Best Balance Transfer Credit Cards

Looking for the best balance transfer credit cards to consolidate your credit card debt with?

We have done all the research and comparison for you. Listed below is a summary of the best balance transfer credit cards that will help you save and reduce your existing credit card balance.

Get off to a brand new start in your finances by simply transferring your balances to the St. George Vertigo MasterCard. Feel the difference of paying lower interest rates, 55 day interest free days on purchases and a low annual fee with additional cardholders at no extra cost!.

• 13.24% p.a. on purchases
• 0.99% p.a. for 12 months on balance transfers
• $55 annual fee
• 21.49% p.a. on cash advances

View the St George Vertigo terms and conditions here.

Best Balance Transfer Credit Cards:

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
St George Vertigo	Offering great value with an introductory offer on both purchases and balance transfers with a low annual fee.	13.24%	0.99% for 12 months	$55	21.49%
Bank of Melbourne Vertigo Credit Card	The balance transfer credit card perfect for those who want to pay off their debt with a low balance transfers and a low annual fee.	13.24%	0.99% for 12 months	$55	21.49%
Bankwest Breeze MasterCard	Bankwest Breeze Mastercard offers an amazingly low introductory purchase rate and balance transfer for 12months. It’s a great way to recharge your budget!	10.99%	4.99% for 12 months	$69	21.99%
Bankwest Zero MasterCard	Enjoy a low interest rate offer on both balance transfers and purchases.	1% for 6 months (reverts to 17.99%)	4.99% for 12 months	$0	18.99%
Citibank Clear Platinum Card	A low rate Credit Card with .25% off a range of Citibank World Privileges, inc. shopping, dining and travel.	11.99%	2.9% for 12 months	$99	21.74%

The best balance transfer credit card is the one that suits your specific needs. In order to figure that out you have to understand the differences of each type of offer and then evaluate your own finances and debt to see which one is best for your needs.

Best 0% For 6 Months Balance Transfer Offes

A lot of consumers think this card is the very best amongst the lot. However, in order to make sure you are not actually losing money when you take out a 0% offer for 6 months you must read the information below first:

1. These offers charge no interest on your transferred balance for six months. Usually the first six months you own the card.
2. A 0% for six month offer is good for those customers who have a relatively small amount of debt that they can completely pay off within six months.
3. There is no interest calculated on this debt for six months. Once the six months expires the remainder of the debt is charged a predetermined standard interest rate.
4. If you have a $1,000 debt at 10% interest you would spend $600 in interest fees over six months. That would reduce to $0 if you did a 0% balance transfer.

Best 6 Month Balance Transfer Credit Cards:

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
ANZ Platinum Credit Card	An introductory balance transfer offer for 6 months plus no annual fee for the first year..	0% for 6 months (reverts to 19.24%)	0% for 6 months	$0 annual fee for the first year( $87 thereafter)	20.99%
HSBC Credit Card	Pay off your existing credit card balance over 6 months without having to pay an annual fee	17.99%	0% for 6 months with 2% handling fee	$0	21.99%
Virgin No Annual Fee Credit Card	Free yourself and save with $0 annual fee for life, a low rate on balance transfers for 6 months and a low purchase rate.	18.99%	2.9% for 6 months	$0	20.99%
Westpac Low Rate Card	Enjoy a low ongoing rate on purchases, a low rate on balance transfers for 6 months and a low annual fee.	0% for 6 months (reverts to 13.49%)	0% for 6 months	$45	21.49%
Westpac Earth Classic	Earn up to 1 Qantas Frequent Flyer point per $1 spent on everyday purchases plus enjoy a low rate on balance transfers for 6 months.	19.99%	0.99% for 6 months	$75	21.49%

Best 9 Month Balance Transfer Offers

Consumers with substantial debt will most likely be more attracted to this type of card. It gives you a reasonable time frame to clear your credit card debt once and for all if done right. Read on to see why and how:

1. The 9 month balance transfer offer is for people with slightly higher debts that they cannot pay off within six months.
2. A good 9 month balance transfer will charge 2% or less in interest which will incur a small fee for the cardholder, but usually much less then they would spend if they left the debt on their current credit card.
3. Each month that you carry a balance on your credit card you will be charged the interest rate, for example 2%, of whatever remains on the balance at the end of the month.
4. If you have a $2,000 debt at 10% interest you would spend $1,800 on interest fees in 9 months. If you transferred your balance that would be reduced to around $360 for the 9 months.

Best 9 Month Balance Transfer Credit Cards:

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
Citibank Rewards Credit Card – Platinum Card	Earn rewards points per $1 spend with a low balance transfer offer.	20.99%	0.9% for 9 months	$199	21.74%
Citibank Rewards Credit Card – Signature Card	A reward credit card with a low interest rate on balance transfers.	20.99%	0.9% for 9 months	$395	21.74%
Virgin Flyer Credit Card	A introductory offer on balance transfers plus earn 1 Velocity Point per $1 spent up to $1,500 per month and then 1 Velocity Point for every $2.	20.99%	1.9% for 9 months	$99	20.99%

Best 12 Month Balance Transfer Offers

How good are these 12 month balance transfer offers? If you’ve always wanted to know more about them, read these important points:

1. A 12 month balance transfer offer is for those people who have one or several debts to transfer that are fairly significant and will require at least one year to pay off.
2. The best 12 month balance transfer offer will charge 3% or less in interest on the balance of the card.
3. Each month the balance that remains at the end of the billing cycle will be charged the interest rate, for example 3% which will add to the total card debt.
4. If you have a card that has a $3,000 balance at 10% you would spend $3,600 on interest fees over twelve months. If you transferred it to a card with only a 3% interest rate that amount would reduce to $1,080 over twelve months.

Best 12 Month Balance Transfer Credit Cards:

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
Bank of Melbourne Vertigo Credit Card	Low 12 month balance transfer offer. Apply by 29 February 2012.	13.24%	0.99% for 12 months	$55	21.49%
Bankwest Zero MasterCard	Enjoy a great introductory offer.	1% for 6 months (reverts to 17.99%)	4.99% for 12 months	$0	18.99%
Bankwest Breeze MasterCard	Save with a special introductory rate on purchases and balance transfers for the first 12 months. Access to RewardMe instant rewards & discounts	10.99%	4.99% for 12 months	$69	21.99%

Best 15 Month Balance Transfer Offers

Having the opportunity to pay off your credit card debt in the next 15 months sounds like a good way to do so. Find out whether you are the right candidate for these cards and how exactly they work:

1. A 15 month balance transfer is best for people who have very high credit card debt or who need a lot of time to make the money needed to clear off that debt.
2. The best 15 month balance transfer offers charge 4% or less in interest on the debt.
3. The interest rate will be charged to whatever remains on the debt at the end of each billing cycle. The interest is added to the total debt on the card.
4. Credit cards that have a $4,000 balance at 10% would cost cost $6,000 in interest fees over 15 months. If the interest rate was reduced to 4% that amount would go down to just $2,4000 in interest charges.

Best For Life Balance Transfer Offers

For life! This sounds too good to be true, but, for some people it actually is. If you’re curious as to how these cards work, read this information:

1. For life balance transfer deals are for those people who have extremely high debt and need an extended time period to clear it out. In this case the term ‘for life’ means until the balance transfer is paid in full, not for the life that you own the card.
2. The best balance transfer for life credit cards have an interest rate of 5% or less.
3. Interest is charged at the end of the month on whatever amount is remaining on the balance transfer debt. Each month the interest fees are added to the balance.
4. If you owe $5,000 on a credit card at 10% for 24 months you would spend $12,000 in interest fees. If you reduced that to 5% in interest your cost would be $6,000 in fees.

Best Longterm and For Life Offers:

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
Bank of Melbourne Vertigo Credit Card	Enjoy this great introductory offer from Bank of Melbourne. Limited time offer.	13.24%	0.99% for 12 months	$55	21.49%
Citibank ReadyCredit	A low balance transfer rate, plus a low interest rate on purchases months with No annual fee.	18.99%	2.9% for 15 months	$0	18.99%
NAB Gold Card	Benefit from gold credit card advantages including travel insurance, higher credit limits and VIP Lost card cover.	19.74%	1% for 12 months	$90	21.74%
Bankwest Breeze MasterCard	Save with a low ongoing rate on purchases, 55 days interest free and a low annual fee.	10.99%	4.99% for 12 months	$69	21.99%
Citibank Rewards Credit Card – Platinum Card	A low, long balance transfer offer plus enjoy an ongoing earn rate of 1.25 points per $1 spent on domestic purchases and 3 points per $1 spent on international purchases.	20.99%	0.9% for 9 months	$199	21.74%
Virgin Flyer Credit Card	An impressive balance transfer rate plus earn 1 Velocity Point per $1 spend up to $1,500 per month on every retail purchase on your VISA Card.	20.99%	1.9% for 9 months	$99	20.99%
Bankwest Zero MasterCard	A great $0 annual fee credit card, with great introductory offer.	1% for 6 months (reverts to 17.99%)	4.99% for 12 months	$0	18.99%

By now you should have a good understanding about the different types of balance transfer cards to pick the best offer for your particular circumstances.

Posted on Wednesday, August 4th, 2010 at 5:45 pm