Long Term Balance Transfer Credit Card Offers

Who else wants to pay 0% on balance transfers? Find one of the longest balance transfers available today.

One way to tackle your credit card debt is to apply for a balance transfer credit card and transfer your balance at a low interest rate for a set period of time.The longer the term of a balance transfer, the more time you’ll have to be able to pay off your debts before the balance transfer period expires and reverts to a higher interest rate.

St.George Vertigo Visa Credit Card - Long Term BT Offer - February

Long Term Balance Transfer Credit Card Offer

For a limited time, the St.George Vertigo card offers 0% p.a. for 18 months on balance transfers, when requested at card application as well as 0% p.a. for 3 months on purchases, from card approval.

  • 0% p.a. for 18 months on balance transfers requested at card application. Rate then switches to the variable cash advance rate.
  • 0% p.a. for 3 months on purchases, from card approval.
  • $55 annual fee
  • Enjoy up to 55 days interest free on purchases when the closing balance (including any balance transfer amount) is paid by the statement due date.
  • Offer ends 30 April 2015.

    Listed below are longer term month balance transfer options. However, you may also be interested in transfer offers in market with 0% balance transfer rates.

    Long Term Balance Transfer Credit Cards Comparison

    Rates last updated February 28th, 2015

    Interest rate (p.a.) Balance transfer rate (p.a.) Annual
    fee
    Interest
    saved
    St.George Vertigo Visa
    St.George Vertigo Visa
    A great value credit card for consumers with an interest rate offer on balance transfers and a low ongoing purchase rate. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
    Virgin No Annual Fee Credit Card
    Virgin No Annual Fee Credit Card
    No annual fee for the life of the card and a great balance transfer offer. 18.99% p.a. 0% p.a. for 14 months $0 p.a. Go to site More info
    Citibank Rewards Credit Card - Platinum Card
    Citibank Rewards Credit Card - Platinum Card
    Take advantage of a great introductory long term balance transfer offer. 20.99% p.a. 0% p.a. for 24 months $199 p.a. Go to site More info
    Westpac Low Rate Card
    Westpac Low Rate Card
    One of the longest balance transfer cards on the market. Also benefit from a low ongoing purchase rate and annual fee. 0% p.a. for 3 months (reverts to 13.49% p.a.) 0% p.a. for 16 months $59 p.a. Go to site More info
    St.George Vertigo Platinum
    St.George Vertigo Platinum
    A platinum card with a low interest rate on balance transfers and purchases with a low annual fee. 0% p.a. for 3 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
    Bankwest More Classic MasterCard
    Bankwest More Classic MasterCard
    A long term balance transfer offer and 28,000 bonus points offer. 19.99% p.a. 0% p.a. for 18 months $70 p.a. Go to site More info
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    0% p.a. for 16 months on balance transfers, plus earn 10,000 bonus Velocity Points in your first 3 months. 20.74% p.a. 0% p.a. for 16 months $129 p.a. Go to site More info
    ANZ Low Rate
    ANZ Low Rate
    Offering a low interest on balance transfers and purchases. 13.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $58 p.a. Go to site More info
    Citi Simplicity Card
    Citi Simplicity Card
    0% for 12 months on balances transfers with no annual fee to pay. 19.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
    ANZ First Visa Credit Card
    ANZ First Visa Credit Card
    This simple a low annual fee credit card is ideal for students 19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $30 p.a. Go to site More info
    Bank of Melbourne Vertigo Visa Credit Card
    Bank of Melbourne Vertigo Visa Credit Card
    A low rate card from Bank of Melbourne with a short term introductory rate on purchases. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
    ANZ Platinum Credit Card
    ANZ Platinum Credit Card
    ANZ offers a platinum credit card which includes medical and travel insurance. 19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
    Westpac Low Rate Card - Exclusive Offer
    Westpac Low Rate Card - Exclusive Offer
    Apply online via creditcardfinder.com.au to receive this exclusive Low Rate offer from Westpac. 13.49% p.a. 0% p.a. for 20 months with 2.5% balance transfer fee $59 p.a. Go to site More info
    St.George Amplify Platinum - Online Offer Only
    St.George Amplify Platinum - Online Offer Only
    Uncapped points earning and double points on international spending with a long term balance transfer offer. 0% p.a. for 3 months (reverts to 19.49% p.a.) 0% p.a. for 16 months $99 p.a. Go to site More info
    ANZ Low Rate Platinum Credit Card
    ANZ Low Rate Platinum Credit Card
    A platinum card with a low interest rate with a long balance transfer and low ongoing purchase rate. 13.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $99 p.a. Go to site More info
    Citibank Rewards Credit Card - Classic Card
    Citibank Rewards Credit Card - Classic Card
    Low annual fee and a long balance transfer offer. Earn Citibank Rewards. 20.99% p.a. 0% p.a. for 18 months $89 p.a. Go to site More info
    Citibank ReadyCredit
    Citibank ReadyCredit
    A long term, low rate balance transfer offer with $0 annual fee. 19.49% p.a. 4.9% p.a. for 36 months $0 p.a. Go to site More info
    St.George Amplify Signature - Online Offer Only
    St.George Amplify Signature - Online Offer Only
    Apply online for this credit card to receive a long term balance transfer offer and 1.500 rewards points for every $1 spent. 0% p.a. for 3 months (reverts to 19.49% p.a.) 0% p.a. for 16 months $279 p.a. Go to site More info
    NAB Premium Card
    NAB Premium Card
    Enjoy a low interest rate on balance transfers. Benefit from platinum credit card advantages. 19.74% p.a. 0% p.a. for 15 months $90 p.a. Go to site More info

    What is a long term balance transfer?

    A balance transfer offer on a credit card allows you to transfer your current credit card balance to a new card and repay it at a lower interest rate for a set period of time. However, one catch is the cost of the new credit card’s annual fee.

    A longer term balance transfer is a type of credit card offer that allows customers to transfer their existing credit card balance to a new credit card for a long period of time – typically 9, 12 or more months. The balance transferred over is charged at a lower fixed promotional interest rate for the balance transfer period.

    How does a longer term balance transfer work?

    Customers can apply for a long term balance transfer credit card and elect to do a balance transfer in the online application (or sometimes apply for one after approval).

    Their new credit card provider submits a request payout for your existing debt with your existing credit card provider and transfers that amount to the new balance transfer credit card.
    Balance transfer customers can then benefit from a lower interest rate for however long the period lasts.

    Credit card providers essentially provide this offer as an incentive to attract new customers. However, it’s important to pay off your debt during this period because after the balance transfer period, the interest rate reverts to the much higher standard interest rate or cash advance rate.

    What are the types of long balance transfer period credit cards are available?

    • No frills balance transfers. You can choose to balance transfer your debt onto a standard credit card that doesn’t have any features you won’t use. If you’re seriously dedicated to paying off your debt, then these type of credit cards won’t motivate you to spend anymore because of the lack of rewards and features. The interest rate is typically either;
      • 0% p.a. interest on balance transfers for 9, 12 months or more
      • A low balance transfer interest rate (e.g: 0.99%, 1.9%, 3.9%) for a longer period of time e.g: 12, 15, 18 or 24 months
    • Platinum balance transfers. If you have a high credit limit you may want to balance transfer your debt onto a Platinum credit card. These types of credit cards often have complimentary travel insurance as well as a range of features to motivate you to spend more. They are often linked to a rewards system as well so these aren’t a great idea if you’re dedicated to paying off your debt.
    • Rewards and frequent flyer balance transfers. These type of credit cards allow you to earn points on your eligible purchases. While you don’t earn points for transferring your balance, you still get more value out of your purchases made on the card. Be mindful that if you have a balance on a rewards credit card, the interest charges will often negate the benefits that the rewards points provide

    How to compare credit cards that offer a long balance transfer deal

    • Promotional interest period. If you’re looking for a balance transfer period that is considered a longer term, then you’ll need to look for one that is nine months or longer.
    • The balance transfer interest rate This is the interest rate that is charged on balance that you’ve transferred. Some of the better offers have a 0% rate, but you’ll find that longer period may go up to 6% for up to two years. This is when you can use your best judgement to determine how long you’ll need to repay your credit card debt to get the best interest rate.
    • Balance transfer amount and limit. A rule for long term balance transfers is that you can’t balance transfer more than your approved maximum credit limit. A common industry limit is 95% of your approved credit limit. So for an approved credit limit of $10,000, the maximum amount that can be transferred to the new card is $9,500. A few balance transfer credit cards have minimum and maximum amount of balance that can be transferred limits, such as a minimum of $500 and a maximum of $20,000.
    • Fees. In the past, some card providers charged balance transfer fees, but these aren’t charged on any of the major balance transfer credit cards on the market at the time of writing. The only fee for a balance transfer is if there’s an annual fee on the credit card.
    • The revert rate. Have a look at whether the balance transfer rate reverts to the purchase rate or cash advance rate. The purchase rate is generally lower than the cash advance so if you do forget you won’t be charged as much interest.

    Key considerations for a balance transfer

    Pros and cons of a long term balance transfer

    Pros

    • More time to pay off your debts. One year is a much more generous amount of time for customers to get on top of their finances and make the smart move to pay down bad debt.
    • Pay less interest. Using a long term balance transfer can be great for customers with a sizable credit card debt who want a full year on the one card to save money in interest and pay down their debt.

    Cons

    • Revert rate. The revert rate of your balance transfer is either the purchase rate or cash advance rate so it’s important to have your balance paid off before the balance transfer period end or that any leftover balances are transferred again if you are in a position to apply for another balance transfer credit card.

    What rate does your BT revert to?

    Things to avoid when transferring your balance for a longer term

    • Making extra purchases. If you still have a balance outstanding on your credit card and make a purchase interest is charged on the day of the purchase. This defeats the purpose of trying to pack back your original debt.
    • Leaving unpaid balances after the set period. Interest on a balance transfer will revert to either the purchase rate, or more commonly, the cash advance rate of interest after the promotional period. This can vary from card to card, but commonly, the interest will revert to in excess of 20%p.a.
    • Transferring to the same bank. Most credit card providers don’t allow you to balance transfer to the same bank or its affiliates unless specifically stated in their terms and conditions.

    Frequently asked questions about long term balance transfers

    • Am I eligible for a long term balance transfer credit card? Generally if you have a good credit rating, are over 18 years of age and you’re a permanent Australian resident or citizen you have a higher chance of being accepted.
    • Why can’t I balance transfer my existing debt to a long term balance transfer card from the same provider? Most credit card providers only allow new customers to balance transfer or balances transferred from another provider.
    • Where can I find shorter term 0% p.a. balance transfer credit cards? eg. 0% p.a. for 6 months Please see our comparison of 0% balance transfer credit cards.
    • Where can I find a comparison of balance transfer credit cards? Please see our comparison of balance transfer credit cards.

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    79 Responses to Long Term Balance Transfer Credit Card Offers

    1. Default Gravatar
      James | February 5, 2015

      Hi, I have a Bankwest card, to which i have transferred a balance at 0% for 12 months. If i make a purchase on this card, how does the interest get charged, given that any repayments should apply to the higher amount first (i.e. any subsequent purchases at 19%, while the balance remains unpaid accruing 0%)?

      • Staff
        Jonathan | February 6, 2015

        Hi James, thanks for your inquiry!

        The credit interest on a credit card is calculated by summing the outstanding daily balance on purchases made, cash advances and special balances, plus any previously unpaid interest and multiplying this amount by the daily interest rate of the credit card (Annual Rate divided by 365).

        I hope this has helped.

        Cheers,

        Jonathan

    2. Default Gravatar
      Allan | February 2, 2015

      Hi

      I’m after a 0% balance transfer for approx $18000 for a period of 16 to 18 months or longer if possible. I don’t really care if there is annual fee as the rate at the end is usually lower. I don’t want to compare Citibank or ANZ as they are the cards the monies are currently on. thanks

      • Staff
        Jonathan | February 2, 2015

        Hi Allan,

        Thanks for your inquiry.

        Please note that lenders have individual lending policies. Each lender will need to assess your financial and personal situation to be able to advise on your options and eligibility. You can compare other Long Term Balance transfer credit cards by using the tables ‘Compare’ function, selecting the desired cards side by side.

        I hope this helps!

        Cheers,

        Jonathan

    3. Default Gravatar
      Roslyn | January 15, 2015

      Do you have to be a new customer to be eligible for a no interest transfer

      • Staff
        Jonathan | January 15, 2015

        Hi Roslyn,

        Thanks for your question!

        Generally one of the terms and conditions for being eligible for a 0% Balance transfer rate offer is that you need to be a new customer with the desired credit provider. The terms and conditions for the credit provider will state whether existing members/ cardholders are eligible for the promotional balance transfer rate. Alternatively by contacting the credit provider via customer service line, online web form or email those details can be determined.

        Was there a specific credit provider you were inquiring about today, so I can assist you further?

        Cheers,

        Jonathan

    4. Default Gravatar
      mano | January 12, 2015

      I have a credit card debt of 14000 with commonwealth bank. which card provides the best for paying back.

      • Staff
        Jonathan | January 12, 2015

        Hi Mano,

        Thanks for your inquiry,

        Just letting you know that we are a financial comparison service, so I am unable to provide any personal advice. However what I can generally advise is with our long-term balance transfer credit cards, a longer balance transfer period at the 0% promotional rate, in addition to a lower revert interest rate will be most ideal for paying off a credit card debt.

        I hope this helps.

        Cheers,

        Jonathan

    5. Default Gravatar
      Tony | December 29, 2014

      When applying for a card that allows a balance transfer, can I elect to have the balance from my partners Credit Card transferred to the new card?

      • Staff
        Elizabeth | December 29, 2014

        Hi Tony,

        Thanks for your question.

        This depends on the provider you’re applying with, but generally you just need to provide the account information and name the account is held under, which doesn’t have to be your own.

        I hope this has helped.

        Thanks,

        Elizabeth

    6. Default Gravatar
      Dennis | October 30, 2014

      I have 2 credit cards with a combined total of $14,651. Is there a credit card that I can pay that amount off in 48 months at $300 a month with 0% interest.

      • Staff
        Elizabeth | October 30, 2014

        Hi Dennis,

        Thanks for your question.

        As you can see from the table above, there’s a few cards that offer long-term balance transfers, but none for as long as 48 months. The longest balance transfer period currently available on the Australian market is 16 months, but with your mention of $300 repayments a month that wouldn’t allow you to repay your debt back in time.

        Another option you have is a debt consolidation personal loan. While these loans don’t offer 0% interest, you can pay off your debt at a lower rate for a longer period of time. You can compare a range of these loans on this page.

        I hope this has helped.

        Thanks,

        Elizabeth

    7. Default Gravatar
      John | October 22, 2014

      Hi,

      Are there Credit Cards that allow you to earn frequent flyer points on balance transfers?

      • Staff
        Elizabeth | October 23, 2014

        Hi John,

        Thanks for your question.

        Unfortunately I’m unaware of any cards that allow you to do this. This is not usually an option as a balance transfer is seen as a debt by card providers so you’re unable to earn points on this.

        I hope this has helped.

        Thanks,

        Elizabeth

    8. Default Gravatar
      shirley | September 16, 2014

      what is the maximum transfer limit?

      • Staff
        Shirley | September 16, 2014

        Hi Shirley,

        Thanks for your question.

        Please see this page for maximum transfer limits.

        Cheers,
        Shirley

    9. Default Gravatar
      Sandy | August 18, 2014

      I have a $4000 credit card debt and I would like to do a balance transfer to be able to pay off as I don’t want to have this debt anymore. the rate is 13,49 %, not sure where to go and what to take?
      thanks

      • Staff
        Shirley | August 19, 2014

        Hi Sandy,

        Thanks for your question.

        You’ll find that most balance transfers offer a rate of 0% for a set period. Please see this page for a list of your options.

        If you have any other questions, please let us know.

        Cheers,
        Shirley

    10. Default Gravatar
      shelley | July 28, 2014

      I have an ANZ First Visa credit card however I am wondering if I can do a balance transfer to the ANZ Low Rate credit card?

      • Staff
        Shirley | July 28, 2014

        Hi Shelley,

        Thanks for your question.

        Unfortunately the balance transfer offer is for new ANZ customers only.

        You may want to consider alternative options on this page.

        Cheers,
        Shirley

    Credit Cards Comparison

    Rates last updated February 28th, 2015
    Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
    St.George Vertigo Visa
    St.George Vertigo Visa
    A low annual fee and low interest rate offer on balance transfers. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info
    Virgin No Annual Fee Credit Card
    Virgin No Annual Fee Credit Card
    Take advantage of the 0% p.a. for 14 months balance transfer offer 18.99% p.a. 0% p.a. for 14 months $0 p.a. 20.99% p.a. Go to site More info
    Westpac Low Rate Card
    Westpac Low Rate Card
    A low interest rate credit card with a low annual fee and balance transfer offer. 0% p.a. for 3 months (reverts to 13.49% p.a.) 0% p.a. for 16 months $59 p.a. 21.49% p.a. Go to site More info
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card
    Earn rewards points plus a balance transfer offer. Access to prestige services including a personal concierge service and VISA Platinum reward program. 19.99% p.a. 0% p.a. for 8 months $0 p.a. 21.99% p.a. Go to site More info
    American Express Qantas Discovery Card
    American Express Qantas Discovery Card
    Receive 7500 Qantas Points and pay no annual fee ever. Plus earn 1 Qantas Point per $1 spent on all your everyday purchases. 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 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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