How can a balance transfer credit card help you?

2 October 2008

Australians now have $44 billion in credit card debt, with the average Australian having 3 credit cards and $3200 in credit card debt. Many Australians are using their credit cards to buy everyday items such as petrol, groceries, and other utilities.

Unfortunately, this is sending Australians into debt that they may not be able to get out of easily. As Australians get further and further into debt they can lose track of how much they owe and who they owe it to. Many people toss their credit card statements aside without looking at them.

A balance transfer credit card can help you keep track of what you owe. Balance transfer credit cards consolidate the debt on your other credit cards on to one single credit card. This will give you one bill to pay off.

Many balance transfer credit cards can be a low rate credit card, as they often come with an introductory period that has a low interest rate. Some of these introductory periods can have 0% interest rate for the introductory period.

If you do use your credit cards for everyday shopping like your groceries, you may benefit from the Woolworths Everyday Money credit card. With a competitive balance transfer rate for the introductory period, this credit card comes with a great rewards program for its cardholders.

Compare credit cards and find the credit card that will benefit you.

Back to News Index | Back to Home