Compare Balance Transfer Credit Cards

Compare the latest credit card Balance Transfer offers including 0% for 36 months. Review your potential savings. See what your bank will offer you to stay.


Updated 5 July 2022

Promoted Offer
NAB Low Rate
Balance Transfer Offer

0%p.a. for 32 months on balance transfers

$0first year annual fee

Learn More about the NAB Low Rate Credit Card

BT reverts to the cash advance rate. Minimum monthly repayments required. T&Cs and eligiblity criteria apply. Offer may end at any time.
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Balance Transfer Offer

Offers 1 - 10 of 57

FAQs

What is a credit card Balance Transfer?

A credit card Balance Transfer is when you move some or all of the amount you owe (the balance) from one credit card to another (typically a new credit card).

How do I find the best Balance Transfer offer?

Stay or Go’s unique credit card review process will help you find suitable offers from across the market, including an estimate of how much you could save. We consider all the key credit card features, assess over 200 offers, and do the maths for you in 60 seconds.

How to get the most out of a credit card Balance Transfer?

Follow these five steps to ensure your Balance Transfer works for you:

  1. Find the right Balance Transfer credit card. Stay or Go makes this easy.
  2. Cancel your old credit card. This eliminates the risk of doubling your credit card debt. If closing your old credit card is not possible, then reduce its limit by the amount you transferred.
  3. Set a disciplined but realistic repayment plan. Ideally set a plan to repay your Balance Transfer in full well before the end of the promotional period. This way you’ll have some breathing room for when life doesn’t quite go to plan. To ensure discipline, take advantage of your bank’s auto-repayment features so you don’t forget a payment and to ensure you stay on track.
  4. Limit spending on your new card. Avoid the trap of replacing the amount you repay each month with new purchases. Consider using a debit card for certain types of purchases, for example your everyday expenses, to help limit credit card spending.
  5. Set a reminder. It’s easy to lose track of when your Balance Transfer offer ends. Set a reminder in your diary a few months before so you don’t forget and can reset your plans beforehand.

How do banks make money out of Balance Transfers?

Balance Transfers are great when used in a disciplined way, however, according to a recent ASIC report, only 8% of consumers eliminate their credit card debit completely within the promotional period. Banks therefore earn fees and interest on the remaining 92% of customers. At the end of the Balance Transfer promotional period, any remaining balance reverts to a higher interest rate, often in excess of 20%, and typically higher than the interest rate on new purchases.

Why doesn’t CommBank offer 0% Balance Transfers?

Ever since 0% Balance Transfers launched in Australia back in 2005, CommBank has on the whole avoided them. Key reasons include the fact that they are the largest retail bank in Australia, so potentially have more to lose than gain, and concerns regarding the loyalty and profitability of customers that use Balance Transfer offers. If you are interested in a 0% Balance Transfer, then you’ll need to consider other providers.

More information
* Select “learn more” for additional information regarding fees, interest rates, rewards and other features.
^ Credit card reward programs can be difficult to compare due to tiered and capped points earn rate structures. To simplify comparison, we estimate the number of points you could earn per $1 spent, assuming $5,000 of spend on eligible purchases each month.
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