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6 Month Credit Cards

6 Month Balance Transfer Credit Cards

Today's 6 Month Balance Transfer credit cards

  • Balance Transfer special rates for 6 months or more
  • Look for the lowest rates available
  • Lower your repayments with a transfer

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Card Rewards Points Annual Fee Interest Rate Balance Transfer  
American Express Low Rate Credit Card
American Express Low Rate Credit Card
New
  • Ongoing Low Purchase Interest Rate
  • Free Additional Cardholders
  • Refund/ Purchase Protection
  $65 11.99% 0.99%for 6 months
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American Express Platinum Rewards Credit Card
American Express Platinum Rewards Credit Card
No Annual Fee First Year
  • No Annual Fee First Year
  • Complimentary Membership Rewards Program
  • Refund/ Purchase Protection
up to2 $80Save $80 20.74% 0.99%for 6 months
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American Express Velocity Escape Card
American Express Velocity Escape Card
7,500 Bonus Velocity Reward Points
  • No Annual Fee
  • Earn Uncapped Velocity Points for every $1 spent
  • Free Additional Cardholders
up to2 $0Current Offer 20.74% 0.99%for 6 months
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American Express Velocity Gold Card
American Express Velocity Gold Card
15,000 Bonus Points + Pay Half Annual Fee
  • Earn Uncapped Velocity Points for every $1 spent
  • Free Additional Cardholders
  • Complimentary Insurances
up to2 $199Save $100 20.74% 0.99%for 6 months
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American Express Velocity Platinum Card
American Express Velocity Platinum Card
50,000 Bonus Velocity Reward Points
  • Earn Velocity Points for every $1 spent
  • Free Additional Cardholders
  • Complimentary Virgin Australia Domestic Flight Every Year
up to3 $349Current Offer 20.74% 0.99%for 6 months
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American Express Platinum Edge Credit Card
American Express Platinum Edge Credit Card
10,000 Bonus points
  • Complimentary Return Domestic Flight every year
  • Range of Complimentary Insurances
  • Earn up to 3 Membership Reward Points per dollar
up to3 $195Current Offer 20.74% 0.99%for 6 months
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American Express Platinum Reserve Credit Card
American Express Platinum Reserve Credit Card
30,000 Bonus Membership Rewards Points Offer
  • Earn Membership Reward Points as you spend
  • Complimentary Insurances
  • Free Economy Return flight or 1 Night Hotel Stay per year
up to3 $395Current Offer 20.74% 0.99%for 6 months
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American Express Qantas American Express Discovery Credit Card
American Express Qantas American Express Discovery Credit Card
7,500 Bonus Qantas Points
  • Earn Uncapped Qantas Points for every $1 spent
  • No Annual Fee
  • Free Additional Cardholder
1 $0Current Offer 20.74% 0.99%for 6 months
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American Express Qantas American Express Premium Credit Card
American Express Qantas American Express Premium Credit Card
Reduced Annual Fee + 30,000 Bonus Points
  • Earn Qantas Points for every $1 spent
  • Complimentary Qantas Club Lounge Invitations
  • Domestic & Overseas Travel Insurance Included
up to2 $249Save $100 20.74% 0.99%for 6 months
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American Express Qantas American Express Ultimate Credit Card
American Express Qantas American Express Ultimate Credit Card
Up to 50,000 Bonus Qantas points + Reduced Annual Fee
  • Earn Qantas Points for every $1 spent
  • Complimentary Annual Qantas Domestic Return Economy Flight
  • Range of Included Travel Insurances
up to3 $450Save $200 20.74% 0.99%for 6 months
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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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Bank of Melbourne Amplify Credit Card
Bank of Melbourne Amplify Credit Card
  • Choose Amplify Rewards or Amplify Qantas
  • Complimentary Qantas Frequent Flyer Membership
  • Free Addtitional Cardholder
1 $79 18.74% 0.99%for 6 months
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Bank of Melbourne Platinum Visa Credit Card
Bank of Melbourne Platinum Visa Credit Card
  • Range of Complimentary Insurance Covers
  • 3 Free Additional Cardholders
  • Personal Concierge Service
  $89 15.99% 3.99%for 6 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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BankSA Amplify Credit Card
BankSA Amplify Credit Card
  • Choose Amplify Rewards or Amplify Qantas
  • Complimentary Qantas Frequent Flyer Membership
  • Free Addtitional Cardholder
1 $79 18.74% 0.99%for 6 months
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BankSA Platinum Visa Card
BankSA Platinum Visa Card
  • Range of Complimentary Insurance Covers
  • 3 Free Additional Cardholders
  • Personal Concierge Service
  $89 15.99% 3.99%for 6 months
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Citibank Select Credit Card
Citibank Select Credit Card
4.9% Balance Transfers & 60,000 Bonus Reward Points
  • Citibank Rewards or Citibank Qantas Rewards Program
  • Range of travel rewards
  • Free Additional Cardholders
2 $700Current Offer 20.74% 4.9%for 9 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 Emirates Citibank Platinum Credit Card
Citibank Emirates Citibank Platinum Credit Card
3.9% Balance Transfers & 15,000 Bonus Skywards Miles
  • Earn Skywards Miles
  • Range of Complimentary Emirates Benefits
  • Redeem Skywards Miles on Emirates flights & partner airlines
1.5 $229Current Offer 20.99% 3.9%for 9 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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About 6 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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