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No Annual Fee 0% Balance Transfer Credit Card

Save on card costs as you pay off your debt with a credit card that offers both 0% p.a. on balance transfers and no annual fee.

If you have existing credit card debt, moving it to a card that offers an introductory 0% p.a. interest rate on balance transfers and a $0 annual fee gives you a way to save on both interest charges and account fees.

Use this guide to compare different no annual fee and 0% balance transfer cards and learn more about them. We also go through key details to consider so that you can find a card that works for you.

Compare no annual fee balance transfer credit cards

Rates last updated May 21st, 2018
Name Product Annual fee Purchase rate (p.a.) Balance transfer rate (p.a.) Product Description
Citi Simplicity Card
$0 p.a.
19.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
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.
Qantas American Express Discovery Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn uncapped Qantas Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
American Express Velocity Escape Card
$0 p.a.
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Earn uncapped Velocity Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
Westpac 55 Day Platinum Credit Card
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
19.84% p.a.
0% p.a. for 20 months with 2% balance transfer fee
Receive a 20 month balance transfer offer, up to 55 days interest-free on purchases, a platinum concierge service and a $0 first year annual fee.
Westpac Low Rate - Online Offer
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
13.49% p.a.
0% p.a. for 26 months with 2% balance transfer fee
Take advantage of 0% p.a. for 26 months on balance transfers with a one-time 2% balance transfer fee and a $0 first year annual fee.
HSBC Platinum Credit Card
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
Take advantage of 0% p.a. for 22 months on balance transfers and $0 annual fee for the first year.
BankSA Vertigo Platinum - Online Offer
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
12.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
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

What is a no annual fee and 0% balance transfer card?

This type of credit card gives you a window of time when you can save on credit card charges, offering both a $0 annual fee and 0% p.a. interest on balance transfers during the introductory period. After that, any debt you have left from the balance transfer will be charged interest at the standard, variable rate for that card.

The $0 annual fee, on the other hand, could be offered for the first year you have the card, or for the life of the card. If you have a lot of existing debt, the introductory savings these cards offer could help you pay it off faster. Plus, if you choose a card that offers a $0 annual fee for life, it means you won't have to worry about a yearly account fee for that card – even after you've paid off your debt.

How can I compare no annual fee and 0% balance transfer cards?

These are the key features to look at when you're comparing credit cards that offer no annual fee and 0% p.a. on balance transfers:

  • Annual fee details. Check if the card offers a $0 annual fee for the first year, or no annual fee for life. These details are usually shown when you're comparing cards. You can also check a card's standard rates and fees before you apply by looking at the product page or referring to its Key Fact Sheet.
  • Balance transfer offer. Look at how long the 0% p.a. interest rate is available and decide whether or not you'll be able to pay off your debt in that amount of time. If you can't, you may want to look for a card with a longer balance transfer period.
  • Balance transfer fee. Some balance transfer credit cards charge a one-off balance transfer fee as part of the promotion. This fee is usually worth 1-3% of the debt you move onto the new card and is charged at the time of the transfer.
  • Eligible debts. Most balance transfer credit cards only accept debt from existing Australian credit card or store cards that you have with another issuer. A limited number of cards also accept debts from personal loans and lines of credit. Usually, you will only be able to transfer up to a certain amount of your approved credit limit for the card.
  • Revert rate. This is the standard variable interest rate that applies to any remaining balance transfer debt at the end of the 0% p.a. introductory period. Usually, the revert rate is the same as the card's cash advance rate or purchase rate.

Other features to consider when comparing credit cards

  • Standard interest rates. Make sure you look at the interest rate charged for purchases and cash advances to help you find a card that's affordable based on how you plan to use it.
  • Other fees. Take note of any other fees that may apply in certain situations, such as cash advance fees, foreign transaction fees and late payment charges.
  • Complimentary extras. If you're interested in perks such as complimentary travel insurance, concierge services or rewards, they may factor into your decision. However, if your goal is to pay down debt, it would be better to focus on the balance transfer offer and annual fee.

What's next?

If you want to pay 0% p.a. on your balance transfer and no annual fee, start by comparing cards on this page. You can also check out our guide to balance transfer credit cards for more information on how to move your debt to a new card, or compare other $0 annual fee cards to help you find the right card for your circumstances.

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