Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Friday, July 22, 2005

Australia's Westpac Bows Out of The Credit Card Balance Transfer Wars

Australian credit card companies competing with Westpac's credit card products are offering some excellent credit card deals e.g. cards with a 0% introductory annual percentage rate (Intro APR) for six (6) months with no annual fee and a "go to*" interest rate that's less than 10%. Westpac is staying out of this "irrational pricing war" because "Balance transfer chasers, every six months, will just [transfer] their balance [to a new card]...As a bank that isn't exactly the way to make money." Despite all the great 0% balance transfer deals available to Australian credit consumers, Westpac is now offering a new low rate card that has a 10.75% APR and a fifty dollar annual fee.

Click here to read the full story


*The "go to" interest rate is the interest rate that a credit card company will charge once the 0% Intro APR period ends.


>  SITEMAP  <





FedPrimeRate.com
Entire Website © 2017 FedPrimeRate.comSM


Information in this website is provided for educational purposes only. The owners of this website
make no warranties with respect to any and all content contained within this website. Consult a
financial professional before making important decisions related to any investment or loan
product, including, but not limited to, business loans, personal loans, education loans, first
or second mortgages, credit cards, car loans or any type of insurance.