Balance transfer limit: How much can I transfer with a balance transfer card?

Information verified correct on September 27th, 2016
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Understand how balance transfer limits work so you can find the right credit card to consolidate your debts.

Balance transfers offer a low introductory interest rate for existing debts you move to the new card. This means you can save money on charges and pay off the balance faster. Our comparison of balance transfer credit cards includes 0% offers for periods of 12 months or more. These offers are generally available to new customers only.

When you apply for a new balance transfer credit card, you are assigned a credit limit. This limit affects your balance transfer as you can only use a certain percentage of it to move existing debts. You can view a table of maximum balance transfer limits for banks and other financial institutions further down the page.

Balance Transfer Credit Card Comparison

Rates last updated September 27th, 2016.

ME Bank frank Credit Card

Interest rate changed from 9.99% p.a. to 11.99% p.a. on purchases, balance transfers and cash advanc

September 19th, 2016

Virgin No Annual Fee Credit Card

Balance transfer offer has been extended to 31 October 2016.

September 26th, 2016

Virgin Australia Velocity Flyer Card - Balance Transfer Offer

Balance transfer offer has been extended until 31 October 2016.

September 26th, 2016

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% p.a.
Balance transfer rate (p.a.) Balance Transfer Limit Annual fee Interest Saved
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn Velocity points and repay your credit card debt with a long term balance transfer offer.
0% p.a. for 18 months 80% of available credit limit $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Earn reward points with high credit limits, prestige services including a personal concierge service.
0% p.a. for 15 months 100% of available credit limit $149 p.a. Go to site More info
ANZ First Visa Credit Card - Exclusive Offer
Take advantage of this exclusive offer and enjoy 0% p.a. for the first 12 months on balance transfers and 0% p.a. for the first 3 months on purchases.
0% p.a. for 12 months 95% of available credit limit $30 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months with a one off 2% balance transfer fee $59 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
0% p.a. for 18 months 95% of available credit limit $55 p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
A low rate purchase card with an introductory purchase rate and a long term 0% balance transfer offer.
0% p.a. for 18 months 95% of available credit limit $55 p.a. Go to site More info
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 70% of available credit limit $0 p.a. Go to site More info
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards Bonus Points when you meet the minimum spend requirement. Enjoy 0% p.a. for 12 months on balance transfers and receive a complimentary Virgin Australia domestic economy return flight every year.
0% p.a. for 12 months with 1% balance transfer fee 70% of available credit limit $195 p.a. Go to site More info
Citi Rewards Platinum Card - Cashback Offer
Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
0% p.a. for 12 months 80% of available credit limit $99 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
Citi Rewards Credit Card - Classic Card
Features complimentary rewards program along with no point expiry and a balance transfer offer.
0% p.a. for 12 months 80% of available credit limit $99 p.a. Go to site More info
Virgin No Annual Fee Credit Card
No annual fee for the life of the card with $100 cashback and a 0% p.a. offer on balance transfers for 18 months. Spend criteria applies for cashback offer.
0% p.a. for 18 months with 2% balance transfer fee 80% of available credit limit $0 p.a. Go to site More info
ANZ First Visa Credit Card
Enjoy a low annual fee, interest-free days on purchases and a low minimum credit limit.
0% p.a. for 18 months with 3% balance transfer fee 95% of available credit limit $30 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
$199 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 and an introductory offer of 1% p.a. for 12 months on purchases.
0% p.a. for 18 months 95% of available credit limit $55 p.a. 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 balance transfers and an exclusive $129 Virgin Australia Gift Voucher every year.
0% p.a. for 6 months 80% of available credit limit $129 p.a. Go to site More info
Citi Clear Platinum Card
A platinum card with a low purchase and balance transfer offer of 0% p.a. for 9 months.
0% p.a. for 9 months 80% of available credit limit $99 p.a. Go to site More info
Citi Rewards Credit Card - Platinum Card
Consolidate your debt with a low balance transfer offer that will also include your personal loan.
0% p.a. for 24 months with 1.5% balance transfer fee 80% of available credit limit $199 p.a. annual fee for the first year ($249 p.a. thereafter) Go to site More info
NAB Qantas Rewards Premium Card
Get 20,000 bonus Qantas Points plus enjoy a low promotional offer of 0% p.a. for 15 months on purchases and balance transfers.
0% p.a. for 15 months with a one off 2% balance transfer fee 90% of available credit limit $250 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 2 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 70% of available credit limit $395 p.a. Go to site More info
ANZ Platinum Credit Card
Enjoy platinum card benefits with $0 annual fee in the first year and complimentary overseas travel and medical insurance.
0% p.a. for 18 months with 3% balance transfer fee 95% of available credit limit $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info

How do balance transfer limits work?

A balance transfer is a money saving credit card feature that’s typically offered to new customers. A financial institution can provide a special promotional rate of interest on any credit or store card debt you transfer to a new credit card when you apply for the product. You save money during the promotional period because your interest repayments are lower.

When the promotional period ends, the balance transfer rate will revert to a standard rate of interest, usually the cash advance rate or the purchase rate of the card. The minimum balance transfer amount is generally $200 – $500. The maximum amount you can balance transfer is usually based on a percentage of your credit limit. Each institution has different rules about maximum balance transfer limits.

What is a balance transfer?

How much can I balance transfer?

The table below shows balance transfer limits for different financial institutions. When you’re reading our balance transfer credit card reviews, you can also view the “up to balance transfer percentage” limit information in the relevant tables.

Bank

Balance transfer limit

Commonwealth BankCommonwealth Bank can process balance transfer requests from $500 up to 100% of your available credit limit.
BankwestYou can use up to 95% towards a balance transfer with Bankwest.
ANZMinimum balance transfer limit of $100 and a maximum balance transfer limit up to 95% of your credit limit.
NABNAB’s minimum balance transfer limit is $200. NAB’s maximum balance transfer limit is up to your available credit limit at the time of processing the balance transfer request.
WestpacWestpac lets you to use up to 95% of your credit card limit towards a balance transfer.
St.GeorgeSt.George’s minimum balance transfer is limit $200 and maximum balance transfer limit is up to 95% of your credit limit.
Bank of MelbourneThe balance transfer minimum for Bank of Melbourne is $200. You can request a balance transfer up to the full amount of your available credit limit.
BankSABalance transfer as little as $200 and up to 95% of your credit limit with BankSA.
Bank of QueenslandThe Bank of Queensland minimum balance transfer amount is $500 and the maximum amount is up to your available credit limit.
CitibankThe minimum credit limit is $500 and the maximum amount is up to your available credit limit. Citibank reserve the right to cap your balance transfer amount as a portion of your credit limit. .
Coles MasterCardThe Coles minimum balance transfer limit is $100 and the maximum amount is up to your credit limit.
Community FirstBalance transfers to Community First credit cards start at $500 and are capped at your Community First credit card credit limit.
HSBCUp to your HSBC credit card limit.
ME BankME Bank minimum balance transfer limit is $100 and the maximum amount is up to your credit card limit
Suncorp BankSuncorp Bank minimum balance transfer limit is $500 and the maximum amount is up to your available credit limit. Note: Balance transfers are not accepted from other CIti Group credit cards.
WoolworthsBalance transfers are capped at up to your credit limit.  Woolworths reserve the right to put a cap on your balance transfer.Note: Balance transfers to Woolworths credit cards are not accepted from HSBC credit cards.

Credit limits and balance transfer limits

Finding the right balance transfer credit card with the right balance transfer limit is a straightforward process. Look at how much debt you want to transfer and think about whether you used the maximum credit limit available when you originally applied for the credit card. This previous decision could affect the new limit offer made to you when you apply for a balance transfer.

To put this in perspective, check out the following case studies, where Jessica and Daniel both recently transferred a balance to a new credit card so they could save money on credit card interest repayments.

Jessica, Sydney, 36

Jessica applied for ANZ Low Rate credit card so she could pay down the $5,000 she owes on her St.George Vertigo Platinum. The ANZ Low Rate has a balance transfer offer of 0% p.a. for 18  months and cardholders use up to 95% of their credit limit towards a balance transfer.

She previously took the maximum credit limit offered to her by St.George, $6,000. As a result, ANZ could only offer her a limit of $3,000 on her new credit card. Jessica was able to transfer $2,850 from her St.George credit card on to her new ANZ credit card under the balance transfer promotion. She used the interest free period on her ANZ credit card to save her money on that debt so she could concentrate on paying down the remaining $2,150 on her Vertigo Platinum (which was still accruing interest).


Daniel, Melbourne, 29

Daniel applied for the 28 Degrees MasterCard to use on an overseas trip. GE Money offered him a $10,000 limit but he decided he only needed a credit limit of $2,000 as he was using the card mainly as a backup on his travels.

Daniel ended up maxing out the 28 Degrees MasterCard on his trip. When he got home, he applied for a balance transfer to the NAB Low Rate Visa credit card, which offered 0% p.a. for 15 months plus a one off 2% balance transfer handling fee. NAB offered a $5,000 credit limit to Daniel but he decided to set his limit at $2,100. As NAB lets cardholders use up to their credit limit for a balance transfer, the limit on the NAB card was enough to cover the whole debt.

Remember, your borrowing power is based on your income/assets compared to your expenses/liabilities. If you take the maximum credit limit, it will be difficult to balance transfer the full amount to a new credit card if your income/asset ratio has not changed. It’s also important to compare balance transfer credit cards so you can find the right deal and save money on your credit card repayments.

Frequently asked questions

How do I do a balance transfer?

A balance transfer can be easily completed online. When you’re ready to apply for a credit card, click the “Go to site” button and you will be taken to the financial institution’s secure application page.. During the application, you will be asked whether you would like to transfer a balance from an existing credit card. Enter each card number and the amount you want to transfer from that account to your new account. The balance transfer request is processed when you activate your credit card.

How long does a balance transfer take?

A balance transfer request can take up to 14 days to process from when you activate the card. Often it can be much quicker than this.

What happens if I don’t get approved for the credit limit I want?

You will only be able to transfer some of the balance from your previous card under these circumstances. For example, if you have a $5,000 credit card debt you want to pay off using a balance transfer, and you only get approved for $4,000 on your new credit card, the balance transfer maximum limit is calculated on a credit limit of $4,000.

Can I get more credit so I can transfer all my credit card debt?

You will have to apply for a credit limit increase with the card issuing institution. This request is approved or denied based on the financial institution’s credit lending criteria. If you have already accepted the maximum credit limit available to you, and your circumstances have not changed, you may not be able to get a credit limit increase.

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6 Responses to Balance transfer limit: How much can I transfer with a balance transfer card?

  1. Default Gravatar
    | September 30, 2015

    Hi
    Not sure if my last question came thru but basically, what happens if you pay off your balance transfer quicker than 14months etc?

    Also, is it possible to do another balance transfer from the same card? Obviously with a different bank.
    Or is that a bad idea..

    Thanks

    • Staff
      Jonathan | September 30, 2015

      Hi Jazz, thanks for your question.

      If your balance transfer debt is repaid then you can use the credit card as normal. If you meet the eligibility requirements for the next bank/ card you are applying for then you can request a balance transfer to pay less interest.

      Cheers,

      Jonathan

  2. Default Gravatar
    Jazz | September 24, 2015

    Hi,
    I have been accepted for a st George vertigo card, however my credit limit is very low.
    Would it be best to amend the amount to transfer rather than cancelling the card? Would this help credit limits or do Banks just stick to initial credit limit.

    Also, if I cancel this card, how long should I wait before applying or another credit card balance transfer?

    Thank You.

    • Staff
      Jonathan | September 25, 2015

      Hi Jazz, thanks for your inquiry!

      If the approved credit limit for your St.George Vertigo card is insufficient to transfer all your existing credit card debt, then a credit limit increase can be requested. In regards to applying for another credit card typically it is best to wait at least a few months (4-6 months) before applying for another card.

      Cheers,

      Jonathan

    • Default Gravatar
      | September 30, 2015

      Hi,
      Another question:

      If the smaller amount of balance transfer is paid off say in couple months time, would it be a bad idea to apply for another credit card for another balance transfer, In the hopes that the credit limit be extended?

      Thank U.

    • Staff
      Jonathan | September 30, 2015

      Hi Jazz, thanks for your inquiry!

      Credit limits are subject to a bank’s lending criteria who take into account income, liabilities, employment history and credit history. As a result applying for another credit card balance transfer offer will not guarantee a credit limit extension. Frequent credit applications can display negative signals to a bank, so it can be recommended to wait at least a few months before applying for another card.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated September 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
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
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
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.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.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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