If you're like many other Aussies, you may have acquired a sizeable balance on your credit card throughout the year that you're eager to get on top of.
But where do you start? How about with one of these top balance transfer cards, hand-picked by the Mozo editors to help make this the year you beat credit card debt. Check them out below*.
St.George Vertigo Platinum
$0 annual fee in the first year ($99 after)
0% balance transfer offer for 24 months
Low 12.74% purchase rate
With a massive 24 interest free months to ditch your existing credit card debt, a $0 annual fee in your first year (if you apply between 1 November and 13 December 2017) and a low 12.74% purchase rate, this piece of plastic is a real budget beater. It’s really no surprise that it was a 2017 Mozo Experts Choice award winner!
Although it comes with a shorter balance transfer offer than others on this list, this card really does offer great value on a number of levels - evidenced by its multiple 2017 Mozo Experts Choice Awards. With a low revert rate and no annual fee at all, it’s a great value offer, whether you’re paying off debt, or spending again after clearing your balance.
Offering up to 20 months interest free for balance transfers, the Westpac Low Rate credit card is a great option for anyone looking to chip away at their debt. Add on a low $59 annual fee and 13.49% purchase rate, and this could be the piece of plastic that keeps your budget on track.
0% balance transfer offer for 16 months (2% handling fee)
Complimentary extended warranty and purchase security insurance
If you’re looking to pay off your debt with a basic credit card offering great value for money, then look no further. This big bank offering has none of the frills and all of the convenience - just be sure to clear your debt within the balance transfer period to avoid the 19.74% revert rate.
You’ll have plenty of time to pay off your balance with this piece of plastic, with up to 14 months interest free. Better still, you won’t be charged an annual fee for the first year and you’ll have plenty of additional perks to take advantage including a $50 Woolworths gift card.
0% p.a. on balance transfers for the first 12 months (1% BT fee)
Earn 1 Velocity Point for every $1 spent
Featuring a lengthy 12 month balance transfer offer and no annual card fee, the American Express Velocity Escape Card could be the right option to help you can’t down on your debt and card expenses. Just make sure you pay down your debt in that first 12 months, because the balance transfer rate reverts to the 20.74% purchase rate afterwards.
There’s a lot to love about this little piece of plastic. And if you’re aiming to smash your 2016 debt, the fact that it’s one of the few long term balance transfer offers with no handling fee is a good place to start. While the $129 annual fee might be a bit higher than some of the other cards on this list, it’s more than offset by the 1.25 Suncorp points per $1 spent earning rate and the suite of complimentary insurances.