No Annual Fee Balance Transfer Credit Cards

Repay your existing credit card debt interest-free with no costs 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.

American Express Essential Credit Card

Balance Transfer Credit Card Offer with No Annual Fee

The new American Express Essential™ Credit Card offers a low interest rate on purchases, no annual fee, Membership Rewards points and a promotional balance transfer rate.

  • Earn up to 1 point for every $1 spent on purchases.
  • Transfer your points to a choice of 8 Airline Rewards Partner Programs.
  • Enjoy a low interest rate of 14.99% p.a. on purchases.
  • Enjoy 0% p.a. on balance transfers for the first 12 months. Conditions apply.
  • Smartphone Screen Insurance for up to $500 for screen repairs to your smartphone with 10% excess per claim. Up to 2 claims per 12-month period.
  • Receive a $50 credit if you are a new Card member when you apply online, are approved and spend $750 within the first 3 months of Card Membership.

    Compare No Annual Fee Balance Transfer Credit Cards

    Rates last updated December 11th, 2016.

    American Express Qantas Discovery Card

    The spend criteria for the bonus points has been changed from $300 to $750.

    October 4th, 2016

    Virgin No Annual Fee Credit Card

    Balance transfer and $100 cashback offers have been extended to 16 January 2017.

    November 1st, 2016

    Citi Simplicity Card

    5% cash back + 0% p.a. for 9 months on balance transfers. Offer ends 30 June 2017.

    November 18th, 2016

    View latest updates

    Jonathan Choi Jonathan
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    American Express Essential Credit Card
    Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
    14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
    Virgin No Annual Fee Credit Card
    No annual fee for the life of the card with $100 cashback and a 0% p.a. offer on balance transfers for 18 months. Spend criteria applies for cashback offer.
    18.99% p.a. 0% p.a. for 18 months with 2% balance transfer fee $0 p.a. Go to site More info
    ANZ Frequent Flyer Black
    Earn 75,000 bonus Qantas Points after you spend $2,500 on eligible purchases within the first 3 months plus enjoy $0 annual fee for the first year. Plus, enjoy easy payments with Apple Pay.
    19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info
    HSBC Platinum Credit Card
    Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
    19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
    American Express Qantas Discovery Card
    Enjoy up to 7,500 bonus Qantas Frequent Flyer Points and 1 point per $1 spent, plus 0% p.a. on balance transfers for 12 months, all for a $0 annual fee.
    20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
    ANZ Platinum Credit Card
    Enjoy platinum card benefits with $0 annual fee in the first year and complimentary overseas travel and medical insurance.
    19.74% p.a. 0% p.a. for 18 months with 3% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
    ANZ Platinum Credit Card - Exclusive Offer
    Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
    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) Go to site More info
    Citi Simplicity Card
    Take advantage of the 0% p.a. for 9 months offer on balance transfers, a low interest rate on purchases, an annual fee waiver for life, plus 5% cashback on retail purchases.
    19.99% p.a. 0% p.a. for 9 months $0 p.a. Go to site More info

    The finder.com.au 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 18 months with 2% balance transfer fee$0 p.a.
    HSBC Platinum Credit Card0% p.a. for 15 months$0 p.a.
    0% p.a. for 18 months with 3% balance transfer fee$0
    0% p.a. for 12 months with 1% balance transfer fee$0 p.a.

    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

    What if my credit history is less than perfect?

    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.

    How much can I transfer?

    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.

    Are balance transfer cards the best financial option?

    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.

    Can I use balance transfer to pay off my car debt or other heavy loans?

    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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    American Express Essential Credit Card
    American Express Essential Credit Card

    Interest rate

    14.99

    Annual fee

    0
    ME Bank frank Credit Card
    ME Bank frank Credit Card

    Interest rate

    11.99

    Annual fee

    0
    HSBC Platinum Credit Card
    HSBC Platinum Credit Card

    Interest rate

    19.99

    Annual fee

    149

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    16 Responses to No Annual Fee Balance Transfer Credit Cards

    1. Default Gravatar
      rene | March 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
        Ally | April 5, 2016

        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.

        Cheers,
        Ally

    2. Default Gravatar
      Angela | July 28, 2015

      Hi,
      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?
      Thanks

      • Staff
        Jonathan | July 28, 2015

        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.

        Cheers,

        Jonathan

    3. Default Gravatar
      Lance | February 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
        Jonathan | February 11, 2015

        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.

        Cheers,

        Jonathan

    4. Default Gravatar
      dene | September 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
        Elizabeth | September 30, 2014

        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.

        Thanks,

        Elizabeth

    5. Default Gravatar
      steve | September 19, 2014

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

      • Staff
        Shirley | September 19, 2014

        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,
        Shirley

    6. Default Gravatar
      clement | July 4, 2014

      Hi,

      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
        Shirley | July 7, 2014

        Hi Clement,

        Thanks for your question.

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

        Cheers,
        Shirley

    7. Default Gravatar
      Salim | April 25, 2014

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

    8. Default Gravatar
      | July 25, 2013

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

      • Staff
        Jacob | July 25, 2013

        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 December 11th, 2016
    Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
    Virgin Australia Velocity Flyer Card - Balance Transfer Offer
    Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
    20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
    ME Bank frank Credit Card
    Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
    11.99% p.a. $0 p.a. Go to site More info
    HSBC Platinum Credit Card
    Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
    19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
    NAB Low Rate Credit Card
    The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
    0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
    HSBC Platinum Qantas Credit Card
    Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
    19.99% p.a. $199 p.a. Go to site More info

    * 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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