Best Balance Transfer Rates – 0% Interest Credit Cards
Posted July 9th, 2008 and last modified January 25th, 2012The Best 0% Balance Transfer Deals
Compare the best balance transfer credit card offers and save yourself hundreds of dollars in credit card interest repayments.
Featured 0% Balance Transfer Offer
The St George Vertigo MasterCard offers a low rate on balance transfers for 12 months reverting to a low ongoing purchase rate and low annual fee.
- $55 annual fee
- 13.24% p.a. on purchases
- 0.99% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- 55 days interest free
- Minimum Income Requirement of $15,000 p.a.
Smart shopping for 0% annual percentage rate (APR) credit cards can save consumers hundreds of dollars in interest charges. Many consumers do not think to shop around for credit cards. With half of Australian grocery store purchases being made with credit cards, the decision as to which card the consumer uses 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% APR credit card to transfer existing balances to. The concept of shopping for the best interest rates is not new for homes and cars, yet so few consumers stop to think about shopping around for the best credit card deal.
You can’t really go much lower than paying 0% p.a. interest – which is very much possible if you undergo a balance transfer with your credit card(s).
Saving Money with 0% Interest Balance Transfer Credit Cards
It is possible for you to save hundreds of dollars a year by transferring balances to a 0% interest credit card. Here is how it works: A consumer applies for a new credit card with a special introductory interest rate of 0% interest for balance transfers. After gaining approval, the consumer transfers the balance of his or her credit cards to the new card.
In Australia, it’s standard to exclude a balance transfer fee. However, accessing a balance transfer will require applying for a new credit card, which means you will need to pay the annual fee upfront. If you put this in to perspective, you’re paying $40-80 for the fee, but the potential savings from a balance transfer can exceed this.
Best Balance Transfer Offers for 6 to 9 months
If you are seeking a short term balance transfer option a 0% balance transfer is an attractive option, giving you relief from your credit card interest repayments.
Note that balance transfers require a good credit rating for most application approvals.
Best Long Term Balance Transfer Offers
For longer term balance transfer credit cards, consider the below offers. Note that to be approved for balance transfer offers, you need good credit and good proof of income.
More Balance Transfer Information
Calculating and Comparing
Consumers receive the information they need to help them decide on the credit card balance transfer offer that works best for them. Objective side-by-side comparisons allow a more complete picture of available credit cards. When you find a card you like, it is also possible to apply for that card instantly from the web site. Credit Card Finder® specializes in comparing credit cards available for online application.
A 0% APR credit card balance transfer is a financial tool that can greatly benefit consumers. However, as with all financial tools, it is important to use it wisely. 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.
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.
Featured 0% Balance Transfer Offer
The St George Vertigo MasterCard offers a 0.99% rate on balance transfers for 12 months along with a low ongoing purchase rate and low annual fee.
- $55 annual fee
- 13.24% p.a. on purchases
- 0.99% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- 55 days interest free
Read the Bank of Melbourne Vertigo Credit Card terms and conditions.
Find out what exactly a balance transfer is. More specific information about the balance transfer process and traps to avoid.
Australian Balance Transfer Calculator
Calculate how much you could potentially save by undertaking a credit card balance transfer.
FREE BONUS: Download a copy of our just released e-book: The Ultimate Guide to Balance Transfers
* 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. ‘Best’ and ‘Top’ are ratings which are subject to our consideration and are not rated against all Australian credit cards. You should consider seeking independent financial advice and your own personal financial circumstances when comparing cards.
Check out today's featured offers:
| Citibank Clear Platinum | Qantas AMEX Discovery | ANZ Platinum | Westpac Low Rate |
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2.9% p.a. for 12 months |
$0 annual fee Up to 10,000 Bonus QFF Points |
0% p.a. for 6 months on purchases & balance transfers |
0% p.a. for 6 months on purchases & balance transfers |
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I am looking for a credit card that offers a very low interest balance transfer for the life of the amount transferred.
Thanks.
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