A credit card balance transfer can work wonders for your wallet, but perhaps you haven’t heard of it or don’t quite know how it works.

A credit card balance transfer is when you move the existing debt from one credit card to another – typically to take advantage of lower interest rates or a special offer such as a nil interest period or reduced fees. Essentially, balance transfers can be an effective strategy to help individuals pay down their debt faster and more efficiently.


So why bother with balance transfers? There are a number of benefits!

1. Lower interest rates
One of the primary benefits of a credit card balance transfer is the potential for lower interest rates. If you're moving debt from a high-interest card to one with a lower rate, you'll save money on interest charges, allowing you to pay off the debt faster.


2. Simplified finances
Juggling multiple credit cards with varying due dates and interest rates can make your head spin. Balance transfers bring all those balances together to consolidate your debt onto one card. It's one payment, one card – simplicity at its finest.


3. Interest Savings with special offers
By moving to a card with a 0% interest-free period you won't accrue any interest on your transferred credit card debt for the length of the advertised offer. This can provide a valuable window of time to make progress in paying down your debt.

Take advantage of Auswide Bank’s Low Rate Credit Card 0% Balance Transfer for 12 months*. With a low annual fee and low rates on both purchases and cash advances so you can pay off your balance with zero worries.


Auswide Bank Ltd ABN 40 087 652 060, AFSL No. 239686, Australian credit licence 239686 is the credit issuer. Credit criteria, fees & charges and terms and conditions apply. This information provides general advice only. We do not provide advice based on any consideration of your personal objectives, needs or circumstances.
* The Balance Transfer offer can be withdrawn at anytime without notice. Balance transfers from other Auswide Bank credit cards or loans may not be accepted. Upon expiry of a Balance Transfer offer, any unpaid balance of the Balance Transfer reverts backs to the Purchase Rate.