No fee balance transfer credit cards

Pay off your credit card debt without any interest or extra balance transfer fees.

Last updated:

A balance transfer credit card can be a useful tool to clear your credit card debt without paying any interest for an introductory period. But even with an introductory 0% interest rate, your balance transfer credit card may come with other charges. A common cost includes the balance transfer fee, which is usually around 1% to 3% of the amount you transfer to the new card. This is charged when you first move your balance and it can eat into the savings you get from the balance transfer offer.

You can use this guide to compare cards that don’t charge a balance transfer fee and to learn about other costs you should try to avoid when you’re using a balance transfer credit card.

Comparison of credit cards with no balance transfer fee

Updated January 18th, 2020
$
% p.a.
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount saved
HSBC Platinum Credit Card - Balance Transfer Offer
0% p.a. for 22 months
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
St.George Vertigo Classic
0% p.a. for 18 months
13.99% p.a.
$55 p.a.
Get 0% p.a. interest for up to 18 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
Coles No Annual Fee Mastercard
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$0 p.a.
Offers 0% p.a. on purchases and balance transfers for the first 12 months and an ongoing $0 annual fee. Plus, earn flybuys for your eligible spend.
Coles Low Rate Mastercard
0% p.a. for 12 months
0% for 12 months, reverts to 12.99% p.a.
$58 p.a.
Offers 0% p.a. interest on balance transfers and purchases for the first 12 months. Plus, earn flybuys points at Coles Supermarkets.
HSBC Platinum Qantas Credit Card
0% p.a. for 12 months
19.99% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Save with a $0 first year annual fee and a long-term balance transfer offer. Plus, complimentary travel insurance.
Westpac Low Rate Card
2019 Winner
Westpac Low Rate Card
0% p.a. for 16 months
13.74% p.a.
$59 p.a.
A no frills, low rate card offering 0% p.a. interest on balance transfers for the first 16 months, with no balance transfer fee.
St.George Vertigo Card - Exclusive Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Get a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and a 14-month balance transfer.
St.George Amplify Signature
0% p.a. for 6 months
19.74% p.a.
$139 p.a. annual fee for the first year ($279 p.a. thereafter)
Earn up to 200,000 bonus Amplify Points (130k in the first year & 70k in the second year) when you spend $12k / year for the first 2 years.
St.George Amplify Platinum - Online Offer
0% p.a. for 22 months
19.74% p.a.
$99 p.a.
Get 100,000 bonus Amplify Points when you spend $2,000 in the first 90 days. Plus, a balance transfer offer of 0% interest for 22 months.
St.George Amplify Platinum - Qantas - Online Offer
0% p.a. for 22 months
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and a 0% balance transfer for 22 months.
Westpac Altitude Platinum Qantas - Online Offer
0% p.a. for 20 months
20.49% p.a.
$200 p.a.
Get 40,000 bonus Qantas Points when you spend $2,000 within 90 days of approval. Plus, a 0% balance transfer and complimentary insurance.
Westpac Altitude Platinum Velocity - Online Offer
0% p.a. for 20 months
20.49% p.a.
$200 p.a.
Receive 40,000 bonus Velocity Points when you spend $2,000 within 90 days. Plus, a 0% p.a. balance transfer and yearly upgrade vouchers.
Westpac Altitude Platinum Card - Online Offer
0% p.a. for 20 months
20.49% p.a.
$150 p.a.
Earn 40,000 bonus Altitude Points when you spend $2,000 within 90 days of card approval. Plus, a 0% p.a. balance transfer offer for 20 months.

Compare up to 4 providers

What other costs should I look out for?

  • Revert rate. At the end of the promotional period, any remaining balances will collect interest at the revert rate. This is usually the standard cash advance or purchase rate, which can be as high as 23% in some cases. You should aim to pay your balance in full before the introductory offer ends to avoid this cost and stop yourself from falling back into debt. You can compare balance transfer cards by the revert rates for more information.
  • Annual fee. If your card doesn’t charge a balance transfer fee, it may charge an annual fee. Depending on the size of your debt, the annual fee could be more expensive than what you’d pay if you opted for a balance transfer card with $0 annual fee that charged a balance transfer fee. This is why it’s important to compare your options to find the card that offers you the biggest savings.
  • Purchase interest rate. Ideally, you shouldn’t use your card to spend while you’re paying off a balance transfer. However, it’s important to consider the purchase interest rate in case you use the card for an emergency. Remember that any repayments will go towards paying off your purchase before your balance transfer debt during the introductory period. This is because your card issuer is obligated to pay off the debt with the highest interest rate first.

How else can I compare balance transfer credit cards with no balance transfer fee?

  • Balance transfer interest rate. Most balance transfer credit cards offer 0% for a promotional period. However, you may come across some introductory balance transfer deals with higher interest rates such as 2% for the introductory period. If you pay your debt off in full, you’re likely to save more with a card that charges 0% rather than a low interest rate.
  • Length of introductory period. Interest-free balance transfers typically last for 6 to 24 months or more. It’s important that you choose a balance transfer card that gives you enough time to pay your debt off completely before the revert rate applies and you start collecting interest.
  • Balance transfer limit. While you can transfer up to 100% of the approved credit limit on some cards, others have stricter balance transfer limits. For example, some cards may only allow transfers of up to 80% or 90% of the approved credit limit. For example, if you had an approved credit limit of $10,000 and a 90% transfer limit, you could only transfer a debt of up to $9,000. Make sure that this balance transfer limit can still support your debt so you can move the entire amount to your new card.
  • Eligible banks. There may be restrictions on which credit cards you can transfer your existing balance to. Usually you can’t balance transfer between accounts managed by the same card issuer. So you couldn’t transfer a balance from one Westpac card to another Westpac product for example. See the full list of who you can balance transfer to here.

A 0% balance transfer credit card is designed to help you pay down your debt without the cost of interest, but it’s still important to consider other costs such as the balance transfer fee.

Want more options? Compare other 0% balance transfer credit cards and get your debt under control.

Image: Shutterstock.

Back to top

Related Posts

Ask an Expert

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

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

2 Responses

  1. Default Gravatar
    EdSeptember 12, 2017

    Hi, can i do transfer balance with my business credit card account? Thanks

    • Avatarfinder Customer Care
      JoanneSeptember 12, 2017Staff

      Hi Ed,

      Thanks for reaching out.
      Yes you can do a balance transfer on your business credit card. And you can also click on this link to do a side by side comparison on balance transfer credit cards.

      Cheers,
      Joanne

Credit Cards Comparison

Updated January 18th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
ANZ Frequent Flyer Black
20.24% p.a.
20.24% p.a.
$425 p.a.
Earn 120,000 bonus Qantas Points & $275 back when you spend $4,000 in the first 3 months. Plus, airport lounge passes.
St.George Vertigo Classic
13.99% p.a.
0% p.a. for 18 months
$55 p.a.
Get 0% p.a. interest for up to 18 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
Coles No Annual Fee Mastercard
0% for 12 months, reverts to 19.99% p.a.
0% p.a. for 12 months
$0 p.a.
Offers 0% p.a. on purchases and balance transfers for the first 12 months and an ongoing $0 annual fee. Plus, earn flybuys for your eligible spend.

Compare up to 4 providers

* 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.

Ask a question
Go to site