How to Choose the Right Balance Transfer Card in Australia (2025 Edition)

Carrying a balance on your credit card with interest rates over 18%? A balance transfer card could be your smartest move in 2025. Let’s break down how to pick the right one to cut your interest and get ahead of debt faster.

What Is a Balance Transfer Card?

A balance transfer card lets you move existing credit card debt to a new card with a lower — often 0% — interest rate for a set period. In Australia, these promo periods range from 6 to 28 months.

Key Factors to Compare

• Introductory rate: Look for 0% interest, ideally 18+ months
• Balance transfer fee: Usually 0–3% of the transferred amount
• Revert rate: The interest you’ll pay after the promo ends
• Annual fee: Some cards waive this for the first year
• Eligibility: You’ll often need a good credit score

Top Providers in Australia (2025)

• Commonwealth Bank – 0% for 15 months, $0 transfer fee
• Westpac – 0% for 18 months, 1% fee
• ANZ – 0% for 20 months, $49 annual fee

Pro Tips

• Pay off the balance before the intro period ends
• Don’t spend on the new card — interest applies immediately on new purchases
• Set automatic repayments to avoid late fees

When to Avoid It

• You have poor credit — your application may be rejected
• You plan to spend on the card — it defeats the purpose

Bottom Line: Balance transfer cards can save you thousands — but only if used strategically. Choose one with low fees, long promo periods, and a clear payoff plan.

Disclaimer: This content is general information only. Please compare offers directly from bank websites before applying.