Low Interest Credit Cards Credit Cards

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Low Interest Credit Cards

When it comes to finding the right low interest credit card Australians need, the trick is to go through all the offers until they find one that best suits their needs. A low interest credit card however does exist and is being offered to Australians who want to save money on the balance that they have built up on their card.

But what exactly is a low interest credit card and just what are the benefits and pitfalls to having it as part of your finances?

What are Low Interest Credit Cards?

Essentially, a low interest credit card is exactly what it says it is, a credit card that charges a lower amount of interest than a standard credit card. The exact interest rate charged will vary depending on the company that issued the card, but for the most part they offer a very low rate as compared to standard issue credit cards.

For many, having a very low interest rate will offer certain advantages that may be quite attractive. However, these advantages may also be paired with certain issues that could be difficult to work into your overall budget.

Advantages and Disadvantage of Low Interest Credit Cards

Low Interest Rate: The most obvious advantage is also what the card itself is named after. A lower interest rate means that you pay less each month on the balance that is carried over. Depending on how long the low interest rate lasts, you may save hundreds of dollars or more.

Transfer: A low interest rate card is an excellent resource to transfer the balance from your higher interest rate cards so that you can save money. You will not only pay a lower interest rate, you will also get rid of excess credit cards in the process.

However, while the advantages of paying a lower interest rate really stand out, there are some considerations you will need to make as well. This is especially true if you are trying to transfer balances over from other cards.

Time Limit: In many cases, the lower interest rate will not last for very long. This is especially true if it is part of an introductory rate that lures you into owning the card. This means that if you were planning on transferring the balance or paying for particular items, you will only have a certain period of time before the lower interest rate goes away.

Fewer Rewards: Generally speaking, lower interest credit cards Australians use have little to no other rewards or other incentives that come with the card itself. This may not be all that bad considering that you are saving money each and every time you use the card, but if you were interested in particular rewards such as frequent flyer miles you will be missing out.

Overall, having a lower interest credit card can save you a considerable amount of money although they often have stricter rules about balances that carry over. So, while you will need to be more careful, the potential savings makes this the type of card that you want to carry in your wallet.

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Bank of Sydney Ltd

219-223 Castlereagh St
Sydney, New South Wales 2000
Australia

Bank of Sydney offers a wide range of general banking products and services and pouts great emphasis on providing products that are customized to meet

Citigroup Pty Limited

2 Park Street
Citigroup Centre
Sydney, New South Wales 2000
Australia

Global Consumer Group – This group consist of Citibank and Diners Club brands combined offering consumer banking services, including transaction and

Agricultural Bank of China Limited

2 Chifley Square
Sydney, New South Wales 2000
Australia

Agricultural Bank of China Sydney Branch got its license to carry out banking business from the Australian Prudential Regulation Authority on 25th

Citibank Australia

455 George Street
Queen Victoria Building
Sydney, New South Wales 2000
Australia

Citibank is the largest issuer of credit cards in the world, but offers a number of other services to their customers, including saving accounts, term

Easy Plan Financial Services

39 Montague Street
North Wollongong, New South Wales 2500
Australia

Easy Plan Financial Services is a Wollongong based financial consulting company with years of experience in the local finance market.

Circle Credit Co-operative Limited

6 Tilburn Rd
Deer Park, Victoria 3023
Australia

A public company founded in 1963, Circle Credit Co-operative Limited is a state credit union, providing banking products and services to its

Berrima District Credit Union

411 Bong Bong Street
Bowral, New South Wales 2576
Australia

Today Berrima District Credit Union operates as a credit union that provides financial products and services such as loans, Visa credit cards and

Coastline Credit Union Limited

64 Elbow Street
West Kempsey, New South Wales 2440
Australia

Coastline Credit Union Limited is a state credit union in West Kempsey servicing loans, mortgages, personal loans, credit cards, savings accounts,

Collie Miners Credit Union Ltd

217 Clarence Street
Level 7
Sydney, New South Wales 2000
Australia

Collie Miners Credit Union Ltd is a member owned cooperative and financial mutual which is 100 percent committed to its members -maritime, mining and

Community Alliance Credit Union

38-40 Young Street
Wollongong, New South Wales 2500
Australia

Based in Wollongong, Australia, Community Alliance Credit Union Limited was incorporated in 1972.In 2003; Community Alliance Credit Union was formed

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