Balance transfer
credit cards

A balance transfer credit card can help you to reduce your interest payments and get out of debt. See how much you could save by transferring to one of the balance transfer deals on Mozo in the table below.

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How do balance transfer credit cards work?

Balance transfer credit cards let you move debt from an existing credit card (or store card) where you might be paying interest as high as 20% or more to a new card with 0% or low interest. The balance transfer period will depend on the credit card provider regardless of whether you get a 12 month or 18 month interest free period it can be a great way to save big time on interest and pay off that debt!

Are there fees or conditions for balance transfer deals?

Some credit cards will have a BT handling fee which is usually a percentage of the amount of money you transfer to the new card. Most balance transfer cards will come with annual fees. Another trap to watch out for is that if you don't pay off the debt within the period of the balance transfer, the interest rate can shoot up to a cash or purchase rate of 20% or more. For more information on balance transfer tricks and tips, read our balance transfers explained at last guide.

So how do I apply online?

Applying for a balance transfer credit card couldn't be easier. Once you've found the deal of your (financial) dreams here on Mozo simply hit 'go to site', to the right of the credit card. You'll be taken to the credit card provider, and subject to approval, can transfer that balance pronto.

Balance transfer calculator: how much money could you save?
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I need to transfer

I can repay

each month

My current interest rate is

% p.a.

My current annual fee is

Transfer amount:

$

Monthly repayment:

$

Current interest rate:

%

Current annual fee:

$

Change my values

We've updated the table to show your savings! (how are they calculated?)

Balance transfer credit card comparisons on Mozo - rates updated daily

Want more? Compare all 219 credit cards in the Mozo comparison engine.

Credit Card Resources

Views, news, tips and guides to help find the best credit card for you.

Balance transfer credit cards

Have you racked up debt on your credit card with a high interest rate attached? If you sighed “yes” then a balance transfer card could help you ditch that debt for good.

A balance transfer works by allowing you to move your existing credit card debt across to a new credit card and pay low or no interest at all on your transferred debt for a set period, usually between 3 - 24 months. The obvious benefit is that without a hefty interest rate hanging over your head you can repay that debt faster, because more of your repayments are going towards your balance rather than interest charges.

How much could I save with a balance transfer? 

How do I avoid the traps of a balance transfer card? 

How do I transfer my debt?

Am I eligible for a balance transfer?

Does it cost anything to transfer debt?

Are there interest free days with BT cards?

Credit Card Reviews

St.George
St.George credit card review
Overall
8/10
They are ok

They are online.

They are online.

Price
-1/10
Features
-1/10
Customer service
7/10
Convenience
8/10
Trust
8/10

Irvine | New South Wales

reviewed about 19 hours ago

ME
ME credit card review
Overall
10/10
Great customer service

Very helpful.

Very helpful.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10

Terry | Queensland

reviewed about 19 hours ago

SERVICE ONE Members Banking
SERVICE ONE Members Banking credit card review
Overall
3/10
Needs more to offer

There is a time delay and I am not happy with the rates.

There is a time delay and I am not happy with the rates.

Price
3/10
Features
4/10
Customer service
3/10
Convenience
3/10
Trust
3/10

Aurelio | Australian Capital Territory

reviewed about 19 hours ago

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