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June 02, 2012 | Comments: 0 | Views: 150

Comparison Credit Card checklist

It is imperative to compare diverse credit cards so that you know you are receiving the best deal feasible. The card you have may have seemed great when you got it, but there are new credit cards approaching on the market all the time, and a different one may be capable to give you better rewards program benefits, lower interest rates and better shield against fraud. When it comes to credit cards, it pays to shop around.

So what factors should you compare different credit cards on? Find out in this handy guide. We have set you all the tips you need to know about comparing cards, no matter what type you're after.

Featured Transfer Balance:

A platinum credit card with a discounted annual fee and privileges including complimentary international travel insurance. One of the most competitive introductory offers on purchases and transfers

• $99 annual fee

• 11.99% p.a. on purchases

• 0% p.a. for 12 months with 3% fee on balance transfers

• Cash Advance Rate of 21.74% p.a.

• Minimum Income Requirement of $35,000 p.a.

• 55 days interest free

Low Rate Transfer Balance Offers: Easily compare

The key points to consider when transferring your balance to a new bank are:

• How long do you have before the balance transfer rate runs out? It could be 6 months, 9, 1 year, anything, but you need to know.

• What interest rate applies to the balance transfer? Generally speaking, the lower rate the bank will give you, the less time you have to settle your debt before the regular rate kicks in.

• What does the balance transfer apply to? The special rate of interest applies to the transferred amount only. It will not apply to any new purchases, or to any new cash transactions made on the card- these will be treated another way to the transferred amount.

• Is there an annual fee?

• Is there a limited time in which you have to instigate a balance transfer with the new bank - e.g. within three months of receiving the new card, or less?

Low Transfer Balance:

A balance transfer credit card permits you to transfer your existing cards balances and repay them at a much lower rate, sometimes even at 0% interest, over a specific term. If you still have a leftover balance after the balance transfer offer expires, the remaining balance will revert to the standard purchase rate, although in some cases this will revert to the cash rate.

The following is a full guide to aid you understands exactly what a balance transfer is, how it can benefit you by reducing your card interest repayments, and how to compare the available balance transfer credit cards to find the best offer for you. Take note that all it offers require good credit for application approval. Some of these cards offer 0% for 6 months and some low rate 1 year balance transfer options. Where the balance transfer rate is the same, you will then need to look at other features such as the annual fee and purchases interest rate.

Featured Transfer Balance:

The ANZ Platinum provides a range of unique benefits for travelers. It's a grand card to take with you when you travel. Plus it offers:

• Overseas Travel and Medical Insurance at no extra cost

• Enjoy an ongoing discounted interest rate of 9.99% p.a. for travel purchase over $500 in a single transaction.

• $0 annual fee for the first year

• Overseas Travel and Medical Insurance at no extra cost.

This is Ray Ethell author of Finance Sites. Compare Credit Cards were never this easy. The information provided by us on all major Australian Credit Cards helps you compare credit cards on our site and saves your time money and effort. Try our services today

Source: EzineArticles
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