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Balance transfers for existing customers

You can't balance transfer with your existing bank, but the money you'll save is probably worth the switch. Compare current offers below.

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Compare balance transfer credit cards

Most credit card promotional offers are only available to new cardholders as a way to encourage applications. This means you can't balance transfer with your existing card company. However, switching will likely offer you more savings than sticking with your current bank.

$
% p.a.
Name Product Balance transfer rate p.a. Purchase rate p.a. Annual fee Amount saved
Kogan Money Black Card - Exclusive Offer
0% for 30 months
20.99%
$0
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $30 Kogan.com Credit and uncapped rewards points.
HSBC Platinum Credit Card
0% for 36 months
19.99%
$29 for the first year ($129 thereafter)
Save money with a 0% balance transfer rate for 36 months (with no BT fee), a first-year annual fee discount and free travel insurance.
Coles Low Rate Mastercard
0% for 36 months
12.99%
$58
Enjoy 0% p.a. on balance transfers for the first 36 months (with no balance transfer fee).
St.George Vertigo Card
0% for 32 months
13.99%
$0 for the first year ($55 thereafter)
Get a 0% interest rate on balance transfers for 32 months (with no balance transfer fee) and a $0 annual fee for the first year.
Coles No Annual Fee Mastercard
0% for 12 months
19.99%
$0
Get 20,000 bonus Flybuys points when you spend $3,000 on eligible purchases in the first 90 days. Plus, an ongoing $0 annual fee.
St.George Amplify Platinum
0% for 24 months with 1% balance transfer fee
19.49%
$29 for the first year ($99 thereafter)
Earn 100,000 bonus Amplify Points (worth $450 in gift cards) when you spend $3,000 in the first 90 days. Plus, a first-year annual fee discount and Kayo cashback offer.
Bank of Melbourne Vertigo Card
0% for 32 months
13.99%
$0 for the first year ($55 thereafter)
Save with a 0% interest rate on balance transfers for 32 months (with no balance transfer fee) and a $0 annual fee for the first year.
Qantas Premier Platinum
0% for 18 months with 1% balance transfer fee
19.99%
$225 for the first year ($299 thereafter)
Earn 80,000 bonus Qantas Points when you spend $3,000 in the first 3 months and save with a reduced first-year annual fee.
BankSA Vertigo
0% for 32 months
13.99%
$0 for the first year ($55 thereafter)
Offers 0% p.a. for 32 months on balance transfers (with no balance transfer fee). Plus, a $0 first-year annual fee.
Citi Rewards Card - Velocity Points Offer
0% for 15 months
21.49%
$0 for the first year ($149 thereafter)
Earn 60,000 bonus Velocity Points when you spend $3,000 in the first 90 days. Plus, $0 first-year annual fee.
Citi Rewards Card - Cashback Offer
0% for 15 months
21.49%
$99 for the first year ($149 thereafter)
Get $400 cashback when you spend $2,000 through Apple Pay or Samsung Pay in the first 90 days. Plus, a $99 first-year annual fee.
ANZ Low Rate
0% for 30 months
12.49%
$0 for the first year ($58 thereafter)
Now eligible for Cashrewards Max. Save with 0% p.a. on balance transfers for 30 months (with no BT fee) and $0 first-year annual fee. Plus a 12.49% p.a. purchase interest rate.
Citi Clear Card - Cashback Offer
0% for 15 months
14.99%
$49 for the first year ($99 thereafter)
Get $250 cashback when you spend $3,000 in the first 90 days. Plus, free wine when you dine and purchase insurance cover.
Bendigo Bank Low Rate Credit Card
0% for 20 months with 2% balance transfer fee
0% for 20 months, reverts to 11.99%
$45
Save money on interest for up to 20 months with 0% p.a. on purchases and balance transfers (11.99% p.a. after). Plus, a $45 annual fee.
Citi Premier Card - Cashback Offer
0% for 6 months
21.49%
$150 for the first year ($300 thereafter)
Receive $600 cashback when you spend $2,000 through Apple Pay or Samsung Pay in the first 90 days. Plus, save with a $150 first-year annual fee discount.
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Compare up to 4 providers

One of the frustrating things about being an existing customer is that you often don't get access to the same deals as new customers. This is because banks want to attract new customers, so they offer special deals, offers and interest rates that existing customers aren't eligible for.

A great example of this is credit card balance transfer offers.

Some banks may let you transfer balances to your existing credit card with them, but it usually has to be transferred from a card that's not with them. For instance, if you had 2 different Westpac cards, you couldn't transfer the balance from 1 card to another.

However, if you had a Westpac card and a NAB card, you could transfer the NAB card's balance over to the Westpac card. It can get even trickier if you wish to balance transfer from 1 bank to another and they're owned by the same parent company.

What are the benefits of doing a balance transfer with your existing bank?

While existing cardholders don't get the most competitive balance transfer, bonus point or 0% interest rate offers, you can still get benefits from using a familiar card (listed below).

Also, if you have a weak credit score, you may not get approved for another card. If you're in this position, it might be worth calling your credit card provider and letting them know you're not happy. Occasionally, your provider will offer you an annual fee discount or extra perks to encourage you to stay.

Overall, if you're keen to get access to bonus points or better perks, you'll be better off transferring your balance to a new card with a different bank, so you can take advantage of the discounts and offers as a new customer.

What perks can I get as an existing cardholder?

  • Bonus points offers. Occasionally, card providers will allow you to earn bonus points on specific spending. For example, American Express often awards bonus points when you spend with a partnered retailer during a promotional period and Qantas lets you earn triple bonus points on certain promotional flights or hotel bookings.
  • Cashback offers. Some banks offer a promotional cashback offer instead of bonus points. For example, you might be able to receive 2% back on all eligible spending within a specific period.
  • Network perks. Card payment networks provide a host of exclusive travel, lifestyle, shopping, dining and entertainment offers to existing cardholders. For example, Visa Entertainment, Mastercard Priceless Cities and American Express Experiences all offer cardholders entertainment perks such as presale concert tickets, event discounts and access to private lounges.
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    11 Responses

    1. Default Gravatar
      frankJuly 25, 2017

      I want to transfer balances from existing cards to capitalise on best offers

      • Default Gravatar
        JonathanJuly 25, 2017

        Hi Frank,

        Thank you for sending your enquiry today.

        You can check the list of balance transfer credit card offers and explore your options.

        Please take note of their minimum requirements to have higher chances of approval for the new card. Also, most cards would only allow up to 80% transfer to the approved limit, the balance transferred is not eligible for rewards, and is not possible for the same credit card issuer (for example from Virgin to Citibank, as they are both issued by Citibank PTY LTD).

        You can check the T&Cs of these cards on their individual cards page and talk to the card specialist if needed as some rules vary per lender.

        Hope this helps.

        Cheers,
        Jonathan

    2. Default Gravatar
      KKOctober 25, 2016

      Hi,
      I am existing NAB Credit Card holder.
      Can I apply for 0% balance transfer on my existing credit card?

      Thanks

    3. Default Gravatar
      gerySeptember 22, 2014

      I am trying to locate the web page for Nab,that leads to the application for Balance transfer for the existing premium card holders.The offer is 0% for 15 months.
      I was able to locate the page about 4-5 days ago.But I do not remember the web link on it. If a call Nab it takes over 30 minutes before you can get someone on the other side.

      • Avatarfinder Customer Care
        ShirleySeptember 23, 2014Staff

        Hi Gery,

        Thanks for your question.

        You may consider applying for the NAB Low Fee Platinum Card. I think this may be the offer you’re looking for.

        Cheers,
        Shirley

      • Default Gravatar
        AzzMarch 28, 2016

        That looks like a page that you can apply for if your not a customer or you want to apply for a new card. What about a link to transfer a debt for a credit card to an existing credit card NAB credit card?

      • Avatarfinder Customer Care
        DebbieMarch 31, 2016Staff

        Hi Azz,

        Thanks for your inquiry.

        It is helpful to know that you cannot do a balance transfer between credit cards under the same bank, but you also can’t transfer debts with different credit card companies that have financial ties to one another.

        You will find a guide on which financial institutions you can and can’t transfer your balance between.I suggest you to read the balance transfer terms and conditions to ensure your eligibility before you apply.

        I hope this helps.

        Cheers,
        Debbie

    4. Default Gravatar
      ShaneAugust 9, 2014

      Why can I not get credit approval with a bank that I have been with for years but pre approved with other banks.?. Do I have to change banks because the bank I’m with don’t look after me.?.

      • Default Gravatar
        ShaneAugust 11, 2014

        So much for looking after loyal customers,

      • Avatarfinder Customer Care
        ShirleyAugust 11, 2014Staff

        Hi Shane,

        Thanks for your question.

        The decision is completely up to you. If you feel as though you’re getting a better deal or service from another bank, there is no harm in switching.

        All the best,
        Shirley

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