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What is a balance transfer and who’s eligible?

It’s simple – a balance transfer means moving the balance from one or more credit cards or store cards to a new or existing credit card.

Balance transfers may allow cardholders to access a lower interest rate or take advantage of an interest free period offer.

You could be eligible for a Westpac balance transfer if you are transferring the balance from a non-Westpac card to a new or existing Westpac card.

Streamline credit card management
to one statement and monthly repayment to avoid paying multiple rates and fees, provided you close your previous cards

Save credit card interest
when you make the minimum monthly repayment. Use our balance transfer calculator to see how much you can save

Make the most of an interest free period
to help you focus on repayments and pay your balance down sooner


What to expect

Transferring to a new card?

  • Apply online in 10 minutes, get a response in 60 seconds.
  • Consolidate up to 3 non-Westpac Australian issued credit, charge or store cards.
  • Transfer up to 95% of the limit available on the Westpac card you’re transferring to.
  • Take advantage of our 0% p.a. offer on balance transfers for up to 12 months when requested at application. After the promotional period, the balance transfer rate switches to the standard variable purchase rate.1 New cards only, offer valid until 28th June 2017.
  • $0 annual fee in the first year for Westpac customers.2

 

Transferring to an existing card?

  • Request a balance transfer online at any time in 5 minutes, get a response in 60 seconds. Use promotional code PAAM5.
  • Consolidate up to 2 non-Westpac Australian issued credit, charge or store cards.
  • Transfer up to 95% of the limit available on the Westpac card you’re transferring to.
  • Take advantage of our 0% p.a. offer on balance transfers for 12 months when requested at application. After the promotional period, the balance transfer rate switches to the standard variable purchase rate.1
Things you should know

Fees, charges and credit criteria apply. Read the terms and conditions available at request before making a decision. Offers are not available in conjunction with any special offers that are not listed on www.westpac.com.au. Switches, upgrades, customers accessing employee benefits or packaged cards are ineligible.

1. Balance transfer promotion: The promotional balance transfer rate is available when you apply for a new Westpac credit card (excluding Altitude Platinum and Altitude Black) between 21st April 2017 and 28th June 2017 and request at application to transfer balance(s) from up to 3 non-Westpac Australian issued credit, charge or store cards. The rate will apply to balance(s) transferred (min $200 up to 95% of your approved available credit limit) for 12 months, unless the amount is paid off earlier. The variable purchase rate will apply to balance(s) transferred but left unpaid at the end of the promotional period. The variable purchase rate applies to balance transfers requested at any other time. Interest free days don’t apply to balance transfers.

2. $0 annual card fee in first year for existing Westpac customers promotion: The first year annual card fee waiver is available to existing Westpac customers who apply for a new Low Rate or Altitude credit card by clicking on the Westpac customers 'Apply now’ button via westpac.com.au between 21st April 2017 and 28th June 2017. The first annual card fee will be debited on the 12 month anniversary of the first transaction on your account and annually thereafter.