Balance transfer calculator

Find a credit card that best suits your needs. Compare interest rates, balance transfer rates, annual fees and more from Australia's leading lenders, big and small.

Calculate how much you could save by transferring your balance to a 0% card balance deal

Credit Card Balance

Monthly Repayment

Current Interest Rate

%
Low Rate Card
CashbackReceive $100 cashback when you apply by 30 June 2018. Offer applies when you spend $500 per month for the first 3 months.
Balance Transfer Rate
0%
for 14 months then 21.69%
Annual Fee
$49
Potential Savings
$1,630
Fees & Interest
$193
Compare
Gold Low Rate
Balance Transfer Rate
Annual Fee
Potential Savings
$1,347
Fees & Interest
$476
Compare
Low Rate First Mastercard (ages < 25)
Balance Transfer Rate
Annual Fee
$29
Potential Savings
$1,270
Fees & Interest
$553
Compare
Low Rate Mastercard
Special$0 annual fee for the first year when you apply by 30 June 2018
Balance Transfer Rate
Annual Fee
$0
for 12 months then $45
Potential Savings
$1,233
Fees & Interest
$591
Compare
Low Rate Platinum Mastercard
Balance Transfer Rate
Annual Fee
$89
Potential Savings
$1,129
Fees & Interest
$695
Compare
RSPCA Rescue Mastercard
Balance Transfer Rate
Annual Fee
$45
Potential Savings
$750
Fees & Interest
$1,074
Compare
Platinum Rewards Mastercard
Balance Transfer Rate
Annual Fee
$89
Potential Savings
$583
Fees & Interest
$1,240
Compare
Amplify Platinum (Amplify Rewards)
Bonus PointsReceive 50,000 bonus points when you spend $2,000 on eligible purchases within 90 days of approval. Apply by 26 Sep 2018.
Balance Transfer Rate
Annual Fee
$99
Potential Savings
$578
Fees & Interest
$1,246
Compare
Rewards
Bonus Points25,000 bonus Reward Points when you make one eligible purchase in the first 3 months. Eligibility criteria, T&Cs, fees and charges apply.
Balance Transfer Rate
Annual Fee
$80
Potential Savings
$552
Fees & Interest
$1,271
Compare
Amplify Platinum (Amplify Rewards)
Bonus PointsEarn 50,000 Bonus Amplify Points when you spend at least $2,000 on eligible purchases within 90 days of card approval. Apply by 26 Sep 2018.
Balance Transfer Rate
Annual Fee
$99
Potential Savings
$528
Fees & Interest
$1,295
Compare
Rewards Platinum
Bonus Points65,000 bonus Rewards Points and $50 back to your new ANZ Rewards Platinum when you make one eligible purchase in the first 3 months. Eligibility criteria, T&Cs, fees and charges apply.
Balance Transfer Rate
Annual Fee
$95
Potential Savings
$494
Fees & Interest
$1,330
Compare
Frequent Flyer
Bonus Points25,000 bonus Reward Points when you make one eligible purchase in the first 3 months. Eligibility criteria, T&Cs, fees and charges apply.
Balance Transfer Rate
Annual Fee
$95
Potential Savings
$460
Fees & Interest
$1,364
Compare
Qantas Platinum Mastercard
Balance Transfer Rate
Annual Fee
$149
Potential Savings
$352
Fees & Interest
$1,471
Compare
Assumptions | Australian Credit License 316710.

A balance transfer is where you transfer part or all of a credit card balance to another card or financial provider. The main reason people choose balance transfers is to take advantage of promotional periods offering lower interest rates.

What are the pros and cons of balance transfers?

Overall, there are many good reasons to consider a balance transfer. However, it’s important to be aware of sneaky fees and revert rates that can hit you after the promotional period.

The pros

  • Balance transfers often let you switch to credit cards with lower interest rates, so you can pay down your balance quicker.
  • If you have multiple credit card balances scattered across different cards, you can consolidate them onto one card, making your debt simpler to manage.
  • You can transfer your balance onto a card with better rates, insurances, rewards or other attractive introductory offers.
  • A balance transfer encourages you to set a clear budget in order to repay your debt within the promotional period.
  • Balance transfer offers encourage credit card providers to remain competitive with their interest rates and offers

The cons

  • Balance transfers can come with fees, such as balance transfer fees and annual fees.
  • After the promotional period ends, the card will often revert to a higher interest rate, which can place pressure on any unpaid balance.
  • Using balance transfers can affect your credit score or credit rating.
  • Any additional purchases made on the balance transfer card will accrue interest, so you’re at risk of accumulating more debt.

What is a credit card balance transfer calculator?

Determining exactly how much you’ll save on a balance transfer can be tricky. Fortunately, credit card balance transfer calculators can help to eliminate the guess work by showing you:

  • How long it will take to pay off your card making minimum repayments
  • How much you'll save by choosing to make higher repayments
  • How much interest you’ll pay after the promotional interest period is over

How do balance transfer calculators work?

Once you find a credit card that you’d like to compare with your existing one, you simply input data into the calculator. Most calculators only require four simple steps:

  1. Enter the details of your current card, including the credit card balance, interest rate and annual fee.
  2. If you have multiple balances you wish to transfer, enter those details as above.
  3. Enter the details of the new card you want to compare. The calculator will automatically show the minimum monthly payment, but you can change this to your preferred monthly repayment.
  4. Calculate the results to see how much money you’ll save over the life of the balance transfer. As the comparison cards will be side by side, you’ll be able to easily determine which provides the best savings.

Who offers balance transfer calculators?

Most major banks, credit card providers and financial comparison sites offer calculators, which are easy to access and free to use.

^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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