Best balance transfer credit cards August 2017

Sally McMullen 1 August 2017

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Clear your credit card debt without additional interest, balance transfer charges or high annual fees.

It’s time to cast our attention to the balance transfer offers we can look forward to in August. If you’re struggling to repay your credit card debt, it might be time to consider a 0% balance transfer credit card.

As there are many interest-free balance transfer offers on the market, we’ve highlighted some of the most competitive offers available through finder, based on the length of the promotional offer and associated fees. The longer the offer, the more time you have to pay off your debt. You'll notice that all of the cards have relatively low annual fees and no balance transfer fees.

While there is no single best balance transfer on the market that will suit everyone, this month’s roundup should help narrow down your search.

NAB Premium Card (Exclusive offer)nab-premium

0% for 24 months with no balance transfer fee

The NAB Premium Card currently boasts the longest balance transfer offer on the market. With 0% on balance transfers for 24 months, you’ll have two years to clear your debt without additional interest costs. Unlike many current offers, this card also doesn’t charge a balance transfer fee. As these are usually 2% to 3% of your transfer amount, assuming a $10,000 transfer, this could save you around $250.

The card also has a relatively low annual fee of $90 p.a.. (You don't want the annual fee to swallow up any potential interest savings.)

This NAB Premium offer is exclusive through finder.com.au for new applicants who apply and are approved by 31 August 2017. So, you won’t be able to take advantage of this offer unless you meet the eligibility requirements and apply through finder by the offer end date.

Once the 24 months offer ends, any remaining debts will collect the standard cash advance rate of 21.74% p.a. Many balance transfer offers revert to the cash advance rate, so it’s important that you aim to repay your entire debt before it applies to keep your interest costs to a minimum.

As well as the exclusive balance transfer offer, cardholders can also look forward to complimentary international travel insurance, the NAB concierge service and the convenience of Visa.

St.George Vertigo Platinumstg-vertigo-platinum

0% for 20 months with no balance transfer fee

The St.George Vertigo Platinum card is another competitive offer that doesn’t charge a balance transfer fee. If you don’t quite need two years to clear your debt, you could benefit from 0% on balance transfers for 20 months if you apply by 20 September 2017. At the end of the promotional period, remaining balances will collect the standard purchase rate of 12.74% p.a.

While this card has a shorter balance transfer period, it does have the advantage of a lower revert rate which could come in handy if you don’t manage to repay your entire debt before the promotion ends. This card has a slightly higher annual fee of $99 p.a.

Cardholders can take advantage of complimentary insurances for overseas travel, domestic flights and purchases. The card also comes with a personal concierge service and up to 55 interest-free days, which could be useful if you use the card beyond the balance transfer offer.

Woolworths Everyday Platinum credit cardwoolworths-plat250x158

0% for 14 months with no balance transfer fee

The Woolworths Everyday Platinum credit card offers no interest on balance transfers for 14 months with no balance transfer fee. This offer is available to new applicants who apply by 30 September 2017. At the end of the promotional period, any debt remaining from your balance transfer will accrue the standard cash advance rate of 21.99% p.a.

You can cut costs even further with no annual fee for the first year. This reverts to $49 p.a. thereafter, which is still easily the lowest annual fee in this month’s roundup.

If you plan to use this card for purchases once you’ve consolidated your debt, you can also look forward to earning Woolworths Rewards points as you spend, a 24/7 platinum concierge service and up to 55 interest-free days on purchases. As this card is designed to benefit Woolworths customers, you could also benefit from discounts, a $100 Woolworths eGift card and cashback as Woolworths shopping cards when you meet the eligibility requirements.

ANZ Platinum credit card (Exclusive offer)anz-plat250x158

0% for 12 months with no balance transfer fee

Do you want to clear your debt without interest or an annual fee? The ANZ Platinum credit card could meet both of those requirements if you pay off your balance within the first year. This card offers 0% on balance transfers for 12 months with no balance transfer fee. After the first year, any leftover debts will be charged 21.49% p.a. interest.

This card also has a $0 annual fee for the first year. This reverts to $87 p.a., which is also marginally lower than some of the other annual fees in this roundup. But if you only use the card to repay your balance and close the account before the annual fee applies, you could consolidate your entire debt without any extra costs.

As a platinum credit card, this card also offers complimentary travel and purchase insurances, digital wallet functionality with Apple Pay, Samsung Pay and Android Pay, plus up to 55 interest-free days on purchases. These perks could prove useful if you’re planning to use the card after the balance transfer offer finishes.

This is another exclusive offer, so you’ll only enjoy this combination of perks if you apply through the finder website.

How do these balance transfer offers compare?

Rates last updated February 26th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
NAB Premium Card - Exclusive Offer
0% p.a. for 25 months
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au, enjoy a 0% BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
Woolworths Everyday Platinum Credit Card
0% p.a. for 14 months
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.

Compare up to 4 providers

Although all of these cards offer promotional 0% balance transfers with no balance transfer fees, there are a few factors that can help you compare your options.

Length of the offer and revert rate

Within this month's balance transfer roundup, the offers vary from 12 to 24 months. Consider the size of your debt and divide it by the number of months in the 0% promotion. So, let's say you have a debt of $5,000. If you were to consider the ANZ Platinum credit card, you'd need to divide $5,000 by 12 to determine that you'd need to pay approximately $417 each month to clear your entire debt before the introductory offer finished and the revert rate applied. If you don't think you can afford the necessary repayments, you might want to consider a card with a longer interest-free period.

If you don't think you can clear your debt within 24 months, you might want to calculate how long you think it'll take you to repay your debt based on what you can afford and look for a card with a low revert rate that can help reduce your interest costs.

Annual fee

You should always make sure that the annual fee doesn't outweigh the interest savings you'll receive from the interest-free offer. Even if a card has $0 annual fee for the first year, make sure to account for the standard annual fee in case the 0% balance transfer offer is longer than a year.

Extra features

Ideally you shouldn't be using your credit card for anything but paying down your debt while taking advantage of a 0% balance transfer offer. However, if you need to make emergency purchases or plan to use the card after the balance transfer period has finished, you might want to consider additional features including complimentary insurances, rewards and concierge services. These extra perks can also help you get more value from your card.


While these are some of the most competitive 0% balance transfer credit cards available through finder that have no balance transfer fee and low annual fees, you should still compare other options before applying. You can use our balance transfer credit cards guide to compare more options and find the right card for you.

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