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Balance transfer limit

You can usually transfer a maximum of 80% to 100% of your approved credit limit, depending on the card – compare offers and details here.

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1 - 10 of 109
Name Purchase rate p.a. Annual fee Balance transfer rate p.a. Amount Saved
St.George Vertigo Card
St.George Vertigo Card image
Purchase rate p.a.
13.99%
Annual fee
$55
Balance transfer rate p.a.
0% for 28 months with 1% balance transfer fee, then 21.49%
$1,780.59 over 28 months
Go to siteMore Info
Get a 0% p.a. interest rate on balance transfers for 28 months (with a 1% balance transfer fee).
Westpac Low Rate Card
Westpac Low Rate Card image
Purchase rate p.a.
13.74%
Annual fee
$59
Balance transfer rate p.a.
0% for 28 months with 2% balance transfer fee, then 21.49%
$1,768.59 over 28 months
Go to siteMore Info
Save with a 0% p.a. interest rate on balance transfers for 28 months (with a 2% BT fee). Plus, a low 13.74% p.a. purchase interest rate.
NAB Low Rate Credit Card
NAB Low Rate Credit Card image
Purchase rate p.a.
13.49%
Annual fee
$0 first year ($59 after)
Balance transfer rate p.a.
0% for 28 months with 2% balance transfer fee, then 21.74%
$1,768.59 over 28 months
Go to siteMore Info
Get a 0% p.a. interest rate on balance transfers for the first 28 months (with a 2% BT fee). Plus, save with a $0 first-year annual fee.
Kogan Money Card – Exclusive Offer
Kogan Money Card – Exclusive Offer image
Exclusive
Kogan Rewards Program
Purchase rate p.a.
9.99% for 18 months, then 20.99%
Annual fee
$0
Balance transfer rate p.a.
0% for 18 months with 2% balance transfer fee, then 21.74%
$1,335.99 over 18 months
Go to siteMore Info
Save with 0% p.a. interest on balance transfers (with a 2% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
Qantas Premier Platinum
Qantas Premier Platinum image
Qantas Frequent Flyer
Purchase rate p.a.
19.99%
Annual fee
$349 first year ($399 after)
Balance transfer rate p.a.
0% for 12 months with 2% balance transfer fee, then 21.99%
$578.32 over 12 months
Go to siteMore Info
Earn up to 100,000 bonus Qantas Points. Plus, save with a reduced first-year annual fee and 0% p.a. for 12 months on balance transfers, with a 2% BT fee.
Qantas Premier Everyday
Qantas Premier Everyday image
Qantas Frequent Flyer
Purchase rate p.a.
19.99%
Annual fee
$99
Balance transfer rate p.a.
0% for 12 months with 2% balance transfer fee, then 21.99%
$828.32 over 12 months
Go to siteMore Info
Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.
St.George Amplify Signature
St.George Amplify Signature image
Amplify Rewards
Purchase rate p.a.
19.49%
Annual fee
$199 first year ($295 after)
Balance transfer rate p.a.
0% for 24 months with 1% balance transfer fee, then 21.49%
$1,217.89 over 24 months
Go to siteMore Info
150,000 bonus Amplify Points (worth $675 in gift cards) when you spend $12,000 in the first 12 months. Plus, a first-year annual fee discount.
St.George Vertigo Card - Cashback Offer
St.George Vertigo Card - Cashback Offer image
Purchase rate p.a.
13.99%
Annual fee
$55
Balance transfer rate p.a.
6.99% for 12 months, then 21.49%
$562.66 over 12 months
Go to siteMore Info
Get up to $400 cashback at eligible supermarkets and petrol stations in the first 180 days. Plus, a low interest rate for purchases.
Citi Premier Card - Cashback Offer
Citi Premier Card - Cashback Offer image
Citi Rewards Program
Purchase rate p.a.
21.49%
Annual fee
$300
Balance transfer rate p.a.
0% for 6 months, then 22.24%
$183.02 over 6 months
More Info
Receive $600 cashback when you spend $2,000 through Apple Pay, Google Pay or Samsung Pay in the first 3 months.
Credit Union SA Education Community Credit Card
Credit Union SA Education Community Credit Card image
Purchase rate p.a.
0% for 6 months, then 11.49%
Annual fee
$0
Balance transfer rate p.a.
0% for 6 months, then 11.49%
$483.02 over 6 months
More Info
Save with an ongoing $0 annual fee and 0% p.a. interest on purchases, balance transfers and cash advances.
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What is a balance transfer limit?

A balance transfer limit is the minimum and maximum amount you can move onto a new credit card with a 0% balance transfer offer. The minimum balance transfer limit is typically around $200 to $500 and the maximum is based on your new card's approved credit limit.

Usually, you can transfer between 80% and 100% of the new card's approved credit limit, although this varies between card issuers. For example, if a card allows you to transfer 80% of your credit limit and you're approved for a $10,000 limit, you'd be able to balance transfer $8,000 worth of debt.

How do balance transfer limits affect me?

Put simply, you won't know exactly how much you can balance transfer until after you have applied and been approved for a new balance transfer credit card – because you need to know what credit limit you've been approved for on that card.

If you're transferring debts from more than one account, you need to make sure that the combined debt doesn't exceed this balance transfer limit. Otherwise, the bank may only transfer the maximum amount of debt, which could leave you with a balance on your old account.

How much can I balance transfer?

The table below shows balance transfer limits offered by different financial institutions when you apply for a balance transfer credit card. You'll also find details on credit card review pages, as well as in the fine print for the balance transfer offer.

Bank

Balance transfer limits

ANZMinimum balance transfer limit of $100 and a maximum balance transfer limit up to 95% of your credit limit.
BankSABalance transfer as little as $200 and up to 80% of your credit limit with BankSA.
BankwestYou can use up to 95% towards a balance transfer with Bankwest.
Bank of MelbourneYou can balance transfer a minimum of $200 and up to 80% of your credit limit with Bank of Melbourne.
Bank of QueenslandYou can balance transfer up to 80% of your approved credit limit.
CitiYou can transfer a minimum of $500 and up to 80% of your approved credit limit.
Coles MastercardYou can transfer up to a maximum of 80% of your approved credit limit to a Coles credit card.
Community First BankBalance transfers to Community First credit cards start at $500 and are capped at your Community First credit card credit limit.
HSBCYou can transfer up to 90% of your credit limit.
Kogan MoneyFrom $500 up to 80% of your available credit limit.
MEYou can transfer up to $100 less than your available credit limit.
NABNAB's minimum balance transfer limit is $200. NAB's maximum balance transfer limit is up to 90% of your approved credit limit if the request is made within the first 30 days from account opening, and up to 100% of your approved credit limit if the request is made after 30 days.
St.GeorgeSt.George's minimum balance transfer is limit $200 and maximum balance transfer limit is up to 80% of your credit limit.
Suncorp BankYou can transfer up to 80% of your approved credit limit.
WestpacWestpac lets you to use from $200 up to 80% of your credit card limit towards a balance transfer.

Remember: As well as the size of your debt, you may need to meet income requirements and have a good credit score to be approved. Before you apply, you can get your free credit report through Finder.

Finder survey: Were Australians able to transfer the full amount they wanted to onto their balance transfer credit card?

Response
Yes87.26%
No12.74%
Source: Finder survey by Pure Profile of 1113 Australians, December 2023

Can my balance transfer be higher than my credit limit?

No, your balance transfer must always be less than or equal to the approved credit limit for the new card. It could be lower than that, depending on the maximum balance transfer limit, along with lending criteria and assessment for your application.

What happens if I am approved for a credit limit that is worth less than the debt I want to transfer?

There are four main options you can consider if your balance transfer debt is higher than the credit limit you're approved for on a new card:

  1. Cancel the application. If you haven't received or activated the card, you can call the issuer and ask them to cancel the application. There should not be any charge for this.
  2. Cancel the card. You can cancel your new card at any time after it's been activated. But make sure you do this before the balance transfer has been processed. Also note that if the card charges an annual fee, you may need to pay it before the account can be closed.
  3. Go ahead with the transfer. If you've got a balance transfer credit card with a competitive introductory 0% interest offer, then you may still want to use it to pay down whatever debt can be moved to the card. Just remember to budget for repayments on your existing card and, if possible, aim to pay off the debt that's still being charged interest first to help keep your costs down.
  4. Consider a personal loan to pay off some or all of your debt instead. If a balance transfer credit card does not cover your entire debt, you could look at getting a personal loan to cover the debt that is left over on your original credit card, or as an alternative option for consolidating all your debt. As personal loans typically offer lower standard interest rates than most credit cards, this could help you save on interest charges that would apply to your existing card's balance.

Example: Is getting a partial balance transfer worth it?

Say you owe $5,000 on a credit card with an interest rate of 19.99% p.a. and can afford to pay $400 off it per month. If you stuck with this card as it is, it would take 15 months to pay off the debt and cost you $653.35 in interest.

Let's also say you're approved for a balance transfer credit card offering 0% p.a. for 18 months but can only transfer $3,000. If you went ahead with the transfer, you could split up your $400 payment between the cards to help save on interest.

For instance, if you paid $300 per month off the card with the $2,000 debt and interest rate of 19.99% p.a., it would take around 8 months to clear the debt and cost you $137.91 in interest. During this time, you'd also be paying $100 per month off your new balance transfer card's debt. So after 8 months, the balance on that card would be $2,200 and you'd still have 10 months of the 0% interest rate.

If you then continued to pay $400 per month on the debt, it would take you 6 more monthly repayments to clear the debt. So in this scenario, you'd enjoy a 0% p.a. interest rate on your $3,000 balance transfer for the whole time before you paid it off.

Even if you aren't approved for the full $5,000 balance transfer, transferring the $3,000 you're eligible to transfer to a new 0% p.a. card saves you $515.44 in interest and you'd be out of debt one month sooner.

Finder survey: Were Australians able to transfer the full amount they wanted to onto their balance transfer credit card?

Response
Yes87.26%
No12.74%
Source: Finder survey by Pure Profile of 1113 Australians, December 2023

What else should I think about?

Keep the following factors in mind when you're comparing credit cards or applying for a balance transfer, so you can find an option that suits your needs.

Income and employment

Credit card issuers use details of your income and employment to help determine your credit limit. By law, they can only approve you for a credit limit that you could afford to reasonably pay off, with interest, over a three-year period. This means that if you earn a low income, work casually or part-time or have recently changed jobs, you may be approved for a lower credit limit than if you were working full-time.

However, it is less about the absolute numbers and more about how your income compares to your expenses. When you apply for a credit card, you will have to provide details of all of your sources of income as well as your expenses (rent or mortgage payments, childcare, groceries). If you're spending the majority of what you earn (or more), it will be looked upon less favourably than if you were saving every month.

Minimum credit limits

Just as there is usually a minimum balance transfer amount, issuers will list a minimum credit limit for different cards. While this could be as low as $500 on some credit cards, there is also a range of credit cards that offer high minimum credit limits of say $6,000 or $15,000 (subject to approval). If you have a lot of debt, you could look for balance transfer offers on one of these cards. Just make sure you compare the card's features and meet the application requirements before you apply because these cards also typically require high minimum incomes.

Credit history

When you apply for a credit card, lenders review your credit report. You're unlikely to be approved for a credit card if you have a low credit score, but your credit history (and existing debts) is something the bank will consider when determining your credit limit. This includes existing credit cards or loans and your current credit limits.

How much credit you're already accessing could also impact the credit limit you're approved for on your new balance transfer card. You can get a free copy of your credit report and credit score through Finder to see what details are listed and how they could impact your application.

Balance transfers for existing customers

If you want to consolidate debt with a credit card you already use, you may be able to get a balance transfer offer as an existing customer. But the terms of these offers vary – including balance transfer limits.

For example, existing NAB credit card customers can request a balance transfer worth up to 100% of their available credit limit (minus any applicable annual fee or balance transfer fee). This also applies for NAB credit card customers who have opened their account in the last 30 days. In comparison, Westpac balance transfers for existing customers have the same balance transfer limits as new customers but may have different promotional balance transfer rates to those offered to new customers.

Ready to pay off debt? Compare 0% balance transfer credit cards and get insights into how much you can save.

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10 Responses

    Default Gravatar
    KimJanuary 19, 2019

    I have been approved for a balance transfer credit card. They have advised me that they will transfer the full amount of my credit card limit in the next 2-3 working days. While I have been waiting on this approval I had to make a minimum payment to the existing credit card. With the minimum payment now applied the balance owing on the existing credit card is now less than the amount that my new credit card will be transferring. My question is what happens to that difference in balances? For example, if my existing credit card limit was $5000 and the new credit card will be transferring the balance of $5000 but I made the payment of $200 to the existing credit card. The true owing balance to the existing credit card is now $4800 (not counting interest fees). My new credit card provider has said that they will still transfer the full $5000. Therefore what happens to the $200 that I had to pay as a minimum payment to my existing credit card?

      AvatarFinder
      JeniJanuary 22, 2019Finder

      Hi Kim,

      Thank you for getting in touch with finder.

      You may discuss the amount you’ve paid with your existing credit card issuer if becomes an over payment. As you know, if the balance transfer amount has not been completed then you have to pay your minimum repayment on or before the due date with your existing credit card issuer to prevent missed/late payment.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    AleasheaDecember 27, 2018

    I’m on centerlink benefits I’m looking for a credit card that we’re I’m not paying alot back but have a minimum card useage of 1000. Thanks

      AvatarFinder
      JohnDecember 27, 2018Finder

      Hi Aleashea,

      Thank you for reaching out to Finder.

      Our credit cards for pensioners and retirees guide is the best page to read through to check out your options and also to get more insights on how it works. You can compare low-cost credit cards to see the credit card brands you could consider. You can click on ‘More info’ to be rerouted to our review page to check the credit card details, eligibility, pros and cons, and fees. If this is the type of credit card you’re looking for, simply click on the ‘Go to site’ once you are ready to apply to be redirected to the card’s website.

      Hope this helps!

      Cheers,
      Reggie

    Default Gravatar
    JazzSeptember 30, 2015

    Hi
    Not sure if my last question came thru but basically, what happens if you pay off your balance transfer quicker than 14months etc?

    Also, is it possible to do another balance transfer from the same card? Obviously with a different bank.
    Or is that a bad idea..

    Thanks

      AvatarFinder
      JonathanSeptember 30, 2015Finder

      Hi Jazz, thanks for your question.

      If your balance transfer debt is repaid then you can use the credit card as normal. If you meet the eligibility requirements for the next bank/ card you are applying for then you can request a balance transfer to pay less interest.

      Cheers,

      Jonathan

    Default Gravatar
    JazzSeptember 24, 2015

    Hi,
    I have been accepted for a st George vertigo card, however my credit limit is very low.
    Would it be best to amend the amount to transfer rather than cancelling the card? Would this help credit limits or do Banks just stick to initial credit limit.

    Also, if I cancel this card, how long should I wait before applying or another credit card balance transfer?

    Thank You.

      AvatarFinder
      JonathanSeptember 25, 2015Finder

      Hi Jazz, thanks for your inquiry!

      If the approved credit limit for your St.George Vertigo card is insufficient to transfer all your existing credit card debt, then a credit limit increase can be requested. In regards to applying for another credit card typically it is best to wait at least a few months (4-6 months) before applying for another card.

      Cheers,

      Jonathan

      Default Gravatar
      JazzSeptember 30, 2015

      Hi,
      Another question:

      If the smaller amount of balance transfer is paid off say in couple months time, would it be a bad idea to apply for another credit card for another balance transfer, In the hopes that the credit limit be extended?

      Thank U.

      AvatarFinder
      JonathanSeptember 30, 2015Finder

      Hi Jazz, thanks for your inquiry!

      Credit limits are subject to a bank’s lending criteria who take into account income, liabilities, employment history and credit history. As a result applying for another credit card balance transfer offer will not guarantee a credit limit extension. Frequent credit applications can display negative signals to a bank, so it can be recommended to wait at least a few months before applying for another card.

      Cheers,

      Jonathan

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