Should I move my credit card to Australia?

Question

Hi guys,

I've moved to Sydney already from NZ and I have 2 credit cards with the ANZ bank from when I was in New Zealand.

At the moment I've just got a new job in Sydney.

I've got offered from the Commonwealth bank to transfer my credit card from ANZ to the Commonwealth AU.

Should I move my credit card to Australia? Is it bad idea to move my credit card to AU? Should I keep my credit card from NZ?

jess · Answer

Hmm... this is an interesting situation.  If you sent money bak to nz to pay the credit cards..the money would be worth more.  But if you bring the cards over to Aus, the debt may be less.

So I would do some homework and see what option is better.  Obviously consolidating all your credit cards could save you a bit of money on interest.  If you are pretty good at paying your credit cards and intend on going back to NZ, maybe leaving the accounts open could be a good thing for you.