Save up to $139 in a year with a 0% BT card | Dollar Saver tip #78
Save: up to $139
Tip overview
Fallen behind on your credit card repayments? Don't feel bad. The average Australian cardholder is getting charged interest on a balance of $1,365 (that's according to the RBA).
And with the average standard credit rate now at 20.16% (also according to the RBA), you'd end up paying $153 in interest if you took a year to pay that balance off.*
Did you know?
If you switched to a credit card with a 0% balance transfer offer, you could pay it back in a year with no interest at all. Some cards, like St.George's Vertigo Card, give you 28 months interest free.
Even factoring in the card's 1% balance transfer fee ($13.65) this still saves you $139 in interest.
*We used Finder's credit card calculator to estimate these figures.