Best balance transfer credit cards in Australia

How we calculate Balance Transfers Credit Card Finder Scores

Read full methodology

What different scores mean

9+

Excellent

These cards offer the longest 0% interest periods, lowest balance transfer fees, and competitive revert rates for maximum savings.

7+

Great

Tackle debt with generous interest-free periods, reasonable balance transfer fees, and potential for additional perks.

5+

Standard

Reduce interest costs with reasonable interest-free periods and balance transfer fees.

0+

Basic

These are generally cards aimed as general audiences which include a balance transfer feature.

Our best balance transfer offers for April 2025

Here are some of the best balance transfer credit cards on the market, based on their Finder Score:

• The ANZ Low Rate - Balance Transfer Exclusive Offer has a Finder Score of 9.9. It has a 0% balance transfer offer for 28 months.
• The Virgin Money Anytime Rewards Credit Card - Balance Transfer Offer has a Finder Score of 9.75. It has a 0% balance transfer offer for 24 months.
• The Virgin Australia Velocity Flyer Card - Balance Transfer Offer has a Finder Score of 9.75. It has a 0% balance transfer offer for 24 months.
• The St.George Vertigo Card has a Finder Score of 9.53. It has a 0% balance transfer offer for 24 months.
• The Bank of Melbourne Vertigo Card has a Finder Score of 9.53. It has a 0% balance transfer offer for 24 months.
• The BankSA Vertigo Card has a Finder Score of 9.53. It has a 0% balance transfer offer for 24 months.
• The Westpac Low Rate Card has a Finder Score of 9.53. It has a 0% balance transfer offer for 24 months.

Updated April 2025 by Finder's money editor, Richard Whitten.

Best overall balance transfer - ANZ Low Rate - Balance Transfer Exclusive Offer

ANZ Low Rate - Balance Transfer Exclusive Offer

• 0% Balance Transfer & $0 First-Year Annual Fee
• $0 Annual fee
• 13.74% Purchase rate

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Ends on 17 April 2025

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Pros & cons

• 0% p.a. interest on balance transfers for 28 months
• $0 annual fee for the first year ($58 p.a. thereafter)
• Ongoing low purchase interest rate of 13.74% p.a.

• Balance transfer reverts to the high standard interest rate of 21.99% p.a. at the end of the introductory period

Best low rate balance transfer card - Westpac Low Rate Card

Westpac Low Rate Card

• 0% Balance Transfer Offer
• $59 Annual fee
• 13.74% Purchase rate

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Pros & cons

• 0% p.a. for the first 24 months on balance transfers
• Low 13.74% p.a. interest rate on purchases
• $0 first-year annual fee for existing customers

• Charges a one-time 2% balance transfer fee
• Balance transfer reverts to the high cash advance rate of 21.99% p.a. after the introductory period

Best 24-month balance transfer - St.George Vertigo Card

St.George Vertigo Card

• 0% Balance Transfer Offer
• $55 Annual fee
• 13.99% Purchase rate

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Pros & cons

• Get 0% p.a. on your balance transfer for 24 months
• A low annual fee of $55
• Shopping cashbacks through ShopBack
• Competitive purchase rate of 13.99% p.a.
• Finder Score of 9.53 for balance transfers

• There's a one-time balance transfer fee of 2%
• Balance transfer rate reverts to 21.99% p.a. at the end of the introductory period
• No rewards program, travel perks or insurance cover

Want more great credit cards? Check out all the Finder Credit Card Award Winners.

Looking for a flexible alternative to a balance transfer credit card?

Promoted

Need ongoing access to funds? Consider Citi Ready Credit

Citi Ready Credit offers a flexible credit line with limits of up to $75,000. You only pay interest on the money you spend.

• Line of credit rate: 22.49% p.a.
• Introductory balance transfer rate: 6.9% p.a. for the first 3 years on your initial balance transfer (if you request within 3 months of approval; reverts to standard variable rate of 22.49% p.a. after that)

This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.

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What is a balance transfer credit card?

A balance transfer is a credit card offer for people with unpaid credit card debts.

You can move the debt onto a new credit card via a balance transfer offer. The strongest balance transfer offers give you 0% interest for up to 28 months, letting you pay off your debt without having to worry about super high interest charges.

A balance transfer offer is a debt-busting lifeline for people with big credit card debts. The key thing is to make sure you pay it off and avoid spending too much on the new card.

The average Australian credit cardholder with credit card debt carries an interest accruing balance of $1,569, based on RBA data.

Sounds great! What's the catch?

There's no catch. But...

• Your new card provider may charge a one-off balance transfer fee of 1–3% of your balance.
• At the end of the balance transfer period the 0% interest rate reverts to a much higher rate (often above 20%). Pay it off before this happens.
• You will get charged interest on any new spending you do on the card. This is called the purchase rate.

The key to making a balance transfer work

1. Once the balance transfer is complete, start paying the debt off.
2. Figure out a realistic amount you repay each month (and stick to it).
3. Close the old credit card (the one you used to rack up the debt). That way it won't get you into any future trouble.
4. Look at your past spending. Figure out where you went wrong with the old card. You have to avoid making the same mistakes with your new card.

Does transferring credit card balances affect your credit score?

When used correctly, a balance transfer credit card can help you repay your debt and improve your credit score in the long-term. But applying for a new credit card leaves a hard enquiry on your credit report (and may decrease your score for a month or two).

Try to avoid applying for multiple cards. This will lower your credit score. Missing repayments on the balance transfer card will also hurt your credit score.

How to compare balance transfer credit cards

• Look for a long offer. The longer the offer term, the more time you'll have to pay off your debt for a low or 0% rate. Make sure the first thing you do is compare credit cards.
• Watch out for the transfer fee. Most cards charge a balance transfer fee. This one-off fee is 1% to 3% of the amount you transfer.
• Find a 0% balance transfer rate. The best balance transfer credit cards in Australia offer 0% interest for the promotional period.
• Take note of the revert rate. If you haven't paid off the balance transfer by the end of the offer period, the higher revert interest rate will be charged on your leftover debt.
• Check the eligibility. You can usually transfer a balance from Australian-issued cards or accounts, as long as they are from a different issuer. Some cards also allow you to transfer debts from personal loans and lines of credit.
• Know your limits. On some cards you can only transfer up to a percentage of your approved credit limit (usually 70% - 100%). You can see Finder's guide to balance transfer limits for more information.

Pros and cons of balance transfer credit cards

"I got into some credit card trouble in my early twenties. I was stuck with over $5,000 of debt on a Commonwealth Bank credit card that I should never have taken out. That might not seem like a lot to some people, but I was struggling financially at the time, and the interest was crippling. I took out an ANZ balance transfer card and was able to get zero interest for 18 months, which gave me a lot more space to pay the thing off."

Tim Bennett

Insurance expert

Is a balance transfer credit card right for me?

A balance transfer credit card is really useful if you are struggling with unpaid credit card debt - and interest - from one or multiple cards.

Still not sure if a balance transfer card is right for you? Ask yourself these questions first.

1. Is there a way I can pay off my balance without getting a new card?
2. Can I afford the fees that come with the new card?
3. Will I be able to pay my balance off before the 0% period ends?
4. Am I eligible for this credit card? Is my application likely to be rejected?

Check your credit score before you apply for a card.

"I used to work for a credit card company in the call centre and helped hundreds of people with balance transfers. These are the 3 most important things to know:

1. If you take out a card with a balance transfer offer, use it for the balance transfer and nothing else. If you make purchases on it, that money is charged at a different and often higher purchase rate and more spending makes it harder to pay off your balance.
2. Don't miss a payment or you'll end up reverting to the purchase rate. Set up auto-payments from your bank account.
3. Don't assume it's not worth it. Even on a $5K balance, you could save more than $1,500 in interest if you drop from a standard purchase rate to 0%."

Taylor Blackburn

Money Expert

What's the best way to pay off a balance transfer credit card?

1. Make a plan. Look at your budget and see how much you spend and save each month. Figure out how much you can use to pay off the balance. If there's not much money, try to find ways to cut back, like cutting out subscriptions or unnecessary expenses. Use the savings to pay down your balance.
2. Set up auto-pay. Your bank should offer you a way to automatically set up a monthly card payment. This means you'll never miss a card payment, as long as there's money in your account.
3. Do the maths. Take your unpaid balance and divide it by the number of months on your 0% balance transfer offer. Let's say you have a $4,000 balance to repay and a 26-month balance transfer offer. You need to repay $154 a month.
4. Avoid getting into further debt. Recognise the money mistakes that got you into trouble in the first place. Try not to spend wildly on the new credit card (if possible, don't use it for new spending it all and just pay off the balance).

Set yourself up for success by setting up direct debit payments from your bank account each month. Watch as your balance goes down, and make sure it's paid off before the balance transfer period ends.

Struggling with debt? Help is available

It's easy to get into trouble with a credit card. Sometimes it's easy to sort this out with some careful budgeting and a balance transfer.

But if you've got multiple, serious debts, bad credit history, or other issues that seem to make it impossible to get back on track financially, it's much harder.

• Hardship support is available. If you're struggling, talk to your bank, card company, utility or other service provider. These companies have hardship support schemes in place. You might be able to get extra time to pay a bill, or a pause on loan repayment.
• Free financial counselling. You can also call the National Debt Helpline on 1800 007 007 and get free financial counselling and support.

2025 Finder Balance Transfer Credit Card Awards winners

Each year the Finder Credit Card Awards recognises Australia's top credit cards, with expert analysis of rates, fees and offers based on 12 months' worth of data. Here are the top performing balance transfer credit cards.

Best Balance Transfer Credit Card: Vertigo Card (St.George/Bank of Melbourne/BankSA)

The St.George Vertigo Card won this year's balance transfer credit card award. This card combines a long 24-month balance transfer offer at 0%, with a low 1% balance transfer fee and a very competitive annual fee. This card won alongside the Bank of Melbourne and BankSA Vertigo Cards, which have identical details and features.

Highly commended

NAB Low Rate Credit Card

The NAB Low Rate Credit Card finished highly commended in the balance transfer award category. It also came in highly commended at last year's awards.

Citi Clear Card - Balance Transfer Offer

The Clear Card - Balance Transfer Offer from Citi is highly commended in the balance transfer category. This card also has a long 24-month 0% balance transfer offer.

Frequently asked questions

• What is the longest 0% balance transfer offer on the market?

  Right now, the longest balance transfer offer is 0% for 28 months. With the cards listed below, you can transfer your balance and get charged no interest while you pay it off for over 2 years.

  • ANZ Low Rate Credit Card - 26 months (with 3% BT fee)
  • Westpac Low Rate Credit Card - 24 months (with 2% BT fee)
  • St.George Vertigo Card - 24 months (with 2% BT fee)
  • Bank of Melbourne Vertigo Card - 24 months (with 2% BT fee)
  • BankSA Vertigo Card - 24 months (with 2% BT fee)
  • NAB Low Rate Credit Card - 24 months (3% BT fee)

• What happens when my balance transfer period ends?

  After the introductory period ends, the 0% interest rate ends too. If there's any debt left over, it will start to be charged interest at the revert rate.

  This rate is high, often around 20%. It's higher than the purchase rate you get charged on new card spending.

  If you haven't paid your balance off by the end of balance transfer period you could end up getting charged more interest than you were on your old card.

  This is why it's so important to plan your repayments and pay off as much of your debt as possible during the introductory period

• What is a balance transfer fee?

  A balance transfer fee is a one-time charge that may apply when you move your debt to a new card. It's typically worth 1-3% of the balance transfer amount, but not all providers charge a balance transfer fee.

  To give you an idea of the cost, transferring $5,000 onto a card with a 1.5% balance transfer fee would add $75 to the balance.

• What happens if I put purchases on a 0% balance transfer credit card?

  Unless the card offers an interest-free period for the purchases, you'll be charged interest on them. So, you'd need to make sure you could repay your purchases and the balance transfer debt. Otherwise, you'll waste your 0% balance transfer offer.

• What happens if I keep my old card open?

  When transfering an existing balance to a new card, it's your responsibility to contact your provider and close the old account. If you don't, you could end up paying account costs for a card you're not using - or worse, rack up debts on both cards. Before you close the card, make sure the balance is completely transferred or paid in full and move any regular payments such as (direct debits) to another account.

• Can I do a balance transfer on a Commonwealth Bank credit card?

  The Commonwealth Bank stopped accepting balance transfer applications in December 2023. This means you can no longer move an unpaid balance from another card onto a new Commonwealth Bank credit card.

  However, you can still transfer your Commonwealth Bank credit card balance to another bank.

Why you can trust Finder's credit card experts

Addicted to details - We track and review nearly 100 balance transfer cards (that's literally as many as we can find), and live score products daily to bring you the best 0% offers for the longest time periods.

Sort the junk from the gold - we know even just 1% or another month can mean big bucks in your pocket. That's why we'll always prioritise showing you cards with the best offers.

No BS - we're not owned by a bank, we don't have a call centre. Our only mission is to match you with the card of your dreams. Whether it's your first card, or you have 3 on the go - we got you.

To make sure you get accurate and helpful information, this guide has been edited by Sarah Megginson as part of our fact-checking process.

Written by

Richard Whitten

Money Editor

Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise

Richard has written 601 Finder guides across topics including:

• Home loans
• Property
• Personal finance
• Money-saving tips