4 Best Low Interest Credit Cards for Early 2010

There are a lot of things to consider when you are thinking about which will be the best credit card for you. But when it all comes down to the wire, there is really only one thing to consider – the interest rate on purchases. Unless you are one of the rare people that actually does pay off their balance in full within the interest-free number of days, this will be the sole factor determining whether your card is good value, or a cash black hole. Considering that the average credit card carries a $3000 balance, plenty of people could save by switching to one of these top low-interest credit card picks!

1. Bendigo Basic Black Credit Card

One of the only cards that offers you the same rate on cash advances as you get for purchases … and the purchase rate is currently around 11%. Awesome! You also get 44 days interest free, and the annual fee is only $45.

2. St George Vertigo Mastercard

This card was awarded the ‘Cheapest balance transfer card’ of the year by Money Magazine in 2009. You get 2.99% on purchases for 6 months as well as 2.99% on balances transferred for 6 months. The rate then reverts to 12.24%, with 55 interest free days and $55 annual fee.

3. ANZ Low Rate Mastercard

If you already have a large credit card debt, but have a plan in place to whittle it down and curtail any further spending, then this is the low interest card for you. You get 0% on balances transferred for 6 months, and a standard 12.99% on purchases. Interest free days are 55, and the annual fee is $58.

4. Citibank Clear Platinum Credit Card

We love this card like a mother loves her baby! It’s wonderful all round – all the benefits of platinum, but with basic card rates and an awesome balance transfer deal of 0% for 6 months. Standard purchase interest is 11.49%.