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If you’re struggling to pay off a credit card debt, you can use a balance transfer credit card to pay it off with low or no interest for a promotional period. BankSA is just one of many Australian banks that currently offers new cardholders low interest or 0% balance transfer offers. The promotions vary between cards, but these balance transfer can sometimes last up to 18 months. At the end of this introductory period, a higher revert rate will apply to any remaining debt.
If you’re looking to take advantage of a balance transfer deal from BankSA, you can use this guide to compare your options and learn how to find the right credit card for you.
As with any debt product, there are some risks that come with doing a balance transfer with BankSA.
If you already have a BankSA credit card, you can request to transfer a balance from up to 2 non-BankSA accounts to your current card. If you do this, you can usually apply for a low promotional offer such as 6.99% for 12 months. You can nominate to do a balance transfer by calling BankSA on 13 13 76 or by logging into your online account. Once logged in, you can select “Transfer & payments” and then “Pay out a credit card held with another bank” to get started.
A balance transfer can be a useful way to pay off your credit card debt while avoiding interest costs. As there are many balance transfer options on the market, make sure to compare your options to find the right card for you. You can use the balance transfer comparison tables on finder to narrow down your options and apply.
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Enjoy 10,000 bonus points and 12 months interest-free on balance transfers and purchases. Plus, an ongoing $0 annual fee.
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