What is a balance transfer?

A balance transfer involves moving the outstanding balance from your non-ANZ credit or store card account to an ANZ Low Rate Visa. You can choose to transfer the balance of your credit or store card balance to ANZ and pay just 1.99% p.a. for 12 months* on that balance.

Transferring your balance to a card with a lower interest rate such as the ANZ Low Rate Visa can help you save on interest.

Calculate how much you can save in interest by transferring your balance to ANZ

All you need to do is let us know how much you owe on your existing credit card and what interest rate you’re currently paying.

Balance Transfer calculator

Min $100
% p.a.

By transferring your balance to an ANZ Low Rate Visa, you could save:

$X.XX Over 12 months

This is an estimate only and is based on the information you have entered, and is not an offer of finance by ANZ. The ANZ Low Rate Visa requires a minimum monthly payment of 3% (minimum $10) of the outstanding balance by the due date each month. This guide takes into account the minimum monthly repayment of 3% to estimate the amount you could save but otherwise assumes no other repayments are made. Savings only apply to the amount transferred and don’t take into account any further card transactions. Savings are calculated using ANZ’s balance transfer interest rate of 1.99% p.a. After twelve months our standard purchase interest rate for ANZ Low Rate Visa (currently 13.90% p.a. will apply to any remaining balance transfer amount. Actual savings may vary, particularly if you do not meet (or repay more than) the minimum repayments each month. A half-yearly card fee of $29 applies.

How does a balance transfer work?

We will work with your other card provider to transfer the balance on that card to your new ANZ card – that process will be complete within 14 days of us receiving your application.

In the meantime, while your balance transfer is being processed you’ll need to continue making any payments due on your old card (if you don’t you may be liable for overdue payment or interest fees from your existing card provider).
We’ll send you a letter to let you know when your balance has been transferred.

When you make a repayment to your new ANZ card, it will be applied to the transferred balance first. Once your transferred balance has been paid off in full, repayments will be applied to any new purchases or cash advances on your card. (This means that until your transferred balance is paid off in full, you won’t get any interest-free days on new purchases).

We can’t close your other card for you – you’ll need to contact the provider and ask them to close it. Until it’s closed you’ll continue to be liable for any repayments and fees due. Remember to check that all direct credits or debits have been redirected to your ANZ card account before you close your old one.

You can balance transfer any amount greater than $100, and up to 95% of the approved credit limit on your ANZ credit card. That’s to ensure there’s a buffer to cover any charges such as fees or interest that could be charged subsequently.

The special balance transfer interest rate only applies to the balance you’re transferring from a non-ANZ card to your ANZ card. For all other purchases or cash advances on your new card, the standard interest rate for that card applies.

You can transfer your balance from any non-ANZ Visa and MasterCard, American Express, GE CreditLine, Q Card, Farmers Card and most other store cards.