Credit CardBalance TransferTransfer FeeAnnual Fee
Citi Rewards (BT Offer)0% for 26 months1.5%$49*
HSBC Platinum0% for 22 months0%$129
St.George Vertigo0% for 22 months1.5%$0*
ANZ Low Rate0% for 22 months1.5%$58
Westpac Low Rate0% for 16 months0%$59
Woolworths Everyday Platinum0% for 14 months0%$0*
Virgin No Annual Fee (BT Offer)0% for 12 months0%$0

Click the link to check out or compare more balance transfer offers available in Australia.

Switching your business another provider is sometimes justified in circumstances like a balance transfer credit card offer. Credit card providers can sometimes have offers that range from 0% to 6% p.a. and last up to 26 months to relieve you of paying interest charges. 

When comparing balance transfer offers in the market, you should check their balance transfer fee. It's an upfront fee that's typically between 0% to 3% and when figuring out the best offer for you. 

Knowing the few common conditions is key when accepting a balance transfer. Firstly, the balance transfer is usually only up to 80% of the credit card limit. Keep this in mind when choosing or being offered a credit limit. 

Secondly and most importantly, the minimum repayments or greater must be met every month during the balance transfer term to keep it. Thirdly, any new purchases made won't have interest-free days unless the whole statement balance is paid off. 

To help, below we've added more info on these best balance transfer credit cards in Australia.

Citi Rewards (Balance Transfer Offer)

  • Balance Transfer: 0% for 26 months with 1.5% transfer fee.

  • Annual Fee: $49 in 1st year and $149 p.a. thereafter.

  • Purchase Rate: 21.49% p.a.

Why We Like It:

A rewards credit card that comes with a good mix of premium benefits is what sums up the Citi Rewards (Balance Transfer Offer).  

Its long balance transfer offer of 0% for 26 months has a 1.5% transfer fee. Any remaining transferred balances will revert to the cash advance rate of 22.24% p.a.

As an added bonus, its annual fee in the first year is $49 and then $149 p.a. thereafter. 

 

Extra Benefits: 

Its international travel insurance, purchase cover insurance and extended warranty all make for a good mix of complimentary insurances.

New purchases earn 1 point per $1 spent on domestic and international purchases, with domestic capped at $10,000 per statement period. Holding a diners club card can earn you extra points at 2 points per $1 spent on eligible purchases (points are not provided on transfer balances). 

Also, 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. All premium benefitis to make your dining and entertainment experiences even greater. 

 

Income Eligibility: 

The minimum income required is $35,000.

 

HSBC Platinum

  • Balance Transfer: 0% for 22 months with 0% transfer fee.

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

  • Purchase Rate: 19.99% p.a.

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 with no transfer fee.

  • Annual Fee: $0 in 1st year, thereafter $55 p.a.

  • Purchase Rate: 13.99% p.a.

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.

A special annual fee offer of $0 in the first year and a low $55 p.a. thereafter. Its purchase rate also coming in low at 13.99% p.a.

 

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.

 

ANZ Low Rate

  • Balance Transfer: 0% for 22 months with 1.5% transfer fee.

  • Annual Fee: $58 p.a.

  • Purchase Rate: 12.49% p.a.

Why We Like It:

Pay no annual fee in the first year of having the ANZ Low Rate for a long balance transfer of 0% for 22 months and a 1.5% transfer fee.

The annual fee is relatively low at $58 p.a.

It even has wider application eligibility - with a low minimum credit limit of $1,000, making it more eligible for applicants with a lower minimum income and even students. 

Its reverted interest rate is 20.24% p.a. and the purchase rate is 12.49% p.a. 

 

Extra Benefits: 

You get a free membership to Visa Entertainment which gives you access to special offers, ticket pre-sales and more. 

Also, you can get 3 additional cardholders at no cost. 

 

Income Eligibility: 

No set minimum income is required.

 

Westpac Low Rate

  • Balance Transfer: 0% for 16 months with no transfer fee.

  • Annual Fee: $59 p.a.

  • Purchase Rate: 13.74% p.a.

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.

 

Woolworths Everyday Platinum

  • Balance Transfer: 0% for 14 months with no transfer fee.

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

  • Purchase Rate: 19.99% 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 transfe 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 spend 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 with no transfer fee.

  • Annual Fee: $0.

  • Purchase Rate: 18.99% p.a.

Why We Like It:

The Virgin No Annual Fee (BT Offer) is a standout on our list with a no transfer fee for a 0% for 12 months balance transfer. 

For those looking for a complete no fee balance transfer then you've definitely found it!

It has a reverted interest rate of 21.99% while its purchase rate is 18.99% p.a. And its minimum credit limit is $2,000. 

 

Extra Benefits: 

For mobile payments, this card can be used on the Samsung Pay app. 

 

Income Eligibility: 

The minimum income required is $25,000.

 

See other articles you might like:

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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