balance-transfer-revert-rate

What rate does my balance transfer revert to?

Information verified correct on April 24th, 2017

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 MelbournePurchase95% of the approved credit limit$200
Bank of QueenslandCash advance rate80% of your credit limit$500
Bank SAPurchase95% 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
NABPurchase 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.GeorgePurchase95% 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 April 24th, 2017
$
% p.a.

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
American Express Essential®  Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
0% p.a. for 12 months with 1% balance transfer fee 14.99% p.a. $0 p.a. Go to site More info
Qantas American Express Discovery Card
Earn 1 point per $1 spent plus enjoy 0% p.a. on balance transfers for 12 months, all for a $0 annual fee.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $0 p.a. Go to site More info
American Express Platinum Edge Credit Card
Receive 5,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy a $200 travel credit every year and pay no annual fee for the first year.
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) Go to site More info
Bankwest Breeze MasterCard
Enjoy an introductory rate of 0% p.a. on balance transfers for 21 months (2% balance transfer fee applies). Limited time only.
0% p.a. for 21 months with 2% balance transfer fee 12.99% p.a. $59 p.a. Go to site More info
American Express Velocity Platinum Card
Receive 50,000 bonus Velocity Points when you apply online, are approved and meet the minimum spend required, plus take advantage of the 0% p.a. for 12 months balance transfer offer. Also receive a complimentary return flight every year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $349 p.a. Go to site More info
Qantas American Express Ultimate Card
Enjoy 75,000 bonus Qantas Points when you meet the spend criteria plus 75 Bonus Status Credits when you book and fly back with Qantas. Earn up to 2.5 Qantas Points per $1 spent on eligible purchases.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $450 p.a. Go to site More info
American Express Explorer Credit Card
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 3 months of card membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
0% p.a. for 12 months with 1% balance transfer fee 20.74% p.a. $395 p.a. Go to site More info
Bank of Melbourne Amplify Signature
Receive 30,000 bonus points when you meet the minimum spend. Also enjoy low introductory offers on purchases and balance transfers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $279 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low annual fee combined with 0% p.a. balance transfer offer for 12 months and 0% p.a. for up to 6 months on purchases.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
Bank of Melbourne Amplify Card
Enjoy a 0% p.a. interest for 12 months on balance transfers and 0% p.a. for up to 6 months on purchases. Also earn Amplify points on purchases to redeem rewards and travel through Amplify Rewards.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $79 p.a. Go to site More info
Bank of Melbourne Vertigo Platinum
A platinum card with a low balance transfer offer of 0% p.a. interest for 12 months and 0% p.a. for 6 months on purchases combined with complimentary insurance covers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
Bank of Melbourne Amplify Platinum
Enjoy introductory offers on purchases and balance transfers with a sign up bonus points of 30,000 on eligible spend.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $99 p.a. Go to site More info
BankSA Vertigo Visa
A low interest rate card with a low annual fee, a long-term balance transfer offer of 0% p.a. for 12 months and an introductory offer of 0% p.a. for 6 months on purchases.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 12 months on balance transfers and 0% p.a. for 6 months on purchases, plus a low annual fee.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 13.24% p.a.) $55 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 12 months and an introductory purchase offer of 0% p.a. for 6 months.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
St.George Amplify Card
A low interest rate of 0% p.a. for 12 months on balance transfers and a purchase offer of 0% p.a. for 6 months.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $79 p.a. Go to site More info
St.George Amplify Platinum
This card features a 30,000 bonus points offer and introductory interest rates on balance transfers and purchases.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $99 p.a. Go to site More info
St.George Amplify Signature
Receive 30,000 sign-up bonus points with low introductory interest rates on purchases and balance transfers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $279 p.a. Go to site More info
BankSA Amplify Card
The BankSA Amplify Card is a brand new rewards credit card that allows you to earn more Qantas Points combined with low purchase and balance transfer offers.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 19.49% p.a.) $79 p.a. Go to site More info
BankSA Vertigo Platinum
Enjoy 0% balance transfer rate for 12 months and 0% purchase rate for 6 months if you apply and are approved by 1 May 2017.
0% p.a. for 12 months 0% p.a. for 6 months (reverts to 12.74% p.a.) $99 p.a. Go to site More info
St.George Vertigo Platinum - Online Only Balance Transfer Offer
Enjoy a long-term balance transfer offer of 3% p.a. for 36 months when you apply online, plus complimentary insurance covers and a personal concierge service.
3% p.a. for 36 months 12.74% p.a. $99 p.a. Go to site More info
Rates last updated April 24th, 2017
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
0% p.a. for 15 months 19.99% p.a. $149 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
0% p.a. for 18 months with 1.5% balance transfer fee 20.74% p.a. $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Receive 0% p.a. for 12 months on purchases, 0% p.a. for 6 months on balance transfers and an exclusive $129 Virgin Australia Gift Voucher each year.
0% p.a. for 6 months 0% p.a. for 12 months (reverts to 20.74% p.a.) $129 p.a. Go to site More info
NAB Low Fee Card
Enjoy a low annual fee card with a low introductory rate of 0% p.a. on balance transfers for 18 months.
0% p.a. for 18 months with 3% balance transfer fee 19.74% p.a. $30 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Receive up to 30,000 bonus Velocity Points and earn 1 Velocity Points per $1 spent. Receive an exclusive $129 Virgin Australia Gift Voucher and two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
1.9% p.a. for 15 months 20.74% p.a. $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
Emirates Citi World Mastercard
Receive up to 50,000 bonus points and enjoy a reduced annual fee for the first year.
0% p.a. for 9 months 20.99% p.a. $149 p.a. annual fee for the first year ($299 p.a. thereafter) Go to site More info
Citi Rewards Platinum Credit Card
Enjoy a reduced annual fee in the first year, 0% p.a. for 24 months balance transfer offer, Citi Reward Points on eligible spend, plus a complimentary 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) Go to site More info
Citi Simplicity Card
Take advantage of the 0% p.a. for 15 months offer on balance transfers, a low interest rate on purchases, an annual fee waiver for life, plus 5% cash back on retail purchases.
0% p.a. for 15 months with 1.5% balance transfer fee 19.99% p.a. $0 p.a. Go to site More info
Citi Rewards Classic Credit Card
Enjoy 0% p.a. on balance transfers for 15 months, up to $50 cash back and a reduced annual fee in the first year.
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) Go to site More info
NAB Premium Card
Benefit from premium credit card advantages including travel insurance, Platinum Concierge Service plus 0% p.a. for 24 months on balance transfers.
0% p.a. for 24 months with 3% balance transfer fee 19.74% p.a. $90 p.a. Go to site More info
NAB Low Rate Credit Card
A low rate card which offers 0% p.a. on balance transfers for the first 18 months combined with a low annual fee.
0% p.a. for 18 months with 3% balance transfer fee 13.99% p.a. $59 p.a. Go to site More info
NAB Rewards Classic Card
Receive 40,000 bonus points when you spend $1,500 on everyday purchases within 90 days from card approval, earn rewards points per $1 spent, and enjoy a $0 annual fee for the first year.
4.99% p.a. for 6 months 19.99% p.a. $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
NAB Rewards Platinum Card
Enjoy 80,000 bonus points when you spend $2,500 on everyday purchases within 90 days from card approval. Benefit from $0 annual fee for the first year and a range of platinum features.
4.99% p.a. for 6 months 19.99% p.a. $0 p.a. annual fee for the first year ($195 p.a. thereafter) Go to site More info
Virgin Money Low Rate Credit Card
Enjoy a low ongoing purchase rate with an introductory rate on balance transfers and a competitive annual fee.
0% p.a. for 12 months 11.99% p.a. $99 p.a. Go to site More info
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. Also, enjoy a long-term balance transfer offer and an annual fee waiver for the first year.
0% p.a. for 14 months 19.99% p.a. $0 p.a. annual fee for the first year ($49 p.a. thereafter) Go to site More info

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.

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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.

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