Our credit card debts are going down
Reserve Bank figures that show the average credit card balance slipped by almost $30 in July.
Along with extra repayments, swapping to a card with a better rate can help you make inroads on your card debt.
There are stacks of cards with interest rates below 5% on balance transfers. One card from Westpac for instance, charges a rate of just 0.99% for nine months, with an ongoing rate of 13.49%.
With plenty of balance transfer deals to choose from, look for an offer that suits your ability to make the best use of the low rate period.
Source: Whitsunday Times