What rate does my balance transfer revert to?

Interest-free balance transfer can be a useful way to clear your debt, but what happens when the promotional offer ends and the revert rate kicks in?

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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.

What will my balance transfer rate revert to?

Depending on your card issuer, your promotional balance transfer rate will revert to either the standard purchase rate or cash advance rate. You can see whether your bank's balance transfer will revert to the cash advance or purchase interest rate below.

Credit card issuersReverts back toMaximum balance transfer amountMinimum Balance Transfer Amount
American ExpressPurchase rate$10,000 or 70% of the approved credit limitn/a
ANZStandard balance transfer rate95% of the approved credit limit$100
Bank of MelbourneCash advance rate80% of the available credit limit$200
Bank of QueenslandCash advance rate80% of your credit limit$500
BankSACash advance rate80% of the available credit limit on your new BankSA credit card$200
BankwestStandard balance transfer rate95% of the approved credit limit$500
CBACash advance rateUp to your available credit limit$500
CitiCash advance rateYou can transfer up to 80% of your approved credit limit$500
ColesCash advance rate80% of your approved credit limit$2,000
Community FirstStandard balance transfer 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 BankStandard balance transfer revert rateSubject to your available credit limit$500
NABCash advance rateMaximum balance transfer of 90% 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 $900 from another credit card.$200
St.GeorgeCash advance rate80% of the approved credit limit$200
SuncorpCash advance rateSubject to lending criteria$500
VirginCash advance rate80% of the approved credit limit$500
WestpacCash advance rate80% of the approved credit limit$200

Compare 0% balance transfer credit cards by the revert rate

Rates last updated November 16th, 2019
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Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
American Express Velocity Platinum Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$375 p.a.
Get 50,000 bonus Velocity Points when you spend $3,000 for the first 3 months. Plus, 100 Status Credits and luxury travel perks.
American Express Platinum Edge Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$195 p.a.
Receive a yearly $200 Travel Credit and complimentary domestic and international travel insurance, plus 0% p.a. for 12 months on balance transfers.

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Rates last updated November 16th, 2019
$
% p.a.

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Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 22 months with 1% balance transfer fee
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% p.a. interest rate on balance transfers for the first 22 months, with a 1% balance transfer fee. Plus, a reduced $64 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 70,000 bonus Velocity Points (60,000 in 3 months and 10,000 after first year). Plus, save with 0% p.a. for 18 months on balance transfers.
Kogan Money Black Card
0% p.a. for 12 months
20.99% p.a.
$0 p.a.
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $300 Kogan.com Credit and uncapped rewards points.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Get a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and a 14-month balance transfer.
Emirates Citi World Mastercard
0% p.a. for 9 months
21.49% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Receive up to 60,000 bonus Skywards Miles and pay half the annual fee for the first year.
Coles Low Rate Mastercard
0% p.a. for 12 months
0% for 12 months, reverts to 12.99% p.a.
$58 p.a.
Offers 0% p.a. interest on balance transfers and purchases for the first 12 months. Plus, earn flybuys points at Coles Supermarkets.
Citi Rewards Platinum Credit Card - Balance Transfer Offer
0% p.a. for 26 months with 1.5% balance transfer fee
21.49% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus $0 first year annual fee.
Commonwealth Bank Low Rate Gold Credit Card
5.99% p.a. for 5 months
0% for 15 months, reverts to 13.24% p.a.
$89 p.a.
Keep interest costs low with a 0% p.a. introductory rate on purchases for 15 months. Plus, access to complimentary insurance covers.
Citi Rewards Signature Credit Card
0% p.a. for 15 months with 1% balance transfer fee
21.49% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Offers 120,000 bonus reward Points, a $199 first year annual fee, airport lounge passes and premium perks.
Coles No Annual Fee Mastercard
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$0 p.a.
Offers 0% p.a. on purchases and balance transfers for the first 12 months and an ongoing $0 annual fee. Plus, earn flybuys for your eligible spend.
Commonwealth Bank Low Fee Gold Credit Card
5.99% p.a. for 5 months
0% for 15 months, reverts to 19.74% p.a.
$0 p.a. annual fee for the first year ($89 p.a. thereafter)
Save with 0% p.a. for 15 months on purchases and an ongoing annual fee waiver when you meet the spend requirement. Plus, included insurances.
Virgin No Annual Fee Credit Card
6.9% p.a. for 36 months
18.99% p.a.
$0 p.a.
Offers 6.9% p.a. for 36 months on balance transfers and up to 55 days interest-free on purchases, all for a $0 annual fee.
BOQ Platinum Visa Credit Card
0% p.a. for 12 months
20.74% p.a.
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Enjoy 1,000 bonus Q Rewards points/month, a 12-month balance transfer offer and $0 first year annual fee.
BOQ Blue Visa Credit Card
0% p.a. for 6 months
20.74% p.a.
$60 p.a.
Receive $120 cashback when you meet the spend criteria and a 6 month interest-free balance transfer offer.
BOQ Low Rate Visa Credit Card
0% p.a. for 14 months
13.49% p.a.
$55 p.a.
A no-frills card offering 0% on balance transfers for the first 14 months with no balance transfer fee.

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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 on any remaining balances. This will either be the standard purchase or cash advance interest rate, both of which are usually much higher than the promotional offer interest rate. 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.


Balance transfers can be an efficient debt consolidation strategy, but should always aim to repay your entire debt before the revert rate comes up to bite you.

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10 Responses

  1. Default Gravatar
    mariaFebruary 23, 2016

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

    • Avatarfinder Customer Care
      JonathanFebruary 23, 2016Staff

      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
    SamanthaApril 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?

    • Avatarfinder Customer Care
      JacobApril 15, 2014Staff

      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
    ReneeJuly 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?

    • Avatarfinder Customer Care
      JacobJuly 15, 2013Staff

      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
      ReneeJuly 15, 2013

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

    • Avatarfinder Customer Care
      JacobJuly 15, 2013Staff

      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
    JoshJune 3, 2013

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

    • Avatarfinder Customer Care
      JacobJune 3, 2013Staff

      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.

Credit Cards Comparison

Rates last updated November 16th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 22 months with 1% balance transfer fee
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% p.a. interest rate on balance transfers for the first 22 months, with a 1% balance transfer fee. Plus, a reduced $64 first year annual fee.
Latitude 28° Global Platinum Mastercard
21.99% p.a.
$0 p.a.
Save with 0% foreign transaction fees on purchases. Plus, complimentary flight delay passes and a global wifi access.
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months
$199 p.a. annual fee for the first year ($299 p.a. thereafter)
Get up to 120,000 bonus Qantas Points (20,000/month) when you spend $1,500/month for the first 6 months.
Citi Clear Platinum Credit Card
0% for 9 months, reverts to 14.99% p.a.
0% p.a. for 9 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Enjoy a $0 first year annual fee and a 0% introductory rate on purchases and balance transfers. Plus, complimentary purchase insurance cover.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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