BankSA Balance Transfer guide

Information verified correct on April 29th, 2017

Looking to clear your debt? Consider a BankSA balance transfer.

If you’re feeling burdened by high interest credit card debt, then it might be time to consider a BankSA balance transfer. To help you compare your options, we’ve summarised some of the benefits and features in this how-to guide on applying for a balance transfer with BankSA.

BankSA Vertigo Visa

BankSA Credit Card Offer

The BankSA Vertigo Visa is a great no frills low rate credit card.The ideal credit card for Australian’s who love shopping with a low rate on purchases and balance transfers.

  • $55 p.a. annual fee
  • 0% p.a. for 6 months (reverts to 13.24% p.a.) on purchases
  • 0% p.a. for 12 months on balance transfers
  • Cash Advance Rate of 21.49% p.a.
  • Up to 55 days interest free
Rates last updated April 29th, 2017
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
BankSA Vertigo Visa
A low interest rate card with a low annual fee and a balance transfer offer.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
BankSA Amplify Card
A rewards card with flexibility, a competitive balance transfer rate offer and the choice of two rewards programs.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $79 p.a. Go to site More info
BankSA Amplify Signature
Receive 30,000 bonus points and enjoy a long-term balance transfer offer of 0% p.a. for 12 months plus a purchase offer of 0% p.a. for 6 months.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $279 p.a. Go to site More info
BankSA Amplify Platinum
Take advantage of the low balance transfer offer of 0% p.a. for 12 months.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $99 p.a. Go to site More info
BankSA Vertigo Platinum
Enjoy 0% balance transfer rate for 12 months and 0% purchase rate for 6 months if you apply and are approved by 1 May 2017.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
BankSA No Annual Fee Visa
A no annual fee credit card from BankSA with a low purchase rate and a long term balance transfer offer.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 20.49% p.a.) $0 p.a. More info
BankSA Amplify Business Credit Card
This business credit card offers the choice of Amplify Rewards or Qantas rewards, 0% p.a. on purchases for 12 months and a waived annual fee for the first year.
0% p.a. for 12 months (reverts to 19.49% p.a.) $0 p.a. annual fee for the first year ($89 p.a. thereafter) More info
BankSA Visa Business Credit Card
Low interest rate on purchases and interest free period to help manage your business cash flow
9.99% p.a. $55 p.a. More info
 
Rates last updated April 29th, 2017
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
0% p.a. for 18 months with 1.5% balance transfer fee 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
0% p.a. for 15 months 19.99% p.a. $149 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
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) Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 12 months on balance transfers and 0% p.a. for 6 months on purchases, plus a low annual fee.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
HSBC Low Rate Credit Card
This card comes with a balance transfer offer, a low interest rate and up to 55 days interest-free on purchases.
0% p.a. for 15 months with 2% balance transfer fee 13.25% p.a. $55 p.a. Go to site More info
NAB Low Rate Credit Card
A low rate card which offers 0% p.a. on balance transfers for the first 18 months combined with a low annual fee.
0% p.a. for 18 months with 3% balance transfer fee 13.99% p.a. $59 p.a. Go to site More info
Citi Rewards Platinum Credit Card
A long-term balance transfer offer with the Citi Rewards Platinum Card. Earn extra points on eligible international spend, plus complimentary travel insurance.
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) Go to site More info
NAB Premium Card
Benefit from premium credit card advantages including travel insurance, Platinum Concierge Service plus 0% p.a. for 24 months on balance transfers.
0% p.a. for 24 months with 3% balance transfer fee 19.74% p.a. $90 p.a. Go to site More info
American Express Essential®  Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
NAB Low Fee Card
Enjoy a low annual fee card with a low introductory rate of 0% p.a. on balance transfers for 18 months.
0% p.a. for 18 months with 3% balance transfer fee 19.74% p.a. $30 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 12 months and an introductory purchase offer of 0% p.a. for 6 months.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
ANZ Low Rate Platinum
Enjoy platinum benefits with exclusive discounts, complimentary travel insurance and personal concierge. Also repay your credit card debt interest-free with 0% p.a. for 16 months on balance transfers.
0% p.a. for 16 months with 2% balance transfer fee 11.49% p.a. $99 p.a. Go to site More info
Woolworths Everyday Platinum Credit Card
Receive a $100 eGift Card when you apply by 30 June 2017 and make an eligible purchase by 31 July 2017. Also, enjoy a long-term balance transfer offer and an annual fee waiver for the first year.
0% p.a. for 14 months 19.99% p.a. $0 p.a. annual fee for the first year ($49 p.a. thereafter) Go to site More info

Balance transfers with BankSA?

A balance transfer is the process of transferring an outstanding balance from one high interest credit card to a credit card offering a promotional low rate period. This means you can consolidate your debt onto the one card, easily manage your finances and repay your debt without the added burden of high interest rates and fees.

What are the benefits of a BankSA balance transfer?

  • Save money. The promotional low rate period reduces interest costs for a limited period of time. This means your repayments go directly towards reducing your debt.
  • Debt free. The aim of a balance transfer is to clear your debt within the promotional low rate period. If you create a budget and stick to it, your days of debt could be over in no time.
  • Quick and easy. You can start consolidating your debt within two weeks of completing the transfer application.

Things to consider

  • Transfer limit. BankSA will allow you to transfer up to 95% of your credit limit. When deciding on your preferred credit limit, ensure the amount will support your entire transferred balance.
  • Features and conditions. Each of the credit cards on offer by BankSA have different annual fees, promotional low rate periods and revert rates. It’s important to compare each of these to ensure you’re applying for the right credit card for you.
  • What will the revert rate be? Once the promotional period has ended, the interest rate will switch to the variable cash advance rate.
  • Will I be charged a transfer fee? BankSA does not charge a fee for balance transfers.
  • Where can I transfer my balance from? You cannot complete a balance transfer from BankSA, Bank of Melbourne or St.George. Double-check which providers you can transfer between here.

How to apply for a BankSA credit card balance transfer

To apply for a BankSA credit card, you must be:

  • Over the age of 18
  • A permanent resident of Australia

Before beginning your application, there are a few things you should have on hand to help you answer some of the questions.
These include:

  • Income and employment details. A recent pay slip will help answer any questions regarding your income and employment.
  • Financial commitments. Any documents with information concerning your existing loans or expenses will be helpful.
  • Driver’s licence. You’ll need to provide your driver’s licence number if you have one.

Step 1. Select the card you wish to apply for and start the application. Once you’ve compared your options and decided on a credit card, you can start the application process. Click the green “Go to Site” button from our comparison table.

step1

You will then be redirected to the application process.

step1

Step 2. Credit card setup. Specify which credit card you wish to apply for, your preferred credit limit and whether you would like to purchase extra card insurance.

step2

Step 3. About you. If you are a new BankSA customer, you’ll need to answer the following questions:

  • Full name. Enter your name as it appears on your birth certificate.
  • Name to appear on credit card. Specify how you would like your name to appear on the credit card.
  • Date of birth. You must be 18 years or over to apply.
  • Marital status. State whether you are single, married or other.
  • Driver’s licence number. If you have a driver’s licence, you’ll need to provide the number.
  • Contact number. Enter the best number you can be reached on.
  • Email address. Ensure you’ve entered this correctly so that BankSA can contact you by email.
  • Residential status. Specify your living arrangements, such as whether you rent or own your home.
  • Residential address. Provide the address of where you are currently living.
  • Length of time at address. Specify how long you’ve been living at your current address.
  • Mailing address. Provide your mailing address if it’s different to your residential address.
  • Credit limit increase. Specify whether you would like to receive invitations to extend your credit card limit.

step3

Step 4. Employment. A pay slip will be able to help you answer the following questions regarding your employment:

  • Employment status. Specify whether you are employed on a full time, part time or other basis.
  • Employer. Enter the name of the company you work for.
  • Occupation. Enter your occupation.
  • Industry. Specify what type of industry you work in.
  • Employer’s address. Provide the main address of the company you work for.
  • Employee’s phone number. Enter the best contact details for your employer.
  • Time with employer. Specify how long you’ve been working for your employer.
  • Primary income. Enter your total income before or after tax.
  • Any other income. Enter the total amount of other income such as a second job or rental property.

step4

Step 5. Assets and liabilities. Any information you have concerning your expenses, assets or liabilities will help you answer the following questions:

  • Property. If you own a property, specify what it’s worth.
  • Contents value. Enter the total value of any contents or furniture you own.
  • Savings. Specify how much you have in savings with either BankSA or other institutions.
  • Value of assets. Assets may include a car or anything of monetary value.
  • Credit cards. Provide details of the credit cards you have with other institutions including the credit limit and amount owing.
  • Balance transfer. Select that you would like to do a balance transfer to your new BankSA credit card.
  • Loans. If you have any other loans, specify what type of loan it is, the amount you owe and your repayments.
  • Other liabilities. Provide details of any other liabilities you may have such as maintenance or a line of credit.
  • Expenses. Outline the total cost of your monthly expenses such as bills, transport and groceries.
  • Dependants. Specify the number of people who rely on you financially.
  • Preferred branch. Choose which BankSA branch would be most convenient for you.

step5

Step 6. Review and submit. Confirm the information you entered is correct. Ensure you have a thorough understanding of the terms and conditions before submitting your application.

Step 7. Application submitted. Congratulations, you’ve submitted your application! You can expect to receive a reply within 60 seconds. If your application has been approved, subject to verification, you will need to email or fax two computerised payslips that are less than eight weeks old and your year-to-date (YTD) income .

Step 8. Balance transfer process. The balance transfer process could take up to 14 days once you've completed the identification check and activated your card.

Step 9. Repay your debt. Now that you’ve taken the first step to consolidating your debt, it’s time to start chipping away at it. Remember to avoid using your card to make further purchases and remain focused on having your debt repaid before the promotional period ends.

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