How To Get A Free Balance Transfer

Featured Balance Transfer Card

Be diligent in paying your credit card balance and reap immediate rewards. The ANZ Balance Visa Card provides these incentives to users which they can use for shopping. One only has to keep repaying balances and the points will keep on accumulating.

• $79 annual fee
• 14.24% p.a. on purchases
• 0% p.a. for 6 months on balance transfers
• Cash Advance Rate of 21.49%
• Redeem Reward Points for Cashback, Shopping Vouchers and Gift Cards

Click here to read the ANZ Balance Visa terms and conditions

A free balance transfer can save you loads of cash on your credit card debt. Part of the reason people wind up with excessive credit card debt is due to interest.

If you have high debt and only make the minimum payment each month you pay very little to the principal amount of their balance each month. Add to that the fact that each month your balance gains more ininterest it can be nearly impossible to get out from under credit card bills. Free balance transfers are like a get out of jail free card if they are used wisely.

Tips for a free balance transfer:

• There are a lot of cards that call themselves free balance transfer cards that are not really free. Often there are fees associated with the transfer and management of the account. Sometimes it is ok because the fees are much less then the interest you are currently paying. However, there are cards available that do not have any fees, if you can qualify for one in this range you will save even more money.
• Pay attention to the terms of your account. Usually the introductory period for zero percent interest of a free balance transfer is between six and twelve months. Find the one with the longest introductory period.
• Maximise your saving by trying to pay your complete debt within the introductory period. This may mean imposing a strict budget on yourself and making much more then the minimum payment. It will be worth the sacrifice to be debt free without spending your hard earned money on interest.
• Do not use your balance transfer card for purchases. Purchases usually have a different interest rate then the balance transfer. These costly debts will only be paid after your interest free debt is cleared. It is best to put the card in a drawer until after you have paid off your balance transfer.
• Never miss a payment. Promotional offers are only valid if you hold up your end of the contract by paying your bill on time. If you miss or make any late payments the deal will be rescinded immediately and you will be slapped with interest on whatever is left of your transfer. A monthly direct draft to the bill can avoid any errors in your payments.
• Once your introductory period expires you can move any remaining balance to another interest free card. However, continuing to rotate debt this way is not beneficial to your credit file. Eventually it will be difficult for you to qualify for free balance transfer cards. It should only be used as a short term fix.

If you are one of the many people trying to work their way back from credit card debt you could benefit from a free balance transfer. You will still have to pay the money you owe but you will be bale to do it without paying extra in interest. There are many credit card offers that can benefit you in your trip back to financial solvency.

• Comparison of Top 10 Credit Card Offers

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)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0