Skye Mastercard - 0% for 25 Months on Balance Transfers with No Balance Transfer Fee ($99 P.a Annual Fee)

Store Repfindercomau on 21/08/2020 - 09:26 finder.com.au (263 clicks)

Hi everyone!

Just sharing an exclusive deal for the Skye Mastercard credit card, which is offering a 0% balance transfer rate for up to 25 months when you apply through Finder by 19 October 2020. It’s the longest fee-free balance transfer available on the market right now.

This is an ideal offer for people with existing debt who want to save on interest, as well as those looking to make new purchases and pay them off over time. As a no-frills card with a $99 annual fee it doesn’t offer rewards, insurance or any expensive perks.

Please note:

This offer is only available to eligible applicants who apply through finder via: https://www.finder.com.au/skye-mastercard-exclusive-offer

Features of this card

Long-term balance transfer offer. Save on interest charges with 0% p.a. on balance transfers for up to 25 months when you apply through Finder by 19 October 2020. Any unpaid balance at the end of the introductory period will revert to the cash advance interest rate of 25.99% p.a.
110 days interest-free on purchases. This card offers an interest-free period of up to 110 days on every purchase you make. At the end of the 110-day period, the standard 23.99% p.a. purchase rate will apply to the balance. Note that you will still need to make minimum payments on your account by the due date listed on each statement.
0% foreign transaction fees. The Skye Mastercard charges a 0% foreign transaction fee when you're travelling overseas or shopping online with an international retailer.
Interest-free instalment plan options. Offers interest-free instalment plans of 9-, 12- and 15-months for purchases of $250 or more. It also offers interest-free instalment plans at partner retailers. SkyePlan instalment plans attract an establishment fee as a percentage of the purchase amount (3% for a 9-month plan, 4% for a 12-month plan and 5% for a 15-month plan).
Mobile payment technology. You can easily make payments upon check out using an eligible device if you register this card to your Apple Pay wallet.
Long-term interest free offers. With Skye Mastercard you get exclusive offers through retailers Australia-wide. Partners include: Freedom Kitchens, Bing Lee, Michael Hill, Nikon, Nick Scali, Motorcycle Specialists and many more.

Eligibility criteria

Must be at least 18 years of age
Must have an annual income of at least $25,000
No history of bad debt or payment default
Australian citizen or permanent resident
Balance transfer must be requested within 30 days of account opening and can transfer up to 80% of your available credit limit from credit and store cards not issued by Skye.

Financial Credit Card

19 Oct 2020

Related Stores

Finder

Third-Party

skyecard.com.au

closed Comments

SpeedRunnerLink on 21/08/2020 - 09:28

-2

nevermind. didnt see the 25minths intereste free
anuarchu21 on 21/08/2020 - 09:46

+1

The $99 annual fee when will it be charged ? And what should be done to pay off quickly so you still really have 0% balance transfer for 25 months ?
You will be charged $99 3 times within this 25 month period
- cloudie9 on 21/08/2020 - 10:15
  
  Usually as soon as you activated the card, they will charge the $99 upfront.
- Nom on 21/08/2020 - 11:12
  
  +1
  
  ^ This
  
  The 25 months "interest free" will actually cost you $297 - it's only "interest free" because they are using a different name for the loan cost.
  Harvey Norman pulls this same crap - $5 monthly cost for the loan means your five year "interest free" loan actually costs you 5 x 12 x 5 = three hundred dollars
- PurpleClover on 21/08/2020 - 15:00
  
  Pay off the balance within 24 months (instead of 25), then you "save" $99.
  
  The interest rates of credit cards (even low rate) are usually >10% or 20% p.a. If you owe $1000 on credit card, the interest charged per year is >$100. The interest saved will cover the annual fee. I am aware that the calculation of interest charged is more complicated than this, but just to give you an idea.
  
  Correct me if I am wrong….
AppleJune on 21/08/2020 - 16:47

Keep getting rejected from all these balance transfer card, even though have excellent credit rating and meeting all the criteria. I don't get how they process these application. isn't it for people have credit card debt and trying to transfer it?
Arjav on 21/08/2020 - 18:47

Benifits of interest free purchase is everyones personal assessments to make. I have been with Skye Mastercard for 2 years. What I can say from personal expeience

. The have very simplified system, easy to understand. Reducing accidental overlooking of hidden costs.
The 110 days of interest free period seems not much on paper, but actully works out very well. All purchases you make today are to be paid in 3rd billing cycle. So smaller-medium purchases, can be easily paid of in those 3 months. Very benifical in reality.
One can simply login to portal and convert purchases over 250 for one time eastablishemnet fees - 9 month @3% 12 month4% 15 month@25
They don't charge any foreign transaction fees.
Downside is No reward/point system on the card
$99 could simply be viewed as annual fee for simplicity of understanding.

*above is a deal on top of the above routin card features and cost.

In using over 15 different card over past years, all I can say is these people don't try to sneek in extra hidden costs. Simple statements and online portal allows for expected managebility. I am not affiliated to them in what so ever form. Simply their customer.
burningrage on 22/08/2020 - 19:30

Are they "reasonable" when doing approval assessment? Or just another losers who keeps rejecting applicants despite good income/low debt/good credit history.

This was posted 4 years 2 months 24 days ago, and might be an out-dated deal.