Aussie has today (June 3) announced a new balance transfer rate for its Classic and Platinum cards. New applicants will now get 0%p.a. on balances transferred for the first 9 months, before reverting to the cash advance rate (currently 20.99% as at June 2013). The offer lasts until Aussie advises otherwise.
New balance transfer rate compared
Aussie has significantly improved its offer, which was 5.99% for 4 months, so the Classic and Platinum cards should now appeal to a much larger group of cardholders with a balance to pay down. The new deal makes the Aussie Classic and Aussie Platinum cards super competitive for customers looking to pay down their credit card debt. Only ANZ, BOQ and Bankwest have offers that last for a full nine months, but there are some minor differences between the annual fee amounts and purchase rates to consider with those options.
Aussie Platinum Low Rate Credit Card
Perfect for travelling. With transaction fee-free shopping overseas, low purchase rate & complimentary international travel insurance
Suncorp is currently offering 0.9% for 12 months, and Citibank has cards offering 0% for 6 months, and 1.5% for 15 months depending whether you’re after the Clear Platinum (no frills) version or a rewards card – where you get the longer rate but qualifying might be more difficult.
If you’re considering a balance transfer with any new card provider, you should read our key rules on balance transfers first to make sure the application process goes as smoothly as possible, and avoid unnecessary rejections of your application.
No international fees on purchases, the Aussie advantage
Aussie does have one pretty solid advantage when it comes to the rest of the card features after the balance transfer rate. As of December last year, the Platinum Low Rate card ditched international fees on purchases, which means this card is ideal for the online shopper, or one you can use overseas while you’re away without incurring too many international transaction fees. The Classic Low Rate card does still charge for international purchases, but the everyday rate is super competitive at 12.49% and cardholders still get 55 days interest free and a few other benefits. When it comes to the Platinum version, as a credit card for everyday use the purchase rate is high but then if you can stay within your interest free days and pay the balance down each month that rate won’t be an issue for you, so savvy spenders should definitely take a look at the Aussie card range – because there’s never been a better time to switch to Aussie and get rid of your old card debt.