You can take advantage of promotional interest rates to transfer a credit card's balance to a new credit card. Balance transfers give you the opportunity to pay down debt.
Enjoy interest free loans & low processing fee with StanChart's balance transfer loan facility. Flexible repayments that come with zero interest. Apply now!
Can money transfer credit cards give you interest free cash loans? Read the Uswitch guide to find the best interest-free money transfer credit cards
Understand how credit card interest works and how to take advantage of a interest-free period.
With a balance transfer credit card you can move high-interest debt to a lower rate, making it easier to pay off. ; Your credit limit, promotional period, and interest rates will vary based on your circumstances. ; To keep your promotional rates, you’ll need to stay within your credit limit and make your monthly payments on time.
CNBC Select compares the best 0% APR credit cards with no interest for up to 21 months, so you can maximize savings.
Before you transfer a balance to a credit card with a lower interest rate, understand its effect on new purchases and other costly fine-print traps.
Related articles ; What's a credit card interest-free period ; How to understand & check your credit score ; How to minimise credit card fees
Card, Interest rate on purchases, Interest rate on cash advances, Total annual fee ; ANZ Platinum, 20.99% p.a., 21.99% p.a., $87 annual fee if you spend less than $20,000 a year on eligible purchases ; ANZ First, 20.99% p.a., 21.99% p.a., $30
Written by Garrett Yarbrough ; Edited by Courtney Mihocik ; Reviewed by Jason Steele