Transfer Your Balance From Another Credit Card To An Aussie MasterCard
Aussie credit cards give you a low interest rate on balance transfers to help you relieve credit card debt. Even after the promotional period expires your interest rate remains lower then many other cards helping to ensure you stay debt free.
You have probably heard about doing a balance transfer. They are becoming a widely used tool to get out of credit card debt. The reason they are popular is they give you a chance to repay credit deficits without paying interest. Anyone who knows even a little bit about finances knows that they biggest pitfall for many consumers is interest. It is hard for people to understand that if they spend $100 and do not pay it off in full at the end of the interest free period it jumps, with interest, to around $120 and upwards every month that debt is carried. This is exactly how many people got into excessive credit card debt. Often when a debt is large making monthly payments does nothing to your principal balance because the interest fees are so costly.
The Aussie credit card offers a low rate balance transfer to help you get out of this debt. You can transfer the balance of one or several credit cards to a new Aussie card for a tiny fraction of the interest rate. That low rate locks in for a promotional period, giving you a chance to actually pay down your debt. The savings on interest alone can help you make extra or larger payments which can also help draw down your credit bill.
Balance transfer with Aussie facts:
* The current rate is 2.99% p.a. for 12 months per annum.
* You can transfer the balances of other credit cards for up to 95% of your credit limit on the Aussie MasterCard.
* Once the six month promotional period expires your rate will revert to the standard low rate for purchases. Currently this rate is 9.99% p.a. for 12 months (reverts to 13.29% p.a.) making it one of the lowest in the industry.
* A balance transfer saves you money, but it also makes your life a little easier by moving all of your bills into one easy account.
* You may only transfer the balance from a non-Aussie credit card.
* Application requirements:
- You must be over 18 years of age
- You must be a resident of Australia
- Your yearly earnings must be at least $15,000 yearly
* Other information you will need to apply for the credit card includes; a drivers license (if you have one), the address and phone number of your employer or your accountant (if you are self employed), information on your income and assets, information on any liabilities like loans and other debts.
* You can apply online, by phone, or in person at an Aussie mortgage broker or Aussie shop.
Using a balance transfer to relieve your debt is a great idea. Just remember that your goal is to actually get out from under the burden of credit cards. It would be easy to get a shiny new piece of plastic in the mail and be tempted to start swiping it for purchases. Before you do that you should pay off your balance transfer so that you do not start incurring higher interest charges. Take your old high interest credit cards and cut them into pieces so you never have to worry about overspending with them again.
Read the official terms and conditions
| Minimum Income | Minimum Age | 18 years of age | |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | Max Credit Limit |
| Annual Fee | $49 | Balance Transfer Fee | |
| Minimum Repayment | Interest Charged From | Purchase Date | |
| Late Payment Fee | Over Limit Fee | ||
| Overseas Emergency Replacement | Overseas ATM Balance check | ||
| Overseas ATM Withdrawal | Foreign Currency Conversion Fee |
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