Best Balance Transfer Rates* – 0% Interest Credit Cards

Get 0% interest for up to 30 months and save money with balance transfer credit cards.

If you want to clear your credit card debt quicker and cheaper, it might be time to consider a 0% balance transfer credit card. Although some balance transfers come with low interest rates, most balance transfers offer 0% interest rates these days. So, you can use these cards to transfer your existing credit card debt to a new credit card and pay 0% interest for a promotional period. You can use this guide to compare the latest 0% balance transfer deals, discover how to pick the right offer for you and learn the mistakes to avoid when you do a balance transfer.

0% Balance Transfer Credit Cards Comparison

Rates last updated April 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 Low Fee Platinum Card - Exclusive Offer
0% p.a. for 25 months
19.74% p.a.
$90 p.a.
Ends 6 May 2018.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000. Plus, complimentary travel insurance.
Westpac Low Rate Card
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Offers a 0% for 24 month balance transfer option, up to 55 days interest-free on purchases and a competitve 13.49% p.a. purchase interest rate.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a discounted annual fee, $100 cashback when you meet the spend requirement and up to 14 months on balance transfers. Ends 30 June 2018.
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$99 p.a.
Platinum card benefits including complimentary insurance, plus 0% p.a. for 24 months on balance transfers (with no BT fee). Ends 30 April 2018.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
A competitive offer from HSBC featuring a long term balance transfer deal and low ongoing interest rate on purchases.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months and enjoy a discounted annual fee of $64 for the first year. Ends 30 June 2018.
St.George Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
Citi Simplicity Card
0% p.a. for 15 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points. Ends 30 June 2018.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
St.George Rainbow Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Available until 26 September 2018, all the great low cost features of the Vertigo Visa with a rainbow design in support of the LGBT community.
Bank of Melbourne 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.
BankSA Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
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)
A long-term balance transfer offer with a range of platinum rewards and benefits.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.

Compare up to 4 providers

Compare the latest 0% balance transfer credit card offers

Want to save interest when consolidating your credit card debts? Compare some of the latest 0% balance transfer credit card offers below.

How does an interest-free balance transfer work?

You can use a balance transfer credit card to transfer your credit card debt to a new credit card with a lower interest rate. Many balance transfer credit cards come with 0% interest for a promotional period. Depending on the size of your debt and your ability to repay, this can help you save hundreds or thousands of dollars in interest. At the end of the promotional period, a higher revert rate will apply to any remaining debts.

You can usually request a balance transfer during the online application. After your application has been approved and you have activated your credit card, your new bank will initiate the balance transfer process by requesting the outstanding amount from your old bank. This process usually takes one or two weeks. It's important to note that the 0% promotional period usually applies as soon as your card is activated.

How to find a 0% balance transfer credit card for your needs

As many credit cards offer a 0% promotional interest rate for a balance transfer, the following factors could help you narrow down your balance transfer comparison:

  • How long you need to repay your existing credit card debt. The length of the balance transfer offer can vary from card to card, but some cards offer 0% from 6 months to 24 months. The longer the promotional period, the more time you'll have to take advantage of the interest-free offer.
  • Know which banks you can transfer to. You can't conduct a balance transfer between cards that are issued by the same organisation. This often includes cards that are issued by separate banks but owned by the same institution, which could limit some of your balance transfer options. You can compare the cards you can and can't transfer between with this guide.
  • Compare the fees. While you may save on interest, it's important to compare the other fees of the card. Some cards charge a balance transfer fee which can be between 2%-3% of the balance you're transferring. Some balance transfer credit cards also come with annual fees. You can compare cards balance transfer credit cards with no annual fee here. It's important to ensure that any fees you have to pay won't outweigh the interest you save with the 0% offer.
  • Balance transfer limit. While some cards allow you to balance transfer up to your total approved credit limit, others only allow you to transfer up to a percentage of your credit limit (such as up to 70% to 95%). Consider the size of your debt, the credit limit you're applying for and the balance transfer limits in place to ensure your card can support your debt.

How much could you save with a balance transfer card with 0% for up to 12 months?

Exactly how much you'll save in interest will depend on the size of your debts and your ability to repay, but let's look at an example to see some of the potential savings.

Let's say you have $3,500 debt on a card that is currently charging 20.99% p.a. If you transfer this to a card with 0% on balance transfers for 12 months and no annual fee, you'll save $684.21 if you repay the entire balance before the revert rate applies.

You can use the interest calculator built into finder's balance transfer comparison tables to determine how much you could save on interest.

Things to avoid with balance transfer credit cards

While a balance transfer credit card comes with many benefits, here are a few traps you should look out for:

  • Don’t balance transfer too often. As each credit inquiry and application is recorded on your credit file, frequent applications may result in your next request being rejected. To demonstrate responsible financial habits, you should leave at least six months between applications.
  • Only paying the minimum repayment. While you're required to meet the minimum repayment (which is usually between 2% and 10% of your total balance) each statement period, it's wise to pay as much as you can each month. If you want to pay your entire balance before the promotional offer ends, divide the amount you're transferring by the number of months in the introductory period. This will help you determine exactly how much you need to repay each statement period to ensure you clear the entire debt before the revert rate applies.
  • Don't forget the offer end date. Once the promotional period ends, any remaining balances will collect the revert rate (which is usually the standard purchase or cash advance rate). If you want to avoid collecting interest, set a calendar reminder for the end of the promotional period and do your best to repay the entire debt before this date.
  • Using your balance transfer credit card for purchases. If you want to concentrate on repaying your debt, you shouldn't use your balance transfer credit card to make purchases. Unless the card has a 0% offer on both balance transfers and purchases, your repayments will automatically go to the purchases as they'll be accruing a higher interest rate. It's also important to note that interest-free days don't apply on purchases if you're also paying off a balance transfer.

Discover how much interest you could save with the balance transfer calculator

Step 1. Enter the total debt/outstanding amount you would like to transfer.
Step 2. Provide the interest rate that you are paying on your existing debt (if you don't have your interest rate on you, the average is around 18-20%).
Step 3. See the 'Amount Saved' column to find out which credit cards will save you the most money. The calculator automatically accounts for any balance transfer fees and annual fees charged for each card. Click on the 'Amount Saved' title to sort the cards in ascending or descending order of money saved.
Step 4. Compare the credit cards available in the table provided to find the card that suits your needs. If you still want to find out more about a particular credit card, click the ‘More info’ link for a full review on the features and benefits.

Frequently asked questions about 0% balance transfers

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14 Responses

  1. Default Gravatar
    JakeApril 8, 2018

    Hi there,

    I currently have a credit card debt of approximately 6 thousand dollars and am looking into opening an account with an alternative bank to take advantage of any interest free period balance transfer. I work in hospitality but have always had steady employment and am 24 years of age. My concern is the possibility of being rejected an application and having it reflect negatively on my credit history.
    Is this likely considering it is not a massive debt and what offers should I be considering?

    Thanks and regards,
    Jake.

    • Staff
      JoshuaApril 8, 2018Staff

      Hi Jake,

      Thanks for getting in touch with finder.

      How credit card application affects the credit history is among the most common concerns of many people today. Thus, it is understandable you are asking this question.

      It is true that credit enquiries can reflect on your credit history. These credit enquiries stay on your credit file for five years, so if you have too many credit enquiries on your file in a short amount of time, it can negatively impact your credit score and your ability to get the card or loan you want. Click here for more information.

      If you’re concerned about the number of enquiries on your credit history, the first step is to get a copy of your credit file. You can request a free copy from each of the major credit reporting bodies (CRBs) once every year.

      To help you avoid enquiries, you need to review first the requirements and eligibility of a particular card. Do this to eliminate cards that might deny your application outright. Next, you may want to call or visit your bank and discuss your options. This way, unnecessary enquiries are not made.

      In case you are in the process of finding the right credit card balance transfer, you may want to go to this page.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    EricMarch 5, 2018

    I have a 15K cc debt and I want to apply with NAB for 25 months interest free at 0%. I am a full time permanent staff with NBNCO for 2 years now. I was with Optus for 13+ years before that. How much would I get approved?

    • Staff
      LiezlMarch 6, 2018Staff

      Hi Eric,

      Thanks for visiting finder!

      There’s no saying how much credit limit you’ll be approved for but it will be at least $6,000. While you can indicate your desired credit limit during the application, ultimately it will be determined by the bank based on your financial capability.

      However, in order for you to transfer the full $15,000 debt, you should apply for a credit limit of at least $17,000. This credit card will allow you to balance transfer up to 90% of your approved credit limit. Moreover, in order to qualify for the offer you have to apply for the balance transfer at the point of full card application. Please refer to this page for more details on this NAB Premium Card exclusive offer.

      Feel free to message us if have further questions.

      Cheers,
      Liezl

  3. Default Gravatar
    VenkateshFebruary 1, 2018

    Hi have nab credit card owing 4500$
    And common wealth bank owing 10000$
    Can u suggest how to balance transfer 2 Cards
    Plz reply thanks

    • Staff
      JonathanFebruary 23, 2018Staff

      Hi Venkatesh, thanks for your inquiry!

      Transferring two credit card balances is allowed. The key rule is your new balance transfer credit card needs enough credit limit to fit your two balances. Generally banks let you transfer 90-95% of your credit limit.

      Since your total debt is $14,500, you will need to be approved for $15263.15 if the bank allows 95% credit limit for balance transfer. Otherwise you will need to be approved for $16111.11 if the bank allows 90% of the credit limit for balance transfers and so forth.

      Once you have found a bank that you want to apply for, complete the application and enter your credit card account details.

      If your credit limit is insufficient to fit both debts, your new bank will take as much debt as possible. The remaining amounts will stay in your old credit card accounts.

      Thanks,

      Jonathan

  4. Default Gravatar
    RyanOctober 20, 2017

    I have arrived back from overseas and wish to pay of the balance of my credit card before the interest free period ends. I do not wish to use any of the cards and I’m looking for a balance transfer with no fees. which are the best cards for me.

    • Staff
      LiezlOctober 20, 2017Staff

      Hi Ryan,

      Thanks for visiting finder.com.au.

      While we are unable to recommend a particular credit card for you, you may compare your options for balance transfer credit cards with no balance transfer fees on this page. Some of the credit cards featured on that page also waive first year annual fee. Also, our guide here will help you determine which banks you can balance transfer to.

      Please make sure you confirm that you meet the eligibility criteria before you submit your application, as rejected credit card applications can have a negative impact on your credit score.

      Cheers,
      Liezl

  5. Default Gravatar
    SamSeptember 26, 2017

    what credit card will accept income protection top ups (as I’m on a graduated return to work program) with my employer wage as a total weekly income or do I have to wait until I’m off income protection all together?

    • Staff
      LiezlSeptember 27, 2017Staff

      Hi Sam,

      Thanks for reaching out.

      While we are unable to nominate a credit card that will definitely accept income protection benefits plus graduated salary, it is worth noting that generally, banks will request a specific minimum income per year. Now if you meet the minimum income as well as the other application requirements, then you’ll be eligible to apply for a credit card.

      That said, it would be ideal to contact the bank before completing the application process to determine whether the current benefits you’re receiving qualify as a form of income or maybe you’ll have to wait until you’ll receive full salary again.

      I hope this has helped.

      Cheers,
      Liezl

    • Default Gravatar
      SamSeptember 27, 2017

      Thanks for your prompt response, Liezl. I found out the Westpac don’t accept IP as an income.

      Cheers,
      Sam

  6. Default Gravatar
    LauraApril 4, 2017

    Could you please advise if balance is not paid off within the interest free period is interest charged on original outstanding balance from day accepted offer?

    • Staff
      JonathanAugust 3, 2017Staff

      Hi Luke,

      Only interest will be charged on the remaining balance, not the initial balance.

      Cheers,

      Jonathan

    • Staff
      MayApril 4, 2017Staff

      Hi Laura,

      Thank you for your inquiry.

      Once the promo for 0% interest on balance transfer ends, your card will revert to the standard balance transfer interest rate and your card will start charging that interest on the remaining balance left on the card. So for instance, after the BT offer, you had $1,000 unpaid balance, by the next due date, your $1,000 will then incur interest.

      Cheers,
      May

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