Can you transfer multiple credit cards with a balance transfer?

The answer is yes, but the process can vary between banks.

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The average Australian has more than $3,000 of credit card debt, $1,891 of which is collecting interest. This debt is typically spread between 2.2 credit cards, which means most of us carry more than one card at a time. If you're looking to consolidate your debts under one account, a balance transfer credit card could be the answer.

How to consolidate multiple credit card debts with a balance transfer

When you apply for a balance transfer credit card, you can usually nominate to move debt from multiple existing credit card accounts. The exact number of debts you can transfer may vary between banks, but you can usually transfer between one to four debts to a new account. If you're approved for the balance transfer, your debts will be consolidated into a single balance on your new card in a couple of weeks.

Rather than juggling multiple accounts with different interest rates, you can then pay off your debt under one account with an introductory low or 0% interest rate for a promotional period. Not only is this easier, but you could also save hundreds or thousands of dollars in interest. You can see our guide to combining credit card debts with a balance transfer for more information.

Are there any limitations?

  • Balance transfer limit. Although you can usually transfer multiple debts, the combined debt can't be more than the balance transfer limit. This amount varies between cards and banks but is usually a percentage (say 70% or 90%) of your approved credit limit. So, if you had an approved credit limit of $10,000 with a balance transfer limit of 80%, you could only move up to $8,000 to your new account. If your combined debt exceeds this amount, the remainder will stay in your old accounts, which you'll have to pay off at the standard interest rate. If your multiple debts add up to a large sum, you can compare high credit limit balance transfer credit cards to help find an option that suits your needs.
  • Eligible banks. You typically can't transfer balances from cards that are issued by the same bank as the one that you're applying with. For example, you couldn't transfer a balance from one NAB card to a new NAB card with a 0% balance transfer offer. Similarly, Citi may refuse balance transfers from other Citigroup accounts, including those held with Virgin Money, Suncorp Bank and Qantas Money. Check out our guide on which banks you can and can't transfer between for more information.
  • Number of accounts. The exact number of accounts you can transfer will vary between cards. For example, if you wanted to transfer balances from three accounts but the application only had space to include details for two accounts, you may not be able to consolidate all your debts. However, it could still be worth contacting the provider to see if you can transfer debt from an additional account in order to combine all your card debts.
  • Eligibility requirements. As with any credit card, you need to meet a set of eligibility requirements for your application to be approved. This usually includes your residency status, annual income and credit history. You can check eligibility requirements on individual card review pages, as well as at the start of the application.

If your balance transfer request is successful, the debts should be transfer in around 5–10 business days from when you activate the new card. After that, you can cancel your old cards to avoid ongoing fees and the temptation to spend more.

Calculate how much a balance transfer could save you in four steps

Compare balance transfer credit card offers

Rates last updated August 24th, 2019
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
Citi Clear Platinum Credit Card
0% p.a. for 14 months
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Westpac Low Rate Card
2019 Winner
Westpac Low Rate Card
0% p.a. for 16 months
13.74% p.a.
$59 p.a.
A no frills, low rate card offering 0% p.a. interest on balance transfers for the first 16 months, with no balance transfer fee.
HSBC Platinum Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$129 p.a.
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Get a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and a 14-month balance transfer.
Citi Rewards Platinum Credit Card - Balance Transfer Offer
0% p.a. for 26 months with 1.5% balance transfer fee
20.99% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus $0 first year annual fee.
St.George Vertigo Classic
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 20 months
20.74% p.a.
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Finder Exclusive ends 31 August 2019:
Save with a 0% balance transfer offer and a $49 first year annual fee when you apply online.
ANZ First Visa Credit Card
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.
St.George Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.
St.George Vertigo Classic - Exclusive Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
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 75,000 bonus Velocity Points and save with a $64 first year annual fee. Plus, a long-term balance transfer offer.
Bank of Melbourne Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. balance transfer rate for 18 months, a reduced annual fee for the first year and complimentary travel insurance.
Citi Rewards Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months
0% for 13 months, reverts to 20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
0% p.a. for 18 months
20.74% p.a.
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Bendigo Bank Low Rate Mastercard
0% p.a. for 18 months with 2% balance transfer fee
11.99% p.a.
$45 p.a.
Take advantage of 0% p.a. for 18 months on balance transfers, plus a low variable purchase interest rate of 11.99% p.a. on purchases.
BankSA Vertigo
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 16 months on balance transfers. Plus, a low annual fee and purchase interest rate.
Bank of Melbourne Vertigo Classic
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Enjoy 0% p.a. interest for up to 16 months on balance transfers. Plus, a low annual fee and competitive purchase rate.
Citi Prestige Card
0% p.a. for 6 months
20.99% p.a.
$700 p.a.
Enjoy 150,000 bonus reward Points, unlimited airport lounge access, complimentary insurance covers and more.
BankSA No Annual Fee
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Offers a 0% p.a. for 12 months balance transfer, up to 55 days interest-free on purchases and an ongoing $0 annual fee.

Compare up to 4 providers

Rates last updated August 24th, 2019
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
HSBC Platinum Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$129 p.a.
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
Westpac Low Rate Card
2019 Winner
Westpac Low Rate Card
0% p.a. for 16 months
13.74% p.a.
$59 p.a.
A no frills, low rate card offering 0% p.a. interest on balance transfers for the first 16 months, with no balance transfer fee.
Citi Rewards Platinum Credit Card - Balance Transfer Offer
0% p.a. for 26 months with 1.5% balance transfer fee
20.99% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus $0 first year annual fee.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Get a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and a 14-month balance transfer.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 20 months
20.74% p.a.
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Finder Exclusive ends 31 August 2019:
Save with a 0% balance transfer offer and a $49 first year annual fee when you apply online.
Bendigo Bank Low Rate Mastercard
0% p.a. for 18 months with 2% balance transfer fee
11.99% p.a.
$45 p.a.
Take advantage of 0% p.a. for 18 months on balance transfers, plus a low variable purchase interest rate of 11.99% p.a. on purchases.
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 75,000 bonus Velocity Points and save with a $64 first year annual fee. Plus, a long-term balance transfer offer.
St.George Vertigo Classic
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no balance transfer fee. Plus, a low annual fee and purchase rate.
St.George Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.
ANZ First Visa Credit Card
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.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
0% p.a. for 18 months
20.74% p.a.
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Citi Clear Platinum Credit Card
0% p.a. for 14 months
12.99% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Bank of Melbourne Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. balance transfer rate for 18 months, a reduced annual fee for the first year and complimentary travel insurance.
BankSA Vertigo
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 16 months on balance transfers. Plus, a low annual fee and purchase interest rate.
Bank of Melbourne Vertigo Classic
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Enjoy 0% p.a. interest for up to 16 months on balance transfers. Plus, a low annual fee and competitive purchase rate.
Virgin No Annual Fee Credit Card
6.9% p.a. for 36 months
18.99% p.a.
$0 p.a.
Offers 6.9% p.a. for 36 months on balance transfers and up to 44 days interest-free on purchases, all for a $0 annual fee.
BOQ Low Rate Visa Credit Card
0% p.a. for 14 months
13.49% p.a.
$55 p.a.
A no-frills card offering 0% on balance transfers for the first 14 months with no balance transfer fee. Plus, a competitive purchase interest rate.
St.George No Annual Fee
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Receive up to 55 days interest-free on purchases, a low minimum credit limit of $500 and a long-term balance transfer offer.
Bank of Melbourne No Annual Fee Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Take advantage of 0% p.a. for 12 months on balance transfers, up to 55 days interest-free on purchases and no annual fee for the life of the card.
BOQ Platinum Visa Credit Card
0% p.a. for 12 months
20.74% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 1,000 bonus Q Rewards points monthly when you meet the spend requirement, a 12-month balance transfer offer and $0 first year annual fee.

Compare up to 4 providers

Rates last updated August 24th, 2019
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
Citi Prestige Card
0% p.a. for 6 months
20.99% p.a.
$700 p.a.
Enjoy 150,000 bonus reward Points, unlimited airport lounge access, complimentary insurance covers and more.
St.George Vertigo Classic - Exclusive Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
BOQ Blue Visa Credit Card
0% p.a. for 6 months
20.74% p.a.
$60 p.a.
Receive $120 cashback when you spend $500 per month on retail purchases for the first 3 months, and a 6 month interest-free balance transfer offer.

Compare up to 4 providers

Transferring multiple credit card debts with a balance transfer gives you a way to consolidate your debts so that you only need to deal with one monthly repayment and one interest rate. To help you decide if this option will work for you, make sure you consider the limitations listed above and compare the rates, fees and other features of a range of balance transfer credit cards to find one that fits your needs.

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10 Responses

  1. Default Gravatar
    markAugust 15, 2015

    can i transfer more than 1 balance from the same credit card

    • Avatarfinder Customer Care
      JonathanAugust 17, 2015Staff

      Hi Mark, thanks for your inquiry!

      The balance of one credit card can be transferred to multiple cards providing you meet the application requirements for each.

      Cheers,

      Jonathan

  2. Default Gravatar
    SamOctober 5, 2013

    I currently have two credit cards, a St George Vertigo MasterCard and Members Equity card totalling just over $5000.
    My monthly minimum repayments for both are approx $120. Although I find myself paying $200 I still feel like I am getting nowhere!
    I will be honest and say I get very confused when looking to consolidate my cards trying to find a better options, that is rate, balance transfer for a 12 month or more period, etc.

    Any suggestions.

    Regards
    Sam

    • Avatarfinder Customer Care
      JacobOctober 5, 2013Staff

      Hi Sam.

      Have a look at our balance transfer comparison page. You can use the balance transfer savings calculator at the top of the comparison table to find out the approximate savings for each balance transfer promotional offer too. There are a number of offers on this page, use the check boxes on the left of the table and then click compare to get a one on one comparison between cards.

      You can transfer from multiple cards, the thing to note is that you can only transfer up to a percentage of credit limit on your new credit card. If you go with a lender that allows you to use 80% of your credit limit for a balance transfer, and you’re approved for a credit limit of $10,000, you could transfer up to $8,000 from your old cards to your new card. This page has more information on this topic.

      If you haven’t transferred a balance before, there’s space to enter the details of a couple of cards when you elect to transfer a balance during an online credit card application. You select the name of the bank from a drop down list of institutions, enter the card number(s) and type in how much you want to transfer from that card.

      Thanks for your question.

  3. Default Gravatar
    RachelApril 8, 2013

    I currently have a credit card balance of $15000 due to unforeseen family circumstances etc. I have applied for a balance transfer with another credit card which was only approved for a limit of $5000. Whilst I understand that it can be quite tricky juggling several credit cards to your benefit, Is it legal to apply for another balance transfer to another credit card to make up the current outstanding balance?

    • Avatarfinder Customer Care
      JacobApril 8, 2013Staff

      Hi Rachel. Yes. it’s completely legal; however, applying for multiple credit cards in a short space of time will have negative ramifications for your credit file. If a lender can see that you have had a series of credit enquiries in a short space of time, it will raise red flags with their credit department. They will want to know why you have tried to apply for multiple credit cards, and it may be a reason for rejecting an application. Having said that, what you’re suggesting has been done before and its success rest on the financial strength of the applicant. Jacob.

  4. Default Gravatar
    LeighFebruary 5, 2013

    My partner has two credit cards, one is 12.25% ($6,500) the other is 20.5% on purchases and 20.74% on cash advances ($13,500) therefore the debt is $20,000. currently we are paying approx $800 per month to get this down, but with little or no interest we could have this settled in close to 16 months, this would allow for other financial commitments.Could you recommend a credit card with the best transfer rate, or do you think it would be better to see if he could get the higher added to the lesser interest charged card?

    • Avatarfinder Customer Care
      JacobFebruary 5, 2013Staff

      Hi Leigh. You can transfers multiple balances to one credit card taking advantage of a low promotional balance transfer rate of interest – provided that the new card you open to transfer to has a higher credit limit that than the amount you wish to transfer. Please check our balance transfer comparison page for a comparison of the balance transfer credit cards in the market – use this page to find the balance transfer card that’s right for you. If you wish to bring the debt that is accruing the higher rate of interest to the card with the lesser interest charges, you will have to check that the lower interest cards lets customers transfer a balance after the account has been opened. Hope this helps.

  5. Default Gravatar
    HowardOctober 19, 2012

    I have approx $40,000 in 5 credit cards which I currently can pay the minimums each month but then reuse again never reducing the balance. What is my best option?

    • Avatarfinder Customer Care
      JacobOctober 19, 2012Staff

      Hi Howard. Thanks for your question. If have multiple credit cards it makes sense to consolidate your debt through a balance transfer with a low interest rate. Please refer to our balance transfer comparison page for information about balance transfer offers on the market. The card that’s right for you will depend on your personal circumstances. A few things you should know about balance transfers: the amount you can transfer will depend on your approved credit limit – generally lenders will allow somewhere between 80% and 95% of your approved limit to be used for a balance transfer. Also, you can not transfer the balance between related credit cards, for example, between a NAB and a NAB credit card, or a CUA and Citibank credit card (Citibank is the credit issuer for CUA, Virgin and a number of other institutions) – for more information on this, check this page. And finally, after the balance transfer period, the interest rate will revert to the cash advance or purchase rates of interest. Cheers.

Credit Cards Comparison

Rates last updated August 24th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

Compare up to 4 providers

* 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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