CHEAPEST BALANCE TRANSFER CREDIT CARDS

GOLD WINNERS BANK ST.GEORGE, BANKSA, BANK OF MELBOURNE NON-BANK NEXUS MUTUAL Even with a generous interest-free period, it pays to crunch the numbers

Balance transfer deals are a chance to get ahead with card debt and save on interest. Just be sure to knuckle down and clear the slate during the interest-free period. Cash advance rates often apply to any remaining amount transferred, potentially making it even harder to wipe out whatever remains of the original debt.

St.George’s Vertigo Platinum Visa offers a whopping 26 months to pay off a transferred balance, and an automatic repayment plan is available to help you make the most of the zero-interest period. But if 26 months proves insufficient, you will be hit with a high cash advance rate of 19.49%. This card has a purchase rate of 12.74%

Nexus Mutual’s Low Rate Platinum Card (Visa) offers a shorter zero-rate period but the pay-off is a revert rate of just 6.64%. This highlights the need to crunch some numbers of your own to work out how soon you can realistically pay off the sum transferred. Do note that this card has a minimum credit limit of $6000.