New South Wales Low Interest Credit Cards

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Low Interest Credit Cards

When it comes to finding the right low interest credit card Australians need, the trick is to go through all the offers until they find one that best suits their needs. A low interest credit card however does exist and is being offered to Australians who want to save money on the balance that they have built up on their card.

But what exactly is a low interest credit card and just what are the benefits and pitfalls to having it as part of your finances?

What are Low Interest Credit Cards?

Essentially, a low interest credit card is exactly what it says it is, a credit card that charges a lower amount of interest than a standard credit card. The exact interest rate charged will vary depending on the company that issued the card, but for the most part they offer a very low rate as compared to standard issue credit cards.

For many, having a very low interest rate will offer certain advantages that may be quite attractive. However, these advantages may also be paired with certain issues that could be difficult to work into your overall budget.

Advantages and Disadvantage of Low Interest Credit Cards

Low Interest Rate: The most obvious advantage is also what the card itself is named after. A lower interest rate means that you pay less each month on the balance that is carried over. Depending on how long the low interest rate lasts, you may save hundreds of dollars or more.

Transfer: A low interest rate card is an excellent resource to transfer the balance from your higher interest rate cards so that you can save money. You will not only pay a lower interest rate, you will also get rid of excess credit cards in the process.

However, while the advantages of paying a lower interest rate really stand out, there are some considerations you will need to make as well. This is especially true if you are trying to transfer balances over from other cards.

Time Limit: In many cases, the lower interest rate will not last for very long. This is especially true if it is part of an introductory rate that lures you into owning the card. This means that if you were planning on transferring the balance or paying for particular items, you will only have a certain period of time before the lower interest rate goes away.

Fewer Rewards: Generally speaking, lower interest credit cards Australians use have little to no other rewards or other incentives that come with the card itself. This may not be all that bad considering that you are saving money each and every time you use the card, but if you were interested in particular rewards such as frequent flyer miles you will be missing out.

Overall, having a lower interest credit card can save you a considerable amount of money although they often have stricter rules about balances that carry over. So, while you will need to be more careful, the potential savings makes this the type of card that you want to carry in your wallet.

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Berrima District Credit Union

411 Bong Bong Street
Bowral, New South Wales 2576
Australia

Today Berrima District Credit Union operates as a credit union that provides financial products and services such as loans, Visa credit cards and

Coastline Credit Union Limited

64 Elbow Street
West Kempsey, New South Wales 2440
Australia

Coastline Credit Union Limited is a state credit union in West Kempsey servicing loans, mortgages, personal loans, credit cards, savings accounts,

Collie Miners Credit Union Ltd

217 Clarence Street
Level 7
Sydney, New South Wales 2000
Australia

Collie Miners Credit Union Ltd is a member owned cooperative and financial mutual which is 100 percent committed to its members -maritime, mining and

Community Alliance Credit Union

38-40 Young Street
Wollongong, New South Wales 2500
Australia

Based in Wollongong, Australia, Community Alliance Credit Union Limited was incorporated in 1972.In 2003; Community Alliance Credit Union was formed

Community First Credit Union Limited

Shop P003, Podium Level
Bankstown, New South Wales 2200
Australia

Community First Credit Union is the largest community based Credit Union established in 1959 in Auburn, Australia and provides sound and well managed

Community Mutual Ltd

Cnr Rusden & Dangar Streets
Armidale, New South Wales 2350
Australia

Founded in 1970 and based in Armidale, Australia, The Community Mutual Group is a public company formerly named as New England Credit Union Ltd.

Credit Union Australia Ltd

83 York St
Sydney, New South Wales 2000
Australia

Credit Union Australia Ltd or CUA is a Public Company, ranked 589 in the top 2000 companies in Australia.

Select Encompass Credit Union Ltd

59 Buckingham Street
Surry Hills, New South Wales 2010
Australia

Select Encompass Credit Union is a community based banking organization whose main products include Loans, Saving Accounts, Credit Card, Financial

Holiday Coast Credit Union Ltd

1 Commerce Street
Wauchope, New South Wales 2446
Australia

Holiday Coast Credit Union Ltd offers loans, insurance, saving accounts, credit card and financial planning.

Horizon Credit Union Ltd (Horizon Bank)

27 Stewart Street
Wollongong, New South Wales 2500
Australia

Horizon Credit Union Ltd offers loans, insurances, saving accounts, financial planning and credit card.

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