Best Balance Transfer Rates* – 0% Interest Credit Cards

Get 0% interest for up to 24 months and save money with balance transfer credit cards.

Interest-free balance transfer credit cards allow you to transfer your existing credit card debt to a new credit card and pay 0% interest for a specified promotional period. Balance transfer credit cards with competitive 0% interest rates can help you clear your debt faster and minimise your interest costs.

Compare balance transfer offers here and pay less interest on your credit card debt today.

St.George Vertigo Platinum - Online Offer

0% p.a. for 24 months on balance transfers with no BT fee
$0 annual fee for the first year

Offer ends 13 December 2017

Eligibility criteria, terms and conditions, fees and charges apply

St.George Credit Card Online Offer

A platinum card that features a no BT fee balance transfer offer, first year annual fee waiver and a low variable interest rate on purchases.

  • $0 p.a. annual fee for the first year ($99 p.a. thereafter).
  • 12.74% p.a. on purchases
  • Cash advance rate of 21.49% p.a.
  • Up to 55 days interest free
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0% Balance Transfer Credit Cards Comparison

Rates last updated November 24th, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits plus 0% p.a. for 24 months on balance transfers (with no BT fee) and $0 annual fee in the first year. Ends 13 December 2017.
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 on eligible spend and enjoy a discounted annual fee of $64 for the first year.
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 apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
Citi Rewards Platinum Credit Card
0% p.a. for 24 months with 1.5% 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.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
St.George Vertigo Visa - Online Offer
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Take advantage of 0% p.a. for 18 months on balance transfers (with no BT fee). Plus, $0 annual fee in the first year. Ends 13 December 2017.
Bankwest Breeze Classic Mastercard
0% p.a. for 13 months with 2% balance transfer fee
0% p.a. for 13 months (reverts to 12.99% p.a.)
$79 p.a.
Receive 0% interest offers on purchases & balance transfers, up to 55 days interest-free on purchases and free emergency card replacement.
Westpac Low Rate Card - Online Only Balance Transfer Offer
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee when you apply online by 31 January 2018.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 12 months
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
NAB Premium Card
0% p.a. for 20 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Benefit from platinum perks plus take advantage of a low interest rate on balance transfers.
Bankwest Breeze Platinum Mastercard
0% p.a. for 13 months with 2% balance transfer fee
0% p.a. for 13 months (reverts to 12.99% p.a.)
$99 p.a.
Receive complimentary international travel insurance, extended warranty cover and 0% foreign transaction fees.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Receive a discounted annual fee, $100 cashback when you meet the spend requirement and up to 44 days interest-free on purchases.
Qantas Premier Platinum
0% p.a. for 15 months
19.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Fly further with 75,000 bonus Qantas points, up to 2 Qantas Points per $1 spent and 2 yearly complimentary Qantas Club lounge invitations.
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, take advantage of a long-term balance transfer offer and receive complimentary travel insurance.
NAB Low Fee Card
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
Qantas American Express Ultimate Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$450 p.a.
Take advantage of a high Qantas Points earn rate and two American Express Airport Lounge entries each calendar year.

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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?

Balance transfer credit cards let you 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 a balance transfer works

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? julies_school_supplies_shutterstock

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.

balance transfer calc

Frequently asked questions about 0% balance transfers

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8 Responses

  1. 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

  2. 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

  3. 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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