Cards With Low Balance Transfer

Balance Transfer Credit Cards With Low Rates May Bring Debt Relief Benefits ...

Balance transfer credit card options have been in the news as of late as there are many lenders offering low rates on new credit card balance transfer offers, which has brought options for consumers to consolidate debt and find debt relief in some cases. However, there are those who feel that consumers must take caution when considering a balance transfer credit card. Obviously, indications that more lines of credit may be opening for consumers through either balance transfer cards or other forms of credit is beneficial in that it points to the fact that financial institutions may view consumers to be in a better position in terms of handling and repaying credit. While lines of credit, like small business loans, have been greatly needed by many companies, access to affordable credit is also something being sought out by consumers who saw their credit score take a hit during the recession and may need a card for credit repair as well.

Also, some consumers may have acquired a great deal of debt during difficult financial times as many have relied on their credit cards to stay afloat while either unemployment or underemployment was an issue in their lives. However, many of these new balance transfer credit card opportunities are allowing consumers to essentially consolidate credit card debts from various sources or other personal debts onto a card that offers either a low rate or 0% interest for an introductory period.

It goes without saying that consumers who can consolidate and begin repaying debt at no interest can greatly benefit when it comes to the overall costs they must meet, as some consumers have been able to erase their debt after consolidating with a balance transfer credit card at no additional cost from interest. The benefits of doing this are evident, but there are some consumers who may need to look more closely at balance transfer credit card offers and heavily research a particular card they may feel to be appealing for their situation.

Consumers may be required to either make a minimum number of purchases on a new card for their rate to remain low or after an introductory period has expired, the interest rate on a new card could potentially skyrocket, which if a consumer already has a balance on this card after consolidating, could create problems in terms of expenses related to interest.  Also, some cards may charge a high fee on balance transfers, which could lead to a balance transfer option becoming less helpful and cost-efficient in certain cases.

ANZ Low Rate MasterCard Review - 0% Balance Transfer Credit Cards

ANZ Low Rate MasterCard – Benefits

The ANZ Low Rate MasterCard could be the key to finally getting your credit card debt back under control.

If you’re carrying a balance on a credit card with another bank and you’re paying huge interest bills each month, you’ll already know your payments do little more than just cover those interest costs. The tiny amount left over barely makes a dent in the outstanding balance.

However, if you take advantage of the ANZ Low Rate MasterCard balance transfer offer, you could be paying 0% interest for six months on your credit card balances.

You simply transfer your balances from your high interest charging credit cards over to your new ANZ credit card and you’ll benefit from paying zero interest on the amount you transferred over.

With no high interest costs eating into your repayments, you know your money is going directly towards repaying your balance instead of just covering the interest bill.

Remember, even though you might be paying no interest on your credit card balance, you will still need to make at least the minimum payment each month to continue to qualify for the 0% interest rate. However, if you pay more than the minimum payment shown on your statement each month, you could easily clear your credit card debt very quickly and finally be on the path to becoming debt free.

At the end of the six month 0% introductory period, the zero percent rate will expire and be replaced with the standard purchase interest rate. This is currently a very competitive 13.24%.

Of course, if you can pay your balance off completely and continue to repay your credit card down to a zero balance each month before the due date, you could benefit from up to 55 days interest free on your purchases.

The ANZ Low Rate MasterCard also offers cardholders access to great special offers and discounts on all sorts of services and events. You could receive exclusive entertainment tickets to premier events, like theatre, musicals, concerts, or sporting events.

You can also take advantage of the MasterCard global service representative at any time of the day or night from anywhere in the world. This can be very handy if you need to report a lost or stolen card.

Your ANZ Low Rate MasterCard is protected by ANZ’s Falcon security, which monitors your account for any suspicious or fraudulent transactions 24/7

Accessing all of these benefits does come with a low $58 annual fee, but that’s a small price to pay for access to such great savings.