Hi All,
The banks are fighting it out with credit card deals. Just a reminder, it's better to pay no interest. That is what we advocate, no credit card debt! But if you have credit card debt, you might as well save some cash while you pay it off. Here is the guts:
Balance Transfers - Kiwibank and BNZ
If you have an existing credit card with money owing on it you can save up to 17% on interest. How? Transfer the balance to either Kiwibank or BNZ and get a low rate for 6 months. So if you can pay off your credit card in 6 months, fantastic! If it takes longer you can still be on a lower rate. Say around 12.6-12.9% rather than 19-20%!
Kiwibank - 2.99% for six months balance transferred. 12.9% thereafter and for any new purchases. $25 account fee every six months.
BNZ - 5.99%for six months on balance transferred. 12.65% thereafter and for any new purchases. $5 per month account fee.
On a $10,000 credit card that could save you $650 in interest over the next six months. Not bad. Get going and apply online or at a branch by 31/10/2007.
Cam