Best Introductory Credit Card

April 14th, 2010

To stand out from the crowd of credit cards some issuers will offer special introductory deals. Most often this introductory offer entails a low interest rate or enhanced reward points collection for a limited time. Find out what are the best introductory credit cards out there right now to see if any of them might be particularly useful to you.

2.99% p.a. for 12 months

With the large number of credit cards out there in the market, card issuers are increasingly desperate in attracting new customers. One of the methods they are using to accomplish this is to offer an introductory deal on their cards, hoping that the customer would stay with them after the end of the introductory period. The best intro cards are those which provide a good initial offer and can be used with relative ease later on as well. The best introductory credit cards for you would also depend on your particular needs.

How to select the best introductory cards

Not all introductory cards are suitable for every type of cardholder. To get the best intro cards working for you, be aware of these points while evaluating the best introductory credit cards list:

Primary purpose of the card – Is it for a balance transfer, regular purchases, rewards, or low interest rates. Allocation of repayments – The cheapest debt is repaid first, so don’t make the mistake of using a balance transfer card to make purchases. Total fees – What associated fees and charges there might be, including annual fees, balance transfer fees etc.

The best introductory credit cards

This is a list of the best intro cards currently in the market, and their most salient features. Use this list along with the above guidelines to select the best introductory credit cards for your circumstances.

St.George Amplify – 0.99% on balance transfer for 6 months. Earn double reward points till June 30, 2010.
Bankwest Lite MasterCard – 10.99% p.a. interest rate on purchases. 4.99% p.a. for 12 months balance transfer.
ANZ Low Rate MasterCard – 0% p.a. for 3 months (reverts to 13.24% p.a.) interest on purchases. Balance Transfer of 0% p.a. for 3 months.
Bankwest Zero Platinum MasterCard – No annual fee. 4.99% p.a. for 12 months on balance transfers.
Citibank Clear Platinum Visa Card – 11.99% p.a. interest rate on purchases. Balance transfer offer of 2.9% p.a. for 12 months.
St.George Vertigo – Interest rate on purchases of 13.24% p.a.. 0.99% p.a. for 12 months on balance transfers.
ANZ Frequent Flyer – Enhanced reward points collection through two cards (Visa and Amex) on same account. Bonus 10,000 Qantas points on signing up.
HSBC Credit Card – No annual fee. Balance transfer of 0% p.a. for 6 months with 2% handling fee.