Instant Approval Balance Transfer Credit Cards

Get instantly approved for a balance transfer credit card today and start saving money. Compare the offers below and find out how much you can save.

A balance transfer credit card can lead to noticeable savings in the form of interest, especially if you opt for a card that comes with a promotional balance transfer offer. Just how long the approval of your balance transfer request takes and how long the actual transfer takes can vary from one credit card to the next, though some offer instant approval.

Instant Approval Balance Transfer Credit Cards Comparison

Rates last updated December 11th, 2017
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
ANZ Platinum Credit Card - Exclusive Offer
0% p.a. for 12 months
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Exclusive to finder, get 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Ends 17 December 2017.
St.George Vertigo Platinum - Online Offer
0% p.a. for 24 months
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits plus 0% p.a. for 24 months on balance transfers (with no BT fee) and $0 annual fee in the first year. Ends 13 December 2017.
Westpac Low Rate Card - Online Only Balance Transfer Offer
0% p.a. for 24 months with 2% balance transfer fee
13.49% p.a.
$59 p.a.
Take advantage of 0% p.a. for 24 months on balance transfers with a 2% balance transfer fee when you apply online by 31 January 2018.
NAB Low Fee Card
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 16 month balance transfer offer and special offers from Visa Entertainment.
HSBC Platinum Qantas Credit Card
0% p.a. for 12 months
19.99% p.a.
$199 p.a.
Receive 60,000 bonus Qantas Points when you spend $3,000 within 3 months of card approval and enjoy complimentary travel insurance.
Qantas American Express Discovery Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Earn uncapped Qantas Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
ANZ Low Rate
12.49% p.a.
$58 p.a.
Receive $100 back to your new ANZ Low Rate when you spend at least $500 on eligible purchases within the first 60 days from card approval.
St.George Vertigo Visa - Online Offer
0% p.a. for 18 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Take advantage of 0% p.a. for 18 months on balance transfers (with no BT fee). Plus, $0 annual fee in the first year. Ends 13 December 2017.
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.
Save with 0% p.a. on purchases for 14 months and 0% p.a. on balance transfers for 6 months. Plus, earn up to 0.66 Velocity Points per $1 spent.
ANZ Rewards Travel Adventures card
20.24% p.a.
$225 p.a.
Receive 40,000 bonus Velocity Points (when you meet the spend criteria), 2 yearly Virgin Australia lounge passes, plus enjoy paying a $0 overseas transaction fee on purchases.
St.George Amplify Platinum
19.49% p.a.
$99 p.a.
Receive 60,000 bonus Amplify or Qantas Points when you spend $3,000 within 90 days and earn up to 1.00 Amplify point per $1 spent.
St.George Amplify Signature
19.49% p.a.
$279 p.a.
Receive 90,000 bonus Amplify or Qantas Points when you spend $5,000 within 90 days and earn up to 1.50 Amplify points per $1 spent.
ANZ Platinum Credit Card
0% p.a. for 16 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 16 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
Westpac 55 Day Platinum Credit Card
0% p.a. for 20 months with 2% balance transfer fee
19.84% p.a.
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
Receive a 20 month balance transfer offer, up to 55 days interest-free on purchases, a platinum concierge service and a $0 first year annual fee.
ANZ First Visa Credit Card
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Get up to 16 months interest-free on balance transfers and save with a low $30 annual fee. Plus, up to 44 days interest-free on purchases.
NAB Qantas Rewards Premium Card
4.99% p.a. for 6 months
19.99% p.a.
$250 p.a.
Offers 25,000 bonus points when you meet the spend requirements and Qantas Points for your everyday spending. Plus a 24/7 personal concierge.
NAB Velocity Rewards Card
4.99% p.a. for 6 months
19.99% p.a.
$95 p.a.
This Visa card offers 0.5 Velocity Points per $1 spent on eligible purchases, up to 44 interest-free days on purchases and Visa Entertainment offers.
NAB Velocity Rewards Premium Card
4.99% p.a. for 6 months
19.99% p.a.
$150 p.a.
Offers up to 0.66 Velocity Points per $1 spent on purchases, combined with complimentary insurance covers and a concierge service.
NAB Qantas Rewards Card
4.99% p.a. for 6 months
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 days interest-free on purchases.
NAB Low Rate Credit Card
4.99% p.a. for 6 months
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.
NAB Rewards Classic Card
0% p.a. for 6 months
19.99% p.a.
$95 p.a.
Receive 0.75 NAB Rewards Points per $1 spent and complimentary purchase protection insurance. Plus, a 0% p.a. for 6 months balance transfer offer.
NAB Rewards Platinum Card
0% p.a. for 6 months
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.
ANZ First Student Card
19.74% p.a.
$0 p.a. annual fee for the first year ($30 p.a. thereafter)
An ideal, low limit credit card for full-time tertiary students with up to 44 days interest-free on purchases and a $0 annual fee for the first year.

Compare up to 4 providers

What is an instant balance transfer credit card?

A number of credit card providers give new credit card applicants the ability to find out about the status of their balance transfer request instantly. Instantly, in this case, means you can expect a response soon after you hit the ‘submit’ button on your online application.

Credit cards with balance transfer offers charge little to no interest on transferred balances for a given time period, which commonly varies in between six and 12 months. Some cards that don’t come with promotional balance transfer offers still allow you to transfer balances from other cards, and you can benefit through such a card if the new card’s interest is noticeably lower than that of your existing cards.

What can I expect when applying for an instant approval balance transfer credit card?

Since you find out about your balance transfer application’s status immediately, you might not get much time to go through the nitty-gritty of your new card and its balance transfer offer. As a result, it is important that you consider the following from the get-go.

Is the decision really instant?

Don’t expect instant to mean split-second. The decision, though, is rather quick, and you can expect a response in less than a minute. Bear in mind that while approval is instant, the actual transfer takes longer.

What can I do to increase my chances of approval?

Make sure you meet all the eligibility requirements for the new card, and pay particular attention to its minimum income requirement. Prepare to part with all the required documentation to support your credit card application, and provide all relevant details of the accounts from which you wish to transfer balances.

As the decision is instant, does that mean I can apply for multiple cards?

Applying for multiple credit cards at around the same time is never a good idea, as this reflects poorly on your credit file, and might result in problems when it comes to getting credit in the future. If multiple card providers approve your applications, you might end up giving into the temptation of spending more than you can afford to repay, which can lead to hard-to-repay debt.

Are instant approval balance transfer credit cards suited to me?

If you’re looking for a quick response, applying for such a card can work well for you. Remember, though, that not all balance transfer credit cards offer instant approval, so you end up limiting your choices.

How long until everything is finalised?

While you can expect to find out about your credit card and balance transfer application straightaway, transferring balances from your existing cards to the new card can sometimes take up to two weeks. This is because of the required formalities the process entails.

What else should I consider when applying for an instant approval balance transfer credit card?

Before you apply for an instant approval balance transfer card make sure you consider the following as well:

  • Is there a promotional offer? A number of credit cards come with promotional balances transfer offers, and while some such cards charge low interest on balance transfers, some others charge 0% p.a. Don’t forget that these promotional periods expire after a given period of time, after which any outstanding balance starts attracting interest.
  • What is the revert rate? At the end of the promotional period, outstanding balances from balance transfers can start attracting the card’s cash advance rate or its purchase rate. In most instances, the cash advance rate is considerably higher than the purchase rate.
  • How much can I transfer? Just how much you can transfer onto your new credit card depends on the card you get. While some cards allow you to transfer up to 80% of your card’s credit limit, some others limit this to 50% of your card’s limit.

You can look forward to noticeable savings in a relatively short span of time by getting an instant approval balance transfer credit card, but given the alternatives on offer, you'll want to compare a few before deciding which one to choose.

Frequently asked questions

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12 Responses

  1. Default Gravatar
    NagendraJuly 24, 2015

    Hi I have 15,000 personal loan with CommBank I want to do balance transfer with any credit card. Please give me advice on this topic.

    • Staff
      JonathanJuly 27, 2015Staff

      Hi Nag, thanks for your inquiry!

      Please refer to this page for more information on transferring a balance from a personal loan to a credit card.

      Cheers,

      Jonathan

  2. Default Gravatar
    sadieApril 23, 2015

    Hi, Im a non resident of Australia, i have been here nearly 3 years and have a visa with my partner (also non resident)till 2018 when we will become permanent residents. We currently have a comm bank credit card the limit is 15,000. Can we get a balance transfer to a card with out interest?
    Sadie

  3. Default Gravatar
    HaMarch 3, 2015

    Hi,

    Im non resident, my income is about 35000 pa. I have credit card of 7000 from commonwealth, which bank can approve balance transfer for me?

    • Staff
      JonathanMarch 4, 2015Staff

      Hi Ha Le, thanks for your inquiry!

      Unfortunately banks require Australian permanent residency or citizenship. For a list of credit cards for temporary residents please see this page.

      Cheers,

      Jonathan

  4. Default Gravatar
    GarryOctober 27, 2014

    i have an anz credit debit of 17500.00 and i earn $4800.00 a month will i still be able to do a balance transfer to another bank and which bank will except my application

    • Staff
      ElizabethOctober 28, 2014Staff

      Hi Garry,

      Thanks for your question.

      Being approved for a balance transfer credit card depends on a number of factors, including your credit history, any other debts you may have, as well as your income, etc. As it’s a large amount you want to transfer it might be worth getting in touch with a bank before you apply to see your chances of being approved, as well as to ensure you’ll be approved for a sufficient credit limit to bring you existing balance across.

      I hope this has helped.

      Thanks,

      Elizabeth

  5. Default Gravatar
    PhilApril 9, 2013

    Are there any balance transfers available that will pay off a bank overdraft account?

    • Staff
      JacobApril 9, 2013Staff

      Hi Phil. Thanks for your question. You may want to consider Citibank or Virgin, they allow the transfer from personal loans and lines-of-credit to their credit cards and credit accounts. Jacob.

  6. Default Gravatar
    JoyApril 5, 2013

    what happens to the old cards when balance it transferred does the bank cancel them or do we?

    • Staff
      JacobApril 5, 2013Staff

      Hi Joy. Thanks for the question. After you carry out a balance transfer from one card to another, the old card remains open and active. If you want to close the old account, it’s your responsibility to do so. You can do this any time, free of charge, provided that the balance of the card has been paid in full. Jacob.

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