Best Balance Transfer Rates* – 0% Interest Credit Cards

Information verified correct on September 27th, 2016

Got existing credit card debt? Get 0% interest for up to 20 months and save money with balance transfer credit cards

Interest free balance transfer credit cards allow you to transfer your existing credit card debt to a new credit card and pay 0% interest for a specified promotional period. Compare balance transfer offers here and pay less interest on your credit card debt today.

St.George Vertigo Visa

Long Term 0% Balance Transfer Offer

A long term balance transfer offer with a low annual fee.

  • $55 p.a. annual fee
  • 1% p.a. for 12 months (reverts to 13.24% p.a.) on purchases
  • 0% p.a. for 18 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 September 27th, 2016
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% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
Westpac 55 Day credit card
Enjoy a balance transfer offer of 0% p.a. for 16 months, an introductory purchase rate of 1% p.a. for up to 12 months, plus a waived annual fee for the first year if applied by 11 October 2016.
0% p.a. for 16 months 1% p.a. for 12 months (reverts to 19.84% p.a.) $0 p.a. annual fee for the first year ($30 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
0% p.a. for 15 months 19.99% p.a. $149 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
0% p.a. for 18 months 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 20 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
0% p.a. for 20 months 1% p.a. for 12 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
Westpac Low Rate Card
A no frills credit card with an introductory rate of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.49% p.a.) $59 p.a. Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Exclusive Offer to finder.com.au

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

0% p.a. for 12 months 0% p.a. for 3 months (reverts to 19.74% p.a.) $30 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months with a one off 2% balance transfer fee 0% p.a. for 15 months (reverts to 13.99% p.a.) $59 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. Also enjoy a 0% p.a. balance transfer rate for 12 months.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
NAB Low Fee Card
Enjoy a low introductory rate of 0% p.a. on balance transfers and purchases for 15 months.
0% p.a. for 15 months with a one off 2% balance transfer fee 0% p.a. for 15 months (reverts to 19.74% p.a.) $30 p.a. Go to site More info
Virgin No Annual Fee Credit Card
No annual fee for the life of the card with $100 cashback and a 0% p.a. offer on balance transfers for 18 months. Spend criteria applies for cashback offer.
0% p.a. for 18 months with 2% balance transfer fee 18.99% p.a. $0 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 18 months and 1% p.a. for 12 months on purchases.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
BankSA Vertigo Visa
A low interest rate card with a low annual fee, a long term balance transfer offer and an introductory offer of 1% p.a. for 12 months on purchases.
0% p.a. for 18 months 1% p.a. for 12 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info

The finder.com.au list of best* 0 balance transfer credit cards

Compare the features of the balance transfer cards below.

Credit Card
Feature
Virgin Australia Velocity Flyer Card – Balance Transfer OfferGet a 0% p.a. for 18 month balance transfer offer with half price annual fee for the first year
HSBC Platinum Credit CardA balance transfer credit card that offers all the perks of platinum.
NAB Low Rate Credit CardA low interest rate card with a 0% p.a. for 15 months balance transfer offer
St.George Vertigo VisaA low annual fee credit card with 0% p.a. for 18 month balance transfer

How does an interest free balance transfer work?

Balance transfer credit cards let you transfer your credit card debt to a new credit card with a lower interest rate. It is possible for you to save hundreds of dollars a year by transferring balances to a 0% balance transfer credit card. Balance transfers are usually requested during the online application. After your application has been approved and you have activated your credit card, your new bank will initiate the balance transfer process by requesting the outstanding amount from your old bank. This process usually takes one or two weeks.

Key considerations to find the best* 0 balance transfer credit card for your needs

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.

  • Decide how long you need to repay your existing credit card debt. Balance transfer credit cards offer 0% from 6 months up to 18 months. A longer balance transfer may provide you with more financial flexibility.
  • Know which banks you can transfer to. You can balance transfer to any banks/ credit cards, except credit cards from the same bank or credit provider.
  • Fees. Are there any balance transfer fees or annual fees? Balance transfer fees are typically 2% of the entire balance transfer amount. Along with an annual fee, these amounts could add a substantial portion to your existing credit card debt. Make sure you compare cards carefully using our reviews and read the terms and conditions before applying. You can also compare cards with no annual fee and 0% balance transfers.
  • What else are you looking for in a credit card? Credit cards can provide a range of extra perks and benefits, including frequent flyer points per $1 spent, complimentary travel insurance and rewards programs.

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!

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. Because each credit inquiry/ application is recorded on your credit file, frequent applications may result in your next request being rejected. It is recommended to leave at least 6 months between applications.
  • 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 so you repay your debt before the promotion ends.
  • 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.
    If you need to make purchases whilst repaying your debt then compare these types of credit cards.

Use the Balance Transfer Calculator in 4 easy steps and find out 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

Frequently asked questions about 0% balance transfers

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 repaying my 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 repaying your debt at a lower interest rate you could save hundreds or thousands of dollars in interest.

Do I have to pay a balance transfer fee?

Balance transfer fees are typically included with longer term balance transfer offers and are usually a fixed percentage of the entire balance transfer amount.

What’s the maximum I can balance transfer?

This is usually set at 85-90% of the credit limit you’re approved for.

What happens to my old credit card when I've completed the balance transfer?

Your old credit card will remain active even when your balance has been transferred. You can either continue using it or request your bank to cancel the card.

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

  1. Default Gravatar
    Hollie | August 29, 2016

    Can I balance transfer from a Uk credit card to an Australian one?

    • Staff
      Anndy | August 29, 2016

      Hi Hollie,

      Thanks for your question.

      Generally, Australian banks only accept balance transfer from another Australian store or credit card.

      If you are looking to pay off an overseas credit card, there are different means to do it as featured on this page.

      Cheers,
      Anndy

  2. Default Gravatar
    Ermanno | August 24, 2016

    can I balance transfer from my NAB credit card to a BOM vertigo card which I also have; in other words can I use the promotional balance transfer to consolidate the debt into my BOM vertigo card if I am already a customer of BOM. In other words I am not applying for a new credit card with BOM just consolidating the debt into the existing BOM card.

    • Staff
      Anndy | August 25, 2016

      Hi Ermanno,

      Thanks for your question.

      BoM allows you to transfer a balance at the promotional rate of interest provided that you made a request within ten to fourteen days after you applied for the card, otherwise, you won’t be able to take advantage of the promotional balance transfer offer when you move your credit card balance.

      To apply for a balance transfer, you’ll just need to submit a balance transfer request form which can be downloaded online, to the bank. You may also make a request via the secure Bank of Melbourne online banking website.

      Cheers,
      Anndy

  3. Default Gravatar
    Ethan | July 4, 2016

    I have a credit card debt of 12 000 which 0 interest balance card would you recommend I use to begin to tackle this debt.

    • Staff
      Anndy | July 4, 2016

      Hi Ethan,

      Thanks for your comment.

      Please note that finder.com.au is a financial comparison and information service. As such, we are unable to recommend any credit card product to our clients.

      One way to compare your credit card options in the above page is to compute the interest saved per credit card. You can do this by putting the transfer amount and current interest rate on our calculator and pressing “Calculate” You can then check the last column of our table for the “interest saved” per credit card brand.

      If you have further questions, feel free to let us know.

      Cheers,
      Anndy

  4. Default Gravatar
    Noreen | May 18, 2016

    My question is I have a C/Card with credit of 9K and paying 13.99% interest. I have 6.7K left to pay of this. If I was to go for a credit balance transfer, does the new bank payout the old credit balance?

    • Staff
      May | May 18, 2016

      Hi Noreen,

      Thanks for you inquiry.

      With the balance transfer, the logic is these credit card institutions will ‘buy’ credit card debt and ‘resell’ it to a customer at a low rate of interest. So when you apply for a new credit card and get approved, once you do a balance transfer, you’ll have the opportunity to pay down your credit card debt at a lower interest rate or sometimes, at 0% interest rate for a promo period.

      Please refer to this page to know more about what and how balance transfer works.

      I hope this answers your question.

      Cheers,
      May

  5. Default Gravatar
    Sarina | April 30, 2016

    I have an outstanding balance on my citibank credit card approx 1500 would like to balance transfer from another credit card balance of 2800. My credit limit if $5000. What is the best rate citibank can offer.

    • Staff
      Ysa | May 3, 2016

      Hi Sarina,

      Thanks for your question.

      As a financial comparison service, we can’t provide specific feedback or advice regarding the best rates, as the ‘best’ option will always depend on your unique financial needs and situation.

      However, you may wish to check our provider page for a list and comparison of balance transfer credit cards from Citibank.

      You might also like to utilise our balance transfer calculator to find out how much you can save from a balance transfer credit card.

      I hope this helps.

      Cheers,
      Ysa

  6. Default Gravatar
    said | April 20, 2016

    hi Sharon,
    thanks for your quick response. the reason I would like to keep my old card is that they do not charge fees for foreign purchases when I travel. are there banks with this credit card facility?

    thanks and regards,
    Said

  7. Default Gravatar
    said | April 20, 2016

    can I still keep my current credit card after transfer to new card?

    • Staff
      Sharon | April 20, 2016

      Hi Said, thanks for you question.

      Although it’s tempting to hang on to your old card for emergency purposes, realistically, if you’ve run up debt on it before, there is a possibility that it will happen again. Cancelling the card would be a better option so that you can concentrate on paying off your balance. Remember to transfer any regular payments and ask your old bank for the final payout figure so you don’t have any leftover debt.

      I hope this has answered your question.

      Sharon

  8. Default Gravatar
    Ben | March 23, 2016

    I am an existing BankSA (Vertigo MasterCard) customer. Am i still eligible to apply for the St George Vertigo offer? Thanks.

    • Staff
      Sharon | March 24, 2016

      Hi Ben, thanks for your questions.

      While some of the offers on this card will be available once you get approved, you can’t balance transfer between BankSa and St.George accounts. As such, you’ll be unable to take advantage of the promotional balance transfer rate if you’re hoping to transfer your balances. Balance transfer request will only be accepted if it’s from up to 4 non-St.George, Bank of Melbourne and BankSA Australian issued credit, charge or store cards.

      I hope this helps.

      Sharon

  9. Default Gravatar
    Dianne | March 19, 2016

    Can my partner get a credit card and do a balance transfer of my credit debt to his card?

    • Staff
      Ysa | March 20, 2016

      Hi Dianne,

      Thanks for your question.

      Yes, it is possible to make a balance transfer from your partner’s credit card.
      However, please note that not all credit card issuers allow this feature. Please read through our Can I Balance Transfer a Credit Card from my Partner? page for a list of banks which offer joint balance transfers and other frequently asked questions.

      I hope this has helped.

      Cheers,
      Ysa

  10. Default Gravatar
    donna | March 6, 2016

    i have a credit card platinum with a very high interest rate and am over the limit reading all the information regarding balance transfers gets very overwhelming. Enquiring if you could help with advice.at present i have limit of 10,000 and over by 652dollars.they are charging me for purchases which i cant understand because i am not using it because of the fact that it is over.at the moment i am not very happy with this financial institution because of there tactics of harrassment.and the fact that i am doing my best to pay only the minimum of per month,need to ease this burden over my head as i have never been in these circumstances before.
    Regards donna

    • Staff
      Jonathan | March 8, 2016

      Hi Donna, thanks for your inquiry!

      Balance transfer credit cards let you transfer your existing debt to a new card. New credit cards provide you with a ‘credit limit’ which is how much they are letting you borrow. The bank will let you use around 95% of the credit limit amount for your balance transfers, so you will need a credit limit of at least $11,000. If you are looking to lodge a dispute with your financial institution it would be best to contact the Financial Ombudsman Service of Australia. I have sent the link for this service to your email.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated September 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* 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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