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.
0% p.a. for 18 months on balance transfers
charges a one-time 1.5% balance transfer fee
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
Compare 0% balance transfer credit cards
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.
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* The credit card offers compared on this page are chosen from a range of credit
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subject to our disclaimer.
You should consider seeking independent financial advice and consider your own
personal financial circumstances when comparing cards.