RateCity
Can Credit Cards Pay You Interest?
Having a credit card issuer pay you interest sounds like the best deal to good to be true? After all we have 0% interest on purchases for a limited period and 0% balance transfer for life and many other types of introductory offers. But there is a hitch, you actually have to have a surplus balance.
This feature is not available in many of the 200+ cards available in Australia and for many people not worth considering. However, credit cards that pay interest are almost like a debit card with an overdraft facility. In other words you could do away with a transaction account or a savings account and just consolidate with one product? Likely to reduce transaction fees, possibly earn some rewards points and receive one statement of all your activity, knowing that if you have a surplus it will pay you interest and when you are short there is a cost.
This feature is not available in many of the 200+ cards available in Australia and for many people not worth considering. However, credit cards that pay interest are almost like a debit card with an overdraft facility. In other words you could do away with a transaction account or a savings account and just consolidate with one product? Likely to reduce transaction fees, possibly earn some rewards points and receive one statement of all your activity, knowing that if you have a surplus it will pay you interest and when you are short there is a cost.
