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No fee balance transfer credit cards

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

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A balance transfer credit card can be a useful tool to clear your credit card debt without paying any interest for a while. But even with an introductory 0% interest rate, some cards charge a fee to move your balance (usually around 1% to 3%).

You can use this guide to compare cards that don’t charge a balance transfer fee and to learn more about balance transfers.

Comparison of credit cards with no balance transfer fee

Data indicated here is updated regularly
$
% p.a.
Name Product Balance transfer rate Purchase rate Annual fee Amount saved
Citi Rewards Card - Exclusive Offer
0% p.a. for 30 months
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee and Citi Rewards.
HSBC Platinum Credit Card - Balance Transfer Offer
0% p.a. for 22 months
19.99% p.a.
$129
Enjoy a 22-month balance transfer offer, travel insurance and an annual fee refund when you spend an eligible $6k/year.
Coles No Annual Fee Mastercard
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$0
Save on new and existing interest charges with 0% p.a. on balance transfers and purchases for 12 months.
Coles Low Rate Mastercard
0% p.a. for 6 months
12.99% p.a.
$58
Get a low rate on purchases, $100 off a Coles Supermarket shop and a 0% balance transfer for 6 months. Plus, earn Flybuys points as you spend.
Citi Clear Card
0.9% p.a. for 15 months
0.9% for 15 months, reverts to 14.99% p.a.
$99
Save with 0.9% p.a. for 15 months on purchases and balance transfers. Plus, complimentary purchase insurance cover. Ends 16 November 2020.
Virgin Money No Annual Fee Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 18.99% p.a.
$0
Save with an ongoing $0 annual fee and 0% p.a. on balance transfers and purchases for 12 months.
HSBC Platinum Qantas Credit Card
0% p.a. for 12 months
19.99% p.a.
$99
Receive 20,000 bonus Qantas Points and a long-term balance transfer offer. Plus, complimentary travel insurance.
St.George Amplify Signature
0% p.a. for 6 months
19.74% p.a.
$139 annual fee for the first year ($279 p.a. thereafter)
Up to 200,000 bonus points (130k in the first year & 70k in the second year) when you spend $12k/year for the first 2 years.
Citi Simplicity Card
0% p.a. for 6 months
21.49% p.a.
$0
Get 0% p.a. interest for up to 6 months on balance transfers with no balance transfer fee. Plus, a $0 annual fee for life.
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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.

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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

Data indicated here is updated regularly
Name Product Purchase rate Balance transfer rate Annual fee
Citi Rewards Card - Exclusive Offer
21.49% p.a.
0% p.a. for 30 months
$49 annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee and Citi Rewards.
Coles No Annual Fee Mastercard
0% for 12 months, reverts to 19.99% p.a.
0% p.a. for 12 months
$0
Save on new and existing interest charges with 0% p.a. on balance transfers and purchases for 12 months.
Qantas American Express Premium Card
20.74% p.a.
$249
Enjoy 100,000 bonus Qantas Points, 50 bonus Status Credits and 2 complimentary Qantas Club lounge invitations per year. Ends 4 November 2020.
Citi Rewards Card - $500 Voucher Offer
21.49% p.a.
0% p.a. for 12 months
$99 annual fee for the first year ($199 p.a. thereafter)
Get a $500 e-voucher to spend at Myer, JB Hi-Fi or Coles when you spend $3,000 in the first 90 days. Plus, earn points with the Citi Rewards Program.
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* 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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