Trying to pay off your credit card debt, but struggling to balance the repayments against the interest? You may want to consider a balance transfer card. Our comparison service includes a range of cards, balance transfer rates and terms, making it easy for you to compare and save by choosing a product that works for you.
If you want to know more about balance transfer cards before you compare them, keep scrolling down.
reverts to 10.99% p.a.
2% balance transfer fee applies
reverts to $49 p.a.
reverts to 10.99% p.a.
2% balance transfer fee applies
reverts to $69 p.a.
reverts to 22.24% p.a.
reverts to $149 p.a.
reverts to 20.99% p.a.
reverts to $129 p.a.
reverts to 21.74% p.a.
2% balance transfer fee applies
reverts to 19.99% p.a.
reverts to 19.99% p.a.
reverts to 22.24% p.a.
reverts to 21.49% p.a.
reverts to 20.99% p.a.
reverts to 21.74% p.a.
2% balance transfer fee applies
reverts to 21.74% p.a.
2% balance transfer fee applies
A balance transfer card allows you to transfer your existing balance to a new credit card with a lower interest rate. The interest rate is fixed for a specified time at an ‘introductory offer’. These balance transfer offers could include features like a 0% balance transfer rate.
Doing a credit card balance transfer can make it easier to manage your finances and help you to pay off your debt faster. If you have a good credit rating and are looking to pay off the debt on your credit card or even repair your credit rating, you could consider a balance transfer card.
All that being said, this card is also a good option for those who just want a low-interest card.
Balance transfer cards will typically offer low-interest rates for an introductory period – generally between six months to two years. After this period, the interest rate typically reverts to a higher one, so you should try to pay off your debt before this date comes.
Some credit card balance transfers may also have a limit. For example, some providers may only allow you to transfer 70% of your balance to their card, or up to a percentage of your new limit. If that’s the case, and you have a residual balance on your old card, you’ll still need to make payments on that remaining balance.
You can do a credit balance transfer in just a few simple steps:
The fixed period offered on a credit card balance transfer can vary. When you’re looking at your options, it’s important to be reasonable with your repayments − especially when you’re paying off existing debt.
To get the most from this product, ask yourself these questions:
Mistakes can be made with your balance transfer card that could hinder your chances of either saving money or paying off your card. The more common ones include:
There’s no one ‘best’ balance transfer card; the best card for you will be different from someone else’s. When searching for a balance transfer credit card, you might want to consider:
If you’re not quite sure how to weigh up all these aspects, you can compare balance transfer credit cards.
Our credit card comparison service is a simple way to do this. You just need to enter in a couple of details to view the range of credit cards we have on offer. If you find one you like, you can apply for it through us!