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Credit Card Balance Transfer Calculator

Calculate how much you could save on interest with a 0% balance transfer credit card.

Updated

Man holding credit card and looking at laptop in office.
Depending on the size of your debt and the current interest rate you're paying, some 0% balance transfer credit cards will offer bigger savings than others. You can use the calculator built into the comparison table below to see how much you can save across a variety of interest-free balance transfer deals.

Use our balance transfer calculator to see how much you can save

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.
St.George Vertigo Classic
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
Get 0% p.a. on balance transfers for up to 18 months with no balance transfer fee. Plus, a low annual fee and purchase rate. Ends 2 June 2020.
Westpac Low Rate Card
2019 Winner
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.
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.
Citi Rewards Card - Exclusive Offer
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)
Finder Exclusive
Save with 0% p.a. interest on balance transfers for the first 26 months (with a 1.5% BT fee) and a $0 annual fee for the first year.
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.
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.
Bank of Melbourne Vertigo Classic
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
Enjoy 0% p.a. interest for up to 18 months on balance transfers. Plus, a low annual fee and competitive purchase rate. Ends 2 June 2020.
BankSA Vertigo
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 18 months on balance transfers. Plus, a low annual fee and purchase interest rate. Ends 2 June 2020.
St.George Vertigo Classic Rainbow
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
All the great low cost features of the Vertigo Visa with a rainbow design in support of the LGBT community. Ends 2 June 2020.
Bankwest Zero Platinum Mastercard
2.99% p.a. for 9 months
17.99% p.a.
$0 p.a.
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
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. Ends 2 June 2020.
St.George Amplify Platinum
0% p.a. for 6 months
19.74% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Up to 100,000 bonus Amplify Points (70k in the first year & 30k in the second year) when you spend $6k/year for the first 2 years. Ends 2 June 2020.
Westpac Altitude Platinum Qantas
6.99% p.a. for 12 months
20.49% p.a.
$200 p.a.
Get 60,000 bonus Qantas Points when you spend $3,000 within 90 days.
Westpac Altitude Platinum Card
6.99% p.a. for 12 months
20.49% p.a.
$150 p.a.
Earn 80,000 bonus Altitude Points when you spend $3,000 within 90 days. Plus, complimentary travel insurance covers.
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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.
St.George Vertigo Classic
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
Get 0% p.a. on balance transfers for up to 18 months with no balance transfer fee. Plus, a low annual fee and purchase rate. Ends 2 June 2020.
Bank of Melbourne Vertigo Classic
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
Enjoy 0% p.a. interest for up to 18 months on balance transfers. Plus, a low annual fee and competitive purchase rate. Ends 2 June 2020.
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.
Citi Rewards Card - Exclusive Offer
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)
Finder Exclusive
Save with 0% p.a. interest on balance transfers for the first 26 months (with a 1.5% BT fee) and a $0 annual fee for the first year.
St.George Vertigo Classic Rainbow
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
All the great low cost features of the Vertigo Visa with a rainbow design in support of the LGBT community. Ends 2 June 2020.
Bankwest Zero Platinum Mastercard
2.99% p.a. for 9 months
17.99% p.a.
$0 p.a.
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
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Data indicated here is updated regularly
$
% p.a.
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount saved
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. Ends 2 June 2020.
Westpac Altitude Platinum Qantas
6.99% p.a. for 12 months
20.49% p.a.
$200 p.a.
Get 60,000 bonus Qantas Points when you spend $3,000 within 90 days.
Westpac Altitude Platinum Card
6.99% p.a. for 12 months
20.49% p.a.
$150 p.a.
Earn 80,000 bonus Altitude Points when you spend $3,000 within 90 days. Plus, complimentary travel insurance covers.
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Compare up to 4 providers

How to use the balance transfer calculator in 3 easy steps

  • Step 1. Enter the total debt/outstanding amount you would like to transfer.
  • Step 2. Provide the interest rate that you are paying on your existing debt (if you don't have your interest rate on you, the average is around 18-20%).
  • Step 3. See the 'Amount Saved' column to find out which credit cards will save you the most money. The calculator automatically includes any balance transfer fees and annual fees charged by each card. Click on the 'Amount Saved' title to sort the cards in ascending or descending order of money saved.

If you want to find out more about a particular credit card, click the ‘More info’ link for a full review on the features and benefits.

finder-balance-transfer-calculator

How much money will I save by doing a balance transfer?

Exactly how much you will save with a balance transfer credit card will also vary depending on the size of your debt, your repayments and the promotional offer you apply for. However, the interest you save will depend on the difference between the interest you would have paid on your current credit card account and the interest you'll avoid with the 0% balance transfer offer. If you use the balance transfer calculator in the tables above, the "interest saved" column will indicate how much you can save if you repay your entire balance before the interest-free promotion ends.

Tips to save more with a balance transfer credit card

Here are some of the other ways you can make the most out of your balance transfer credit card:

  • Budget and pay your balance in full. At the end of the introductory period, any remaining balances will collect the standard revert rate. This is usually the standard cash advance or purchase rate, which can be as high as 23%. To get the most value out of your balance transfer credit card, you should stick to a repayment budget and aim to pay your balance in full by the end of the introductory period.
  • Avoid making purchases. You should concentrate on paying off your debt and avoid making purchases with a balance transfer card. Purchases collect the standard interest rate and any repayments will automatically go to paying off your purchases rather than your balance transfer. This is because banks automatically allocate your payments to whichever debt is collecting the higher interest rate in your account.
  • Consider the balance transfer fee. Some cards charge a one-time balance transfer fee. This fee is a percentage of the amount you’re transferring, which can usually vary from 1% to 3%. If you want to minimise your costs, consider a card that doesn’t charge a balance transfer fee.
  • Opt for a lower annual fee. If you don’t want an annual fee eating into your savings, you can look for a balance transfer card with a low or $0 annual fee.

A balance transfer credit card can be a useful way to pay off your debt while cutting down your interest costs. Using a balance transfer calculator can help you pick a card based on which product offers you the biggest savings, so make sure to compare your options before you apply.

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106 Responses

  1. Default Gravatar
    BernadetteOctober 21, 2017

    How long does t take for the new card to transfer old credit card debts to it? Do they do all that is needed to do the transfers? Thanks

    • Default Gravatar
      LiezlOctober 22, 2017

      Hi Bernadette,

      Balance transfer processing times vary from bank to bank. Usually, it will take 7 to 15 business days. While your new bank facilitates the debt transfer they will not process the closure of your old credit card. You would have to do it yourself. You may find our guide on banks processing times and balance transfer process on this page for more information.

      Cheers,
      Liezl

  2. Default Gravatar
    SuniilAugust 7, 2017

    Hi,
    I have NAB Qantas card and my interest rate is 14.49% from 21.99%. I used up 88000 points recently for a trip and i am also have frequent flyer programme with qantas. I would like to know which other card with similar interest rate can give me points and i can transfer those points on Singapore Airlines frequent flyer programme?
    As my monthly spend is anywhere between 1000-1200 and i travel once a year international, and may be 1 a year domestic i would like to know which other card i can use similar to nab with a yerly fee of $66 till date which will go to $95 from feb 2018 kindly let me know which is a reward card where i can on amex i get 1 points on each dollar and .05 on visa….
    thanks.
    Sunny

    • Default Gravatar
      JonathanAugust 7, 2017

      Hello Suniil,

      Thank you for your inquiry.

      Qantas cannot be transferred to Singapore Airlines because it is not one of their partnered airlines. You may visit Qantas website to know which airlines can be your options or check this page. As for the points, we have consolidated the changes for reward points program implemented starting July 1.

      Please read the fine print and the requirements before applying for these cards.

      Hope this helps.

      Cheers,
      Jonathan

  3. Default Gravatar
    fredMarch 29, 2017

    do any of the balance transfer cards allow for the transfer of personal loan balance in addition to the existing credit card balance?

    • Default Gravatar
      ChesterMarch 30, 2017

      Hello Fred!

      Thanks for your question.

      Transferring your personal loan balance to a credit card is actually possible and the Citi and Virgin Money credit cards allow you to do that. Please feel free to check this link to compare your options.

      Regards,
      Chester

  4. Avatarfinder Customer Care
    MayMarch 7, 2017Staff

    Hi Neville,

    Thanks for your question.

    As finder.com.au is a comparative financial service, we’re unable to suggest or recommend one specific credit card to our users as the best option depends ultimately on your own financial situation.

    Nonetheless, on this page, you would find a table that lists down the credit card issuers that accept pensioner applicants. When you click on the name of the bank, you would find the cards they offer. Make sure to review the criteria and eligibility of the card or contact the bank first before you apply.

    Cheers,
    May

  5. Default Gravatar
    nevilleMarch 7, 2017

    what is the best card for me. I am a disability pensioner but i have a very good credit score of almost 900.

  6. Default Gravatar
    stevenFebruary 12, 2017

    Can I transfer an amount from one credit card to another and let it sit there for a period of time say 12 months without paying any interest so long as I don’t spend anything on card transfer

    • Avatarfinder Customer Care
      DeeFebruary 12, 2017Staff

      Hi Steven,

      Thanks for your question.

      Generally, balance transfer cards give you flexibility when it comes to making repayments, within the promo period of 12 months or even more. During the promo period, you won’t incur interest on the balance that you moved so long that you pay the required minimum monthly repayment. If you use your card for purchases, it will separately attract purchase interest.

      For more information on how balance transfer works, you can check our guide on this page.

      Cheers,
      Anndy

  7. Default Gravatar
    AmyOctober 12, 2016

    I am looking to balance transfer to a new card. Just wanting to check about rewards programs. For cards like Virgin that offer points and rewards programs – would you receive any points for your balance transfer amount or only new purchases made on the new Virgin card?

    Many thanks

    • Avatarfinder Customer Care
      MayOctober 13, 2016Staff

      Hi Amy,

      Thanks for your question.

      Generally, for most credit cards, balance transfer transactions do not earn rewards points, only for eligible purchases. If you’re referring to Virgin Australia Velocity Flyer Card, balance transfer for this card does not let you earn points, however, you’ll earn 1 reward point per $1 on any purchase with Virgin Australia, with the standard earn rate of 0.66 Velocity Points per dollar spent up to $1,500 per month and then 0.5 Points per dollar thereafter.

      You can also check this page for other rewards credit card that you can compare.

      Hope this is helpful.

      Cheers,
      May

  8. Default Gravatar
    LisaCJune 18, 2016

    Hi, just wondering if a balance transfer will affect my credit rating?

    • Avatarfinder Customer Care
      DeeJune 19, 2016Staff

      Hi LisaC,

      Thanks for your comment.

      There are several ways on how a balance transfer can negatively affect your credit rating.

      1. If you apply for a balance transfer credit card and are rejected, or you have applied for several balance transfer credit cards at the same time or within a short period of time.

      2. If you are approved for a balance transfer but are unable to meet the regular minimum repayments and can’t repay your balance by the end of the promotional period.

      3. If you fail to close your old account after you’ve transferred your balance to a new card, unless you’re making regular repayments on both accounts.

      4. If you’re unable to repay your debt by the end of the promotional period and have to move the remaining amount to another balance transfer credit card.

      For tips on how you can have a balance transfer while avoiding having a negative impact on your credit rating, please refer to this page.

      I hope this helps.

      Cheers,
      Anndy

  9. Default Gravatar
    EmilySpenderJune 7, 2016

    Hi, I just have two (possibly silly) questions.
    Firstly, I have 2 credit cards from two different providers totally $8k. Is it possible to transfer this onto the one card as a balance transfer?
    Secondly, if the amount is say $8k, generally you must apply for a card with a larger credit amount, correct? Such as say $10k?

    Thank you in advance,
    Emily

    • Avatarfinder Customer Care
      DeeJune 7, 2016Staff

      Hi Emily,

      Thanks for your comment.

      Yes, you should be able to transfer multiple balances over one account, as long as the balance transfer amount doesn’t exceed the total approved credit limit and the new credit card is from a different issuer or bank.

      Credit cards have a set limit when it comes to the amount that you can transfer, some 95%, 90% or 80% of your approved credit limit. In saying this, your approved credit limit should be higher than the amount you intend to move.

      I hope these answer your questions.

      Cheers,
      Anndy

  10. Default Gravatar
    JMMay 17, 2016

    Can you balance transfer from St George to Bank of Melbourne?

    • Avatarfinder Customer Care
      MayMay 17, 2016Staff

      Hi JM,

      Thanks for your question.

      Unfortunately, balance transfers are not allowed between St.George, Bank of Melbourne and BankSA. Please feel free to check our article on which banks you’re able to transfer your balance to and from here.

      I hope this is helpful.

      Cheers,
      May

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.
St.George Vertigo Classic
13.99% p.a.
0% p.a. for 18 months
$55 p.a.
Get 0% p.a. on balance transfers for up to 18 months with no balance transfer fee. Plus, a low annual fee and purchase rate. Ends 2 June 2020.
ANZ Frequent Flyer Black
20.24% p.a.
20.24% p.a.
$425 p.a.
Earn 120,000 bonus Qantas Points & $275 back when you spend $4,000 in the first 3 months. Plus, airport lounge passes. Ends 9 June 2020.
Westpac Low Rate Card
2019 Winner
Westpac Low Rate Card
13.74% p.a.
0% p.a. for 16 months
$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.
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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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