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What is a credit card rollover?

A credit card rollover is another term for a balance transfer. This involves moving your debt onto a card with a low or 0% p.a. introductory interest rate.

If you're paying a high interest rate on your credit card debt, transferring it a new card that offers a low or 0% p.a. interest rate gives you a way to save on charges during the introductory period. This can also help you pay off the debt faster, as more of your money will go towards the balance (rather than rates and fees). While this strategy is usually known as a balance transfer, it's sometimes described as a "credit card rollover" because the process allows you to "roll" your credit card debt "over" to a new account.

Compare credit card rollover or balance transfer offers

Rates last updated August 14th, 2018
$
% 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 25 months
12.74% p.a.
$99 p.a.
Get platinum perks and save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee.
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 18 months
20.74% p.a.
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Receive a long 18-month, 0% p.a., no fee balance transfer and earn Suncorp Rewards Points or Qantas Points per $1 spent.
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
ANZ Low Rate
0% p.a. for 15 months
12.49% p.a.
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
St.George Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitive annual fee.
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.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 months on balance transfers.
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.
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.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
ANZ First Visa Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% 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 44 days interest-free on purchases.
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.
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)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus complimentary international travel insurance.
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)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
ANZ Platinum Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% 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.

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Credit card rollover basics

What types of credit cards allow you to roll your debt over?

These are the main types of balance transfer or rollover credit card options on the market.

  • 0% balance transfer cards
    These credit cards offer an introductory 0% p.a. interest rate for the debt that's rolled over to the new card. You can usually transfer debt from any Australian credit card, store card or charge card that's held with a different issuer. At the end of the introductory period, the 0% p.a. interest rate reverts to a higher, standard rate that will be charged for any debt left over from your balance transfer.
  • 0% balance transfer and 0% purchase rate cards
    This type of credit card gives you an introductory 0% p.a. interest rate when you rollover your existing debt and also offers 0% p.a. interest on purchases during the introductory period. In some cases, the 0% interest period may last for different lengths of time. For example, the balance you rollover might get 0% p.a. for 12 months, while new purchases get 0% p.a. for 6 months. At the end of these introductory periods, the cards standard interest rates apply.
  • Long-term balance transfer cards
    If you have a lot of debt you want to rollover to a new credit card, a long 0% p.a. introductory period can help you save as much as possible on interest charges. Some long-term balance transfer cards offer interest-free periods of up to 24 months, giving you a decent amount of time to focus on paying off your debt before standard rates apply. Depending on the amount of debt you rollover, this could even be enough time to pay off your debt completely.

How can I pick the right rollover card?

If you pick a credit card that does not give you enough time to pay off your debt in full, you will have to pay the higher, standard rate of interest once the introductory period ends. So, remember to take a look at your budget before comparing cards. How much money can you afford to pay on a credit card repayment every month? Make sure that this is a comfortable amount and that you have left room for unexpected situations that may arise on any given month. By examining your budget you will be able to figure out how long it would take you to pay off the balance you owe on your different credit cards. Then you can start comparing the different offers based on your goals.

How to compare credit card rollover deals

Here are some of the main points you should look for when you're doing a comparison between balance transfer credit cards.

Compare balance transfer credit cards

How can I apply for a credit card rollover?

After you have compared balance transfer credit card offers you can go to the official credit card website and submit an application. You will need your personal details, information about your income and the credit card number and provider of your current card. You will also have to enter in the amount of the balance that you want to transfer.

Most credit card providers will let you know within a matter of 60 seconds whether you have been approved for your new balance transfer card or not. After that, you'll need to activate your card so that the new bank can complete the rollover process.

What happens once I've got a credit card rollover?

Make sure that you make all your minimum payments, and pay more if you have set up a budget to get the debt paid off within the introductory period. Remember to take note of the due date for your payments so you can avoid any penalties that may apply for late payments.

As mentioned earlier, you should avoid making any purchases with your new balance transfer card. You should also put the card away in a safe place so you won't have the temptation of spending with it. Credit card application tips to help you get approved

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Sally McMullen

Sally McMullen is an editor at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

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Important Information*
Citi Clear Platinum - Exclusive Offer

Interest rate

14.99

Annual fee

49*

*$99 p.a. after first year

Westpac Low Rate Card

Interest rate

13.49

Annual fee

0*

*$59 p.a. after first year

Westpac Altitude Platinum Card - Qantas

Interest rate

20.24

Annual fee

50*

*$150 p.a. after first year

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4 Responses

  1. Default Gravatar
    NickOctober 24, 2014

    Does a balance transfer include ur cash advances ? And do they go on a lower rate ?

    • finder Customer Care
      ElizabethOctober 24, 2014Staff

      Hi Nick,

      Thanks for your question.

      A balance transfer includes any and all unpaid balances owing on your current credit card. This includes purchases, cash advances, unpaid interest, etc.

      I hope this has helped.

      Thanks,

      Elizabeth

  2. Default Gravatar
    TimSeptember 16, 2011

    if my credit is bad, can it be difficult to roll over to a low interest card?

    • finder Customer Care
      JacobMarch 28, 2013Staff

      Hi Tim. Thanks for your question. The short answer is yes. Credit cards are products for people with good credit only. If you’re looking to consolidate a debt at a low interest rate, you may want to try a debt consolidation loan. But if you’re worried about how your credit history might affect your chances of getting access to credit, your best bet is to speak to a bank or lender directly.

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