Archive for the ‘Interest Rates’ Category

ANZ Lower Interest Rates

Tuesday, May 5th, 2009

ANZ have followed the other major banks in lowering their credit card interest rates. The ANZ bank have lowered the interest rates on the Low Rate Mastercard, Balance Visa and ANZ Gold Visa. The Low Rate Mastercard has dropped from 11.99% to 11.74%, the Balance Visa has dropped from 12.99% to 12.74% and the ANZ Gold has gone down to 17.49% .

Australia has recently scene a decline in other major credit card offers. These include a drop in interest rates by St George, Comm Bank, Bankwest, and Aussie. The banks have felt the pressure from the Australian public to reduce their rates, after the Federal Reserve Bank dropped interest rates to a record low.

Will Interest Rates Get Lower? It is hard to predict wheter credit card rates will get lower, however competition within the credit card industry is fierce and the major providers are fighting for your business. In order to get the best low rate card for you, it is important to shop around and compare the offers available on the market. If you do your homework you are sure to find a  credit card deal that suites your needs.

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St George Vertigo Lower Interest Rate to 10.99%

Friday, May 1st, 2009

St George have cut the interest rates on the low rate credit card offer, the St George Vertigo Mastercard, by 1/2 percent to 10.99%. This makes the Vertigo Mastercard one of the lowest interest rate credit cards in Australia. Unlike other big banks, that have not passed on the Reserve bank interest rate cuts, the St George have lead by example in slashing rates to try and help Australians during the credit crunch.

The Vertigo Mastercard also offers a 6 month 0% balance transfer offer, that one them Money Magazine’s cheapest balance transfer credit card for 2009. Along with the low interest rate and balance transfer offer, the Vertigo credit card deal also has a low annual fee of only $55 .

Australian’s, want the banks to pass on the interest rate cuts, however many banks are not passing these cuts with credit cards. St George along is leading the way and helping average Australians during these tough economic times. View more information on the St George Vertigo Mastercard.

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Aussie Lower Credit Card Interest Rates

Friday, May 1st, 2009

Aussie Mastercard has set the pace again by lowering their interest rates to 11.49% on purchases, making the Aussie Mastercard one of the lowest interest rate credit cards in Australia. Aussie has been consistently in line with the reserve bank rate cuts, passing on the lower rates to Australians, unlike some of the major banks.

Along with the new low interest rate, Aussie has also cut the balance transfer rate by 1% to 4.99% for 12 months on transfers. Aussie also have a special introductory offer 0f 9.99% on purchases for 12 months, adding to the other great benefits this card has to offer.

Aussie have been the innovators, within the finance industry, since they arrived on the scene they have forced the big banks to come into line in order to compete with Aussie’s low rates and special offers. To view more information on the Aussie Mastercard click here.

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Are You Paying Over 20%p.a.

Friday, May 1st, 2009

Many Australians are blindly costing themselves thousands of dollars per year by paying over 20% p.a for a credit card that does not even offer any rewards. The reason for this maybe, not caring to check the interest rate, lake of knowledge on the other credit cards on the market or signing up for a credit card years ago and not changing to a new credit card because you are comfortable with the one you have.

With all the new credit card offers being advertised in Australia it makes no sense to be carrying around a heavy 20% p.a. card when you are shopping. Most banks are offering credit card deals starting as low as %10 p.a, along with a special 6 month balance transfer offer of %0. If you shop around for a new deal then you are likely to save hundreds if not thousands of dollars over the lifetime of the credit card….Are you one of those Australians with a high percentage card? If so let us know what you are paying and for how long you have had a high interest rate. Compare low interest credit cards here

Posted in Credit Cards, Interest Rates, Low Interest | 1 Comment »