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Thread: Australian Credit Cards, no fee, longest interest free balance transfers, 0% interest, Low APR.

  1. #1
    Gav
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    Australian Credit Cards, no fee, longest interest free balance transfers, 0% interest, Low APR.

    The new section for best deals on Australian Credit cards has now been updated, it's split into 4 sections with great deals on no fee credit cards, longest interest free balance transfers, 0% interest for new spending as well as the lowest APR credit cards.

    1- Fee Free Credit Cards, no annual costs.
    Best no fee credit cards

    2- Credit Cards with the longest free balance transfer

    Credit cards with longest interest free period on balance transfers

    3- The best credit cards for the longest interest free period on new spending, perfect for stoozing

    Credit Cards with the longest interest free period for new spending
    Credit Cards Stoozing

    4 - Lowest Interest Rate, APR, Credit Cards

    Credit Cards with Lowest Interest Rate - APR



  2. #2
    Administrator fool's Avatar
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    Could you get a new card, buy a few things then transfer to a Credit cards with longest interest free period on balance transfers for the long interest free period or does it have to be an overdue amount?

    I have never had a credit card so I'm not really up on how it all works.
    MrMoneyExpert likes this.

  3. #3
    Gav
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    You can generally transfer any debt from any credit card to a balance transfer credit card, even if it's new credit, many people trying to get out of credit card debt get one card that offers an interest free period and move all their other balances to that card and cancel the other ones. This means they're not paying extra money at insane amounts of interest.

    If you can't get a good interest free credit card for balance transfer another option is to get a low interest rate personal loan.

    Other people just move their credit card debt from one no interest account to another whilst having the money to pay off the debt sitting in a savings account.

    If you've got a great credit score and a very good wage you can easily get a credit card limit of $50,000 (some banks even offer it to those that have low wages), then have the money sitting in a 6 or 9 month term deposit, current best rates for 6 months is 4% same for 9 months or 1 year see the top rates here: Compare the best term deposit interest rates | Money | Saver Scene Australia $50,000 for 6 months at 4% is $1,000 obviously you have to take fees and any transaction fees that may be added some charge up to 3%, you're still making 1% on your savings, but it's not great. You could get 4.51% for 4 months if and then move to ING Direct to get 4.5% if you want to be a bit more hands on, this is with the instant access: Compare best interest rates for instant access savings | Money | Saver Scene Australia sadly rates just keep dropping for savers.
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  4. #4
    Administrator fool's Avatar
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    OK cool, do you know if you have to make monthly installments with the Credit cards with longest interest free period on balance transfers or can you just pay it all near the end of the interest free period? I know some of the interest free deals on electronics and the like require you to make monthly repayments and some can be paid in one lump at the end.

    Thanks for the advice, might get my first credit card, still don't trust myself


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