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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.

Balance transfers offer a low introductory interest rate for existing debts you move to the new card. This means you can save money on charges and pay off the balance faster. Our comparison of balance transfer credit cards includes 0% offers for periods of 12 months or more. These offers are generally available to new customers only.

When you apply for a new balance transfer credit card, you are assigned a credit limit. This limit affects your balance transfer as you can only use a certain percentage of it to move existing debts. You can view a table of available cards with balance transfer limits for banks and other financial institutions further down the page.

Balance Transfer Credit Card Comparison

Rates last updated November 23rd, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits plus 0% p.a. for 24 months on balance transfers (with no BT fee) and $0 annual fee in the first year. Ends 13 December 2017.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$129 p.a.
Earn 3 bonus Velocity Points per $1 for the first 3 months, a first year annual fee refund and a yearly $129 Virgin Australia Gift Voucher.
NAB Premium Card
0% p.a. for 20 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Benefit from premium perks including travel insurance, Platinum Concierge Service plus 0% p.a. for 20 months on balance transfers.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, take advantage of a long-term balance transfer offer and receive complimentary travel insurance.
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 12 months
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months with no balance transfer fee.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
Bankwest Breeze Classic Mastercard
0% p.a. for 13 months with 2% balance transfer fee
0% p.a. for 13 months (reverts to 12.99% p.a.)
$79 p.a.
Receive 0% interest offers on purchases & balance transfers, up to 55 days interest-free on purchases and free emergency card replacement.
St.George Vertigo Visa - Online Offer
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Take advantage of 0% p.a. for 18 months on balance transfers (with no BT fee). Plus, $0 annual fee in the first year. Ends 13 December 2017.
Westpac Low Rate Card - Online Only Balance Transfer Offer
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee when you apply online by 31 January 2018.
NAB Low Fee Card
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Receive a discounted annual fee, $100 cashback when you meet the spend requirement and up to 44 days interest-free on purchases.
NAB Low Rate Platinum Card
4.99% p.a. for 6 months
0% p.a. for 9 months (reverts to 13.99% p.a.)
$100 p.a.
A platinum card that offers 0% p.a. for 9 months on purchases. Plus 4.99% p.a. on balance transfers for 6 months.
Citi Rewards Platinum Credit Card
0% p.a. for 24 months with 1.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Offers a long-term balance transfer. Earn extra points on eligible international spend, plus complimentary travel insurance.
Woolworths Everyday Platinum Credit Card
0% p.a. for 14 months
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you apply by 31 January 2018 and make an eligible purchase by 28 February 2018.
American Express Essential Credit Card
0% p.a. for 12 months with 3% balance transfer fee
14.99% p.a.
$0 p.a.
Get Smartphone Screen Insurance of up to $500 when you pay for your phone or contract with your Essential Credit Card.
American Express Explorer Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.
Qantas Premier Platinum
0% p.a. for 15 months
19.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Fly further with 75,000 bonus Qantas points, up to 2 Qantas Points per $1 spent and 2 yearly complimentary Qantas Club lounge invitations.
Australian Military Bank Low Rate Visa Credit Card
0% p.a. for 12 months
10.99% p.a.
$49 p.a.
Enjoy up to 55 interest-free days on purchases, add an additional cardholder for $0 and enjoy the convenience of Visa payWave.
McGrath Pink Visa
4.99% p.a. for 8 months
4.99% p.a. for 8 months (reverts to 8.99% p.a.)
$40 p.a.
A basic, no-frills credit card with up to 55 days interest-free that donates half of the card's annual fee to the McGrath Foundation.

Compare up to 4 providers

How do balance transfer limits work?

A balance transfer is a money saving credit card feature that’s typically offered to new customers. A financial institution can provide a special promotional rate of interest on any credit or store card debt you transfer to a new credit card when you apply for the product. You save money during the promotional period because your interest repayments are lower.

When the promotional period ends, the balance transfer rate will revert to a standard rate of interest, usually the cash advance rate or the purchase rate of the card. The minimum balance transfer amount is generally $200 - $500. The maximum amount you can balance transfer is usually based on a percentage of your credit limit. Each institution has different rules about maximum balance transfer limits.

What is a balance transfer?

How much can I balance transfer?

The table below shows balance transfer limits for different financial institutions. When you’re reading our balance transfer credit card reviews, you can also view the “up to balance transfer percentage” limit information in the relevant tables.

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 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 95% 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 95% of your credit limit.
Bank of MelbourneThe balance transfer minimum for Bank of Melbourne is $200. You can request a balance transfer up to the full amount of your available credit limit.
BankSABalance transfer as little as $200 and up to 95% of your credit limit with BankSA.
Bank of QueenslandThe Bank of Queensland minimum balance transfer amount is $500 and the maximum amount is up to your available credit limit.
CitiThe minimum credit limit is $500 and the maximum amount is up to your available credit limit. Citi reserve the right to cap your balance transfer amount as a portion of your credit limit. .
Coles MastercardThe Coles minimum balance transfer limit is $100 and the maximum amount is up to your credit limit.
Community FirstBalance transfers to Community First credit cards start at $500 and are capped at your Community First credit card credit limit.
HSBCUp to your HSBC credit card limit.
MEME minimum balance transfer limit is $100 and the maximum amount is up to your credit card limit
Suncorp BankSuncorp Bank minimum balance transfer limit is $500 and the maximum amount is up to your available credit limit. Note: Balance transfers are not accepted from other CIti Group credit cards.
WoolworthsBalance transfers are capped at up to your credit limit. Woolworths reserve the right to put a cap on your balance transfer.Note: Balance transfers to Woolworths credit cards are not accepted from HSBC credit cards.

Credit limits and balance transfer limits

Finding the right balance transfer credit card with the right balance transfer limit is a straightforward process. Look at how much debt you want to transfer and think about whether you used the maximum credit limit available when you originally applied for the credit card. This previous decision could affect the new limit offer made to you when you apply for a balance transfer.

To put this in perspective, check out the following case studies, where Jessica and Daniel both recently transferred a balance to a new credit card so they could save money on credit card interest repayments.

Balance transfers: ANZ, St.George, 28 Degrees and NAB

Jessica, Sydney, 36

Jessica applied for ANZ Low Rate credit card so she could pay down the $5,000 she owes on her St.George Vertigo Platinum. The ANZ Low Rate has a balance transfer offer of 0% p.a. for 18 months and cardholders use up to of their credit limit towards a balance transfer.

She previously took the maximum credit limit offered to her by St.George, $6,000. As a result, ANZ could only offer her a limit of $3,000 on her new credit card. Jessica was able to transfer $2,850 from her St.George credit card on to her new ANZ credit card under the balance transfer promotion. She used the interest free period on her ANZ credit card to save her money on that debt so she could concentrate on paying down the remaining $2,150 on her Vertigo Platinum (which was still accruing interest).

Daniel, Melbourne, 29

Daniel applied for the 28 Degrees Mastercard to use on an overseas trip. GE Money offered him a $10,000 limit but he decided he only needed a credit limit of $2,000 as he was using the card mainly as a backup on his travels.

Daniel ended up maxing out the 28 Degrees Mastercard on his trip. When he got home, he applied for a balance transfer to the NAB Low Rate credit card, which offered 4.99% p.a. for 6 months plus a one off 2% balance transfer handling fee. NAB offered a $5,000 credit limit to Daniel but he decided to set his limit at $2,100. As NAB lets cardholders use up to their credit limit for a balance transfer, the limit on the NAB card was enough to cover the whole debt.

*Rates and fees used are for example purposes only.

Remember, your borrowing power is based on your income/assets compared to your expenses/liabilities. If you take the maximum credit limit, it will be difficult to balance transfer the full amount to a new credit card if your income/asset ratio has not changed. It’s also important to compare balance transfer credit cards so you can find the right deal and save money on your credit card repayments.

Frequently asked questions

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6 Responses

  1. Default Gravatar
    September 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

    • Staff
      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

  2. 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.

    • Staff
      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
      September 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.

    • Staff
      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

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