0% Balance Transfer Credit Cards [November 2024 Deals] - Finder

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Name

Purchase rate p.a.

Annual fee

Balance transfer rate p.a.

Amount Saved

Kogan Money Card – Exclusive Offer

ExclusiveKogan Rewards Program

Kogan Money Card – Exclusive Offer

ExclusiveKogan Rewards Program

Product Name	Kogan Money Card – Exclusive Offer
Rewards program	Kogan Rewards Program
Balance transfer rate p.a.	0% for 18 months with 1% balance transfer fee, then 22.74%
Balance transfer limit	80% of available limit
Purchase rate p.a.	21.99%
Annual fee	$0
Interest-free period	Up to 44 days on purchases
Cash advance rate p.a.	22.74%
Min credit limit	$6,000
Card type	Visa
Foreign currency conversion fee	3.4%

Rewards program	Kogan Rewards Program
Bonus points
Rewards points per $ spent	1
Rewards points cap	Uncapped

Annual fee	$0
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.4%
Cash advance fee	3.5% or $5, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$0
Number of additional cardholders	4

Pros

No annual fee
0% p.a. for 18 months on balance transfers
Low 9.99% p.a. purchase rate for 18 months
Uncapped reward points
Complimentary Kogan First membership

Cons

Balance transfer offer has a 1% BT fee
A high 22.74% p.a. interest rate on balance transfers after the introductory period
A 21.99% p.a. interest rate on purchases applies at the end of the introductory period
No interest-free days if you have a balance transfer

Purchase rate p.a.

9.99% for 18 months, then 21.99%

Annual fee

$0

Balance transfer rate p.a.

0% for 18 months with 1% balance transfer fee, then 22.74%

Amount saved

$1,285.99 over 18 months

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Save with 0% p.a. interest on balance transfers (with a 1% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.

NAB Low Rate Credit Card

NAB Low Rate Credit Card

Product Name	NAB Low Rate Credit Card
Rewards program
Balance transfer rate p.a.	0% for 24 months with 3% balance transfer fee, then 21.74%
Balance transfer limit	90% of available limit
Purchase rate p.a.	13.49%
Annual fee	$59
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.74%
Min credit limit	$1,000
Card type	Visa
Foreign currency conversion fee	3.5%

Annual fee	$59
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3.5%
Cash advance fee	3% or $3, whichever is greater
Overseas cash advance fee
Additional cardholder fee	$0
Number of additional cardholders	1

Purchase rate p.a.

13.49%

Annual fee

$59

Balance transfer rate p.a.

0% for 24 months with 3% balance transfer fee, then 21.74%

Amount saved

$1,443.89 over 24 months

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Compare

Get a 0% p.a. interest rate on balance transfers for the first 24 months (with a 3% BT fee).

Westpac Low Rate Card

Westpac Low Rate Card

Product Name	Westpac Low Rate Card
Rewards program
Balance transfer rate p.a.	0% for 26 months with 2% balance transfer fee, then 21.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	13.74%
Annual fee	$59
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$500
Card type	Mastercard
Foreign currency conversion fee	3%

Annual fee	$59
Minimum monthly repayment	2% of the closing balance or $10, whichever is greater
Late payment fee	$15
Foreign currency conversion fee	3%
Cash advance fee	3%
Overseas cash advance fee	2%
Additional cardholder fee	$0
Number of additional cardholders	1

Purchase rate p.a.

13.74%

Annual fee

$59

Balance transfer rate p.a.

0% for 26 months with 2% balance transfer fee, then 21.99%

Amount saved

$1,553.37 over 26 months

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Compare

Save with a 0% p.a. interest rate on balance transfers for 26 months (with a 2% BT fee). Plus, a low 13.74% p.a. purchase interest rate.

Bankwest Breeze Classic Mastercard

Bankwest Breeze Classic Mastercard

Product Name	Bankwest Breeze Classic Mastercard
Rewards program
Balance transfer rate p.a.	0% for 24 months with 3% balance transfer fee, then 12.99%
Balance transfer limit	95% of available limit
Purchase rate p.a.	12.99%
Annual fee	$49
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$1,000
Card type	Mastercard
Foreign currency conversion fee	2.95%

Annual fee	$49
Minimum monthly repayment	2% of the closing balance or $20, whichever is greater
Late payment fee	$25
Foreign currency conversion fee	2.95%
Cash advance fee	3% or $4, whichever is greater
Overseas cash advance fee	3% or $4, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	3

Purchase rate p.a.

12.99%

Annual fee

$49

Balance transfer rate p.a.

0% for 24 months with 3% balance transfer fee, then 12.99%

Amount saved

$1,463.89 over 24 months

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Compare

Save with 0% p.a. on balance transfers for 24 months (with a 3% BT fee).

Qantas Premier Platinum

Qantas Frequent Flyer

Qantas Premier Platinum

Qantas Frequent Flyer

Product Name	Qantas Premier Platinum
Rewards program	Qantas Frequent Flyer
Balance transfer rate p.a.	0% for 12 months with 2% balance transfer fee, then 21.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	20.99%
Annual fee	$349 first year ($399 after)
Interest-free period	Up to 44 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$6,000
Card type	Mastercard
Foreign currency conversion fee	3%

Rewards program	Qantas Frequent Flyer
Bonus points	80,000
Rewards points per $ spent	1
Rewards points cap	Uncapped

Annual fee	$349 first year ($399 after)
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
Cash advance fee	3% or $3, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$50
Number of additional cardholders	4

Purchase rate p.a.

20.99%

Annual fee

$349 first year ($399 after)

Balance transfer rate p.a.

0% for 12 months with 2% balance transfer fee, then 21.99%

Amount saved

$478.32 over 12 months

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Earn up to 80,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers, with a 2% BT fee.

Qantas Premier Everyday

Qantas Frequent Flyer

Qantas Premier Everyday

Qantas Frequent Flyer

Product Name	Qantas Premier Everyday
Rewards program	Qantas Frequent Flyer
Balance transfer rate p.a.	0% for 12 months with 2% balance transfer fee, then 21.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	20.99%
Annual fee	$99
Interest-free period	Up to 44 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$4,000
Card type	Mastercard
Foreign currency conversion fee	3%

Rewards program	Qantas Frequent Flyer
Bonus points	8,000
Rewards points per $ spent	0.75
Rewards points cap	Uncapped

Annual fee	$99
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
Cash advance fee	3% or $3, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$25
Number of additional cardholders	4

Pros

Earn 2 bonus Qantas Points per $1 spent on eligible purchases (up to 8,000 bonus Qantas Points)
Earn 0.75 Qantas Points per $1 spent on domestic purchases up to $3,000 per statement period (2,250 points) and 0.4 points per $1 spent thereafter
Access to complimentary overseas travel insurance

Cons

Balance transfer offer charges a one-time 2% BT fee
Charges a 3% foreign transaction fee
Domestic spend threshold of $3,000 before lower points earn rate kicks in is low

Purchase rate p.a.

20.99%

Annual fee

$99

Balance transfer rate p.a.

0% for 12 months with 2% balance transfer fee, then 21.99%

Amount saved

$728.32 over 12 months

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Compare

Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.

Virgin Money Anytime Rewards Credit Card - Balance Transfer Offer

Virgin Money Rewards

Virgin Money Anytime Rewards Credit Card - Balance Transfer Offer

Virgin Money Rewards

Product Name	Virgin Money Anytime Rewards Credit Card - Balance Transfer Offer
Rewards program	Virgin Money Rewards
Balance transfer rate p.a.	0% for 24 months with 1% balance transfer fee, then 20.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	19.99%
Annual fee	$149
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	20.99%
Min credit limit	$6,000
Card type	Visa
Foreign currency conversion fee	3.3%

Rewards program	Virgin Money Rewards
Bonus points
Rewards points per $ spent	1
Rewards points cap	Uncapped

Annual fee	$149
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.3%
Cash advance fee	2.7% or $2.70, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$0
Number of additional cardholders	4

Purchase rate p.a.

19.99%

Annual fee

$149

Balance transfer rate p.a.

0% for 24 months with 1% balance transfer fee, then 20.99%

Amount saved

$1,363.89 over 24 months

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Compare

Save with a 0% balance transfer offer for 24 months (with a one-time 1% BT fee).

Bankwest Breeze Platinum Mastercard

Bankwest Breeze Platinum Mastercard

Product Name	Bankwest Breeze Platinum Mastercard
Rewards program
Balance transfer rate p.a.	0% for 24 months with 3% balance transfer fee, then 12.99%
Balance transfer limit	95% of available limit
Purchase rate p.a.	12.99%
Annual fee	$59
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$6,000
Card type	Mastercard
Foreign currency conversion fee	0%

Annual fee	$59
Minimum monthly repayment	2% of the closing balance or $20, whichever is greater
Late payment fee	$25
Foreign currency conversion fee	0%
Cash advance fee	3% or $4, whichever is greater
Overseas cash advance fee	3% or $4, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	3

Purchase rate p.a.

12.99%

Annual fee

$59

Balance transfer rate p.a.

0% for 24 months with 3% balance transfer fee, then 12.99%

Amount saved

$1,443.89 over 24 months

Go to site More Info

Compare

Get 0% p.a. interest on balance transfers for 24 months (with a 3% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.

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Cards from

How do 0% balance transfer credit cards work?

These cards charge no interest on debt you move to the card for an introductory period, which typically lasts from 6 months to 28 months. With no interest charges, you can pay off your debt faster.

But at the end of the interest-free period, any unpaid balance will attract a higher interest rate. This is sometimes known as the "revert" rate. To avoid falling into debt, you should aim to pay off your balance transfer in full before the revert rate applies.

What if you're paying interest on a few credit cards?

If you have debt on more than 1 credit card, you can consolidate them with a balance transfer credit card. That way you'll pay no interest on the combined debt during the introductory period. And you'll only need to manage 1 credit card (and pay 1 annual fee).

Want to look at other ways to pay off a few different debts? Finder's guide to debt consolidation has more details on your options.

How much can you save with a 0% balance transfer offer?

How much you save depends on the size of your debt, the length of the interest-free offer and whether you can pay it off in full before a higher interest rate kicks in. Keep in mind some balance transfer cards come with transfer fees and annual fees, which also affect how much you can save.

Example

Say you had a $5,000 balance on a credit card with a 20.07% p.a. interest rate and paid $200 off the balance each month. At that rate, it would take around 33 months to fully clear the balance and cost around $1,529 in interest.

But if you moved that debt to a card that offered 0% interest on balance transfers for at least 25 months, you could pay off the entire debt without interest charges – assuming there were no other fees or charges on the balance transfer card.

💡Tip: Use Finder's comparison table to see how much you can save based on your current balance and interest rate.

Promoted

St.George Vertigo Card

0% p.a. for 24 months on balance transfers (with 1% balance transfer fee). $55 annual fee.

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How to compare 0% balance transfers credit cards

With so many different 0% balance transfer credit cards on the market, here are 5 important factors to consider when comparing your options.

1. Length of the balance transfer introductory offer

Compare balance transfer cards by how long the interest-free period lasts. You should look for a card that gives you enough time to repay the entire debt before the revert rate kicks in.

For example, let's say you had a debt of $5,000 and were looking at a card with 0% on balance transfers for 15 months. You'd need to pay around $334 each month to clear the entire amount before you're charged interest. If you didn't think you could afford this, looking for a card with a longer interest-free offer would help spread out and reduce the monthly repayments.

💡 Tip: Use a repayment calculator to see how much you'd need to pay each month to clear your balance.

2. How much you are allowed to transfer

Balance transfer offers typically let you transfer between 70% and 100% of the approved credit limit, but it does depend on the bank or lender.

As an example, if you were approved for a high credit limit of $20,000 and a maximum balance transfer amount worth 80% of the limit, you could transfer up to $16,000. Finder's guide on balance transfer limits for different banks has more details, including limits for the Big Four and other banks.

3. The balances you can transfer

You can typically transfer an Australian credit card balance to a new card with a different bank or brand. Some credit cards also let you balance transfer personal loan debt if it us held with a different Australian lender.

But you can't transfer your balance to a new card with the same bank. Sometimes, there are also restrictions between brands that are owned by the same provider. For example, you can't balance transfer between St.George and Bank of Melbourne (both are owned by Westpac). But you could balance transfer between westpacNAB and St.George. Check out Finder's guide on which banks you can balance transfer to for more information.

4. Balance transfer revert rate

If you can't pay off your entire balance by the end of the introductory period, any remaining debt will be charged interest based on the balance transfer revert rate. This is usually a much higher cash advance or purchase interest rate.

It's important to compare this rate and know when it applies, even if you're planning to pay the debt in full before the 0% interest period ends.

5. Compare fees and charges

You won't have to pay any interest during the promotional period, but most balance transfer credit cards come with other costs. These can include:

An annual fee, which can range between $29 and $400 or more. Some cards also offer a $0 annual fee in the first year or ongoing.
A balance transfer fee when you first move the debt. This is typically a fee worth between 1% and 3% of the amount you're transferring. Not all cards charge a balance transfer fee, so you can factor it into your comparison. Just keep in mind that some balance transfer offers with this fee can still offer more savings than others – especially if they have a very long 0% interest period.
Interest on new purchases. Balance transfer cards often charge high purchase interest rates and your repayments will automatically go towards whichever balance attracts the most interest. Plus, many credit cards do not offer interest-free days on purchases when you have a balance transfer.

If you're concentrating on paying down your balance transfer during the interest-free period, check these costs and make sure they won't cancel out your interest savings.

Did you know? Finder research has found 6 million Australians have never switched credit cards, which could cost the average cardholder $153 a year.

When do I have to pay the annual fee on a 0% balance transfer card?

If you get a balance transfer card that has an annual fee, it will usually be charged when you first activate the account, then once a year on the anniversary of that date.

As the annual fee is a new charge, it's not eligible for the introductory 0% p.a. balance transfer interest rate and will attract interest charges at the card's purchase rate until it's paid off. Doing that as soon as possible means you can focus on repaying the whole balance.

A 0% balance transfer credit card can be a useful way to get your debt under control and pay off your card with no interest costs. In fact, Finder research shows 11% of Australians got their last credit card so they could do a balance transfer and pay off debt.

As there are many interest-free balance transfer credit cards on the market, make sure you compare your options before you apply to find the right one for you.

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Thank you for your feedback!

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

Written by

Sarah Megginson

Head of editorial

As an authority on all things personal finance, Sarah Megginson is passionate about helping you save money and make money. She is an editor and money expert with 20 years’ experience and an extensive background in property and finance journalism. Sarah holds ASIC RG146-compliant Tier 1 Generic Knowledge certification, and she's a regular media commentator, appearing weekly on TV (Sunrise, Channel 7 news, Nine news), radio (KIIS FM, Triple M, 3AW, 2GB, 6PR) and in digital and print media. See full bio

Sarah's expertise

Sarah has written 191 Finder guides across topics including:

Home loans
Personal finance
Budgeting and money-saving tips
Managing the cost of living

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