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Balance transfer limit: How much can I transfer with a balance transfer card?

Understand how balance transfer limits work so you can find the right credit card to consolidate your debts.

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A balance transfer can be a useful tool to repay existing debt faster and cheaper with a 0% promotional period. However, the right balance transfer card for you may depend on the size of the debt you're transferring. This is because many banks only allow you to transfer up to a percentage of your approved credit limit. You can use this guide to understand how balance transfer limits work and to compare 0% balance transfer offers so you can find the right card for you.

Compare balance transfer credit cards

Updated April 4th, 2020
$
% p.a.
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount saved
HSBC Platinum Credit Card - Balance Transfer Offer
0% p.a. for 22 months
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Coles No Annual Fee Mastercard
0% p.a. for 18 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.
ANZ Low Rate
0% p.a. for 22 months with 1.5% balance transfer fee
12.49% p.a.
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.
Coles Low Rate Mastercard
0% p.a. for 6 months
12.99% p.a.
$58 p.a.
Save with a low purchase interest rate, earn flybuys points as you spend and get up to 55 days interest-free.
Bendigo Bank Low Rate Mastercard
0% p.a. for 18 months with 2% balance transfer fee
11.99% p.a.
$45 p.a.
A no-frills credit card with a competitive annual fee and 0% p.a. interest rate on balance transfers for the first 18 months.
ANZ First
0% p.a. for 18 months with 2% balance transfer fee
20.24% p.a.
$30 p.a.
Get up to 18 months interest-free on balance transfers and save with a low $30 annual fee. Plus, up to 55 days interest-free on purchases.
American Express Velocity Escape Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Earn uncapped Velocity Points on purchases and save with a $0 annual fee for life.
American Express Explorer Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Get 50,000 bonus points when you spend $3,000 in the first 3 months, a yearly $400 Travel Credit and 2 entries per year to the Amex Lounge.
American Express Platinum Edge Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$195 p.a.
Receive a yearly $200 Travel Credit and complimentary domestic and international travel insurance, plus earn up to 3 Membership Rewards Points per $1 spent.
Qantas American Express Discovery Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Earn uncapped Qantas Points on your purchases and pay $0 annual fee for life.
Qantas American Express Ultimate Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations. Ends 14 Apr 2020.
Qantas American Express Premium Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$249 p.a.
Enjoy 30,000 bonus Qantas Points, 2 complimentary Qantas Club lounge invitations per year and the protection of complimentary insurance covers.
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How do balance transfer limits work?

When you apply for a credit card, the card issuer assigns you a maximum credit limit based on your income, credit history and other factors (including any credit limit you request during the application). If you're also applying for a balance transfer, your approved credit limit could have an impact on how much debt you're able to move onto the new card.

Usually, you can transfer between 70% and 100% of the new card's approved credit limit, although this varies between card issuers. For example, if a card allows you to transfer 80% of your credit limit and you're approved for a $10,000 limit, you'd be able to balance transfer $8,000 worth of debt.

If you're transferring multiple debts from more than one account, you need to make sure that the combined debt doesn't exceed this balance transfer limit. Otherwise, the bank may only transfer the maximum amount of debt, which could leave you with a balance on your old account. You may also find that there is a minimum transfer limit, which is usually between $200 and $500. Balance transfer credit limits vary between cards, so you can compare your options below.

What happens when you balance transfer is higher than your credit limit?

How much can I balance transfer?

The table below shows balance transfer limits for different financial institutions. If you're looking at a particular balance transfer credit card, you can also find these details on the review pages.

Bank

Balance transfer limit

Commonwealth BankCommonwealth Bank can process balance transfer requests from $500 up to your available credit limit.
BankwestYou can use up to 95% towards a balance transfer with Bankwest.
ANZMinimum balance transfer limit of $100 and a maximum balance transfer limit up to 95% of your credit limit.
NABNAB’s minimum balance transfer limit is $200. NAB’s maximum balance transfer limit is up to 90% of your approved credit limit at the time of processing the balance transfer request.
WestpacWestpac lets you to use up to 80% of your credit card limit towards a balance transfer.
St.GeorgeSt.George’s minimum balance transfer is limit $200 and maximum balance transfer limit is up to 80% of your credit limit.
Bank of MelbourneYou can balance transfer a minimum of $200 and up to 80% of your credit limit with Bank of Melbourne.
BankSABalance transfer as little as $200 and up to 80% of your credit limit with BankSA.
Bank of QueenslandYou can balance transfer up to 80% of your approved credit limit.
CitiThe minimum credit limit is $500 and up to 80% of your approved credit limit.
Coles MastercardYou can transfer up to a maximum of 80% of your approved credit limit to a Coles credit card.
Community FirstBalance transfers to Community First credit cards start at $500 and are capped at your Community First credit card credit limit.
HSBCYou can transfer up to 90% of your credit limit.
MEYou can transfer up to $100 less than your available credit limit.
Suncorp BankYou can transfer up to 80% of your approved credit limit.
WoolworthsWoolworths can process balance transfer requests from $500 up to your available credit limit.

As well as the size of your debt, you may need to meet income requirements and have a good credit score to be approved. Before you apply, you can check your credit report and score for free through Finder.

As the amount of debt you can move onto a balance transfer card depends on the credit limit, you won't know exactly how much you can balance transfer until your application is approved. But checking the minimum and maximum balance transfer amounts, as well as potential credit limits, can help you find a card that works for you.

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10 Responses

  1. Default Gravatar
    KimJanuary 19, 2019

    I have been approved for a balance transfer credit card. They have advised me that they will transfer the full amount of my credit card limit in the next 2-3 working days. While I have been waiting on this approval I had to make a minimum payment to the existing credit card. With the minimum payment now applied the balance owing on the existing credit card is now less than the amount that my new credit card will be transferring. My question is what happens to that difference in balances? For example, if my existing credit card limit was $5000 and the new credit card will be transferring the balance of $5000 but I made the payment of $200 to the existing credit card. The true owing balance to the existing credit card is now $4800 (not counting interest fees). My new credit card provider has said that they will still transfer the full $5000. Therefore what happens to the $200 that I had to pay as a minimum payment to my existing credit card?

    • Avatarfinder Customer Care
      JeniJanuary 22, 2019Staff

      Hi Kim,

      Thank you for getting in touch with finder.

      You may discuss the amount you’ve paid with your existing credit card issuer if becomes an over payment. As you know, if the balance transfer amount has not been completed then you have to pay your minimum repayment on or before the due date with your existing credit card issuer to prevent missed/late payment.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    AleasheaDecember 27, 2018

    I’m on centerlink benefits I’m looking for a credit card that we’re I’m not paying alot back but have a minimum card useage of 1000. Thanks

    • Avatarfinder Customer Care
      JohnDecember 27, 2018Staff

      Hi Aleashea,

      Thank you for reaching out to finder.

      Please click on this link to go to our finder page “Credit cards for retired and pensioner applicants”. This page will give you details on the requirements for each credit card provider when you make an application. The page also provides you tip on what you could do when comparing these cards. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    JazzSeptember 30, 2015

    Hi
    Not sure if my last question came thru but basically, what happens if you pay off your balance transfer quicker than 14months etc?

    Also, is it possible to do another balance transfer from the same card? Obviously with a different bank.
    Or is that a bad idea..

    Thanks

    • Avatarfinder Customer Care
      JonathanSeptember 30, 2015Staff

      Hi Jazz, thanks for your question.

      If your balance transfer debt is repaid then you can use the credit card as normal. If you meet the eligibility requirements for the next bank/ card you are applying for then you can request a balance transfer to pay less interest.

      Cheers,

      Jonathan

  4. Default Gravatar
    JazzSeptember 24, 2015

    Hi,
    I have been accepted for a st George vertigo card, however my credit limit is very low.
    Would it be best to amend the amount to transfer rather than cancelling the card? Would this help credit limits or do Banks just stick to initial credit limit.

    Also, if I cancel this card, how long should I wait before applying or another credit card balance transfer?

    Thank You.

    • Avatarfinder Customer Care
      JonathanSeptember 25, 2015Staff

      Hi Jazz, thanks for your inquiry!

      If the approved credit limit for your St.George Vertigo card is insufficient to transfer all your existing credit card debt, then a credit limit increase can be requested. In regards to applying for another credit card typically it is best to wait at least a few months (4-6 months) before applying for another card.

      Cheers,

      Jonathan

    • Default Gravatar
      JazzSeptember 30, 2015

      Hi,
      Another question:

      If the smaller amount of balance transfer is paid off say in couple months time, would it be a bad idea to apply for another credit card for another balance transfer, In the hopes that the credit limit be extended?

      Thank U.

    • Avatarfinder Customer Care
      JonathanSeptember 30, 2015Staff

      Hi Jazz, thanks for your inquiry!

      Credit limits are subject to a bank’s lending criteria who take into account income, liabilities, employment history and credit history. As a result applying for another credit card balance transfer offer will not guarantee a credit limit extension. Frequent credit applications can display negative signals to a bank, so it can be recommended to wait at least a few months before applying for another card.

      Cheers,

      Jonathan

Credit Cards Comparison

Updated April 4th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
Coles No Annual Fee Mastercard
19.99% p.a.
0% p.a. for 18 months with 1.5% balance transfer fee
$0 p.a.
Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.
Qantas American Express Ultimate Card
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations. Ends 14 Apr 2020.
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$45 p.a.
A no-frills credit card with a competitive annual fee and 0% p.a. interest rate on balance transfers for the first 18 months.
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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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