Low Rate Credit Card - 18 Months Interest Free on BT, 0% BT Fee, $49 Annual Fee (from Second Year) @ CUA

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ahara on 17/04/2020 - 17:49 cua.com.au (322 clicks)
Last edited 23/04/2020 - 01:56 by 1 other user

CUA currently has promotion for 18 months interest free period on balance transfers with 0% balance transfer fee and no annual fee in first year.
Yearly fees are $49 on anniversary and every subsequent year.

Only additional condition I believe there is, is to also have/open an everyday transaction account. I don’t believe there are any monthly fees for that account though.

Maximum Balance transfer: 80% of Credit Limit

Rates and Fees
Annual fee: $0 first year, $49 thereafter
Purchase interest rate: 11.99%p.a.
Interest free days: up to 55
Balance transfer: 0%p.a. for 18 months
Minimum Credit Limit: $500

T&C for CUA Low Rate Credit Card:
Offer only available to new and approved CUA Credit Card applicants from 11/02/2020. This is a limited time only offer which may be withdrawn or changed at any time without notice. Offer not available to transfers from existing CUA Credit Cards. Only one application per account accepted (consolidate up to 3 non-CUA Credit Cards per application). The balance transfer application must be applied for within 3 months of the Disclosure Date in your Offer and Card Contract. Your total balance transfer may not exceed 80% of your credit limit. CUA may allow this to be exceeded at our discretion. The Promotional Interest Rate Period of 0% p.a. interest rate will apply for 18 months from the date the balance transfer application is processed. At the end of that Promotional Interest Rate Period, the Cash Advance Rate (currently 21.74%p.a. as at 17 January 2020 and is subject to change) will apply to any part of the balance transfer which remains unpaid. The 55 days interest free period on purchases will not apply while any balance transfer amount remains outstanding. This means that all purchases will be charged interest at the applicable annual percentage rate.

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  emoticon on 17/04/2020 - 17:53

  Just a heads up, in branch customer service has been really good each time I’ve had a need to go in… however CUA’s online banking and mobile apps are really bad and outdated.

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  miq on 17/04/2020 - 17:54

  +1

  Great offer, thanks OP. Planning on canceling my ANZ CC due to their constant virtue signalling so CUA seems like a nice alternative.

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    ahara on 17/04/2020 - 17:58

    I’m personally doing BT from ANZ as my 18 month promotional period with ANZ is finishing soon. Time to move on

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      jimbobaus on 17/04/2020 - 23:05

      Good thing about ANZ is when you 18 months ends you can do another 18m if needed
      Other banks only offer 6 or 12m for second BT and you usually only get a reduced interest rate.

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  hashtagbargain on 17/04/2020 - 19:26

  Would love to be cua’s customer but they closed both branches near me over a span of a few months. Too much of a hassle now, other banks have much better digital products.

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  ABZ300 on 17/04/2020 - 20:05

  Can this balance transfer offer be used to transfer a current car loan that is with Macquarie bank so there isnt any interest payments on the balance? Or is that not something that can be done?

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    JJkuttan on 17/04/2020 - 20:47

    +1

    Dont think Balance Transfers work for Loans (try check out if it works) BUTTT if they confirm you cant BT to the loan what you can do is apply for a balance transfer to a an already existing credit card…and once the funds have been received transfer it from teh credit card to the loan (i BT to a commbank credit card and I didnt have to worry about any other associated fees)

    One other thing with loans is try pay more than what you owe (even if its is like $10) or slightly less than what you owe (keeping $10 or so) so the bank wont charge you extra for early closing fee or whatever.

    I'm only a post-grad student trying to help you out from my experience

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  fishandchips on 18/04/2020 - 09:47

  From my experience, if you are thinking to balance Transfer to this card and after 18 months you want to balance transfer from this card to another bank, other bank will not allow, because other banks do not balance transfer to credit union. So this is just a heads up, I hope is just me.

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    ahara on 18/04/2020 - 19:23

    Which bank was that where you had this experience ?