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

Product Name Card
Balance Transfer Rate
Annual Fee
Potential Savings
Fees & Interest
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Visa
ANZ First
Balance Transfer0% p.a. on balance transfers for the first 18 months

Free supplementary cardsPurchase protection

Balance Transfer Rate
0%
for 18 months then 21.49%
Annual Fee
$30
Potential Savings
$1,749
Fees & Interest
$74

More details

Visa
ANZ Low Rate
Balance Transfer0% p.a. on balance transfers for the first 15 months. No Balance Transfer Fee.

Free supplementary cards

Balance Transfer Rate
0%
for 15 months then 21.74%
Annual Fee
$58
Potential Savings
$1,636
Fees & Interest
$187

More details

Visa
Virgin Money Low Rate Card
CashbackReceive 10% cashback (capped at $100 total) on spend in the first 3 months from card approval when you apply by 31 October 2018.

Balance Transfer Rate
0%
for 14 months then 21.69%
Annual Fee
$49
Potential Savings
$1,630
Fees & Interest
$193

More details

Visa
ANZ Platinum
Balance Transfer0% p.a. on balance transfers for the first 18 months

Free domestic travel insuranceFree international travel insurance

Balance Transfer Rate
0%
for 18 months then 21.49%
Annual Fee
$0
for 12 months then $87
Potential Savings
$1,629
Fees & Interest
$195

More details

Visa
Virgin Money 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, have a chance to win 1 million Velocity points and 0% p.a. on balance transfers for 18 months when you apply by 31 October 2018.

Price guaranteeConcierge

Balance Transfer Rate
0%
for 18 months then 20.99%
Annual Fee
$64
for 12 months then $129
Potential Savings
$1,539
Fees & Interest
$284

More details

Visa
Citi Platinum (Balance Transfer Offer)
Balance Transfer0% p.a. for 24 months on balance transfers

Free international travel insurancePurchase protection

Balance Transfer Rate
0%
for 24 months then 21.74%
Annual Fee
$49
for 12 months then $149
Potential Savings
$1,525
Fees & Interest
$298

More details

Visa
Heritage Bank Platinum

Free domestic travel insuranceFree international travel insuranceFree supplementary cardsPurchase protection

Balance Transfer Rate
0%
for 12 months then 17.99%
Annual Fee
$125
Potential Savings
$1,419
Fees & Interest
$404

More details

Visa
Citi Simplicity
Balance Transfer0% p.a. for 6 months on balance transfers (no balance transfer fee) when you apply by 31 March 2019.

Free supplementary cardsPurchase protection

Balance Transfer Rate
0%
for 6 months then 19.99%
Annual Fee
Potential Savings
$1,409
Fees & Interest
$415

More details

Visa
Heritage Bank Gold Low Rate

Free supplementary cards

Balance Transfer Rate
Annual Fee
Potential Savings
$1,347
Fees & Interest
$476

More details

Visa
Citi Rewards Platinum (Bonus Points Offer)
Bonus PointsEarn up to 200,000 bonus Citi reward Points, take advantage of 0% p.a. on balance transfers for 12 months and a reduced annual fee of $49 p.a. in the first year. Offer ends 31 March 2019.

Free international travel insurancePurchase protection

Balance Transfer Rate
0%
for 12 months then 21.74%
Annual Fee
$49
for 12 months then $149
Potential Savings
$1,325
Fees & Interest
$499

More details

MasterCard
Bendigo Bank Low Rate Mastercard

Free supplementary cardsVip seating

Balance Transfer Rate
Annual Fee
$45
Potential Savings
$1,233
Fees & Interest
$591

More details

MasterCard
Bendigo Bank Low Rate Platinum Mastercard

Free supplementary cardsPurchase protectionPrice guaranteeExtended warranty

Balance Transfer Rate
Annual Fee
$89
Potential Savings
$1,129
Fees & Interest
$695

More details

Visa
Virgin Money Virgin Australia Velocity Flyer Card (Purchase & Balance Transfer Offer)
Purchase Offers0% p.a. for 14 months on purchases and chance to win 1 million velocity points when you apply by 31 October 2018.

Price guaranteeConcierge

Balance Transfer Rate
0%
for 6 months then 20.99%
Annual Fee
$129
Potential Savings
$1,054
Fees & Interest
$769

More details

MasterCard
Bendigo Bank RSPCA Rescue Mastercard

Free supplementary cardsVip seating

Balance Transfer Rate
Annual Fee
$45
Potential Savings
$750
Fees & Interest
$1,074

More details

Visa
ANZ Rewards
Bonus Points25,000 bonus Reward Points when you spend $1500 on eligible purchases in the first 3 months. Eligibility criteria, T&Cs, fees and charges apply.

Partner discounts

Balance Transfer Rate
Annual Fee
$80
Potential Savings
$552
Fees & Interest
$1,271

More details

Visa
ANZ Rewards Platinum
Bonus Points75,000 bonus Rewards Points when you spend $5000 on eligible purchases in the first 3 months. Eligibility criteria, T&Cs, fees and charges apply.

Free domestic travel insuranceFree international travel insurance

Balance Transfer Rate
Annual Fee
$95
Potential Savings
$494
Fees & Interest
$1,330

More details

Visa
ANZ Frequent Flyer
Bonus Points25,000 bonus Qantas Points when you spend $1,500 on eligible purchases in the first 3 months. Eligibility criteria, T&Cs, fees and charges apply.

Partner discounts

Balance Transfer Rate
Annual Fee
$95
Potential Savings
$460
Fees & Interest
$1,364

More details

MasterCard
Bendigo Bank Qantas Platinum Mastercard
Bonus Points80,000 bonus Qantas Points when you spend $2,500 on everyday purchases within 90 days and apply by 31 October 2018.

Free international travel insuranceFree supplementary cards

Balance Transfer Rate
Annual Fee
$149
Potential Savings
$352
Fees & Interest
$1,471

More details

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.

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