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Long-term balance transfer credit card offers

Transfer your credit card debt and repay it with 0% interest for up to 26 months. Compare some of the longest balance transfer offers 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 the balance transfer offer, the more time you’ll have to pay off your debt. Learn about longer-term balance transfer offers in this guide and find answers to some of the questions most commonly asked when applying for them.

Long-Term Balance Transfer Credit Card Online Offer

St.George Vertigo Platinum - Online Offer

0% p.a. for 24 months
on balance transfers
with a one-time 1% balance transfer fee

Offer ends 30 June 2018

Eligibility criteria, terms and conditions, fees and charges apply

Long-Term Balance Transfer Credit Card Online Offer

The St.George Vertigo Platinum credit card offers a long-term balance transfer, $0 first year annual fee combined with a low interest rate on purchases when you apply online.

  • 0% p.a. on balance transfers for 24 months with a one-time 1% BT fee. Reverts to variable cash advance rate (19.49% p.a.)
  • $0 annual fee for the first year ($99 p.a. thereafter)
  • A low variable interest rate of 12.74% p.a. on purchases
  • Wide range of platinum features including complimentary overseas travel insurance and a 24/7 personal concierge service.
  • Online-only offer for new card applications. Balance transfer must be requested at card application.
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Long-term balance transfer credit card comparison

Rates last updated June 19th, 2018
$
% 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 with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits including complimentary insurance, plus first year annual fee waiver and 0% p.a. for 24 months on balance transfers.
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.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
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.
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.
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 - 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 Card - Online Offer
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Online only: Enjoy 0% p.a. interest for 24 months on balance transfers (with a one-time 1% BT fee). Plus, a $0 first year annual fee.
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.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a discounted annual fee, $100 cashback when you meet the spend requirement and 0% p.a. for 14 months on balance transfers.
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.
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.
St.George Vertigo Visa
0% p.a. for 18 months with 1% balance transfer fee
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. for 18 months balance transfer offer. Plus, up to 55 days interest-free on purchases.
BankSA Vertigo Platinum - Online Offer
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Online only: A low rate platinum card with 0% p.a. on balance transfers for 24 months. Plus, $0 annual fee for the first 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: Learn how much you can save with a long-term balance transfer today

You can find the Balance Transfer Calculator at the top of the comparison table above.

Step 1. Enter your total debt/the outstanding amount that you would like to transfer.
Step 2. Provide the interest rate that you are currently paying on your existing debt (if you don't know your interest rate right now, the average is around 18-20%).
Step 3. Check out the "Amount Saved" column to find out which credit card 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" header 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 best suits your needs. If you want to find out more about a particular credit card, click the "More info" link for a full review of the features and benefits.balance transfer calc

What is a long-term balance transfer offer?

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 offer the lower rate for a longer period of time, typically 9, 12 or 18 months or more. Balance transfer offers charge a lower interest rate over the promotional period so that you can save money and repay your debt with ease.

What is the process of transferring a credit card balance?

Customers can apply for a long-term balance transfer credit card by requesting it during the online application process (or after credit card approval with some specific banks). Once the balance transfer credit card 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 the promotional period because after this period has ended, the interest rate reverts to the much higher standard interest rate or cash advance rate.

What types of long-term balance transfer credit cards are available?

  1. No-frills balance transfers. You can choose to transfer your debt onto a standard credit card that doesn't have any features that you won't use. If you're seriously dedicated to paying off your debt, then these types of credit cards won't motivate you to spend any more money because of the lack of rewards and features. The interest rate is typically either:
    - 0% on balance transfers for up to 9 months (sometimes more)
    - A low interest rate on balance transfers (eg, 0.99%, 1.9%, 3.9%) for a longer period of time (eg, 12, 15, 18 or even 30 months)
  • Platinum balance transfers. If you have a high credit limit, you may want to transfer your debt onto a Platinum credit card. These types of cards often offer complimentary travel insurance as well as a range of features to motivate you to spend more. They are often linked to a reward system as well, so they're not a great idea if you want to remain dedicated to paying your debt back quickly without using the card to make any more purchases.
  • Reward and frequent flyer balance transfers. These types of credit cards allow you to earn points on eligible purchases. While you won't earn points for transferring your balance, you still get more value out of any purchases made with the card. Be mindful that if you carry a balance on a reward credit card, the interest charges will often negate the benefits that the reward points provide.

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

  • Promotional period. This is the time in which the balance transfer interest rate will apply. A longer-term promotional period is usually considered to be 9 months or longer, though some offers have a promotional period of just 4 or 6 months.
  • The balance transfer interest rate. This is the interest rate that the balance that you've transferred is charged for the promotional period. Some of the better offers have a 0% balance transfer rate, but you'll find that for a longer promotional period, the balance transfer interest rate is usually between 1.5% and 5%. This is when you should use your judgement to determine how long you'll need to repay your credit card debt.
  • Balance transfer limit. This determines the maximum amount that you can transfer to your new credit card. The rule for long-term balance transfers is that you can't transfer more than your approved credit limit. A common industry standard is a limit of 95% of your approved credit limit. So for an approved credit limit of $10,000, the maximum amount that you can transfer to the new card is $9,500. A few balance transfer credit cards have minimum and maximum amounts that can be transferred.
  • 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.
  • Revert rate. Have a look at whether the balance transfer interest rate reverts to the purchase rate or cash advance rate after the promotional period is over. The purchase rate is generally lower than the cash advance rate, but for balance transfer credit cards, both rates tend to be quite high.

Key considerations for a balance transfer

Pros and cons of a long-term balance transfer

Pros

  • More time to pay off your debt. Two years allows more time for customers to get on top of their finances and pay down their debt at a lower interest rate.
  • Pay less interest. With a lower (or no) interest rate, customers with a sizeable credit card debt can save money in interest and pay down their debt sooner.

Cons

  • Revert rate. The revert rate of your balance transfer credit card is either the purchase rate or cash advance rate, so it's important to have your balance paid off before the promotional period ends. If this is not possible, consider performing another balance transfer if you are in a position to apply for another balance transfer credit card.

What rate does your balance transfer 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 from the day of the purchase. Purchases won't be covered under the promotional balance transfer interest rate and this defeats the purpose of trying to pay back your original debt.
  • Leaving an unpaid balance after the promotional period. The balance transfer interest rate will revert to either the purchase rate or, more commonly, the cash advance rate after the promotional period has finished. These rates 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 banks won't allow you to perform a balance transfer from one of their cards to another of their cards (or one of their affiliates' card), unless specifically stated in their terms and conditions.

FAQs

Credit Card Offers

Important Information*
Westpac Low Rate Card
Westpac Low Rate Card

Interest rate

13.49

Annual fee

59
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

129
St.George Vertigo Platinum - Online Offer
St.George Vertigo Platinum - Online Offer

Interest rate

12.74

Annual fee

99

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115 Responses

  1. Default Gravatar
    BernardApril 24, 2018

    Hi

    I am searching for a credit card associated with the Qantas Frequent Flyer program, that has 0% interest on balance transfers. Does one exist?

    Thanks

    • Staff
      JeniApril 24, 2018Staff

      Hi Bernard,

      Thank you for getting in touch with finder.

      Please check out this link for credit cards that offer 0% balance transfer for some months and earning rewards at the same time.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  2. Default Gravatar
    ElizabethApril 10, 2018

    Are you able to clarify whether most lenders will allow balance transfers on multiple cards to one or whether they will only do this if specified?

    • Staff
      JoanneApril 10, 2018Staff

      Hi Libby,

      Thank you for visiting finder, we are a financial comparison website and general information service.

      There are banks that allow balance transfers from multiple cards. When you request a balance transfer and complete a credit card application, you can usually nominate to move debt from multiple existing credit card accounts. So, it’s useful to have the details of your existing account handy before you start your application. The exact number of debts you can transfer may vary between banks, but you can usually transfer between one to four debts to a new account. If you’re approved for the balance transfer, your debts will be consolidated into a single balance on your new card within one or two weeks.

      A balance transfer can be very helpful for individuals with multiple credit card debts. If you’ve decided to go ahead with this process, make sure you carefully research the market, compare available card offers and weigh up your options before choosing the right balance transfer credit card for you.

      You can use this guide as balance transfers from multiple cards is discussed on the page in detail, as well as comparison between banks that allow for this feature.

      Cheers,
      Joanne

  3. Default Gravatar
    RoryMarch 22, 2018

    Hi, when the card issuer has a condition of 80% limit transfer, what is it that they are indicating? does this mean that if I have a $20K limit with my current card issuer that they will only take on $16K? or is it based on my borrowing capacity with them? that they’ll buy 80% of the debt. So If my borrowing power is let’s say $40K would I then be able to transfer the full amount being within my total $32K borrowing capacity?
    Thanks in advance for your reply,

    • Staff
      JeniMarch 22, 2018Staff

      Hi Rory,

      Thank you for getting in touch with finder. The balance transfer limit means the certain percentage that you can transfer using your credit card. Let’s say it is 80% of the available credit limit like in your example. If your new credit card has a credit limit of $20,000 and you have not used it to purchase anything then the 80% that you can transfer is $16,000.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  4. Default Gravatar
    KarenMarch 12, 2018

    Hi I have a nab credit card earning virgin points with $6000 debt with high interest I would like the best way to transfer to a low rate with virgin points which one do you recommend thanks.

    • Staff
      NikkiMarch 22, 2018Staff

      Hi Karen,

      Thanks for visiting finder – A leading comparison website and general information service built to give you advice in your buying decision needs.

      Here are the cards that earn Velocity points. You can choose from the ones that allow 0% Balance Transfers at the same time. You may refer to this page for your options.

      Hope this information was useful.

      Best Regards,

      Nikki

  5. Default Gravatar
    December 10, 2017

    I am now aged and resident in an old age facility.

    My only income now is old age pension. I wish therefore to cut down repayments on cards.

    My total outstanding is $6000. By ditching my cards and transferring to one only I can in effect just concentrate on repaying only with longest 0 interest. and no balance transfer fee.

    Your comments will be awaited with interest particularly as my net income is now so low

    • Staff
      RenchDecember 12, 2017Staff

      Hi Arthur,

      Thanks for reaching out to us.

      Debt consolidation is the process of rolling all your outstanding debts into one loan, with the ultimate goal of paying off your debts at a lower rate. Consolidating loans works for some people and doesn’t for others – it depends entirely on your financial situation. People with bad credit can also consolidate debt to get back in control of their finances & pay back their debts.

      To find out if a debt consolidation loan is right for you, you may read our guide on this page and compare your options.

      Hope this information helped.

      Best regards,
      Rench

  6. 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..

  7. 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

  8. 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

  9. 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.

  10. 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

Credit Cards Comparison

Rates last updated June 19th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Westpac Low Rate Card
13.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$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.
American Express Westpac Altitude Platinum Bundle - Qantas - Exclusive Offer
20.24% p.a.
$50 p.a. annual fee for the first year ($249 p.a. thereafter)
Up to 90,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
NAB Low Fee Card
19.74% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
Citi Platinum Credit Card - 100k Bonus Points
20.99% p.a.
0% p.a. for 15 months with 1% balance transfer fee
$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.

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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