0% Balance Transfer Credit Card Offers

Repay your debt faster and save on interest costs with a balance transfer credit card with 0% p.a. for up to 24 months.

0% balance transfer credit cards let you move debt from an existing card to a new card with a different provider that offers no interest charges on the balance during the introductory period. With 0% interest on the debt, you can save more and pay off your credit card debt faster. Here, you’ll find out more about 0% balance transfer cards, including how they work and how to compare them to take full advantage of these offers.

NAB Premium Card

0% p.a. for 20 months
on balance transfers
with a one-time 2% balance transfer fee

Eligibility criteria, terms and conditions, fees and charges apply

0% Balance Transfer Credit Card Offer

The NAB Premium Card features a long-term balance transfer promotion and a range of platinum benefits.

  • 0% p.a. on balance transfers for 20 months on a new NAB Premium Card. BT reverts to cash advance rate (currently 21.74% p.a.)
  • A one-time 2% balance transfer fee applies.
  • Receive seven complimentary insurance covers when you make an eligible purchase. Plus, access to the 24/7 NAB Concierge Service.
  • Request an additional cardholder at no extra cost.
  • NAB may vary or end this offer at any time.
Go to site

0% balance transfer credit cards comparison

Rates last updated November 21st, 2017
$
% 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 - 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.
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.
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)
Receive a long-term BT offer, to earn Citi Reward Points on everyday spend and receive complimentary travel insurance.
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.
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)
An exclusive credit card offer through finder.com.au that offers 0% on purchases and balance transfers and complimentary insurance covers.
NAB Premium Card
0% p.a. for 20 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, access to a 24/7 concierge service and special offers through Visa Entertainment.
BankSA Vertigo Visa
0% p.a. for 18 months with 2% balance transfer fee
13.24% p.a.
$55 p.a.
Get up to 55 days interest-free on purchases and be protected by a 24/7 fraud monitoring service.
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.
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.
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.
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 Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$129 p.a.
Apply by 30 November 2017 to receive a no fee balance transfer and a $129 Virgin Australia Gift Voucher each year.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 2% balance transfer fee
12.74% p.a.
$99 p.a.
Get a range of complimentary insurance covers, access to a 24/7 concierge and up to 55 days interest-free on purchases.
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.
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.

Compare up to 4 providers

The finder.com.au best* 0% balance transfer credit cards

Compare the balance transfer offers below and receive extra benefits.

Balance transfers explained in 60 seconds

 

What you'll find in this guide

Follow the steps to learn, compare and apply for a balance transfer offer.

What is a 0% balance transfer credit card?

0% balance transfers let you transfer your existing credit card debt to a new credit card with a 0% interest rate for a promotional period. The interest-free promotional period will vary from card to card, but you can find cards with no interest on balance transfers for up to 24 months. Once the introductory offer has finished, the balance transfer interest rate will revert to a higher standard interest rate.

balance transfer benefits and process

How do 0% balance transfer credit cards work?

A 0% balance transfer credit card allows you to move a high-interest debt to a new card with a promotional 0% offer on balance transfers. You can request the balance transfer when you're applying for the new card. If you're approved, your new provider will settle the balance on your old card and transfer it to your new account. While the 0% promotional balance transfer offer is in place, you won't accrue any additional interest as you repay your debt.

This means you can clear your balance without collecting more debt for a promotional period of up to 24 months depending on the card. Not only can you clear your debt faster, but you can save hundreds or thousands of dollars on interest charges at the same time.

How much interest will I save with a 0% balance transfer credit card?

If you have a credit card debt of $1,000 and you make $100 repayments per month, a balance transfer offer can help you regain control of your finances and save.

Normal credit card without balance transfer offer0% balance transfer credit card
Interest rate20% p.a.0% p.a.
Months required to repay12 months10 months
Interest paid over this period$200$0

As you can see in the example above, not only can you save $200 in interest costs, but you'll also repay your debt faster.

This example assumes that the cardholder cleared the debt before the promotional offer finished. Once the 0% balance transfer period offer finishes, a higher standard interest rate will apply. So if you're unable to pay off your debt before the introductory offer ends, your remaining debt will be charged the standard variable interest rate for balance transfers.

You can calculate how much interest you'll save with your balance transfer credit card using the comparison table above. Simply type in the size of your debt and the current interest rate you're paying and select calculate. Considering the interest saved will help you compare your options and determine which 0% balance transfer credit card is right for you.

Your current stage in choosing a balance transfer offer

How to compare 0% balance transfers credit cards

Here are the most important factors you should keep in mind to find a 0% balance transfer card to consolidate your debt:

  • Length of the balance transfer introductory offer. The 0% interest period on a balance transfer card can range from 6–24 months, but will vary between cards and available offers. The more debt you have, the longer you want the introductory period to be so you have more time to pay it off.
  • How much you are allowed to transfer. Depending on the bank, you can usually transfer between 70% to 100% of the approved credit limit. If you had an approved credit limit of $10,000 and a maximum balance transfer of 80% of the limit, you could transfer up to $8,000. Refer to our guide on each bank's balance transfer limit and how much they will allow you to balance transfer.
  • Make sure you can transfer to the new bank. You can't transfer your balance to a new card under the same bank. This means that you also can't transfer balances between banks that are owned by the same provider. For example, you can't balance transfer between St.George and Bank of Melbourne as they're both owned by Westpac. Refer to our guide on which banks you can balance transfer to for more information.
  • Balance transfer revert rate. At the end of the balance transfer promotion, the 0% interest rate will revert to a higher standard variable rate (usually the cash advance or purchase rate). This means any balance that remains after this time will be charged interest, so you should aim to repay your debt before the promotional offer ends to avoid interest charges.
  • Rewards. Credit card rewards are earned based on how much you spend on the card, so they are not usually a priority when you want to pay off debt. Plus, it's important to remember that balance transfers don't earn points. But if you want to earn rewards in the future, considering this feature when you apply for a 0% balance transfer could save you adding another card to your wallet later on.
  • Complimentary extras. Many credit cards come with perks such as complimentary international travel insurance, extended warranties and purchase protection insurance. These benefits can add value to a card but are usually less important when compared to features such as the balance transfer offer and ongoing fees.
  • The purchase rate. If you plan to make new purchases on the card before or after you’ve cleared your debt, check the purchase rate. Note that this rate will be applied from the day of the transaction when you carry a balance. If you want to make purchases whilst repaying a balance transfer, some cards offer both 0% on balance transfers and purchases. If you're paying down a debt, avoid using your card for purchases until you've repaid the entire balance.

What are the hidden costs of a 0% balance transfer credit card?

While you don’t pay interest on the debt you move to a 0% balance transfer card, there are a number of other fees you should be aware of before you apply. Some of the most common costs include:

  • Balance transfer fee. Banks may charge a 1-3% fee for your balance transfer, which is based on the total balance transfer amount. You can check if the card you're applying for charges a balance transfer fee by using our balance transfer credit card reviews or by reading the fine print.
  • The annual fee. While some 0% balance transfer credit cards have a $0 annual fee, others can range between $49 to $400 or more. Make sure that the annual fee won't exceed your interest savings before you apply.
  • Minimum repayments. Even though the card charges 0% interest, you will still have to pay at least the minimum amount required for each statement period. Paying the minimum repayment might not be enough to clear your balance before the end of promotional period, so make an effort to pay as much as you can each month. Ideally, you should divide your balance by the number of months in the promotional period and pay that amount each month to clear the balance in full before the promotion ends.
  • Interest charges for new purchases. When you make a purchase on a 0% balance transfer card, the purchase rate will be applied to it from the day the transaction is made. Your repayments will also go towards the debt that attracts the highest interest rate first. In this case, that is your purchases instead of your balance transfer.
  • Late payment fee. Some credit card issuers may charge a late payment fee if payments are made after the due date on your statement.

Depending on the 0% balance transfer card you choose, other fees and charges may also apply in some circumstances. Make sure you check the standard terms and conditions for individual cards before you apply.

How to apply for a 0% balance transfer offer

These simple steps will help you find and apply for a 0% balance transfer offer that fits your budget and your needs.

  1. Check your total amount of debt owed

    Consider how much debt you want to transfer, and how long you think it will take you to pay it off so that you know what kind of offers will help you achieve your goal.

  2. Compare 0% balance transfer offers

    Look at all the different features and types of balance transfer offers, weighing them up based on the length of the 0% balance transfer offer, the amount you have to repay and the fees and features that come with the card. You should also make sure you meet the eligibility requirements before you apply. Use the comparison table to review your options side by side.

  3. Apply online

    Once you've compared your options and decided on a card, hit the ‘Go to site’ button and you will be redirected to the credit card’s secure application page.

  4. Fill out the application form

    You will need to provide personal details including your full name, date of birth, street address, driver's licence number and/or passport number. Keep these documents handy and submit copies as requested by the credit card issuer.

  5. Include details of the balance transfer request

    There is a section of the credit card application that asks for details of any balance transfer requests. You will need to fill this out with information including the current credit card company, the account number and the total amount of debt you want to transfer to the new card.

  6. Submit the application

    You should get a response within 60 seconds of applying. You may be required to provide supporting documentation as part of this process. When you receive your card and activate it, your new provider will process the balance transfer from your old card to the new one. If you'd like to cancel your old credit card, contact your old bank directly to request for the account to be closed.

Your current stage in choosing a balance transfer offer

Applying for a 0% balance transfer can be a daunting task. We have answered the most popular questions from our users about applying and using a 0% balance transfer credit card here. If you still have a question please leave a comment in the "Ask a Question" box below and one of our friendly staff will respond to your query.

Frequently asked questions about 0% balance transfer credit cards

A wide range of credit cards offer 0% balance transfer deals, including cards from the Big Four (ANZ, Commonwealth Bank, NAB and Westpac) as well as cards from other major and smaller providers.

Balance transfer promotions are usually only available for a limited time. You can compare current offers using the tables above to find a balance transfer credit card that suits your needs.

Balance transfer offers can provide you with a way to manage your existing debt and everyday expenses. If you have an existing credit card debt and want to pay less interest, then a 0% balance transfer offer could suit your needs.

No. Balance transfers between two separate cardholders are not permitted.

This is usually possible if both you and your spouse have a joint account before requesting the balance transfer. Refer to our guide on joint balance transfers to consolidate your debt with a partner.

Yes. You will still have to make minimum monthly repayments. This is usually 2-3% of the entire balance. But with a 0% balance transfer offer, your entire repayment will go towards the debt, rather than interest charges. While you're required to pay the minimum repayment, it's wise to pay as much as you can to clear as much of the debt as you can before the revert rate applies.

For example, let's say you have a debt of $10,000 and a credit card with 0% on balance transfers for 24 months. You would need to pay around $417 each statement period to clear the entire balance before the revert rate applied at the end of the 24-month promotional period.

Once the application process is complete and you have been approved, the new credit card will be issued. This generally takes between 5-10 business days, but it could be as many as 21 days before you receive the card.

After you get the card, you will need to activate it so that your new issuer can begin the balance transfer process. It could be as long as 21 business days from card activation before the debt is moved from your old card to the new one.

Only certain banks allow you to transfer a personal loan debt to a new credit card. Refer to our guide here for the eligible banks and credit cards you can transfer to.

No. Unfortunately this type of balance transfer is not permitted.

Most balance transfer offers must be requested at the time of application in order to get the promotional low or 0% interest rate. But some banks also allow a balance transfer to be requested after you have submitted your application.

The length of the 0% interest period varies between cards. For example, if a card offers 0% interest for 12 months, you will have 0% on your balance for up to 12 months from when the card is activated. To get the full value from the 0% interest rate, pay off as much as you can as soon as possible. This will help you repay the balance in full before the promotion ends.

A balance transfer fee is a one–off charge that some bank's apply for transferring your debt to the new credit card. This fee is usually 1-3% of your entire debt amount and is charged on the first bill. Not all credit cards charge a balance transfer fee, so check individual offers to see if it applies.

No, you can choose to transfer a portion of the balance. Just select the amount you want to transfer during the application process (and make sure you have a payment plan in place). Keep in mind that this will mean that you have two separate debts and card fees to manage.

Usually interest-free days are not available on purchases when you have an outstanding balance. As a result, any purchases you make will accumulate interest at the purchase interest rate whilst using a balance transfer offer. Please note that your bank will automatically allocate your repayments to the debt that is collecting the highest interest, which is likely to be the purchases if a 0% balance transfer offer is in place. If you would like to make purchases with no interest whilst repaying your existing credit card debt, compare 0% balance transfers and 0% purchase credit cards.

Your old credit card will remain active until you cancel it. If you want to cancel your old credit card, wait until the balance transfer process is complete and submit a request to your old bank.

Credit card repayments go towards the balance with highest rate of interest first. When you have a low interest or 0% balance transfer promotion, all repayments will go towards purchases and cash advances before your balance transfer debt if they're collecting a standard interest rate. As a result, it is ideal to avoid making purchases or cash advances when using a balance transfer.

If your balance transfer promotion has ended and you still have an outstanding balance, you can apply for another balance transfer credit card. This will be subject to approval based on the new bank's lending criteria.

Keep in mind that too many credit card applications can negatively impact your credit history and your ability to get a credit card application approved. You may like to consider a long-term balance transfer for more time to repay your balance.


Compare other types of balance transfers

Was this content helpful to you? No  Yes

Related Posts

Qantas Premier Platinum
Qantas Premier Platinum

Interest rate

19.99

Annual fee

299
St.George Vertigo Platinum - Online Offer
St.George Vertigo Platinum - Online Offer

Interest rate

12.74

Annual fee

99

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, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.

85 Responses

  1. Default Gravatar
    brentNovember 12, 2017

    can i consolidate 2 existing credit cards into 1 new 0% balance transfer credit card.

    • Staff
      AnndyNovember 12, 2017Staff

      Hi Brent,

      Thanks for your question.

      Most balance transfer credit cards allow you to consolidate at least 2 cards from other banks. However, kindly note that the total amount that you can move to the new balance transfer card depends on your approved and available credit limit.

      If you are interested to know where you can balance transfer to based on your existing card issuers, you can check our guide here.

      Cheers,
      Anndy

  2. Default Gravatar
    September 19, 2016

    G’day.

    Just wondering what if 0% on balance transfers is a good way to pay down debt. e.g. $15k credit card debt. 1.5% on bt and 0% interest for 24 months, but fees $200 for first year then $300 after that. So over 24 months would cost $725. If live of cash and pay credit card. Then at the end of 24 months look for another deal. And cancel when converts to the higher than average rate. Isn’t this a good way to pay down the debt???

  3. Default Gravatar
    michaelJuly 3, 2016

    Can you get a card without giving out your employment details?

    • Staff
      AnndyJuly 3, 2016Staff

      Hi Michael,

      Thanks for your inquiry.

      Credit card companies will require your employment details because it is one way to prove your source of income. If you are self-employed, you will be required to provide your accountant’s contact details.

      Cheers,
      Anndy

  4. Default Gravatar
    JanJune 29, 2016

    If I transfer my debt (which will be different to my bank) can I still make payments via internet banking?

    • Staff
      MayJuly 1, 2016Staff

      Hi Jan,

      Thanks for your inquiry.

      That depends on the bank where the transfer is being made to. But, usually, credit card companies accept card payments in many ways including internet banking.

      Cheers,
      May

  5. Default Gravatar
    May 12, 2016

    Are the balance tranfer credit cards help with paying any bills you may have?

    • Staff
      MayMay 12, 2016Staff

      Hi Sonya,

      Thanks for your question.

      If you’re not going to use the card for a balance transfer, using it for paying bills is okay. However, if you will conduct a balance transfer on the card, a great portion of your credit limit will be used up. Please keep in mind that a large percentage of the credit card limit (sometimes 70%-95%) can be used when you do a BT. As such, it may not be practical to use your card for debiting your bills as there would be a possibility you will end up charging your card more than its credit limit.

      Hope this helps.

      Cheers,
      May

  6. Default Gravatar
    DenisApril 27, 2016

    i have a bank of melbourne credit card and a nab credit card, i want to transfer the nab card to a balance transfer 0% at st. george
    is st george the same bank

    • Staff
      SharonMay 1, 2016Staff

      Hi Denis,

      Thanks for your inquiry.

      Transferring a balance from a NAB card to a new St.George credit card is allowed. Please note of the eligibility requirements before sending your application as each submitted application will appear on your credit history.

      I hope this helps.

      Sharon

  7. Default Gravatar
    JudeApril 5, 2016

    My daughter has a maxed out credit card and will probably not be eligible for another credit card. Can I get a card in my name and have her balance transferred into it. I know I would then be liable for the debt, but I accept that.

    • Staff
      SharonApril 8, 2016Staff

      Hi Jude, thanks for your comment.

      Some banks allow balance transfers between two separate names. You may refer to the following page to see the different options and compare balance transfer credit cards that you can apply for.

      I hope this helps.

      Sharon

  8. Default Gravatar
    yvonneMarch 8, 2016

    I have a ANZ and Coles mastercard which are nearly maxed out could you please tell me if I can get a which is the best card to go with and also can I transfer both into the 1 card. your faithfully Yvonne

    • Staff
      SharonMarch 9, 2016Staff

      Hi, thanks for your inquiry.

      Please note that finder.com.au is an online comparison service and is not in the position to recommend specific products, providers and services to you, as the best option will always depend on your individual financial needs and situation.

      You may want to check this page to find the *best balance transfer credit card. Take time to compare credit cards and use the balance transfer calculator to find the one that suits you. Please take note of the eligibility requirements at the bottom of each credit card’s review page as each submitted application will appear on your credit history.

      I hope this has helped.

      Thanks,

      Sharon

  9. Default Gravatar
    JodyJuly 23, 2015

    Can the transfer amount from a personal loan be used to take advantage of the 0% balance transfer offers? As in, can I pay off a car loan where I am currently paying around 8% interest with a 0% BT offer on a new credit card with one of the offering companies?
    Thank you.

    • Staff
      JonathanJuly 24, 2015Staff

      Hi Jody, thanks for your inquiry!

      For balance transferring a personal loan to credit card please see this page.

      Cheers,

      Jonathan

  10. Default Gravatar
    RobJuly 15, 2015

    Two questions:

    If I transfer say $5000 to a 0% card does this mean that I pay nothing until the end of the interest free period, or must I still pay a proportion of the transferred balance each month?

    Do I have to transfer the whole balance to the new card, or can I retain my existing card as well with a small or zero balance outstanding?

    Thanks

    • Staff
      JonathanJuly 16, 2015Staff

      Hi Rob,

      During a 0% balance transfer promotion you still have to pay the minimum repayment for the card which is usually 2-2.5% of the full outstanding debt on the card. With a $5000 balance transfer amount this would require a minimum repayment of $100 per statement. How much you can transfer to the new credit card depends on the specific bank and your approved credit limit for the percentage of how much you can transfer your balance, with more information available on
      Once you have fully paid your balances, you can continue on using the card.

      I hope this answers your question.
      You may want to check a comparison of credit cards with long term balance transfer offer on this page.

      Cheers,

      Jonathan

Ask a question