Best Balance Transfer Credit Cards

Not only does the ANZ Low Rate card offer 0% interest on balance transfers for over two years, but you can transfer up to 95% of your credit limit. Plus, its standard purchase rate is just 13.74%, making it a solid, all-round card for debt consolidation and everyday expenses.

Pros: 

• Interest-free days available on purchases during balance transfer promo.
• Offers flexible payment options, like instalment plans.
• Low minimum credit limits available.

Cons:

• Higher balance transfer fee than other options.
• Revert rate rises above 20% after promo ends.

• A credit card with a lower ongoing interest rate for your everyday purchases
• Get a 0% p.a. balance transfer rate for a 28-month promo period, with a 3% balance transfer fee + $0 annual fee in the first year.
• Or, get $250 back to your new card when you spend $1,500 on eligible purchases in the first 3 months from approval.
• Lower interest rate on purchases compared to other ANZ cards
• Higher annual fee compared to the ANZ First card
• Does not earn Reward Points or Qantas Points on purchases
• Up to 3 additional cardholders (at no additional cost)
• No complimentary insurances
• ANZ Falcon Technology monitors your transactions to help identify fraud
• Access to ANZ Cashrewards

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Key Facts and Terms and Conditions.

The Vertigo Card has a lengthy promotional period and no transfer fees, which means you can move your balance over without adding to your debt. This can be particularly useful for people moving a large balance as the long promo period can help stretch out the repayments on the transferred amount.  

Note: The Vertigo card is also offered by the St.George Bank and BankSA, all of which are subsidiaries of the Westpac Group.    

Pros: 

• Lower interest rate on purchases.
• Interest-free days available on purchases during balance transfer promo.
• Cashback bonus also available with another balance transfer promotional offer (6.99% p.a. for 12 months). 

Cons:

• Balance transfer promo rate may not be as competitive as some other offerings in the market.
• Revert rate rises above 20% after promo ends.
• Can only use up to 80% of the credit limit for balance transfers.

• An everyday card with a lower rate on purchases, and a low annual card fee.
• Get 0.99% p.a. interest rate on balance transfers for up to 28 months.
• Or, get 10% cashback on spend at selected supermarkets and petrol stations (up to $500 total cashback). Plus, 6.99% p.a. interest on balance transfers for up to 12 months when requested at card application. 
• Lower purchase interest rate than other offerings in the market.
• Up to 55 days interest-free
• Link and pay with your eligible Bank of Melbourne credit card to get exclusive bonus Cashback when you shop on the new Bank of Melbourne Lounge on the ShopBack app.
• Low minimum credit limit: If you haven’t used credit much before, or aren’t confident using it, the $500 minimum limit can help ensure your spend doesn’t get out of control.
• Complimentary additional cardholder: Add a second cardholder (16 or over) for free, while keeping all the spend on the one account.
• Secure ways to pay: Make purchases with your smartphone using your choice of mobile wallet, including Apple Pay, Google Pay and Samsung Pay.
• Fraud protection: Feel confident using our cards, with 24/7 fraud monitoring, Secure Online Shopping Service, and the Bank of Melbourne Fraud Money Back Guarantee
• Access to My Offers Hub.
• Visa Offers and Perks
• Manage your repayments with options like Plan&Pay, Autopay, SMS and email alerts and more.

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Key Facts and Credit Card Terms and Conditions.

The Breeze Classic Mastercard’s lower annual fee and balance transfer revert rate provides a little breathing room after the promo period ends. While any remaining balances will still accrue interest, the lower revert rate can help prevent your debt from spiraling.

Pros: 

• Lower interest rate on purchases.
• Transferred balances can use more than 90% of your credit limit.
• Interest-free days available on purchases during balance transfer promo.

Cons:

• Higher balance transfer fee than other options.

• 0% p.a. for 24 months on balance transfers: Limited time, new Breeze Mastercard® customers only. 3% balance transfer fee, plus other fees and charges, T&Cs apply. 
• Up to 55 interest free days on purchases.
• Application approved? Use your digital card right away while you wait for your physical card.
• Instant card lock
• Easy Instalments purchase plans
• Minimum credit limit: $1,000
• Foreign transaction fee: 2.95% of transaction amount.

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Key Facts and Credit Card Conditions of Use.

With a 100% transfer limit, you have a better chance of moving your total balance onto the NAB Low Rate Card, consolidating your debt and keeping the number of credit card payments down to a minimum.

Pros:

• Lower interest rate on purchases.
• No annual fee for the first year.
• Interest-free days available on purchases during balance transfer promo.

Cons:

• Revert rate rises above 20% after promo ends.
• No flexible payment options, like instalment plans, available.

• Enjoy 0% p.a. on balance transfers for 28 months with 2% balance transfer fee on a new NAB Low Rate Card. Unpaid balance transfer reverts to variable cash advance rate.
• Enjoy no annual fee for the first year (usually $59).
• NAB’s lowest interest rate on purchases
• Up to 55 interest free days on purchases
• Special offers with Visa Entertainment, including pre-sale tickets and member promotions
• Add an additional cardholder at no extra cost 
• Fraud and theft protection with world class security technologies
• Global assistance for card emergencies

For more information, we recommend reviewing this product’s Target Market Determination, the Guide to Fees and Charges and Credit Card Terms and Conditions.

No interest on balance transfers during the promo period, a longer promo period and lower APR makes the Westpac Low Rate card a solid choice for anyone looking to move a balance and then use the card for everyday purchases.

Pros:

• Higher credit limits up to $50,000+.
• Offers flexible payment options, like instalment plans.
• Interest-free days available on purchases during balance transfer promo.

Cons:

• Revert rate rises above 20% after promo ends.
• Can only use up to 80% of the credit limit for balance transfers.

• Request a 0% p.a. for 26 months balance transfer at application. A 2% balance transfer fee applies. After 26 months, the rate reverts to the variable cash advance rate.
• Or, earn up to $350 cashback on your new credit card. 
• First year’s card fee is waived for existing Westpac customers.
• Lower ongoing interest rate on purchases: handy if you don’t intend to pay off your bill in full each month
• Lower ongoing annual card fee of $59: to help trim your credit card costs, keeping money in your pocket
• Up to 55 days interest-free: more opportunity to avoid interest charges on your purchases
• Westpac customers can access exclusive bonus Cashback when shopping with their credit card through ShopBack
• Split your purchases over $100 into 4 payments over 6 weeks with the PartPay feature on your credit card.
• Use the Dynamic CVC on your digital card. The 3-digit number changes every 24 hours for added fraud protection.
• Manage your credit card in the Westpac App, with features to help you budget, save and stay on top of your finances.

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Key Facts and Credit Card Terms and Conditions.

The More Classic Mastercard offers a lower transfer rate and 0% on transferred balances, while also earning 1.5 reward points on every dollar you spend, up to a limit — a solid pick for people who want perks with their credit.

Pros:

• Interest-free days available on purchases during balance transfer promo.
• Ongoing balance transfer options for existing cardholders.
• Offers flexible payment options, like instalment plans.

Cons:

• Balance transfer promo period is less than one year.
• Higher annual fee.

• 0% p.a. Intro balance transfer rate for first 6 months (1% balance transfer fee applies)
• Earn 1.5 More Rewards points per $1 spent on eligible purchases up to 150,000 points every year
• Up to 44 interest free days on purchases
• Easy Instalments purchase plans
• $1,000 minimum credit limit

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Key Facts and Credit Card Conditions of Use.

With no transfer fees and 0% interest on balance transfers, the Virgin Money Low Rate Card allows you to move your balance without adding more debt to the transferred amount. Plus, it has a lower APR when compared to some of its competitors.

Pros:

• Lower interest rate on purchases.
• No balance transfer fee.
• Higher credit limits up to $50,000+ available.

Cons:

• Revert rate rises above 20% after promo ends.
• Higher annual fee.
• No interest-free days on purchases during the promo period.

• Get 0% p.a promo interest rate for 15 months with our balance transfer offer. 
• A lower 12.99% p.a. interest rate on purchases.
• Competitive annual fee of $99.
• Earn loads of Virgin Money Bonus Points: Access a range of partner offers through the Virgin Money app to earn Bonus Points and other epic benefits from brands like The ICONIC, Menulog and many more.
• Virgin Money app: The Virgin Money app keeps you in the know, with a spend tracker, alerts and clever insights into your credit card spend – and more.
• Digital wallet: Use your phone or wearable to pay from your credit card account, with Apple Pay, Samsung Pay or Google Pay.
• Personal Concierge: Take advantage of round-the-clock access to the Visa Platinum Concierge Service. It’s the next best thing to having your very own personal assistant and all it takes is a phone call or a mouse click, anytime, anywhere in the world.
• Visa payWave: Pay for anything from coffee to a set of monogrammed bath towels with a simple wave of your Virgin Money Credit Card anywhere with a Visa payWave sensor.
• Fraudshield: Your card is safe with Fraudshield. If there are any unusual transactions on your account, we’ll reach out. And you won’t be liable for fraudulent transactions made with your card.
• Visa Platinum Benefits: Enjoy first choice of seats to some of the most sought-after events in Australia. No queuing, no waiting, no disappointment. Go to some of the biggest concerts, hottest shows and most exciting sports events, before pre-sales and before they go on sale to the general public.

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Rates and Fees and Credit Card Terms and Conditions.

The Velocity Flyer Card offers no transfer fees and a lengthy promo period at 0% on balance transfers, as well as earning 0.5 to 0.66 Velocity Frequent Flyer Points on every dollar you spend, up to a limit — great for Virgin Australia regulars.

Pros: 

• Earn rewards. 
• No balance transfer fee.
• Higher credit limits up to $50,000+ available.

Cons: 

• Interest on purchases exceeds 20%.
• Revert rate rises above 20% after promo ends.
• Higher annual fee.

• Get 0% p.a. promo interest rate for 24 months with a balance transfer and $0 annual fee for the first year, and $149 after that.
• Or, get the 60,000 Velocity Points offer, which comes with 0% p.a. for 12 months on balance transfers and half annual fee for the first year.
• Earn Velocity Frequent Flyer Points on your eligible everyday spend: $100 spent will earn you 66 Velocity Frequent Flyer Points up to $1,500 each monthly statement period, and half a point per dollar spent thereafter.
• Fly more, earn more: Earn 1 extra Velocity Point for every $1 spent directly with Virgin Australia using your Flyer Credit Card.
• Complimentary Insurance: 90 days complimentary Purchase Protection Insurance, and Extended Warranty Insurance for up to 12 months.
• Enjoy an exclusive $129 Virgin Australia Gift Voucher: You can redeem this perk every year when you make a retail purchase in the 2 months prior to requesting the voucher. 
• Virgin Money app: The Virgin Money app keeps you in the know, with a spend tracker, alerts and clever insights into your credit card spend – and more.
• Digital wallet: Use your phone or wearable to pay from your credit card account, with Apple Pay, Samsung Pay or Google Pay.
• Personal Concierge: Take advantage of round-the-clock access to the Visa Platinum Concierge Service. It’s the next best thing to having your very own personal assistant and all it takes is a phone call or a mouse click, anytime, anywhere in the world.
• Visa payWave: Pay for anything from coffee to a set of monogrammed bath towels with a simple wave of your Virgin Money Credit Card anywhere with a Visa payWave sensor.
• Fraudshield: Your card is safe with Fraudshield. If there are any unusual transactions on your account, we’ll reach out. And you won’t be liable for fraudulent transactions made with your card.
• Visa Platinum Benefits: Enjoy first choice of seats to some of the most sought-after events in Australia. No queuing, no waiting, no disappointment. Go to some of the biggest concerts, hottest shows and most exciting sports events, before pre-sales and before they go on sale to the general public.

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Rates and Fees and Credit Card Terms and Conditions.

The Blue Visa Credit Card doesn’t charge a transfer fee, and earns one Q Rewards points for every dollar you spend, up to a limit. Q Rewards can be redeemed for cash, statement credits or eVouchers. 

Pros: 

• 0% p.a. on purchases and balance transfers during the nine month promotional period
• Earns rewards.
• No balance transfer fee.

Cons: 

• No interest-free days on purchases during the promo period.
• Promo periods are less than one year.
• After the promo, rates rise above 20% for both purchases and balance transfers.

• 0% p.a. on purchases and balance transfers for 9 months, with no balance transfer fee. Purchase rate reverts to ongoing purchase rate thereafter, balance transfer reverts to cash advance rate thereafter. No interest free days apply on retail purchases at the end of the promotional period while you have a balance transfer.
• Up to 44 days interest free
• With BOQ’s Credit Card rewards program, Q Rewards, every dollar you spend on Eligible Transactions becomes points.
• Purchase Protection Insurance: Cover for lost, stolen or damaged goods within 90 days of purchase (terms, conditions, limits and exclusions apply).
• Security and fraud protection
• Instalment Plans
• From 31 October 2024, the following changes will apply to the BOQ Blue Credit Card: the Annual Cardholder Fee will increase to $89; the interest rate on Retail Purchases will increase to 20.99% p.a. and the interest rate on Cash Advances will increase to 21.99% p.a.

For more information, we recommend reviewing  this product’s Target Market Determination, the Credit Card Features, Fees and Charges and Credit Card Terms and Conditions.

The Premier World Mastercard has no annual fee and offers 0% interest on balance transfer for 12 months, so you can focus on reducing your debt rather than paying annual fees.  

Pros: 

• No annual fee.
• Choose to earn Rewards Plus or Qantas Points.
• Travel perks, like airport lounge access and complimentary travel insurance, included.

Cons: 

• Revert rate rises above 20% after promo ends.
• No flexible payment options, like instalment plans, available.

• Get 0% pa promo interest rate on balance transfers for 12 months (2% balance transfer fee applies)
• Experience all the perks of a global credit card without any annual card fees.
• Choose whether you want to earn Rewards Plus or Qantas Points.
• Get up to 10% off when you book your next adventure with your credit card via Agoda or Expedia.
• Enjoy bespoke airport experiences, with access to over 1,000 lounges for you to relax in and offers at the best airport shops
• HSBC Rewards Plus: Earn 1.5 Rewards Plus points per $1 spent on eligible purchases, up to $120,000 spent per year. Redeem your points for cashback, gift cards, or travel.
• Qantas Rewards: Earn 1.5 Qantas Points per $1 spent on eligible purchases, up to $120,000 during the first 12 months of your account, and 1 Qantas Point per $1 in subsequent years. Unlock bespoke offers from 27,000 local and global retail partners with our home&Away Privilege Program.
• Complimentary travel insurance: Get domestic and international travel insurance with rental vehicle excess insurance in Australia, transit accident insurance, extended warranty insurance, and purchase protection insurance.
• Travel in style with 2 airport lounge passes every year with Mastercard Travel Pass, provided by DragonPass
• Use My Card Controls to help keep your spending safe with transaction limits and the ability to lock or unlock your card.
• Discover over 4,500 ways to save when you get the HSBC Instant Savings app.

For more information, we recommend reviewing this product’s Target Market Determination, the Credit Card Key Facts and Credit Card Terms.