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.

Listed below are longer term month balance transfer options.

Long Term Balance Transfer Credit Cards Comparison

Rates last updated May 27th, 2015

$
% p.a.
Interest rate (p.a.) Balance transfer rate (p.a.) Annual
fee
Interest
saved
St.George Vertigo Platinum
St.George Vertigo Platinum
Long term balance transfer together with a low ongoing rate on purchases. 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
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
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
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
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
Bank of Melbourne Vertigo Platinum
Bank of Melbourne Vertigo Platinum
Low ongoing rate on purchases with an introductory offer on balance transfers. 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
Westpac Low Rate Card - Exclusive Offer
Westpac Low Rate Card - Exclusive Offer
Exclusive Offer to finder.com.au
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
Bank of Melbourne Amplify Signature
Bank of Melbourne Amplify Signature
Long interest rate offer on balance transfers plus a low rate offer on purchases. 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
Citi Simplicity Card
Citi Simplicity Card
0% p.a. 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
NAB Qantas Rewards Card
NAB Qantas Rewards Card
Earn a low interest rate on balance transfers. 20,000 bonus Qantas Points. Apply by 11 October 2015. 19.99% p.a. 0% p.a. for 15 months $95 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
ANZ First Visa Credit Card
ANZ First Visa Credit Card
This simple a low annual fee credit card it offers interest free days on purchases and low minimum credit limit. 19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $30 p.a. Go to site More info
St.George Amplify Signature
St.George Amplify Signature
Apply online for this credit card to receive a long term balance transfer offer and 1.50 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
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
Bankwest More Platinum Mastercard
Bankwest More Platinum Mastercard
2.99% p.a. for 9 months on balances transfers and complimentary insurances. 19.99% p.a. 2.99% p.a. for 9 months $130 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
BoQ Platinum Visa Card
BoQ Platinum Visa Card
A low rate balance transfer offer with a low annual fee. 20.74% p.a. 0% p.a. for 14 months $49 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
Westpac Altitude Platinum Card
Westpac Altitude Platinum Card
Redeem Altitude points for flights on any of the world's major airlines. Also includes free insurance and travel benefits. 0% p.a. for 3 months (reverts to 20.24% p.a.) 0% p.a. for 16 months $150 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
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
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
Westpac Altitude Black
Westpac Altitude Black
Access a dedicated concierge & iPhone app, your own personal shopper and a range of complimentary travel and purchase insurances. Offers two reward programs which you can choose between Altitude or Qantas Rewards. 0% p.a. for 3 months (reverts to 20.24% p.a.) 0% p.a. for 16 months $395 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 May 27th, 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
NAB Low Rate Credit Card
NAB Low Rate Credit Card
Low ongoing interest rate on purchases and balance transfers. 0% p.a. for 12 months (reverts to 13.99% p.a.) 4.99% p.a. for 6 months $59 p.a. 21.74% 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. 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
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

* 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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