couple_checking_out_their_gold_credit_card_250x250_optimised_Shutterstock

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 October 21st, 2018
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
St.George Vertigo Platinum
0% p.a. for 26 months with 2% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer, $0 first year annual fee, complimentary travel insurance and access to a 24/7 personal concierge service.
NAB Low Fee Platinum Card - Exclusive Offer
0% p.a. for 25 months
19.74% p.a.
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
Citi Rewards Platinum Credit Card - Online Offer
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)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 24 month balance transfer offer, plus complimentary international travel insurance.
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.
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.
Citi Clear Platinum Credit Card
0% p.a. for 14 months
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
St.George Vertigo Classic
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 competitively low annual fee and purchase rate.
Citi Simplicity Card
0% p.a. for 6 months
19.99% p.a.
$0 p.a.
Get 0% p.a. interest for up to 6 months on balance transfers with no BT fee. Plus, a $0 annual fee for life.
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 points in the first 3 months with a $64 first year annual fee. Plus, the chance to win 1 million Velocity Points.
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.
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.
Qantas Premier Platinum
0% p.a. for 15 months
19.99% p.a.
$299 p.a.
Get 60,000 bonus Qantas points and a $300 Qantas Flight Voucher when you spend $4,000 in 90 days. Plus, complimentary lounge passes.
Bank of Melbourne Vertigo Classic
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Enjoy 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitively low annual fee and purchase rate.
CUA Low Rate Credit Card
0% p.a. for 13 months
11.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Take advantage of a 0% p.a. balance transfer rate for 13 months, $0 first year annual fee, and a low ongoing 11.99% p.a. interest rate 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. Plus, 2 airport lounge passes every year.
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 purchase and balance transfer offers of 0% p.a. for 13 months, a low ongoing rate and up to 55 interest-free days on purchases.
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)
Save with $64 first year annual fee and 0% p.a. balance transfer offer. Plus, the chance to earn 1 million Velocity Points. Ends 31 Oct 2018.
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 a 0% p.a. interest rate on purchases and balance transfers for 13 months, complimentary travel insurance and 0% foreign transaction fees.
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.
Suncorp Clear Options Platinum Credit Card
0% p.a. for 18 months
20.74% p.a.
$129 p.a.
Enjoy up to 60,000 bonus points, a long-term balance transfer offer and complimentary international travel insurance.
American Express Velocity Platinum Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$375 p.a.
Receive 75,000 bonus Velocity Points when you spend $3,000 within the first 3 months. Plus, Status Credits & lounge passes.
Bank of Melbourne Vertigo Platinum
0% p.a. for 26 months with 2% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers 26-month balance transfer, $0 annual fee for the first year, complimentary travel insurance and access to a 24/7 personal concierge service.
BankSA Vertigo Classic
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 16 months on balance transfers with no balance transfer fee. Plus, a low variable purchase rate.

Compare up to 4 providers

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

Image: Shutterstock

Back to top

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.

Was this content helpful to you? No  Yes

Related Posts

Credit Card Offers

Important Information*
Qantas Premier Everyday

Interest rate

19.99

Annual fee

0*

*$49 p.a. after first year

Westpac Low Rate Card

Interest rate

13.49

Annual fee

0*

*$59 p.a. after first year

ANZ Low Rate

Interest rate

12.49

Annual fee

58

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

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.

Ask a question
Go to site