New Year Debt Consolidation Advice

It’s that time of year – Christmas and New Years is over, and it’s time for a fresh start back to work for 2009. Over the holiday period, you might have taken a vacation, funded presents or simply gone out frequently which in turn has taken a toll on your credit balance.

Repaying the purchases is bad enough – the last thing anyone needs is excessive interest repayments to stack up against them. This article will guide you through the best balance transfer offers for 2009 to help you repay the absolute minimum on your debt.

0% p.a for 6 Month Balance Transfer

St George are renowned to be the most generous and competitive of the ‘big banks’, and their Vertigo MasterCard is no exception. The Vertigo features 0% on balance transfers for 6 months at a modest $55 annual fee.
For those unaware, a “0% for 6 month balance transfer” basically means you can take your credit card balance which you are currently paying 10-25% p.a for, and transfer it over to your new Vertigo card and spend the next 6 months repaying a 0% APR .

Balance transfer information and traps:




• The balance transfer itself is free – the only cost involved will be the upfront annual fee.
• While it’s possible to spend on a credit card which has a transferred balance on it, it is very unwise to do so. Any money you put towards repaying the balance will pay off 0% balance first, thus prolonging the purchase you’ve made which may sit on your card for several months at a high interest rate.
• Citibank Personal Credit allows you to also transfer your personal loan and store card balances over. Read on for more information.

$0 Fee and 2.9% for 6 Month Balance Transfer

While the HSBC Low Rate Card isn’t spectacular as a regular low interest credit card, it is an amazing tool for cheap balance transfers. Couple $0 annual fee for the first year with 2.9% on balance transfers for 6 months and you have in essence a very cheap balance transfer credit card – after the balance transfer period is over you can simply cancel your credit card before the next annual fee sets in.

4.9% p.a and ‘for Life’ Balance Transfer

Need longer than 8 months to repay your purchases? While you won’t be able to find more than 8 months for 0% p.a, you have the option of 7.9% p.a for as long as your account remains current.
Citibank Personal Credit offers 7.9% for life on balances transfer, a $69 annual fee, and the ability to bundle various forms of finance into one, single low rate balance.
While other lower ‘for life’ offers exist there are a couple of subtleties associated.

If you undertake a ‘for life’ balance transfer for offer in the first place, it’s assuming that you’ll take multiple years to pay it off. This means you’ll be paying an annual fee more than once. Also, each card except for Personal Credit which offers a ‘for life’ balance transfer option have stricter application requirements as they are platinum and generally prestigious cards.
Take this into account when comparing different For Life Balance Transfer offers.

The Best 2009 Debt Consolidating Credit Card Offers

• 0% for 6 Months – Click here to be redirected to the official Citibank Platinum Visa Credit Card product page.
• 2.9% for 6 Months – Click here to be redirected to the official St George Vertigo product page.
• Debt Consolidation loan – More info about Fox Symes or if you want to be redirected to the official website product page.

We wish you the best for your new years resolution and for the cheapest debt consolidation on the market.

Related posts:

1. Debt Consolidation Advice – Information and Services
2. Personal Loans vs. Credit Cards In Debt Consolidation
3. Advice on How to Cut Credit Card Debt
4. Credit Card Debt Consolidation Loans
5. Credit Card Debt Consolidation
6. ANZ Debt Consolidation Using A Balance Transfer Or Personal Loan
7. Fox Symes Debt Consolidation – foxsymes.com.au

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