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

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