Which credit cards provide cash advance deals?

23 May 2008

Credit cards often charge extremely high interest rates for cash advances, which makes them very expensive as they have a lack of interest free days. Some credit cards offer reasonable cash advance interest rates compared to their purchase interest rates, though, and if you use cash advances frequently you would probably be best with one of these good value cash advance credit cards. It's still important to limit your usage of cash advances and to repay them as quickly as possible, but these credit cards may be able to keep your debt low until you find the money to repay it.

The Aussie MasterCard has a very low purchase interest rate of 11.99% p.a. but unlike similar competitors which have a high cash advance rate to compensate, this credit card charges cash advances at 15.99% p.a. That costs a low $49 in annual fees and also allows for a 6 month interest free balance transfer period. If you are capable of making frequent repayments, you can definitely keep your credit costs down with the Aussie MasterCard.

For an even better cash advance rate at a higher cost on purchases and annual fees, you will want to consider the St. George Starts Low Stays Low Credit Card. This card has an all round interest rate of only 12.99% p.a. which is competitive in terms of purchase rate and phenomenally good for a cash advance rate. It does cost slightly more than the Aussie MasterCard in annual fees, though, at $59 per year. Unfortunately, it does not include a reduced rate balance transfer period, either. Still, if you find that you use cash advances on a regular basis, this card could easily save you more money on credit than any other credit card.

If you would like to find more low cash advance rate credit cards or wish to compare these ones to the many others on the market, please visit our comparison page for a selection of some of Australia's best credit cards.

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