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24 month 0% balance transfer credit cards

Pay off your debt interest-free for 2 years with one of these 0% balance transfer credit card offers.

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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 option 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.

St.George Credit Card Online Offer

St.George Vertigo Platinum - Online Offer

0% p.a. for 24 months on balance transfers
with a one-time 1% balance transfer fee

Offer ends 30 June 2018

Eligibility criteria, terms and conditions, fees and charges apply

St.George Credit Card Online Offer

A platinum card that features a long-term balance transfer offer, first year annual fee waiver and a low variable interest rate on purchases.

  • $0 p.a. annual fee for the first year ($99 p.a. thereafter).
  • 12.74% p.a. on purchases
  • 0.00% p.a. for 24 months with 1% BT fee on balance transfers
  • Cash advance rate of 19.49% p.a.
  • Up to 55 days interest free
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Compare credit cards with 0% p.a. on balance transfers for 24 months or more

Rates last updated May 25th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits including complimentary insurance, plus first year annual fee waiver and 0% p.a. for 24 months on balance transfers.
Citi Rewards Platinum Credit Card
0% p.a. for 26 months with 2.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus complimentary international travel insurance.
BankSA Vertigo Platinum - Online Offer
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Online only: A low rate platinum card with 0% p.a. on balance transfers for 24 months. Plus, $0 annual fee for the first year.

Compare up to 4 providers

Find out how balance transfers work 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 the standard rate for that card, which can be as high as 22%p.a.

So if you have a lot of debt to pay off, getting a card with an introductory 0% p.a. period of 2 years or more could help you pay off the entire debt before the higher standard interest rate applies. But keep in mind that only your balance transfer debt will be eligible for the introductory 0% p.a. interest rate and any new purchases you make will be charged interest at the standard purchase 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 listed 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.

How to compare credit cards that offer 0% p.a. on balance transfers for 24 months or more

Here are the key details you should consider when you're comparing different balance transfer credit card offers in Australia:

  • Promotional balance transfer rates and fees. Most of these cards offer 0% p.a. for a 24-month introductory period, although some may offer even longer 0% p.a. periods. Depending on the card, you could also pay a one-off balance transfer fee, which is usually around 1% to 2% of the total debt you transfer. If the introductory interest rate is not 0% or if there is a balance transfer fee, you'll need to consider the cost compared to other long-term balance transfer options.
  • Annual fee. Most balance transfer credit cards charge an annual fee. Sometimes this is waived in the first year. Either way, it's important to make sure that the annual fee is affordable based on your debt, repayments and the other features of the card.
  • Standard interest rate. After the introductory period, any remaining balance from your transfer will be charged interest at the standard rate for that card. This could be as high as 22% p.a., so it's important to check what rate will apply if you don't pay off the debt within the introductory period. Also remember that new purchases will be charged interest at the card's purchase rate, which will affect how long it takes to pay off your balance transfer.

How to manage new purchases on a balance transfer card


Pros and cons of a 24-month balance transfer credit card

Pros

  • 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.

Cons

  • 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 need to pay 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.

FAQs about credit cards with 0% p.a. on balance transfers for 24 months or more

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6 Responses

  1. Default Gravatar
    LeanneOctober 4, 2017

    l have $9000 owing on a card with not a great credit rating, lm wondering if this would effect a balance transfer as another step in getting my money under control? l am making my payments but interest just eats it up.

    • Default Gravatar
      GruOctober 5, 2017

      Hello Leanne,

      Thank you for your query.

      Yes, you may apply for another credit card offering balance transfer options.
      In that way, you can pay-off your debt while not being charged additional interest for the duration of he promotional period.

      To give you peace of mind, you may decide to directly contact the provider you have in mind.

      Cheers,
      Gru

  2. Default Gravatar
    sandyJuly 6, 2017

    I have a balance of $16,000 credit card owing. Am I able to transfer into another card at another bank, as my bank don’t do balance transfer? If so what are the criteria?

    • Default Gravatar
      JonathanJuly 9, 2017

      Hello Sandy!

      Thanks for the comment! :)

      You may check this page for our balance transfer cards from different lenders. Basic requirements would be Australian residence, of legal age, good credit standing and meets income requirement (please refer to this page). But this may vary per lender especially the income, so please look for this information immediately upon application.

      Hope this helps.

      Cheers,
      Jonathan

  3. Default Gravatar
    RosNovember 30, 2015

    my partner and I have 3 credit cards between us, we want to combine all 3 into 1 can this be done?

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