Credit card interest rate offers increasing?

[JohnK]

I have been clearing a lot of my credit card balances recently and find that I am now receiving very generous interest rate offers to maintain a credit card balance. I know most on AFF would not be paying interest on credit cards but just the same sometimes these offers can be as lucrative as bonus points.

ANZ Low Rate Mastercard has offered 1.9% for 18 months and it is one offer I am definitely taking up considering that terms deposit rates are ~6%.

Also just received an offer of 3.99% for 12 months on all purchases on Qantas Amex Premium card. Considering I need to pay ~$10,000 to the ATO in the next few months I would be worthwhile to leave this balance unpaid and use the money to clear some higher interest rate credit cards. Considering that I will also receive ~20,000 QFF points and the normal interest rate on this card is ~21% I believe this is a very generous offer.

 

[cove]

If it is comfort you need on paying taxes JohnK I recommend you phone my automaton girlfriend at the Tax Office.Actually you also earn points on the processing fee on Amex so she is a really nice lady.The low rate deal sounds very good for a consolidation of card debt if they are getting 20% interest out of your pocket.

 

[oz_mark]

I have had a few offers this year, such as bonus points for achieving some expenditure hurdle in a stated time period (three of them this year). I've also had the Amex offer.

Notably though, none of the offers are from one of the big 4 banks.

 

[RayEthell13]

Yes. They may. But let me tell you , interest rate goes up or down, the usage of credit cards is under your control. Choose the best credit card which has lowest interest rates, purchase less at times to make your savings good and pay all your bills on time. Best Wishes!


Regards,
[company name redacted]