist of Citibank and Diners Club brands combined offering consumer banking services, including transaction and

Citibank Australia

455 George Street
Queen Victoria Building
Sydney, New South Wales 2000
Australia

Citibank is the largest issuer of credit cards in the world, but offers a number of other services to their customers, including saving accounts, term

HSBC

Level 32, 580 George Street
Sydney, New South Wales 2000
Australia

The Hongkong and Shanghai Banking Corporation Limited is a Hong Kong based Company established in 1865. It is the founding member of the HSBC Group.

MacArthur Credit Union Ltd

52 Argyle Street
Camden, New South Wales 2570
Australia

MacArthur Credit Union Ltd - Offers loans, insurances, saving accounts and financial planning.

Northern Inland Credit Union Limited

481 Peel Street
Tamworth, New South Wales 2340
Australia

Northern Inland Credit Union Limited - Offers loans, insurances, saving accounts, credit cards and financial planning.

Southern Cross Credit Union Ltd

2-4 Commercial Road
Murwillumbah, New South Wales 2484
Australia

Southern Cross Credit Union Ltd - Offers loans, insurances, credit cards, saving accounts and financial planning.

Summerland Credit Union Limited

101 Molesworth St
Lismore, New South Wales 2480
Australia

Summerland Credit Union Limited - Offers loans, credit cards, insurances, saving accounts and financial planning.

Sydney Credit Union Ltd

19 Second Avenue
Blacktown, New South Wales 2184
Australia

Sydney Credit Union Ltd - Offers loans, credit cards, insurances, saving accounts, financial planning and superannuation.

Woolworths Employees' Credit Union Limited

1 Woolworths Way
Bella Vista, New South Wales 2153
Australia

Woolworths Employees' Credit Union Limited - Offers loans, credit cards, insurances, savings accounts and financial planning.

Mortgage Choice Limited

100 Pacific Highway
Level 10
North Sydney, New South Wales 2060
Australia

Mortgage Choice Limited offers home loans, business loans, car loans, insurance options and financial planning.

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