Bankdriect Highlights Low Interest Credit Cards
Bankdirect Highlights Benefits Of Low Interest Credit Cards For Consumers
• Lowest interest rate in market at 10.95% p.a.
• First in New Zealand to feature Visa’s new branding and enhanced security
• Sleek new black design
BankDirect believes many New Zealanders aren’t using the most appropriate type of credit card to suit their financial needs. It used the re-launch of the BankDirect Low Interest Visa card (LIV) to educate people about this.
BankDirect’s LIV has the lowest interest rate in the New Zealand credit card market. It is a card designed for people who do not pay off their entire balance each month.
Anna Curzon, Marketing Manager BankDirect, says many New Zealanders choose not to pay off their entire balance monthly, but remain with high interest credit cards that increase their monthly debt.
“Low interest credit cards are very popular overseas with ‘revolvers’ - people who don’t typically pay off their entire credit card balance each month. In contrast, many New Zealanders are using standard credit cards and paying up to eight or nine percent extra in interest, which could equate to a saving of up to $90 for every $1,000 credit per year. With the increasing levels of household debt*, the last thing people need is to be paying a higher than necessary level of interest on their monthly credit card account.
“Low interest credit cards are a smarter choice for many people. The lead up to Christmas is always a time when people’s finances are stretched, so we’ve redesigned our card to get their attention and have them consider a potentially better solution. We want people to know that there may be a credit card better suited to their spending and repayment habits.
BankDirect is using its popular text service for people interested in LIV. Interested parties simply text the word “card” and their e-mail address to 3003, and BankDirect will send them more information.
BankDirect LIV – key information:
Interest rate: 10.95% p.a.
Six monthly fee: $30
Debit and credit card all in one.
Credit balance interest rate: 3.50%
Already ranked top by several credit card research groups