We have partnered up with all of Australia’s leading banks to bring you the best 0% balance transfer cards.

If you are looking for a credit card that offers a good balance transfer rate then we suggest the Citibank BP Credit Card. Citibank currently offer 1.9% for 12 months on Balance Transfers plus rewards and BP discounts.

Balance Transfer Credit Cards
Citibank Clear Platinum Low Interest Rate 11.49% 0% / 6 Mths Balance Transfer 55 Days Interest Free	St.George Vertigo Low Interest Rate 12.49% 2.99% / 6 Mths Balance Transfer Low Annual Fee
Aussie MasterCard Interest Rate 12.99% 3.99% / 12 Mths Balance Transfer 55 Days Interest Free	Suncorp Clear Options Standard Interest Rate 12.24% 2.99% / 12 Mths Balance Transfer 55 Days Interest Free
Citibank Gold Interest Rate 20.74% 1.9% / 12 Mths Balance Transfer 55 Days Interest Free	BP Citibank Interest Rate 20.89% 1.9% / 12 Mths Balance Transfer 5% OFF Petrol
Citibank Clear Platinum Interest Rate 11.49% 0% / 6 Mnths Balance Transfer 55 Days Interest Free	ANZ Balance Card Interest Rate 14.24% 0% for 6 Months 55 Days Interest Free
Citibank Emirates Interest Rate 20.74% 2.9% / 12 Mnths Balance Transfer Emirates Skyward Miles	HSBC Credit Card Interest Rate 16.99% 0% / 6 Mnths Balance Transfer No Annual Fee

Compare more balance transfer credit cards at www.creditcardshopper.com.au

Because credit cards are seen as a great way to make instant purchases we usually have more than one credit card. It is normal today for a person to have 3 or 4 credit cards. The problem occurs when the bills arrive and we have a hard time in paying them. Usually after a couple of months of missed payments our debt would soon balloon to a huge amount. This is where balance transfer credit cards come in to help us.To explain it in simple terms, a balance transfer allows you to transfer the balance of your existing credit card to a new credit card. Different banks have different policies on the exact procedure but generally you can transfer the balance of your existing credit cards to the new card up to 95% of its credit limit.  Let us assume that your new card has a credit limit of $10,000 and your existing credit card has a balance of $12,000. You can transfer the balance of up to $9,500 to your new card.

You might ask why I would want to transfer the balance to the new card. Well for starters, the new card usually offers a much lower interest rate than your current credit card or they may even offer zero percent interest rate for balance transfers. This makes you save a considerable amount in making your payments.

We just cited an example for one credit card where we transferred the balance to the new card. Imagine if you have 3 credit cards that you wanted to do a balance transfer to your new card. This would simplify the payment process for you since you would only have to deal with one credit card.

Want to try out a balance transfer? Well first you have to apply for one. You should have at least an above average credit rating to apply for a new card.  You can then apply for the balance feature of this new credit card by doing it online by visiting the banks website, over the phone or by doing it the old fashioned way which is going personally to the bank.

It may take a couple of days for your application to be processed so it is best to follow up your application. Most of the time your application will be accepted and you can immediately do a balance transfer. If your application is rejected it is always a good practice to wait for two weeks before applying for a new credit card. Make sure to check on your credit rating as well since this is one of the primary factors considered for approval.

Making the balance transfer is actually very fast and can be finalized in just a couple of hours. The decision to make a balance transfer usually involves three factors. First is the normal interest rate. What you need to look for is the lowest normal rate to have a maximum benefit on you and less on the credit card company. Second is the teaser rate. This is the lowest rate a credit card company can offer new customers to draw in more business. Most credit card companies offer a 0% interest rate and a few extra perks. These privileges are not permanent though and would only last from 6 months to 1 year. Make sure to know when the offer expires so that you won’t end up paying more. Last, is the transaction fee. Every time you make a balance transfer there is a transaction fee you would have to pay your new credit card. This fee varies between different credit card companies but they range from around 1% to 5% of the total amount being transferred.

People who are having a hard time making payments on their credit card bills should definitely consider doing a balance transfer. It is already a time proven way of effectively managing your credit card debts. If your debt would take years to pay off with your existing credit card try availing of a balance transfer and you would see a considerable reduction in the amount of time you would clear your debt.

There are lots of credit cards available today competing for your attention. Most of them even offer a 0% interest rate for balance transfers. When choosing a credit card to use for balance transfers it is always good to read the fine print of each of them. Try to ask questions from the credit card representative if there is anything that you want clarified.

As soon as you have chosen your preferred credit card for balance transfers then you have now taken the first step in eliminating your debt. Make sure you follow the policies so that you won’t be charged with a higher interest rate; we need to be paying less and not more.

0% Deals on New Purchases
Aside from the 0% interest rate on balance transfers it is also good to look for a credit card that offers a 0% interest rate on new purchases. This kind of deal would usually last up to a year upon activation of your new card. This would make you save money on the long run. If you can’t find a card that offers a 0% interest then try to find one that offers the least amount of interest rate.

Check the Balance Transfer Fees
You might be enjoying a 0% interest rate on balance transfers but do you know how much the fee is when you do a balance transfer? Most banks charge a fee whenever you do a balance transfer. This fee could be around 3% of the total balance you transfer or up to $75. Always make it a point to do the computation first, taking into consideration the transfer fee, so that you may know if you saved money or are in fact adding more to your debt.

Check the Promos
When your 0% interest rate is about to end try to see if your credit card has some promos that can help you save.  Most of the time they will have special deals available to its customers, try to avail of these offers whenever possible. If no deals are present that could benefit you then try to ask your credit card to extend the 0% interest rate.

The best way for you to reduce the amount you have to pay on your debt is to get the best deal possible on balance transfers. Knowing the different options available to you and weighing them carefully would go a long way in settling all your debts.

Once you find a card that offers the lowest rate always remember to pay your bills on time to enjoy its benefits. A single missed payment may cost you a lot in interest fees.

Compare all the best credit cards at Credit Card Shopper. Compare credit cards including visa debit cards.

When looking for good balance transfer credit cards always take note of the balance transfer interest rate, how long the interest rate applies and lastly the ongoing purchase rate.

Balance Transfer Interest Rate: This is the interest you will have to pay on your outstanding balance from your existing credit card. Make sure to choose the lowest possible interest rate. Most cards even offer a 0% interest rate just to bring in new customers and boost their business.

Length of Interest Rate: You might have chosen a 0% balance transfer interest rate which is very good but do you know how long it is going to last? Make sure to get one that extends for the longest possible period of time. Usually, a 6 month to 1 year period is being offered for the 0% balance transfer interest rate.

Ongoing Purchase Rate: You would want to make purchases with your new credit card as well right? Some cards may have a 0% balance transfer rate but then have a high ongoing purchase rate. Be sure to choose a card with a low ongoing purchase rate as well.

The best possible scenario for you to get a balance transfer card is if you are just making the minimum payment on your existing card bill. By just making a minimum payment you will be getting a higher interest rate on your outstanding balance. The objective is to reduce the time it would take to eliminate your debt. By getting a 0% interest balance transfer card, you can then make a larger payment on the debt itself than on the interest.

There are lots of banks now offering cards that have great deals on balance transfer. Before applying for one it is always good to research on what they have to offer. These days, just browsing their websites on the Internet would give us all the information we need to decide on which card to use.

Once you have a balance transfer card taking care of the outstanding balances of your previous cards make sure to pay the bill on time. The conditions set on your balance transfer card usually applies if you make payments on time, if you make a late payment then it might revert back to your previous interest rate.

Compare all the best credit cards at Credit Card Shopper. Compare credit cards including visa debit cards.

Do Read the Fine Print
When you have decided on a particular credit card that offers a balance transfer, do read the fine print. You might get excited that this particular card may carry a 0% interest rate but then find out later on that it only lasts for the first 3 months. To avoid these unexpected surprises be sure to thoroughly read the fine print, or better yet have a representative of the credit card explain to you the details.

Don’t Miss your Payment
Now that you have a balance transfer credit card handling the debts of your other previous credit card don’t think that it’s time to relax. Make sure that you never miss out a payment on your new card since the results could be quite expensive. If you are enjoying a 0% interest on your balance transfer and you miss out on a single payment the bank can take out the 0% interest and charge you for the standard interest rate. Missed out a second payment? You could get charged for as high as 30% interest.

Don’t Forget to Verify
A lot of us tend to leave everything to the new credit card whenever a balance transfers credit card has already been made. It’s best to contact your new credit card as soon as you have made the balance transfer and then contact your old credit card company as well to see if everything went smoothly. This way, you would be assured that you won’t have to deal with any inconveniences in the future.

Don’t Overcharge
The reason people get a balance transfer credit card is to help them pay their financial debts. After doing a balance transfer and you still go ahead and do charges on your credit cards then it would defeat the purpose since instead of lowering your bills it would increase it. Try to exercise discipline in making charges and only spend on necessities.
Following these simple steps would assure you of a smooth experience in using balance transfer credit cards.

Credit card companies are also encouraging people to do balance transfers to gain an advantage over their competition. Let’s face it; there are lots of credit card companies out there vying for your attention. These companies would have to come up with creative ways to ensure that people will use their services and stay with them. One way to do this is by slowly getting the customers of their competition. By lessening the customers of their competition and increasing theirs, they would soon gain the advantage. This type of strategy is being used right now by almost all credit card companies.

Balance transfers are also one way for credit card companies to assist people with debt problems. By offering this feature, the companies and their customers are in a win-win situation. People would have a way to effectively pay back their debts with the low interest balance transfer while the credit card companies would also gain new customers.

The need for ways to help people overcome their credit card debts have made the balance transfer feature of most credit cards its main selling point. It is a well known fact that most people who have lots of credit cards would soon have a hard time in settling their monthly bills. This could be due to overspending or making impulse purchases. Because credit cards provide you with that instant purchasing power, the temptation to buy is always there.

If you need help in managing your credit card debt then try to consider doing a balance transfer. Many people have found out that it is indeed an effective way of eliminating credit card debt. Be sure to check the different offers the credit card companies are providing so that you will be able to enjoy the maximum benefits.

In the beginning people would use their other credit cards to cover the outstanding balances of their credit card bill. This method was seen as a temporary way to manage their debts. Soon, credit card companies found out that it would be a wise business move to include a balance transfer feature on their cards. At first glance you might think that credit card companies would lose in this kind of feature. Although profits would be low by introducing a 0% interest rate, the long term business goals of these companies would be achieved.

By providing tempting balance transfer offers, credit card companies are bringing in new customers to their fold. Since competition among the different credit cards is very stiff, offers of 0% balance transfer rates are being offered.

Are credit card companies losing by offering 0% interest on balance transfers? Not exactly, even if their profit would be significantly reduced they could still make a lot from other ways. You might think that the 0% interest rate you are enjoying is permanent. If you read on the fine print it might be stated that it would last for 6 months or only 1 year. If you make a single missed payment you might get charged a large interest as well. Basically if you do not follow all the terms and conditions of the credit card there is a huge interest rate involved which you have to pay. This is where the credit card companies would make money.

To make sure that you save more by paying less, be sure to follow all of the guidelines the credit card has. The main purpose of doing a balance transfer is for you to effectively settle your debt. If you end up paying more it would defeat the purpose of a balance transfer.

Compare all the best credit cards at Credit Card Shopper. Compare credit cards including visa debit cards.

The first modern use of credit cards began in the United States when establishments such as hotels and oil companies began giving them to customers. These customers could then avail of the services of these establishments by using the card and paying for it on a later date. The idea soon picked up and fast forward to the present date, millions of people all over the world are now using credit cards.The convenience of making purchases and using credit cards in emergencies is its main advantage. People who want to make purchases simply have to swipe in their cards and they can immediately have the item. Unfortunately, most people who own credit cards have this compulsion to spend. We sometimes pile in a large debt that when our monthly bill comes in we have a hard time in paying it. Before we know it our debt would soon balloon to a huge amount that it would take a long time for us to pay it back due to the huge interests involved.

Due to the ingenious idea of most people in debt, they soon discovered that they could use their other credit cards to pay off their credit card debt. What they did was to make cash advances on their credit cards with low interest rates and used this to pay their credit cards with a higher interest rate. This process helped people extend their good credit rating for a couple of months. Although a bit crude, this process became the first ever balance transfer.

Banks began to become aware of this process and began introducing balance transfer features on their credit cards to boost up their business. The first introduction of this feature was never really popular since people were already doing this before the banks introduced it. One other reason why it wasn’t successful was that people at first never really had any use for balance transfers.

Balance transfers became popular just recently due to the economic crisis the world is experiencing. Faced with a large debt and overspending many people soon had a hard time in paying their credit bills. One way to effectively recover from credit card debt was to avail of balance transfers. By transferring the outstanding balance of your credit card to one that offers a 0% interest rate you can make a huge savings and can lower your debt in the long run.

Today, many banks offer various balance transfer promos to draw in more business. We now have various options to choose from to help us in managing our credit card debt.  Balance transfers are here to stay and will become an important feature in most credit cards in the future as well.

Compare all the best credit cards at Credit Card Shopper. Compare credit cards including visa debit cards.