Find the Cheapest Credit Card Deals in Australia
Although things in Australia are certainly looking a lot better than they were a year or so ago in regards to recession, there are still a vast amount of people suffering.
By taking certain steps however towards finding a cheap credit card, you can make things a lot easier for yourself, and we will look at some of the things you can be doing right now to ease your situation.
1. Pinpoint Your Problem
The first thing you should do is to work out after tax exactly what your total household income is. That way you know precisely what you have available to spend each month.
Then work out what you have to spend each month in bills. Do you have to pay car hire purchase? Are you running a high interest credit card, or a cheap credit card? Include all your household bills.
2. Work Out Where The Problem is
This is where you look at all your monthly outgoings and see if there is an obvious area you can improve on. For instance are you spending a little too much on your credit card? Could you take a packed lunch to work instead of buying out everyday? That kind of thing. This can be a little daunting at first especially if you see some big areas of concern.
3. Except the Problem and Formulate a Plan.
There is no point in ignoring or pretending the problem does not exist. There are things you can be doing right now to save money. One such example is to get a cheap credit card. If you have a large outstanding debt on your credit card, why not have a look at some of the cheap balance transfer offers available on the market. These cards let you transfer your existing credit card debt onto a new card, however instead if paying a higher interest rate you get a special low introductory rate. Be mindful of paying off your credit card debt as fast as possible.
For example if you have a debt of $5000 on card X and your interest rate is 10% p.a Then you will be paying $500 a year on that debt. If you then transfer that $5000 debt onto cheap credit card Y, that offers you 2% balance transfers for 12 months, then in that year you will save $400.
4. Remain Calm
Getting stressed about things is not going to help. You must try and be as methodical as possible. This will enable you to keep organised and not make any mistakes that will actually make your situation worse.
5. Talk About it
If your are married, or have a partner then it’s very important you both work together. As a team you may come up with ideas to help you clear the debts faster. Also, remember that the companies you owe money too are also there to help. It is in their best interest to help you pay your bills, and some organisations are very helpful when it comes to customers facing problems.
Cheap Credit Card Deals Comparison
Rates last updated October 26th, 2016.
- Coles No Annual Fee MasterCard
New offer of 0% for 15 months on purchases, which is valid until 31 December 2016.
October 5th, 2016
- ANZ Low Rate Platinum Credit Card
A new offer of $250 Back and 0% p.a. for the first 6 months on purchases.
October 12th, 2016
- Westpac Low Rate Card
Promotional BT period has been changed from 18 to 16 months and is valid until 30 January 2017.
October 12th, 2016