Instant approval credit cards are credit cards that offer a response after an application has been submitted, in most cases in around sixty seconds. Like all other credit cards, instant credit cards offer special promotions from time to time to entice new customers.
Todays featured instant credit card promotion is from the ANZ Low Rate Mastercard instant approval credit card.
The terms of this credit card offer are as follows:
- Annual fee of $58
- Interest rate on purchases is 13.24% p.a.
- Interest rate on cash advances is 21.49%
- Promotional interest rate for balance transfers of0 % p.a. for 6 months
- Interest rate on balance transfer after the promotional period is 13.24%
The requirements of this card as follows:
- 18 years of age or older
- Be a permanent Australian resident
- Earning a minimum annual income of $15,000.
- Good credit history
As stated earlier credit card promotions are a tool that companies use to bring in new customers. Promotions offer special interest rates for specified periods to grab the attention and entice a competitors customer to switch.
Even more important than usual when attempting to take advantage of a promotion, it is important to read and understand the terms and conditions, for example the ANZ Low Rate Mastercard as feautured above is an excellent opportunity to take advantage of the balance transfer low rate as after the promotional period any remaining balance reverts to the low purchases rate. Many credit cards offer a low introductory balance transfer rate but hit the customer with cash advance rates the day that promotional period ends. So look for one that reverts to the purchases rate or ensure that balance is paid out during the credit card promotion.
Know that unless stated otherwise a cash advance rate differs from the purchases rates. Rarely are cash advance rates lowered for promotional purposes. Take this into account when considering applying for an instant approval credit card, especially if looking to apply for a balance transfer. If you use your card to make cash advances frequently, you’d be well advised to retain your old card for that purpose and use the credit card promotion only for the promotion.
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| ANZ Low Rate Purchases : 0% for 3mths (Offer ends 12.06.12) then 13.39% 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 |
