Long-Term Balance Transfer Credit Card Offers

Transfer your credit card debt and repay it over 24 months with 0% interest. Compare some of the longest balance transfers available today.

One way to tackle your credit card debt is to apply for a balance transfer credit card and transfer your balance at a low interest rate for a set period of time. The longer the term of a balance transfer, the more time you’ll have to pay off your debts. Learn about longer term balance transfer offers in this guide and some of the most commonly asked questions when applying for them.

St.George Vertigo Platinum - Online Offer

0% p.a. for 24 months on balance transfers with no BT fee
$0 annual fee for the first year

Offer ends 13 December 2017

Eligibility criteria, terms and conditions, fees and charges apply

St.George Credit Card Online Offer

A platinum card that features a no BT fee balance transfer offer, first year annual fee waiver and a low variable interest rate on purchases.

  • $0 p.a. annual fee for the first year ($99 p.a. thereafter).
  • 12.74% p.a. on purchases
  • Cash advance rate of 21.49% p.a.
  • Up to 55 days interest free
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Long-Term Balance Transfer Credit Cards Comparison

Rates last updated November 22nd, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits plus 0% p.a. for 24 months on balance transfers (with no BT fee) and $0 annual fee in the first year. Ends 13 December 2017.
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 on eligible spend and enjoy a discounted annual fee of $64 for the first year.
Westpac Low Rate Card - Online Only Balance Transfer Offer
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee when you apply online by 31 January 2018.
Citi Rewards Platinum Credit Card
0% p.a. for 24 months with 1.5% 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 Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
Bankwest Breeze Classic 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 0% interest offers on purchases & balance transfers, up to 55 days interest-free on purchases and free emergency card replacement.
Woolworths Everyday Platinum Credit Card
0% p.a. for 14 months
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
St.George Vertigo Visa - Online Offer
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Take advantage of 0% p.a. for 18 months on balance transfers (with no BT fee). Plus, $0 annual fee in the first year. Ends 13 December 2017.
NAB Premium Card
0% p.a. for 20 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, access to a 24/7 concierge service and special offers through Visa Entertainment.
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, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
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.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Receive a discounted annual fee, $100 cashback when you meet the spend requirement and up to 44 days interest-free on purchases.
Qantas Premier Platinum
0% p.a. for 15 months
19.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Fly further with 75,000 bonus Qantas points, up to 2 Qantas Points per $1 spent and 2 yearly complimentary Qantas Club lounge invitations.
BankSA Vertigo Visa
0% p.a. for 18 months with 2% balance transfer fee
13.24% p.a.
$55 p.a.
Get up to 55 days interest-free on purchases and be protected by a 24/7 fraud monitoring service.
NAB Low Fee Card
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 2% balance transfer fee
12.74% p.a.
$99 p.a.
Get a range of complimentary insurance covers, access to a 24/7 concierge and up to 55 days interest-free on purchases.
Qantas American Express Ultimate Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$450 p.a.
Take advantage of a high Qantas Points earn rate and two American Express Airport Lounge entries each calendar year.
Citi Signature Credit Card
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Earn from 1 Point per $1 spent on selected purchases and receive a complimentary Priority Pass membership with two airport lounge visits per year.

Compare up to 4 providers

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

 

How to use the Balance Transfer Calculator in 4 easy steps and learn how much you can save with a Long-Term Balance Transfer today

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 know your interest rate right now, 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
Step 4. Compare the credit cards available in the table provided to find the card that suits your needs. If you still want to find out more about a particular credit card, click the ‘More info’ link for a full review on the features and benefits.balance transfer calc

What is a long-term balance transfer?

A balance transfer offer on a credit card allows you to transfer your current credit card balance to a new card and repay it at a lower interest rate for a set period of time. Longer term balance transfers are a type of credit card offer that allows customers to transfer their existing credit card balance to a new credit card for a longer period of time – typically 9, 12, 18 or more months. Balance transfers charge a lower interest rate over the promotional period so you can save money and repay your debt.

What is the process to transfer a credit card balance?

Customers can apply for a long-term balance transfer credit card by requesting it during the online application (or after credit card approval with specific banks). Once the balance transfer has been requested, the new banking institution submits a request payout for the existing debt and transfers that amount to the new balance transfer credit card.

Credit card issuers essentially provide this offer as an incentive to attract new customers. However, it's important to pay off your debt during this period because after the balance transfer period, the interest rate reverts to the much higher standard interest rate or cash advance rate.

What are the types of long balance transfer period credit cards available?

  • No frills balance transfers. You can choose to balance transfer your debt onto a standard credit card that doesn't have any features you won't use. If you're seriously dedicated to paying off your debt, then these type of credit cards won't motivate you to spend any more because of the lack of rewards and features. The interest rate is typically either:
    - 0% p.a. interest on balance transfers for 9 months or more
    - A low balance transfer interest rate (e.g: 0.99%, 1.9%, 3.9%) for a longer period of time e.g: 12, 15, 18 or even 24 months.
  • Platinum balance transfers. If you have a high credit limit, you may want to balance transfer your debt onto a Platinum credit card. These types of credit cards often have complimentary travel insurance as well as a range of features to motivate you to spend more. They are often linked to a rewards system as well, so these aren't a great idea if you want to remain dedicated to paying your debt back quickly.
  • Rewards and frequent flyer balance transfers. These type of credit cards allow you to earn points on your eligible purchases. While you don't earn points for transferring your balance, you still get more value out of your purchases made on the card. Be mindful that if you have a balance on a rewards credit card, the interest charges will often negate the benefits that the rewards points provide.

How to compare credit cards that offer a long balance transfer deal

  • Promotional interest period. If you're looking for a balance transfer period that is considered a longer term, you'll need to look for one that is nine months or longer.
  • The balance transfer interest rate. This is the interest rate that is charged on balance that you've transferred. Some of the better offers have a 0% rate, but you'll find that longer periods may vary from 1.5%-5% over a 2 year period. This is when you can use your judgement to determine how long you'll need to repay your credit card debt to get the most competitive interest rate.
  • Balance transfer amount and limit. This determines the maximum amount you can balance transfer to your new credit card. A rule for long-term balance transfers is that you can't balance transfer more than your approved maximum credit limit. A common industry limit is 95% of your approved credit limit. So for an approved credit limit of $10,000, the maximum amount that can be transferred to the new card is $9,500. A few balance transfer credit cards have minimum and maximum amount of balance that can be transferred limits.
  • Balance transfer fee. Banks may charge a fee of 1-3% of the entire balance transfer amount, so it's important to read the terms and conditions before applying.
  • Balance transfer revert rate. Have a look at whether the balance transfer rate reverts to the purchase rate or cash advance rate. The purchase rate is generally lower than the cash advance rate, so if you do forget you won't be charged as much interest.

Key considerations for a balance transfer

Pros and cons of a long-term balance transfer

Pros

  • More time to pay off your debts. Two years is a more generous amount of time for customers to get on top of their finances and make the smart move to pay down debt.
  • Pay less interest. Using a long-term balance transfer can be great for customers with a sizeable credit card debt who want more time on the one card to save money in interest and pay down their debt.

Cons

  • Revert rate. The revert rate of your balance transfer is either the purchase rate or cash advance rate so it's important to have your balance paid off before the balance transfer period end or that any leftover balances are transferred again if you are in a position to apply for another balance transfer credit card.

What rate does your BT revert to?

Things to avoid when transferring your balance for a longer term

  • Making extra purchases. If you make a purchase on a credit card with an outstanding balance, interest is charged on the day of the purchase. This defeats the purpose of trying to pack back your original debt.
  • Leaving unpaid balances after the set period. Interest on a balance transfer will revert to either the purchase rate or, more commonly, the cash advance rate of interest after the promotional period. This can vary from card to card, but usually the interest will revert to an excess of 20% p.a.
  • Transferring to the same bank. Most credit card products don't allow you to balance transfer to the same bank or its affiliates unless specifically stated in their terms and conditions.

FAQs

    Qantas Premier Platinum
    Qantas Premier Platinum

    Interest rate

    19.99

    Annual fee

    299
    St.George Vertigo Platinum - Online Offer
    St.George Vertigo Platinum - Online Offer

    Interest rate

    12.74

    Annual fee

    99

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    105 Responses

    1. Default Gravatar
      KylieSeptember 20, 2017

      Hi. as st george are owner by westpac and my debts with westpac would i be better to take my b/t to virgin..

    2. Default Gravatar
      LouiseAugust 25, 2017

      How does doing a Balance Transfer affect your credit rating? Is it seen as a negative and if you do too many of these does that affect your credit rating in a negative way?

      • Staff
        ArnoldAugust 25, 2017Staff

        Hi Louise,

        Thanks for your inquiry.

        We can’t say how long it stays on your credit rating. Any change in your credit use can affect your score, but over time this could be a positive change. Transferring a balance from one credit card to a new card may add an inquiry to your file, which could cause a temporary, small decrease. Your balance-to-limit ratio also is called your utilization rate.

        Hope this information helped.

        Cheers,
        Arnold

    3. Default Gravatar
      MarkJuly 14, 2017

      Is there an interest free balance transfer card which lets you transfer a personal loan?

      • Staff
        RenchJuly 14, 2017Staff

        Hi Mark,

        Thanks for your inquiry.

        Yes, you can have a look on this page for helpful information on how you can balance transfer a personal loan to a credit card. You may also compare your options from there.

        Cheers,
        Rench

    4. Default Gravatar
      KathyMay 16, 2017

      If you have not repaid your long term balance credit card transfer in the specified time can you then transfer the remaining amount owing to another balance transfer credit card.

    5. Default Gravatar
      GaryMarch 1, 2017

      I have had some trouble in the past – bankrupt in 2008 – so its all come and gone – I have applied for a transfer with bank west but I said I wasn’t acceptable – could that be what the issue is? – my income is steady, and I certainly have capacity to repay 50 per months on the balance

      • Staff
        MayMarch 3, 2017Staff

        Hi Gary,

        Thanks for your question.

        Generally, credit cards are not available to people who had been bankrupt. You may want to get more information on this here.

        Cheers,
        May

    6. Default Gravatar
      MkdNovember 21, 2016

      My husband and I have a credit card I am the primary card holder and he has a secondary card since having it I no longer work as I stay at home with the kids. We would like to transfer our balance however the new card would have to have him as the primary as it would rely on his income for the application. My question is will it be possible to still transfer our current credit card to another or will we have to change him to the primary?

      • Staff
        AnndyNovember 21, 2016Staff

        Hi Mkd,

        Thanks for your question.

        Yes, there are credit cards that allow balance transfers between two people’s names. You can check which credit card companies offer those through this page. Once you have selected a bank, just click on its logo so you’ll be able to check and compare your credit card options. Your husband can apply for any of these cards, then request for an additional card for you, once approved.

        Please do check the eligibility criteria first before submitting an application online.

        Cheers,
        Anndy

    7. Default Gravatar
      ChrisJune 24, 2016

      I would like to consolidate debts on a cc and a store card. There are multiple direct debits from the cc. Would I need to contact all the companies debiting from the card or would the new cc company do this for me?

      Thank you

      • Staff
        MayJune 28, 2016Staff

        Hi Chris,

        Thanks for your inquiry.

        A balance transfer is essentially the process where you transfer the balance (any money you owe on your current credit card) to a new credit card with another financial institution and this process does not include the direct debit arrangement you had with your current credit card.

        Basically, if you’re doing a balance transfer to consolidate your credit card debts, the new card company (where you transfer the balance to) does not have the information of the direct debit of your old card. Please also note that these direct debit arrangements will not be automatically transferred to your BT credit card nor the new card issuer will contact the merchants/ companies you’ve had arranged with direct debits.

        So, if you want to change the credit card for your direct debit payments, you’ll need to contact the merchant/company and inform them of your new credit card information.

        Cheers,
        May

    8. Default Gravatar
      AdamJune 5, 2016

      Hi,

      I have 20k on a credit card and 40k as a personal loan.
      Am I able to transfer both debts onto one interest free card?

      Cheers

      • Staff
        MayJune 6, 2016Staff

        Hi Adam M,

        Thanks for your inquiry.

        The Citibank and Virgin Money are the credit card issuers that accept a balance transfer from personal loans and credit cards. You can actually compare your options on this page. However, please keep in mind though that the total amount you can transfer to a new single card should not exceed the credit limit you’ll be approved for.

        Cheers,
        May

    9. Default Gravatar
      SarahMay 25, 2016

      Am I able to transfer a personal loan as a balance transfer onto an interest free credit card?

      • Staff
        AnndyMay 25, 2016Staff

        Hi Sarah,

        Thanks for you question.

        You should be able to transfer your personal loan to any of the credit cards listed on this page. These cards come with 0% balance transfer rate offer for a limited time.

        Cheers,
        Anndy

    10. Default Gravatar
      DiMarch 17, 2016

      What is the highest amount you can transfer to 0% transfer to new credit cards

      • Staff
        SallyMarch 17, 2016Staff

        Hi Di,

        Thanks for your question.

        The amount you can transfer will depend on the card. Usually the limit is based on a percentage of the approved credit limit.

        If you can confirm which card you’re looking at, we’ll be able to provide you with further information.

        Cheers,

        Sally

    Credit Cards Comparison

    Rates last updated November 22nd, 2017
    Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
    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.
    Qantas Premier Platinum
    19.99% p.a.
    0% p.a. for 15 months
    $149 p.a. annual fee for the first year ($299 p.a. thereafter)
    Fly faster with up to 2 Qantas Points per $1 spent, receive 2 yearly complimentary Qantas Club lounge invitations, plus, included travel insurance.
    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 apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
    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.

    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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