The 0% balance transfer period on the $15,000 I'd done with BankWest came to an end this month, so I made a payment from my credit union account to pay off the outstanding balance. I still have some "free" money from HSBC invested until October at 6.10%, but it's time to start looking around for some more 0% balance transfer offers. I think there's one available from ANZ bank, where I have an account for my SMSF, but these days you have to be very careful to read the fine print, as many of the 0% offers charge a "transfer fee" or an annual card fee which eats into the possible profit margin. For US readers who are looking for 0% no fee balance transfer offers there are several to choose from, with many having no annual card fee and no transfer fee. Unlike Australia though, you have to consider the impact of aplying for additional credit cards on you credit rating in the US - it may cost you later on if you end up paying a higher interest rate on other borrowings such as a home loan.
Copyright Enough Wealth 2007