0% Balance Transfer Credit Card Offers

Pay no interest for up to 26 months and repay your debt faster with a balance transfer credit card.

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Man doing balance transfer on laptop at home.

HSBC Credit Card Offer

HSBC Platinum Credit Card - Balance Transfer Offer

0% p.a. for 22 months on balance transfers

Offer ends 30 September 2020

Eligibility criteria, terms and conditions, fees and charges apply

HSBC Credit Card Offer

A platinum card offering 0% interest on balance transfers for 22 months with no balance transfer fee. Plus, an annual fee refund each year when you spend $6,000 on eligible purchases

  • Annual fee: $129 | Purchase interest rate: 19.99% p.a.
  • Complimentary travel insurance and 2 lounge passes per year
  • Earn 1 HSBC Rewards Point per $1 spent in Australia and 2 overseas
  • Foreign transaction fee: 3% | Cash advance rate: 21.99% p.a.
  • Minimum income requirement of $40,000
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If you want to avoid high interest costs, you can use a 0% balance transfer credit card to move debt from an existing card to a new one with a different provider that charges no interest for an introductory period. This means you can potentially save more and pay off your credit card debt faster. Use this guide to learn more about 0% balance transfers, understand how they work and compare current offers on the market.

Compare 0% balance transfer credit cards

Data indicated here is updated regularly
$
% p.a.
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount saved
HSBC Platinum Credit Card - Balance Transfer Offer
0% p.a. for 22 months
19.99% p.a.
$129 p.a.
Save with a 22-month balance transfer offer. Plus, lounge passes, travel insurance and an annual fee refund when you spend an eligible $6k/year.
ANZ Low Rate
0% p.a. for 22 months with 1.5% balance transfer fee
12.49% p.a.
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.
Coles No Annual Fee Mastercard
0% p.a. for 18 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.
Virgin Money No Annual Fee Credit Card
0% p.a. for 12 months
18.99% p.a.
$0 p.a.
Offers 0% p.a. for 12 months on balance transfers and up to 55 days interest-free on purchases, all for a $0 annual fee.
Westpac Low Rate Card
Finder Award
Westpac Low Rate Card
0% p.a. for 16 months
13.74% p.a.
$59 p.a.
A no frills, low rate card offering 0% p.a. interest on balance transfers for the first 16 months, with no balance transfer fee.
Virgin No Annual Fee Credit Card - Purchase Offer
0% p.a. for 9 months
0% for 9 months, reverts to 18.99% p.a.
$0 p.a.
Offers an introductory 0% p.a. for 9 months on purchases and balance transfers (with no BT fee) for an ongoing $0 annual fee.
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 variable 11.99% p.a. interest rate on purchases.
Coles Rewards Mastercard
0% p.a. for 18 months with 1.5% balance transfer fee
19.99% p.a.
$99 p.a.
Earn 2 flybuys points / $1 spent and save with a 0% balance transfer offer. Plus, 0% international transaction fees on purchases.
Qantas Premier Platinum
0% p.a. for 18 months
19.99% p.a.
$199 p.a. annual fee for the first year ($299 p.a. thereafter)
Get up to 80,000 bonus Qantas Points, 75 bonus Status Credits, a discounted first-year annual fee and a 0% p.a. balance transfer rate for 18 months.
Qantas Premier Everyday
0% p.a. for 12 months
19.99% p.a.
$49 p.a.
Get up to 25,000 bonus Qantas points, a 0% balance transfer offer and complimentary insurance covers.
Coles Low Rate Mastercard
0% p.a. for 6 months
12.99% p.a.
$58 p.a.
Save with a low purchase interest rate, earn flybuys points as you spend and get up to 55 days interest-free.
St.George Amplify Platinum - Qantas
0% p.a. for 6 months
19.74% p.a.
$99 p.a.
Earn 60,000 bonus Qantas Points, plus enjoy 0% p.a. on balance transfers for 6 months and complimentary insurance covers.
Citi Rewards Card
0% p.a. for 26 months with 1.5% balance transfer fee
21.49% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
Save with 0% interest on balance transfers for the first 26 months (with a 1.5% BT fee) and a $0 annual fee for the first year.
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Compare up to 4 providers

Updated July 6th, 2020
$
% p.a.
Balance transfer rate Purchase rate (p.a.) Annual fee Amount saved
HSBC Platinum Credit Card - Balance Transfer Offer

Save with a 22-month balance transfer offer. Plus, lounge passes, travel insurance and an annual fee refund when you spend an eligible $6k/year.

Balance transfer rate
0% p.a. for 22 months
Purchase rate (p.a.)
19.99% p.a.
Annual fee
$129 p.a.
Amount saved
ANZ Low Rate

Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.

Balance transfer rate
0% p.a. for 22 months with 1.5% balance transfer fee
Purchase rate (p.a.)
12.49% p.a.
Annual fee
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Amount saved
Coles No Annual Fee Mastercard

Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.

Balance transfer rate
0% p.a. for 18 months with 1.5% balance transfer fee
Purchase rate (p.a.)
19.99% p.a.
Annual fee
$0 p.a.
Amount saved
Virgin Money No Annual Fee Credit Card

Offers 0% p.a. for 12 months on balance transfers and up to 55 days interest-free on purchases, all for a $0 annual fee.

Balance transfer rate
0% p.a. for 12 months
Purchase rate (p.a.)
18.99% p.a.
Annual fee
$0 p.a.
Amount saved
Westpac Low Rate Card
2019 Winner
Westpac Low Rate Card

A no frills, low rate card offering 0% p.a. interest on balance transfers for the first 16 months, with no balance transfer fee.

Balance transfer rate
0% p.a. for 16 months
Purchase rate (p.a.)
13.74% p.a.
Annual fee
$59 p.a.
Amount saved

Compare up to 4 providers

Balance transfers explained in 60 seconds

How do 0% balance transfer credit cards work?

These cards charge no interest on balance transfer debts for an introductory period that can last from 6 to 26 months. With no interest payments, you can pay off your debt faster and save money. If you have multiple credit card debts, you can transfer and consolidate them on one balance transfer card. That way you'll pay no interest on the combined debt and will only need to manage one credit card account.

At the end of the interest-free period, any unpaid balance will attract a much higher revert interest rate. To avoid falling into debt, you should aim to pay off your balance transfer in full before the revert rate applies.

How much you will save with a balance transfer will depend on the size of your debt, the length of the interest-free offer and whether you can pay it off in full before the revert interest rate kicks in. You can use the comparison table above to compare cards by the potential savings based on your debt and the interest rate you're currently paying.

How to compare 0% balance transfers credit cards

There are many 0% balance transfer credit cards on the market, so here are five important factors to consider when comparing your options.

1. Length of the balance transfer introductory offer

Since many Australian credit cards come with introductory offers on balance transfers, it is crucial that you compare balance transfer cards by how long the interest-free period lasts for. You should look for a card that gives you enough time to repay the entire debt before the revert rate kicks in.

For example, let’s say you have a debt of $7,000 and are looking at a card with 0% on balance transfers for 18 months. You’d need to pay around $389 each month to clear the entire debt before interest applies. If you don’t think you can afford this, you could look for a card with a longer interest-free offer to spread out and reduce your monthly repayments.

2. 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 high credit limit of $20,000 and a maximum balance transfer of 80% of the limit, you could transfer up to $16,000. Refer to our guide on each bank's balance transfer limit and how much they will allow you to balance transfer for more information.

3. Which banks and institutions you can transfer to

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.

4. Balance transfer revert rate

If you can’t pay your entire balance by the end of the introductory period, any remaining debt will collect the balance transfer revert rate. This is usually the much higher cash advance or purchase interest rate. It’s important to compare this rate and know when it kicks, even if you’re planning to pay the debt in full before interest applies.

5. Compare fees and charges

While you won’t have to pay any interest during the promotional period, most balance transfer credit cards come with other costs. You may be charged a balance transfer fee when you first move the debt, which is usually a percentage-based fee of between 1% to 3% of the amount you're transferring.

Some 0% balance transfer credit cards charge $0 annual fee and others can range between $49 to $400 or more. Make sure that the annual fee won't exceed your interest savings before you apply.

Balance transfer cards often charge high purchase interest rates and your repayments will automatically go towards whichever balance attracts the most interest. If you're concentrating on paying down your balance transfer during the interest-free period, you should avoid using your card to spend unless you know you can pay it off in full.


A 0% balance transfer credit card can be a useful way to get your debt under control and pay off your card with no interest costs. If you’ve compared your options, you can use Finder’s guide to applying for a balance transfer for some tips to complete the application.

As there are many interest-free balance transfer credit cards on the market, make sure to compare your options before you apply to find the right one for you.

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99 Responses

  1. Default Gravatar
    WilOctober 11, 2019

    Hi, I was wondering whether it is possible to use a Balance Transfer to put a target credit card into a credit balance?

    • Default Gravatar
      NikkiOctober 12, 2019

      Hi Wil,

      Thanks for your comment. The possibility of transferring the balance of your target credit card into another would depend on the balance transfer card you choose. Note that there are banks you can and cannot balance transfer to and you can use this page for reference.

      Contact the bank of your choice and inquire about how their balance transfer process works. As a friendly reminder, check the eligibility requirements of the card before proceeding with your application. Also, read about its features and benefits and see how it fits your financial needs. Additionally, it’s helpful to review the PDS and Terms & Conditions of the card before fully committing to the card. You may also reach out to the bank if you have any clarifications.

      Here is also a step guide to a successful balance transfer process.

      Hope this helps and feel free to reach out for further assistance as needed.

      Cheers,
      Nikki

  2. Default Gravatar
    MikeSeptember 25, 2019

    Hi there,
    If I have a credit card with a balance transfer, and I make a purchase with that card, can I pay the amount of that purchase within the same statement period (to avoid the interests) or if I do this the payment will go to the balance transfer first?
    Thanks

    • Default Gravatar
      NikkiSeptember 26, 2019

      Hi Mike,

      Thanks for getting in touch! When you get a balance transfer credit card, you are encouraged to pay the full amount due on the due date – this includes your monthly balance transfer due and your purchases. If your card has a purchase rate — this may also be included in your bill. As a friendly reminder, check the eligibility requirements of the card before proceeding with your application. Also, read about its features and benefits and see how it fits your financial needs. Additionally, it’s helpful to review the PDS and Terms & Conditions of the card before fully committing to the card. You may also reach out to the bank if you have any clarifications.

      Hope this helps!

      Best,
      Nikki

  3. Default Gravatar
    samSeptember 25, 2019

    If I get the credit card only for balance transfer without using for any purchasing up to 15 month do I have to pay any interest on?

    • Default Gravatar
      AshSeptember 25, 2019

      Hi Sam,

      Thank you for contacting Finder.

      If you will be only using the Credit Card for the Balance Transfer, there is no need to pay for the Purchase Interest Rate as it will not accrue unless you will be making a purchase using your card.

      I hope this helps.

      Please do not hesitate to reach out again to us.

      Cheers,
      Ash

  4. Default Gravatar
    AlitaAugust 20, 2019

    I have no balance to transfer having paid off all, a year ago. I am looking for the best credit card with low interest rate as well as low interest on cash withdrawal.

    • Default Gravatar
      AshAugust 20, 2019

      Hi Alita,

      Thank you for contacting Finder.

      You may compare the Credit Cards listed at this page wherein they offer Low Cash Advance Interest Rate which is the one accruing if you are to withdraw cash from your card.

      Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      I hope this helps.

      Please do not hesitate to reach out again to us.

      Cheers,
      Ash

  5. Default Gravatar
    grantJanuary 9, 2019

    I want to balance transfer from a credit card to another credit card. I’m confused when they say 55-day interest-free (accept if you have a balance transfer), does this mean any new purchases on the new credit card will be charged interest from day of purchase.

    • Avatarfinder Customer Care
      JhezJanuary 11, 2019Staff

      Hello Grant,

      Thank you for your comment.

      To be eligible to receive interest-free days, you must repay your account’s outstanding balance in full by the due date on your statement. Usually, you’ll need to pay the full balance for the statement prior to the start of that billing cycle as well as the statement issued at the end of it.

      Please refer to this page as interest-free days is explained briefly on this page.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  6. Default Gravatar
    ChrisJanuary 2, 2018

    I’m wanting to help my daughter manage her credit card debt as she has just started Working as a teacher after studying for 2 years and although she worked Term 4 and has a contract for term 1 in 2018 she isn’t permanently employed so we were thinking she wouldn’t be eligible for an interest free card so I would take it out and she could make the minimum payment ?

    • Default Gravatar
      ArnoldJanuary 4, 2018

      Hi Chris,

      Thanks for your inquiry

      You may want to transfer your daughter’s credit card balance to your credit card to alleviate her debt. Some banks will allow you to move another person’s debt to your own credit card. Please note that you will have to meet certain eligibility requirements to be considered. For more information about this, please check on this link.

      Hope this information helps

      Cheers,
      Arnold

  7. Default Gravatar
    DianDecember 10, 2017

    I am on a pension income and I wish to make a transfer from my ANZ low rate c/card to a 0% balance transfer. Can you recommend a suitable c/card? Thanks!

  8. Default Gravatar
    brentNovember 12, 2017

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

    • Avatarfinder Customer Care
      DeeNovember 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

  9. Default Gravatar
    BrianSeptember 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???

  10. Default Gravatar
    michaelJuly 3, 2016

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

    • Avatarfinder Customer Care
      DeeJuly 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

Credit Cards Comparison

Data indicated here is updated regularly
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Save with a 22-month balance transfer offer. Plus, lounge passes, travel insurance and an annual fee refund when you spend an eligible $6k/year.
ANZ Low Rate
12.49% p.a.
0% p.a. for 22 months with 1.5% balance transfer fee
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.
Bankwest Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months
$0 p.a.
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
ANZ Frequent Flyer Black
20.24% p.a.
20.24% p.a.
$425 p.a.
Earn 100,000 bonus Qantas Points, 75 bonus Status Credits and $150 back when you spend $3,000 in the first 3 months with this premium card.
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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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