Save Money With Low Interest Rate Credit Cards
Posted August 26th, 2009
and last modified July 2nd, 2010
Featured Low Interest Credit Card
Get a low rate of 12.24% p.a. on your retail purchases with Suncorp Clear Options Standard. With this, you’ll also get a generous credit limit of up to $20,000 as well as low annual fees plus privileges and special offers.
- $39 annual fee
- 12.24% p.a. on purchases
- 1.9% p.a. for 12 months on balance transfers
- Cash Advance Rate of 17.99%
- Generous credit limits of up to $20,000
Click here to read the Suncorp Clear Options Standard Visa Card terms and conditions
If you are looking to save money then low interest rate credit cards are something you should consider more closely. As it stands, most of us are using credit cards these days. We have simply become used to these handy cards and can’t imagine life without them. The strong point about these low interest rate credit cards is they have – yes, you’ve guessed it – low interest rates!
The thing is, if you use your card for a lot of purchases, then it is in your interest to choose a card with low interest fees because a few percentages can make a hell of a difference on the bottom line for you.
Do your homework and save money – hundreds a year – by choosing a low interest rate credit card:
I’m not kidding you! If you are prepared to spend a couple of hours today to find a good card, then you can potentially save already hundreds come Christmas this year. How much you save is ultimately influenced by the amount of money you spend on your card and how much you pay off your credit card debt each month.
In Australia consumers are holding around 14 million credit cards in all with an average outstanding balance of over $3,142. With an average ‘normal’ credit card you would pay around $45 per month in interest. If you chose a low interest rate credit card instead, you could pay as little as $32 a month, meaning you’d save some $156 each year.
Credit card transfer deals save you even more money:
Even better is the fact that some of these low interest rate credit cards come with a credit card transfer deal of no cost for the first six months, meaning you’d save hundreds in your first year already.
Taking out a deal like this can quickly multiply in a positive way for card holders racking up thousands of dollars each year. The following are some examples of what could happen if you choose one, or both of these options on several scenarios:
| Outstanding Credit Card Balance: | Yearly Low Rate Credit Card Savings: | Yearly Savings With Balance Transfer: |
|---|---|---|
| $1,000 | $48 | $110 |
| $5,000 | $240 | $550 |
| $10,000 | $479 | $1,099 |
| $20,000 | $958 | $2,198 |
The top 5 low interest rate credit cards in Australia:
We have done the research for you and picked the best apples (cards) off the tree for you. All you need to do is decide you want to save money with a low rate card and then pick one (the best for you) from the list below.
- St. George Vertigo MasterCard: Offering a great deal this card 12.49% purchase rate, a 2.99% p.a. for 6 months on balance transfers, 55 days interest free period and costs $55 per year.
- Aussie MasterCard: With an 2.99% for 6 months (reverts to 12.99%) purchase rate, a 2.99% p.a. for 6 months balance transfer rate, 55 days interest free period and a yearly card fee of $49 you’ll be getting a great deal.
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Macquarie Bank Visa RateSaver Card: 13.95% purchase rate, 0% p.a. for 4 months balance transfer rate, 55 days interest free period and $50 yearly card fee.
- Citibank Clear Card: 11.99% for 12 months (reverts to 15.49%) purchase rate, 0% p.a. for 6 months balance transfer offer, 55 days interest free period and $65 yearly card fee.
- ANZ Balance Visa Card: 14.24% purchase rate, 0% p.a. for 6 months balance transfer, 55 days interest free and a yearly card fee of $79.
View our complete list of low interest credit cards in Australia
Related posts:
- Maximize The Benefits Of Low Interest Rate Credit Cards
- Save Money this Christmas: Repay $0 on Interest and Fees
- Low Interest Rate Credit Cards in Australia
- Compare Credit Cards In Australia And Save Money
- Handy Tips to Save Money
- How to effectively combine your credit cards and save on interest
- 10 Ways To Save More Money In 2010
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Editor's Choice: Our Top Credit Cards
HSBC Credit Card
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.
Suncorp Clear Options Standard Visa Card