Quote:
|
Originally Posted by JohnK
I see your point but considering Australia's ever increasing credit card debt the interest rate should be relevant to most people. The large balance transfer at 0.99% for 6 months will help reduce my share of that credit card debt.
I don't have any figures to back me up but I would guess that there are more people with credit card debt than people who pay off their credit card bills every month.
This may depend on the number of people deserting the card.
|
Paying 0.99% is not so bad, as you could invest your money in a internet savings account at about 6% and pocket the difference. BUT this would only work if you are smart enough not to use your card for any purchases, as new purchases would attract the high interest rate.