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BankSA Balance Transfer guide

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 low rate credit card which features 0% introductory rate on balance transfers, a low ongoing interest rate on purchases and annual fee waiver in the first year.

  • $0 p.a. annual fee for the first year ($55 p.a. thereafter)
  • 13.24% p.a. on purchases
  • 0% p.a. for 18 months on balance transfers
  • Cash Advance Rate of 21.49% p.a.
  • Up to 55 days interest free

Rates last updated July 29th, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved Product Description
BankSA Vertigo Visa
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Get up to 55 days interest-free on purchases and be protected by 24/7 Falcon® Fraud service.
BankSA Vertigo Platinum
0% p.a. for 18 months
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Take advantage of purchase protection, extended warranty and overseas travel insurance, plus a 24/7 concierge.
BankSA Amplify Signature
0% p.a. for 12 months
19.49% p.a.
$279 p.a.
Earn up to 3 Amplify Rewards Points per $1 spent, receive complimentary travel insurance and access to the Visa Luxury Hotel Collection.
BankSA Amplify Platinum
0% p.a. for 12 months
19.49% p.a.
$99 p.a.
Earn up to 2 Amplify Rewards Points per $1 spent and redeem for a wide range of products including flights.
BankSA Amplify Card
19.49% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Earn 1 Amplify Rewards Point per $1 spent and receive up to 55 days interest-free on purchases.
BankSA No Annual Fee Visa
0% p.a. for 14 months
20.49% p.a.
$0 p.a.
Receive up to 55 days interest-free on purchases and add up to 3 additional cardholders at no cost.
BankSA Amplify Business Credit Card
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)
Earn up to 2 Amplify Rewards Points per $1 spent, plus the protection of complimentary business inconvenience insurance.
BankSA Visa Business Credit Card
9.99% p.a.
$55 p.a.
Manage your cashflow with up to 55 days interest-free on purchases and enjoy simpler expense reporting and Visa benefits.

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Rates last updated July 29th, 2017
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved Product Description
NAB Premium Card - Exclusive Offer
0% p.a. for 24 months
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, long-term balance transfer offer with platinum privileges, including travel insurance.
Virgin Australia Velocity Flyer Card - Exclusive Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Apply by 31 July 2017 to receive a long-term, no fee balance transfer and a $129 Virgin Australia Gift Voucher each year.
St.George Vertigo Platinum
0% p.a. for 20 months
12.74% p.a.
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
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.
St.George Vertigo Visa
0% p.a. for 14 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
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.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$99 p.a.
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
Bank of Melbourne Vertigo Platinum
0% p.a. for 20 months
12.74% p.a.
$99 p.a.
Get a range of complimentary insurance covers, access to a 24/7 concierge and up to 55 days interest-free on purchases.
BankSA Vertigo Visa
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Get up to 55 days interest-free on purchases and be protected by 24/7 Falcon® Fraud service.
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.
HSBC Low Rate Credit Card
0% p.a. for 15 months with 2% balance transfer fee
13.25% p.a.
$55 p.a.
Receive up to 55 days interest-free on purchases. Also enjoy exclusive offers with the home&Away Privilege Program.
Virgin Money Low Rate Credit Card
0% p.a. for 12 months
11.99% p.a.
$99 p.a.
Receive up to 44 days interest-free on purchases and the optional insurance coverage of CreditShield Edge.
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% BT fee. Plus, the convenience of the Westpac mobile banking app.
NAB Low Rate Platinum Card
0% p.a. for 16 months with 2% balance transfer fee
13.99% p.a.
$100 p.a.
Enjoy the protection of 7 complimentary insurances including overseas travel and purchase protection insurance.
ANZ Low Rate Platinum
0% p.a. for 16 months with 2% balance transfer fee
11.49% p.a.
$99 p.a.
Enjoy platinum benefits with exclusive discounts, complimentary travel and purchase insurances and a 24/7 personal concierge.
American Express Essential®  Credit Card
0% p.a. for 12 months with 1% balance transfer fee
14.99% p.a.
$0 p.a.
Receive a $50 credit when you apply online, are approved and spend $750 on your new card within the first 3 months of card membership.
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 $100 eGift Card when you apply by 30 September 2017 and make an eligible purchase by 31 October 2017.
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.

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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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