Credit Cards with 0% Balance Transfer and Spend to Get Points Offers - Can You Use Both and Not Pay Interest?

brownbag on 21/02/2019 - 11:16
Last edited 21/02/2019 - 11:16

A few credit cards have an introductory offer to get a 0% balance transfer for a number of months, but if you take this you lose your interest free period and pay interest as soon as you spend money. They also often have an offer to spent a certain amount in the initial period to get FF points.

But as soon as you spend any money to get the free FF points, you lose your interest free period and start paying interest on your spend.

An example is the St George Amplify offer.

Has anybody tried their luck with taking up both offers on a credit card like this, and how have you managed to do this and keep your interest bill very low or zero. Do you pay off any amounts as soon as you incur them, to keep your balance very low? Or is there an easier way?

Financial Credit Card

Comments

  • Bonbi on 21/02/2019 - 13:44

    I've thought about this as well but you will find that their T&Cs stipulate balance transfers do not count towards the minimum spend required for points offers.

    • brownbag on 21/02/2019 - 14:15

      Hi Bonbi, I think you've missed the point. I wouldn't expect balance transfers to count towards minimum spend. I'm commenting on how the balance transfer makes you lose your (45 to 55 day) interest free period on spending. Then the issue is that if you spennd to get the points, you pay interest on that spending.

      Does that make more sense?

  • burningrage on 21/02/2019 - 14:18

    Normally I would take up the Get Points offer as certain credit cards would offer 0% BT offer (after paying off the spend that is) if you ask for it.

    • brownbag on 21/02/2019 - 14:28

      Yes, I think that's what Qantas allowed me to do on their card a while back. But the particular one I'm looking at (St. George) seems to require you to apply
      for the balance transfer on application.

      • burningrage on 21/02/2019 - 19:27

        Yes but once you get the points, you can ring and ask if there is any bt deal going around. This is no different for other certain credit cards to ring and ask for any bt deal.

        • brownbag on 21/02/2019 - 21:59

          Good idea. But I'm only really keen on the 0% offer and that's only available when you take on a credit card. They'd never give that to existing card holders.

          • burningrage on 22/02/2019 - 07:06

            @brownbag: Certain credit cards do and there is at least 1 credit card that always does if you know the offer code. Look around Ozbs, there is one forum that divulges such code. Certain credit cards all it takes is pick a phone and ask for it but only after a while (I know coz I always get it from this bank)

            Sorry a bit cryptic because I don't want this to be clamped down as I am finding a lot of goodies once published they get clamped down plus in the post-RC era, they don't allow you a lot of things like fee waiver etc (again, from Ozbs forum feedback).

            In any case, if 0% is what you are after, then do that. I would certainly do that if offered instead of points.

            • brownbag on 22/02/2019 - 07:39

              @burningrage: Thanks, I think I may have been a bit misleading. When I said that I'm only after the 0%, I mean that I wouldn't be interested in a low interest rate such as 5%. I compared the value of the points compared to the 0% interest (in my proposed case only 6 months) and the points are worth much more. Then again, I will look around and see if I can get that 0% offer later. Cheers.

  • ilikeradiohead on 22/02/2019 - 07:08

    Use a different card for the BT, use the St George to get the points. 0% BT cards are coming along all the time, good bonus points are less common (and you also have to meet a minimum spend). So transfer to a card like this, and get the St George for the points.

    • brownbag on 22/02/2019 - 07:44

      Thanks. I do have a few cards, each for a different reason. There's only so many you can have, so I may just stick with the points. Cheers.

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