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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 July 29th, 2017.

NAB Velocity Rewards Card

A new balance transfer offer of 0% p.a. for 6 months which is valid until 1 October 2017.

June 1st, 2017

Virgin Australia Velocity Flyer Card - Exclusive Offer

0% p.a. for 18 months exclusive balance transfer offer has been extended until 31 July 2017.

June 15th, 2017

Virgin Australia Velocity Flyer Card - 0% Interest Offer

0% purchase and balance transfer offers have been extended until 31 July 2017.

June 15th, 2017

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Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ANZ Platinum Credit Card - Exclusive Offer
Exclusive to finder, receive 0% p.a. interest on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - Exclusive Offer
Apply by 31 July 2017 to receive a long-term, no fee balance transfer and a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
NAB Low Fee Card
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.
19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $30 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points when you meet the spend requirement and earn up to 1 Qantas Point per $1 spent.
19.99% p.a. $199 p.a. Go to site More info
Qantas American Express Discovery Card
Earn Qantas points that can be redeemed for a one way, return or multi-destination Classic Flight Reward on over 50 partner airlines.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
ANZ Low Rate
Receive up to 55 days interest-free on purchases, up to 3 additional cardholders at no cost and Mastercard PayPass.
12.49% p.a. 0% p.a. for 16 months with 2% balance transfer fee $58 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Save with 0% p.a. on purchases for 12 months. Plus, up to 0.66 Velocity Points per $1 spent.
0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. Go to site More info
ANZ Rewards Travel Adventures card
Receive 40,000 bonus Velocity Points when you spend $500 on eligible purchases in the first three months.
20.24% p.a. $225 p.a. Go to site More info
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
13.24% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($55 p.a. thereafter) Go to site More info
St.George Vertigo Platinum
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
12.74% p.a. 0% p.a. for 20 months $99 p.a. Go to site More info
St.George Amplify Platinum
Earn up to 2 Amplify Rewards Points per $1 spent and receive complimentary overseas travel insurance.
19.49% p.a. $99 p.a. Go to site More info
St.George Amplify Signature
Earn up to 3 Amplify Rewards Points per $1 spent and receive two complimentary airport lounge passes per year.
19.49% p.a. $279 p.a. Go to site More info
ANZ Platinum Credit Card
Enjoy platinum card benefits with a 24/7 personal concierge and complimentary overseas travel and medical insurance.
19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
ANZ First Visa Credit Card
Get up to 44 interest-free days on purchases and take advantage of a low minimum credit limit.
19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $30 p.a. Go to site More info
NAB Qantas Rewards Premium Card
A dual Amex and Visa card that earns up to 1 Qantas Point per $1 spent on eligible purchases, plus a 24/7 personal concierge.
19.99% p.a. 0% p.a. for 6 months $250 p.a. Go to site More info
NAB Velocity Rewards Card
This dual Amex and Visa card offers up to 0.75 Velocity Points per $1 spent on eligible purchases and special Visa Entertainment offers.
19.99% p.a. 0% p.a. for 6 months $95 p.a. Go to site More info
NAB Velocity Rewards Premium Card
Offers up to 1 Velocity point per $1 on purchases, combined with complimentary insurance covers and a concierge service.
19.99% p.a. 0% p.a. for 6 months $150 p.a. Go to site More info
NAB flybuys Rewards Card
Earn 1 flybuys point per $1 spent on everyday purchases and receive 7 complimentary insurance covers.
19.99% p.a. 0% p.a. for 6 months $95 p.a. Go to site More info
NAB Qantas Rewards Card
A dual Amex and Visa card that allows you to earn up to 0.75 Qantas Points per $1 spent, plus complimentary purchase protection insurance.
19.99% p.a. 0% p.a. for 6 months $95 p.a. Go to site More info
NAB Low Rate Credit Card
Receive up to 55 days interest-free on purchases, special offers from Visa Entertainment and Tap and Pay capabilities.
13.99% p.a. 0% p.a. for 16 months with 2% balance transfer fee $59 p.a. Go to site More info

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

If you have all the required information close at hand, you should be able to complete the application in around 10 to 15 minutes.

Yes, you can, provided you don’t exceed the balance transfer limit set forth by your new card.

Most credit card providers in Australia don’t allows balances transfers from personal loans, and ones that do include Citi and Virgin Money.

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NAB Premium Card - Exclusive Offer
NAB Premium Card - Exclusive Offer

Interest rate

19.74

Annual fee

90
St.George Vertigo Platinum Credit Card
St.George Vertigo Platinum Credit Card

Interest rate

12.74

Annual fee

99

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12 Responses

  1. Default Gravatar
    NagJuly 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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