No fee balance transfer credit cards

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

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 if you’re not paying any interest, your balance transfer credit card may come with other charges. A common cost includes the balance transfer fee, which is a percentage-based fee of around 1% to 3% of the amount you’re transferring. This is charged when you first move your balance and it can eat into your overall savings.

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

Rates last updated October 21st, 2019
% p.a.

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Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
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.
Citi Rewards Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months
0% for 13 months, reverts to 21.49% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
HSBC Platinum Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$129 p.a.
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 70,000 bonus Velocity Points when you meet the spend requirement. Plus, save with a 0% interest for 18 on balance transfers.
St.George Vertigo Classic - 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.
Emirates Citi World Mastercard
0% p.a. for 9 months
21.49% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Receive up to 60,000 bonus Skywards Miles and pay half the annual fee for the first year.
Citi Clear Platinum Credit Card
0% p.a. for 9 months
0% for 9 months, reverts to 14.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.
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.
BOQ Platinum Visa Credit Card
0% p.a. for 12 months
20.74% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 1,000 bonus Q Rewards points/month, a 12-month balance transfer offer and $0 first year annual fee. Ends 31 Oct 2019.

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 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 first, as 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.


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