Credit CardBalance TransferTransfer FeeAnnual Fee
HSBC Platinum0% for 22 months0%$129*
St.George Vertigo0% for 18 months0%$55
Westpac Low Rate0% for 16 months0%$59
Woolworths Everyday Platinum0% for 14 months0%$0*
Virgin No Annual Fee0% for 12 months0%$0
Citi Simplicity0% for 6 months0%$0

A 0% balance transfer fee can save you paying an upfront one to two percent on a balance transfer offer. 

Those that want a shorter-term balance transfer offer or to avoid fees at all costs, choosing a zero balance transfer fee offer can definitely be very favorable.  

HSBC Platinum

  • Balance Transfer: 0% for 22 months.

  • Balance Transfer Fee: 0%.

  • Annual Fee: $129 or can be refunded if you spend over $6,000.

Why We Like It:

For new customers only, the HSBC Platinum comes with an exceptional offer of 0% for 22 months with no balance transfer fee. Transferred balances that remain after expiry will be subjected to the rate of 21.99% p.a.

The annual fee is $129 p.a. But the good news is it's refunded when you spend $6,000 or more in purchases per year.

Plus, receive 2 Airport lounge passes every year (LoungeKey) and Home & Away Privilege Program.  

Free access to Visa Premium Benefits to purchase tickets to cool events. And free membership to Frequent Values - with discounts of 20% off dining and retail savings of up to 25%. 

 

Extra Benefits: 

A long list of insurance benefits, starting with complimentary domestic and international travel insurance, rental vehicle insurance, transit accident insurance, guaranteed pricing scheme, extended warranty insurance, and purchase protection. 

As you spend, collect reward points on purchases with 2 points per $1 spent overseas. 1 point per $1 spent everywhere else. You should also know that points are capped at $10,000 per statement period (points are not earned on balance transfers).

Last but not least, cardholders can use either Apple Pay and Google Pay for mobile payments.

 

Income Eligibility: 

The minimum income required is $40,000.

 

St.George Vertigo

  • Balance Transfer: 0% for 18 months.

  • Balance Transfer Fee: 0%.

  • Annual Fee: $55.

Why We Like It:

Merge a low interest rate card with a frequent flyer card and there you have it the St.George Vertigo.

It has a very attractive balance transfer offer of 0% for 18 months with no transfer fee. After the promotion ends, any remaining balances will then revert to its cash advance rate of 21.49% p.a.

With a purchase rate of 13.99% p.a. and a low annual fee of $55, this is potentially a great option to switch over too. 

 

Extra Benefits: 

Each $1 spent will earn you 0.75 Velocity Points with the except of government bodies in Australia whereby instead will earn you 0.5 Velocity points (keep in mind that balances transferred do not earn points).

Managing your credit card through the St.George app has never been easier. Cardholders can setup up notifications to remind themselves when repayment is due and large transactions are made. Easily check your purchases as you go, temporarily lock your card or change your transaction limits. 

 

Income Eligibility: 

There is no set minimum income required.

 

Westpac Low Rate

  • Balance Transfer: 0% for 16 months.

  • Balance Transfer Fee: 0%.

  • Annual Fee: $59.

Why We Like It: 

Not only does it have no balance transfer fee, it also has a low minimum credit limit, thus making the Westpac Low Rate available to a broader group. 

Its offer of 0% for 16 months and no transfer fee is available up to 5th August 2020. Following the sixteen months any balance remaining will be subjected to its cash advance rate of 21.49% p.a.

For those seeking a small credit limit or even students this a great potential choice. Because of its credit limit is $500 and also its low annual fee is $59 p.a. Interest free days are up to 55 days.

 

Extra Benefits: 

N/A. 

 

Income Eligibility: 

There is no set minimum income required.

 

Virgin Low Rate

  • Balance Transfer: 0% for 14 months.

  • Balance Transfer Fee: 0%.

  • Annual Fee: $49.

Why We Like It:

Virgin Low Rate could be a credit card to keep after you using its balance transfer offer. Because of its low interest rate and low annual fee.

With no transfer fee you can get a 0% for 14 months balance transfer offer. After the promotion any balances remaining are subjected to its cash advance rate of 21.69% p.a.

The only cost when accepting the offer is paying its low annual fee of $49 p.a. 

 

Extra Benefits: 

The new purchases on the credit card will receive the interest rate of 11.99% p.a. And interest-free days are 55 days, but if you've accepted a balance trasfer offer then then interest-free days won't apply unless the full statement balance is paid off.

Only a few credit cards in the market have cashback offers. Its offer is 10% cash back (capped at $100 total) on spending in the first 3 months (not including balance transfers). 

If you prefer doing mobile payments, then with an Android smartphone you can use Samsung Pay with this card. 

 

Income Eligibility: 

The minimum income required is $35,000.

 

Woolworths Everyday Platinum

  • Balance Transfer: 0% for 14 months.

  • Balance Transfer Fee: 0%.

  • Annual Fee: $0 in 1st year. Thereafter $49 p.a.

Why We Like It:

For those who don't want to pay a single fee then the in the first year for a balance transfe offer, the Woolworths Everyday Platinum can be your best credit card. 

With no transfer fee for its 0% for 14 months balance transfer offer. After the reverted rate will be the cash advance rate of 21.99% p.a.

With its $0 annual fee in the first year, then $49 p.a. thereafter, it definitely proves itself as a great option. 

 

Extra Benefits: 

With Woolworths' store credit card redeem a $50 Woolworths eGift Card when spending exceeds $150 every month for 3 months in-store or online at Woolworths.  

Earn 3 points for every $1 spent on all purchases of Woolworths Select and Woolworths brand products. Plus, collect 2 points for every $1 spent on purchases at Woolworths Supermarkets and many more participating outlets. Finally, earn 1 point for every $1 spent on eligible purchases everywhere else. 

Here's the cashback, for every 2,000 Woolworths Rewards points earned, you automatically get $10 off your next eligible shop.

Platinum Extras do come with the card but only on credit limits of $6,000 and above. These are purchase security insurances and wallet guard, 24/7 concierge services and access to the Visa luxury hotel collection

It's now available to use on Apple Pay.

 

Income Eligibility: 

The minimum income required is $30,000.

 

Virgin No Annual Fee (BT Offer)

  • Balance Transfer: 0% for 12 months.

  • Balance Transfer Fee: 0%.

  • Annual Fee: $0.

Why We Like It:

The Virgin No Annual Fee (BT Offer) credit card has one of the longest balance transfer terms with no annual fee.

Offering 0% for 12 months on balance transfer with no transfer fee. So if you want a complete no fee balance transfer then you have definitely found it.

It has a purchase rate of 18.99% p.a. and a minimum credit limit of $2,000.

 

Extra Benefits: 

If you're an Android fan then you'll be happy to hear this card is eligible with Samsung Pay. 

 

Income Eligibility: 

The minimum income required is $25,000.

Citi Simplicity

  • Balance Transfer: 0% for 6 months.

  • Balance Transfer Fee: 0%.

  • Annual Fee: $0.

Why We Like It:

The Citi Simplicity is a no annual fee credit card with a no balance transfer fee for a 0% for 6 months offer.

Any balance remaining after the balance transfer term will revert to a rate of 22.24% p.a. Its purchase interest rate is 21.49% p.a and minimum credit limit of $6,000. 

Has a solid list of shopping protection that include purchase protection, extended warranty insurance, and guaranteed pricing. 

 

Extra Benefits: 

You can dip into its Visa Front Line Access & Citi World Privileges memberships for tickets to shows, hotel discounts and more.

 

Income Eligibility: 

The minimum income required is $35,000.

 

Some important things to know

For further no fees, you can seek out the 0% balance transfer fee credit cards with no annual fee. Typically, these offers are rare to spot in the market, but we have found a few for you. 

Click the link to browse the 0% balance transfer fee credit cards with $0 annual fee available online in Australia. 

Do your checks when choosing a balance transfer and one of them is checking the reverted interest rate. Any unpaid balance transferred will be subjected to the reverted interest rate after the term expires.

For example, with a 0% for 6 months balance transfer offer, any transferred balance not paid off within the 6 months is then subjected to the reverted interest rate.

Most of the time the reverted interest rate is set at the cash advance rate. But sometimes there are offers in the market that have a low reverted interest. Seek out a low reverted interest rate card if you think you may not pay off your balance transfer by the end of its term.

Usually only up to 80% of the credit limit is eligible for a balance transfer. When looking transfer a specific balance transfer amount, you want to check the credit limit of the credit card you apply for. This way you can have a high enough credit limit to cover the amount you wish to transfer. 

For example, if you have an existing credit card balance of $8,000 that you're paying monthly interest on and wish to balance transfer it. Then getting a balance transfer offer that has a 80% balance transfer limit and a credit limit of $10,000 or more is required (fees need to be taken into account). 

If you plan on keeping the credit card after the offer ends, then do compare the extra benefits between the offers in the market. But if you're sure to be closing the credit card after the offer ends, then, comparing the extra features may not be that important. 

As always if you have any comments feel free to share them below.