Pay no credit card interest for two years
Savvy credit card users can avoid interest charges for more than two years by moving their debt between five credit cards offering interest free periods of between four and six months. With five issuers offering zero rates on transferred balances, borrowers can shift from card to card and pay no interest for 30 months, or fees for 10 months. The downside is that any new spending incurs interest at rates of up to 18.5 per cent. Among credit card issuers with zero rate honeymoon periods are ANZ, BankWest and Coles Myer.