What is a Balance Transfer Credit Card?

Whats a Balance Transfer Credit Cards

A Balance Transfer Credit Card is a credit card with a significantly lower interest rate for balance transferred from another credit card, and a standard rate for newly incurred debt. Essentially, a Balance transfer credit card has a separate interest rate for the balance you transfer and another for newly incurred debt on the card.
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Top New Zealand Personal Finance Blogs

Screen shot of Sorted.co.nz
We often get emails from our readers seeking personal finance advice so we have taken some time to pull together a list of great Kiwi personal finance blogs that you might find useful. Sure… there are many personal finance blogs out there, but our problems in New Zealand are unique to our little part of world so we have focused our effort on New Zealand blogs. Below are our selection. We would love to hear from other Kiwi blogs that want to be added to this list.
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Credit card travel insurance – How does it stack up

Photo of the front of a New Zealand Passport

Image of front of New Zealand passport.

Credit card travel insurance refers to travel insurance that comes as complimentary with credit cards. Many high-end credit cards in New Zealand now offer complimentary travel insurance, but how do they stack up against standard travel insurance? Are they a suitable alternative for standard travel insurance? Below we explore some of the pros and cons to help you decide.
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The History of Comparison Shopping (New Zealand)

comparison shopping

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Price comparison sites have been around for a while. In the early 2000s comparison engines such as Kelkoo, shopping.com and Price Runner emerged to become some of the most visited websites by online shoppers in the UK and US. These price comparison engines allowed merchants to submit their product feeds for inclusion but also scoured the internet for product information for inclusion into the comparison engine.
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The new “positive” credit reporting system

Positive Credit Report

Almost everybody in New Zealand has a credit report and this credit report is used to conduct a credit check on an individual who has applied for credit to determine how risky it will be to lend to that individual. A credit check is carried out not only by banks and loan providers but by some power companies, landlords, insurance companies etc.

Previously New Zealand used what is called a “negative” credit reporting system. Using this system the only credit records kept were a list of credit applications and information on any negative events such as defaults on loans, failure to pay bills like power on time.
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Top New Zealand Personal Finance Blogs

Image by lifacolor@Flickr.com under creative commons

We understand that some of our visitors might be struggling with their personal finances and as much as we will like to provide you with all the information you will need to get your finance back in shape, we simply can not cover everything on our site so, we have taken the time to put together a list of some great New Zealand personal finance blogs you might find useful.
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Things worth knowing about Rewards Credit Cards

Cash Reward Credit Cards

Image by Tim Patterson@Flickr.com under creative commons

What are Reward Credit Cards?

Rewards credit cards are becoming increasingly popular. Most banks offer a points programme to customers to reward them for using their credit cards. Some of the rewards offered in New Zealand include Fly Buys Points, Airpoints Dollars, Platinum Rewards Points, cash back and more.
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Common Credit Card Traps and Pitfalls

credit card

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Why do people use credit cards?

Credit cards are a great thing, a ready source of money in case of an emergency or to buy that new dress, plus some credit cards come with great rewards and are the payment method of choice on the internet. However, if not used properly credit cards can lead to long term debt. It is important that credit card owners are aware of the many pitfalls that exist and how to avoid them. Knowing these credit card traps and how to avoid them will ensure a happy relationship with your credit card.
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Guide to using your Credit Card Overseas

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Why should I care?

We all know that it is handy to have a Credit Card with you while traveling in case you run out of money and get stranded. But using your credit card overseas is a bit different from using it in New Zealand. There are a few important things to consider before you set off on your trip. For example many European countries do not allow signature verification of credit cards and many ATMs overseas do not accept 6 digit pin numbers.
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