woman_creditcard_checking_bills_Shutterstock

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?

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 rate 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 July 23rd, 2019
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
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.
Bendigo Bank Low Rate Mastercard
0% p.a. for 18 months with 2% balance transfer fee
11.99% p.a.
$45 p.a.
Take advantage of 0% p.a. for 18 months on balance transfers, plus a low variable purchase interest rate of 11.99% p.a. on purchases.

Compare up to 4 providers

Rates last updated July 23rd, 2019
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate Purchase rate (p.a.) Annual fee Amount Saved Product Description
HSBC Platinum Credit Card
0% p.a. for 12 months
0% for 12 months, reverts to 19.99% p.a.
$129 p.a.
0% p.a. on purchases and balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
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 75,000 bonus Velocity Points and save with a $64 first year annual fee. Plus, a long-term balance transfer offer.
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
20.99% 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.
St.George Vertigo Classic - Exclusive Offer
0% p.a. for 6 months
0% for 14 months, reverts to 13.99% p.a.
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Finder Exclusive:
Low rate card offering 0% p.a. interest on purchases for the first 14 months and on balance transfers for 6 months. Plus, a $0 first year annual fee.
Citi Rewards Classic Credit Card
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)
Earn Points per $1 spent and up to $50 cashback when you meet the spend criteria. Plus, a 15 per month balance transfer offer.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
0% p.a. for 18 months
20.74% p.a.
$50 p.a.
Save with an ongoing $50 annual fee and 0% balance transfer offer. Plus, the ability to earn up to 30,000 bonus Velocity Points in the first 3 months.
Citi Rewards Platinum Credit Card - Balance Transfer Offer
0% p.a. for 26 months with 1.5% balance transfer fee
20.99% 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.
Citi Signature Qantas Credit Card
0% p.a. for 6 months
20.99% p.a.
$248 p.a. annual fee for the first year ($444 p.a. thereafter)
Receive 50,000 bonus Qantas Points, 2 yearly airport lounge visits and a discounted first year annual fee.
Bank of Melbourne Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. balance transfer rate for 18 months, a reduced annual fee for the first year and complimentary travel insurance.
BankSA Vertigo Classic
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 16 months on balance transfers. Plus, a low annual fee and purchase interest rate.
BankSA Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer, a discounted annual fee of $49 for the first year and complimentary travel insurance with a low purchase rate.
St.George Amplify Signature
0% p.a. for 6 months
19.74% p.a.
$179 p.a. annual fee for the first year ($279 p.a. thereafter)
Get up to 200,000 bonus Amplify Points (100,000 each year) when you spend $12,000 p.a. for the first 2 years.
Bank of Melbourne Vertigo Classic
0% p.a. for 16 months
13.99% p.a.
$55 p.a.
Enjoy 0% p.a. interest for up to 16 months on balance transfers. Plus, a low annual fee and competitive purchase rate.
Bank of Melbourne Amplify Platinum - Qantas
0% p.a. for 6 months
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn up to 0.5 Qantas Points per $1 spent.
St.George Vertigo Platinum
0% p.a. for 18 months
12.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Features a long-term 0% balance transfer offer, $49 first year annual fee and access to a 24/7 personal concierge service.
Westpac Low Rate Card
0% p.a. for 18 months
13.74% p.a.
$59 p.a.
A low rate card offering 0% p.a. on balance transfers for 18 months and a competitive purchase rate.
Cit Rewards Signature Credit Card
0% p.a. for 15 months with 1% balance transfer fee
20.99% 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.
BankSA No Annual Fee
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Offers a 0% p.a. for 12 months balance transfer, up to 55 days interest-free on purchases and an ongoing $0 annual fee.
Bank of Melbourne No Annual Fee Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Take advantage of a 0% p.a. for 12 months balance transfer, get up to 55 days interest-free on purchases and pay no annual fee for the life of the card.
St.George No Annual Fee
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Receive up to 55 days interest-free on purchases, a low minimum credit limit of $500 and a long-term balance transfer offer.
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 44 days interest-free on purchases, all for a $0 annual fee.
HSBC Platinum Credit Card - Balance Transfer Offer
0% p.a. for 22 months
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.

Compare up to 4 providers

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.

Back to top

Picture: Shutterstock

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

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

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

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.

Ask a question
Go to site