In our monthly Ratehacker round-up, Jeremy Cabral from comparison site finder.com.au highlights the latest credit card deals, plus the best savings accounts and home loans.
Money picture from Shutterstock
Credit card usage always peaks in December; we’ll put $3.2 billion in gifts on our cards ahead of Christmas. Using the right card means you can pay no interest, so pick carefully.
Feature: 0% purchase rate
NAB Low Rate Card: 0% interest for 15 months on purchases and balance transfers A 0% rate on purchases means you can spend up for Christmas and then pay off your purchases over time without incurring interest fees. You can also balance transfer at 0% from an existing card for the same period, though you’ll incur a one-off 3% balance transfer fee. The annual fee for the card is $59.
Feature: Bonus frequent flyer points
Virgin Australia Velocity Flyer Card: Double points for the first 3 months During the first three months you have this card, you’ll earn 2 bonus points for every $1 spent (capped at 10,000 points each month). You can also balance transfer from an existing card at 0% for 18 months. The annual fee for the card is halved to $64 for the first year, and you receive a $129 Virgin Australia voucher each year you have and use the card.
Feature: Platinum credit card
ANZ Platinum Credit Card: No annual fee for first year Platinum cards often attract a hefty fee, so being able to pay nothing for the first year is handy (the fee is $87 per annum in subsequent years). This offer, which is a finder.com.au exclusive, also includes a 0% purchase rate for 3 months and a 0% balance transfer for 12 months.
The Reserve Bank will announce its monthly cash rate decision next week, but it’s already evident that banks are largely ignoring the official figure, with many major banks adjusting their rates ahead of their decision. We’re still in peak real estate season, so shopping around for the best deal is essential.
Feature: Variable rate home loan
loans.com.au Essentials Home Loan: 3.41% per annum variable comparison rate This loan has one of the lowest variable rates on the market right now. It’s only available to owner-occupiers, and you’ll need a 20% deposit saved.
Feature: Investment home loan
UBank UHomeLoan: Variable comparison rate of 3.79% per annum A competitive interest rate with $0 application fee and no ongoing maintenance charges make this an option worth considering for investors. You’ll need a 20% deposit and the maximum loan amount is $2 million.
Feature: Bonus interest
ANZ Online Saver: 2.85% per annum interest rate for the first 6 months Banks have been trimming their bonus rates for online savings accounts all year, so it’s pleasing to see one that actually runs as long as 6 months. The 2.85% per annum rate drops to 1.25% after the bonus period concludes.
Feature: Cash bonus
ING DIRECT Orange Everyday Account: $75 cash bonus for new customers New customers who sign up before 25 December 2016 and deposit at least $1,000 every month will receive $75 in their account. The offer is limited to the first 6,000 customers.
Feature: P2P loan
MoneyPlace Peer-to-Peer loan: Personal loans from 8.90% per annum Peer-to-peer loans involve matching individual lenders with borrowers, so the rate you’ll get depends on your credit score. (You can check your credit score for free if you want to get an idea of your current status.)
Feature: Policy discount
youGo Travel Insurance: 10% off all policies Receive a discount on your travel insurance with this finder.com.au exclusive coupon.
Jeremy Cabral is the Global Head of Publishing for finder.com.au which includes tools to compare credit cards, find savings accounts, energy deals, mobile & broadband plans, and a constantly updated database of discounts and coupon codes. Connect with Jeremy on Twitter, Medium and LinkedIn.