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12 Month Credit Cards

12 Month Balance Transfer Credit Cards

Today's 12 Month Balance Transfer credit cards

  • Balance Transfer special rates for 12 months or more
  • Look for the lowest rates available
  • Lower your repayments with a transfer

Try the Advanced Search - to refine your options further

Card Rewards Points Annual Fee Interest Rate Balance Transfer  
Bank of Melbourne Vertigo Credit Card
Bank of Melbourne Vertigo Credit Card
0% on Balance Transfers for 14 Months
  • Ongoing Low Purchase Interest Rate
  • Free Additional Cardholder
  • MasterCard PayPass Tap & Go
  $55Current Offer 13.24% 0%for 14 months
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BankSA Vertigo MasterCard
BankSA Vertigo MasterCard
0% on Balance Transfers for 14 Months
  • Ongoing Low Purchase Interest Rate
  • Free Additional Cardholder
  • MasterCard PayPass Tap & Go
  $55Current Offer 13.24% 0%for 14 months
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Citibank Clear Platinum Credit Card
Citibank Clear Platinum Credit Card
0% Balance Transfers & Annual Fee Halved
  • Free bottle of wine when dining at partner restaurants
  • Range of Complimentary Insurances
  • Personal Concierge Service
  $99Save $50 12.99% 0%for 12 months
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Citibank Classic Rewards Credit Card
Citibank Classic Rewards Credit Card
Annual Fee Discount
  • Earn 1 Reward Point per $1 spent
  • Complimentary Purchase Cover Insurance & Guaranteed Pricing
  • Free Bottle of Wine when dining at partner restaurants
1 $89Save $45 20.99% 0.9%for 12 months
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Citibank Platinum Rewards Credit Card
Citibank Platinum Rewards Credit Card
0% Balance Transfers for 2 Years
  • Earn Up to 3 Rewards Points for every $1 spent
  • VISA Travel and Entertainment Deals
  • Range of Complimentary Insurances
up to3 $199Current Offer 20.99% 0%for 24 months
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NAB Low Rate Card
NAB Low Rate Card
0% Balance Transfers for 15 months
  • Ongoing Low Purchase Interest Rate
  • Free Additional Cardholder
  • 24/7 emergency travel assistance
  $59Current Offer 13.99% 0%for 15 months
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NAB flybuys Reward Card
NAB flybuys Reward Card
0% Balance Transfers for 15 months
  • Earn flybuys points for every $1 spent
  • Free Additional Cardholder
  • Seven Complimentary Insurances
1 $65Current Offer 19.49% 0%for 15 months
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NAB Low Fee Card
NAB Low Fee Card
0% Balance Transfers for 15 months
  • Choice of Visa or MasterCard
  • Free Addtional Cardholder
  • Purchase Protection Insurance
  $30Current Offer 19.49% 0%for 15 months
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NAB Premium Card
NAB Premium Card
0% Balance Transfers for 15 months
  • Seven Complimentary Insurances
  • Free Additional Cardholder
  • VIP Lost Card Cover for first 12 months
  $90Current Offer 19.49% 0%for 15 months
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NAB Velocity Rewards Card
NAB Velocity Rewards Card
0% Balance Transfers for 15 months
  • Receive 2 cards with one account - AMEX and Visa
  • Purchase Protection Insurance
  • Free Additional Cardholder
up to1 $65Current Offer 19.99% 0%for 15 months
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NAB Velocity Rewards Premium Card
NAB Velocity Rewards Premium Card
0% Balance Transfers for 15 months
  • Receive 2 cards with one account - AMEX and Visa
  • Seven Complimentary Insurances
  • Platinum Concierge Service
up to1.5 $150Current Offer 19.99% 0%for 15 months
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NAB Qantas Rewards Card
NAB Qantas Rewards Card
0% Balance Transfers for 15 months
  • Receive 2 cards with one account - AMEX and Visa
  • Earn Qantas Points for every $1 spent
  • Purchase Protection Insurance
up to1 $65Current Offer 19.99% 0%for 15 months
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NAB Qantas Rewards Premium Card
NAB Qantas Rewards Premium Card
0% Balance Transfers for 15 months
  • 2 cards for Maximum Qantas Points - AMEX and Visa
  • Seven Complimentary Insurances
  • NAB Platinum Concierge
up to1.5 $250Current Offer 19.99% 0%for 15 months
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St.George Vertigo Credit Card
St.George Vertigo Credit Card
  • Ongoing Low Purchase Interest Rate
  • Free Additional Cardholder
  • MasterCard PayPass Tap & Go
  $55 13.24% 0%for 14 months
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Virgin Money Virgin Australia Velocity High Flyer Credit Card
Virgin Money Virgin Australia Velocity High Flyer Credit Card
20,000 bonus Velocity Points
  • Earn Uncapped Velocity Points
  • Reduced Virgin Australia flights offer (conditions apply)
  • Range of Complimentary Insurances
1.25 $289Current Offer 20.74% 1.9%for 12 months
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Westpac Low Rate Visa Card
Westpac Low Rate Visa Card
0% Balance Transfers
  • Ongoing Low Purchase Interest Rate
  • Free Additional Cardholder
  $45Current Offer 13.49% 0%for 14 months
More details...

About 12 Month Balance Transfer Credit Cards

If you have built up debt on your existing credit card (or on several credit cards) then a 0% balance transfer offer on a new credit card can provide a method to reduce this immediate debt obligation.

Switching to a balance transfer card means that you're asking the new credit card provider to pay off your outstanding balance on your old card and thereby transferring your existing debt to them, usually at a much lower interest rate (often 0% for 6 months). If you're struggling with rising interest costs on an existing credit card debt, this exchange his should ultimately save you money. For the 'balance transfer' period you will have a lower monthly credit card repayment and your debt will not continue to grow at such a fast rate.

However, this transfer does not erase the debt and you'll still need to pay that debt off the new card, ideally before the end of the balance transfer period when the interest rate on the new card returns to the default amount.

Getting Started with 0% Balance Transfer Credit Cards

The obvious first step before you apply for a 0% balance transfer credit card is to compare your options and to explore the market. If a balance transfer is your key objective with a new card, look for balance transfer cards with not only with a low or zero interest rate but those that also have long balance transfer periods.

Balance transfer rates that last for the life of the card are very difficult to find. A low balance transfer interest rate will usually revert to a higher standard rate of interest after a set period.

Length of Transfer

An important decision when selecting cards is the size of the balance you want to transfer and the options between longer transfers at a low rate vs. shorter transfers at zero percent interest.

To help understand how these things impact on your decision process, take this example.

If you've got a large balance of $10,000 and you're looking at two balance transfer cards:

  • Credit Card A: 0% on Balance Transfers for 6 months
  • Credit Card B: 2.9% on Balance Transfers for 12 months

The key decision operator should be the speed at which you can pay back the $10,000 balance.

If you can pay down the $10,000 balance in 6 months, then Credit Card A will be a better option as you won't be charged any interest if you pay the balance off within 6 months.

However, if you think it will take you longer, say 10-12 months to pay down the $10,000 balance, then paying a low rate for that entire period will be advantageous when compared against 6 months of zero interest on Credit Card A then 6 months at an APR of 20%.

It's a pretty simple rule to use - the longest possible periods of lower interest rates you will provide the longest break in repayment pressure. Don't be over exuberant just because you see a 0% offer. A balance transfer can help you get your finances back on track and you need to be realistic with this decision.

Why Banks Offer Balance Transfers

The credit card market is relatively saturated so to attract new customers, credit card providers have had to use new marketing ideas. With a balance transfer, they hope to tempt you with the low balance transfer rate to switch providers. From a profit perspective, cynical observers would say that the provider secretly hopes that you don't manage to repay all your debt within this low interest rate period and that your debt will switch back to the higher standard variable rate at the end of the balance interest period.

As with every credit product, it is prudent to take your time when switching credit cards. Check out the small print in the terms and conditions to make sure there are no hidden catches or fees. Make sure there are no fees for transferring your balance and assess the other features of the balance transfer card to check that it is suited to your needs. Does the cheaper interest rate apply just to balance transfers or to new purchases too? Ideally it is best not to spend on your balance transfer card whilst you try to reduce your existing debt but if you do be careful as some banks will use your credit card repayments only to pay off your new debt and you will make no progress with reducing your transferred debt.

Transferring Your Balance

When applying for a balance transfer card, your balance transfer application has to happen at the same time as the credit card application. There will be a section on the credit card application form.

It will usually take around two weeks for your balance to transfer across to a new credit card and you can often transfer store card balances too.

Compare Credit Cards

View credit cards from the following credit card providers...

American Express Credit Cards BankSA Credit Cards Commonwealth Bank Credit Cards NAB Credit Cards Virgin Money Credit Cards
Aussie Credit Cards Citibank Credit Cards David Jones Credit Cards St.George Credit Cards Westpac Credit Cards
Bank of Melbourne Credit Cards Coles Credit Cards HSBC Credit Cards Suncorp Bank Credit Cards Woolworths Credit Cards

Disclaimer:

WhistleOut is not suggesting that you apply for a particular credit card provided by any of the following credit providers, nor are we trying to assist you to apply for a credit card from any of the following providers. We recommend that you seek professional advice before acting upon any information provided on this web site.

WhistleOut may receive a commission from some credit card providers.
 

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