Browsing Victoria » Credit Cards » Balance Tranfer Credit Cards
Related Categories: Credit Cards, 0% Balance Transfer Credit Cards, 0% Purchase Credit Cards, Business Credit Cards, Frequent Flyer Credit Cards, Gold Credit Cards, Platinum Credit Cards, Low Interest Credit Cards, No Annual Fee Credit Cards, Rewards Credit Cards
There is no doubt that credit cards can be quite helpful in getting the things you need sooner than saving up for them. For many Australians however, the interest rate on their credit cards can be quite sizeable which makes paying off their debt problematic. In fact, paying the minimum level each month and not making any more purchases on the cards will take years, if not decades to fully pay off depending on the interest level.
One potential solution is transferring the debt to another card that offers a greatly reduced rate. In fact, many of these balance transfer credit cards offer an introductory rate close to 0% which can save you hundreds, if not thousands of dollars in paying off your revolving debt.
A balance transfer credit card is like any other credit card except that it offers an introductory interest rate that is far lower than standard rates. In fact, the companies that use this particular interest rate have designed their services to seek out those who have large credit card debt that can be transferred over.
Once you are approved for the card, all you need to do is transfer the balance from your old credit card to your new one. Depending on the overall credit limit, you might be able to transfer the debt from several cards to your new one so that you will pay less in interest rates starting right away.
The advantages of using a balance transfer credit card start with the significant reduction in your debt from the moment it is under the new interest rate. In order to take full advantage, you will need to start paying down on your debt quickly before the standard rate kicks in. However, if you have selected a card that has a lower standard rate than the one you are currently paying, then that is an additional advantage.
Time is your main disadvantage as most Australians that carry debt from their old credit cards cannot pay off all of it before the standard rate sets in. However, even if you only pay off a good portion of it, you will save a considerable amount of money.
One aspect you will need to watch out for is making new payments on your card. The goal of a balance transfer is to lower the debt that you currently owe and keep that going until it is paid off. The more you add through new purchases means the more debt you will need to pay off as well. It takes discipline to manage your new purchases, but if you can keep them to a minimum you will be able to pay off your debt sooner.
Overall, the purpose of having balance transfer credit cards is to reduce your overall credit card debt and put you on the right financial path. The better you can manage your purchases and make substantial payments on what you owe, the more having a low introductory interest rate will work for you.
The Bendigo Centre
Bendigo, Victoria 3550
Australia
Bendigo and Adelaide Bank Limited came into existence in 2007, when the merger between the Bendigo Bank and Adelaide Bank took place.
Level 5, 31 Queen St
Melbourne, Victoria 3000
Australia
Defence Bank Limited started operations in 1975 as Defence Force Credit Union Limited and continued under that banned until 2012, when its name was
222 High Street
Kew, Victoria 3101
Australia
BankMecu banking products include home loans, car loans, personal loans, business loans, mortgage loans, credit cards, insurance products,
Level 28, 360 Elizabeth Street
Melbourne, Victoria 3000
Australia
Members Equity Bank Limited, also known as ME Bank is a national bank of Australia, with its headquarters in Melbourne. ME Bank was established in
800 Bourke Street
Docklands, Victoria 3008
Australia
NAB - National Australia Bank head office featuired in the Australian Financial Services Directory
117 Camberwell Road
Hawthorn East, Victoria 3123
Australia
Victoria Teachers Mutual Bank offer wide range of banking products, including transaction and saving accounts, term deposits, credit cards, personal
150 Collins St
Melbourne, Victoria 3000
Australia
Westpac transaction accounts, debit, credit and travel cards, loans – personal and car, insurance products, share trading facilities, financial and
766 Elizabeth Street
Level 6
Melbourne, Victoria 3000
Australia
Pulse Credit Union Limited - Offers loans, insurances, saving accounts and financial planning.
11 Stanley St
Wodonga, Victoria 3690
Australia
WAW Credit Union Co-Operative Limited - Offers loans, insurances, savings accounts and financial planning.
400 King William Street
Adelaide, South Australia 5000
Australia
Credit Union SA - Find loans, credit cards, insurance
Level 2, 5 Davidson Terrace
Joondalup, Western Australia 6027
Australia
McKinley Plowman is a leading firm of accountants in Perth.
259 Queen St
Brisbane, Queensland 4000
Australia
Bank of Queensland Limited is one of the oldest financial
The Bendigo Centre
Bendigo, Victoria 3550
Australia
Bendigo and Adelaide Bank Limited came into existence in
2 Chifley Square
The Chifley Tower
Sydney, New South Wales 2000
Australia
Known widely as the specialist banking service provider, BOQ
Level 4, 2-12 Macquarie St
Parramatta, New South Wales 2000
Australia
AMP Bank Limited is an Australian financial institution that
(4736 Finance Enquiries since 27-04-2015 05:16PM)
10/833 Collins St
ANZ Centre
Melbourne, Victoria 3000
Australia
Australia and New Zealand Banking Group Limited, also known
(1858 Finance Enquiries since 28-04-2015 02:16PM)
16–20 Barolin St
Bundaberg, Queensland 4670
Australia
Auswide Bank Ltd, formerly known as Wide Bay Australia has
(1174 Finance Enquiries since 28-04-2015 02:52PM)
259 Queen St
Brisbane, Queensland 4000
Australia
Bank of Queensland Limited is one of the oldest financial
(1285 Finance Enquiries since 28-04-2015 03:13PM)
Level 5, 350 Collins Street
Melbourne, Victoria 3000
Australia
Bank of New York Mellon Australian services include
(1261 Finance Enquiries since 30-08-2015 03:46PM)
Preparing for retirement is a challenging thing for most people. It’s so easy to get caught up in the present that you forget about your financial well-being in the future. The unfortunate thing is that most people do not spend enough time planning for retirement.
The forex market is the most active and liquid exchange platform in the world. Similar to the ASX, the forex market allows investors to trade security instruments; specifically, forex traders deal in fiat currency. this paper discusses profiting from currency exchange fluctuations in the Forex
Looking to cut inefficiencies in your business? Of course you are, or at least you should be. Cloud computing allows you to run your small business more efficiently while saving you time and money, read on to see how Cloud Computing can help your business boost it's output.