The Finder app is here! 🥳

Get your savings sorted.

Best* Balance Transfer Rates

Pay 0% interest for up to 26 months and save money with balance transfer credit cards.

Last updated:

Lady getting credit card out of wallet in front of laptop.

You can repay your credit card quicker and save money by transferring your debt to a card that charges 0% interest rates on balance transfers. Use this guide to compare interest-free balance transfer credit cards and learn how they work.

Coles Credit Card Offer

Coles No Annual Fee Mastercard

0% p.a. for 18 months on balance transfers
charges a one-time 1.5% balance transfer fee

Offer ends 30 April 2020

Eligibility criteria, terms and conditions, fees and charges apply

Coles Credit Card Offer

Reward your spending with flybuys points and save with 0% interest on balance transfers for the first 18 months.

  • Ongoing $0 annual fee | 19.99% p.a. purchase rate
  • Earn flybuys point per $1 on eligible purchases
  • Compatible with Apple Pay and Samsung Pay
  • 0% p.a. for the first 18 months on balance transfers with a one-time 1.5% balance transfer fee
Go to Site
Promoted

Compare 0% balance transfer credit cards

Updated April 1st, 2020
$
% p.a.
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount saved
Coles No Annual Fee Mastercard
0% p.a. for 18 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.
ANZ Low Rate
0% p.a. for 22 months with 1.5% balance transfer fee
12.49% p.a.
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.
Bendigo Bank Low Rate Mastercard
0% p.a. for 18 months with 2% balance transfer fee
11.99% p.a.
$45 p.a.
A no-frills credit card with a competitive annual fee and 0% p.a. interest rate on balance transfers for the first 18 months.
ANZ Platinum Credit Card
0% p.a. for 18 months with 2% balance transfer fee
20.24% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
ANZ First
0% p.a. for 18 months with 2% balance transfer fee
20.24% p.a.
$30 p.a.
Get up to 18 months interest-free on balance transfers and save with a low $30 annual fee. Plus, up to 55 days interest-free on purchases.

Compare up to 4 providers

How to compare 0% balance transfer credit cards

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:

  • You can find balance transfer credit cards charging 0% interest for 6 months to 26 months. As a much higher revert interest rate will apply to any leftover balance, it's important to choose a card that gives you enough time to pay off your debt in full.
  • You can't transfer debts between cards from the same bank or partnered issuers. See our guide to which banks you can and can't transfer between for more information.
  • You may not pay any interest while the promotion is in place, but you might have to pay balance transfer fees and annual fees. You'll also need to make minimum repayments every statement period, although you should pay more than the minimum if you want to pay off your balance before interest applies.
  • You can't transfer more than your approved credit limit, but some cards also only accept balance transfers up to a percentage of the approved credit card (such as up to 80% of the credit limit). You can see our guide to balance transfer limits for more information.

How much could you save with a balance transfer offering 0% rates 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.

How to use the balance transfer calculator to see how much you could save

You can use the interest calculator built into the comparison table above to determine how much you could save with a balance transfer credit card.

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.
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.

Calculate your repayments

Image: Getty

Back to top

Related Posts

Credit Cards Comparison

Updated April 1st, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
ANZ Low Rate
12.49% p.a.
0% p.a. for 22 months with 1.5% balance transfer fee
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.
Qantas American Express Ultimate Card
20.74% p.a.
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations. Ends 14 Apr 2020.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
Go to site