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If you’re carrying a balance on a credit card charging 19–22% interest, the monthly charge is significant — money that does nothing except service the cost of the debt itself.
Check current 0% balance transfer offers and apply:
COMPARE BALANCE TRANSFER CARDS →
✓ Official site • ✓ Free • ✓ No registration
Low score limiting your options? See how to rebuild strategically:
No existing card yet? The newcomers guide has the most accessible options:
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A 0% balance transfer card lets you move that debt to a new card and pay zero interest for a promotional period — typically 20–32 months in Australia’s current market. The only cost is a one-time transfer fee of 1–3%.
📋 On this page:
Best Balance Transfer Offers in Australia — May 2026
| Card | Transfer Rate | Promo Period | Transfer Fee | Revert Rate | Annual Fee |
|---|---|---|---|---|---|
| Westpac Low Rate | 0% p.a. | 32 months | 2% | 13.74% | $59 |
| NAB Low Rate | 0% p.a. | 28 months | 2% | 12.99% | $59 |
| ANZ Low Rate | 0% p.a. | 25 months | 2% | 12.49% | $58 |
| CommBank Low Rate | 0% p.a. | 22 months | 2% | 13.49% | $59 |
| Bankwest Zero | 0% p.a. | 12 months | 1.5% | 19.99% | $0 |
💡 Westpac’s 32-month offer is the longest in the Australian market as of May 2026. On a $5,000 balance at 20% p.a., transferring saves approximately $2,800 in interest — minus the 2% transfer fee ($100).
Step-by-Step: How to Transfer Your Balance
- Check your current card balance: The amount you want to transfer
- Apply for the new card: Most require a credit check — ensure your file is clean
- Request the transfer: Usually during application, or within 30–60 days of approval
- Provide your old card details: Account number and amount to transfer
- Continue paying minimums on old card until transfer is confirmed (5–10 business days)
- Set up automatic payments: Divide total balance by 0% months to find your monthly target
- Keep the old card open but remove the temptation to spend on it
⚠️ Do not make new purchases on the balance transfer card. New purchases often attract the standard purchase rate immediately — and payments are applied to the 0% balance first, leaving new purchases accumulating interest.
What Happens When the 0% Period Ends
The revert rate is the rate your remaining balance attracts once the promotional period expires. It’s the most important number in a balance transfer deal.
- Westpac reverts to 13.74% p.a. — lower than most cards’ standard rate
- ANZ reverts to 12.49% p.a. — the lowest revert rate among the major four
- Bankwest Zero reverts to 19.99% p.a. — high, but the shorter period and lower fee suit smaller balances
- The goal: pay the balance to $0 before the revert date — not before, not after
✅ Calendar the revert date the day you receive your new card. Set a monthly payment that clears the balance with 1–2 months to spare. Arriving at month 31 of a 32-month deal with $2,000 remaining is common and preventable.
Use the government calculator to see how much a balance transfer saves:
✓ Official site • ✓ Free • ✓ No registration
Frequently Asked Questions
Can I transfer a balance from multiple cards? ▼
Yes — most issuers allow transfers from multiple cards in a single application, up to 80–95% of your new credit limit. You’ll need the account number and balance for each card.
Does a balance transfer affect my credit score? ▼
The application creates a hard enquiry, which temporarily reduces your score. Many people keep the old card open with a zero balance to maintain available credit.
Can I transfer a balance from a store credit or personal loan? ▼
This depends on the issuer. Some accept transfers from store cards and personal loans — check the terms carefully, as eligible debt types are often in small print.
What if I can’t pay off the balance before the 0% period ends? ▼
The remaining balance reverts to the standard rate. You can apply for another balance transfer card — though multiple applications in a short period can affect your score.
This article is for informational purposes only and does not constitute financial or legal advice. Credit card terms, rates and offers change frequently. Always verify current conditions directly with the issuing bank before applying.
