0% Balance Transfers & 0% Purchases Credit Card

Have an existing credit card debt and need to make purchases? Compare 0% balance transfer and 0% purchase offers here.

These offers are about as exciting as credit card deals get, providing credit cardholders with interest relief on their debt. The purpose of a 0% balance transfer and 0% purchases credit card is to pay off an existing credit card debt while being able to make interest-free purchases.

ANZ Platinum Credit Card - Exclusive Offer

0% p.a. for 12 months on balance transfers
0% p.a. for 3 months on purchases

Eligibility criteria, terms and conditions, fees and charges apply

ANZ Platinum Credit Card - Exclusive Offer

Exclusive to this site, pay no annual fee in the first year and take advantage of low introductory rates on purchases and balance transfers.

  • $0 p.a. annual fee for the first year ($87 p.a. thereafter).
  • 19.74% p.a. on purchases
  • Cash advance rate of 21.49% p.a.
  • Up to 55 days interest free
  • Minimum income requirement of $35,000 p.a.
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Compare Credit Cards with both 0% Balance transfers & 0% Purchases

Rates last updated August 22nd, 2017
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
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)
Exclusive to finder, 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
Bankwest Breeze 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 up to 55 day interest-free on purchases and free worldwide emergency card replacement.
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 - 0% Interest Offer
0% p.a. for 6 months
0% p.a. for 12 months (reverts to 20.74% p.a.)
$129 p.a.
Save with 0% p.a. interest on purchases and balance transfers, plus, earn up to 0.66 Velocity Points per $1 spent.

Compare up to 4 providers

How to use a 0% balance transfer to manage post-Christmas debt


How do 0% balance transfer and purchase rate credit cards work?

To understand what this all means, we need to look at what can happen when the 0% offer is only on a balance transfer.

Purchases typically attract interest with a balance transfer offer.

Balance transfers are a great offer — their popularity is a testament to this. One trap some people can fall into on a regular balance transfer card is by using it to make purchases. The reason purchases cause issues is because there are no interest-free days on credit cards with a balance transfer, so you'll have to pay interest on the recent purchase. This isn’t an ideal situation for people who are making an effort to get out of their debt.

0% purchase and 0% balance transfer cards let you repay your debt and purchase interest-free.

The combination of a 0% balance transfer and 0% purchases card solves this consumer pitfall by eliminating the possibility for consumers to be stung with interest on purchases during the introductory offer period. For cardholders on a normal balance transfer offer, the latest credit card reforms require banks to allocate payments to higher-interest debts first. It works this way: the debts on your credit card will be paid off in a certain order of the highest interest rates first. Customers who thought they were putting a massive dent towards their credit card debt are paying off their new purchases first and are being less effective at paying off debt than they intended.

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How to compare 0% balance transfer and 0% purchases credit cards

When comparing 0% balance transfer and 0% purchases credit cards, make sure to identify the type of card that is most suited to you.

Here, we'll examine the main features of these cards, what you should be looking for, and why you must understand how certain factors can work against each other.

Types of 0% balance transfer & 0% purchases credit cards

No two 0% balance transfer and 0% purchases credit card offers are the same. They're available across a variety of cards, so annual fees, revert interest rates and the class of the card can help set your alternatives apart.

  • Rewards cards. A rare beast to carry this type of offer. Generally only trimmed-down rewards cards will have the full 0% on balance transfers and 0% on purchases. So you may expect to get complimentary insurance and some other helpful, low-key privileges.
  • Reduced annual fee for first year offer. Even a cursory glance at the above comparison table will show that many of the 0% balance transfer and 0% purchase rate offers have a reduced annual fee for the first year. This can be very helpful for customers who wish to keep their upfront costs low while they knuckle down to pay off their debt.
  • Platinum cards. Platinum credit cards are a class, or category, of credit cards that are targeted at higher income customers than classic credit cards and often require a sharp credit record. In return, customers get higher credit limits as well as more valuable extras, including complimentary overseas travel insurance.
  • Classic cards. Classic credit cards are a good option for people on a lower income than is required for platinum credit cards. They are usually a low-frills option and therefore tend to have lower annual fees than platinum credit cards.
  • Low rate cards. Low rate credit cards are a pretty strong offer in the 0% balance transfer and 0% purchases scene, as purchases on the cards revert to what is usually a relatively low purchase interest rate.

Start Comparing 0% Balance Transfers & 0% Purchases Credit Cards

How to use 0% balance transfer & 0% purchase rate credit cards

Your 0% balance transfer and 0% purchases credit card will be a huge boon during its initial offer period, but only if you make effective use of it. Here are the main dos and don'ts of using this particular credit card to keep in mind before you apply:

The dos of 0% balance transfer and 0% purchases cards

  • Make your balance transfer quickly. Though the introductory period may only last a number of months, your opportunity to make the transfer may be limited to a shorter period (such as within the first thirty days), otherwise the promotional rate will be lost. The longer you leave it, the less time you'll have to enjoy avoiding interest. Take advantage of the offer by transferring your balance during your card application.
  • Understand how to make the transfer. As mentioned already, the easiest way is during your application. Otherwise, you apply online, over the phone or via paper forms in the mail once your card arrives.
  • Pay off your balance in good time. If your deal is for six months, that's not an awful lot of time. Make sure you are budgeting like mad to ensure the balance on your 0% balance transfer and 0% purchases credit card is paid off in full before the offer period expires. You will be charged the regular rate of interest on any unpaid balance, which could be as high as 24%. However, if you can’t get there by the cut-off date, it may be worth considering balance transferring again to another balance transfer credit card.

The don'ts

  • Don't think this can become a habit. Making one 0% balance transfer after another to avoid paying your debts will be noted in your credit history. Your credit rating may drop due to your regular credit applications, and the assessors of your credit file may well read into your habits and reject applications from you.
  • Don't make any cash transactions on your 0% balance transfer and 0% purchases card. Cash transactions aren’t often included in 0% promotional offers, and when they are, they still carry the very expensive cash advance fees.
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Things to watch out for when using this type of credit card offer

  • Revert interest rates. Cardholders need to be aware of the spike in interest they can expect at the end of the promotional offer.  The balance transfer amount will revert to either the higher cash advance interest rate or the purchase rate. If the balance won't be paid in full by that time, you may want to consider swapping cards or at least consider how you will budget. Rates on new purchases will revert to the purchase interest rate at the end of the introductory period.
  • Cash transactions. This is never a good idea on any credit card, and often unlikely to be covered by any 0% deal. Even if they are, there will still be a cash advance fee for every cash advance transaction. This is an extra charge of around 2-4% of the transaction amount. If the cash advance fee is unpaid by the next statement due date, it will accrue interest as well at the cash advance rate.
  • Different length offer periods. The length of these offers can vary, so it's worth deciding from the outset what your plans are when the period ends and whether a longer balance transfer and purchase period will suit you even if the offer interest rate is higher than some of the shorter, 0% offers.
  • Annual fee. Check this is not too much higher than average. A little higher than normal may be okay for the benefits you're gaining from your 0% balance transfer and 0% purchases offer.
  • Minimum monthly repayments. Although you want to pay your credit card balance in full each month when possible, your monthly minimum payment can be a good indicator of how high your current outstanding balance is. By being prepared for your minimum monthly repayment you can also help avoid late fees, which can be around $30-$40 for some cards. Calculating your own minimum monthly balance repayment is as simple as looking at what your minimum percentage repayment is and how much your outstanding balance is (interest included). You can also use an online credit card repayment calculator to tell you what your minimum monthly repayments will be by looking at your current balance and credit card interest rate.

Calculating your minimum monthly credit card repayment

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Frequently Asked Questions

During the 0% purchases offer period, purchases won’t incur interest.

However, after the 0% offer period ends, you will be charged the purchase rate of interest.

This will be charged from the date the transaction takes place if you’re carrying a balance from month to month as interest free days are waived for unpaid balances.

For the 0% offer period, 0% interest is applied for the outstanding balance.

After the offer period, if you don’t pay your balance in full by the statement period, you will not receive any interest free days on purchases you make with the card.

Purchases usually revert to the normal purchase interest rate on the credit card. Balance transfers however either revert to the purchase rate or the cash advance rate. To find out what rate your balance transfer will revert to, view the review of the specific credit card on finder.com.au.

Yes, the minimum monthly repayment must be paid each month to stop your card from going into default – if you have a balance transfer promotion charging 1% interest and the minimum monthly repayment is 3% – you’ll be paying 2% off your balance each statement period.

Yes, there were such offers at the time of writing. However, offers change from time to time, so the best way to stay up to date with the latest offers is to check our balance transfer comparison page.

Yes, there were such offers at the time of writing. However, offers change from time to time, so the best way to stay up to date with the latest offers from providers is to check our balance transfer comparison page.

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11 Responses

  1. Default Gravatar
    SyedAugust 21, 2017

    Hi Good morning
    I currently am a holder of AZN business credit card and seek to do a balance transfer to another bank credit card, as there’s a lot of information has been given, I am unable to decide which bank should I chose? My main concern to transfer from ANZ is their monthly minimum repayments which to me is little over. The limit on the card is A$5000.00. Could you please help?

    • Staff
      MariaAugust 21, 2017Staff

      Hi Syed,

      Thank you for reaching out to us.

      As finder is a financial comparison website providing general information, we are not permitted to provide our users with personalised financial advice or make product recommendations.

      However, we do help guide you through the process of comparing options.

      This page shows you credit cards that have offers on 0% Balance Transfers as well as 0% Purchase Rates and the table shows you the features of the different lenders that you may choose from and click “Go to site” to be directed to their page.

      You may also find other options on our page that have 0% Balance Transfer Credit Cards. They do not necessarily all have 0% Purchase Rates but have other terms that may suit your preference such as a longer period.

      Useful information that may guide you is also found on the link provided.

      I hope this helps.


  2. Default Gravatar
    BillMarch 13, 2016

    On a transfer of 0% for 9 months and purchases for 9 months with a revert to 19-20%, with a capacity to clear balance in offered time, am I obliged to make purchases other than to balance repayments to arrive at zero balance at the end of 9 months and at that time or beforehand take a no frills credit card with a competitor with a low interest rate? In other words can I use their offer to have 9 months interest free (incurring only the cost of the card).

    • Staff
      JonathanMarch 14, 2016Staff

      Hi Bill, thanks for your inquiry!

      That is correct. With a promotional offer of 0% for 9 months on purchases and balance transfers no interest will be charged. If you have a balance transfer amount and you have made purchases, any repayments to your credit card account will go to your balance transfer amount first. This is because the revert rate is higher than the purchase revert rate.



  3. Default Gravatar
    KristieAugust 31, 2015

    did you have an offer of 0% p.a for 12 months on new purchases on the Westpac 55 Day card on the 20 june 2015?

    • Staff
      JonathanSeptember 1, 2015Staff

      Hi Kristie, thanks for your inquiry!

      The Westpac 55 Day credit card did not have a purchase rate promotion on that specific date.



    • Staff
      JonathanSeptember 1, 2015Staff

      Hi Kristie, thanks for your inquiry!

      The Westpac 55 Day credit card did not have a purchase rate promotion on that specific date.



  4. Default Gravatar
    kevinSeptember 7, 2014

    who has 0% interest for the longest time

    • Staff
      ShirleySeptember 8, 2014Staff

      Hi Kevin,

      Thanks for your question.

      At the time of writing, the longest 0% offer in our comparison is for 13 months. All three cards are currently offered by Bankwest.


  5. Default Gravatar
    VivienMarch 7, 2013

    Can I withdraw a cash amount on existing card then apply for new card with 0% balance transfer

    • Staff
      JacobMarch 8, 2013Staff

      Hi Vivian. Yes, this is possible. The only thing you will want to look out for it that you need to get approved on your new credit card, otherwise you’re going to be stuck with a huge credit card bill. A few things that may result in a declined application: too many enquiries (applications for credit) in a short space of time, defaults on previous credit products and applying for a card that has a high annual income requirement. For more information on why credit card applications get declined, check our article on the topic.

Credit Cards Comparison

Rates last updated August 22nd, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, long-term balance transfer offer with platinum privileges, including travel insurance.
St.George Vertigo Visa
13.24% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Apply by 31 October 2017 to receive a long-term, no fee balance transfer and a $129 Virgin Australia Gift Voucher each year.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 20 months
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.

Compare up to 4 providers

* 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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