0% balance transfers and 0% purchase credit cards

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

The purpose of a 0% balance transfer and 0% purchase credit card is to enable you to pay off an existing credit card debt while being able to make interest-free purchases. When used responsibly, these credit card deals provide cardholders with interest relief on their debt.

Compare credit cards with both 0% balance transfers and 0% purchases

Rates last updated January 23rd, 2018
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 6 months
0% p.a. for 14 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.

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


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

Let's start by looking at what happens when a 0% offer applies to a balance transfer only.

Purchases typically attract interest with a balance transfer offer.

Balance transfer offers can be very tempting and can help you take control of your debt. However, people often fall into the trap of using the card to make purchases. Cards that have a balance transfer offer only, do not include interest-free days on purchases. If you use the card for this purpose, you can quickly increase your debt rather than reducing it.

Here's why: when you make a payment to your card, the debts on your credit card that have the highest interest rate will be paid off first. You might think your payments are making a massive dent in your historical debt, when in fact you are paying off any new purchases before your debt is reduced.

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

The combination of a 0% balance transfer and 0% purchase card solves this consumer pitfall. It eliminates the possibility of you getting stung with interest on purchases, as long as these are made during the introductory offer period.

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

When comparing cards, it's important to select the type that is most suited to your circumstances. Let's take a look at the main features of these cards, and examine what you should be looking for, and how certain factors can work against each other.

Types of 0% balance transfer and 0% purchase credit cards

No two 0% balance transfer and 0% purchase 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 determine your decision-making.

  • Rewards cards. It's rare for rewards cards to carry this type of offer. Generally, only trimmed-down rewards cards will have the full 0% on balance transfers and 0% on purchases. They might come with complimentary insurance and other helpful but low-key privileges.
  • Reduced annual fee for first year. Even a cursory glance at the above comparison table shows 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 if you want to keep your upfront costs low while you knuckle down to paying off your debt.
  • Platinum cards. Platinum credit cards are targeted at higher income customers, and often require a shining credit history. In return, you get higher credit limits as well as more valuable extras, which often include complimentary overseas travel insurance.
  • Classic cards. Classic credit cards are a good choice for people on a lower income. They are usually a no-frills option with lower annual fees than platinum cards.
  • Low rate cards. These are a popular offering in the 0% balance transfer and 0% purchase scene, as purchases on the cards usually revert to a relatively low interest rate.

Start comparing 0% balance transfers and 0% purchase credit cards

How to use these credit cards wisely

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. Keep in mind the main dos and don'ts when using this type of card before you apply:

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

  • Make your balance transfer quickly. Though the introductory period may only last a number of months, your opportunity to make a transfer at the promotional rate may be limited to a shorter period, such as within the first 30 days. 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.
  • How to make the transfer. If you don't transfer your balance during your application, you can apply online, over the phone or via hard copy, 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% purchase 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 higher than 20%. However, if you can’t make it by the cut-off date, it may be worth considering transferring the balance again to another similar card from a different bank.

The don'ts

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

  • Revert interest rates. Be aware of the spike in interest you 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, consider swapping cards or think about how you will budget for the extra costs. 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 with any credit card, and is hardly ever covered by a 0% deal. Even if they are, there will still be a cash advance fee for every transaction of this type. 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 of offer periods. The length of these offers can vary, so it's worth deciding from the outset what your plans are for when the period ends. Think about whether a longer balance transfer and purchase period would suit you, even if the interest rate offer is higher than some of the shorter, 0% offers.
  • Annual fee. Check this is not way higher than average. A little higher than normal may be worth it for the benefits you gain from the offer.
  • Minimum monthly repayments. Pay your credit card balance in full each month whenever possible. By being prepared for your minimum monthly repayment you can also help avoid late fees. Calculating your own minimum monthly balance repayment is as simple as looking at your minimum percentage repayment 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

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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Read more on this topic

Credit Card Offers

Important Information*
NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate


Annual fee

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

Interest rate


Annual fee

Woolworths Everyday Platinum Credit Card
Woolworths Everyday Platinum Credit Card

Interest rate


Annual fee

Virgin Money Low Rate Credit Card
Virgin Money Low Rate Credit Card

Interest rate


Annual fee


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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 January 23rd, 2018
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 25 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$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.

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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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