Balance transfer limit: How much can I transfer to a new card?

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Name	Balance transfer limit	Annual fee	Balance transfer rate p.a.	Amount Saved
Kogan Money Card – Exclusive Offer Exclusive Kogan Rewards Program	80% of available limit	Annual fee $0	Balance transfer rate p.a. 0% for 18 months with 1% balance transfer fee, then 22.74%	Amount saved $1,285.99 over 18 months	Go to site More Info Compare	Save with 0% p.a. interest on balance transfers (with a 1% BT fee) and 9.99% p.a. on purchases, both for 18 months, plus, an ongoing $0 annual fee.
Westpac Low Rate Card	80% of available limit	Annual fee $59	Balance transfer rate p.a. 0% for 26 months with 2% balance transfer fee, then 21.99%	Amount saved $1,553.37 over 26 months	Go to site More Info Compare	Save with a 0% p.a. interest rate on balance transfers for 26 months (with a 2% BT fee). Plus, a low 13.74% p.a. purchase interest rate.
St.George Vertigo Card	80% of available limit	Annual fee $55	Balance transfer rate p.a. 0% for 24 months with 1% balance transfer fee, then 21.99%	Amount saved $1,551.89 over 24 months	Go to site More Info Compare	Get a 0% p.a. interest rate on balance transfers for 24 months (with a one-time 1% balance transfer fee).
Virgin Australia Velocity Flyer Card - Balance Transfer Offer Finder Award Velocity Frequent Flyer	80% of available limit	Annual fee $149	Balance transfer rate p.a. 0% for 24 months with 1% balance transfer fee, then 20.99%	Amount saved $1,363.89 over 24 months	Go to site More Info Compare	Get 0% p.a. on balance transfers for 24 months (with 1% BT fee) and $129 Virgin Australia Gift Voucher.
Bankwest Breeze Platinum Mastercard	95% of available limit	Annual fee $59	Balance transfer rate p.a. 0% for 24 months with 3% balance transfer fee, then 12.99%	Amount saved $1,443.89 over 24 months	Go to site More Info Compare	Get 0% p.a. interest on balance transfers for 24 months (with a 3% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.
NAB Low Rate Credit Card	90% of available limit	Annual fee $59	Balance transfer rate p.a. 0% for 24 months with 3% balance transfer fee, then 21.74%	Amount saved $1,443.89 over 24 months	Go to site More Info Compare	Get a 0% p.a. interest rate on balance transfers for the first 24 months (with a 3% BT fee).
NAB Rewards Platinum Card NAB Rewards	90% of available limit	Annual fee $45 first year ($195 after)	Balance transfer rate p.a. 0% for 12 months with 3% balance transfer fee, then 21.74%	Amount saved $732.32 over 12 months	Go to site More Info Compare	Get up to 100,000 bonus NAB Rewards Points (worth $480 in eGift cards): 80,000 points when you spend $1,000 in the first 60 days and 20,000 after 12 months.
Qantas Premier Everyday Qantas Frequent Flyer	80% of available limit	Annual fee $99	Balance transfer rate p.a. 0% for 12 months with 2% balance transfer fee, then 21.99%	Amount saved $728.32 over 12 months	Go to site More Info Compare	Get 2 bonus Qantas Points per $1 spent on eligible purchases in the first 4 months (up to 8,000 points), plus complimentary insurance.
St.George Vertigo Card - Cashback Offer	80% of available limit	Annual fee $55	Balance transfer rate p.a. 6.99% for 12 months with 0% balance transfer fee, then 21.99%	Amount saved $562.66 over 12 months	Go to site More Info Compare	Get up to $500 cashback at eligible supermarkets and petrol stations in the first 180 days. Plus, a low interest rate for purchases.
Bankwest Breeze Classic Mastercard	95% of available limit	Annual fee $49	Balance transfer rate p.a. 0% for 24 months with 3% balance transfer fee, then 12.99%	Amount saved $1,463.89 over 24 months	Go to site More Info Compare	Save with 0% p.a. on balance transfers for 24 months (with a 3% BT fee).

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What is a balance transfer limit?

A balance transfer is when you move some unpaid credit debt (your balance) onto a new credit card with a balance transfer offer. It's a great way to save money because some balance transfer offers give you a low or 0% interest rate for months to help you pay the balance off.

But there's a limit. Most credit cards only let you transfer between 80% and 95% of your credit limit.

Credit limit?

Your credit limit is the maximum amount you can spend on your credit card. Everyone's credit limit is different. It depends on your credit score, your income, your spending, and the type of card you apply for.

Example: balance transfer credit card limit

You have a $5,000 card balance with a high interest rate.
You apply for a new credit card with a 0% balance transfer offer for 12 months.
The balance transfer limit is 90% of your credit limit.
The card provider assesses your application and approves you for a $6,000 credit limit.
This means your balance transfer limit is 90% of $6,000, which is $5,400.
You can transfer your entire balance.

How can I figure out my balance transfer limit?

This is where it gets tricky. You won't know exactly how much you can balance transfer until after you have been approved for a new balance transfer credit card. This is because you need to know what credit limit you've been approved for on that card.

You can get a rough sense of your credit limit before applying for a credit card by:

Checking to see if the card lists a minimum or maximum credit limit.
Checking your credit score (if your score is Good or Excellent you have a better chance of getting a higher balance approved).
Estimating how much you can afford to spend on a credit card. If you earn $5,000 a month, you won't be getting a $10,000 credit limit.

Finder survey: Were Australians able to transfer the full amount they wanted to onto their balance transfer credit card?

Response
Yes	87.26%
No	12.74%

Source: Finder survey by Pure Profile of 1113 Australians, December 2023

How much can I balance transfer?

The table below shows balance transfer limits offered by different financial institutions.

Bank	Balance transfer limits
ANZ	Minimum balance transfer limit of $100 and a maximum balance transfer limit up to 95% of your credit limit.
BankSA	Balance transfer as little as $200 and up to 80% of your credit limit with BankSA.
Bankwest	You can use up to 95% towards a balance transfer with Bankwest.
Bank of Melbourne	You can balance transfer a minimum of $200 and up to 80% of your credit limit with Bank of Melbourne.
Bank of Queensland	You can balance transfer up to 80% of your approved credit limit.
Citi	You can transfer a minimum of $500 and up to 80% of your approved credit limit.
Coles Mastercard	You can transfer up to a maximum of 80% of your approved credit limit to a Coles credit card.
Community First Bank	Balance transfers to Community First credit cards start at $500 and are capped at your Community First credit card credit limit.
HSBC	You can transfer up to 90% of your credit limit.
Kogan Money	From $500 up to 80% of your available credit limit.
ME	You can transfer up to $100 less than your available credit limit.
NAB	NAB's minimum balance transfer limit is $200. NAB's maximum balance transfer limit is up to 90% of your approved credit limit if the request is made within the first 30 days from account opening, and up to 100% of your approved credit limit if the request is made after 30 days.
St.George	St.George's minimum balance transfer is limit $200 and maximum balance transfer limit is up to 80% of your credit limit.
Suncorp Bank	You can transfer up to of your approved credit limit.
Westpac	Westpac lets you to use from $200 up to 80% of your credit card limit towards a balance transfer.

Remember: As well as the size of your debt, you may need to meet income requirements and have a good credit score to be approved. Before you apply, you can get your free credit report through Finder.

Can my balance transfer be higher than my credit limit?

No, your balance transfer must always be less than or equal to the approved credit limit for the new card. It could be lower than that, depending on the maximum balance transfer limit, along with lending criteria and assessment for your application.

What happens if I am approved for a credit limit that is worth less than the debt I want to transfer?

There are four main options you can consider if your balance transfer debt is higher than the credit limit you're approved for on a new card:

Cancel the application. If you haven't received or activated the card, you can call the issuer and ask them to cancel the application. There should not be any charge for this.
Cancel the card. You can cancel your new card at any time after it's been activated. But make sure you do this before the balance transfer has been processed. Also note that if the card charges an annual fee, you may need to pay it before the account can be closed.
Go ahead with the transfer. If you've got a balance transfer credit card with a competitive introductory 0% interest offer, then you may still want to use it to pay down whatever debt can be moved to the card. Just remember to budget for repayments on your existing card and, if possible, aim to pay off the debt that's still being charged interest first to help keep your costs down.
Consider a personal loan to pay off some or all of your debt instead. If a balance transfer credit card does not cover your entire debt, you could look at getting a personal loan to cover the debt that is left over on your original credit card, or as an alternative option for consolidating all your debt. As personal loans typically offer lower standard interest rates than most credit cards, this could help you save on interest charges that would apply to your existing card's balance.

Is getting a partial balance transfer worth it?

Even if you can't transfer your entire card balance, you can transfer part of it.

A partial balance transfer can still save you money.

Example: partial balance transfer

You owe $5,000 on a credit card with an interest rate of 19.99%. The most you can afford to repay on the card is $400 a month.

At this rate it would take 15 months to pay off the debt and cost you $653.35 in interest.

You're approved for a new balance transfer credit card offering 0% p.a. for 18 months. But you can only transfer $3,000. If you went ahead with the transfer, you could split up your $400 payment between the cards to help save on interest.

Existing card balance = $2,000. You could put $300 a month to repay this and clear the debt in around 8 months. You'd pay $137.91 in interest.
0% balance transfer = $,3000. You can put the remaining $100 a month towards repaying the balance transfer amount and pay no interest at all. After 8 months you'd have got this down to $2,200.
Now you still have 10 months with the 0% balance transfer offer. At $400 a month you could pay it off in 6 months.

Even with just a partial balance transfer you still save $515.44 in interest. And you'd be out of debt 4 months sooner.

Thank you for your feedback!

Written by

Amy Bradney-George

Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

Amy's expertise

Amy has written 565 Finder guides across topics including:

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More resources on Finder

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Which credit cards let you balance transfer personal loan debt?
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10 Responses

KimJanuary 19, 2019

I have been approved for a balance transfer credit card. They have advised me that they will transfer the full amount of my credit card limit in the next 2-3 working days. While I have been waiting on this approval I had to make a minimum payment to the existing credit card. With the minimum payment now applied the balance owing on the existing credit card is now less than the amount that my new credit card will be transferring. My question is what happens to that difference in balances? For example, if my existing credit card limit was $5000 and the new credit card will be transferring the balance of $5000 but I made the payment of $200 to the existing credit card. The true owing balance to the existing credit card is now $4800 (not counting interest fees). My new credit card provider has said that they will still transfer the full $5000. Therefore what happens to the $200 that I had to pay as a minimum payment to my existing credit card?

Finder

JeniJanuary 22, 2019Finder

Hi Kim,

Thank you for getting in touch with finder.

You may discuss the amount you’ve paid with your existing credit card issuer if becomes an over payment. As you know, if the balance transfer amount has not been completed then you have to pay your minimum repayment on or before the due date with your existing credit card issuer to prevent missed/late payment.

I hope this helps.

Thank you and have a wonderful day!

Cheers,
Jeni

AleasheaDecember 27, 2018

I’m on centerlink benefits I’m looking for a credit card that we’re I’m not paying alot back but have a minimum card useage of 1000. Thanks

Finder

JohnDecember 27, 2018Finder

Hi Aleashea,

Thank you for reaching out to Finder.

Our credit cards for pensioners and retirees guide is the best page to read through to check out your options and also to get more insights on how it works. You can compare low-cost credit cards to see the credit card brands you could consider. You can click on ‘More info’ to be rerouted to our review page to check the credit card details, eligibility, pros and cons, and fees. If this is the type of credit card you’re looking for, simply click on the ‘Go to site’ once you are ready to apply to be redirected to the card’s website.

Hope this helps!

Cheers,
Reggie

JazzSeptember 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

Finder

JonathanSeptember 30, 2015Finder

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

JazzSeptember 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.

Finder

JonathanSeptember 25, 2015Finder

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

JazzSeptember 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.

Finder

JonathanSeptember 30, 2015Finder

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

Balance transfer limits — a simple explanation