Low Interest Balance Transfer Credit Cards

Low Interest Balance Transfer credit cards charge a low interest rate of 6% or less on balance transfered to the credit card. Low Interest Balance Transfer Credit Cards can be suitable if you have a significant balance on your credit card.

Compare and find the right low interest balance transfer credit cards below.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Be rewarded with 400 bonus Airpoints Dollars™ when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Amex Card Members only. Offer ends 26th May 2025.

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Updated: 20 May, 2025

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Low interest balance transfer credit cards

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
ASB Visa Business Rewards Credit Card Gold Award (Business)	The ASB Visa Business Rewards Credit Card is a business rewards credit card that allows you to earn either True Rewards or Everyday Rewards. For True Rewards, you get 1 True Rewards Dollar for every $100 you spend with your ASB Visa Business Rewards Credit Card, and for Everyday Rewards, you earn 1 Everyday Rewards point for every $1 you spend on your card.	19.95%	0.00%	22.95%	$70.00	50 days More Info » Apply Now »
TSB Low Rate Mastercard Credit Card Gold Award (Personal)	The TSB Low Rate Mastercard has a very low interest rate of 11.95% p.a. for purchases and cash advances.	11.95%	0% for 6 months	11.95%	$20.00	55 days More Info » Apply Now »
Westpac Hotpoints Platinum MasterCard Credit Card Gold Award (Personal)	Earn 1.5 hotpoints for every $1 spent on your card up to (and including) $7,000 then 1 hotpoint for every $1 spent on your card each month. Reward Points Cash Equivalent: $100 spend earns $0.83 cash equivalent (for up to $7,000 spend)^. $100 spend earns $0.55 cash equivalent (for over $7,000 spend)^.	20.95% p.a.	5.95% for life of balance transferred	22.95% p.a.	$70.00	55 days More Info » Apply Now »
ASB Visa Light Credit Card Gold Award (Personal)	The ASB Visa Light credit card has no annual fee, a low purchase rate and 0% balance transfer for 6 months plus 0% p.a. for 6 months when you spend $1,000 or more on any single eligible purchase	13.5% p.a.	0% p.a. for 6 months	22.95% p.a.	$0.00	55 days More Info » Apply Now »
ASB Visa Rewards Credit Card Gold Award (Personal)	Get one True Rewards Dollar for every $150 you spend on your ASB Visa Rewards. One True Rewards Dollar equals one New Zealand dollar. Reward Points Cash Equivalent: $100 spend earns $0.66 cash equivalent^.	20.95%	0.00% for 6 months	22.95%	$40.00	55 days More Info » Apply Now »
Co-operative Bank Fair Rate Credit Card Gold Award (Personal)	The Fair Rate Credit Card has a very low purchase rate of 12.95% p.a. plus a balance transfer rate of 0% p.a. for 6 month. This might be a good card if you are looking for a credit card with a low interest rate and/or a card with a 0% p.a. balance transfer offer.	12.95% p.a.	0% p.a. for 6 months	12.95% p.a.	$20.00	55 days More Info » Apply Now »
ASB Visa Platinum Rewards Credit Card Gold Award (Personal)	Choose between True Rewards or Everyday Rewards points. Earn 1 True Rewards Dollar for every $100 you spend or 1 Everyday Rewards point for every $1 spent on your ASB card. This card also comes with travel insurance for you, your spouse and your dependent children. Reward Points Cash Equivalent: $100 spend earns $1.00 cash equivalent in True Rewards points^.	19.95%	0% p.a. for 6 months	22.95%	$80.00	55 days More Info » Apply Now »
ANZ Low Rate Visa Card Gold Award (Personal)	Features a low interest rate of 13.90% and a balance transfer rate of 1.99% for 24 months	13.90%	1.99% p.a. for 24 months	20.95%	$0.00	55 days More Info » Apply Now »
Kiwibank Zero Visa Credit Card Platinum Award (Personal)	A low rate credit card with no annual fee and a 1.99% balance transfer for 6 months	12.90% p.a.	1.99% p.a. for 6 months	12.90% p.a.	$0.00	55 days More Info » Apply Now »
Kiwibank Air New Zealand Airpoints Low Fee Visa Credit Card Gold Award (Personal)	Earn 1 Airpoints Dollar™ for every $200 spent on eligible purchases. Reward Points Cash Equivalent: $100 spend earns $0.50 cash equivalent^.	16.90% p.a.	1.99% p.a. for 6 months	16.90% p.a.	$50.00	44 days More Info » Apply Now »
Kiwibank Air New Zealand Airpoints Platinum Visa Credit Card Gold Award (Personal)	Earn 1 Airpoints Dollar™ for every $115 spent on eligible purchases. This card also comes with complimentary overseas travel insurance for you and your immediate family travelling with you for up to 40 days. Reward Points Cash Equivalent: $100 spend earns $0.64 cash equivalent^.	20.95%	1.99% p.a. for 6 months	20.95%	$180.00	44 days More Info » Apply Now »
Westpac Fee Free MasterCard Credit Card Platinum Award (Personal)	Comes with a low rate of just 12.90% p.a. plus 5.95% p.a. for the life of the balance transferred to this card. it also comes with no annual fee, no cash advance fee and no foreign transaction fees.	12.90% p.a.	5.95% for life of balance transferred	19.95% p.a.	$0.00	55 days More Info » Apply Now »
Westpac Hotpoints MasterCard Credit Card Gold Award (Personal)	Earn 1 hotpoint for every $1 spent on your card up to (and including) $3,500 then 0.5 hotpoints for every $1 spent on your card each month. Reward Points Cash Equivalent: $100 spend earns $0.55 cash equivalent (for up to $3,500 spend)^. $100 spend earns $0.27 cash equivalent (for over $3,500 spend)^.	20.95% p.a.	5.95% for life of balance transferred	22.95% p.a.	$40.00	55 days More Info » Apply Now »
Westpac Hotpoints World MasterCard Credit Card Gold Award (Personal)	Earn 2 hotpoints for every $1 spent on your card up to (and including) $15,000 then 1 hotpoint for every $1 spent on your card each month. Plus Priority Pass lounge access to over 1,500 airport lounges around the world and overseas travel insurance for up to 120 days per round trip. Reward Points Cash Equivalent: $100 spend earns $1.11 cash equivalent (for up to $15,000 spend)^. $100 spend earns $0.55 cash equivalent (for over $15,000 spend)^.	16.95% p.a.	5.95% for life of balance transferred	22.95% p.a.	$285.00	44 days More Info » Apply Now »
Westpac Airpoints MasterCard Credit Card 3.5/5 Stars (Personal)	Earn 1 Airpoints Dollar for every $150 spent on eligible purchases on your card up to (and including) $3,500 then 1 Airpoints Dollar for every $300 spent on your card each month. plus 5.95% p.a. for the life of the balance transferred to this card. Reward Points Cash Equivalent: $100 spend earns $0.66 cash equivalent (for up to $3,500 spend)^. $100 spend earns $0.33 cash equivalent (for over $3,500 spend)^.	20.95% p.a.	5.95% for life of balance transferred	22.95% p.a.	$70.00	55 days More Info » Apply Now »
Westpac Airpoints Platinum MasterCard Credit Card Gold Award (Personal)	Earn 1 Airpoints Dollar for every $110 spent on your card up to (and including) $7,000 then 1 Airpoints Dollar for every $220 spent on your card each month plus get 5.95% for the life of the balance transferred. Reward Points Cash Equivalent: $100 spend earns $0.90 cash equivalent (for up to $7,000 spend)^. $100 spend earns $0.45 cash equivalent (for over $7,000 spend)^.	20.95% p.a.	5.95% for life of balance transferred	22.95% p.a.	$125.00	44 days More Info » Apply Now »
Westpac Airpoints World MasterCard Credit Card Gold Award (Personal)	This card is a touch of everything including Airpoints, a relatively low interest rate of 16.95% and a balance transfer offer of 5.95% for life of balance transferred. It also comes with Priority Pass lounge access to over 1,500 airport lounges around the world. Reward Points Cash Equivalent: $100 spend earns $1.05 cash equivalent (for up to $15,000 spend)^. $100 spend earns $0.52 cash equivalent (for over $15,000 spend)^.	16.95%	5.95% for life of balance transferred	22.95%	$310.00	44 days More Info » Apply Now »
Westpac BusinessPLUS Mastercard with Hotpoints Gold Award (Business)	The Westpac BusinessPLUS Mastercard with Hotpoints credit card is a business rewards credit card that allows you to earn 1.25 hotpoints® for every $1 of business spend but also comes with other benefits such as Up to 35 days of overseas travel insurance and purchase protection of up to 90 days, and extended warranty on purchases.	20.95%	5.95%	22.95%	$100.00	55 days More Info » Apply Now »

^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases you might earn less or more depending on how you redeem your ponts and some reward points cannot be redeemed for cash directly. Click on the card to find out how the estimate was calculated.

The Amex Airpoints Platinum Card is the FASTEST Air NZ Airpoints Dollar^TM earning Platinum credit card. Every $70 spend earns you 1 Airpoints Dollar. Every $70 spend earns you 1 Airpoints Dollar. This card also includes complimentary Travel Insurance, VIP Lounge access and more. CURRENT OFFER: Be rewarded with 400 bonus Airpoints Dollars™ when you apply, are approved and spend $1,500 on your new Card within the first 3 months. New Amex Card Members only. Offer ends 26th May 2025.

More Info »

*Terms and conditions apply

Understanding Low Interest Balance Transfer Credit Cards

How Does a Balance Transfer Work?

When you opt for a balance transfer, you are essentially moving your existing credit card debt to a new card that offers a lower interest rate. Here are the steps involved:

1. Choose a Card: Select a card that offers a low or 0% interest rate on balance transferred.
2. Apply for the Card: Complete the application process for the new card.
3. Transfer the Balance: Once approved, request the balance transfer from your old card to the new one.
4. Pay Off the Debt: Make regular payments to pay off the transferred balance within the promotional period to avoid higher interest rates later.

Benefits of Low Interest Balance Transfer Credit Cards

Opting for Low Interest and Balance Transfer Credit Cards can offer several advantages:

• Cost Savings: Save on interest payments, especially if you secure a 0% balance transfer and 0% interest offer.
• Debt Consolidation: Combine multiple debts into a single payment, simplifying your financial management.
• Lower Monthly Payments: Reduced interest rates can lead to lower monthly payments, freeing up cash for other expenses.
• Improved Credit Score: Successfully managing and paying off your balance transfer can positively impact your credit score.

Common Pitfalls to Avoid with Balance Transfer Credit Cards

Hidden Fees and Charges

While balance transfer credit cards can be beneficial, they often come with hidden fees and charges that can negate the advantages. Common fees include balance transfer fees, which typically range from 3% to 5% of the transferred amount. Additionally, some cards may have annual fees or other charges that can add up over time. It is crucial to read the fine print and understand all associated costs before proceeding with a balance transfer.

Impact on Credit Score

Transferring a balance can impact your credit score in several ways. Firstly, applying for a new credit card results in a hard inquiry on your credit report, which can temporarily lower your score. Secondly, opening a new account can affect your average account age, another factor in your credit score. Lastly, if you close the old account after transferring the balance, it can reduce your overall available credit, potentially increasing your credit utilisation ratio. To mitigate these effects, consider keeping the old account open and avoid applying for multiple new credit cards in a short period.

Mismanagement of Promotional Period

The promotional period of a balance transfer credit card is a key feature, often offering low or 0% interest rates for a limited time. However, mismanaging this period can lead to financial pitfalls. Failing to pay off the balance before the promotional period ends can result in high-interest rates on the remaining balance. Additionally, missing a payment can void the promotional rate, causing the interest rate to revert to the standard APR. To avoid these issues, create a repayment plan that ensures the balance is paid off within the promotional period and set up automatic payments to avoid missing due dates.

Maximising the Benefits of Low Interest Balance Transfer Credit Cards

Paying Off Debt Faster

To maximise the benefits of low interest balance transfer credit cards, focus on paying off your debt as quickly as possible. The lower interest rate allows more of your payment to go towards the principal balance rather than interest. Here are some strategies to help you pay off debt faster:

• Create a Repayment Plan: Develop a realistic repayment plan that outlines how much you need to pay each month to clear your debt within the promotional period.
• Prioritise Payments: Make your balance transfer card payments a priority in your budget to ensure you stay on track.
• Avoid New Purchases: Refrain from making new purchases on the balance transfer card to prevent increasing your debt.

Avoiding New Debt

One of the key benefits of a low interest balance transfer credit card is the opportunity to reduce existing debt. However, it is crucial to avoid accumulating new debt during this period. Consider the following tips:

• Use a Budget: Stick to a strict budget to manage your expenses and avoid unnecessary purchases.
• Limit Credit Card Use: Use your credit card only for essential expenses and avoid impulse buying.
• Monitor Spending: Regularly review your spending habits to ensure you are not falling back into old patterns.

Utilising Financial Tools and Resources

Take advantage of various financial tools and resources to help you manage your balance transfer credit card effectively. These tools can provide valuable insights and assist in staying on top of your finances:

• Debt Repayment Calculators: Use online calculators to determine how long it will take to pay off your debt and how much you can save on interest.
• Budgeting Apps: Utilise budgeting apps to track your spending and ensure you are adhering to your repayment plan.
• Financial Advice: Seek advice from financial experts or credit counsellors to develop a comprehensive debt management strategy.

Frequently Asked Questions About Low Interest Balance Transfer Credit Cards

Eligibility Criteria

To be eligible for a low interest balance transfer credit card, you typically need to meet certain criteria set by the issuing bank. These may include:

• A good to excellent credit score.
• A stable income source.
• Not being an existing customer of the bank offering the balance transfer deal.

Typical Interest Rates

Low interest balance transfer credit cards often come with an introductory interest rate that can be as low as 0%. This promotional rate usually lasts for a period ranging from six to 18 months. After the promotional period ends, the interest rate will revert to the standard rate, which varies depending on the card issuer.

Duration of Promotional Periods

The duration of the promotional period for low interest balance transfer credit cards can vary. Most commonly, these periods last between six to 18 months. It is crucial to pay off your transferred balance within this timeframe to maximise your savings and avoid higher interest rates once the promotional period ends.

Frequently Asked Questions About Low Interest Balance Transfer Credit Cards

What is a balance transfer credit card?

A balance transfer credit card allows you to transfer an existing balance from one credit card to another, typically at a lower introductory APR. This can help you save on interest payments.

How does a balance transfer work?

A balance transfer involves moving your credit card debt to a new card with a lower promotional interest rate. You then pay off the debt before the end of the low-rate period to maximise savings.

What are the benefits of low-interest balance transfer credit cards?

These cards can help you save money on interest, pay off debt faster, and simplify your finances by consolidating multiple debts into one payment.

Are there any fees associated with balance transfers?

Yes, many balance transfers come with fees, typically ranging from 3% to 5% of the transfer amount. Some credit card companies may waive these fees during promotional periods.

How does a balance transfer impact my credit score?

A balance transfer can temporarily lower your credit score due to the hard inquiry on your credit report and the new account opening. However, if managed well, it can improve your score in the long run by reducing your overall debt.

What should I consider when choosing a balance transfer credit card?

Look for a card with a low or 0% introductory APR, low fees, and a long promotional period. Additionally, read the fine print to understand any conditions or restrictions.