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

%
Promoted
Platinum Credit Card
Balance Transfer0% p.a. balance transfer for 22 months
Balance Transfer Rate
0%for 22 months then 21.99%
Annual Fee
$129
Potential Savings
$1,565
Fees & Interest
$258
Promoted
Virgin Australia Velocity Flyer Card (Balance Transfer & Points Offer)
Balance TransferEarn 3 bonus Velocity Points on top of your standard earn rate for each eligible $1 spent per month in the first 3 months and 0% p.a. on balance transfers for 18 months when you apply by 28 February 2018
Balance Transfer Rate
0%for 18 months then 20.99%
Annual Fee
$64for 12 months then $129
Potential Savings
$1,539
Fees & Interest
$284
Promoted
Everyday Platinum Credit Card
Gift CardsGet a $50 Woolworths eGift Card when you apply by 31 March 2018
Balance Transfer Rate
0%for 14 months then 21.99%
Annual Fee
$0for 12 months then $49
Potential Savings
$1,629
Fees & Interest
$195
First
Balance Transfer0% p.a. on balance transfers for the first 18 months
Balance Transfer Rate
0%for 18 months then 21.49%
Annual Fee
$30
Potential Savings
$1,749
Fees & Interest
$74
Essential Credit Card
Balance Transfer0% p.a. on balance transfers for the first 12 months
Balance Transfer Rate
0%for 12 months then 14.99%
Annual Fee
Potential Savings
$1,727
Fees & Interest
$97
Low Rate Card
Balance TransferOnline only special offer of 0% p.a. on balance transfers for 30 months
Balance Transfer Rate
0%for 30 months then 21.49%
Annual Fee
$0for 12 months then $59
Potential Savings
$1,705
Fees & Interest
$118
Rainbow Vertigo Card
Balance Transfer0% p.a. for 18 months on balance transfers (1% balance transfer fee applies) and $0 annual fee for the first year
Balance Transfer Rate
0%for 18 months then 21.49%
Annual Fee
$0for 12 months then $55
Potential Savings
$1,696
Fees & Interest
$127
Qantas Discovery Card
Balance Transfer0% p.a. on balance transfers for the first 12 months
Balance Transfer Rate
0%for 12 months then 20.74%
Annual Fee
Potential Savings
$1,686
Fees & Interest
$137
Velocity Escape Card
Balance Transfer0% p.a. on balance transfers for the first 12 months
Balance Transfer Rate
0%for 12 months then 20.74%
Annual Fee
Potential Savings
$1,686
Fees & Interest
$137
Low Rate Credit Card
Balance Transfer0% p.a. balance transfer for 20 months
Balance Transfer Rate
0%for 20 months then 21.99%
Annual Fee
$79
Potential Savings
$1,663
Fees & Interest
$161
Low Rate
Balance Transfer0% p.a. on balance transfers for the first 15 months. No Balance Transfer Fee.
Balance Transfer Rate
0%for 15 months then 21.74%
Annual Fee
$58
Potential Savings
$1,636
Fees & Interest
$187
Low Rate Card
CashbackReceive $100 cashback when you apply by 28 February 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
Platinum
Balance Transfer0% p.a. on balance transfers for the first 18 months
Balance Transfer Rate
0%for 18 months then 21.49%
Annual Fee
$0for 12 months then $87
Potential Savings
$1,629
Fees & Interest
$195
Low Rate Credit Card
Balance Transfer0% p.a. on balance transfers for 13 months and $0 annual fee for the first year
Balance Transfer Rate
0%for 13 months then 21.74%
Annual Fee
$0for 12 months then $49
Potential Savings
$1,599
Fees & Interest
$225
Low Rate Platinum
Balance Transfer0% p.a. on balance transfers for the first 15 months. No Balance Transfer Fee.
Balance Transfer Rate
0%for 15 months then 21.74%
Annual Fee
$99
Potential Savings
$1,543
Fees & Interest
$280
Platinum (Balance Transfer Offer)
Balance Transfer0% p.a. for 26 months on balance transfers when you apply by 30 June 2018
Balance Transfer Rate
0%for 26 months then 21.74%
Annual Fee
$49for 12 months then $149
Potential Savings
$1,525
Fees & Interest
$298
Platinum (Bonus Rewards Offer)
Bonus PointsReceive 100,000 Bonus Citi Reward Points and 0% p.a. on balance transfers for 15 months when you apply by 30 June 2018
Balance Transfer Rate
0%for 15 months then 21.74%
Annual Fee
$49for 12 months then $149
Potential Savings
$1,430
Fees & Interest
$393
Platinum
Balance Transfer Rate
0%for 12 months then 17.99%
Annual Fee
$125
Potential Savings
$1,419
Fees & Interest
$404
Platinum Edge Credit Card
Balance Transfer0% p.a. on balance transfers for the first 12 months
Balance Transfer Rate
0%for 12 months then 20.74%
Annual Fee
$195
Potential Savings
$1,225
Fees & Interest
$598
Virgin Australia Velocity Flyer Card (Purchase & Balance Transfer Offer)
Purchase Offers0% p.a. for 14 months on purchases when you apply by 28 February 2018
Balance Transfer Rate
0%for 6 months then 20.99%
Annual Fee
$129
Potential Savings
$1,054
Fees & Interest
$769
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.

Compare your product with the big 4 banks, or add more products to compare