There are many balance transfer deals that let you pay down debt without paying high interest fees.
The choice between these cards comes down to the amount you have to transfer, the amount of time you need to pay it off, and your other credit card needs. This is a great option that when used with diligence can save piles of money.
Some of the best balance transfer deals are available right now. These deals are a tactic that credit card companies use to get your business. The idea is that if they offer you a low rate on balance transfers you will jump on it so you can save money on interest fees. In turn they expect that you will incur some interest or not pay off your transfer prior to the expiry of the introductory rate, earning them a sweet profit. That being said, if you can take advantage of these introductory rates and pay off your transfer in time you save a lot of money. Once it is all said and done you will have paid off other credit card debt, saved money on interest fees, and have a new valuable credit card in your pocket.
Balance transfer deals
- Citibank Platinum Visa Card – The Citibank card offers a balance transfer rate that is next to nothing at only 0% p.a. for 6 months. If your transfer is small enough to pay off in six months this is a great choice that allows you to pay off the debt almost for free.
- St.George Vertigo – The Vertigo card is unique because it offers you a low interest rate on balance transfers and purchases. In both cases your interest rate is only 0% p.a. for 12 months. If you need a card to spend on and do a balance transfer this is a great choice. Just make sure to pay off both balances prior to the expiration of the introductory rates.
- Bankwest Breeze MasterCard – The Bankwest card is one of the best balance transfer deals around because it gives a low interest rate of 2.99% p.a. for 9 months. That is a long time to carry that low rate and should allow you to pay down even the steepest credit debt. Even after that rate expires you still have a great card that only has a 0% p.a. for up to 10 months (reverts to 11.99% p.a.) interest rate on purchases.
- Bankwest Zero Platinum MasterCard -This card has the same balance transfer rate as the one listed above, 2.99% p.a. for 9 months. It does carry a slightly higher interest rate at 17.99% p.a. for purchases but has $0 annual fee as well as Platinum level rewards.
Balance transfer deals are a sort of get out of debt cheap card. If played wisely you can reap great rewards by taking advantage of any of these excellent offers.