No BT Fee Balance Transfer Credit Cards | Compare & Save More

No BT Fee Balance Transfer Credit Cards

Most banks charge a one-off 1-3% BT fee on balances transferred. Save more money and compare cards with no balance transfer fee.

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My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
balance transfer
BT fee
annual fee
Money saved
Virgin Money Low Rate Credit Card
Apply by 24 feb 20
4 reviews
Low interest rate of 11.99% p.a.
10% cashback (capped at $100 total) on spend in the first 3 months from card approval.
0% p.a. for 14 months on balance transfers (reverts to cash advance rate). No balance transfer fee.
More info
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14 months
0% p.a.
then 21.69%
with a 0% fee
0%
$49
ongoing
Emirates Citi World Mastercard
Apply by 31 dec 19
4 reviews
Earn up to 60,000 Skyward Miles (Spend criteria applies).
One complimentary chauffeur-drive service per year to and from the airport when flying Emirates.
Spend up to $3,000 per statement period, and then 0.5 Skywards Miles per A$1 spent up to $10,000 per statement period.
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9 months
0% p.a.
then 22.24%
with a 0% fee
0%
$149
1st year
then $299
0% p.a. for the first 15 months on balance transfers with no balance transfer fee.
Low 12.49% p.a. ongoing rate on purchases.
Low annual fee of $58 p.a.
More info
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15 months
0% p.a.
then 20.24%
with a 0% fee
0%
$58
ongoing
Virgin Australia Velocity Flyer Credit Card 0% p.a. Purchase Offer
Apply by 24 feb 20
2 reviews
0% p.a. for 14 months on purchases.
$129 Virgin Australia Gift Voucher each year.
Half annual fee in the first year (reverts to $129 p.a.).
More info
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6 months
0% p.a.
then 20.99%
with a 0% fee
0%
$64
1st year
then $129
HSBC Platinum Credit Card Balance Transfer Offer
Apply by 31 dec 19
0% p.a. on balances transferred for 22 months, with no balance transfer fee.
$129 p.a. annual fee which is refundable each year when you spend $6,000 on eligible purchases.*
Earn 2 pts per $1 spent on overseas purchases.
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22 months
0% p.a.
then 21.99%
with a 0% fee
0%
$129
ongoing
Pay no annual fee as long as you hold the card.
2.99% p.a. for 9 months on balances transferred.
Up to 55 days interest free on purchases.
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9 months
2.99% p.a.
then 17.99%
with a 0% fee
0%
$0
ongoing
No annual fee.
2.99% p.a. for 9 months on balances transferred.
No foreign transaction fees and complimentary international credit card travel insurance.
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9 months
2.99% p.a.
then 17.99%
with a 0% fee
0%
$0
ongoing
Citi Clear Platinum Credit Card
Apply by 31 mar 20
16 reviews
Transfer your other banks’ credit card balances and enjoy 0% p.a. for 9 months (reverts to cash advance rate) with no balance transfer fee.
Take advantage of the promotional purchase rate of 0% p.a. for 9 months.
Get additional savings with its $0 annual fee for the first year offer ($99 p.a. thereafter).
More info
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9 months
0% p.a.
then 22.24%
with a 0% fee
0%
$0
1st year
then $99
Qantas Premier Everyday Credit Card
Apply by 26 feb 20
Receive up to 25,000 bonus Qantas Points when you spend at least $1,000 each month for the first 5 months.
Reduced annual fee of $29 p.a. in the first year ($49 p.a. thereafter).
0% p.a. for 12 months on balance transfers.
More info
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12 months
0% p.a.
then 21.99%
with a 0% fee
0%
$29
1st year
then $49
Qantas Premier Platinum Credit Card
Apply by 26 feb 20
Receive up to 120,000 bonus Qantas Points when you spend at least $1,500 each month for the first 6 months.
Reduced annual fee of $199 p.a. in the first year ($299 p.a. thereafter).
0% p.a. for 18 months on balance transfers.
More info
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18 months
0% p.a.
then 21.99%
with a 0% fee
0%
$199
1st year
then $299
Bank of Melbourne Vertigo Visa
Apply by 12 feb 20
10 reviews
0% p.a. for 18 months on balance transfers with no balance transfer fee. Reverts to cash advance rate.
$55 p.a. annual fee.
Low ongoing variable purchase interest rate of 13.99% p.a.
More info
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18 months
0% p.a.
then 21.49%
with a 0% fee
0%
$55
ongoing
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Q&As about No BT Fee Balance Transfer Credit Cards from customers

What is a balance transfer fee?

Balance transfer fees are now the norm for credit cards in Australia. A balance transfer fee is a one-off fee charged to you by your new credit card provider to establish a credit plan for the amount you transfer onto your new credit card from your old card. If there is a balance transfer fee charged, our comparison tables will show it and the savings calculation will factor it in. Generally, a balance transfer fee is charged straight away and will appear on your first credit card statement.

Why is it that some card issuers charge a balance transfer fee and others don’t?

When you apply to transfer a balance, you are effectively applying for a loan, in addition to any credit that may be extended to you for each month’s purchases. The card provider needs to establish a credit plan, check your credit history, pay off an amount on your old card and charge it to your new one. This all takes time and costs money, and balance transfer fees are simply an attempt to recover these costs. Card issuers who do not charge a transfer fee are sacrificing profit in order to make the offer appear more tempting, but there may be other ways in which they try to recover their costs or make more profit. That’s why it’s important to compare all features of the offer.

Is it worth paying the balance transfer fee?

Many banks charge a one-off handling fee for doing a balance transfer. This balance transfer fee typically ranges between 1% to 3% of the amount you transfer and it is charged upfront when you are approved for the new card. If you transfer $5,000 to a card with a 1% BT fee then you’ll be charged $50 for doing the balance transfer. This is in addition to the annual fee, which is a separate charge. To make it easy to see if it is worth paying the balance transfer fee, Credit Card Compare’s comparison tables have included the balance transfer fee (for cards that charge the fee) in the calculation of your potential savings.

You can see the calculations in the ‘Money saved’ column on our ‘Balance Transfer Credit Cards’ pages, where it’s also possible to sort cards in order of the net amount saved.

Do cards with no balance transfer fee always deliver the biggest savings?

Not necessarily. In most cases the interest savings will far outweigh the transfer fee. So with a long-term balance transfer, of 12 months or more, a transfer fee is a much smaller proportion of the interest amount saved.

Consider a situation where a $5,000 debt is being transferred from a card where it was incurring interest at 20% p.a. A 2% minimum monthly repayment is required by the new card, and both the old and new card have the same annual fee.

  • Case 1: Introductory offer is 6 months at 0%, with no balance transfer fee. Total interest saved = $495.
  • Case 2: Introductory offer is 12 months at 0%, with a 2% balance transfer fee. Interest saved = $980. Transfer fee = $100. Net saving = $880. The transfer fee is equal to around 10% of the amount saved in interest.
  • Case 3: Introductory offer is 24 months at 0%, with a 2% balance transfer fee. Interest saved = $1,918. Transfer fee = $100. Net saving = $1,818. The transfer fee is equal to around 5.5% of the amount saved in interest.

Therefore, the shorter the zero-interest period is, the more important it is to avoid a balance transfer fee. Conversely, the longer the zero-interest period is, the less significant the transfer fee becomes. Ideally of course, look to maximise your savings by trying to find a long-term offer at 0% with no balance transfer fee.

What other card fees and charges should I consider when comparing balance transfer offers?

Although you may be saving money by not paying a balance transfer fee, before you make your decision you should also look at the following fees and charges which you may incur on your new card:

  • Annual fee
  • Purchases interest rate
  • Cash advance interest rate
  • Cash advance transaction fee
  • Revert interest rate (interest rate charged on any remaining amount of the transferred balance, after the introductory offer expires)
  • Foreign transaction fee
  • Late payment fee
  • Emergency card replacement fee

More comparisons like this one

Balance Transfer Credit Cards
0% Balance Transfers & 0% Purchases Credit Cards
Balance Transfer Credit Cards for Large Credit Limits
Long Term Balance Transfer Credit Cards

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