No Annual Fee Balance Transfer Credit Cards

Repay your existing credit card debt interest-free and save more money by shifting to a balance transfer credit card with $0 annual fee.

Are you burdened with high credit card fees and interest? Lower your costs and time making repayments while increasing your savings with a 0% balance transfer and no annual fee credit card. Take control of your expenses and compare your option using our guide.

Compare No Annual Fee Balance Transfer Credit Cards

Rates last updated October 18th, 2017
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.) Product Description
American Express Essential®  Credit Card
$0 p.a.
14.99% p.a.
0% p.a. for 12 months with 3% balance transfer fee
Earn 1 Membership Rewards point per $1 spent and receive a $50 bonus credit if you meet the spent criteria.
ANZ Platinum Credit Card - Exclusive Offer
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
An exclusive credit card offer through that includes complimentary insurance covers.
Qantas American Express Discovery Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn Qantas points that can be redeemed for a one way, return or multi-destination Classic Flight Reward on over 50 partner airlines.
ANZ Platinum Credit Card
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
19.74% p.a.
0% p.a. for 16 months with 2% balance transfer fee
Enjoy platinum card benefits with a 24/7 personal concierge and complimentary overseas travel and medical insurance.
Citi Simplicity Card
$0 p.a.
19.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
Earn 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from card approval.
Woolworths Everyday Platinum Credit Card
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
19.99% p.a.
0% p.a. for 14 months
Receive a $50 eGift Card when you apply by 31 January 2018 and make an eligible purchase by 28 February 2018.

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The best* no annual balance transfer credit cards

Compare the features of the balance transfer cards below.

Credit Card
Balance transfer OfferAnnual Fee
0% p.a. for 12 months with 3% balance transfer fee$0
Citi Simplicity Card0% p.a. for 15 months with 1.5% balance transfer fee$0
0% p.a. for 16 months with 2% balance transfer fee$0
0% p.a. for 12 months with 3% balance transfer fee$0

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


What is a No Annual Fee 0% Balance Transfer credit card?

A balance transfer refers to the process by which you transfer an existing debt that's accruing higher interest to a new credit card that charges a low or 0% p.a. on balance transfers for a promotional period (which is usually between 6 to 24 months). This rate will then revert to the standard purchase or cash advance rate (which is usually between 12% to 20%) at the end of the introductory period. A no annual fee card, as the name suggests, is a card that doesn't charge a regular yearly fee. Combine these features and you've got a low-fee card that allows cardholders to consolidate their debts while saving on fees. Compare your options to determine whether this type of card could work for you.

What are the benefits of a no annual fee 0% balance transfer card?

The benefits of a no annual fee 0% balance transfer card are:

  • Consolidation of debt at 0% p.a. interest. Customers can take control of their debt by transferring it to a card with a lower balance transfer rate to repay their debt without the burden of interest. Not only will this allow you to repay your debt fast, but it can also lead to dramatic savings.
  • Competitive pricing. Competitive rates and interests can allow you to manage your finances with greater ease during the balance transfer period.
  • Credit improvement. If you have multiple debts across a number cards, this can reduce your credit score. If you transfer the debt to a single card and reduce the overall amount, this could help repair your credit history.

What interest rate does my balance transfer revert to?

What are the features of a no annual fee 0% balance transfer card?

The main features of a no annual fee 0% balance transfer card are:

  • Reward programs. While consolidating your debt is a big enough incentive for most customers, an added advantage of rewards program can make the card a must have. These reward points can be earned on any eligible purchase.
  • Complimentary travel insurance. Some cards offer complimentary travel insurance which can be useful for customers who are planning for any overseas trip in the near future.
  • Interest free days. Most of the cards provide interest free periods on purchases. This effectively means that the next expense of owning the card can be absolute zero if it is used judiciously.
  • Low or zero transaction fees. These cards also provide very low or zero transaction fees on foreign transactions. This should be useful for customers dealing in the foreign currency on a regular basis.

Credit cards that allow personal loan balance transfers

What should I be wary of when comparing a no annual fee 0% balance transfer card?

  • Limited no annual fee period. Many cards offer lifetime no annual fees, however few cards also give no annual fee for only an introductory period of one year. Make sure you can afford the reverted annual fee if you plan on using the card for some time.
  • Balance transfer fee. Some cards charge a balance transfer fee, which is usually a percentage of the total transferred amount. Customers who want absolute minimum fee/charges for balance transfer should look for zero balance transfer fee cards.
  • Balance transfer promotional period. These cards generally do not allow balance transfers to the maximum credit limit of the card. Most of the cards allow balance transfer up to 70-95% of the credit limit.
  • Higher interest rate on purchase. This zero interest rate is only for balance transfers. If any new purchases are made, they will attract a much higher interest rate. In this case customers can transfer the balance to one card and look for another card with minimum interest rates on purchases to reduce their interest charges.
  • Credit history. If you have a bad credit history, you may not be approved for this type of card.
  • Financial prudence. Customers using balance transfer card generally want to reduce their interest burden and bring down their debt. It is better to carefully plan the expenses during this time to ensure timely payback of the debt before the end of the 0% interest rate period.

How to apply for a no annual fee 0% balance transfer credit card?

If you want to apply for a no annual fee balance transfer credit card, you can click on the green 'Go to Site' button on the comparison table to begin your application. Before applying though, make sure you meet the eligibility requirements and have organised the required documents on hand:

Eligibility requirements

The eligibility requirements will vary from card to card, but some of the requirements may include:

  • Age. Are you aged 18 years or older?
  • Location. Are you a permanent Australian resident?
  • Minimum income. You'll usually need to meet a minimum annual income to receive approval. The amount will vary from card to card, but they generally sit between 25,000 to 40,000 dollars p.a.
  • Existing bank. Can your existing debt be transferred to your new card? Most banks don't accept transfers from existing accounts and some also reject transfers from other banks. See which banks you can transfer between here.

Supporting documents

  • Proof of identity. You'll need to provide proof of identity, such as a driver's license or birth certificate.
  • Balance details. If you want to conduct the balance transfer, you'll need to have the details of your account and the amount you're hoping to transfer ready.

Balance transfer cards provide an ideal option to consolidate debts from different locations and reduce the interest burden on them. They provide a much needed breathing space by providing 0% p.a. interest rate for an introductory period and no annual fees. Customers should compare the cards available in the table and find the ideal option which matches their needs and financial situation.

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Frequently asked questions

Credit card firms do look at the past credit history however nothing is set in stone. It is better if the customer applies to the firm they have chosen and get a reply from them. Different firms have different policies for credit rating of the applicants, which makes it possible for customers with less than perfect credit history to also get approval.

This again varies considerably between different cards. Most of the cards mention a maximum credit limit, however you might be offered a different credit limit based on your credit history. Of the credit limit approved, a customer can use 70-95% for balance transfers. For example, if a customer is approved for $50,000 of credit limit and can use 80% for balance transfer this will allow using balance transfer for $40,000 at no annual fee and 0% p.a. for an introductory period.

This depends on the customer and how the card is used. If one uses this option to consolidate $20,000 of debt which was outstanding in 5 credit cards, it can provide a considerable break from heavy interest rates of up to 20% p.a. for a period of over 1 year. This time can be used to bring down the debt to a big extent. Other options like using debt against assets might not provide a similar deal. However this option should be used very judiciously and customers should try not to rack up any more debt.

In theory this is achievable given the fact that one can get 0% interest rate for up to 16 months. However users must take a hard look at their financials and make sure they can repay the debt within this period through their income source. Else it is possible to get sucked into a vicious loop of paying one debt with another.

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NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate


Annual fee

ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate


Annual fee

St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate


Annual fee


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18 Responses

  1. Default Gravatar
    PopoOctober 12, 2017

    Hi there,

    want to ask if I can transfer a balance from a card, which is not in my name, to a new card with balance transfer offer?


    • Staff
      MariaOctober 13, 2017Staff

      Hi Popo,

      It’s possible and you may refer to this page discussing Balance Transfers For Someone Else’s Debt.

      It includes a list of banks that offer joint balance transfers as well as balance transfer cards you can compare.

      I hope this helps.


  2. Default Gravatar
    reneMarch 31, 2016

    can I apply for balance transfer if I am the secondary holder. It is my debt and not the primary holders also
    I am on a pension.
    thank you

    • Staff
      AllyApril 5, 2016Staff

      Hi Rene,

      Thanks for your inquiry.

      Yes, some financial institutions do allow that, but since not all of them offer the same terms and conditions, it would still be best to clarify with your credit card issuer if your card provides this type of feature.

      I hope this has helped.


  3. Default Gravatar
    AngelaJuly 28, 2015

    I’ve currently got approx $7k owing on my Ignite Mastercard.
    I’m going on maternity leave, so need to apply for a 12month interest free balance transfer credit card.
    Are there any Westpac cards that allow me to do this as an existing member? Or will i need to change to a new bank to do this?

    • Staff
      JonathanJuly 28, 2015Staff

      Hi Angela,

      Thanks for your inquiry.

      You can only transfer your balances to a non-Westpac credit card. You can compare credit cards with long term balance transfer offer on this page.

      I hope this helps.



  4. Default Gravatar
    LanceFebruary 11, 2015

    I have never had a credit card, & am finding it increasinly more credit cards r becoming more of an option so what do i do B.D.15-2-1967 st George customer for most my life i hav fueral & life insurances but as i am a carer i need the option of a credit card ; my mthly pay is $1400permth & i only want 1 that as u use u pay it back & can afford $$5-600permth

    • Staff
      JonathanFebruary 11, 2015Staff

      Hi Lance, thanks for your inquiry!

      Please refer to our guide on types of credit cards on this page and see our page on 0% Purchase Credit cards on this page.

      I hope this helps.



  5. Default Gravatar
    deneSeptember 29, 2014

    looking for a 0% balance transfer card with no annual fee, any suggestions?? have about $5000 to transfer from NAB and Aussie Card.

    • Staff
      ElizabethSeptember 30, 2014Staff

      Hi Dene,

      Thanks for your question.

      Unfortunately I’m unable to suggest a specific credit card for you, as this will depend on a few different things. The page you are on is a good place to start your comparison of credit card options. The main things you want to look for is if the annual fee is only waived for the first year or if it is waived for the life of the card, how long the balance transfer promotional rate is for, what the interest rate is and also if there is a balance transfer fee. You should also check to see if you are eligible for the card before you apply.

      Hope this has helped.



  6. Default Gravatar
    steveSeptember 19, 2014

    Hi…do you track debit cards that offer access from ATM’s overseas and don’t charge exorbitant fees/conversion rates?

    • Staff
      ShirleySeptember 19, 2014Staff

      Hi Steve,

      Thanks for your question.

      Please see our comparison on travel debit cards, I hope what you were looking for is on this page.

      All the best,

  7. Default Gravatar
    clementJuly 4, 2014


    I have applied this card. Right now I need to
    send you the payslip.
    But I don’t have a fax machine.
    Can I just e-mail it or are there any other options?

    • Staff
      ShirleyJuly 7, 2014Staff

      Hi Clement,

      Thanks for your question.

      Unfortunately doesn’t handle any applications – please contact the relevant credit card issuer to discuss alternative options.


  8. Default Gravatar
    SalimApril 25, 2014

    Hi, im bridging visa holder and waiting for PR. I have two jobs. Can I apply for a credit card?

  9. Default Gravatar
    July 25, 2013

    Hi there. Is it better to have no annual fee or a low interest rate?

    • Staff
      JacobJuly 25, 2013Staff

      Hi Jadie. Thanks for your question. This really comes down to you. It depends on how you spend, and how often you spend. If you’re using your card a lot, and carrying a balance from month to month, then a low rate of interest is more important that a low annual fee as interest charges after a number of months are likely to go beyond the cost of a low rate credit card’s annual fee. But if you pay the balance of your card off each month, the interest rate is not likely to matter as you will have interest free days on purchases on your credit card. I hope this has helped. Jacob.

Credit Cards Comparison

Rates last updated October 18th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Exclusive to and available until 12 November 2017, enjoy a no BT fee, long-term balance transfer offer and complimentary insurances.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 3 months (reverts to 19.74% p.a.)
0% p.a. for 12 months
$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.
ME frank Credit Card
11.99% p.a.
$0 p.a.
Available in black or white, this no-fuss credit card offers the same rate on purchases and cash advances, plus card lock technology.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards 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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