November’s best balance transfer credit card offers: Cut your debt with 0% deals
Get your credit card debt sorted before the holiday season and save on interest for up to 30 months with one of these credit card offers.
As more coronavirus restrictions ease and Australia opens up, plenty of us are making plans for the holiday season. November is usually when shops go all out with Christmas decorations, and it's also host to two major shopping events that lead into Christmas: Black Friday (28 November 2020) and Cyber Monday (30 November 2020).
If you already owe money on a credit card, getting a balance transfer now could help you save on interest charges and cut down the risk of a debt spiral towards the end of the year. Here's our pick of balance transfer deals that can help you do this right now.
How did we pick this month's line-up?
We selected November's line-up based on the length of the 0% p.a. balance transfer period, the annual fee and other valuable features on credit cards offered through Finder in November 2020.
A good balance transfer deal has a lengthy 0% p.a. interest offer, no balance transfer fee and a low or $0 annual fee. We've picked cards available through Finder with the longest 0% period and then weighed up their other features. There's no one best credit card for everyone, so check details that matter to you. (And remember: if you already have a card with a bank, you may not be eligible for a BT offer from that bank.)
Best long-term balance transfer offer
Citi Rewards – Exclusive offer
- Balance transfer offer: 0% p.a. for 30 months with no balance transfer fee.
- Revert rate: 22.24% p.a.
- Annual fee: $49 in the first year ($149 after that).
- Purchase rate: 21.49% p.a.
- Eligible debts: You can transfer a minimum of $500 from credit cards, store cards and personal loans not issued by Citi, with a maximum value up to 80% of your approved credit limit.
This is one of the longest 0% p.a. balance transfer offers without a balance transfer fee that's currently on the market, giving you 30 months to repay what you owe interest-free when you apply through Finder by 16 November 2020. Citi is also one of the few credit card companies that accept balance transfers from both cards and personal loans (as long as the debts are not held in Citi-issued accounts).
With the current offer, you'll also save with a reduced annual fee of $49 in the first year, which is $100 less than what you'll pay from the second year onwards ($149). You should factor this cost – and the 22.24% balance transfer revert rate – in when you're working out your potential savings and repayments.
Best 0% p.a. balance transfer and $0 annual fee offer
Coles No Annual Fee
- Balance transfer offer: 0% p.a. for 12 months with no balance transfer fee.
- Revert rate: 19.99% p.a.
- Annual fee: $0
- Purchase rate: 0% p.a. for the first 12 months, then 19.99% p.a. variable.
- Eligible debts: You can transfer a minimum of $500 from credit cards, store cards, personal loans or lines of credit that are not issued by Citigroup, with a maximum value up to 80% of your approved credit limit.
The Coles No Annual Fee credit card offers you 0% p.a. for 12 months on both balance transfers and purchases. And, unlike cards that offer waived or reduced annual fees in the first year, you won't ever have to think about paying an annual fee for this card.
Both the 0% interest rate offers revert to 19.99% p.a. after the first 12 months, which is high compared to some other cards. If you want to make the most of this interest-free offer, you could set a reminder in your calendar and plan repayments with a goal of getting your account balance to $0 before the honeymoon period is over.
Best 0% balance transfer and 0% purchase rate offer
St.George Vertigo Classic
- Balance transfer offer: 0% p.a. for 22 months with a 1.5% balance transfer fee.
- Revert rate: 21.49% p.a.
- Annual fee: $0 in the first year ($55 after that).
- Purchase rate: 0% p.a. for the first 7 months, then 13.99% p.a. variable.
- Eligible debts: You can transfer a minimum of $200 from up to 3 credit cards, store cards or charge cards not issued by St.George, Bank of Melbourne or BankSA, with a maximum value up to 80% of your approved credit limit.
If you want to pay off your debt but also need to make new purchases, this low rate card from St.George offers an introductory 0% p.a. interest rate on balance transfers for 22 months and 0% p.a. on purchases for 7 months. To get these 0% introductory rates, you'll need to apply by 9 February 2021 and request your balance transfer as part of the application.
This offer also gives you a $0 annual fee in the first year, which reverts to $55 after that. But as the introductory purchase rate offer is much shorter than the balance transfer offer, you should try to pay off all your new purchases within seven months of getting the card. That will help you avoid interest so you can focus on paying off your balance transfer debt while it's still interest-free.
Compare these balance transfer offers side by side
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Remember: this is a selection of credit cards with competitive balance transfer offers available right now on Finder. Want to compare more cards? Check out other balance transfer offers here.