calculate spending with a credit card

No Annual Fee 0% Balance Transfer Credit Card

There is an excellent method of lowering the costs of your credit card debts that will make it easier to pay off your credit card balance. It is called a no annual fee 0% balance transfer card.

The way such a card works is very simple. When you get approved for the card you get the option of transferring a balance from an existing credit card to the new card. Once the balance is on the new card an annual cost will be charged on it. Many of these cards also give you several months of 0% interest (no interest) on the balance you transfer.

This will reduce the cost of your credit card balance and make it easier to pay off your credit card bill. Something to be aware of is that the interest rate of 0% and annual fee free deals usually don't apply to purchases you make with the new card. They only apply to balances that you transfer.

Some other benefits of no annual fee 0% balance transfer cards

Many no annual fee 0% balance transfer cards come with other benefits as well. This makes these cards a tremendous deal for those with traditional cards with an outstanding debt. Anybody with a credit card and a balance should consider switching to one of these cards.

Many of these cards feature no annual charge for the life of the card. This means that you will never be charged an annual fee as long as you have the card.

Another really good benefit is non interest on purchases for the first 55 days you have the card. This can enable you to save money because you can pay off the balance with no interest.

A way to increase your purchasing power is get a balance transfer card that gives you points. Frequent flyer cards for example allow a person to accumulate points that can reduce the cost of flying on specific airlines. There are also cards that enable a person to get discounts at specific retailers.

How to get an annual fee free transfer card

To get a $0 annual fee charge card you will have to have a good credit rating.

These cards are generally not available to those with bad credit ratings. It is usually a good idea to check your credit rating to make sure you qualify before applying for such a deal.

A person will also generally have to have other credit cards with a balance on them to get these deals. It might be a better offer for a person with a small balance on an existing card to simply pay it off rather than get one of these.

To get an annual fee free 0% transfer account from an Australian bank you will have to be a permanent resident of Australia. Many of the card providers have income restrictions on these cards.

A person will generally have to make a make a minimum of $20,000 a year to qualify for such an offer, and you will normally have to provide proof of income in order to meet the income qualifications.

Compare no annual fee balance transfer credit cards

Rates last updated June 26th, 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 1% balance transfer fee
Earn 1.00 Membership Rewards point per $1 spent and receive a $50 bonus credit if you meet the spent criteria.
HSBC Platinum Credit Card
$99 p.a.
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
Receive an uncapped 1.00 per $1 spent and the ability to use Apple Pay.
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.
Bankwest Zero Platinum Mastercard
$0 p.a.
17.99% p.a.
2.99% p.a. for 9 months
Receive complimentary international credit card travel insurance and up to 55 interest-free days on purchases.
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 finder.com.au that includes complimentary insurance covers.
Citi Simplicity Card
$0 p.a.
19.99% p.a.
0% p.a. for 6 months
Earn 10% cashback on eligible purchases (capped at $50 per month) for the first 4 months from card approval.
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.
American Express Platinum Edge Credit Card
$0 p.a. annual fee for the first year ($195 p.a. thereafter)
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
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 $100 eGift Card when you apply by 30 June 2017 and make an eligible purchase by 31 July 2017.

Compare up to 4 providers

Back to top
Was this content helpful to you? No  Yes

Related Posts

American Express Velocity Platinum Card
American Express Velocity Platinum Card

Interest rate

20.74

Annual fee

375
ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

87
St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate

12.74

Annual fee

99

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback