High credit limit balance transfer credit cards

Pay off a big debt or consolidate multiple balances with a high limit balance transfer credit card.

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If you have debt across one or multiple credit cards, you can use a balance transfer to pay it off with no interest for a promotional period. But if you’re paying off a large balance, you might need to look for a card with a high credit limit that can accept your debt.

You can use this guide to compare balance transfer cards with high credit limits and understand how they work.

Compare high credit limit balance transfer credit cards

Data indicated here is updated regularly
$
% p.a.
Name Product Balance transfer rate Purchase rate Annual fee Amount saved
Citi Rewards Card
0% p.a. for 30 months
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Save on interest with 0% p.a. on balance transfers for 30 months with no balance transfer fee. Plus, a $49 first-year annual fee.
NAB Qantas Rewards Signature Card
0% p.a. for 6 months with 2% balance transfer fee
19.99% p.a.
$295 annual fee for the first year ($395 p.a. thereafter)
Up to 130,000 bonus Qantas Points (100k when you spend $3,000 in the first 60 days and 30k after 12 months). Plus, a reduced first year annual fee.
St.George Amplify Platinum - Qantas
0% p.a. for 15 months with 1% balance transfer fee
19.74% p.a.
$99
Earn 70,000 bonus Qantas Points, plus enjoy 0% p.a. on balance transfers for 15 months and complimentary insurance covers.
St.George Vertigo Platinum
6.99% p.a. for 12 months
0% p.a. for 15 months, reverts to 12.99% p.a.
$49 annual fee for the first year ($99 p.a. thereafter)
Features an introductory 0% p.a. purchase rate, $49 first year annual fee and complimentary travel insurance covers.
St.George Vertigo Platinum - Cashback Offer
6.99% p.a. for 12 months
12.99% p.a.
$99
Get $300 cashback when you spend at least $900 in the first 90 days. Plus, platinum perks and a low variable interest rate on purchases.
Qantas American Express Ultimate Card
20.74% p.a.
$450
Receive 100,000 bonus Qantas Points and $200 back on your card when you spend $3,000 within the first 3 months. Plus, a yearly $450 Travel Credit.
BankSA Vertigo Platinum - Cashback Offer
6.99% p.a. for 12 months
12.99% p.a.
$99
Enjoy a $300 cashback when you spend at least $900 in the first 90 days. Plus, a low ongoing 12.99% p.a. purchase interest rate.
Bank of Melbourne Vertigo Platinum - Cashback Offer
6.99% p.a. for 12 months
12.99% p.a.
$99
Enjoy $300 cashback when you spend at least $900 in the first 90 days. Plus, a low ongoing 12.99% p.a. purchase interest rate.
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Why is the credit limit important when you’re transferring a balance?

When you’re transferring a balance to a new card, your debt can’t exceed the approved credit limit. Some institutions may also only let you transfer up to a percentage of the credit limit, such as 75% to 90%. For example, if the card has a credit limit of $15,000 and a balance transfer limit of 80%, you could only transfer a debt of up to $12,000.

If the debt you’re transferring is larger than the limit, the remaining amount will stay in your old account and you’ll have to pay it off at the higher interest rate. You’ll also be charged the regular maintenance fees, such as the annual fee, as you clear the account. This is why it’s so important to compare your options and consider how much you can transfer before you apply.

You can see our guide to balance transfer limits to compare how much you can transfer to cards with different financial institutions in Australia.

What else should I consider when I’m comparing a balance transfer credit card?

As well as the credit limit, here are some other factors you should think about before you apply for a balance transfer credit card:

  • The balance transfer offer. You can find 0% balance transfer credit cards that last from 6 to 24 or more months, so it’s important to apply for a card that gives you enough time to clear your debt in full before the revert rate applies.
  • Balance transfer fees. When you transfer your debt, you may be charged a one-time balance transfer fee. This is usually a percentage based fee of 1% to 3%. If you want to avoid this cost, look for a balance transfer card with no balance transfer fee.
  • Annual fee. Make sure that the card’s annual fee doesn’t offset any savings you get from the card. You can also compare balance transfer cards with $0 annual fees to minimise your overall costs.
  • Revert rate. At the end of the promotional period, your balance will start collecting the revert interest rate. This interest rate is usually the standard cash advance or purchase rate, so it’s wise to pay your debt in full before this applies.
  • Eligibility criteria. As well as the balance transfer limit, you'll need to meet other eligibility criteria. For example, you can only transfer debts from different credit issuers (for example, you can't transfer debts from ANZ card to another ANZ card). You may also need to have a good credit score and meet an income requirement to apply. You can check your credit score and report for free on Finder.

How to apply for a balance transfer card with a high credit limit?

Follow these steps to apply for a balance transfer card with a high credit limit:

  1. Compare cards. You can use the comparison table above to compare credit cards with a high credit limit. If you enter your transfer amount and the interest rate you’re currently paying, you can also compare which cards offer you the most savings. Check that you meet the card eligibility requirements before you apply.
  2. Start your application. Once you find a card you like, you can click the ‘Go to site’ button to begin your secure application online. You will be asked to provide a range of details including your full name, residential address, driver’s licence or passport number and employment details.
  3. Include supporting documentation. You’ll also need to provide supporting documents including copies of your driver’s licence, birth certificate, passport, employment contract and payslips.
  4. Provide details for the balance transfer. During your application, you will be asked to provide details of any accounts that you wish to transfer balances from, including the account name and number, financial institution and the total debt you wish to move to the new card. This when you’ll also be asked to request a credit limit, so make sure that it’s enough to support the debt you’re transferring.
  5. Submit the application. If you complete your application and provide all of the necessary information, you should receive a response within 60 seconds of applying.

If you have a big credit card debt to pay down, a balance transfer credit card can help you do so without the burden of interest. As many balance transfer credit cards impose transfer limits, make sure that you compare your options and find a card that supports your debt.

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