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Balance Transfer Rate Credit Card Deals for May

Credit Card Card Information Purchase Rate Balance Transfer
 Interest Free Reward Points Card Fee
ANZ Platinum Credit Card ANZ Platinum Credit Card

Inclusive travel insurance.

 0% p.a
(for first 6 months)		 0% p.a
(for first 6 months)		 Up to 55 days N/A FREE
(for first year)		 Apply Now
CitiBusiness Gold Card CitiBusiness Gold Card

A a low introductory rate of 0% p.a. for up to 4 months on purchases, cash advances and balance transfers. Complimentary travel insurance.

 0% p.a
(for first 4 months)		 0% p.a
(for first 4 months)		 Up to 55 days $1 = 1.25 points $74
(half price for first year)		 Apply Now
Citibank Clear Platinum Credit Card Citibank Clear Platinum Credit Card

Includes complimentary international travel insurance and get discounts at restaurants, hotels, car rentals, department stores and more with Citibank World Privileges.

 0% p.a
(for first 6 months)		 0% p.a
(for first 6 months)		 Up to 55 days N/A $49
(for first year)		 Apply Now
ANZ Low Rate Mastercard ANZ Low Rate Mastercard

0%p.a. on purchases and balances transferred from non-ANZ cards for the first 3 months

 0% p.a
(for first 3 months)		 0% p.a
(for the first 3 months)		 Up to 55 days N/A $58 Apply Now
BoQ Low Rate Credit Card BoQ Low Rate Credit Card

0% p.a. for three months on purchases, cash advances and balance transfers plus half price card fee for first year.

 0% p.a
(for first 3 months)		 0% p.a
(for first 3 months)		 Up to 55 days N/A $27
(for first year)		 Apply Now
HSBC Credit Card HSBC Credit Card

No annual fee and access to offers, discounts and benefits worldwide with HSBC's home&Away Privilege Program

 17.99% p.a
 0% p.a
(for first 8 months)		 Up to 55 days home&Away Privilege Program FREE Apply Now
HSBC Platinum Credit Card HSBC Platinum Credit Card

Get rewards on every dollar plus a comprehensive insurance package.

 19.99% p.a
 0% p.a
(for first 6 months)		 Up to 55 day Earn on every dollar you spend FREE
(For the first year)		 Apply Now
Suncorp Clear Option Gold Card Suncorp Clear Option Gold Card

0% on Balance Transfer for first 6 months plus complimentary international travel insurance.

 20.5% p.a
 0% p.a
(for first 6 months)		 Up to 55 days 1 Reward point for every $1 spend $60
(for first year then $120)		 Apply Now
Citibank BP MasterCard Citibank BP MasterCard

10% cash rebate on the first $600 you spend per month at BP until 31st July 2012

 20.89% p.a
 0% p.a
(for first 6 months)		 Up to 55 Days 10% cash back on purchases at BP until 31 July 2012 $89 Apply Now
HSBC Qantas Frequent Flyer Credit Card HSBC Qantas Frequent Flyer Credit Card

Bonus 20,000 Qantas Frequent Flyer points

 20.99% p.a
 0% p.a
(for first 6 months)		 Up to 55 days Up to 2 points for $1 $199 Apply Now
Emirates Citibank Platinum Card Emirates Citibank Platinum Card

Complimentary International Travel Insurance. Redeem FREE gifts and rewards.

 20.99% p.a
 0.9% p.a
(for first 12 months)		 Up to 55 days up to 1.5 points = $1 spent.
Plus 25,000 bonus Skywards Miles 		FREE
(For the first year)		 Apply Now
St.George Vertigo MasterCard St.George Vertigo MasterCard

One of the lowest variable purchase rates around, just 13.24% p.a!

 13.24% p.a
 0.99% p.a
(for up to 6 months)		 Up to 55 days N/A $55 Apply Now
BankSA Vertigo MasterCard BankSA Vertigo MasterCard

Receive a complimentary additional card for your friends or family.

 13.24% p.a
 0.99% p.a
(for up to 6 months)		 Up to 55 days N/A $55 Apply Now
Bank of Melbourne Vertigo Credit Card Bank of Melbourne Vertigo Credit Card

One of the lowest variable purchase rates around plus low balance transfer rate.

 13.24% p.a
 0.99% p.a
(for first 6 months)		 Up to 55 days N/A $55 Apply Now
St.George Amplify Credit Card St.George Amplify Credit Card

For a limited time, enjoy an introductory balance transfer rate of 0.99% p.a. for up to six months.

 18.74% p.a
 0.99% p.a
(for first 6 months)		 Up to 55 days Up to $1 = 1 point $79 Apply Now
NAB Gold Credit Card NAB Gold Credit Card

Complimentary NAB Overseas Travel Insurance

 19.49% p.a
 1% p.a
(for first 12 months)		 up to 44 days N/A $90 Apply Now
NAB Low Fee Credit Card NAB Low Fee Credit Card

Complimentary Purchase Protection Insurance

 19.49% p.a
 1% p.a
(for first 6 months)		 up to 44 days N/A $30 Apply Now
BoQ Platinum Card BoQ Platinum Card

50% off the annual fee for the life of the card plus FREE insurance.

 20.74% p.a
 1.9% p.a
(for first 6 months)		 Up to 55 days $1 = 2 Q Rewards Points $99
(half the fee for life of card)		 Apply Now
Citibank Rewards Platinum Credit Card Citibank Rewards Platinum Credit Card

Extensive rewards and benefits plus Complementary International Travel Insurance, Transit Accident Insurance and Purchase Cover Insurance.

 20.99% p.a
 1.9% p.a
(for first 15 months)		 Up to 55 days Up to 3 points = $1 $199 Apply Now
Virgin Flyer Credit Card Virgin Flyer Credit Card

Exclusive offer - $50 annual fee for the first year. A rewards card that offers a great points earn and unique flight benefits like 2 for 1 flights.

 20.99% p.a
 1.9% p.a
(for first 12 months )		 Up to 44 days up to 1 point for every $1 $50
(for first year)		 Apply Now
Citibank Rewards Card - Signature Citibank Rewards Card - Signature

40,000 reward points when you first spend on your card plus generous rewards and benefits including complimentary travel insurance.

 20.99% p.a
 1.9% p.a
(for first 15 months)		 up to 55 days up to $1 = 4 points.
40,000 points on first purchase. 		$395 Apply Now
Virgin Money High Flyer Card Virgin Money High Flyer Card

Great card for regular flyers with complimentary travel insurance, personal consierge, complimentary flights and more.

 20.99% p.a
 1.99% p.a
(for first 6 months)		 up to 44 days 1.25 Velocity Points per $1 spent uncapped. $249 Apply Now
Virgin Money Low Rate Credit Card Virgin Money Low Rate Credit Card

Lower than average purchase rate. Also get balance transfer rate of just 2.9% for first 9 months.

 12.99% p.a
 2.9% p.a
(for first 9 months)		 up to 44 days N/A $59 Apply Now
Virgin No Annual Fee Credit Card Virgin No Annual Fee Credit Card

No annual fee ever and a great rate!

 18.99% p.a
 2.9% p.a
(for first 6 months)		 Up to 44 days N/A FREE Apply Now
ANZ First CreditCard ANZ First CreditCard

Visa Entertainment providing you with access to special events, exclusive merchandise packages and home entertainment products

 19.39% p.a
 2.9% p.a
(for the first 12 months)		 Up to 44 days N/A $30 Apply Now
St.George Platinum Visa St.George Platinum Visa

Personal Concierge Service, Overseas travel, transit accident, purchase cover, extended warranty insurance

 15.99% p.a
 3.99% p.a
(for the first 6 months)		 Up to 55 days N/A $89 Apply Now
BankSA Platinum Visa BankSA Platinum Visa

Personal Concierge Service, Overseas travel, transit accident, purchase cover, extended warranty insurance

 15.99% p.a
 3.99% p.a
(for the first 6 months)		 Up to 55 days Exclusive Platinum card program offered by Visa $89 Apply Now
Citibank Select Credit Card Citibank Select Credit Card

Receive 80,000 bonus reward points when you first spend on your card. Get generous rewards and unique privileges that others can only aspire to.

20.74% p.a
 4.9% p.a
(for first 6 months)		 Up to 55 days Up to 1 points per $1.
80,000 bonus points on signup 		$700 Apply Now
Bankwest Zero Platinum MasterCard Bankwest Zero Platinum MasterCard

No annual fee credit card with built in travel insurance.

 0% p.a
(for first 6 months)		 4.99% p.a
(for first 9 months)		 Up to 55 days N/A FREE Apply Now
Bankwest Zero Gold MasterCard Bankwest Zero Gold MasterCard

No annual fee credit card with built in travel insurance.

 0% p.a
(for first 6 months)		 4.99% p.a
(for first 9 months)		 Up to 55 days N/A FREE Apply Now
Bankwest Zero Classic MasterCard Bankwest Zero Classic MasterCard

Award winning no annual fee MasterCard

 0% p.a
(for first 6 months)		 4.99% p.a
(for first 6 months)		 Up to 55 days N/A FREE Apply Now
Bankwest Breeze Classic Credit Card Bankwest Breeze Classic Credit Card

Awarded “Australia’s cheapest credit card” by Money magazine 2012.

 0% p.a
(for first 6 months)		 4.99% p.a
(for first 9 months)		 Up to 55 days N/A $49 Apply Now
NAB Low Rate Credit Card NAB Low Rate Credit Card

NAB's longest intertest free period. Additional cardholder at no extra cost

 12.99% p.a
 4.99% p.a
(for first 6 months)		 Up to 55 days N/A $59 Apply Now
Bankwest More Platinum MasterCard Bankwest More Platinum MasterCard

20,000 Bonus Points on activation. Great rewards programme plus travel insurance and 24/7 concierge service.

 18.99% p.a
 4.99% p.a
(for first 9 months)		 Up to 55 days $1 = up to 2 points. 20,000 Bonus Points on activation $190 Apply Now
Bankwest More Gold Mastercard Bankwest More Gold Mastercard

5,000 Bonus Points on activation and earn 1.5 more reward points for every $1 spent on eligible purchases or earn 1 Qantas frequent flyer point per $2 spent on eligible purchases.

 19.24% p.a
 4.99% p.a
(for first 9 months)		 Up to 55 days $1 = up to 1.5 points. 5,000 Bonus Points on activation $120 Apply Now
Bankwest More Classic MasterCard Bankwest More Classic MasterCard

2,500 Bonus Points on activation and earn 1.5 more reward points for every $1 spent on eligible purchases or earn 1 Qantas frequent flyer point per $2 spent on eligible purchases.

 19.24% p.a
 4.99% p.a
(for first 9 months)		 Up to 55 days $1 = up to 1.5 points. 2,500 Bonus Points on activation $89 Apply Now
NAB Qantas Gold Card NAB Qantas Gold Card

Two cards on one account – The American Express card gives you maximum points earning and the MasterCard card gives you added worldwide acceptance.

 19.99% p.a
 4.99% p.a
(for first 6 months)		 up to 44 days Up to 2 points = $2 $145.50 Apply Now
NAB Qantas Platinum Credit Card NAB Qantas Platinum Credit Card

Earn unlimited Qantas Frequent Flyer points on everyday purchases plus concierge service and complimentary travel insurance.

 19.99% p.a
 4.99% p.a
(for first 6 months)		 up to 44 days up to 1.5 points = $1 $290 Apply Now
NAB Qantas Credit Card NAB Qantas Credit Card

Earn Qantas Frequent Flyer points on everyday purchases and redeem them for rewards including flights, accommodation and entertainment.

 19.99% p.a
 4.99% p.a
(for first 6 months)		 up to 44 days up to 1 point = $1 $65 Apply Now
Velocity NAB Gold Credit Card Velocity NAB Gold Credit Card

Seven complimentary insurances. Earn Velocity Points on everyday purchases and redeem them for rewards including flights, accommodation and entertainment.

 19.99% p.a
 4.99% p.a
(for first 6 months)		 up to 44 days Up to 2 points = $2 $150 Apply Now
Velocity NAB Standard Credit Card Velocity NAB Standard Credit Card

Earn Velocity Points on everyday purchases and redeem them for rewards including flights, accommodation and entertainment.

 19.99% p.a
 4.99% p.a
(for first 6 months)		 up to 44 days Up to 1.5 points per $2 spent $65 Apply Now
Citibank Clear Credit Card Citibank Clear Credit Card

Get exclusive discounts and benefits with Citibank World Privileges.

 15.99% p.a
 6.9% p.a
(for first 6 months)		 Up to 55 days N/A $65 Apply Now
Citibank Rewards Classic Credit Card Citibank Rewards Classic Credit Card

Earn up to 60,000 Citibank reward points per year with no expiry. Receive exclusive discounts on shopping and travel with Citibank World Privileges

 20.99% p.a
 6.9% p.a
(for first 6 months)		 up to 55 days $1 = 1 point $89 Apply Now

Balance Transfer Credit Cards Explained

As credit card issuers seek ways to attract new customers, many use offers such as balance transfer deals. A balance transfer deals means exactly that, credit card companies will allow new customers to transfer their existing debt which is carried on an existing card and incurring interest, onto a new card issued by the new company. Once the debt has been transferred card issuers in their effort to attract new customers offer an introductory interest rate for a period of time, which is either very low or even interest free. It is not unusual for the interest rate to be as low as one or two per cent or even zero during the introductory period, which can last anywhere from six to eighteen months.

Balance transfer credit cards are an excellent way for savvy borrowers to reduce their overall credit card debt, by allowing them to pay down the principal amount, whilst not incurring an interest rate charges.

Some care must be taken when assessing balance transfer deals however, because all of them come with fine print attached which more often than not include hidden charges. Some card companies for example charge borrowers a fee for transferring their balances, which is usually a percentage of the total balance that is transferred. This means transferring a balance of a few thousand dollars, can end up costing the borrower a few hundred dollars in charges, and may not make financial sense.

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