If you're struggling to pay off credit card debt, moving the balance to a card that offer 0% p.a. interest for 24 months or more could help you save on interest charges and pay it off faster.
Use this guide to compare balance transfer credit cards that offer 0% p.a. for 2 years or more and learn how this process works. You can also see how much you could save on interest charges by entering the amount of debt you want to transfer and your current interest rate at the top of the comparison table.
0% p.a. for 26 months on balance transfers
with a one-time 1.5% balance transfer fee
Offer ends 30 November 2019
Eligibility criteria, terms and conditions, fees and charges apply
Citi Credit Card Offer
Save with a $0 first year annual fee and long-term balance transfer. Plus, complimentary travel and purchase insurance covers.
- 0% p.a. for 26 months on balance transfers, with a 1.5% balance transfer fee
- $0 first year annual fee ($199 p.a. thereafter)
- Purchase interest rate of 21.49% p.a. | Cash advance rate of 22.24% p.a.
- Earn 1 Citi reward Point per $1 spent
Compare credit cards with 0% p.a. on balance transfers for 24 months or more
Rates last updated November 15th, 2019
Balance transfers explained in 60 seconds
What is a 24-month balance transfer credit card?
These cards let you transfer a balance from an existing credit card (or cards) to a new card with a long, introductory 0% p.a. interest rate. At the end of the introductory period, any unpaid debt from the balance transfer is charged interest at a higher, standard rate.
Making payments on a balance transfer credit card
Even if a balance transfer credit card offers 0% p.a. interest, you'll still need to pay at least the minimum amount posted on your statement by the due date. If you want to pay off your debt before the introductory period ends, you'll also need to pay more than the minimum amount each month.
Pros and cons of a 24-month balance transfer credit card
- Save on interest. The savings you'll make from paying no interest for 24 months or more can help you pay off your debt faster.
- Long repayment period. Balance transfers generally last between 6 and 24 months, so this is one of the longest repayment period available for low balance transfer offers. As long as you understand how much you need to repay each month, it should be a generous time frame to repay any existing loans before the interest applies.
- Standard rate applies to new purchases. Avoid buying new items using this credit card because the standard rate applies. As your repayments go to the debt that's collecting the highest interest, you’ll be paying the interest for new purchases first. As interest-free days only apply if you're not carrying a balance, you won't be able to take advantage of these until you've completely repaid your debt.
- High revert rates. The low or 0% interest rate is only in place for the introductory period, after which a much higher interest rate applies to any remaining balances.
What if I can pay off my credit card debt in less than 24 months?
If you've worked out that you can pay off your debt in less time, a balance transfer credit card that offers 0% p.a. for 24 months could give you a buffer in case unexpected costs arise. You may also want to compare other balance transfer cards with different features – such as no annual fee or one that also offers a 0% p.a. introductory purchase rate – so that you can find a card that offers the most value for your circumstances and goals.
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