balance-transfer-revert-rate

What rate does my balance transfer revert to?

Balance transfers can be a useful debt consolidation strategy, but what happens when the promotional offer ends and the revert rate kicks in?

If you're carrying a debt that's collecting high interest, a balance transfer credit card with a promotional offer can be a great way to repay your debt without the cost of interest. But like all good things, the promotional offer can't last forever and a revert rate will eventually kick in. The revert rate refers to the standard balance transfer rate, which is usually the cash advance or purchase interest rate, that you'll have to pay on your remaining balance once the introductory offer ends.

When will I have to pay the revert rate?

If your balance transfer credit card comes with a promotional offer the 0% or low interest on balance transfers will only be available for a set period of time (usually between 6 to 24 months, depending on the card and offer). Once this promotional offer ends, you'll be required to pay the revert rate. This will either be the standard interest rate on purchases or cash advances and will most likely be much higher than the promotional offer. The cash advance rate is generally higher than the standard rate on purchases. If you can, always try to repay your balance before the revert rate kicks in to avoid expanding your remaining debt with high interest rates.

Always make sure to check what the revert rate is and when it will kick in before applying for a balance transfer credit card. You can find this information within the Product Disclosure Statement relevant to your card. Once you've worked this out, consider how much debt you have, the length of the promotional offer and how much you'll have to pay to consolidate the entire debt before the revert rate rolls in.

What do different

Credit Card IssuersReverts back toMaximum Balance Transfer AmountMinimum Balance Transfer Amount
American ExpressPurchase rateUp to 50% of your credit limit capped at a maximum of $7,500n/a
ANZStandard balance transfer rate95% of the approved credit limit$100
Bank of Melbourne95% of the approved credit limit$200
Bank of QueenslandCash advance rate80% of your credit limit$500
Bank SA95% of the available credit limit your new BankSA credit card$200
BankwestStandard balance transfer rate95% of the approved credit limit$500
CBACash advance rate90% of the approved credit limit$500
CitiCash advance rateYou can transfer up to 80% of your approved credit limit$500
ColesPurchase rateNo limit - but must meet criteriaNo minimum - but must meet criteria
Community FirstPurchase rateAll or part of the outstanding balance and/or limit of your existing credit card$500
CUACash advance rate80% of your credit limit$500
HSBCCash advance rateUp to available credit limit on HSBC card$500
Macquarie BankPurchase rateSubject to your available credit limit$500
NABCash advance rateMaximum balance transfer of 70% of the approved credit limit. For example, if you had a $1,000 credit limit on your new card, you'd be able to transfer a maximum of $700 from another credit card.$200
St.George95% of the approved credit limit$200
SuncorpCash advance rateSubject to lending criteria$500
VirginCash advance rate80% of the approved credit limit$500
WestpacCash advance or purchase (on selected cards) rate95% of the approved credit limit$200

Balance transfer credit cards that revert to:

Rates last updated June 23rd, 2017
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Product Description Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
American Express Essential®  Credit Card
Get Smartphone Screen Insurance of up to $500 when you pay for your phone or contract with your Essential Credit Card.
0% p.a. for 12 months with 1% balance transfer fee
14.99% p.a.
$0 p.a.
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.
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
American Express Platinum Edge Credit Card
Receive a $200 Travel Credit every year and complimentary domestic and international travel insurance.
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a. annual fee for the first year ($195 p.a. thereafter)
Bankwest Breeze Mastercard
Receive up to 55 day interest-free on purchases and free worldwide emergency card replacement.
0% p.a. for 21 months with 2% balance transfer fee
12.99% p.a.
$59 p.a.
American Express Velocity Platinum Card
Receive a complimentary Virgin Australia return Economy domestic flight each anniversary year and complimentary travel insurance.
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$375 p.a.
Qantas American Express Ultimate Card
Receive a complimentary Qantas domestic return flight and 2 American Express Airport Lounge entries each calendar year.
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$450 p.a.
American Express Explorer® Credit Card
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Bank of Melbourne Vertigo Visa Credit Card
Receive up to 55 days interest-free on purchases and the protection of Verified by Visa online purchases.
0% p.a. for 14 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Bank of Melbourne Vertigo Platinum
Get a range of complimentary insurance covers, access to a 24/7 concierge and up to 55 days interest-free on purchases.
0% p.a. for 20 months
12.74% p.a.
$99 p.a.
BankSA Vertigo Visa
Get up to 55 days interest-free on purchases and be protected by 24/7 Falcon® Fraud service.
0% p.a. for 14 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
St.George Vertigo Visa
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
0% p.a. for 14 months
13.24% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
St.George Vertigo Platinum
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
0% p.a. for 20 months
12.74% p.a.
$99 p.a.
BankSA Vertigo Platinum
Take advantage of purchase protection, extended warranty and overseas travel insurance, plus a 24/7 concierge.
0% p.a. for 14 months
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)

Compare up to 4 providers

Rates last updated June 23rd, 2017
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Product Description Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 of eligible spend and receive complimentary travel and purchase protection insurances.
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$99 p.a.
Virgin Australia Velocity Flyer Card - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent in the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
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 6 months
0% p.a. for 12 months (reverts to 20.74% p.a.)
$129 p.a.
NAB Low Fee Card
Receive complimentary purchase protection insurance, special offers from Visa Entertainment and up to 44 days interest-free on purchases.
0% p.a. for 16 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Take off sooner with up to 1 Velocity Point per $1 spent and earn up to 30,000 bonus Velocity Points. Plus, complimentary travel insurance.
1.9% p.a. for 15 months
20.74% p.a.
$144 p.a. annual fee for the first year ($289 p.a. thereafter)
Emirates Citi World Mastercard
Earn up to 1.5 Skywards Miles for every $1 spent and indulge in carefully curated local and global experiences.
0% p.a. for 9 months
20.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Citi Rewards Platinum Credit Card
Earn Reward Points per $1 spent as part of the Citi Rewards Program, plus receive complimentary international travel insurance.
0% p.a. for 24 months with 1.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Citi Simplicity Card
Earn 10% cashback on eligible purchases (capped at $50 per month) for the first 4 months from card approval.
0% p.a. for 6 months
19.99% p.a.
$0 p.a.
Citi Rewards Classic Credit Card
Receive 1 point per $1 spent on all eligible Domestic Spend (up to $5,000 per period) and membership to the Citibank Dining Program.
0% p.a. for 15 months with 1.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
NAB Premium Card
Offers 7 complimentary insurance covers, access to a 24/7 concierge service and special offers through Visa Entertainment.
0% p.a. for 20 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
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.
0% p.a. for 6 months
19.99% p.a.
$95 p.a.
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.
0% p.a. for 6 months
19.99% p.a.
$95 p.a.
NAB flybuys Rewards Card
Earn 1 flybuys point per $1 spent on everyday purchases and receive 7 complimentary insurance covers.
0% p.a. for 6 months
19.99% p.a.
$95 p.a.
NAB Velocity Rewards Premium Card
Offers up to 1 Velocity point per $1 on purchases, combined with complimentary insurance covers and a concierge service.
0% p.a. for 6 months
19.99% p.a.
$150 p.a.
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.
0% p.a. for 6 months
19.99% p.a.
$250 p.a.
NAB Low Rate Credit Card
Receive up to 55 days interest-free on purchases, special offers from Visa Entertainment and Tap and Pay capabilities.
0% p.a. for 16 months with 2% balance transfer fee
13.99% p.a.
$59 p.a.
Virgin Money Low Rate Credit Card
Receive up to 44 days interest-free on purchases and the optional insurance coverage of CreditShield Edge.
0% p.a. for 12 months
11.99% p.a.
$99 p.a.
NAB Rewards Classic Card
Earn 0.75 NAB Rewards Points per $1 spent and receive complimentary purchase protection insurance.
0% p.a. for 6 months
19.99% p.a.
$95 p.a.
NAB Rewards Platinum Card
Collect 50,000 bonus points when you spend $2,500 on everyday purchases within 60 days of account opening.
0% p.a. for 6 months
19.99% p.a.
$195 p.a.
Woolworths Everyday Platinum Credit Card
Receive a $100 eGift Card when you apply by 30 June 2017 and make an eligible purchase by 31 July 2017.
0% p.a. for 14 months
19.99% p.a.
$0 p.a. annual fee for the first year ($49 p.a. thereafter)

Compare up to 4 providers

Balance transfers can be an efficient debt consolidation strategy, but you'll want to make sure you've repaid your entire debt before the revert rate comes up to bite you. Before applying for the credit card, confirm what the revert rate is and follow a budget to ensure you repay your entire balance before the revert rate applies.

Shirley Liu

Shirley is finder.com.au's publisher for banking and investments. She has completed a Masters in Commerce (Finance) and is the author of hundreds of articles. She is passionate about helping Aussies make an informed decision, save money and find the best deal for their needs.

Was this content helpful to you? No  Yes

Related Posts

American Express Velocity Platinum Card
American Express Velocity Platinum Card

Interest rate

20.74

Annual fee

375
ANZ Platinum Credit Card - Exclusive Offer
ANZ Platinum Credit Card - Exclusive Offer

Interest rate

19.74

Annual fee

87
St.George Vertigo Platinum
St.George Vertigo Platinum

Interest rate

12.74

Annual fee

99

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

10 Responses to What rate does my balance transfer revert to?

  1. Default Gravatar
    maria | February 23, 2016

    can i receive an international transfer from overseas into my credit card

    • Staff
      Jonathan | February 23, 2016

      Hi Maria, thanks for your inquiry!

      Generally money transfers to credit card accounts are permitted. It would be best to double check with your card issuer in case so the transfer does not bounce back.

      Cheers,

      Jonathan

  2. Default Gravatar
    Samantha | April 15, 2014

    Are there any cards out there with no credit checks with over drafts or cash advances that people on Centrelink can apply for instant approval?

    • Staff
      Jacob | April 15, 2014

      Hi, Samantha.

      Thanks for your question.

      Everybody who applies for a credit card must undergo a credit check as part of the application process. It’s also a requirement that the applicant has a good credit rating.

      Have a look at our page on your credit file for information about ordering a copy of your credit report.

      Having said this, people on Centrelink benefits can still apply for a credit card, the important thing is that the applicant meets the minimum eligibility requirements, you can find these criteria set out at the bottom of our review and application pages.

      I hope this helps.

  3. Default Gravatar
    Renee | July 15, 2013

    I noted that with an ANZ balance transfer you are only able to transfer 95% of the approved credit limit of you old card. What happens if your balance on that card is just over 95%? Can it still be approved for transfer of 95% of it? Or does the balance need to be less than that so the old card/account can be closed after the balance transfer has been processed?

    • Staff
      Jacob | July 15, 2013

      Hi Renee. Thanks for your question. Yes, ANZ will only allow you to transfer up to 95% of your approved credit limit. If you still have funds on your old card, that’s O.K. You don’t need to close your old account to carry out a balance transfer. I hope this helps. Jacob.

    • Default Gravatar
      Renee | July 15, 2013

      Thanks Jacob. Would it assist my application if I was to elect to close my old card account though?

    • Staff
      Jacob | July 15, 2013

      Hi Renee. I’m unaware whether electing to close your old credit card will have any bearing on your application. I am inclined to say no as most credit card applications do not ask for this information. I hope this helps. Jacob.

  4. Default Gravatar
    Josh | June 3, 2013

    Why are cash advance rates and balance transfer rates different to normal rates?

    • Staff
      Jacob | June 3, 2013

      Hi Josh. Thanks for your question. There are number of different interest rates you will get charged when you use a credit card. The first and most common is the annual rate of interest on purchases. This is how much you will be charged when you use the card to make a purchase. Then there is the cash advance rate, this is the annual rate of interest you’re charged when you make a cash withdrawal or other cash related transaction. There’s also the annual interest rate for balances transfer to the card. This is usually a low rate for a set period of time, after which, any unpaid balance bought to the card under a balance transfer promotion will be charged at the cash advance or purchase rate of interest (depending on the card). Let us know if there’s anything else you would like to know about this. Jacob.

Ask a question
feedback