November’s best balance transfer credit card offers

Posted: 2 November 2021 11:36 am
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Here's how you can save with 0% interest for up to 36 months with one of these balance transfer offers.

As well as hurting our bank balance, credit card debt can have a bad effect on our physical health. In fact, a new study from the US has found that worrying about unsecured debt (including from credit cards) can lead to poorer health over time.

The research found that debt could lead to more pain and joint stiffness, as well as anxiety and other mental health concerns.

If you're feeling strained by credit card debt, moving it to a card that offers 0% interest on balance transfers gives you a way to save on interest costs – and potentially pay it off faster. So, here's our pick of balance transfer offers you can get in November 2021.

How did we pick this month's line-up?

We selected the November 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 2021.

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: You may not be eligible for a balance transfer offer from your current credit card issuer or bank.)

Best long-term balance transfer offer

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Citi Clear Credit Card - Balance Transfer Offer

  • Balance transfer offer: 0% p.a. for 36 months with no balance transfer fee.
  • Revert rate: 22.24% p.a.
  • Annual fee: $99.
  • Purchase rate: 14.99% p.a.
  • Eligible debts: You can transfer up to 80% of your approved credit limit from credit cards, store cards, lines of credit and personal loans not issued by Citi.

This offer on the Citi Clear Credit Card gives you 36 months to pay off your balance transfer with no interest, making it one of the longest 0% interest offers currently on the market. To put it in perspective, if you transferred a balance to this card in November 2021, you wouldn't have to pay interest on it until November 2024.

As well as transferring credit card balances, you can use this offer to consolidate debt from personal loans or other lines of credit. This sets Citi apart from most credit card issuers in Australia, as they don't usually accept balance transfers from personal loans.

There's no balance transfer fee with this offer, but you will pay a $99 annual fee for each year you have the card – so it's worth looking at how much you could save to decide if this cost is justified for you.

For example, if you transferred a $5,000 balance from a card with the standard average credit card interest rate of 19.94%, you could save $2,069.70 in interest during the introductory period – even with the annual fee.

This calculation is based on Finder's balance transfer calculator, included at the top of the main balance transfer comparison table, so you can use it to see how much you'll save based on your own balance and interest rate details.

The Citi Clear Credit Card also offers a relatively low 14.99% p.a. interest rate for purchases and complimentary insurance options for items you buy with the card. Until 31 January 2022, you can also get cashback when you use the card for Deliveroo orders or Spotify Premium subscriptions.

But you won't get interest-free days on new purchases while you're paying off the balance transfer. And the balance transfer rate goes to a high 22.24% p.a. if you're still paying it off after the first 36 months. So you'll get the most value out of this offer if you focus on paying off your balance transfer before using the card for anything else. You can even use a repayment calculator to see how much you'll need to pay or how long it will take.

To get this offer, you need to apply by 28 April 2022 and request a balance transfer as part of the application or within 90 days from card approval.

Note: We chose the Citi Clear Credit Card for October because it offers value through both a long 0% balance transfer and accepts transfers from personal loans as well as credit cards. But if you only want to transfer credit card debt (or have a card issued by Citi), you could also look at the HSBC Platinum Credit Card, which offers 0% interest on balance transfers for 36 months, no balance transfer fee and a reduced $29 annual fee in the first year (which goes to $129 after that).

Best 0% p.a. balance transfer and $0 annual fee offer

Kogan Money Black Card - Exclusive Offer

  • Balance transfer offer: 0% p.a. for 30 months with no balance transfer fee.
  • Revert rate: 21.74% p.a.
  • Annual fee: $0 (ongoing).
  • Purchase rate: 20.99% p.a.
  • Eligible debts: You can transfer up to 80% of your approved credit limit from credit cards, store cards, personal loans and lines of credit issued in Australia.

This exclusive balance transfer offer on the Kogan Money Black Card gives you 0% interest on balance transfers for 30 months when you apply through Finder by 30 November 2021. It also has no balance transfer fee and an ongoing $0 annual fee.

The Kogan Money Black is another card that gives you a way to transfer balances from Australian personal loans, lines of credit, store cards and other credit cards (it is actually issued by Citigroup, like the Citi Clear Card). If you have debt across a few accounts, this gives you more options for debt consolidation compared to cards that only accept balance transfers from other cards.

If you're interested in this card because you shop at Kogan.com, you could also get a $50 Kogan.com credit with this offer when you spend $1,000 on eligible purchases in the first 60 days. You'll also get complimentary Kogan First Membership and a rewards program.

Just keep in mind that any new purchases will be charged interest straight away, at a high rate of 20.99% p.a., when you have a balance transfer. There's also a 21.74% interest rate for your balance transfer if you're still paying it off after the 30-month promotional period.

This means you'll get the most from this offer when you can pay off the balance transfer within the first 2.5 years you have this card.

Best 0% balance transfer and 0% purchase rate offer

Bankwest Breeze Classic Mastercard

  • Balance transfer offer: 0% p.a. for 15 months with no balance transfer fee.
  • Revert rate: 9.90% p.a.
  • Annual fee: $0 in the first year, then $49.
  • Purchase rate: 0% p.a. for 15 months, then 9.90% p.a.
  • Eligible debts: You can transfer a minimum of $500 from credit cards not issued by Bankwest, with a maximum amount of up to 95% of your approved credit limit.

If you want to pay off debt now but also want a card for Christmas and the holiday season shopping, the Bankwest Breeze Classic Mastercard currently offers 0% interest for 15 months on both balance transfers and purchases.

This offer also has no balance transfer fee and a $0 annual fee in the first year. After that, the card's annual fee is $49, which is relatively low among credit cards in Australia.

The Bankwest Breeze Classic Mastercard also offers an ongoing low interest rate for purchases and expired balance transfers – currently 9.90% p.a. This is close to half of the average standard credit card rate in Australia right now (19.94%), giving you a way to save on interest even after the first 15 months.

The Bankwest Breeze Classic Mastercard also offers a free digital card that you can activate before you get the physical card in the mail. The other features are straightforward, keeping the value focused on low rates and fees rather than perks like rewards.

To get this offer, you'll need to apply as a new customer during the promotional period. And while no end date is listed, the Bankwest Breeze introductory offer is only available for a limited time.

Compare these balance transfer offers side by side

$
% p.a.
Name Product Balance transfer rate Purchase rate Annual fee Amount saved
Citi Clear Card - Balance Transfer Offer
0% p.a. for 36 months
14.99% p.a.
$99
Offers 0% p.a. on balance transfers for 36 months with no balance transfer fee. Plus, complimentary insurance covers.
Kogan Money Black Card - Exclusive Offer
0% p.a. for 30 months
20.99% p.a.
$0
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $50 Kogan.com Credit and uncapped rewards points.
Bankwest Breeze Classic Mastercard
0% p.a. for 15 months
0% p.a. for 15 months, reverts to 9.9% p.a.
$0 annual fee for the first year ($49 p.a. thereafter)
Save with 0% p.a. on purchases and balance transfers for 15 months (with no BT fee). Plus, a $0 first-year annual fee.
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Compare up to 4 providers

Remember: This is a selection of credit cards with competitive balance transfer offers available right now on Finder. You can compare other balance transfer offers here. Looking for a new credit card but don't need a balance transfer? Check out a wider range of credit card offers here.

Images: Finder, Getty Images, Supplied

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