Many Australians have the right idea and best of intentions in looking to reduce their credit card by applying for a balance transfer credit card. Despite the best of intentions many at some stage find themselves needing to access credit for a new purchase.
Can I Use A Balance Transfer Credit Card For New Purchases?
The short answer is yes. Balance transfer credit cards can be used to make new purchases. These purchases will be charged at the standard interest rate for purchases and will not be entitled to interest free days as the balance is classified as an outstanding purchase that needs to be repaid in full before interest free days are applicable.
Should I Use A Balance Transfer Credit Card For New Purchases?
The short answer is no. If you think there is even a small chance that you may need to use your credit card for new purchases you should keep your old card wherever possible and make any emergency purchases on it. Then pay out the balance during the interest free days.
Balance transfer credit cards can work for you if you are organized and disciplined and stick to your goal of paying out your credit card debt, there are several apply online for instant approval credit cards that offer low and zero per cent balance transfers.
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ANZ Low Rate Purchases : 0% for 3mths then 13.24% p.a. Balance Transfer: 0% for 3mths Annual Fee: $58 Interest Free Days: Up to 55 Cash Advance : 21.49% p.a. More Info |
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| ANZ Low Rate Apply Now | |||
