After new credit card companies?

After new credit card companies?

3 October 2008

The average Australian has three credit cards. This means that you're paying three different interest rates, three different annual fees, and possibly have three reward programs that you aren't necessarily using. Why be giving your money to three different credit card companies when you can consolidate your credit card debt with a balance transfer?

A balance transfer credit card takes the owing balances on your other credit cards and places them on the one credit card account. Balance transfer credit cards can be extremely beneficial as you can keep track of the money you owe. Another perk is that you only have to pay one set of fees and interest rates on your balance transfer credit card, thus saving you money.

Many credit card companies offer great credit card deals for balance transfers. These include low interest rate for an introductory period. The introductory period is typically six months. Some banks will offer an interest free during this introductory period. If you can pay off your owing balance during this introductory period, you won't have to pay interest.

Compare credit cards and find a balance transfer off credit card companies that you can use.

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