0% Balance Transfers & 0% Purchases Credit Card

Have an existing credit card debt but need to make purchases? Repay your credit card debt with 0% interest and make purchases interest-free. Compare offers here.

Exclusive ANZ Platinum Credit Card 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)
• 0% p.a. for 3 months (reverts to 19.74% p.a.) on purchases
• 0% p.a. for 12 months on balance transfers
• 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

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Current Interest Rate

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Balance Transfer Period

More than3 months

Annual Fee

Less than$500 p.a.

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Name	Product	Balance transfer rate (p.a.)	Purchase rate (p.a.)	Annual fee	Interest 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.	Go to site More info	Compare	loading Fetching your data...
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.	Go to site More info	Compare	loading Fetching your data...
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.	Go to site More info	Compare	loading Fetching your data...
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.	Go to site More info	Compare	loading Fetching your data...

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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.

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.

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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