Long Term Balance Transfer Credit Cards

Move your credit card debt onto a new card at 0% interest for 12-24 months, giving you the longest time to pay it off.

0% p.a. for 24 months on balance transfers with no balance transfer fee. Reverts to variable cash advance rate.
Low ongoing variable purchase interest rate of 12.74% p.a.
$99 p.a. annual fee.

If you’ve wound up with a large outstanding credit card debt that you want to pay off, you have choice to make. Either you can do the shuffle from one 0% balance transfer offer to another every 6 – 12 months, or you can secure a low rate of interest for a much longer term. If you want to save the most amount of money possible and are prepared to dance between banks, then long term balance transfers are not for you. However, if you are the sort of person who likes to know how much money they have available and would rather pay off debt less aggressively over a longer period of time, then these long term balance transfer offers are probably what you need.

My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
balance transfer
purchase rate
annual fee
Money saved
St.George Vertigo Platinum Credit Card Exclusive Offer
Apply by 17 dec 18
0% p.a. for 24 months on balance transfers with no balance transfer fee. Reverts to variable cash advance rate.
Low ongoing variable purchase interest rate of 12.74% p.a.
$99 p.a. annual fee.
More info
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24 months
0% p.a.
then 19.49%
with a 0% fee
12.74% p.a.
ongoing
$99
ongoing
Citi Rewards Platinum Card Balance Transfer Offer
Apply by 31 mar 19
0% p.a. for 24 months on balance transfers.
One-off 1.5% balance transfer fee applies.
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
More info
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24 months
0% p.a.
then 21.74%
with a 1.5% fee
20.99% p.a.
ongoing
$49
1st year
then $149
Bank of Melbourne Vertigo Platinum Credit Card
Apply by 23 jan 19
3 reviews
0% p.a. for 26 months on balance transfers. Reverts to cash advance rate. (2% balance transfer fee applies).
No annual fee for the first year ($99 p.a. thereafter).
Complimentary overseas travel insurance and extended warranty on purchases.
More info
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26 months
0% p.a.
then 19.49%
with a 2% fee
12.74% p.a.
ongoing
$0
1st year
then $99
Westpac Low Rate Credit Card
Apply by 02 apr 19
43 reviews
0% p.a. for 24 months on balance transfers. (1% balance transfer fee applies). Reverts to variable cash advance rate.
No annual fee for the first year.
Up to 55 days on purchases
More info
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24 months
0% p.a.
then 19.49%
with a 1% fee
13.49% p.a.
ongoing
$0
1st year
then $59
0% p.a. for 24 months on balance transfers. (2% balance transfer fee applies). Reverts to cash advance rate.
24 hour, 7 day Platinum Concierge Service.
7 types of complimentary insurances including overseas travel insurance.
More info
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24 months
0% p.a.
then 21.74%
with a 2% fee
19.74% p.a.
ongoing
$90
ongoing
Bank of Melbourne Vertigo Visa
Apply by 23 jan 19
11 reviews
0% p.a. for 16 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 13.74% p.a.
More info
Add to comparison
16 months
0% p.a.
then 19.49%
with a 0% fee
13.74% p.a.
ongoing
$55
ongoing
Citi Rewards Platinum Card Points Offer
Apply by 31 mar 19
Earn up to 200,000 points. (Conditions Apply)
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
0% p.a. for 12 months on balance transfers with no balance transfer fee.
More info
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12 months
0% p.a.
then 21.74%
with a 0% fee
20.99% p.a.
ongoing
$49
1st year
then $149
Suncorp Clear Options Platinum Credit Card
Apply by 31 jan 19
4 reviews
ONLINE EXCLUSIVE
Receive up to 60,000 Bonus Reward Points when you spend $1,500 each month for six months from card approval.
0% p.a. on balance transfers for 18 months..
$49 annual fee for the first year.
More info
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18 months
0% p.a.
then 21.99%
with a 0% fee
20.74% p.a.
ongoing
$49
1st year
then $129
0% p.a. for the first 18 months on balance transfers with a 2% balance transfer fee on amounts transferred. Reverts to 21.49% p.a.
Up to 55 days interest free on purchases when you pay your account in full each month.
$0 annual fee for the first year (save $87).
More info
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18 months
0% p.a.
then 21.49%
with a 2% fee
19.74% p.a.
ongoing
$0
1st year
then $87
Citi Simplicity Card
Apply by 31 mar 19
No annual fee.
0% p.a. for 6 months on balance transfers.
Complimentary purchase cover insurance, transit accident insurance, extended warranty insurance and guaranteed pricing scheme.
More info
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6 months
0% p.a.
then 19.99%
with a 0% fee
19.99% p.a.
ongoing
$0
ongoing
Citi Rewards Signature Credit Card Points Offer
Apply by 31 mar 19
Earn up to 300,000 points. (Conditions Apply)
0% p.a. for 12 months on balance transfers with no balance transfer fee.
2 pts per $1 spent on selected purchases and receive a complimentary Priority Pass membership with two airport lounge visits per year.
More info
Add to comparison
12 months
0% p.a.
then 21.74%
with a 0% fee
20.99% p.a.
ongoing
$195
1st year
then $395
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0% p.a. for 26 months

One of the longest 0% balance transfer offers on this site
Citi Rewards Platinum Card Balance Transfer Offer
0% p.a. on balance transfers for 24 months which could help you get on top of things. A one-off 1.5% balance transfer fee applies.
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
Earn 1 pt per $1 spent on eligible Domestic Spend in Australia, up to $10,000 per statement period.
Earn 1 pt per $1 spent on eligible International Spend overseas (uncapped).
Good points earning rate for a non-Amex card.
Complimentary International Travel Insurance, Purchase Cover Insurance and more.
Enjoy a free bottle of award winning wine every time you dine at hundreds of participating restaurants with the Citibank Dining Program.

Promotion: Fees and charges apply. Terms and conditions apply and are available upon request. Credit Criteria apply. Please allow up to 15 days to process your Application. Subject to verification. New cards customers only.

Feel like your credit card’s on fire?

How Matt from Bondi finally cleared $10,000 of debt

Matt had been living large and loving life. Having built up $10,000 on his card Matt paid the minimum repayment of $200 towards lowering his balance. But with 20% p.a. interest card at such a slow pace it was going to take Matt over 8 years to pay it down to $0.00.

Something had to give, mainly, his old card. He compared his options and finally, Matt switched to a 0% interest balance transfer card.

Now he’ll avoid about $2,000 in interest repayments over the course of 24 months. In plain English: that’s $2,000 that can go to paying off Matt’s debt in full, not his credit card interest.

This case study is intended as a representative example.

Q&A's about Long Term Balance Transfer Credit Cards from customers

Q: What’s a long term balance transfer?

Broadly speaking, there are two attitudes towards debt that we all fit into. The first is that you are completely fed up with being in debt and are prepared to do and endure anything to get out of it, fast! If you are one of these people, then you’d probably be better off exploring our hand picked choice of 6 month balance transfer cards. The second attitude is to be less impulsive and more planned. You are the type of person who prefers a fixed rate home loan and doesn’t mind paying a little extra so that you have a fixed amount of money you can work around. If you would rather repay your debt steadily over time, then a long term offer is much more suited to you.

Q: How long is long?

Based on our database of cards, we’ve calculated the average balance transfer promotional interest rate to last for approximately 6 months. Long term offers tend to be in the region of 12 – 15 months.

Q: What is the main benefit of a longer term balance transfer interest rate?

As is the case with practically every balance transfer offer, it’s all about saving money. The longer a promotion lasts for and the lower the rate on offer, the more money you stand to save.

Q: So there’s a trade off between duration and the interest rate?

Yes, generally the longer the balance transfer offer period, the higher the interest rate tends to be. You’ve got to work out how much money you would save based on the size of your balance and the interest rate you’d get. However, your personal habits also come into play. Some people just prefer knowing that they have a low interest rate locked in for a long period of time, which means they can plan ahead to be debt free when the promotion ends.

Q: What criteria are the banks looking for?

If you want to apply for one of these cards, you have to meet the bank’s requirements. You’ll typically need to be a high earner with a proven record of consistent monthly repayments who wants to transfer a large balance.

Q: Should spending be avoided?

That really does depend on your personal financial situation. If you are transferring a relatively small balance in comparison to your income, which you can pay off quickly, then spending sensibly will probably not get in the way of you paying off your debt. The issue is when you transfer a large balance (probably built up after spending frivolously) and continue to spend. This behaviour will mean you probably won’t get rid of your debt as you will continue to add to it. As a general rule of thumb, only buy what you can afford to begin with and if you’ve applied for a balance transfer card in order to pay back your debt, then don’t use it to purchase things with.

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