Low Interest Credit Cards

Suncorp Platinum Card

Jonathan — Thu, 01 Apr 2010 15:12:53 +0000

3.9% p.a. on balances transferred for life*
Interest rate 19.99% p.a.* on purchases
Also 19.99% p.a. on cash advances
Annual card fee of $205
Up to 55 interest days free on purchases
1 Reward point per $1 spent
Optional Suncorp Qantas Frequent Flyer – Earn 1 Qantas Frequent Flyer point for every $1 spent
The privilege and convenience of a 24hr Personal Concierge
Suncorp Take Flight®?
Free Overseas Travel Insurance, Extended warranty
To apply for this card you need to earn a minimum income of $50,000 p.a.

Suncorp Gold Credit Card

Jonathan — Thu, 01 Apr 2010 15:05:25 +0000

Earn 1 reward point per $1 spent
Points never expire
Interest rate 19.75% p.a.* on purchases
Annual card fee of $99
2.9% p.a. on balance transfers for 12 months*
Up to 55 interest free days on purchases
Joining Suncorp Qantas Frequent Flyer (optional) annual fee of $19
Additional card holder annual fee of $15
Credit limit of up to $25,000#
Complimentary International Travel Insurance and Purchase Cover for lost, stolen, or damaged goods.
FRAUDSHIELD® security protection and 24/7 customer service
To apply for this card you need to earn a minimum income of $35,000 p.a.

IMB Rewards Card

Jonathan — Thu, 01 Apr 2010 14:49:05 +0000

This is a terrific credit card for balance transfers. The IMB Rewards card comes with a very reasonable 19.24% p.a. interest rate to help keep your debts managable.

It also comes with an extremely generous balance transfer offer – 2.9% for 9 months, giving you some respite on repayments as well as the opportunity to make a huge dent in your revolving balance.

This credit card also has an extensive rewards program, superior credit limit (up to $25,000), and features travel insurance and purchase protection.

Making the Most Out Of Low Interest Credit Cards

Jonathan — Thu, 01 Apr 2010 07:46:28 +0000

Credit card debt has become a ubiquitous part of modern life. However, owning a low interest credit card can make a large difference to the state of your finances compared to owning a credit card subject to a higher interest rate. In fact, a low interest credit card can be used to your advantage in the context of your financial situation.

The Two Types of Low Interest Credit Cards

Ongoing low interest – the interest charges are kept to a minimum. These cards are usually aimed at the consumer who maintains a balance on their credit card from month to month.

Introductory low interest – credit cards like these are attractive to people who have a substantial debt with another credit card provider and want to attempt a balance transfer. The interest rate for the new credit is low during the introductory period (6-12 months), during which the consumer attempts to pay off the amount owed to the first credit card provider

For Whom Does This Work?

In general, a low interest credit card is best suited to people who don’t intend to take advantage of the interest-free period most credit card providers use to entice new applicants. These cards are also a great alternative to debit cards for occasional or infrequent credit card users.

Get the Lowest APR Possible

In order to make the most of a low interest credit card, it’s in your best interest to shop around for the card with the lowest annual percentage rate (APR) you can find. This is especially relevant if you have a tendency to allow a balance to remain on the card. As low as the interest imposed is, it would certainly be much better if you paid it off on time.

Obtaining a credit card with the lowest APR is one thing; you also should determine what the annual fee is, if any, and if a different interest rate applies when it comes to cash advances. Some credit cards may also come with a credit limit that is lower than you would like.

Look For Longer Balance Transfer Time Limits

A low APR is always welcome, but the search for a low interest credit card should also include as low an interest as possible on balance transfers too. Additionally, the duration of balance transfer interest may be different from that of the APR. For example, some cards may offer a zero interest APR for up to 15 months but an interest-free balance transfer for 3 months, or vice versa.

Credit card providers may also limit the time in which you can carry out the transfers. Some do so by only authorising transfers during the application process itself. Others may be more lenient, but only allow balance transfers to be made during the introductory period.

Always Read the Fine Print

When you’re looking for a low interest credit card, it’s easy to get sucked in by the hype. The fine print of any credit card contract is where you’ll find out about annual fees (which may be nonexistent, or may be high enough to offset the low interest rates), penalties for exceeding the credit limit and whether the low interest is only valid for an introductory period.

Greater Financial Freedom

A low interest credit card is a cost-effective measure to use when shopping. Whether you use it to pay for the groceries or a high-end computer, the interest rate means you’re charged less if or when you neglect to pay the balance. As such, it’s easier to clear your credit card debt.

If your finances are stable enough, a low interest credit card can be used to take out a small loan, such as that used to buy a new car. Chances are, the interest on the card would be lower than that charged for the loan, allowing you more control over your own hard-earned money while simultaneously repaying the loan.

“Save” Money on Existing Debt

Most people look to low interest credit cards when they’re already carrying a certain amount of debt on a credit card with a high interest rate. Transferring the balance from the old card to the new enables you to pay off the debt, or principal, without incurring subsequent interest charges.

If you sign up for a credit card with an introductory low interest offer though, you need to ensure that you pay off the principal within the introductory period or risk standard interest rates being applied.

You also need to remember that balance transfers work to clear the cheaper credit card debts first (paying for a television as opposed to paying for a car). This means the more expensive debt will continue accumulating interest until you finally begin paying it off. Therefore, it’s best to put off making new purchases with the new credit card for the time being if you’re determined to save hundreds of dollars from paying off the earlier balance.

Credit cards are useful tools that offer the user greater financial flexibility and greater spending power. However, they shouldn’t be used as a panacea to monetary woes. It’s also important to read the fine print of any credit card order in order to have an accurate idea of what you’re getting into.

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Featured Low Interest Credit Card: St. George Vertigo Mastercard

Jonathan — Wed, 09 Dec 2009 05:37:21 +0000

The St. George Vertigo Credit Card has a sort of funny name, especially since it conspicuously lacks the dizzyingly high interest rates and annual fees that are par for the course for many similar credit cards these days. In fact, the St. George Vertigo MasterCard won the 2009 Best of the Best Award from Money Magazine for boasting one of the lowest retail purchase interest rates in the nation. Not bad.

Highlights of St. George Vertigo MasterCard

Low interest rate for purchases at 2.99% for 6 months (with a revert rate after 6 months of 12.24% p.a.) (variable)
2.99% interest rate for balance transfers for up to 6 months
$55 annual fee
55 days interest free on purchases
Ability to link your St. George account

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CUA Gold Rewards Mastercard

Jonathan — Sat, 28 Nov 2009 13:56:58 +0000

Whether you are a traveler booking a flight or a customer interested in consolidating their debt, the CUA Gold Rewards MasterCard from Credit Union Australia is a versatile card suited for many needs. It offers sound protection against theft or damage and you can get points to use one a number of great and affordable stays hotels.

CUA Gold Rewards MasterCard Overview

The CUA Gold Rewards MasterCard is a good, solid card for any frequent traveler. It offers its customers a credit limit of up to $25,000, all with a low rate of only 19.24% interest. That is much cheaper than many travel cards. Once you add the modest annual fee of $85, you’ve got a real catch going on here.

One feature that is sure to make any traveler happy is the complimentary international travel insurance and purchase coverage. This insurance reimburses you if you have any trouble out there in the world such as a canceled flight, lost or stolen luggage, or even mishaps with purchased items.

Besides traveling around the world, the card is also ideal for debt consolidation. It comes with a 2.9% interest rate on balance transfers for the first 9 months, which is head and shoulders above what other cards offer. This gives you plenty of time to get that debt paid off at a reasonable rate.

Rewards programs are always important to the serious traveler. With the CUA Gold Rewards MasterCard you can earn 1 point for every $1 spent on purchases. These points can be used on frequent flyer miles, discounts at hotels and restaurants, and even on gifts. To make it even better, you receive 4 free supplemental cards for other members of the family so the rewards can be generated even faster.

In Summary: What makes the CUA Gold Rewards MasterCard unique is that it is a very affordable card for the seasoned traveler without slacking on the rewards. And if you have a lingering debt on other cards, the transfer balance rate makes this card a superb choice for getting rid of previous balances.

Commonwealth Bank Platinum Card

Jonathan — Sat, 28 Nov 2009 13:56:34 +0000

Australians looking for two credit cards for the price of one can find a deal with the Commonwealth Bank of Australia Platinum Card. Cardholders get the bonus of having both a Commonwealth Bank Platinum American Express and a Commonwealth Bank Platinum MasterCard. With two cards, it is easier to rack up those rewards and have the best protection available. Like any platinum card of its class, you get a lot of perks such as 24/7 concierge service and complimentary comprehensive travel insurance.

CBA Platinum Card Overview

Travelers are going to get the most out of the CBA Platinum Card. For starters, you get 3 Award points for every $1 that you charge using the Amex card while you also get one Award point for every dollar spent using the MasterCard. If that wasn’t enough, any purchases that you make have a 90 day purchase security coverage so if an item gets lost or stolen, you’ll be reimbursed.

The complimentary travel insurance is highly valued by anyone who travels regularly. It covers your losses from canceled flights, misplaced bookings, or if any of your baggage is lost, stolen, or just misplaced. If you use travelers’ cheques a lot then you’ll find the commission-free cheques to be a steal.

The CBA Platinum Card has an competitive interest rate of 20.24%. That is on par with what many platinum cards offer. However, the annual fee of $280 is not for the ligthtweight cardholder. Add to that a 5.99% interest rate on the annual fees for the first five months and that can rack up to a considerable amount. The good news is that if you have just one mishap while traveling, which happens all the time, the travelers’ insurance can easily cover the cost of the annual fee.

One great advantage of having a platinum card is the 24/7 personal concierge service. This can be a real asset when traveling abroad in unfamiliar territory.

The CBA Platinum Card offers some really good rewards for using a card with a high annual fee. The points can accrue three-times faster than lower level cards and you can trade those points in on Qantas Frequent Flyer miles and other vouchers. Plus, you get an extended warranty on any retail purchases made with the card.

In Summary: As platinum cards go, this one offers quite a bit to brag about. It has valuable features that we have come to recognize from an institute such as the Commonwealth Bank of Australia. Any traveler with this card in their pocket will find that they will be well protected while globe-trotting around the world.

Commonwealth Bank Low Fee Card

Jonathan — Sat, 28 Nov 2009 13:56:03 +0000

With a name like the Commonwealth Bank of Australia Low Fee Card, you know exactly what you are getting in a credit card. It is a standard, no frills credit card that gives its cardholders the bonus of low annual fees. The card is designed for people who want a basic but reliable card without having to pay those outrageous fees.

Highlights of the CBA Low Fee Card

The driving point of the CBA Low Fee Card is that it only costs $24 a year to use it. That’s it. If you happen to be a qualifying member, you can even get that reduced to a $0 annual fee. To get that, all you have to do is spend $1,000 a year (and keep up with your payments, of course). So if you spend at least that much a year, then you’ll have a zero fee for the duration of the card’s life.

The CBA Low Fee Card is also a decent card for transferring balances. It gives customers 5.99% interest rate for the first five months which isn’t a bad deal at all. Its regular interest rate is 19.74% for all purchases and if you need cash advances, that rate goes up to 21.24%. The good news is the card comes with a 55 day interest free period for all purchases so as long as you get your balance paid off, you won’t have to worry about that high interest rate.

If you are concerned about security, the CBA Low Fee Card has you covered. You are provided with one free supplemental card for any family member but don’t worry about it falling into the wrong hands. The card comes with an enhanced security chip. You also can check out some of their options such as Secure Sentinel which helps you if you ever lose your wallet, keys, phone or passport. If this happens, all of your cards are automatically canceled and you get an emergency $1,000 cash advance to tide you over. And if the economy ever bites you and you lose your job, Card Repayment Cover from CreditCard Plus can help you with your card payments.

Bottom-line: Some people just want a simple to use and affordable card. The CBA Low Fee Card is designed to provide just that along with some really great protection coverages. With a $0 annual fee, this makes the CBA Low Fee Card ideal for any financial needs.

ANZ First Visa Card

Commonwealth Bank Gold Card

Jonathan — Sat, 28 Nov 2009 13:55:38 +0000

The deal you get with the Commonwealth Bank Gold Awards Card provides you with the benefits of actually having two cards. With a Commonwealth Bank Gold Awards American Express card and a Commonwealth Bank Gold MasterCard, you get the best of both. Rewards can accumulate much faster with the Amex card and you get the coverage that MasterCard is known for. Working in tandem like that, you can’t go wrong.

Commonwealth Bank Gold Awards Card Overview

The Commonwealth Bank Gold Awards Card is similar to the Commonwealth Bank Awards Card but with a different annual fee of $144 per year. While there are some cards that come with a lower annual rate, noen have the same advantages and rewards as the Commonwealth Bank Gold Awards Card.

The thing that you will notice first about the CBA Gold Awards Card is that it has free comprehensive travel insurance and a 90 day purchase security coverage on all purchases made. So no matter if you are traveling or just shopping around, if anything gets lost, stolen, or damaged, you’ll be covered. And if you want more protection, there is an extended warranty on purchases. That means that when the regular warranties expire on items that you have bought, you’ll still have them under warranty with the CBA Gold Awards Card.

Despite the program having two cards, you don’t have to worry about keeping track of two separate statements. You will only be responsible for one statement and making one payment. The interest rate with the CBA Gold Awards Card is at 20.24% on all purchases. To help you cope with this, a 55 day interest free period can give you the time to pay off the balance before the interest start to add up. The card can even be useful for debt consolidation with a transfer balance of 5.99% for the first 5 months.

With the rewards program, you end up earning points three times as fast than if you had just one card. The Amex card gives you 2 points for every dollar spent while the MasterCard gives you an even 1 point for every dollar spent. The flexibility allows you to use the points on travel, hotels, dining out, or even shopping.

In Summary: With the Commonwealth Bank Gold Awards Card, you are getting the perks from two separate cards but at practically the price of one. It offers great coverage for traveling and shopping and gives cardholders peace of mind with their security.

St George Platinum

Jonathan — Sat, 28 Nov 2009 02:52:09 +0000

You will have to look far and wide to find a platinum card that offers the same values and rewards as the St. George Platinum Credit Card from Visa. This card is all about the VIP scene and you’ll gets loads of special treatment and pampering when you use it. What makes it one of the best platinum cards out there is that the rates make it very easy on the pocketbook.

St. George Platinum Credit Card Overview

One of the key highlights of the St. George Platinum Credit Card is the coverage that it provides you. It is like walking around in a suit of armor. The card covers almost everything. It gives you international travel insurance, domestic flight inconvenience insurance, transit accident insurance, purchase coverage insurance, extended warranty insurance, best price guarantee, and instant discounts through the St. George Instant Benefits program. So no matter what may befall you while out in the world, the card has your back.

All of these protections are well worth the annual fee of $89 a year. While this is not a particularly high fee, think of what you are getting for your money. The interest rate is even more reasonable at only 15.74% on all purchases. And if you have previous balances still hanging on other cards, you can enjoy the 3.99% interest on balance transfers for the first 6 months. That makes this card one of the best available for getting rid of your debt.

In Summary: So despite the St. George Platinum Credit Card being a premium card, it is a ridiculously affordable card that offers some top of the line services. Every traveler worries about accidents and misfortunes that may delay their trip but with this card, you’ll always be covered for any emergency.