Best Trans­ac­tor Credit Cards Cheap­est Balance Trans­fer Credit Cards

GOLD WIN­NERS BANK TEACH­ERS MU­TUAL BANK & UNIBANK NON-BANK HORI­ZON CREDIT UNION Low fees and a gen­er­ous in­ter­est-free pe­riod are the keys to a good deal

Money Magazine Australia - - CONTENTS -

In the bank­ing in­dus­try, “trans­ac­tors” is the name given to card­hold­ers who pay off their balance in full each month. If that sounds like you, the in­ter­est rate you pay on your card isn’t an is­sue.

The key fac­tors are fees, es­pe­cially the an­nual fee, be­cause this is chiefly how the card is­suer will make money from your ac­count. Also con­sider the num­ber of in­ter­est-free days be­fore you’re slugged.

This year sees dual fron­trun­ners among the banks: Teach­ers Mu­tual and UniBank. They were equal sec­ond in 2018, and once again there’s not much be­tween them.

Both have an in­tro­duc­tory rate of 7.90% for the first six months, af­ter which the re­vert rate of 11.5% ap­plies.

Even if you do not re­pay your out­stand­ing balance en­tirely in the previous month, you are still el­i­gi­ble for up to 55 days in­ter­est free on ev­ery pur­chase. Credit lim­its for both cards range from $1000 to $25,000.

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