As the need of high personal line of credit is widely increasing, in such a poor state of economy, people hold many credit cards, each having large account balance. This may create negative impact on your credit score, as it is difficult to meet minimum credit requirements of every card in specific month. Fortunately, there are some cards like balance transfer credit cards, which are particularly designed to combine all credit card debts, making a single monthly payment facility possible for an individual. Here is the comparison of features and charges associated with balance transfer credit cards of different companies-
• Emirates Citibank Platinum Credit Card: It provides 0% balance transfer facility for initial seven months and charges introductory fee as low as 2.9% per annum. This credit card charges annual fee of $229 and comes with an option of credit card insurance coverage facility. Apart from these, it also offers additional features like purchase cover and international travel insurance. Emirate Citibank platinum credit card also provides other advantages like 24/7 concierge around the whole world.
• HSBC Credit Card: It offers 0% balance transfer facility for initial six months with 2% handling fees. Customer, who opts for HSBC balance transfer credit card, doesn’t need to pay any annual maintenance fee for lifetime. On purchases, there is no interest charged for initial period of 55 days, but after this grace period over, it charges interest rate of 17.99% per annum.
• ANZ Platinum: It provides 0% balance transfer facility for initial six month and doesn’t charge any annual maintenance fee for one year. ANZ Platinum balance transfer credit card offers medical and overseas travel insurance coverage without any additional cost. Apart from these, it provides domestic interstate flight inconvenience and ANZ car rental insurance coverage. Card offers extended warranty on bulk household and personal purchases with security of 90 days. Other features include ANZ platinum concierge 24/7 and price guarantee on goods procured in Australia.
While making the selection decision of balance transfer credit card out of those available in the market, confirm whether credit card provider charges late payment penalties or not. Some companies hike interest rates suddenly after promo period. Research on your options vigilantly to avail right balance transfer credit cards.
