Credit Card weight loss tips for 2010

Wednesday 06 January 2010

Article by Mozo

Chances are your credit card got a pretty decent workout (unlike your waistline) over the holiday period. So, if you are putting off opening up that rather pudgy looking envelope with your bank’s logo on it, don’t dispair (or eat another scorched almond!), here are some top tips for quickly and easily reducing those unwanted credit card pounds.

1. 0% balance transfer cards. Why pay 18% interest on those pink fluffy slippers you bought your mum for xmas? Get a 0% balance transfer card. Many banks offer 0% balance transfers for up to six months but be sure to read the fine print. On some cards unpaid balance transfers are hit with sky high cash advance interest rates instead of the card’s standard interest rates once the introductory balance transfer offer ends.

Current 0% balance transfer offers include:

ANZ low rate NAB low rate Citibank Clear Platinum

2. Long Balance Transfer Cards. If you know that you won’t be able to pay off your debt quickly, opt for a card which gives you more time to pay off the balance (usually 9 – 15 months) and has a lower rate than your current card.

Top deals: BankWest Lite – 1.99% for 12 months Citibank Gold Card – 1.90% for 9 months BankWest Zero Platinum – 1.99% for 12 months Citibank Platinum – 4.90% until repaid

3. Give your card a Free Health Check If your last credit card statement gave you heart palpitations it’s time to give your card a health check. Mozo’s award-winning health check service gives you a free analysis of your credit card and tells you how much money you could save by switching cards.

Health Check my card now!

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