0% Balance Transfer Credit Card Offers

Want to save money on interest charges and pay off debt faster? Read this guide to find out how a 0% balance transfer credit card can help.

Balance transfer credit cards let you move debt from an existing card to a new card with a low interest rate during the honeymoon period. The lower the interest rate, the more you can save and the faster you can pay off the balance as a result, which is why 0% interest balance transfer cards are so popular.

Here, you’ll find out more about 0% balance transfer cards, including how they work and how to compare them, so that you can make the most of these offers if and when you need them.

HSBC Platinum Credit Card - 0% BT Offer - Jan

0% Balance Transfer Credit Card Offer

Earn Reward Points with the HSBC Platinum Credit Card, a promotional balance transfer rate and the annual fee is refunded each year if you spend $6,000 on eligible purchases.

  • Enjoy 0% p.a. for the first 15 months on application for balance transfers (reverts to the variable cash advance rate).
  • $0 annual fee. Save $149 each year if you apply by 31 August 2016, are approved and reach a yearly spend $6,000 on eligible purchases.
  • Earn 1 Reward Point per $1 spent on eligible purchases.
  • Up to 55 days interest-free on purchases when you pay the full closing balance (including any balance transfer amount) by the statement due date.
  • Benefit from a wide range of premium services such as Complimentary Insurances and Visa Platinum Concierge Service.

    0% Balance Transfer Credit Cards Comparison

    Rates last updated June 29th, 2016.

    St.George Vertigo Platinum

    Balance transfer has been extended to 29 Sep 2016 + new offer of 1% for 12 months on purchases.

    June 24th, 2016

    Bank of Melbourne Vertigo Platinum

    Purchase offer changed from 0.99% for 4 months to 1% for 12 months, valid until 29 September 2016.

    June 24th, 2016

    Bank of Melbourne Vertigo Visa Credit Card

    Purchase offer changed from 0.99% for 4 months to 1% for 12 months, valid until 29 September 2016.

    June 24th, 2016

    View latest updates

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    Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
    HSBC Platinum Credit Card
    Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
    0% p.a. for 15 months 19.99% p.a. $149 p.a. Go to site More info
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
    0% p.a. for 18 months 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
    St.George Vertigo Visa
    A low balance transfer offer 0% p.a. for 18 months and a low ongoing rate on purchases. Plus a low annual fee.
    0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
    ANZ First Visa Credit Card - Exclusive Offer
    Exclusive Offer to finder.com.au

    Enjoy 0% p.a. for the first 12 months on balance transfers and 0% p.a. for the first 3 on purchases.

    0% p.a. for 12 months 0% p.a. for 3 months (reverts to 19.74% p.a.) $30 p.a. Go to site More info
    American Express Essential Credit Card
    Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
    0% p.a. for 12 months 14.99% p.a. $0 p.a. Go to site More info
    HSBC Platinum Qantas Credit Card
    Receive a bonus 40,000 Qantas Points on eligible spend within 3 months with a low balance transfer offer.
    0% p.a. for 6 months 19.99% p.a. $199 p.a. Go to site More info
    Bank of Melbourne Vertigo Visa Credit Card
    Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for 12 months on purchases.
    0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
    Coles Low Rate MasterCard
    A low rate MasterCard with a competitive rate on purchases and a low annual fee.
    0% p.a. for 6 months 9.99% p.a. $49 p.a. Go to site More info
    Bank of Melbourne Vertigo Platinum
    A platinum card with a low balance transfer offer of 0% p.a. interest for 20 months and 1% p.a. for 12 months on purchases combined with complimentary insurances and annual fee waiver in the first year.
    0% p.a. for 20 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $0 p.a. annual fee for the first year ($99 p.a. thereafter) Go to site More info
    St.George Vertigo Platinum
    Long term balance transfer offer with platinum benefits, together with a low ongoing rate on purchases.
    0% p.a. for 20 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
    Coles No Annual Fee MasterCard
    Enjoy no annual fee for the life of the card and earn 0.5 flybuys point per dollar spent.
    0% p.a. for 6 months 19.99% p.a. $0 p.a. Go to site More info
    Citi Qantas Signature Credit Card
    Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
    0% p.a. for 6 months 20.99% p.a. $99 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
    NAB Premium Card
    Benefit from platinum perks plus take advantage of a low interest rate balance transfer offer.
    0% p.a. for 15 months with a one off 2% balance transfer fee 0% p.a. for 15 months (reverts to 19.74% p.a.) $90 p.a. Go to site More info
    Virgin No Annual Fee Credit Card
    No annual fee for the life of the card with $100 cashback and a 0% p.a. offer on balance transfers for 18 months. Spend criteria applies for cashback offer.
    0% p.a. for 18 months with 2% balance transfer fee 18.99% p.a. $0 p.a. Go to site More info
    BankSA Vertigo Platinum
    Enjoy 0% balance transfer rate for 20 months and 1% purchase rate for 12 months if you apply and are approved by 29 September 2016.
    0% p.a. for 20 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info

    How do 0% balance transfer credit cards work?

    The advantage to getting a 0% balance transfer credit card is that you pay no interest during the introductory period when you move existing credit card debt or debts to the new card. With introductory offers ranging from a few months to a year or more, these cards not only have the potential to save you hundreds of dollars on interest charges, but also to help you pay off the debt faster.

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    To put this into perspective, let’s say you’re paying $100 a month towards a $1,000 credit card debt on a card that charges 20% interest. At this rate, it would take you 25 months to pay off the debt and cost you a total of $202 in interest.

    If you moved that debt to a card with a 0% balance transfer offer for 12 months, it would take just 10 months to pay off the debt without any interest being charged.

    The important thing to remember about balance transfer credit cards is that the 0% rate will revert to a higher, standard interest rate at the end of the introductory period. That means any balance that remains after this time will be charged interest, so the length of the 0% interest offer is incredibly important when comparing cards.

    What is the catch (hidden costs) with a 0% balance transfer credit card?

    While you don’t pay interest on the debt you move to a 0% balance transfer card, there are a number of other fees you should be aware of before you apply. Some of the most common costs include:

    • A balance transfer fee. Some credit card issuers charge a one-off processing fee for balance transfers, which could be between 1% and 3% of the total debt you move to the new card.
    • An annual fee. Balance transfer credit cards may carry an annual fee. Depending on the card, this could be anywhere from $25 to $250 or more.
    • Minimum repayments. Even though the card charges 0% interest, you will still have to pay at least the minimum amount required for each statement period until you clear the credit card balance. Paying the minimum repayment might not be enough to clear your balance before the end of promotional period, so make an effort to pay as much as you can each month.
    • Interest charges for new purchases. When you make a purchase on a 0% balance transfer card, the purchase rate will be applied to it from the day the transaction is made. Your repayments will also go to the higher interest debt, which are your purchases in this case. You can avoid this charge by not making purchases on the card until you have cleared the existing debt.
    • Late payment fee. Some credit card issuers, including American Express, CommBank and Westpac, may charge a fee of between $9-$30 for late payments.

    Other fees and charges may also apply in some circumstances depending on the credit card, so make sure you check the standard terms and conditions for individual cards before you apply.

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    How to compare 0% balance transfers credit cards

    There is a wide range of credit cards that have 0% balance transfer offers, from no frills or low rate cards through to reward credit cards or premium gold, platinum and black options.

    Ideally, you should be able to find a card that will work for you well after the introductory period has ended, which makes it important to compare some key features before deciding on a 0% balance transfer deal. This checklist covers important factors you can keep in mind when looking at different cards, so that you can get a 0% balance transfer card that suits your lifestyle and needs.

    • Length of the balance transfer introductory offer. The 0% interest period on a balance transfer card generally ranges from 3-20 months. The more debt you have, the longer you want the introductory period to be so that you have more time to pay it off.
    • The revert rate/the standard balance transfer rate. At the end of the introductory period, the balance transfer interest rate will revert to a higher standard rate which is the interest rate charged on any balance remaining. Checking what the standard balance transfer interest rate is before you apply and plan your repayments around it will save you from a nasty surprise if you still have debt to pay off at the end of the introductory offer.
    • The annual fee. As any credit card can offer a 0% balance transfer deal, the annual fees can range from $20 to $400 or more. There are also some credit cards that charge no annual fee for life, and others that halve or waive the annual fee in the first year, so make sure you choose a card with an annual fee that suits your budget.
    • Rewards. Credit card rewards are earned based on how much you spend on the card, so they are not usually a priority when you want to pay of debt. But if you want to earn rewards in the future, you may want to consider this feature when you apply for a 0% balance transfer to save you adding another card to your wallet later on.
    • Complimentary extras. Credit cards often come with perks such as complimentary international travel insurance, extended warranties and purchase protection insurance. These features can add value to a card but are usually not as important as features such as the balance transfer offer and ongoing fees.
    • Interest free days. Interest free days are not applicable when you carry a balance, but if you plan on clearing the balance and can meet the conditions to be eligible for this feature, then the amount of days available could be something to consider when you apply for a 0% balance transfer offer.
    • The purchase rate. If you plan to make new purchases on the card once you’ve cleared your debt, check the purchase rate as it will be applied from the day of the transaction when you carry a balance.
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    How to apply for a 0% balance transfer offer

    These simple steps will help you find and apply for a 0% balance transfer offer that fits your budget and your needs.

    1. Check your total amount of debt owed.
      Consider how much debt you want to transfer, and how long you think it will take you to pay it off so that you know what kind of offers will help you achieve your goal.
    2. Compare 0% balance transfer offers.
      Look at all the different features and types of balance transfer offers, weighing them up based on your habits, lifestyle and current financial goals. Use the comparison table to weigh up your options side by side.
    3. Apply online.
      Hit the ‘Go to site’ button and you will be redirected to the credit card’s secure application page.
    4. Fill out the application form.
      You will need to provide personal details including your full name, date of birth, street address, drivers licence number and/or passport number. Keep these documents handy, and submit copies as requested by the credit card issuer.
    5. Include details of the balance transfer request.
      There is a section of the credit card application that asks for details of any balance transfer requests. You will need to fill this out with information including the current credit card company, the account number and the total amount of debt you want to transfer to the new card.
    6. Submit the application.
      You should get conditional approval within a few minutes and full approval in the following days (after submitting any supporting documentation).

    How long does it take to receive the credit card and when is the balance transfer process complete?

    Once the application process is complete and you have been approved, the new credit card will be issued. This generally takes between 5-10 business days, but it could be as many as 21 days before you receive the card.

    After you get the card, you will need to activate it so that your new issuer can begin the balance transfer process, and it could be as long as 21 business days from then before the debt is moved from your old card to the new one.

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    Common questions about 0% balance transfers

    Do I have to make repayments?

    You still have to pay the minimum repayment for the card by the due date on each statement. This is usually 2-2.5% of the outstanding debt on the card. As mentioned, paying only the minimum repayment is unlikely to clear your debt before the end of the promotional period. If you want to avoid paying the revert interest rate on your debt, calculate how much you’d need to pay each month to repay the entire debt by the end of the offer and stick to that budget.

    How long does the 0% offer stay in place for?

    The length of the 0% interest period varies between cards. You can check how long the 0% rate is available by looking at the introductory period in the comparison table we have provided above. For example, if a card offers 0% interest for 12 months, you will have 0% on your balance for up to 12 months from when the card is activated.

    It’s important to take advantage of the 0% offer and start repaying your debt as soon as possible. If you wait two months to repay your debt under a 6 month offer, you’ll only have 4 months left to clear your balance before the revert rate kicks in. To get the full value from the 0% pay off as much as you can as soon as possible and do your best to repay the balance in full before the promotion ends.

    Do I still receive interest-free days on purchases with a 0% balance transfer offer?

    No interest-free days are awarded when you carry an outstanding balance. If you would like to make purchases with no interest whilst repaying your existing credit card debt, compare 0% balance transfers and 0% purchase credit cards.

    Is there a balance transfer fee?

    Some credit card issuers charge a balance transfer fee of between 1% and 3% of the total debt. Check with individual cards to see if this fee applies.

    Can you use a 0% balance transfer card for other debts?

    Generally a 0% balance transfer credit card offer is available for existing credit card debt, but there are some credit cards that allow you to transfer debt from personal loans as well. Check out our guide on transferring debt from a personal loan to a credit card for more information.

    What happens to my old credit card?

    Your old credit card will remain active until you cancel it. If you want to cancel your old credit card, wait until the balance transfer process is complete and submit a request to your old bank.

    Do I have to transfer the whole balance from my current card to a 0% balance transfer card?

    No, you can choose to transfer a portion of the balance. Just select the amount you want to transfer during the application process (and make sure you have a payment plan in place). Keep in mind that this will mean that you have two separate debts and sets of maintenance fees to manage.

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    Mistakes to avoid with a 0% for 6 months on balance transfers credit card

    In some cases, 0% balance transfer cards can end up being as expensive as any other option, so keeping the following pitfalls in mind will help you get the most out of a 0% balance transfer card.

    • Only making minimum repayments. The minimum payment listed on your credit card statement is usually 2-2.5% of your total balance. If you only pay this each month, you will still have a huge amount of debt left over when the 0% interest period ends (and it could take years or even decades to pay off the rest).
    • Not paying off the full balance before the introductory period ends. A higher standard balance transfer rate will be applied to any balance left over once the 0% interest period ends, leading to extra charges and increasing the time it will take for you to pay off the debt.
    • Using your card for new purchases. Any new purchases on a balance transfer card will be charged interest from the day they are made. Usually the purchase rate is much higher and any repayments made will go towards paying this debt off before the balance that you transferred. Instead, consider a 0% purchase credit card for emergencies.
    • Not checking credit limit requirements. Depending on the credit card issuer, your balance transfer can only make up between 70% and 95% of your credit limit on the new card. Make sure you consider this before applying for your card, and try to choose one that has the most reasonable requirements and credit limit options for your circumstances. Learn more about this here.
    • Not making payments during the balance transfer process. You will still need to make any payments that are due on the old card before the balance is transferred to a new card, otherwise you could be charged late payment or dishonour fees.

    Before applying for a balance transfer, make sure to read the eligibility requirements and consider some of these mistakes to improve your chances of approval.

    With the credit card debt clock ticking away for many Australians and costing us hundreds of dollars every year, balance transfer cards are growing in popularity.

    The wide range of 0% balance transfer offers available gives you a chance to compare credit cards and find an option that works for you so that you can save money on interest and pay off your debt faster.

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    Other Frequent Asked Questions

    What is the standard rate of interest?

    Although you will be getting a very low rate of interest, you must remember it is only for a short period of time. After that, the balance will either be charged at the standard rate of interest or the cash rate. You need to compare these rates to make sure you find a lender with a rate that you are happy with.

    What is the annual fee?

    Many credit cards charge some sort of annual fee for using the service. Depending on your lender, and the type of card, the annual fees can range from $0 right up to $200 and above. If you are looking at gold or platinum cards with reward schemes, the chances are you will pay a much higher fee. Have a look at the fees and benefits, and decide whether they are really worth the cost. If you do not need them and will not use them, then you are far better off finding a card with a cheaper annual fee.

          
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    77 Responses to 0% Balance Transfer Credit Card Offers

    1. Default Gravatar
      Sonya | May 12, 2016

      Are the balance tranfer credit cards help with paying any bills you may have?

      • Staff
        May | May 12, 2016

        Hi Sonya,

        Thanks for your question.

        If you’re not going to use the card for a balance transfer, using it for paying bills is okay. However, if you will conduct a balance transfer on the card, a great portion of your credit limit will be used up. Please keep in mind that a large percentage of the credit card limit (sometimes 70%-95%) can be used when you do a BT. As such, it may not be practical to use your card for debiting your bills as there would be a possibility you will end up charging your card more than its credit limit.

        Hope this helps.

        Cheers,
        May

    2. Default Gravatar
      Denis | April 27, 2016

      i have a bank of melbourne credit card and a nab credit card, i want to transfer the nab card to a balance transfer 0% at st. george
      is st george the same bank

      • Staff
        Sharon | May 1, 2016

        Hi Denis,

        Thanks for your inquiry.

        Transferring a balance from a NAB card to a new St.George credit card is allowed. Please note of the eligibility requirements before sending your application as each submitted application will appear on your credit history.

        I hope this helps.

        Sharon

    3. Default Gravatar
      Jude | April 5, 2016

      My daughter has a maxed out credit card and will probably not be eligible for another credit card. Can I get a card in my name and have her balance transferred into it. I know I would then be liable for the debt, but I accept that.

      • Staff
        Sharon | April 8, 2016

        Hi Jude, thanks for your comment.

        Some banks allow balance transfers between two separate names. You may refer to the following page to see the different options and compare balance transfer credit cards that you can apply for.

        I hope this helps.

        Sharon

    4. Default Gravatar
      yvonne | March 8, 2016

      I have a ANZ and Coles mastercard which are nearly maxed out could you please tell me if I can get a which is the best card to go with and also can I transfer both into the 1 card. your faithfully Yvonne

      • Staff
        Sharon | March 9, 2016

        Hi, thanks for your inquiry.

        Please note that finder.com.au is an online comparison service and is not in the position to recommend specific products, providers and services to you, as the best option will always depend on your individual financial needs and situation.

        You may want to check this page to find the *best balance transfer credit card. Take time to compare credit cards and use the balance transfer calculator to find the one that suits you. Please take note of the eligibility requirements at the bottom of each credit card’s review page as each submitted application will appear on your credit history.

        I hope this has helped.

        Thanks,

        Sharon

    5. Default Gravatar
      Jody | July 23, 2015

      Can the transfer amount from a personal loan be used to take advantage of the 0% balance transfer offers? As in, can I pay off a car loan where I am currently paying around 8% interest with a 0% BT offer on a new credit card with one of the offering companies?
      Thank you.

      • Staff
        Jonathan | July 24, 2015

        Hi Jody, thanks for your inquiry!

        For balance transferring a personal loan to credit card please see this page.

        Cheers,

        Jonathan

    6. Default Gravatar
      Rob | July 15, 2015

      Two questions:

      If I transfer say $5000 to a 0% card does this mean that I pay nothing until the end of the interest free period, or must I still pay a proportion of the transferred balance each month?

      Do I have to transfer the whole balance to the new card, or can I retain my existing card as well with a small or zero balance outstanding?

      Thanks

      • Staff
        Jonathan | July 16, 2015

        Hi Rob,

        During a 0% balance transfer promotion you still have to pay the minimum repayment for the card which is usually 2-2.5% of the full outstanding debt on the card. With a $5000 balance transfer amount this would require a minimum repayment of $100 per statement. How much you can transfer to the new credit card depends on the specific bank and your approved credit limit for the percentage of how much you can transfer your balance, with more information available on
        Once you have fully paid your balances, you can continue on using the card.

        I hope this answers your question.
        You may want to check a comparison of credit cards with long term balance transfer offer on this page.

        Cheers,

        Jonathan

    7. Default Gravatar
      Anne | June 14, 2015

      I have 2 balance transfer cards totalling the amount of $7000.00 and want to transfer the total to 1 card, 0 % for 24 months.

      Thanks

      • Staff
        Jonathan | June 15, 2015

        Hi Anne, thanks for your inquiry!

        Please refer to the following link for a list of balance transfer credit cards (including 0% for 24 month offers).

        Cheers,

        Jonathan

    8. Default Gravatar
      Crni | April 11, 2015

      Hi! Looking for a $20,000 limit on my card. I don’t need any card with point or gadgets only a straight forward card , once 24 months has expired I will payed off from my home loan.
      Thanks

      • Staff
        Jonathan | April 14, 2015

        Hi Crni, thanks for your inquiry!

        You may like to see this page which compares high credit limit credit cards. We have also listed the other features and benefits available for each card in reviews.

        Cheers,

        Jonathan

    9. Default Gravatar
      Crni | April 11, 2015

      Hi,

      I have a NAB Platinum card with a limit of $20,000 dollars. We are interested in 24 months interest free, in your opinion which card will be best to transfer and have this deal?

      Could you please get back to me about this when you can.
      Thanks

      • Staff
        Jonathan | April 14, 2015

        Hi Crni, thanks for your inquiry!

        Please see the table provided on our balance transfers page which will allow you to compare credit cards by their balance transfer periods and promotions, available on this page. By selecting ‘Balance transfer rate p.a.’ you can compare cards in descending or ascending order of balance transfer rate and promotional period.

        Cheers,

        Jonathan

    10. Default Gravatar
      anthony | April 10, 2015

      can I view my current transactions for the last 30 days

      • Staff
        Jonathan | April 10, 2015

        Hi Anthony, thanks for your inquiry!

        Generally credit card accounts allow viewing of the transactions for the past 30 days by logging into the bank’s website. If you could please clarify which bank your credit card is with I will be more than happy to assist you further.

        Cheers,

        Jonathan

    Credit Cards Comparison

    Rates last updated June 29th, 2016
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    American Express Essential Credit Card
    Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
    14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
    HSBC Platinum Credit Card
    Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
    19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
    NAB Low Rate Credit Card
    The NAB Low Interest Visa Card offers 0% p.a. purchase and balance transfer offers for 15 months. Also comes with a low annual fee.
    0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Go to site More info
    HSBC Platinum Qantas Credit Card
    Receive 40,000 bonus Qantas Points on eligible spend within 3 months. A balance transfer offer of 0% p.a. for 6 months with access to premium benefits and complimentary insurance.
    19.99% p.a. 0% p.a. for 6 months $199 p.a. Go to site More info

    * The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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