Hi all
Looking to get a “balance transfer” card
Ideally 24-38 months, but ok for 12 months if fees are lower
Minimum fees
Ability to “transfer” from a card with $0 balance. Eg. Current card has $0 owing, but id transfer $10k and put the current card into positive $10k
Maybe sign up frequent flyer points, but probably asking too much here
Which card is recommended by the community?
Thanks for your feedback
I cant see where it calls our the 2% balance transfer fees?
My approach would be to do the balance transfer once. i.e. $10k straight away
Also, checking out this specific card, appears there are also no annual fee for the first year: https://virginmoney.com.au/credit-card/compare-our-credit-ca…
or try this: I was on this a couple of years ago:
https://www.bankwest.com.au/personal/credit-cards/no-annual-…
I think the virgin card makes the most sense as there are no balance transfer fees (unless I missed it) and no annual fee for the first year:
https://virginmoney.com.au/credit-card/compare-our-credit-ca…
Whereas the Bankwest doesnt have annual fees, but 3% BT transfer fee, which on $10k = $300, which is essentially 2x annual fees.
@popcornready: Yes and no. As offered on my own credit card, I’ll have to pay a one-off 2% BT fees for 9 months(confirmed when I phoned them) and I’ll be charged extra fees for future retail purchases once successful. This must have been targeted for existing cc owners. I’m already paying $25/month from CBA and I thought this would have been cheaper but then I still want to use my credit card to rack up frequent flyer pints so I canceled my application in the end. Go what works best for you. I’ll keep looking for better options I guess.
Nab has 32 months interest free, no balance transfer fee.
https://www.ozbargain.com.au/node/757147
It's for any card. So could get a low rate nab credit card which is $30-59 per year, and has a $300 rebate if you spend $1500 in the first 3 months on it.
I've just applied for 0% balance transfer fees on the virgin velocity card I am on. It says 2% balance transfer fees excluded for 9 months -
https://virginmoney.com.au/credit-card/tools-and-calculators…