Tasmania Low Interest Credit Cards

Related Categories: Credit Cards, 0% Balance Transfer Credit Cards, 0% Purchase Credit Cards, Balance Tranfer Credit Cards, Business Credit Cards, Frequent Flyer Credit Cards, Gold Credit Cards, Platinum Credit Cards, No Annual Fee Credit Cards, Rewards Credit Cards

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.

Results

MyState Bank

144 Collins Street
Hobart, Tasmania 7000
Australia

MyState Bank Limited is an Australian financial institution with its headquarters in Hobart, Tasmania and predominately operates through the state of

Featured Listings

  • Clever Fitness Finance

    B6, 66 Kennedy Drive
    Cambridge, Tasmania 7170
    Australia

    Clever Fitness offers fitness equipment finance Australia

  • Community First Credit Union Limited

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

    Community First Credit Union is the largest community based

  • 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

  • Community Alliance Credit Union

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

    Based in Wollongong, Australia, Community Alliance Credit

  • Credit Union Australia Ltd

    83 York St
    Sydney, New South Wales 2000
    Australia

    Credit Union Australia Ltd or CUA is a Public Company,