Best Balance Transfer | 0% Interest Free

St. George Vertigo

Advice

Winner of Money Magazine’s Best of the Best Award for Cheapest Credit Card!

Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	11.89% p.a.
Balance Transfers:	11.89% p.a.
Cash Advance:	20.49% p.a.
Annual Fee:	$55 p.a.
Standard Features
Credit Limit:	Subject to Status
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia

Aussie Mastercard

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Advice

The Aussie card has one of the Lowest Standard Rate of any card on the market!

Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	11.99% p.a.
Balance Transfers:	11.99% p.a.
Cash Advance:	17.99% p.a.
Annual Fee:	$49 p.a.
Standard Features
Credit Limit:	Subject to Status
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia You have an Income of over $15,000.pa If you are NOT permanent resident/citizen of Australia you must have an Income of over $50,000.pa

NAB Low Rate

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Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	12.7% p.a.
Balance Transfers:	12.7% p.a.
Cash Advance:	19.99% p.a.
Annual Fee:	$49 p.a.
Standard Features
Credit Limit:	Minimum $500
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You are NOT Self-employed You have a Good Credit History You are a permanent resident/citizen of Australia You DO NOT have an RMB/RSD (Roadside Mailbox or Roadside Delivery)as the only form of street address

Credit Card Benefits

Live life at a great low rate

HSBC Credit Card

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Advice

No Annual Fee for 1st year

Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	15.99% p.a.
Balance Transfers:	19.99% p.a.
Cash Advance:	19.99% p.a.
Annual Fee:	$49 p.a.
Standard Features
Credit Limit:	Subject to Status
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia You have a Income of over $20,000.pa

NAB Gold Card

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Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	19.74% p.a.
Balance Transfers:	19.74% p.a.
Cash Advance:	19.74% p.a.
Annual Fee:	$90 p.a.
Standard Features
Credit Limit:	Minimum $5000
Interest Free Days:	Up to 44 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You are NOT Self-employed You have a Good Credit History You are a permanent resident/citizen of Australia You DO NOT have an RMB/RSD (Roadside Mailbox or Roadside Delivery) as the only form of street address You have an Income of over $50,000 p.a

Credit Card Benefits

Receive special insurances for Gold cardholders including complimentary National Gold Overseas Travel Insurance!

NAB Standard Card

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Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	19.74% p.a.
Balance Transfers:	19.74% p.a.
Cash Advance:	19.74% p.a.
Annual Fee:	$30 p.a.
Standard Features
Credit Limit:	Minimum $500
Interest Free Days:	Up to 44 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You are NOT Self-employed You have a Good Credit History You are a permanent resident/citizen of Australia You DO NOT have an RMB/RSD (Roadside Mailbox or Roadside Delivery) as the only form of street address

Credit Card Benefits

Link NAB Standard Card to FlyBuys at no extra cost

Citibank Clear

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Advice

Get up to 4 additional card holders - annual fee of $19 each.

Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	12.49% p.a.
Balance Transfers:	12.49% p.a.
Cash Advance:	20.74% p.a.
Annual Fee:	$65 p.a.
Standard Features
Credit Limit:	$20,000
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia You have an Income of over $20,000.pa

ANZ "Low Rate" Card

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Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	12.41% p.a.
Balance Transfers:	12.41% p.a.
Cash Advance:	20.41% p.a.
Annual Fee:	$58 p.a.
Standard Features
Credit Limit:	Subject to Status
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia You have an Income of over $15,000.pa

ANZ Balance

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Advice

There is a $22p.a charge for the Rewards Program Fee (per card) and a $10p.a additional card holder fee

Introductory Offer
Balance Transfer Rate:	0% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	13.41% p.a.
Balance Transfers:	13.41% p.a.
Cash Advance:	20.41% p.a.
Annual Fee:	$79 p.a.
Standard Features
Credit Limit:	$15,000
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia You have an Income of over $15,000.pa

Credit Card Rewards

Repay $1 from your Balance and you earn 1 Reward point.
You can exchange these points for a choice of - Cashback, Shopping Vouchers or Gift Cards.

St. George Platinum

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Introductory Offer
Balance Transfer Rate:	3.99% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	14.25% p.a.
Balance Transfers:	14.25% p.a.
Cash Advance:	20.49% p.a.
Annual Fee:	$89 p.a.
Standard Features
Credit Limit:	Subject to Status
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia

Credit Card Benefits

Travel Insurance - Pay for your overseas return travel tickets with your St.George Platinum Card and you automatically receive up to three months free travel insurance.
Extended warranty insurance - Receive up to 12 months free extended warranty on the manufacturer’s expressed Australian warranty.
Best price guarantee - This guarantee enables you to receive the best price on most new personal items. If soon after purchasing a good you see it at a cheaper price, you can claim the difference back.
Personal Concierge Service - Available 24x7 at home or anywhere you’re travelling.
Domestic flight inconvenience insurance - When your domestic flight is paid on your St.George Platinum Card, you, your spouse and dependent children are covered for the entire holiday.

Commonwealth Gold

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Introductory Offer
Balance Transfer Rate:	5.99% p.a. for 5 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	20.14% p.a.
Balance Transfers:	20.14% p.a.
Cash Advance:	20.14% p.a.
Annual Fee:	$114 p.a.
Standard Features
Credit Limit:	Subject to Status
Interest Free Days:	Up to 55 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia You have an Income of over $50,000.pa

Credit Card Benefits

3 months International Travel Insurance
Commission-free travellers' cheques
Purchase Security Insurance
Extended Warranty Insurance
Guaranteed Pricing Scheme
Secure Sentinel Membership

ANZ First Card

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Advice

No annual account fee for the first 12 months

Introductory Offer
Balance Transfer Rate:	7.99% p.a. for 6 mths
Purchase Rate:	N/A
Standard Rates
Purchases:	19.24% p.a.
Balance Transfers:	19.24% p.a.
Cash Advance:	19.24% p.a.
Annual Fee:	$30 p.a.
Standard Features
Credit Limit:	Subject to Status
Interest Free Days:	Up to 44 days
On-Line Banking:	Yes
Approval Criteria
You are at least 18 Years of Age You have a Good Credit History You are a permanent resident/citizen of Australia You have an Income of over $15,000.pa

Credit Card Benefits

Annual Fee only $26 if linked to ANZ Access Account
Extended Warranty of 12 months after expiry of manufactures (up to 5 years)
90 day purchase security
Online Fraud Protection
3 Free Additional Cardholders

Balance Transfers Explained

What are balance transfers?

Credit card companies offer a range of features that are designed to attract new customers. A number of providers offer 0% interest periods on balance transfers allowing money owed on other credit or store cards to be transferred to a new card with a lower rate of interest. This gives you time to pay off your debts without allowing them to spiral out of control by high interest payments.

What kind of offers can I expect to find?

Many of todays providers offer 0% interest on balance transfers for up to 6 months allowing debts to be transferred over with no interest paid for the period specified. Some people follow the 0% cards, transferring their debt from card to card when each period expires to avoid incurring interest. However, most credit cards that offer this feature are subject to an annual fee that is paid upon opening the account regardless of how long you plan to keep the card.

If do not plan to 'chase' the 0% rates then you must always be aware of the standard APR offered after the introductory period. Any balances remaining after this point will be charged at this rate.

What should I be aware of?

Some providers offer credit cards that charge no annual fee, but beware, these often come with a catch. This can be in the form of a reduced number of interest free days, some offering none at all. This means that you will pay the standard interest rate on any purchases you make, with interest instantly applied. The longer you take to pay the balance, the more interest you will accrue.

Providers will always supply clear instructions of the rules and regulations that apply to a card on application. Make sure you read the documentation before applying for a card to ensure you fully understand the terms and conditions.

One of the great things about some of the credit cards currently on offer is that you can get a 0% interest free period on balance transfers without having to sacrifice low purchase rates. Ideally these cards are used to pay off balances before they begin to increase with interest, but if you can clear your debt within the interest free period you are free to take advantage of a low rate on spending for the remainder of time with up to 55 interest free days.

Repayments - how do they work?

Credit card companies require a minimum payment that is to be paid each month. This is the minimum amount you are expected to pay each month, and failure to make this payment will lead to charges applied to your account and can have a negative effect on your credit history.

It is recommended that you pay off more than the minimum amount, as your repayments will seem never-ending. For example, if you had a $2,000 debt on a card with a standard interest rate of 15.9 per cent, it would take you over 29 years to clear with a 2% $5 minimum payment. However, if you bumped up your monthly payments to $100, you would be debt free in just two years.

Is a balance transfer credit card my best option?

Balance transfer cards are most suited for people that wish to clear their existing debts. A good technique for ensuring the debt is cleared within the interest free period is by dividing the amount owed by the number of interest free months. For example if you owe $1,600 and you transfer the debt to a card that offers 6 months 0% on balance transfers, you should divide $1600 by 6 months, then set up a monthly bank transfer of $266.66.

See our Best Balance Transfer Credit Cards.

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