Australian Banks Now Offering "Free-Free" 0% Credit Card Balance Transfer Deals

0% credit card balance transfer deals have created a boon for many credit card companies as savvy credit card holders take advantage of the many offers zero percent balance transfer deals available on the market today. It's a win-win situation: credit consumers save a lot of money in interest charges and credit card companies win new business. But a major advantage for the credit card companies is that with many balance transfer offerings, any new charges made on the new credit card account to which the balance(s) have been transferred are subject to very high interest rates, sometimes as high as 25 percent! A disciplined consumer can easily avoid these high interest rates by using cash, a debit card or a different card with a low interest rate when making new purchases. Other not-so-disciplined consumers may falter and get hit with the very high interest rate.

Well, it looks like balance transfer deals may be evolving for Australians, as BankWest is now offering a balance transfer deal where no interest is charged on both the balances transferred and new purchases for a period of four (4) months! This news is pretty exciting for credit consumers "down under", especially if this becomes a new trend that spreads throughout the Australian credit card industry. Click here to read the full story.

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In UK, New Fees Imposed In An Attempt to Curb 0% Balance Transfer "Rate Tarts"

Credit card providers in England are cracking down on clever credit card consumers who are transferring their credit card balances from one 0% balance transfer deal to the next ("rate tarts".) But even with the newly imposed fees, many savvy credit card consumers continue to transfer their balances, because the savings in interest charges greatly outweigh the 2-3% balance transfer fee that these banks are now imposing. Click here to read the full story.

Balance Transfer deals seem to be evolving. Instead of offering an interest free introductory period for balance transfers, many credit card providers are now offering a 3.9% interest rate on balances transferred, a rate that stays constant until the transferred balance is paid off. Some banks are now giving you the freedom to choose either a temporary interest-free period on transferred balances, or a 3.9% fixed rate on transferred balances until the transferred balance is paid off. Freedom of choice is always a good thing!

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