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Balance transfers

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

Transfer your balance

Offer

Pay 1.99% p.a. on balances transferred for the first year

and $0 annual card fee for 1 year

 

See important information about this offer

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 to ANZ and pay just  for 12 monthsdisclaimer on that balance.

ANZ Balance transferClick to play video

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

$
p.a.
By transferring your balance to an ANZ Low Rate Visa, you could save:
- over 12 months
Apply for an ANZ Low Rate Visa
This is not an offer of finance by ANZ. The calculator provides an estimate only and compares the interest rate on your current card (as entered by you) with the interest rate on the ANZ Low Rate Visa. It does not take into account the details of your other provider credit card, including the applicable features, terms and conditions, fees and any possible costs associated with repaying the balance or closing your card. The ANZ Low Rate Visa requires a minimum monthly repayment of 3% of the outstanding balance (minimum $10) by the due date each month. This calculator 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 or fees. Savings are calculated using ANZ’s balance transfer rate of 1.99% p.a. After twelve months our standard purchase interest rate for ANZ Low Rate Visa (currently ) 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. Annual card fee of $35 p.a. 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 ANZ card, it will generally be applied to the transferred balance before any purchase or cash advance. 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 - however the balance transfer cannot cause you to exceed 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 most non-ANZ Visa or Mastercards (ASB, Bank Direct, BNZ, KiwiBank, TSB or Westpac), American Express, GE CreditLine, Q Card and Farmers Card.

After the balance transfer period the our standard purchase interest rate for your ANZ credit card (currently 13.90% p.a. for ANZ Low Rate Visa) will apply to any remaining balance transfer amount.

  

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Important information

Interest rates are subject to change. Lending criteria, terms, conditions and fees apply to all ANZ credit cards. See Rates, fees and agreements for more information.

This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. An ANZ Authorised Financial Adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.

Balance transfer offer:  Offer available for a limited time. Balance transfers can be made from most non-ANZ Visa or Mastercards (ASB, Bank Direct, BNZ, KiwiBank, TSB or Westpac), American Express, GE CreditLine, Q Card and Farmers Card. Full details are contained in the ANZ Credit Card Conditions of Use available from anz.co.nz or any branch. After 12 months our standard purchase interest rate will apply to any remaining balance transfer amount. Standard interest rates for ANZ Low Rate Visa (currently  on purchases and   on cash advances) apply to new transactions and repayments will generally be applied to balance transfer amounts before new purchases.

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