Best Balance Transfer Rates – 0% Interest Credit Cards

Posted July 9th, 2008 and last modified August 22nd, 2014

Who else wants to pay 0% for up to 16 months on your credit card?

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

ANZ Low Rate

Long Term 0% Balance Transfer Offer

The ANZ Low Rate Credit Card offers a low interest rate on balance transfers with a low ongoing rate on purchases.

  • $58 p.a. annual fee
  • 13.49% p.a. on purchases
  • 0% p.a. for 16 months on balance transfers
  • Cash Advance Rate of 21.74% p.a.
  • Up to 55 days interest free
  • Minimum Income Requirement of $15,000 p.a.

0% Balance Transfer Credit Cards Comparison

Rates last updated August 28th, 2014.

Interest rate (p.a.) Balance transfer rate (p.a.) Annual
fee
Interest
saved
ANZ Low Rate
ANZ Low Rate
A low rate credit card option from ANZ featuring a low interest rate on balance transfer and purchases. PayPass available with this card at participating merchants. 13.49% p.a. 0% p.a. for 16 months $58 p.a. Go to siteMore info
ANZ Platinum Credit Card
ANZ Platinum Credit Card
A low balance transfer offer with a low annual fee. 19.74% p.a. 0% p.a. for 16 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to siteMore 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. Go to siteMore info
St.George Vertigo Visa
St.George Vertigo Visa
A low rate on balance transfers with a low ongoing rate on purchases. Plus a low annual fee. 13.24% p.a. 0% p.a. for 14 months $55 p.a. Go to siteMore info
HSBC Credit Card
HSBC Credit Card
A competitive offer from HSBC featuring a no annual fee for the life of the card, and a balance transfer deal. 17.99% p.a. 0% p.a. for 6 months $0 p.a. Go to siteMore info
ANZ Low Rate Platinum Credit Card
ANZ Low Rate Platinum Credit Card
A low interest rate on purchase with up to 55 days interest free. Plus enjoy a low rate balance transfer offer. 13.49% p.a. 0% p.a. for 16 months $99 p.a. Go to siteMore info
Bankwest Breeze MasterCard
Bankwest Breeze MasterCard
A long term balance transfer with a low ongoing purchase rate. Good credit history is needed. 12.24% p.a. 0% p.a. for 13 months $59 p.a. Go to siteMore info
Bank of Melbourne Vertigo Visa Credit Card
Bank of Melbourne Vertigo Visa Credit Card
An introductory balance transfer offer that stacks up very well with the market. 13.24% p.a. 0% p.a. for 14 months $55 p.a. Go to siteMore info
Bankwest Breeze Platinum MasterCard
Bankwest Breeze Platinum MasterCard
Low interest rate on balance transfers and purchases. Plus no foreign transaction fees on online and overseas purchases. 12.24% p.a. 0% p.a. for 13 months $99 p.a. Go to siteMore info
Citibank ReadyCredit - Balance Transfer Offer
Citibank ReadyCredit - Balance Transfer Offer
Exclusive Offer to Credit Card Finder No annual fee with an introductory balance transfer offer for new applicants. Includes a unique 'cheque to self' feature which allows you to access up to 80% of your credit limit. 19.49% p.a. 0% p.a. for 6 months $0 p.a. Go to siteMore info
Westpac Low Rate Card
Westpac Low Rate Card
A long term balance transfer credit card with a low ongoing rate on purchases with a low annual fee. 0% p.a. for 12 months (reverts to 13.49% p.a.) 1.99% p.a. for 12 months $45 p.a. Go to siteMore info
Coles No Annual Fee MasterCard
Coles No Annual Fee MasterCard
Pay no annual fee plus earn flybuys points on purchases. 17.99% p.a. 0% p.a. for 6 months $0 p.a. Go to siteMore info
Coles Rewards Mastercard
Coles Rewards Mastercard
Earn flybuys points and transfer your existing credit with a low interest rate offer. 19.99% p.a. 0% p.a. for 6 months $49 p.a. Go to siteMore info
Citibank ReadyCredit
Citibank ReadyCredit
A long term balance transfer offer. Plus no annual fee, no monthly servicing fees and no cash advance fees ever. 19.49% p.a. 5.9% p.a. for 24 months $0 p.a. Go to siteMore 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 is when you transfer your balance and pay 0% interest on it for a set term. 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.

Balance transfer deals

Compare balance transfer credit card offers and you could save up to hundreds of dollars in credit card interest repayments. Shopping for 0% balance transfer credit cards can save consumers hundreds of dollars in interest charges, and statistics show that around half of Australian grocery store purchases are made with credit cards. The decision as to which credit card you use has a strong impact on how much is paid in interest. One way you can save money in interest charges is to shop around for a 0% balance transfer credit card to transfer your existing balances to a 0% p.a. card for a set period of time.

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Case study: Julie’s school supplies

Title

Julie 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!

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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.

how does a balance transfer work?

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

You can get the best balance transfer rates by comparing our balance transfer credit cards and choosing the one that best 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 best 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 tip for you

  • 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.

Balance transfers offers can last up to year, but the ones that offer 0% usually last around 6 to 9 months. Note that balance transfers often require a good credit rating for most application approvals.

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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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? The other options are to consolidate your debt into a personal loan or your home loan.
  • 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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FREE BONUS: Download a copy of our newly released e-book: The Ultimate Guide to Balance Transfers

HSBC Credit Card

Balance Transfer Credit Card Offer

The HSBC Credit Card has a no annual fee for life, as well as a very good balance transfer offer. Pay off your existing credit card by transferring your balance over to the new HSBC Credit Card.

  • $0 p.a. annual fee
  • 17.99% p.a. on purchases
  • 0% p.a. for 6 months on balance transfers
  • Cash Advance Rate of 21.99% p.a.
  • Up to 55 days interest free
  • Minimum Income Requirement of $20,000 p.a.

You may also be interested to apply for a credit card that offers 0% interest on purchases. If so see our comparison of 0% purchase rate credit cards.

If you’re interested in comparing more balance transfer credit cards click here

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

  1. Default Gravatar
    Kylie | August 27, 2014

    IS there a balance transfer credit card that doesn’t require an income when applying?

    • Staff
      Shirley | August 27, 2014

      Hi Kylie,

      Thanks for your question.

      Unfortunately in most cases you will need a stable income to be eligible for a credit card.

      Cheers,
      Shirley

  2. Default Gravatar
    Karen | August 22, 2014

    your comparison chart is very useful. Is there a way I can print a hard copy.

    • Staff
      Shirley | August 27, 2014

      Hi Karen,

      Thanks for your question.

      Unfortunately you can’t print the table itself, but you can print the page which has the table on it.

      Please open the relevant page, then click file –> print.

      All the best,
      Shirley

  3. Default Gravatar
    leigh | August 14, 2014

    I have $2000 cash advance on a credit card & other credit of about $1500, if I transfer to an ANZ interest free card for the qualifying time, do I pay interest on the cash advance component? many thanks leigh

    • Staff
      Shirley | August 15, 2014

      Hi Leigh,

      Thanks for your question.

      No you won’t pay interest on the cash advance component. The offer applies to the whole balance that is transferred from your eligible credit card accounts.

      Please keep in mind that you’re still required to make minimum repayments.

      All the best,
      Shirley

  4. Default Gravatar
    Davina | July 27, 2014

    Can I ask the bank I have my Credit card with, if i can get the 0% Interest for however long their offering?

    • Staff
      Shirley | July 28, 2014

      Hi Davina,

      Yes you an definitely can, although the success of your request can not be guaranteed.

      Cheers,
      Shirley

  5. Default Gravatar
    Linda | July 25, 2014

    how much 2 transfer 10,000 from 1 credit card 2 the other

    • Staff
      Shirley | July 28, 2014

      Hi Linda

      Thanks for your question.

      Generally balance transfers don’t charge a fee. If a fee is charged, it will be stated on the enquiry page that you see after clicking ‘apply now’.

      Cheers,
      Shirley

  6. Default Gravatar
    kylee | July 25, 2014

    Hi I was wondering which credit card I could get being on the pension and maybe a default

    • Staff
      Shirley | July 25, 2014

      Hi Kylee,

      Thanks for your question.

      Unfortunately most credit cards require a good credit history, as well as a supplementary income depending on the type of pension you receive.

      Please see this page for more information and alternative options you may want to consider.

      Cheers,
      Shirley

  7. Default Gravatar
    | July 24, 2014

    what is the minimum monthly repayment on a no interest credit card where a balance has been transferred from another bank ?

    • Staff
      Shirley | July 24, 2014

      Hi Michelle,

      Thanks for your question.

      It depends on the minimum repayment requirements of the specific card.

      When you click through to our reviews, and scroll down to the bottom where it says “fees and repayments” you can see what the minimum repayment is.

      Cheers,
      Shirley

  8. Default Gravatar
    Gray | June 22, 2014

    I would like to purchase a $50 gift card as a birthday gift for my grandson. Please advise the best way to do this. Thank you, Gray

    • Staff
      Shirley | June 23, 2014

      Hi Gray,

      Thanks for your question.

      You can compare gift card providers on this page. When you’ve found a gift card that you’d like to purchase, you can click on ‘view details’.

      Cheers,
      Shirley

  9. Default Gravatar
    Shaz | June 17, 2014

    Hi,

    1. Can I transfer the balance to several credit cards under my name?

    2. Can I do the balance transfer more than once to the same credit card and still be charged 0% interest, as long as it’s within the promotional period?

    Thanks.

    • Staff
      Shirley | June 18, 2014

      Hi Shaz,

      Thanks for your question.

      You’re free to transfer as much as you like, from as many cards as you like, as long as it is not more than your approved credit limit on your new card (and they are all under your name).

      Unfortunately you can only perform a balance transfer once.

      Cheers,
      Shirley

  10. Default Gravatar
    Paul | June 5, 2014

    Money has been taken out of my account by this company and I have never heard of it I would like my money refunded

    • Staff
      Shirley | June 6, 2014

      Hi Paul,

      Thanks for your question.

      Please contact your credit card provider about this, as you may have protection in place for a refund.

      Cheers,
      Shirley

  11. Default Gravatar
    jith | June 5, 2014

    Hi,
    Recently I have noticed my no fee NAB credit card is charging me extra for purchasing things from overseas. Can you suggest me a supplementary card for internet payments , obviously no fee and no extra fees for using overseas.
    Tx

    • Staff
      Shirley | June 6, 2014

      Hi Jith,

      Thanks for your question.

      You can find a list of card that don’t charge a currency conversion fee on this page.

      Cheers,
      Shirley

  12. Default Gravatar
    Victoria | June 4, 2014

    Hi

    Recently I heard on FOXFM there is a credit card that has 0% transaction fees on overseas purchases. I would like to find out more about these cards but didn’t know where to look for this information on this site. Ideally I would also like a credit card that has 0 fees on withdrawals from any ATM and no conversion fees. Or a credit card that is close to all the above criteria.

    I look forward to hearing from you.

    Cheers
    Vic

    • Staff
      Shirley | June 6, 2014

      Hi Victoria,

      Thanks for your question.

      This page has a list of credit card that don’t charge the currency conversion fee. Unfortunately all credit cards do charge you for withdrawing funds out of an ATM because this is considered a cash advance.

      Cheers,
      Shirley

  13. Default Gravatar
    Neil | June 2, 2014

    I am looking to transfer my American Express balance to a lower rate credit card. Once approved am I able to use the new credit card or do I need to repay the balance first

    • Staff
      Shirley | June 3, 2014

      Hi Neil,

      Thanks for your question.

      You can use your new credit card, but please be mindful that the 55 interest free days is generally voided if you balance transfer.

      Cheers,
      Shirley

  14. Default Gravatar
    Amy | May 12, 2014

    Can you use a balance transfer credit card on an overdraft?

    • Staff
      Shirley | May 14, 2014

      Hi Amy,

      Thanks for your question.

      Generally, credit card providers don’t allow you to balance transfer an overdraft, but there could one or two out there that do. This is definitely worth researching.

      You may want to call a few credit card providers to confirm this.

      Cheers,
      Shirley

  15. Default Gravatar
    Paul | April 27, 2014

    Hi,
    This is Paul. I got a commonwealth bank low rate credit card which has 16.000 dollars balance. My income is 40.000 p.a. Is it possible I can apply a new credit card to do a balance transfer? Thanks.

    • Staff
      Shirley | April 30, 2014

      Hi Paul,

      Thanks for your question.

      Unfortunately we can’t comment on your eligibility as we don’t handle the applications ourselves. It’s probably best to speak to read the eligibility criteria on the bottom of our reviews, and if you’re still unsure, speak to the credit card provider without making formal applications.

      Cheers,
      Shirley

  16. Default Gravatar
    parama | April 18, 2014

    Hi this is parama
    I have personal loan in commonwealth bank.Can i get balance transfer credit card from bank sa for my personal loan?

    • Staff
      Shirley | April 22, 2014

      Hi Parama,

      Thanks for your question.

      To our knowledge, two institutions that may be able to help you at Citibank and Virgin in terms of transferring a personal loan to a credit card.

      Cheers,
      Shirley

  17. Default Gravatar
    Nicole | April 9, 2014

    I use my credit card for automatic payments. I want to transfer current amount and keep other one to maintain those automatic payments. Is that possible?

    • Staff
      Jacob | April 10, 2014

      Hi, Nicole.

      You do not have to close your old account after you transfer a balance to a new credit card. You can keep the account open and the automatic payments will still be processed from that account.

      Thanks for your question.

  18. Default Gravatar
    | April 7, 2014

    Could you please tell me which balance transfer credit cards will accept a joint application. It can’t be BOM as we are already customers there. Thanks, Jacquie.

  19. Default Gravatar
    Sue | March 31, 2014

    Hi,

    I have a fully paid vodafone default on my credit report. Not sure which bank would accept paper document in supporting a balance transfer approval?

    At the moment, I receive a lot of rejection because of a fully paid default history from 2 years ago.

    • Staff
      Jacob | April 1, 2014

      Hi, Sue.

      Thanks for your question.

      In some instances people with a default on their credit file will still be able to apply for credit. The card may need to be applied for in person with supporting documentation showing that the default listing has been addressed and paid in full.

      I hope this helps.

  20. Default Gravatar
    Robin | February 25, 2014

    Hi. I want to inquire, can I do a balance transfer with my existing bank? For instance, if I have a credit card with the same bank, can I do a balance transfer to another credit card of same the bank.

    • Staff
      Jacob | February 26, 2014

      Hi, Robin.

      Thanks for your question.

      The short answer is no. You can’t transfer between two cards offered by the same institution at the promotional balance transfer rate of interest. However, you can perform a credit swap to another card, but the interest rate will be much higher than the balance transfer promotional rates you see on our site.

      For more information about balance transfer, please have a look at this video on balance transfer basics from one of our money experts, Michelle Hutchison.

      I hope this helps.

  21. Default Gravatar
    ian | February 19, 2014

    I have a Commonwealth Bank MasterCard maxed out at $15,000. I’m currently not working but have job in pipeline. I would like to be able to transfer 100% of the balance for at least 6 months till I am back on my feet so I am after a 100% transfer card, and one that will allow to do this while I am on Centrelink payments of 500 fortnightly. I guess I am hoping too much but if you don’t ask… Well you know the rest.

    Thanking you for your time.

    Ian.

    • Staff
      Jacob | February 19, 2014

      Hi, Ian.

      Thanks for getting in touch with us about your question.

      When you transfer a balance to a card provider, they will let you use up to a percentage of your approved credit limit towards transferring a balance. ANZ, for instance, will allow you to use up to 95% of your credit limit towards a balance, so if you were approved for a credit limit of $10,000, you could use up to $9,500 of your credit limit towards a balance transfer. Each provider has slightly different rules about this, so please have a look at this page for maximum balance transfer limits.

      About the second part of your question. If you were employed when you first got the credit card, but you’re now unemployed and you’re looking to apply for another card, although you still may be approved for a card while you’re on Centrelink payments, it’s very unlikely that you will be able to transfer all of the balance from your previous card to your new card. Because you’re now on a reduced income, you will not be approved for the same, or higher, credit limit as your old card, which means you will not be able to transfer the entire balance to your new account. The bank will factor in your reduced income as well as your credit card debt when assigning you a credit limit.

      I hope this has answered your question and please feel free to get in touch if you have any further questions.

  22. Default Gravatar
    Stephen | January 29, 2014

    I needed a printout I could enlarge to fathom out details,(Hard Copy).

    This feature was not available your site.

    Looking at other sites to determine.
    Thanks for the intro:

  23. Default Gravatar
    Ken | January 28, 2014

    Am I correct in assuming that once I transfer to a 0% for 12 months that after the 12 month period the interest rate will revert to the interest rate at that time (say 13.24%)

    • Staff
      Marc | January 29, 2014

      Hi Ken,
      thanks for the question.

      The revert rate for a balance transfer can be either the cash advance rate or the purchase rate. The exact rate will depend on the card you’re applying for, so be sure to read the terms and conditions.

      I hope this helps,
      Marc.

  24. Default Gravatar
    Joshni | January 24, 2014

    want to discuss about balance transfer if you contact
    me

    • Staff
      Shirley | January 29, 2014

      Hi Joshni,

      Thanks for your comment.

      Unfortunately we don’t provide this service, if you’d like to discuss balance transfer please contact our customer service team on (02) 9299 7602.

      Cheers,
      Shirley

  25. Default Gravatar
    Katerina | January 19, 2014

    Hi, I have a finance on a car – can I do balance transfer? Thanks for advice
    Katerina

    • Staff
      Matt | January 20, 2014

      Hi Katerina,

      Thanks for your message – Not many institutions offer balance transfers from loans. Two institutions who may help you are Citibank and Virgin Money.

      Make sure you let us know how you go.

      Cheers
      Matt

  26. Default Gravatar
    Selena | December 9, 2013

    I have 3 balances I would like to transfer. Is it possible to transfer all 3 at once??

    Thanks in advance

    • Staff
      Jacob | December 9, 2013

      Hi Selena.

      You can transfer the balance of a number of different cards to the one card provided that you’re not bringing the balance from a card offered by the same institution you wish to transfer the balance from. Another important point is that you can only transfer up to a percentage of your approved credit limit. You can read up about more about this topic on this page.

      Thanks for your question.

  27. Default Gravatar
    Simon | October 30, 2013

    I have 8000 pounds on a Lloyds/tsb MasterCard owing in the UK. I am permanent here in Australia and would like to transfer this debt to an Australian card. Do you know of any cards that will allow balance transfers to UK cards?

    • Staff
      Jacob | October 31, 2013

      Hi Simon.

      You can not transfer a balance on an overseas credit card to an Australian credit card.

      Thanks for your question.

  28. Default Gravatar
    ken | October 23, 2013

    I have an westpac earth rewards credit card. With $3700 owing. What is the best rewards credit card with good balance transfer deal. Please help

  29. Default Gravatar
    peter | October 11, 2013

    I just came off promo rate with Citibank was 4% now 21.75 %. I have a Commonwealth Bank Credit Card, which is not maxed out. Is it worth transferring balance to this or another institution? Thanks. Peter.

    • Staff
      Jacob | October 11, 2013

      Hi Peter.

      A balance transfer is a great way of cutting back on your interest repayments, it makes sense for people who are looking to pay less each month in credit card interest. You will need to check with the Commonwealth Bank to see what type of balance transfer they can offer to an existing cardholder – some institutions will transfer a balance to an existing credit card under the purchase rate of interest only, and not at the promotional rates of interest you see advertised.

      You can also open a new credit card with a balance transfer promotion and transfer the balance to your new credit card. You can compare balance transfer credit cards on this page.

      There are also a few things you should be aware of when you go to transfer a balance – like maximum balance transfer amounts – you can view these considerations on this page.

      Thanks for your question.

  30. Default Gravatar
    denish | October 4, 2013

    Hi. I have accrued a large ($30,000) debt on my Commonwealth Bank MasterCard over the years and the $350 a months interest is killing me! What should I do?

    • Staff
      Jacob | October 4, 2013

      Hi Denish.

      Thanks for your question.

      A balance transfer is one of the most popular options for someone looking to cut down on their interest repayments. You can compare balance transfer credit cards on this page.

      In a nutshell, a balance transfer works by allowing you to move your credit card debt from one card to a card offered by a different institution. When you transfer the balance, you’ll get a promotional interest rate for a set term.

      You can also read about the key considerations you need to be aware of when you’re carrying out a balance transfer on this page.

  31. Default Gravatar
    Coco | September 27, 2013

    I want to transfer a balance of $3,400 to a balance transfer credit card and pay it off as soon as possible. Who do you suggest I go with?

    Also, would i be able to use the card even though i would be paying it off or should i get a second card to have just in cash i urgently need it.

    Thanks.

    • Staff
      Jacob | September 27, 2013

      Hi Coco.

      Run the figures through our balance transfer calculator to see which card is going to be of the greatest benefit.

      If you transfer a balance transfer (BT) balance to a card and then you use the card to make a purchase, the balance which attracts the highest rate of interest will be paid back first when you pay money onto the card. Making a purchase on a card that has a BT balance on it should be avoid, if you’re paying back the purchases or cash advances rather than the BT, the time the balance is charged at the promotional interest is reduced.

      I hope this helps, let us know if you would like more information about balance transfers.

      Thanks.

  32. Default Gravatar
    kerry | September 18, 2013

    Where do I find Westpac application once I saved it.

    • Staff
      Jacob | September 18, 2013

      Hi Kerry.

      Head to the Westpac website. Go to the application page of the card you started to sign up for and click on resume application.

      Thanks.

  33. Default Gravatar
    Chloe | September 4, 2013

    I have a Commonwealth Bank Low Rate Visa Credit Card with $5000 owing.

    I want to transfer this debt with 0% for 6 months so that I have time to pay it off. Maybe one with no or a low annual fee.

    Any help would be greatly appreciated

    • Staff
      Jacob | September 4, 2013

      Hi Chloe.

      Thanks for getting in touch with us about your question!

      There are a few things you should be aware of when you carry out a balance transfer – the revert rate and maximum balance transfer limits are few things you should familiarise yourself with before applying for a balance transfer offer. You can find out more about these topics on this page.

      You can compare balance transfer offers on this page. Use the table headings to order cards by their annual fee, rates of interest and balance transfer offers. You can use the check boxes to the left of the table and the compare buttons at the top of the bottom of the table to compare cards side by side.

      Once you’ve found the balance transfer offer and credit card you want to apply for, please click apply to be directed to a secure application page.

      For most cards, you will need to elect to transfer a balance when you apply for the card. You select which institution you want to transfer a balance from, enter your card number and the amount you want to transfer, and if you’re approved, the balance transfer will be processed after you activate the card. It should take about two business days before the funds have been transferred from your old account to your new account.

      Please let us know if you need more information on this topic and if there’s anything else we can help with.

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    Dana | August 12, 2013

    Hi. I owe 3,700 on my mastercard from the c.b.a. i want to pay it off but am unsure which lender i should go to. can you help?

    • Staff
      Shirley | August 12, 2013

      Hi Dana,

      Thanks for your comment.

      You will need to have a look at your financial situation and choose a balance transfer period that will allow you to pay your whole balance within that period.
      Please compare our balance transfer credit cards as we list different timeframes that could be suitable for you.

      This article may also give you more information about the process of balance transfers.

      Hope this helps,
      Shirley

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    Barry | August 11, 2013

    I have 2 credit cards one is $11,000 the other is $6000
    The one with a $11000 balance has already been a balance transfer.
    We have nearly finished renovating our house for re-sale and have used the credit cards to fund the renovations.
    I have applied to Citibank and Virgin for balance transfer but neither will give me the $17,000 I need until the house sells (6 months)

    Have you any suggestions where I should apply?

    • Staff
      Jacob | August 12, 2013

      Hi Barry.

      If multiple lenders have rejected your requests for credit, it’s unlikely that another lender will accept your application. You will need to increase your ratio of assets to debt before you can get more credit.

      Thanks for your question.

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    Reg | August 2, 2013

    I am a pensioner and have a NAB credit card with a $9000 limit and this is almost to the maximum limit at present. With having to pay the interest I cannot catch p with payments to get the amount down. I am presently only able to keep it at just below the $9000 limit. I do not really want to declare myself bankrupt and would like to know is it worth me transferring to a nil amount credit card. I can only afford to repay about 260 a month back so I am still not going to be able to pay off the card in 9 months which appears to be the longest time I can transfer my balance. I would appreciate your opinion.

    • Staff
      Shirley | August 5, 2013

      Hi Reg,

      Thanks for your comment.

      You may want to use our balance transfer calculator to have a look. If a 9 month balance transfer isn’t long enough, you may want to consider one that extends for up to a year. Even though they’re not a 0% p.a. offer, the interest rate may still be lower than your current credit card.

      Please let me know if you need any more assistance.

      Hope this helps,
      Shirley

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    Daniel | July 19, 2013

    Hi Jacob, I have accrued a large ($30,000) debt on my Citibank Mastercard over the years and the $1000 a month repayments are killing me! What are the chances of another institution taking on a balance transfer that large, or would it only be part of it, leaving me with 2 cards and 2 balances?
    Cheers Dan.

    • Staff
      Jacob | July 19, 2013

      Hi Dan. This all depends on your income. The important thing to remember is that different lenders will let you transfer up to a percentage of your approved credit limit. You can find more information on this topic on this page. It’s also worth noting that if you have maxed out a credit card and you have used the maximum amount of available credit given to you, you’re chances of being able to transfer that entire debt to another card are slim. If you’re experiencing stress from your credit card repayments, any relief in interest repayments is better than none. I hope this helps. Jacob.

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    Mahesh | July 16, 2013

    Hi. Well I have few credit card debts around $12,000. I am getting sick of paying the monthly payment for them, which costs me $280 per month. My request is, which balance transfer offer is suitable for me to get rid of this hassle plus I can save money.
    Thanks.

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    Steve | July 12, 2013

    Hi, I have to close out my current HSBC Premiere card and go to a standard one. At the same time I want to leave my money in the bank and take advantage of zero interest.

    Quick question, when you transfer the balance do the automatic payments go with it or do I have to change each one like iTunes etc before the transfer?

    Thanks,

    Steve

    • Staff
      Jacob | July 12, 2013

      Hi Steve. Thanks for your question.

      If you switch from one card to another, you will need to transfer over your direct debits yourself. You can do this by contacting the merchants directly and updating your billing information. If you wish to set up new direct debits, this can be done by downloading a direct debit request form from the lender’s website.

      I hope this helps.

      Jacob.

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    Joe | July 10, 2013

    I am looking for a credit card that will maximize my ability to collect as many Qantas points. Fees and charges are not an issue but i would like to stay away from Amex as it just isn’t accepted in as many places.
    Cheers
    Joe

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    Christine | July 3, 2013

    I recently applied to transfer to a major bank & they only would give me $7,000, therefore I was left with 2 credit cards. Is there any bank at present, considering the interest rates are down, that will lend approximately 18,000 with a 0% transfer for 12 months?

    • Staff
      Jacob | July 3, 2013

      Thanks for your question Christine.

      When you apply for a credit card, you can request a specific credit limit, however, your approved credit limit is up the lender. If you were only approved for $7,000 considering your current financial debts and liabilities, it’s unlikely that you will be approved for a higher amount without you having took steps between applications to reduce the size of your credit card debt. There are a number of balance transfer credit cards in the market and you can compare balance transfer offers on this page.

      Credit cards are an unsecured credit product. Although lending rates are influenced by the cash rate target decisions from the Reserve Bank of Australia, credit card interest rates do not historically move in line with the cash rate or decisions to lower or increase lending rates from credit providers – products like mortgages and savings accounts are the products that are directly influenced by the Reserve Bank.

      I hope this helps.
      Jacob.

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    nick | June 30, 2013

    hi i recently got a $7000 personal loan from a bank. i was just wondering if i could do a balance transfer to a credit card from my personal loan?

    • Staff
      Jacob | July 1, 2013

      HI Nick. Thanks for your question. Yes, you can do this, but you will need to transfer the balance to a credit card offered by Citibank or a card offered by Virgin. These two institutions will allow you to transfer the balance to a personal loan taking advantage of a balance transfer promotional rate of interest. I hope this helps. Jacob.

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    Kashia | June 29, 2013

    Do all banks require you to be a permanent resident to get issued with a credit card?
    Many thanks

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    Vicki | June 27, 2013

    Hi. My credit card balance is $4,000 with the Commonwealth Bank interest rate 19.74% p.a. and not getting anywhere with it. Can you suggest a interest free card that would help.
    Thanks.

    • Staff
      Jacob | June 27, 2013

      Hi Vicki. Thanks for your question. A balance transfer is one of the most popular options for someone in your situation who is looking for relief from interest charges. There are a number of balance transfer offers currently in the market. You can compare balance transfer credit cards with a 0% promotional period on this page. There are a number of cards on the page provided in the link, so it really comes down to how long you think it will take in order to pay the entire balance transfer balance. This will help you decided on a promotional term. Please be aware that at the end of the balance transfer promotional period, the balance will be either charged at the purchase rate or cash advance rate of interest. You can compare providers and their balance transfer revert rates on this page.

      I can’t make a suggestion as to which card you should go for; however, I can help you with questions about the specifics of cards listed on this site. If you have any further questions, please don’t hesitate to get in touch with us. Jacob.

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    Michael | June 22, 2013

    Hi Jacob. Are there any cards that offer good balance transfer rates but with the benefit of accruing frequent flyer points?

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    Dona | June 19, 2013

    Hi, I have come to Australia from UK and have a credit card which I am paying off in the UK however sending money back to my English account isn’t really ideal with the exchange rate. Was wondering if I obtained an Australian Credit card could I do a balance transfer from the UK one to here?
    Thanks

    • Staff
      Jacob | June 19, 2013

      Hi Dona. You can not transfer a balance from a non-Australian credit card to an Australian credit card. Jacob.

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    Amanda | June 18, 2013

    How can I get the same deal that ANZ offers to its new customers. I am existing customer and I want to pay off my credit card but it seems I am just paying the interest every month. What balance transfer cards could you recommend?

    • Staff
      Jacob | June 18, 2013

      Hi Amanda. Thanks for your question. If you’re an existing customer of ANZ, you can still transfer a balance to your existing ANZ credit card provided that you’re transferring a balance from a non-related institution. If you’re looking to transfer a balance from an ANZ credit card, you will need to transfer the balance to a non-ANZ credit card. You can compare balance transfer credit cards here. Jacob.

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    Rebecca | June 12, 2013

    If I apply for a balance transfer, will it be for the whole amount of the card I want to transfer or will it be for an amount set by the new bank?

    • Staff
      Jacob | June 13, 2013

      Hi Rebecca. Thanks for your question. When you apply for a card and tick the box that says, ‘I want to transfer a balance’, you then enter the number of the card you wish to transfer from and an amount you’d like to transfer. Whether or not this is accepted will depend on you new approved credit limit. Say you want to transfer $10,000 and you’re approved for a card with a credit limit of $8,000, the amount you can transfer will be all of, or a percentage of, your new credit limit. Check this page for information on maximum balance transfer amounts and revert rates. Jacob.

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    Jay | June 12, 2013

    Hi Jacob,

    Do you see any issue in applying for a balance transfer with no ‘balance?’

    I’d like $3k cash for wedding expenses and my 28Degrees has a nil balance, so I’d be applying to transfer ‘available’ funds. Would this simply result $3k positive balance on the 28Deg (which I could withdraw from atm as needed)?

    I’ve had no issues in ‘loading up’ the card for travel but not sure if this would work as a transfer.

    Would I be better off withdrawing the cash and then applying for the transfer? Obviously I’d rather avoid this due to the cash advance rate.

    thanks

    • Staff
      Jacob | June 12, 2013

      Hi Jay. Technically what you’re suggesting is possible – I’m going off anecdotal evidence here though – but it’s not advised as this was not the way this credit card feature was designed to be used. I can’t comment on this and I don’t think you will have any luck speaking to a bank’s representative trying to find an answer to this question. If you withdraw the cash and then try to transfer, your transfer request should be accepted if you’re accepted for a new card, but if you try to do it as you’ve suggested in your question, there may be issues with processing the transfer and it may end up putting a damper on the wedding proceedings. Hope this has helped. Thanks for your question. Jacob.

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    Bhavesh | June 7, 2013

    Hi Jacob. I have not paid my Vodafone bill, and they put me on bad credit. So I just cleared it. After five days its been cleared n apply for Citibank balance transfer to my other credit card it was declined.
    How many days it will take to update my credit file?

    • Staff
      Jacob | June 8, 2013

      Hi Bhavesh. Thanks for your question. According to the My Credit File website, ‘A payment default stays on your credit file for five years, even when you have paid the overdue amount. The fact that an account has become overdue and then been paid becomes part of your credit history.’ Hope this helps. Jacob.

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    Lynda | June 6, 2013

    OK I have a HSBC credit card and a Bankwest Platinum card.. I see on a list of cards they both have the option of 0% transfer options. I have money spent recently on each. This sounds crazy but can I transfer the amount from the HSBC card ($1600) to the Bankwest card and the Bankwest balance ($4000) to the HSBC card and get the deals they are offering or are these for new customers only?

    • Staff
      Jacob | June 6, 2013

      Hi Lynda. Not crazy. When you activate a Bankwest credit card the promotional balance transfer begins. If you want to transfer a balance to a Bankwest card with a 6 month promotional offer, three months in to the offer starting, you would only get the remaining three months under the promotional rate of interest – I hope I explained that properly. To be eligible for a promotional balance transfer rate on a HSBC the request must be made at the time of applying for the card. Let us know if you have any more questions. Thanks.

    • Default Gravatar
      Lynda | June 6, 2013

      Thanks Jacob that helps… but I can’t transfer.. I’ve had both of these cards a while now. So cards only offer the0% from when you apply or receive the card… I am sure I received a letter in the mail offering cheap balance transfer options from the Bankwest one.. but I’m not sure… I will look for a new card, but don’t want to keep applying an applying for cards so am thinking about the Citibank one which offers low percentage for 2 or 4 years….. thanks again.

    • Staff
      Jacob | June 6, 2013

      Hi Lynda. Lenders do make offers available to their existing customers from time to time, and they may be able to offer you a balance transfer promotion if you speak to them directly. It might be worth speaking to a manager at a bank. It can’t hurt to ask. Thanks. Jacob.

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    | May 29, 2013

    Hi. I have to put a couple of thousand dollars on my NAB credit card. I’m looking to apply for another credit card for a balance transfer,which one would be the best for that?

    • Staff
      Jacob | May 30, 2013

      Hi Ravi. Thanks for your question. If you’re looking to carry out a balance transfer, you will need to compare cards to find the card that’s right for you. Here’s some information to help your comparison. If you’re looking for some general information on balance transfers, please watch this video from Fred – it explains balance transfer basics. This video from me, explains what you need to do after you carry out a balance transfer. A few things to be aware of when choosing a balance transfer credit card. The length of the promotional term should match up to your expectations of how quickly you can pay off the debt. The card provider will allow you to transfer either a percentage or all of your credit limit – check this page for maximum balance transfer amounts. Please let us know if you would like more information on this topic. Jacob.

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    Emanuel | May 29, 2013

    I have tried to apply to two different companies for balance transfer. The forms are so stupid. Can you please tell me how to fill them correctly. I put down that I am retired/pensioner and they still kept asking to fill employer details. If I have put retired why have they kept asking me my employer details?

    • Staff
      Jacob | May 29, 2013

      Hi Emanuel. What card are you referring to? Let us know and we can assist you with this. If you would like to contact us, you can reply through this message or email us @help@finder.com.au – Jacob.

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    Alex | May 27, 2013

    I have 3 credit cards I want to transfer over to a low rate credit card and pay the balance off over 2 years. By doing a credit transfer to a low rate credit card, will my credit rating change at all?

    • Staff
      Jacob | May 27, 2013

      Hi Alex. A credit rating is an American thing, we have a credit file, which basically lists all the times you’ve applied for credit. A lender can’t see that you’ve been successful or your application has been declined, rather just that you’ve applied. So if you’re looking to transfer a balance, you will need to apply for a card to do so, or contact your current lender to see if they can transfer a balance from another credit card to your existing account. Your credit file will be updated with recent activity when you do this; however, it’s neither good or bad. Applications become an issue when you apply for credit too many times in a short space of time. Jacob.

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    Bernie | May 10, 2013

    Hi guys just a quick one
    Thank you for the reply
    and you input I notice we all come for advice and rarely do we say thanks for you time and valuable knowledge in this area
    Cheers
    Bernie

  56. Default Gravatar
    Umlesh | April 26, 2013

    Is the St.George Vertigo MasterCard included in 0% balance transfer?

  57. Default Gravatar
    Mary | April 25, 2013

    Just wondering, I have a credit card with ANZ Low rate, however I want to transfer my balance, so that I get some months 0% interest.

    • Staff
      Jacob | April 25, 2013

      Hi Mary. Thanks for the question. The page you’re on, 0% balance transfer offers, compares the current 0% balance transfer offers available to apply for. If you’re wondering how the process works, you may want to watch these videos.
      For information on balance transfers, check this video on balance transfer basics.
      This video explains what you need to do after a balance transfer.
      And this video shows how the online application process works.
      You apply for a balance transfer when you apply for a credit card. A bank or lender will let you transfer up to a percentage of your approved credit limit. Check this page for balance transfer limits.
      Let us know if you have any further questions. Jacob.

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    zahid | April 19, 2013

    i have card to transfer balance amount is 20000

    • Staff
      Jacob | April 19, 2013

      Hi Zahld. Thanks for your question. If you would like to transfer a balance, you will need to apply for a credit card with a balance transfer promotion. Please watch this video to understand how the process works. And watch this video to find out what you need to do after a balance transfer has been carried out. You can elect to carry out a balance transfer when you apply for a new credit card, and the amount you can transfer up to a percentage of your approved credit limit. Let me know if you have any further questions. Jacob.

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    Milly | April 18, 2013

    On a ANZ platinum card, you can balance transfer for 0% for 9 months. Is there an additional balance tranfer cost with this bank?
    If so, are there other banks that do not charge this additional cost?

    • Staff
      Jacob | April 18, 2013

      Hi Milly. Thanks for your question. Some banks do charge a fee for processing a balance transfer from time to time; however, there are currently no cards that charge a balance transfer fee for new customers. So when you carry out a balance transfer, these are the only charges you will incur: the balance transfer promotional rate of interest and the cards annual fee (if applicable) – this is assuming you don’t spend on the card – the minimum monthly repayment is calculated from this. There are no fees for paying a balance transfer balance out early, nor are there any fees for closing the account. Hope this helps, let us know if you have any more questions. Jacob.

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    Michelle | April 9, 2013

    I currently have a CBA low rate mastercard. My repayment rate is 55 days interest fee on all purchases and 12.99% there after. Cash advances are at $21.24%.
    I mainly want to ensure I am getting the best value when it comes to credit cards and looking to transfer my balance if not…..

    • Staff
      Jacob | April 9, 2013

      Hi Michelle. Great question. You’ll find that cash advance rates are consistent across providers. Please check our 0% purchase cards page for cards with interest free promotions when you make a purchase and our low interest rate page for credit cards with low purchase rates. It’s also worth comparing your card against cards that do not charge an annual fee. Awesome stuff for keeping on top of your card situation and searching for the best value for money. Jacob.

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    Karen | April 5, 2013

    hi, i have used balance transfers more than once transferring it again once the limited offer has`expired…i have never been late or defaulted or refused credit, however does me taking advantage of these offers affect my credit rating at all in a bad way?

    • Staff
      Jacob | April 5, 2013

      Hi Karen. Thanks for your question. Although the answer is no, it’s a little more complicated. A lender can see each time you apply for credit, it’s registered on your credit file as a ‘credit enquiry’. It’s fine to have an enquiry on your credit file, it’s a sign that your an active participant in the market and that you have a credit history. There are problems start to when you have too many of these in a short space of time. Think about it from a lender’s perspective. If they can see that you have tried to apply for credit, say five times in the past month, it’s a sign that your first attempt at getting credit has been unsuccessful. This will reflect negatively on you. Use your best judgement and common sense and if you have any issues speak to a lender’s representative directly. Hope this helps. Jacob.

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    Deeana | April 3, 2013

    Can I get a balance transfer credit card in Australia to pay off a high interest credit card that I have from nz. I am paying 22 percent int on a nz credit card but I live in oz and would like to pay off and destroy that card.

    • Staff
      Jacob | April 3, 2013

      Hi Deeana. Thanks for the question. Balance transfers to Australian credit cards are only accepted from Australian credit cards. Jacob.

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    William | March 20, 2013

    can i transfer a personal loan balance to another bank card for lower interest rates

    • Staff
      Jacob | March 20, 2013

      Hi William. Citibank accept personal loans through a balance transfer. Other institutions only accept store cards and credit cards. Thanks.

  64. Default Gravatar
    Andy | March 11, 2013

    Hi,
    Could you let me know which cards will allow a transfer for a bank (credit union) personal loan?

    Thanks

    • Staff
      Jacob | March 12, 2013

      Hi Andy. Citibank are one institution that allow the consolidation of other bank’s personal loans. Thanks for your question.

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    Graeme | March 3, 2013

    Can I transfer the balance from a virgin money uk card to an Australian credit card?

    • Staff
      Marc | March 4, 2013

      Hello Graeme,
      thanks for the question!

      Balance transfers are usually only available when transferring a balance from an Australian credit or store card. This page here talks about the various options out there which may be available to pay off an overseas credit card.

      I hope this helps,
      Marc.

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    Karyn | January 23, 2013

    Hi, I am wondering if there are some low rate credit card balance transfer options that have good customer service?
    I applied for Citibank and had a terrible service with their phillipines call centre who don’t listen to anything I try to say. My accountant was on xmas leave so they leave the application sitting there and I can’t be bothered wasting more hours in their call centre.
    Surely other banks can offer better?

    • Staff
      Jacob | January 24, 2013

      Hi Karyn. Thanks for your question. The National Australia Bank have the highest customer satisfaction rating according to Canstar Blue research. The NAB Low Fee Credit Card is NAB’s low fee product.

  67. Default Gravatar
    Sam | December 22, 2012

    Hi,
    THanks for your article! I am curious though, is it possible to do a personal loan balance transfer to a low interest rate credit card? Have you heard of any banks that offer this?
    Best regards,
    Sam

    • Staff
      Jacob | December 25, 2012

      Hi Sam. Thanks for your question.
      There are few institutions that offer this; however, Citibank do say they allow balance transfers from personal loan to credit cards. Their website states:

      ‘What account balances can be included in a Balance Transfer?
      Any account balances from other financial institutions/stores, such as:
      Visa and MasterCard (all banks)
      Most store cards (e.g. David Jones and Myer)
      Personal Loans
      Lines of credit
      The balance must be in the name of the primary account holder.’

      Hope this helps and happy new year.
      Jacob.

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    nancy | December 12, 2012

    will i get charged a fee for paying the full amount owing (on a 0% balance tranfer citibank platinum visa) within 6 months?

    • Staff
      Jacob | December 12, 2012

      Hi Nancy. There is no charge for paying out a balance transfer within the promotional period. Cheers.

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    Adrienne | October 22, 2012

    What would monthly repayments be for a balance transfer of $11,000 on an ANZ Low Rate credit card Master Card?

    • Staff
      Jacob | October 22, 2012

      Hi Adrienne. Thanks for your question. The minimum monthly repayment for the ANZ Low Rate credit card is 2.00% of the total balance. Cheers.

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    Mary | October 12, 2012

    would like to Balance transfer from 2 different credit cards , value of $3.7k. I can only afford $200 repayments. Which will be my best option. Please advice

    • Staff
      Jacob | October 12, 2012

      Hi Mary. The best option for you will depend on your personal circumstances. You will want to check out our balance transfer credit card comparison page and check the offers available there, and then go and work out what your repayments will be using the minimum repayment information and our credit card interest calculator. You will be able to consolidate the debt from multiple credit cards through a balance transfer, but be aware, your new credit limit must be more than the total amount you wish to transfer from the other cards – generally card issuers allow approx. 95% of a cardholders approved credit limit to be used for a balance transfer. Thanks for your question.

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    Tara | October 11, 2012

    If I choose a card with a 0% interest rate for 6 mths and know that my balance won’t be paid off in this time is it possible to then apply with a different provider for another 6 mths interest fee and how likely is it that with a good credit history this will be approved?

    • Staff
      Jacob | October 11, 2012

      Hi Tara. Very difficult questions with lots of ‘ifs’ and ‘buts’. In theory what you’re suggesting can be done and anecdotal evidence has shown us that people have been successful with this before. Some things to be remember: if you’re not approved for a new credit card to balance transfer to, you will be stuck with a balance accruing a extremely high rate of interest, if you’re approved, the credit limit that assigned to your new card must be greater than the amount you wish to transfer. For some information on the credit card application process, check this article on why credit card applications get declined. Thanks.

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    nathan | October 8, 2012

    im looking to balance transfer a personal loan of near $35000 and wonder what company would be able to help with a low balance transfer interest rate for more and 9-12 months

    • Staff
      Jacob | October 8, 2012

      Hi Nathan. For a comparison of the market’s balance transfer credit cards, check our balance transfer comparison page. Alternatively you may be interested in a Citibank credit card – Citibank allow customers to transfer the balance from a personal loan to one of their cards through a balance transfer, but they’re not the only institution that do this, so check the comparison page for further information on available offers. Thanks for your question.

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    michael | September 13, 2012

    Hi, if I transfer 20k from one card to another , do I need to pay minimum payments each month and is the charge of say, 1.9% added monthly to the balance or a straight 1.9% on the transferred amount for the 9/12 months ?

    Thanks.

    • Staff
      Jacob | September 14, 2012

      Hi Michael. Thanks for your question. You will need to make the minimum repayment each month. It can get complicated trying to figure out how card issuers apply their interest charges, but a general rule is that interest is calculated daily, charged annually, but payments are made every month.
      So if you were to bring a balance over to a new credit card and the balance transfer introductory interest rate was 2%. You would have 2% interest charged against the balance you transferred with a minimum monthly repayment applied to the transaction that is attracting the highest interest charge first (purchases or cash advances) if you have any of those charges on your card. If you have bought a balance over to your card and have not used your card to make any other purchases or to withdraw money, then any money you pay on to the card will be subtracted from the amount owing on the balance transfer, but be aware that by only making the minimum repayments, your credit card debt will take years to pay off, if at all. Hope this has helped.

  74. Default Gravatar
    WLetinger | July 25, 2012

    If you meet the T & C’s what would be the reasons why one would be declined a Balance tranfer.

  75. Default Gravatar
    Graeme | July 10, 2012

    Hi, could you explain what 30% monthly repayment is please.

    Cheers Graeme

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    Nick | June 29, 2012

    I looked there and it says HSBC offer credit cards to temporary Residents but when I click on the link to the HSBC card for balance transfers it says not available to temporary residents. Is it that you arent allowed the 0% interest on balance transfers if you are a temporary resident?

    • Staff
      Marc | March 27, 2013

      Hello Nick,
      thanks for the question.

      According to HSBC this card and balance transfer is still available to temporary residents such as 457 visa holders, although there are a few conditions. Firstly the visa needs to be valid for more than a year, secondly they need to have a work contract valid for longer than a year, and finally need to earn over $50,000, or $60,000 for the platinum. Those on a student visa are unfortunately not valid for this card.

      I hope this helps,
      Marc.

  77. Default Gravatar
    Nick | June 28, 2012

    Are there any cards available to temporary residents?

  78. Default Gravatar
    Raj | June 25, 2012

    Hi. I recently applied a credit card and its was declined. Does this effect my credit history. Please let me know.

    Thanks & Regards

  79. Default Gravatar
    Kirk | March 20, 2012

    I recently applied for a Citibank Clear Platinum Credit Card to do a balance transfer. I was informed my application was declined due to an inconsistent payments with a current account I hold with citibank. They informed me I could reapply with them in 6 months. Could I apply for another credit card with a low interest rate on balance transfer with another bank in a months time?

    • Staff
      Jeremy | April 17, 2012

      Hi,

      Thanks for the question. As a rule, lending institutions will not let you perform a balance transfer between their own cards, you will have to take your outstanding balance from Citibank and transfer it to another institution in order to be eligible for the low rate of interest. You will have to consider a non-Citibank lender if you want to perform a balance transfer. Cheers.

      Jeremy

  80. Default Gravatar
    Aki | March 15, 2012

    Hi
    Do i need to disclose amount of balance transfer at the time of credit card application?

    I am planning to make purchase and then transfer balance, but currently don’t have any debt on credit card.

    Thanks

    • Staff
      Jeremy | May 15, 2012

      Hi,

      You have the option of choosing to apply for a balance transfer at the time of application or after the application is complete, this varies between institutions. It’s also worth nothing that the amount you are able to transfer will be between 90-95% of your agreed credit limit. Thanks.

      Cheers
      Jeremy

  81. Default Gravatar
    steven | January 23, 2012

    Hi, I was wondering if you can role the balances of two credit cards into the one balance transfer card such as the Citibank card?
    Thanks

    • Staff
      Jeremy | February 10, 2012

      Hi Steven,

      Thanks for the question. There shouldn’t be any issue transferring the balance from two external accounts over to the Citibank Clear Platinum Credit Card, provided that the amount does not exceed your agreed credit limit. A balance transfer can be performed at the time of application. It is also worth a mention that a cards you do a transfer from, cannot be issued by the same bank you are doing the transfer to. Cheers.

      Jeremy

  82. Default Gravatar
    Lionel | January 8, 2012

    I am looking for a credit card that offers a very low interest balance transfer for the life of the amount transferred.

    Thanks.

    • Staff
      Jeremy | January 11, 2012

      Hi Lionel

      Unfortunately balance transfer for life products are no longer in market. It is possible to do multiple balance transfers to another credit card when a balance transfer period ends.

      Cheers

      Jeremy

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Credit Cards Comparison

Rates last updated August 28th, 2014.
Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
ANZ Low Rate
ANZ Low Rate
A low rate on purchases, balance transfer and a low annual fee. 13.49% p.a. 0% p.a. for 16 months $58 p.a. 21.74% p.a. Go to siteMore info
Westpac 55 Day Platinum Card
Westpac 55 Day Platinum Card
Exclusive Offer to Credit Card Finder. 0% p.a. for 12 months on Purchases
$0 annual fee with platinum benefits including a platinum concierge service, overseas travel insurance, extended warranty cover and purchase security cover.
0% p.a. for 12 months (reverts to 19.84% p.a.) 3.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. 21.29% p.a. Go to siteMore 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 siteMore info
ANZ Frequent Flyer
ANZ Frequent Flyer
Get 50,000 bonus Qantas Points once you spend $1,500 on eligible purchases within 3 months. Earn 1.00 point per $1 spent on your AMEX and 0.50 points per $1 spent on your Visa. 19.99% p.a. $95 p.a. (which includes a $40 annual account fee and a $55 Rewards Program services fee) 21.49% p.a. Go to siteMore info
Coles No Annual Fee MasterCard
Coles No Annual Fee MasterCard
Enjoy a low interest rate plus a $0 annual fee. 17.99% p.a. 0% p.a. for 6 months $0 p.a. 17.99% p.a. Go to siteMore 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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