When A Low Fee Balance Transfer Card Is Right
Low fee balance transfer cards can often be the better choice for consumers seeking to transfer their existing credit card balance to a new and better card. In the instance you won’t see yourself be able to repay your debt in full during the grace period of zero percent credit cards you will be much better off choosing a low fee balance transfer card instead.
How low do low fee balance transfer cards go?
The answer is very low! Since we already found the zero percent cards to be the wrong choice for your current situation we have to find the next best deal to help you repay your debt. The good news is that there are several low fee balance transfer cards that offer you a 12 month term to manage your finances and take back control.
The following low fee balance transfer cards all offer you a 12 months period for a very low 2.90% p.a. balance transfer rate:
Each of these cards will revert to a higher than average purchase rate once the 12 months have matured meaning that you absolutely must repay your debt within that period if you don’t want to go on the debt carousel.
These cards are really good for people who need longer than six months for debt consolidation but you must understand the terms of each card before you go ahead with the transfer process. Each card comes with a different annual card fee which needs to be considered when calculating your repayment.
You can also benefit from rewards point offers and other complimentary features giving you better value for your money.
What to avoid with low fee balance transfer cards:
You should be aware that using the cash advance feature and the 55 days interest free feature on these low fee cards is not a good idea. The reason being is that the interest charged will be very high, higher than average actually and instead of paying off your debt you will end up acquiring more debt in the process.
I advise you to check the terms and conditions of each low fee balance transfer card with the issuer in detail before you make the wrong move. Doing so could cost you dearly!
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Compare Australia's Best Zero Credit Card Offers
St.George Vertigo MasterCard
The St.George Vertigo MasterCard is the ideal low rate shopping card. Save with an amazing introductory offer on both purchases and balance transfers for the first 6 months. Also enjoy instant discounts and added extras with the St.George Instant Benefits Program
- $55 annual fee
- 12.49% p.a. on purchases
- 2.99% p.a. for 6 months on balance transfers
- Cash Advance Rate of 21.24%
- Comes with free secure online shopping service
Click here to read the St George Vertigo terms and conditions
Compared below are a handful of the best credit cards with a 0% balance transfer offer or a $0 annual fee. Enjoy the best rates and fees on your credit cards - zero!
| Credit Card | Card Details | Interest Rate (p.a.) | Cash Advance Rate fee (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Interest free days (up to) | |
|---|---|---|---|---|---|---|---|
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Best Zero Percent Credit Card ANZ offer one of the lowest rates on the market at 13.24% p.a, along with ANZ Falcon security and a 0% p.a.balance transfer offer. |
13.24% | 21.49% | 0% p.a. for 6 months | $58 | 55 |
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Take advantage of a card with the prestige and status of Platinum but with a low interest rate of 11.49% p.a. Enjoy Citibank World Privileges, offering entertainment & retail discounts worldwide. |
11.49% | 21.24% | 0% p.a. for 6 months | $49 first year (Save $50) | 55 |
|
|
Featuring 1.9% p.a. for 12 months on balance transfers a low ongoing 12.24% on purchases and a $39 annual fee. |
12.24% | 17.99% | 1.9% p.a. for 12 months | $39 | 55 | 
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No annual fee ever. Up to three complimentary cardholders for free. 5.99% p.a. for 12 months on balance transfers Click here to see this card at BankWest.com.au |
16.99% | 16.99% | 5.99% p.a. for 12 months | $0 | 55 |
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Best Zero Annual Fee Card Enjoy a generous rewards program and up to 44 days interest free on purchases at no annual fee, ever. You have the flexibility to opt in for a $80 annual fee if you wish to double your reward points. |
20.49% | 20% | - | $0 | 44 |
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The Vertigo MasterCard is one of Australia's most competitive low rate cards. Comes with St George Instant Benefits which offers discounts on selected retail and entertainment. |
12.49% | 21.24% | 2.99% p.a. for 6 months | $55 | 55 |
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