0% Interest Balance Transfer Credit Card

A 0% interest balance transfer card is exactly that, you can get 0% interest on your balance which you transfer from another card. These 0% cards last around 6 months before you get charged interest. You can get 12 months at a low percent and lifetime balance transfers at a low percent.

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So how can you get the most out of these kind of cards? It called card jumping. For example* if you have bought a car on your credit card for $10,000 you can put this $10,000 onto a new balance transfer card and get 6 months interest free! Before the 6 months runs out you will need to move your loan to another card or be prepared to pay full interest price.

For customer who are not so card savvy simple putting their loan on a 12 month low interest card would be a good option. ANZ has a 2.90% p.a. for 12 Months or if you don’t think 12 months is long enough a lifetime balance transfer would be suggested around 4.9% is the going life time transfer rate.

These are just some of the examples of what you can do with this type of card. Remember even if you get 0% interest you will still have to pay back the loan.

*Just an example not recommended.