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Best balance transfer credit cards Australia

We spend hours crunching the numbers. Compare 90+ balance transfer card offers with 0% for up to 30 months.

$
% p.a.
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Name Finder Score Purchase rate p.a. Annual fee Balance transfer rate p.a. Amount Saved
Kogan Money Card – Exclusive Offer
Kogan Money Card – Exclusive Offer image
Exclusive
Kogan Rewards Program
Finder score
Purchase rate p.a.
9.99% for 18 months, then 21.99%
Annual fee
$0
Balance transfer rate p.a.
0% for 18 months with 1% balance transfer fee, then 22.74%
Amount saved
$1,329.29 over 18 months
Go to siteMore Info
Save with 0% p.a. interest on balance transfers (with a 1% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
Westpac Low Rate Card
Westpac Low Rate Card image
Finder score
Purchase rate p.a.
13.74%
Annual fee
$59
Balance transfer rate p.a.
0% for 26 months with 2% balance transfer fee, then 21.99%
Amount saved
$1,615.88 over 26 months
Go to siteMore Info
Save with a 0% p.a. interest rate on balance transfers for 26 months (with a 2% BT fee). Plus, a low 13.74% p.a. purchase interest rate.
St.George Vertigo Card
St.George Vertigo Card image
Finder score
Purchase rate p.a.
13.99%
Annual fee
$55
Balance transfer rate p.a.
0% for 24 months with 1% balance transfer fee, then 21.99%
Amount saved
$1,609.62 over 24 months
Go to siteMore Info
Get a 0% p.a. interest rate on balance transfers for 24 months (with a one-time 1% balance transfer fee).
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Virgin Australia Velocity Flyer Card - Balance Transfer Offer image
Finder Award
Velocity Frequent Flyer
Finder score
Purchase rate p.a.
20.74%
Annual fee
$149
Balance transfer rate p.a.
0% for 24 months with 1% balance transfer fee, then 20.99%
Amount saved
$1,421.62 over 24 months
Go to siteMore Info
Get 0% p.a. on balance transfers for 24 months (with 1% BT fee) and $129 Virgin Australia Gift Voucher.
Bankwest Breeze Platinum Mastercard
Bankwest Breeze Platinum Mastercard image
Finder score
Purchase rate p.a.
12.99%
Annual fee
$59
Balance transfer rate p.a.
0% for 24 months with 3% balance transfer fee, then 12.99%
Amount saved
$1,501.62 over 24 months
Go to siteMore Info
Get 0% p.a. interest on balance transfers for 24 months (with a 3% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.
NAB Low Rate Credit Card
NAB Low Rate Credit Card image
Finder score
Purchase rate p.a.
13.49%
Annual fee
$59
Balance transfer rate p.a.
0% for 24 months with 3% balance transfer fee, then 21.74%
Amount saved
$1,501.62 over 24 months
Go to siteMore Info
Get a 0% p.a. interest rate on balance transfers for the first 24 months (with a 3% BT fee).
Qantas Premier Platinum
Qantas Premier Platinum image
Qantas Frequent Flyer
Finder score
Purchase rate p.a.
20.99%
Annual fee
$349 first year ($399 after)
Balance transfer rate p.a.
0% for 12 months with 2% balance transfer fee, then 21.99%
Amount saved
$507.13 over 12 months
Go to siteMore Info
Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers, with a 2% BT fee.
NAB Rewards Platinum Card
NAB Rewards Platinum Card image
NAB Rewards
Finder score
Purchase rate p.a.
20.99%
Annual fee
$45 first year ($195 after)
Balance transfer rate p.a.
0% for 12 months with 3% balance transfer fee, then 21.74%
Amount saved
$761.13 over 12 months
Go to siteMore Info
Get up to 100,000 bonus NAB Rewards Points (worth $480 in eGift cards): 80,000 points when you spend $1,000 in the first 60 days and 20,000 after 12 months.
Qantas Premier Everyday
Qantas Premier Everyday image
Qantas Frequent Flyer
Finder score
Purchase rate p.a.
20.99%
Annual fee
$99
Balance transfer rate p.a.
0% for 12 months with 2% balance transfer fee, then 21.99%
Amount saved
$757.13 over 12 months
Go to siteMore Info
Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.
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Our best balance transfer offers for December 2024

Here are some of the best balance transfer credit cards on the market, based on their Finder Score:

Updated December 2024 by Finder's money editor, Richard Whitten.

The lowdown on Finder Score

Let's face it, the average person doesn't spend all day comparing credit cards. But we do. That's why we developed the Finder Score.

It's a quick, easy way you can see how one credit card compares to others on the market.

Every month we:

      • Analyse 90+ credit cards with balance transfer offers.
      • Assess seven features of each card and give each component a rating.
      • Combine the ratings via a weighted methodology to decide the Finder Score.

The Finder Score methodology is designed by our insights and editorial team. We review products objectively. Commercial partnerships do not affect the scores.

Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you. Double-check details that matter to you before applying or buying.

Balance transfer credit cards - score weightings

FeatureDefinitionAssessmentWeight
Balance Transfer PeriodLength of the interest-free period on transferred balances (in months)Longer periods earn more points, up to the market maximum40%
Balance Transfer FeePercentage charged on the transferred balanceLower fees score higher. 0% fee receives the maximum points20%
Balance Transfer RateInterest rate on transferred balances after the introductory period endsLower rates score higher. 0% rate receives the maximum points15%
First-Year FeeAnnual fee charged in the first year of ownershipLower fees score higher. $0 fee receives the maximum points12%
Ongoing Annual FeeAnnual fee charged from the second year onwardsLower fees score higher. $0 fee receives the maximum points8%
Revert RateInterest rate applied to remaining balance after the introductory periodLower rates score higher2.5%
Purchase RateInterest rate on new purchasesLower rates score higher2.5%

Finder Scores: What they mean

  • 9+ Excellent - These cards offer the longest 0% interest periods, lowest balance transfer fees, and competitive revert rates for maximum savings.
  • 7+ Great - Tackle debt with generous interest-free periods, reasonable balance transfer fees, and potential for additional perks.
  • 5+ Standard - Reduce interest costs with reasonable interest-free periods and balance transfer fees.
  • Less than 5 – Basic - These are generally cards aimed as general audiences which include a balance transfer feature.

Best low rate balance transfer card - Westpac Low Rate Card

Westpac Low Rate Card

  • 0% Balance Transfer Offer
  • $59 Annual fee
  • 13.74% Purchase rate
Ends on 30 April 2025

Pros & cons

  • 0% p.a. for the first 26 months on balance transfers
  • Low 13.74% p.a. interest rate on purchases
  • $0 first-year annual fee for existing customers
  • Charges a one-time 2% balance transfer fee
  • Balance transfer reverts to the high cash advance rate of 21.99% p.a. after the introductory period

Why we like it

This card has one of the market's longer balance transfer offers of 0% p.a. balance transfer offer for 26 months (with a 2% balance transfer fee). You could transfer debt to this card and repay it with no interest for the first 2 years and 2 months. The low $59 annual fee also helps keep your account costs down.
This card has a Finder Score of 9.74 in the balance transfer category.

Best no fee balance transfer - Virgin Money Anytime Rewards Credit Card

Virgin Money Anytime Rewards Credit Card

  • 80,000 bonus Virgin Money Points & 0% Balance Transfer Offer
  • $149 Annual fee
  • 19.99% Purchase rate

Pros & cons

  • 80,000 bonus Virgin Money Points
  • 0% p.a. balance transfer offer for 12 months (with no BT fee)
  • 1 Virgin Money Point per $1 spent on eligible spending, uncapped
  • Visa Platinum Concierge Service
  • High 20.99% p.a. interest rate for balance transfers after the introductory period
  • No complimentary international travel insurance
  • No interest-free days on purchases when you have a balance transfer

Why we like it

While this card's balance transfer period is on the shorter side, the lack of a balance transfer fee makes it a very compelling offer. Especially if you're looking to pay off a relatively large balance in a shorter time frame. You'll benefit from the lack of a balance transfer fee.
This card has a Finder Score of 9 in the balance transfer category.

Best 24-month balance transfer - NAB Low Rate Card

NAB Low Rate Credit Card

  • 0% Balance Transfer Offer
  • $59 Annual fee
  • 13.49% Purchase rate

Pros & cons

  • 0% p.a. on balance transfers for 24 months
  • Competitive purchase rate
  • Free additional cardholder
  • Charges a one-time 3% balance transfer fee
  • No rewards program or travel insurance

Why we like it

This card has a fairly long 0% p.a. interest rate on balance transfers for 24 months, with a 3% balance transfer fee. And a low $59 annual fee. If you need to make new purchases when you're paying off a balance transfer debt, you can still get interest-free days on new purchases if you pay the "interest-free days payment" (listed on your statement) in full by the due date.
This card has a Finder Score of 9.19 in the balance transfer category.

Want more great credit cards? Check out all the 2024 Finder Credit Card Award Winners.

What is a balance transfer credit card?

A balance transfer is a credit card offer for people with unpaid credit card debts.

You can move the debt onto a new credit card via a balance transfer offer. The strongest balance transfer offers give you 0% interest for up to 30 months, letting you pay off your debt without having to worry about super high interest charges.

A balance transfer offer is a debt-busting lifeline for people with big credit card debts. The key thing is to make sure you pay it off and avoid spending too much on the new card.

The average Australian credit cardholder with credit card debt carries an interest accruing balance of $1,569, based on RBA data.
Picture not described

Sounds great! What's the catch?

There's no catch. But...

  • Your new card provider may charge a one-off balance transfer fee of 1–3% of your balance.
  • At the end of the balance transfer period the 0% interest rate reverts to a much higher rate (often above 20%). Pay it off before this happens.
  • You will get charged interest on any new spending you do on the card. This is called the purchase rate.
Key

The key to making a balance transfer work

1. Once the balance transfer is complete, start paying the debt off.
2. Figure out a realistic amount you repay each month (and stick to it).
3. Close the old credit card (the one you used to rack up the debt). That way it won't get you into any future trouble.
4. Look at your past spending. Figure out where you went wrong with the old card. You have to avoid making the same mistakes with your new card.

Does transferring credit card balances affect your credit score?

When used correctly, a balance transfer credit card can help you repay your debt and improve your credit score in the long-term. But applying for a new credit card leaves a hard enquiry on your credit report (and may decrease your score for a month or two).

Try to avoid applying for multiple cards. This will lower your credit score. Missing repayments on the balance transfer card will also hurt your credit score.

How to compare balance transfer credit cards

  • Look for a long offer. The longer the offer term, the more time you'll have to pay off your debt for a low or 0% rate. Make sure the first thing you do is compare credit cards.
  • Watch out for the transfer fee. Most cards charge a balance transfer fee. This one-off fee is 1% to 3% of the amount you transfer.
  • Find a 0% balance transfer rate. The best balance transfer credit cards in Australia offer 0% interest for the promotional period.
  • Take note of the revert rate. If you haven't paid off the balance transfer by the end of the offer period, the higher revert interest rate will be charged on your leftover debt.
  • Check the eligibility. You can usually transfer a balance from Australian-issued cards or accounts, as long as they are from a different issuer. Some cards also allow you to transfer debts from personal loans and lines of credit.
  • Know your limits. On some cards you can only transfer up to a percentage of your approved credit limit (usually 70% - 100%). You can see Finder's guide to balance transfer limits for more information.

Want to see how much you could save? Put your balance and interest rate into the balance transfer table's calculator, or use Finder's credit card repayment calculator to help set your repayment goals.

Pros and cons of balance transfer credit cards

Pros

  • Save on interest costs. You can transfer your existing balance to a new card and get a low or 0% interest rate for a while. This will almost always be lower than the interest rate you're currently paying.
  • Pay off debt faster. By not paying interest you should be able to get rid of your balance a lot faster.
  • Simplify your payments. If you have several debts, you can use a balance transfer card to combine them so you only have to keep track of one credit card bill. This also saves you money on card fees.
  • Perks and extras. If you want to use the card after you have paid off your balance, perks like credit card travel insurance or rewards could help you get more value out of the card in the long run.

Cons

  • Balance transfer fee. This one-time fee can range from 1% to 3% of your balance transfer amount, when it applies. That would mean a fee of $100 to $300 on a $10,000 debt.
  • Revert rate. If you don't pay off your whole balance transfer during the introductory period, this is the interest rate you'll pay on the remaining balance.
  • Balance transfer limits. Depending on the card and how much debt you want to transfer, you may not be able to move it all onto the new card. You could still be saving money, but you'll also have to manage your existing card.
  • Credit score impact. Every time you apply for a new credit card, an enquiry is recorded on your credit report. If you already have a weak credit score, this could lower it further and you may not be approved.
Tim Bennett's headshot

"I got into some credit card trouble in my early twenties. I was stuck with over $5,000 of debt on a Commonwealth Bank credit card that I should never have taken out. That might not seem like a lot to some people, but I was struggling financially at the time, and the interest was crippling. I took out an ANZ balance transfer card and was able to get zero interest for 18 months, which gave me a lot more space to pay the thing off."

Insurance expert

Is a balance transfer credit card right for me?

A balance transfer credit card is really useful if you are struggling with unpaid credit card debt - and interest - from one or multiple cards.

Still not sure if a balance transfer card is right for you? Ask yourself these questions first.

  1. Is there a way I can pay off my balance without getting a new card?
  2. Can I afford the fees that come with the new card?
  3. Will I be able to pay my balance off before the 0% period ends?
  4. Am I eligible for this credit card? Is my application likely to be rejected?

Check your credit score before you apply for a card.

Taylor Blackburn's headshot

"I used to work for a credit card company in the call centre and helped hundreds of people with balance transfers. These are the 3 most important things to know:

  1. If you take out a card with a balance transfer offer, use it for the balance transfer and nothing else. If you make purchases on it, that money is charged at a different and often higher purchase rate and more spending makes it harder to pay off your balance.
  2. Don't miss a payment or you'll end up reverting to the purchase rate. Set up auto-payments from your bank account.
  3. Don't assume it's not worth it. Even on a $5K balance, you could save more than $1,500 in interest if you drop from a standard purchase rate to 0%."
Money expert

What's the best way to pay off a balance transfer credit card?

  1. Make a plan. Look at your budget and see how much you spend and save each month. Figure out how much you can use to pay off the balance. If there's not much money, try to find ways to cut back, like cutting out subscriptions or unnecessary expenses. Use the savings to pay down your balance.
  2. Set up auto-pay. Your bank should offer you a way to automatically set up a monthly card payment. This means you'll never miss a card payment, as long as there's money in your account.
  3. Do the maths. Take your unpaid balance and divide it by the number of months on your 0% balance transfer offer. Let's say you have a $4,000 balance to repay and a 26-month balance transfer offer. You need to repay $154 a month.
  4. Avoid getting into further debt. Recognise the money mistakes that got you into trouble in the first place. Try not to spend wildly on the new credit card (if possible, don't use it for new spending it all and just pay off the balance).

Set yourself up for success by setting up direct debit payments from your bank account each month. Watch as your balance goes down, and make sure it's paid off before the balance transfer period ends.

Best Balance transfer credit cards 2024 (video)

Struggling with debt? Help is available

It's easy to get into trouble with a credit card. Sometimes it's easy to sort this out with some careful budgeting and a balance transfer.

But if you've got multiple, serious debts, bad credit history, or other issues that seem to make it impossible to get back on track financially, it's much harder.

  • Hardship support is available. If you're struggling, talk to your bank, card company, utility or other service provider. These companies have hardship support schemes in place. You might be able to get extra time to pay a bill, or a pause on loan repayment.
  • Free financial counselling. You can also call the National Debt Helpline on 1800 007 007 and get free financial counselling and support.

Frequently asked questions

Why you can trust Finder's credit card experts

helpAddicted to details - We track and review nearly 100 balance transfer cards (that's literally as many as we can find), and live score products daily to bring you the best 0% offers for the longest time periods.
freeSort the junk from the gold - we know even just 1% or another month can mean big bucks in your pocket. That's why we'll always prioritise showing you cards with the best offers.
independentNo BS - we're not owned by a bank, we don't have a call centre. Our only mission is to match you with the card of your dreams. Whether it's your first card, or you have 3 on the go - we got you.
Sarah Megginson's headshot
To make sure you get accurate and helpful information, this guide has been edited by Sarah Megginson as part of our fact-checking process.
Richard Whitten's headshot
Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 560 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips

More guides on Finder

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35 Responses

    Default Gravatar
    DanielJune 20, 2024

    Which is the best balance transfer card for June 2024 that has the lowest interest rate and longest promotion period?

      AvatarFinder
      SarahJune 28, 2024Finder

      Hi Daniel,

      The longest offer right now is 28 months and the interest rate is 0%, although note that with this particular offer, a 1% balance transfer fee applies. So if you transferred $5,000, you’d pay a fee of $50.

      Hope this helps!

    Default Gravatar
    FraserMarch 21, 2024

    Can I please have the existing balance on my account 456457106191****

      AvatarFinder
      SarahMarch 25, 2024Finder

      Hi Fraser,

      We are a review and comparison site, you’ll need to contact your bank directly for customer service.

    Default Gravatar
    DougFebruary 6, 2024

    Hi Amy
    So we have recently had a balance transfer approved for the full amount of debt on a selected card. Now we are looking at replicating for another card however we will not be able to manage the full amount.

    Meaning are strategy is to pay off the amount within the interest free period and then cancel the card

    Will the lenders allow you to select the amount and keep the other card open????

      AvatarFinder
      SarahFebruary 14, 2024Finder

      Hi Doug,

      It depends on your overall amount of debt compared to your income levels. When you apply for any credit card, the lender will assess your ability to repay not just that credit card, but all of the cards you have.

      Many people don’t realise that when assessing your application, the lender will assume that all of your credit cards are “maxed out”. This is because you have ready access to that credit and could make purchases up to the full limit at any stage, so they have to be prudent and ensure you can afford your new card AND your existing debts, assuming they are at their limits.

      For instance, if you have 3 cards that total $50,000 in credit limits, the bank will assume you have a debt of $50,000 and a minimum repayment of 3% per month, or $1,500.

      What this means for you is that the lower your overall limits are, the greater your chance of being approved for an additional credit card.

      Hope this helps and best of luck!

    Default Gravatar
    LeanneJanuary 3, 2024

    Hi,
    I am considering moving 2 x Credit Cards into a Bankwest Zero Platinum Mastercard.
    Will the actual application for a consolidation of 2 credit cards to one affect my score? Or leave a print?
    Also, why won’t any of the financial institutions consolidate 100% of the current balance on the existing cards? Thanks. L

      AvatarFinder
      AmyJanuary 15, 2024Finder

      Hi Leanne,
      If you requested the balance transfer for both credit cards at the same time, it would typically be considered a single application that requires 1 credit check. So it may depend on factors including whether you request the balance transfers at the time of your credit card application or later, and on the bank or credit card brand.

      In regards to balance transfer amounts, the percentage limit is based on the approved, available credit limit for the new credit card – not your existing cards. For example, if you applied for a credit card that accepted balance transfers worth up to 95% of the available credit limit and were approved for a $5,000 credit limit, you could balance transfer a total of $4,750 from existing cards.

      You can factor this in when you apply for a balance transfer credit card, and may be able to request a credit limit that would be sufficient to allow you to transfer the total balances on your current cards. Just keep in mind the credit limit request, balance transfer request and credit card account are all subject to lending criteria and approval. I hope this helps.

    Default Gravatar
    ShaggyJune 12, 2023

    G’day
    Can I transfer a personal loan onto a 0% credit card

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