Answer to Question #194306 in Other for Reuben Livingston

Question

Annie has received an offer in the mail to transfer her $4000 credit card balance to a ne provider. The offer is ‘low rate and no fees. The rate offered is 4.99% p.a. compounded monthly for 6 months with no application fees or transaction fees. However, in the terms and conditions it says

- after the 6month introductory period, the interest rate ill reverts to 18.6 p. a, which is a variable rate.

The transferred balance will be repaid first

Government charges and a late payment fee may apply

Minimum monthly repayments are required to be 3 of the outstanding loan amounts of $30, whichever is the greater

a)      what advice can you give Annie

b)     why might Annie consider switching to a new provider?

Answer 1

Dear Reuben Livingston, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order