Cut Interest & Keep Rewards with 2.9% for 12 months on Balance Transfers

For those unaware, a balance transfer offer on a credit card allows you to transfer your current credit card balance over and repay it at a much lower interest rate.

In short, the only catches involved are the cost of the new card annual fee upfront, and the concept of ‘purchasing on top of a transferred balance’. You can read more about this balance transfer trap here.
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A Rewarding Plan

As a general rule of thumb, reward credit cards won’t be very rewarding if you more than regularly have to pay interest on your purchases. If you’ve racked up a mountain of purchases and can’t afford to repay them anytime soon, consider a 2.9% balance transfer which gives you a lengthy 12 months to repay.
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Savings Comparison

While it’s an extreme case study, it highlights the very real savings potential of a 2.9% transfer. Using our balance transfer calculator:

• Your current card is the GE Money GO MasterCard. With a balance of $3000, at an interest rate of 29.49%, you:
• Transfer the $3000 to your Citibank Silver Card, which has an annual fee of $69, a regular interest rate of 19.99% and a 2.9% for 12 month BT offer.
• Including the cost of the Citibank Silver annual fee, you’ve saved $743.99 over the span of 12 months, while you’ve still earnt $3000 worth of rewards points on your original rewards credit card.

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You don’t necessarily need a rewards card to transfer from – any card you own with a high balance will suffice. Browse the top 2.9% credit card balance transfers or the official Citibank Silver card offer for more details.

Related posts:

1. Citibank Silver Credit Card – Rewards & 2.9% Balance Transfer for 12 months
2. ANZ Low Rate MasterCard – 0% p.a. interest on credit balance transfers for 6 months
3. Citi Gold Exclusive TV Offer – 2.9% p.a. for 12 months on balance transfers
4. ANZ First Visa – 2.9% On Balance Transfers for the first 12 Months
5. ANZ Low Rate MasterCard Exclusive Offer – 2.9% p.a. for 12 months on balance transfers
6. ANZ Low Rate MasterCard – 2.9% on Balance Transfers for 12 months
7. 4.99% p.a. on Purchases & Balance Transfers for 9 months

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
St George Vertigo	Editor's Choice: Low Interest Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.	2.99% for 6 months (reverts to 11.99%)	20.74%	2.99% for 6 months	$55	55
Coles Group Source MasterCard	The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points	19.74%	21.99%	0% for 6 months	$0	62
Bankwest Zero Platinum MasterCard	Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers	16.99%	16.99%	1.99% for 9 months	$0	55