Balance Transfers Explained
A credit card balance transfer is when you transfer the balance of an existing credit or store card that you have with another provider to a Credit Union MasterCard®.
Why pay the fees on several credit or store cards when you don’t have to? You can save considerably on fees by consolidating the balance of any existing credit or store card balances. The best part is that when you transfer the balance of existing credit or store cards to a new Credit Union Platinum MasterCard®, you’ll pay no interest on any balance transfered from other card providers for the first 9 months. Alternatively, when using the Credit Union Rewards MasterCard® you will enjoy a reduced rate of only 1.9% p.a.* on the balance you transfer for the the first 6 months.
To transfer a balance from another financial institution or store-issued credit card, or to learn more, simply call us on 1800 QLDERS. As part of our promise to provide banking that’s personal, we’re happy to talk you through the process and find a solution that meets your needs.
Terms, conditions and credit criteria apply and are available upon request. At the end of the balance transfer period, the interest rate on any outstanding transferred balances converts to the cash advance rate current at that time. Final approval of your MasterCard® application will be subject to satisfying Card Services Credit Criteria. Interest rates are variable, subject to change and Card Services Credit Criteria.*Transferred balances will be repaid first. Outstanding balances at the end of the promotional period will revert to the cash advance interest rate current at that time. Introductory Rate offers are not available to existing MasterCard® Cardholders of this Credit Union or holders of Credit Cards issued by Citigroup. Balance transfers cannot be used to pay off any other product with this Credit Union. Introductory rates of 6.9% p.a. (Low Rate MasterCard®) and 3.9% p.a. (Rewards MasterCard®) apply for five (5) and six (6) months from date of account approval respectively.