hand holding multiple credit cards

Can you transfer multiple credit cards with a balance transfer?

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

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 16th, 2018
$
% 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 Amount Saved Product Description
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000.
St.George Vertigo Platinum - Online Offer
0% p.a. for 25 months
12.74% p.a.
$99 p.a.
Get platinum perks and save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. 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 60,000 bonus Velocity Points in the first 3 months and enjoy a discounted annual fee of $64 for the first year.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
Citi Simplicity Card
0% p.a. for 15 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 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, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
BankSA Amplify Card
3% p.a. for 36 months
19.49% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Receive a 3% p.a. for 36 months balance transfer and earn Qantas or Amplify Points per $1 spent. Plus, enjoy a $0 annual fee for the first year.
BankSA Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 16 months on balance transfers with no balance transfer fee. Plus, a low ongoing purchase rate.
St.George Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitive annual fee.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
St.George Amplify Card
3% p.a. for 36 months
19.49% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Take advantage of 3% p.a. interest on balance transfers for 36 months. Plus, a $0 first year annual fee and Amplify or Qantas Points per $1 spent.
NAB Low Rate Platinum Card
0% p.a. for 6 months with 2% balance transfer fee
0% p.a. for 9 months (reverts to 13.99% p.a.)
$100 p.a.
Enjoy a 0% p.a. interest rate offer on purchases for 9 months and the protection of 7 complimentary insurances including overseas travel insurance.
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, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
American Express Explorer Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Receive 50,000 bonus Membership Rewards points, a yearly $400 Travel Credit and 2 entries per year to the American Express Lounge.

Compare up to 4 providers

Rates last updated August 16th, 2018
$
% 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 Amount Saved Product Description
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
0% p.a. for 18 months
20.74% p.a.
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Receive a long 18-month, 0% p.a., no fee balance transfer and earn Suncorp Rewards Points or Qantas Points per $1 spent.
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 and enjoy a discounted annual fee of $64 for the first year.
St.George Vertigo Platinum - Online Offer
0% p.a. for 25 months
12.74% p.a.
$99 p.a.
Get platinum perks and save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee.
ANZ Low Rate
0% p.a. for 15 months
12.49% p.a.
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 months on balance transfers.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000.
Citi Rewards Platinum Credit Card
0% p.a. for 26 months with 2.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Receive a long-term BT offer, earn Citi Reward Points and receive complimentary travel insurance.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
ANZ First Visa Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% 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 44 days interest-free on purchases.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
St.George Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitive annual fee.
ANZ Platinum Credit Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.

Compare up to 4 providers

Rates last updated August 16th, 2018
$
% 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 Amount Saved Product Description
Citi Signature Qantas Credit Card
0% p.a. for 6 months
20.99% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Receive 50,000 bonus Qantas Points, 2 yearly airport lounge visits and complimentary travel insurance. Plus, a discounted first year annual fee.
Citi Prestige Card
0% p.a. for 6 months
20.99% p.a.
$700 p.a.
Reward yourself luxuriously with 150,000 bonus Points, free hotel stays, exclusive events and unlimited airport lounge access with Priority Pass.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 6 months
0% p.a. for 14 months (reverts to 20.74% p.a.)
$129 p.a.
Buy now and pay later with 0% p.a. interest on purchases for 14 months. Plus, 0% p.a. on balance transfers for up to 6 months.
NAB Rewards Classic Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$95 p.a.
Get 30,000 bonus points when you meet the spend requirement, 0.75 NAB Rewards Points per $1 spent and a 0% p.a. balance transfer offer.
NAB Rewards Platinum Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$195 p.a.
Collect 60,000 bonus points when you spend $2,500 within 60 days of account opening. Plus, receive complimentary travel and purchase insurances.
NAB Qantas Rewards Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$95 p.a.
A Visa card that offers 0.5 Qantas points per $1 spent, complimentary purchase protection insurance and up to 44 interest-free days on purchases.
NAB Qantas Rewards Premium Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$250 p.a.
Offers 30,000 bonus points when you meet the spend requirements and Qantas Points for your everyday spending. Plus a 24/7 personal concierge.
NAB Low Rate Credit Card
0% p.a. for 6 months with 2% balance transfer fee
0% p.a. for 6 months (reverts to 13.99% p.a.)
$59 p.a.
Receive an introductory 0% p.a. interest rate for 6 months on purchases, Visa Entertainment offers and a competitive $59 ongoing annual fee.

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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Amy Bradney-George

Amy is a senior writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

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Citi Clear Platinum - Exclusive Offer

Interest rate

14.99

Annual fee

49*

*$99 p.a. after first year

Westpac Low Rate Card

Interest rate

13.49

Annual fee

0*

*$59 p.a. after first year

Westpac Altitude Platinum Card - Qantas

Interest rate

20.24

Annual fee

50*

*$150 p.a. after first year

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Interest rate

12.49

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58

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10 Responses

  1. Default Gravatar
    markAugust 15, 2015

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

    • finder 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

    • finder 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?

    • finder 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?

    • finder 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?

    • finder 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.

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