| Credit Card | Balance Transfer | Transfer Fee | Annual Fee |
|---|---|---|---|
| Bankwest Breeze Classic | 0% for 26 months | 2% | $39 in 1st year |
| Citi Rewards - Balance Transfer Offer | 0% for 26 months | 1.5% | $49 in 1st year |
| HSBC Platinum | 0% for 22 months | 0% | *$129 |
| Virgin Velocity Flyer - BT | 0% for 22 months | 0% | $65 in 1st year |
| St.George Vertigo | 0% for 18 months | 0% | $55 |
| Westpac Low Rate | 0% for 16 months | 0% | $59 |
| ANZ Low Rate | 0% for 15 months | 0% | $58 |
| Virgin Low Rate | 0% for 14 months | 0% | $49 |
| Woolworths Everyday Platinum | 0% for 14 months | 0% | $0 in 1st year |
Searching for the best balance transfer credit card offers can be very exhausting. To help you, we have compared and listed the best balance transfer credit cards in Australia.
A balance transfer provides the opportunity to transfer a spending balance from one credit card to another under a promotional interest rate.
To transfer a balance, most providers charge a one time upfront cost, known as a balance transfer fee that typically ranges between 0% to 3%.
Or click on the link to compare more balance transfer credit cards listed on our website.
Bankwest Breeze Classic
Why We Like It:
The Bankwest Breeze Classic is the only credit card on our list that has a low reverted interest rate. This card is a combination of low rate and low fee credit card with a great balance transfer offer.
Its balance transfer offer is 0% p.a. for 26 months with a 2% transfer fee. What's great is that after expiry, the balance transferred reverts to a low rate of 12.99% p.a.
To sweeten the deal even more, it has $39 annual fee in the first year then $79 p.a. after.
Extra Benefits:
Soon as your credit card is approved you can access your digital Bankwest Breeze Classic card via the Bankwest App.
Or if you want the same balance transfer offer with more benefits then check out the Breeze Platinum credit card.
Income Eligibility:
The minimum income required is $15,000.
Citi Rewards (Balance Transfer Offer)
Why We Like It:
The Citi Platinum (Balance Transfer Offer) is a rewards credit card that comes with a good mix of premium benefits.
Its balance transfer offer of 0% p.a. for 26 months does require an upfront 1.5% transfer fee. Any remaining amount of transferred balances will revert to the cash advance rate of 22.24%.
As an added bonus, its annual fee in the first year is $49 and then $149 p.a. thereafter.
If reward points are of great interest to you, then collect 1 point per $1 spent on domestic and international purchases, with domestic capped at $10,000 per statement period. Furthermore, holding a diners club card can earn you extra points at 2 points per $1 spent on eligible purchases.
Extra Benefits:
As mentioned, a good mix of complimentary insurances are available on this card. These included international travel insurance, purchase cover insurance and extended warranty.
More premium benefits are available to the cardholder related to dining and entertainment. Treat yourself to a free bottle of wine at partner restaurants, a free membership to Visa front line access and have accessibility to a 24/7 personal concierge.
Income Eligibility:
The minimum income required is $35,000.
HSBC Platinum
Why We Like It:
Available to only new customers, the HSBC Platinum offers a 0% p.a. for 22 months with no balance transfer fee. Any transferred balances remaining after the expiry are subjected to the rate of 21.99% p.a.
This rewards credit card comes at an annual cost of $129. The good news is that the annual fee is refunded when you spend $6,000 or more in purchases per year.
For collecting reward points, you earn 2 points per $1 spent overseas. And 1 point per $1 spent everywhere else. You should also know that points are capped at $10,000 per statement period.
Extra Benefits:
Has 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.
Even more travel benefits come with the card, such as 2 Airport lounge passes every year (LoungeKey), Home & Away Privilege Program.
There's also Visa Premium Benefits for access to purchase tickets for cool events. Plus, free membership to Frequent Values - getting you discounts of 20% off dining and retail savings of up to 25%.
Last but not least, cardholders can use Apple Pay and Google Pay for mobile payments.
Income Eligibility:
The minimum income required is $40,000.
Virgin Velocity Flyer - BT
Why We Like It:
The Virgin Velocity Flyer Balance Transfer offer has 0% p.a. for 22 months with no transfer fee.
A purchase rate is 20.74% p.a. with a $64 annual fee in the first year and thereafter a $129 annual fee.
Plus has up to 55 days interest free and a minimum credit limit of only $6,000.
Extra Benefits:
Each year get a complimentary $129 Virgin Australia Gift Voucher to essentially cover the the annual fee.
Be granted access to Visa Platinum Benefits for special offers to concerts, sporting events and more. Plus, always shop for and get the best prices with its guaranteed pricing scheme.
Travel insurance benefits do include transit accident insurance. Furtermore, to assist you in booking flights or entertainment on your holiday is its 24/7 personal concierge.
Use it with Samsung Pay to mobile pay for your goods.
Income Eligibility:
The minimum income required is $35,000.
St.George Vertigo
Why We Like It:
The St.George Vertigo is a combination of a low interest rate and frequent flyer credit card.
Plus, it has a very attractive balance transfer offer of 0% for 18 months with no transfer fee. After the promotional balance transfer ends, any remaining balances will revert to 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.
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.
Extra Benefits:
Managing your credit card through the St.George app has never been easier. The cardholder can setup up notifications to remind you when your card payment is due and when 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
Why We Like It:
One awesome offer is the Westpac Low Rate with its 0% p.a. for 16 months and no transfer fee. But this offer is only available until 31st March 2020.
Any transferred balances that remain after the 16 months will be subjected to the cash advance rate of 21.49%.
It's great for those who want a small credit limit and for students. The minimum credit limit is $500 and annual fee is $59. Interest free days are up to 55 days.
Extra Benefits:
N/A.
Income Eligibility:
There is no set minimum income required.
ANZ Low Rate
Why We Like It:
ANZ Low Rate credit card has a low interest rate of 12.49% and no transfer fee on balance transfer 0% for 15 months. At the end of the BT term, any outstanding transferred balances will be subjected to a 20.24% p.a rate.
With a relatively low annual fee of $58 and only a minimum credit limit of $1,000, this is no doubt a competitive option in the market.
Extra Benefits:
With this card, you will be granted free membership to Visa Entertainment, giving you access to special offers, ticket pre-sales and movie screenings.
Income Eligibility:
The minimum income required is $15,000.
Virgin Low Rate
Why We Like It:
Virgin Low Rate is another credit card favorite when it comes to interest rates. It has a low purchase annual rate of 11.99% and a balance transfer at 0% for 14 months with no transfer fee. Plus, it has only a low annual fee of $49.
The Virgin Low Rate is one of the few credit cards in the market that has a short term cashback offer. Its cashback offer gets you 10% cash back (capped at $100 total) on spending in the first 3 months.
Extra Benefits:
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
Why We Like It:
Woolworths Everyday Platinum is a rewards credit card with a great balance transfer of 0% for 14 and no transfer fee. The balance transfer rate reverts back to 21.99% after the 14 months ends.
The annual fee is $0 in the first year and then $49 p.a. thereafter.
In terms of reward points, you can earn 3 points for every $1 spent on all purchases of Woolworths Select and Woolworths brand products. Or collect 2 points for every $1 spent on purchases at Woolworths Supermarkets as well as Dan Murphy’s, Cellarmasters, BWS, BIG W and participating Caltex Woolworths fuel outlets. And finally, earn 1 point for every $1 spent on eligible purchases everywhere else.
When every 2,000 Woolworths Rewards points have been earned, you automatically get $10 off your next eligible shop.
Extra Benefits:
If you like gift cards, then you'll be happy to hear that the cardholder can score a $50 Woolworths eGift Card when spending exceeds $150 every month for 3 months in store or online at Woolworths.
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 for use on Apple Pay.
Income Eligibility:
The minimum income required is $30,000.
You can check out other similar best credit cards lists below:
Top interest free credit cards
Best low interest rate credit cards
We hope you found our list of best balance transfer credit cards in Australia for 2020 helpful! Feel free to comment below with your thoughts on our blog.
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Kredmo Pty Ltd is not a credit provider and does not provide personal financial or professional advice or credit assistance. The information published on this site/page is of a general nature only and does not consider your personal objectives, financial situation or particular needs. The information published on this site/page should not be relied upon as a substitute for personal financial or professional advice. Kredmo strongly recommends that you seek independent advice before you apply for any product or service, which is described on the site/page... Read More