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Best balance transfer credit cards April 2017

Sally McMullen 31 March 2017

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Clear your debt without forking out any additional costs with 0% balance transfer credit cards that don't charge balance transfer fees.

The average Australian has a credit card debt $3,083, $1,969 of which is collecting interest. Given that credit cards have standard interest rates between 11% and 22%, it’s no wonder that many Aussies struggle to repay their debts. Each month, we do a roundup of the most competitive 0% balance transfer offers on the market to help cardholders get their finances in control.

The best balance transfer credit card for you will depend on your debt and financial needs. This month we’ve rounded up our top four based on the cards with the longest 0% balance transfer periods with no balance transfer fee. The balance transfer fee is 2% to 3% of your total balance and is charged when you move your debt across to the new card. Using a card with no balance transfer fee can help keep your card costs to a minimum when you're consolidating your debt.

With March coming to a close, use this guide to discover some of the most competitive 0% balance transfer offers on the market for April and discover how they compare to one another.

Virgin Australia Velocity Flyer Cardvirgin-money-flyer-card210x130

Frequent flyer credit cards aren’t usually known for debt consolidation, but the Virgin Australia Velocity Flyer Card offers one of the most valuable 0% balance transfer promotions on the market. The card boasts 0% on balance transfers for the first 18 months, making it one of the longest interest-free balance transfer offers on the market and the longest for a card with no balance transfer fee. This reverts to the cash advance rate of 20.99% p.a. once the promotion finishes, though. The card also has a reduced annual fee of $64 p.a. for the first year and $129 p.a. thereafter.

While the card comes with a Velocity frequent flyer program that rewards cardholders as they spend, it’s obviously wise to avoid using the card for purchases until you’ve repaid your debt. Plus, the card has a relatively high standard purchase rate of 20.74% p.a., so it could be an easy way to fall into debt again if you make purchases and struggle to repay your balance in full.

This offer is only available to applicants who apply and are approved by 15 June 2017.

HSBC Platinum credit cardhsbc-plat210x131

The HSBC Platinum credit card comes with 0% on balance transfers for 15 months. The offer comes with no balance transfer fee and is available to applicants who apply and are approved by 30 June 2017. While you’ll have a year and three months to take advantage of the interest-free offer, any remaining debts will collect the standard cash advance rate of 21.99% p.a. once the promotion ends. The card also comes with an annual fee of $149 p.a. and a standard purchase rate of 19.99% p.a.

This card also comes linked with the NAB Rewards program, which definitely attributes to the high annual fee. As you shouldn’t be making purchases to earn rewards while you’re concentrating on paying down your debt, you’ll need to ensure that the interest savings outweigh the cost of the annual fee to justify applying for this card.

St.George Vertigo Visastg-vertigo210x134

The St.George Vertigo Visa offers cardholders 0% on balance transfers for the first 12 months. Plus, if you also want to use your card for emergency purchases, you can also save with 0% on purchases for the first 6 months. Both offers are only available for cardholders who apply and are approved by 1 May 2017. The card also comes with a competitive annual fee of $55 p.a. and a relatively low revert rate of 13.24% p.a. once the promotions end. Like the other cards in this roundup, you also won’t have to pay a balance transfer fee when you move your debt to the new card. This card doesn’t come with access to a rewards program, which is a positive if you want to avoid any additional temptations to spend.

ANZ Platinum credit cardanz-platinum-card210x127

Similar to the St.George Vertigo Visa, the ANZ Platinum credit card also comes with a 0% on balance transfers for the first 12 months. However, the differences between the cards are in the details. With no balance transfer fee, the promotional offer reverts to 21.49% p.a. after the 12 month period. The card offers additional savings by the way of $0 annual fee for the first year, which reverts to $87 p.a. thereafter. If you’re only using the card for the 12-month balance transfer, though, you could essentially repay your debt without any additional rates or fees if you clear the balance before the promotion ends. This platinum piece of plastic also comes with 0% on purchases for 3 months, meaning you can make those necessary purchases without collecting any interest. The card also comes with up to 55 interest-free days and complimentary insurances, although these will only come in real use once you’ve repaid your debt.

This offer is exclusive to applicants who apply to finder.com.au, so click on the "go to site" button on the review to be directed to a secure online application.

How do these 0% balance transfer credit cards compare?

While each of the cards has their own perks and downfalls, how do they compare when we put them head to head?

Rates last updated July 26th, 2017
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% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
Virgin Australia Velocity Flyer Card - Exclusive Offer
Apply by 31 July 2017 to earn bonus Velocity Points for the first three months and a $129 Virgin Australia Gift Voucher each year.
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
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
0% p.a. for 22 months with 2% balance transfer fee 19.99% p.a. $99 p.a. Go to site More info
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
0% p.a. for 14 months 13.24% p.a. $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
0% p.a. for 12 months 0% p.a. for 3 months (reverts to 19.74% p.a.) $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info

Which card is right for you will depend on your debt and financial situation. For example, if you have a large debt to repay and need more breathing room to clear it without collecting interest, either the 0% for 18 months with the Virgin Australia Velocity Flyer or 0% for 15 months with the HSBC Platinum credit card would be best. However, if you don’t think you can repay your entire balance within the promotional period, you might be better off looking at a card like the St.George Vertigo Visa which has the lowest revert rate of 13.24% p.a. If you only have a small debt which you think you can repay in 12 months, then you’d be better off going with the ANZ Platinum credit card as it has $0 annual fee for the first year, meaning you could avoid both interest and fees while you dedicate your funds to repaying your debt.

These are some of the most competitive 0% balance transfer offers with no balance transfer fee, but it’s still wise to conduct a broader comparison. You can weigh up all of your interest-free balance transfer options using our comprehensive 0% balance transfer credit card guide.


Our best balance transfer credit cards roundup is a monthly regular that lists and compares current balance transfer promotions on the market. Check back in the first week of every month for the latest deals and the most competitive ways to consolidate your debts. The rates, fees and features mentioned are correct at the time of writing.

Picture: Shutterstock

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