Credit Card Promotions
Posted March 5th, 2010 and last modified December 30th, 2011
Best Credit Card Promotion
The Bankwest Breeze MasterCard is currently the best low interest rate and balance transfer credit card promotion in Australia. This card was Awarded the ‘Cheapest Credit Card’ and ‘Cheapest Balance Transfer’ by Money magazine 2010 and is helping many customers to save money and manage their debt.
- $69 annual fee
- 10.99% p.a. on purchases
- 4.99% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.99% p.a.
- 55 days interest free
- Minimum Income Requirement of $20,000 p.a.
- Minimum $15,000 income required to apply
Credit card companies will use special promotions to lure new customers, and many offer exciting low interest rates or other perks. However, the wise consumer will look at the fine print carefully to avoid becoming a victim of a bad money choice later! Read about the specific tips to look for in deciding between credit card promos.
Credit card promotions are designed specifically to tantalise credit customers and earn their business. There are a wide variety of credit products offered to get the consumer’s attention and provide new clients for the credit card company!
Some of these may include low (or no) interest on balance transfers or purchases for a specific time period, in order to get the account started. These credit card promos can be a fine way to save money, but they also require a full understanding of the terms before opening the account to avoid problems later!
Silly (But Effective) Promotions
Some other “credit cards promos” will offer such things as free tee shirts or other trinkets (often to younger people or students) in exchange for a completed credit card application. In many instances, they do not even review the application for high interest rates or other potential problems in their haste to receive a free shirt! Avoid these “promotions” and take advantage of the ones that really offer something that can help you financially.
Low (Or No) Interest… For How Long?
Most other credit card offers give very competitive initial rates that will let the new customer borrow money for free, or even pay off another credit card for free with a balance transfer. This low rate is known as a “honeymoon rate,” and it will usually only last between three and twelve months. When the credit card promo is over, so is that great interest rate!
Watch Out For The Details
When dealing with a credit card promotion with a honeymoon rate, be sure to look out for the following important tricks. The credit card company may only allow payments to go toward the debt with the lowest interest (called “allocation of payments”), so once you have decided what you will use the honeymoon rate to purchase, do not use that card again until the previous balance is completely paid off.
In addition, watch out for special fees for transferring balances, maintenance fees, or other similar charges that can turn a low interest rate into an expensive mistake very quickly. Remember, too, that cash advances will almost never be included at a low introductory rate! With these tips in mind, it can be easy to take full advantage of a credit card promo, without paying dearly for it later.
Check out today's featured offers:
| Westpac Low Rate | Citibank Clear Platinum | Qantas AMEX Discovery | ANZ Platinum |
 |
 |
 |
 |
0% p.a. for 6 months on purchases & balance transfers |
2.9% p.a. for 12 months |
$0 annual fee Up to 10,000 Bonus QFF Points |
0% p.a. for 6 months on purchases & balance transfers |
|
|
|
|
Subscribe to our newsletter and get "The Ultimate Guide to Balance Transfers"
If You Like This Post...
Get all the latest deals, guides and loopholes go in Credit Card Finder's free bi-monthly email. Don't miss out - join the thousands who get it emailed!
Ask A Question