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Finder Awards 2020 Best Balance Transfer Credit Card

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The card offers a 0% p.a. interest rate on balance transfers for up to 22 months, with no balance transfer fee. Plus, an annual fee refund when you spend $6,000 on eligible purchases each year as well as access to Instant Savings. It offers rewards, insurance cover and lounge passes.


Methodology: Best Balance Transfer Credit Card

Here's how our expert analysts assessed the Best Balance Transfer Credit Card category to pick the 2020 winner.

Selection and scoring

Products were selected from the broader market that met these criteria:

  • Cards must offer 0% p.a. balance transfer (a one-off transfer fee is allowed)
  • Cards must not require loans or specific amounts of savings as eligibility criteria

Scores were awarded out of 10 for each product metric, based on how each metric compares to the other products in a given category.

Scores for each metric were then weighted:

  • Annual fee: 20%
  • Purchase interest rate: 2.5%
  • Revert rate: 2.5%
  • Balance transfer period: 55%
  • balance transfer fee: 20%

Tiebreakers were ranked by the lowest interest rate.

Availability criteria

Product must be available at the time of award announcement.
Products were analysed and compared to the market on the following dates:

  • 1/9/19 (Q1)
  • 1/12/19 (Q2)
  • 29/2/20 (Q3)
  • 32/5/20 (Q4)

Products must have been in the market for at least two of the four quarters, including the most recent quarter.
Quarters were weighted as follows unless otherwise stated (with Q4 being the most recent quarter):

  • Q4: 50% of final score
  • Q3: 25% of final score
  • Q2: 12.5% of final score
  • Q1: 12.5% of final score

For products only available in three quarters, the weighting is as follows:

  • Q4: 50% of final score
  • Q3: 35% of final score
  • Q2: 15% of final score

For products only available in two quarters, the weighting is as follows:

  • Q4: 60% of final score
  • Q3: 40% of final score

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