Credit Card Balance Transfer Calculator

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

If you're having trouble paying off your credit card, you can use a 0% balance transfer to clear your debt faster while minimising your interest costs. Depending on the size of your debt and the current interest rate you're paying, some cards will offer you more savings than others. This is why it's important to compare your options before you apply to find the card that'll offer you the biggest savings.

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 based on the size of your debt and how much interest you're currently paying.

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

Rates last updated August 16th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000.
St.George Vertigo Platinum - Online Offer
0% p.a. for 25 months
12.74% p.a.
$99 p.a.
Get platinum perks and save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$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 and enjoy a discounted annual fee of $64 for the first year.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
Citi Simplicity Card
0% p.a. for 15 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 months on balance transfers.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
BankSA Amplify Card
3% p.a. for 36 months
19.49% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Receive a 3% p.a. for 36 months balance transfer and earn Qantas or Amplify Points per $1 spent. Plus, enjoy a $0 annual fee for the first year.
BankSA Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 16 months on balance transfers with no balance transfer fee. Plus, a low ongoing purchase rate.
St.George Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitive annual fee.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
St.George Amplify Card
3% p.a. for 36 months
19.49% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Take advantage of 3% p.a. interest on balance transfers for 36 months. Plus, a $0 first year annual fee and Amplify or Qantas Points per $1 spent.
NAB Low Rate Platinum Card
0% p.a. for 6 months with 2% balance transfer fee
0% p.a. for 9 months (reverts to 13.99% p.a.)
$100 p.a.
Enjoy a 0% p.a. interest rate offer on purchases for 9 months and the protection of 7 complimentary insurances including overseas travel insurance.
American Express Velocity Escape Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Earn uncapped Velocity Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
American Express Explorer Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Receive 50,000 bonus Membership Rewards points, a yearly $400 Travel Credit and 2 entries per year to the American Express Lounge.

Compare up to 4 providers

Rates last updated August 16th, 2018
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 18 months
20.74% p.a.
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Receive a long 18-month, 0% p.a., no fee balance transfer and earn Suncorp Rewards Points or Qantas Points per $1 spent.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$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 and enjoy a discounted annual fee of $64 for the first year.
St.George Vertigo Platinum - Online Offer
0% p.a. for 25 months
12.74% p.a.
$99 p.a.
Get platinum perks and save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee.
ANZ Low Rate
0% p.a. for 15 months
12.49% p.a.
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 months on balance transfers.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000.
Citi Rewards Platinum Credit Card
0% p.a. for 26 months with 2.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Receive a long-term BT offer, earn Citi Reward Points and receive complimentary travel insurance.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
ANZ First Visa Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Get up to 18 months interest-free on balance transfers and save with a low $30 annual fee. Plus, up to 44 days interest-free on purchases.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
St.George Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitive annual fee.
ANZ Platinum Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.

Compare up to 4 providers

Rates last updated August 16th, 2018
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Citi Signature Qantas Credit Card
0% p.a. for 6 months
20.99% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Receive 50,000 bonus Qantas Points, 2 yearly airport lounge visits and complimentary travel insurance. Plus, a discounted first year annual fee.
Citi Prestige Card
0% p.a. for 6 months
20.99% p.a.
$700 p.a.
Reward yourself luxuriously with 150,000 bonus Points, free hotel stays, exclusive events and unlimited airport lounge access with Priority Pass.
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.
Buy now and pay later with 0% p.a. interest on purchases for 14 months. Plus, 0% p.a. on balance transfers for up to 6 months.
NAB Rewards Classic Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$95 p.a.
Get 30,000 bonus points when you meet the spend requirement, 0.75 NAB Rewards Points per $1 spent and a 0% p.a. balance transfer offer.
NAB Rewards Platinum Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$195 p.a.
Collect 60,000 bonus points when you spend $2,500 within 60 days of account opening. Plus, receive complimentary travel and purchase insurances.
NAB Qantas Rewards Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$95 p.a.
A Visa card that offers 0.5 Qantas points per $1 spent, complimentary purchase protection insurance and up to 44 interest-free days on purchases.
NAB Qantas Rewards Premium Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$250 p.a.
Offers 30,000 bonus points when you meet the spend requirements and Qantas Points for your everyday spending. Plus a 24/7 personal concierge.
NAB Low Rate Credit Card
0% p.a. for 6 months with 2% balance transfer fee
0% p.a. for 6 months (reverts to 13.99% p.a.)
$59 p.a.
Receive an introductory 0% p.a. interest rate for 6 months on purchases, Visa Entertainment offers and a competitive $59 ongoing annual fee.

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 associated with 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 increase how much you could save

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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Credit Card Offers

Important Information*
Citi Clear Platinum - Exclusive Offer

Interest rate

14.99

Annual fee

49*

*$99 p.a. after first year

Westpac Low Rate Card

Interest rate

13.49

Annual fee

0*

*$59 p.a. after first year

Westpac Altitude Platinum Card - Qantas

Interest rate

20.24

Annual fee

50*

*$150 p.a. after first year

ANZ Low Rate

Interest rate

12.49

Annual fee

58

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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?

    • finder Customer Care
      ChesterMarch 30, 2017Staff

      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. finder 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

    • finder Customer Care
      LouFebruary 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

    • finder 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?

    • finder Customer Care
      LouJune 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

    • finder Customer Care
      LouJune 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?

    • finder 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

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