Best Balance Transfer Rates* – 0% Interest Credit Cards

Information verified correct on February 9th, 2016

Got existing credit card debt? Repay your debt with 0% interest for up to 24 months with balance transfer credit cards

Our credit card experts have reviewed a number of balance transfer deals for you to compare and choose from.

St.George Vertigo Platinum

Long Term 0% Balance Transfer Offer

Enjoy a low rate balance transfer offer. The card also features a low ongoing purchase rate and a low annual fee. It's possible to do a joint application with a St.George credit card, allowing you to transfer both your credit card debt and your partners.

  • $99 p.a. annual fee
  • 0% p.a. for 3 months (reverts to 12.74% p.a.) on purchases
  • 0% p.a. for 20 months on balance transfers
  • Cash Advance Rate of 21.49% p.a.
  • Up to 55 days interest free

0% Balance Transfer Credit Cards Comparison

Rates last updated February 9th, 2016
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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
St.George Vertigo Platinum
Manage your credit card debt with 0% for 20 months on balance transfers and make any purchases interest free 0% for 3 months.
0% p.a. for 20 months 0% p.a. for 3 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit when you apply online by and repay your credit card balances over 12 months with 0% p.a. interest. Plus enjoy $0 annual fee for life.
0% p.a. for 12 months 14.99% p.a. $0 p.a. Go to site More info
BoQ Platinum Visa Card - Exclusive Offer
Exclusive Offer to finder.com.au

Enjoy a 0% interest rate for 16 months on balance transfers.

0% p.a. for 16 months 20.74% p.a. $0 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
St.George Vertigo Visa
Benefit from a low interest rate on your everyday purchases combined with a long term 0% p.a. balance transfer offer for 18 months.
0% p.a. for 18 months 0% p.a. for 3 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive $0 annual fee every year if you meet the 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. $0 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Interest Visa Card offers a balance transfer offer of 0% for 24 months. Apply by 30 April 2016.
0% p.a. for 24 months with 2.5% balance transfer fee 13.99% p.a. $59 p.a. Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Take advantage of this exclusive offer and enjoy 0% p.a. for the first 9 months on balance transfers and purchases when you apply by 29 February 2016
0% p.a. for 9 months 0% p.a. for 9 months (reverts to 19.74% p.a.) $30 p.a. Go to site More info
Woolworths Money Everyday Platinum Credit Card
Receive a $100 Gift Card with a $0 annual fee for the first year if you apply before 31 March 2016. Also get 0% p.a. for 14 months on balance transfers and earn up to 3 rewards points per $1 spent.
0% p.a. for 14 months 19.99% p.a. $0 p.a. annual fee for the first year ($49 p.a. thereafter) Go to site More info
NAB Premium Card
Enjoy purchasing with 0% for 15 months during your long term balance transfer offer with Platinum credit card advantages.
0% p.a. for 15 months 0% p.a. for 15 months (reverts to 19.74% p.a.) $90 p.a. Go to site More info
American Express Velocity Escape Card -  Exclusive Offer
Enjoy 15,000 bonus Velocity Points and earn 2 points for every $1 you spend, together with a $0 annual fee. Also receive 0% for 12 months on balance transfers.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $0 p.a. Go to site More info
NAB Low Fee Card
Get 0% p.a. on balance transfers and purchases for 9 months if you apply by 30 April 2016.
0% p.a. for 9 months 0% p.a. for 9 months (reverts to 19.74% p.a.) $30 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with promotional rates on purchases and 0% p.a. for 20 months on balance transfers, complimentary insurances and 24/7 concierge.
0% p.a. for 20 months 0% p.a. for 3 months (reverts to 12.74% p.a.) $99 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.
0% p.a. for 6 months 19.99% p.a. $199 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Offers 0% p.a. interest rate on balance transfers for 14 months to help you manage your existing credit card balance. Earn 10,000 bonus Velocity Points in the first 3 months.
0% p.a. for 14 months 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Credit Card
No annual fee for life of the credit card with a balance transfer offer. Also comes with a low interest rate and up to 55 days interest-free on purchases.
0% p.a. for 6 months 17.99% p.a. $0 p.a. Go to site More info
Westpac 55 Day Platinum Credit Card
Get a balance transfer offer of 0% p.a. for 16 months, platinum card benefits including complimentary insurances and 24/7 concierge with $0 p.a. annual fee for the first year.
0% p.a. for 16 months 19.84% p.a. $0 p.a. annual fee for the first year ($90 p.a. thereafter) Go to site More info
Virgin No Annual Fee Credit Card
Enjoy a long term balance transfer plus a $100 cashback offer (spend criteria applies) and never pay an annual fee for this card.
0% p.a. for 18 months with 2% balance transfer fee 18.99% p.a. $0 p.a. Go to site More info

What is a 0% balance transfer?

A balance transfer is a process that allows you to transfer your existing credit card balance and repay it at a much lower rate. Similarly, a 0% balance transfer lets you transfer your balance and pay 0% interest on it for a set term to save money. If you still have a leftover balance after the offer expires, the remaining balance will revert to either the cash advance or purchase rate. It’s important to know which rate it is because in general, cash advance rates tend to be a lot higher than purchase rates.

How does a 0% balance transfer credit card work?

It is possible for you to save hundreds of dollars a year by transferring balances to a 0% balance transfer credit card. All you have to do is apply for a new credit card with a special introductory interest rate of 0% interest for balance transfers. After gaining approval, you transfer the balance to the new credit card. Often balance transfers can be requested in the online application, but sometimes this process is initiated after the credit card has been approved and activated.

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Case study: Julie’s school supplies

TitleJulie is a stay-at-home mum with two kids in primary school. The kids have grown out of last year’s shoes and clothes, so Julie needs to buy the kids new uniforms before school goes back. She puts this spend on her credit card which takes the balance up to $3500. Paying 20.99% p.a. on this card. She is currently paying a high amount of interest with the old card and decides to carry out a balance transfer. She chooses a card that offers 2.9% p.a. for 12 months on her balance. By transferring her balance she will save over $500 over the course of the first year, allowing her to put this money away for next year’s school clothes!

What do I have to know to compare balance transfer credit cards?

You can get the ideal balance transfer rates by comparing our balance transfer credit cards and choosing the one that most suits your financial situation. As many credit cards offer 0% p.a. for a balance transfer, a good indication is the length of the balance transfer period and whether it’s enough time for you to pay off the amount you transferred. As you’re deciding on which is the perfect balance transfer credit card, look to the longest length of balance transfer for the lowest interest rate that suits your needs.

finder.com.au’s balance transfer tip

  • A balance transfer will require applying for a new credit card, which means you may need to pay an annual fee on the card itself. If you put this into perspective, you’re paying around $40 – $100 for this, but the potential savings from a balance transfer could exceed this. Some cards even have no annual fee and a 0% balance transfer.

Things to avoid with balance transfer credit cards

A 0% balance transfer credit card is a financial tool that can greatly benefit consumers. However, as with all financial tools, it is important to use it wisely.

  • Don’t balance transfer too often. Usually these are a solution to come out of a credit card you’re not happy with. Each application you make keeps on adding in your credit files for several years.
  • Pay at least the minimum repayment each statement. Consumers should be aware that failure to pay at least the minimum payment on time could result in an immediate end to the introductory period. Many credit cards, however, provide an automatic debit system or an online bill pay option. This can help consumers set up automatic payments that ensure that there are no late payments.
  • You forget the end date of the balance transfer offer. Usually the balance transfer date starts after the success of the application, then your credit card arrives a week after in the mail. It’s important to mark these dates in your calendar.
  • Adding more purchases and debt to your credit card. This could potentially eliminate the benefits of completing a balance a transfer, because the ultimate goal is the pay off your credit card debt.

Shopping around for the best bargain is a way of life for many. Applying that rule to credit card applications can mean that you get to keep more of your hard earned cash. So it is wiser to compare and contrast the interest rates on various credit cards to get the best mileage of your hard-earned money.

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How to use the Balance Transfer Calculator in 3 easy steps and learn how much you can save today

Step 1. Enter the total debt/outstanding amount you would like to transfer
Step 2. Provide the interest rate that you are paying on your existing debt (if you don’t have your interest rate on you, the average is around 18-20%)
Step 3. See the ‘Interest Saved’ column to find out which credit cards will save you the most money. Click on the ‘Interest Saved’ title to sort the cards in ascending or descending order of money saved
Step 4. Compare the credit cards available in the table provided to find the card that suits your needs. If you still want to find out more about a particular credit card, click the ‘More info’ link for a full review on the features and benefits.

BT calculator steps

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Frequently asked questions about 0% balance transfers

Exactly how much do I save by completing a balance transfer?

Use our balance transfer calculator to help you find out.

When should I utilise a balance transfer?

A balance transfer is just one of the three major ways to reduce the interest you pay on your credit card debt. It’s suitable for relatively small debts – ideally ones that can be repaid within the balance transfer offer period. Balance transfers are superior in their access to interest-free periods, often up to 6-9 months. This gives people with debt a huge opportunity to direct all their repayments towards cutting down bad debt.

Are there any other options for debt?

Are balance transfers suited to everyone?

A balance transfer isn’t suited to everyone, but if you have a substantial debt accumulated on your credit card then you might be able to save money with a balance transfer. By taking your existing debt at a higher interest rate and switching it to a 0% p.a. or 2.9% p.a. you could save hundreds of dollars in interest

Do I have to pay a balance transfer fee?

Balance transfer fees are generally no longer charged, but check with your institution to ensure this is correct for you. If you are charged a balance transfer fee, it’s usually a percentage of the transfer amount.

What’s the maximum I can balance transfer?

This is usually set at 90% of the credit limit you’re approved for, but this number could be lower depending on the institution.

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255 Responses to Best Balance Transfer Rates* – 0% Interest Credit Cards

  1. Default Gravatar
    Jennifer | January 18, 2016

    I am on an age pension with a credit card debt of $3000 can I change too a lower interest rate?

    • Staff
      Arra | January 20, 2016

      Hi Jennifer,

      Thanks for your inquiry.

      You should be eligible to transfer to a balance transfer card with a lower interest rate provided that you meet the eligibility criteria such as the required income per annum and can provide the documents needed for application. Please take note, however, that any remaining balances will either revert to the purchase or cash advance rate and it’s vital to know which rate it is because in general, cash advance rates tend to be a lot higher than purchase rates.

      I hope this has helped.

      Cheers,
      Arra

  2. Default Gravatar
    scottb | December 10, 2015

    how do i apply

    • Staff
      Jonathan | December 11, 2015

      Hi scottb, thanks for your inquiry!

      You can apply for a balance transfer credit card by pressing the ‘apply’ button. From there you will be redirected to a secure bank web-form application. After your application has been approved it will take approximately 5-7 working days for your new credit card to arrive.

      Cheers,

      Jonathan

  3. Default Gravatar
    Ossie | November 23, 2015

    Hi, I have a credit card that I have allowed to get out of control. The current balance is $22,500 plus I also have a personal loan of some $20,000. Am self employed and am turning over enough $$ to keep the required repayments under control for now! Am also part of a family of five and so one has the honour and pleasure of providing my share for the day to day expenses plus school fees etc! As I am now the wrong side of fifty years of age, am looking at a bank transfer! Have been looking at what other Banks are currently offering, St George, Bank of Melbourne, Nab and City Rewards. Would appreciate any assistance or advice as regards my predicament? Cheers

    • Staff
      Jonathan | November 25, 2015

      Hi Ossie, thanks for your inquiry!

      Balance transfer credit cards provide a way to repay your existing credit card debt and personal loan debt interest free. A number of banks allow balance transferring of both credit card debt and personal loan debt, you can compare these credit cards on this page. In terms of being able to consolidate the entire debt amount of $22,500 for the credit card and $20,000 for the personal loan, this will be determined by the banks lending criteria and credit limit. The balance transfer limit is a percentage of your credit limit and will generally be around 95% of your approved credit limit. To compare balance transfer credit cards please see this page.

      Cheers,

      Jonathan

  4. Default Gravatar
    Jo | October 22, 2015

    I have recently relocated from the uk and have since built up debt whilst living in Aus but on my UK credit card. I’m really struggling to make a dent in the balance as the exchange rate is so poor. Do you know of any cards that will accept balance transfers from abroad? Currently I have around £8000 on my uk card … help!

    • Staff
      Jonathan | October 23, 2015

      Hi Jo, thanks for your inquiry!

      Unfortunately there are no balance transfer offers or credit cards that accept balance transfers from abroad. It would be best to inquire about debt repayment options in the UK.

      Cheers,

      Jonathan

  5. Default Gravatar
    Joseph | September 3, 2015

    I looking for best rate credit what could do?

    • Staff
      Sally | September 4, 2015

      Hi Joseph,

      Thanks for you comment.

      As a comparison website we cannot recommend any specific product or service to you, as the best option will always depend on your individual financial needs and situation. You may want to compare our Best Credit Cards to find one that suits you. Please take note of the eligibility requirements as applications do appear on your credit history.

      I hope this has helped.

      Thanks,

      Sally

  6. Default Gravatar
    adam | August 31, 2015

    I am trying to access the website to apply but always got a time out response. Is there any other way i can apply?

    • Staff
      Jonathan | September 1, 2015

      Hi Adam, thanks for your inquiry!

      To allow me to assist you further could you please inform us to which credit card you are trying to apply for?

      Cheers,

      Jonathan

  7. Default Gravatar
    susan | August 10, 2015

    I would like to transfer a $2,000 Debit card to another card with six months interest free. I applied to one but they would not transfer as it is on a debit card

    • Staff
      Jonathan | August 10, 2015

      Hi Susan, thanks for your inquiry!

      Unfortunately debit cards do not have a balance transfer feature. You may like to consider personal loans on this page.

      Cheers,

      Jonathan

  8. Default Gravatar
    adrian | July 22, 2015

    Can I use a balance transfer credit card to pay out a loan? I have a small business loan to pay out and would like to use a 20 month interest free balance transfer card to pay it out and continue with the repayments.

    • Staff
      Jonathan | July 22, 2015

      Hi Adrian, thanks for your inquiry!

      Balance transferring a loan to a credit card is accepted. Please see this page on credit cards that allow this type of transfer.

      Cheers,

      Jonathan

  9. Default Gravatar
    suzie | June 16, 2015

    Can I transfer 2 card balances into 1 card?

    • Staff
      Jonathan | June 16, 2015

      Hi Suzie, thanks for your inquiry!

      Balance transfers from 2 credit cards are supported provided the following criteria are met; you are the primary cardholder for both credit cards, the new credit card is not from the same bank as the 2 existing cards, the credit limit of the new credit card is sufficient for the balance transfer amount. You may like to refer to the following link for a guide on balance transfers.

      I hope this helps,

      Jonathan

  10. Default Gravatar
    Pat | June 12, 2015

    How many balance transfers allowed per year?

    • Staff
      sally.mcmullen@hiveempire.com | June 12, 2015

      Hi Pat,

      Thanks for your question.

      The conditions of the balance transfer will depend on which credit card you choose.

      The balance transfer usually depends on the amount you’re transferring over. For balance transfer promotional offers the balance transfer limit is generally around 95% of the available credit limit but varies depending on the lender.

      You may wish to view our Balance Transfer comparison page to compare your options.

      I hope this has answered your question.

      Thanks,

      Sally

Credit Cards Comparison

Rates last updated February 9th, 2016
Complimentary Travel Insurance Cover Bonus Points Points per $ spent Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a low interest rate on balance transfers and purchases with a low annual fee.
6 months VISA/MC: 0 AMEX: 0 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
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.
1 14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Interest Visa Card offers a balance transfer offer of 0% for 24 months. Apply by 30 April 2016.
VISA/MC: 0 AMEX: 0 13.99% p.a. 0% p.a. for 24 months with 2.5% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Credit Card
Receive $0 annual fee every year if you meet the spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
4 months VISA/MC: 1 AMEX: 0 19.99% p.a. 0% p.a. for 15 months $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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