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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 20th April 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: If you’re applying for a new Westpac credit card, the 0% p.a. for 12 months promotional rate is available between 31 January and 20th April 2017 when you request at application to transfer the balance(s) from up to 3 non-Westpac Australian issued credit, charge or store cards.

If you're transferring to an existing Westpac credit card, the promotional 0% p.a. for 12 months is available at any time when you transfer up to 2 non-Westpac Australian issued credit, charge or store cards to an existing Westpac credit card.

Switches, upgrades, customers accessing employee benefits or packaged cards are ineligible. The rates will apply to balance(s) transferred (min. $200 and up to 95% of your approved available credit limit) for the respective promotional period, unless the amount is paid off earlier. Card activation will trigger the processing of the balance transfer. The variable purchase rate will apply to balance(s) transferred but left unpaid at the end of the promotional period. Westpac will not be responsible for any delays that may occur in processing payment to your other card account(s) and will not close the account(s). Interest free days don't apply to balance transfers. The variable purchase interest rate applies to balance transfers requested at any other time . Interest free days don’t apply to balance transfers. Please note that you will not get the benefit of any interest-free days on purchases unless you pay the closing balance in full (including any balance transfer or any other promotional amount) by the statement due date each month.

2. $0 annual fee in first year for existing Westpac customers promotion: To be eligible for this promotion you must be an existing Westpac customer that applies for a new Low Rate, Altitude, Altitude Platinum or Altitude Black card by clicking on the Westpac customers 'Apply now’ button via westpac.com.au between 31st January 2017 and 20th April 2017. The first annual fee will be debited on the 12 month anniversary of the first transaction on your account and annually thereafter on the anniversary of the first annual fee.