You can apply to move the outstanding balance from certain non-ANZ credit or store cards to an ANZ Low Rate Visa, and pay a low interest rate on the balance transferred for a fixed period of time. Our balance transfer rate offer is currently —% p.a. on balances transferred for the first two years—, but can change.
When a balance transfer happens, the amount transferred plus any existing outstanding balance on the ANZ Low Rate Visa must not exceed 95% of the approved credit limit. For example, the approved credit limit is $2,000, and there have been no other purchases, cash advances, or balances transferred. So, a balance of up to $1,900 can be transferred from a non-ANZ credit or store card.
Paying a transferred balance off during the low-rate period, and not using the existing credit or store card if it’s at a higher rate, could help save on interest costs by paying off the debt at a lower interest rate.