Skip to main content

Balance transfers for credit cards

What is a balance transfer?

A balance transfer is a way to consolidate your credit card debt. Transfer all or part of your balance from another bank to a Bendigo Bank credit card, receive a lower interest rate and save on your interest repayments.

The benefits of a balance transfer

  • Save money with our interest-free period.

  • When a promotional balance transfer offer expires, your balance will revert to the purchase interest rate, after the interest free period, not the cash advance rate.

  • Manage your credit card debt more easily when it's all in one place.

  • Join a bank that's consistently rated highly for trust and satisfaction.

How to make a balance transfer

Transfer the balance to a Bendigo Bank credit card from a credit card with another bank quickly and easily. Just follow these easy steps.

  • 1
    Visit our credit cards page to select the product that best suits you, then simply apply online or contact your local branch.
  • 2
    Choose to make a balance transfer when you're applying for your new Bendigo Bank Credit Card.
  • 3
    When completing your application provide the BPAY® details of your other credit card and the amount you want to transfer, and we will process the transfer.
  • 4
    Close your other credit card account and cut up your card; we are unable to do this on your behalf.

If you’d like to request to transfer the balance from another credit card onto your existing Bendigo Bank Credit Card, contact us.

How do balance transfers work?

Limits apply for balance transfer amounts

When opening a new Bendigo Bank credit card with a promotional balance transfer rate, you can transfer up to 80% of your approved available credit limit (less any applicable annual fee or balance transfer fees).

For balance transfers that are not on a promotional balance transfer rate, you may transfer up to 100% of your available credit limit (less any applicable annual fee or balance transfer fees).

Interest free days on purchases

Additional purchases attract up to 55 days interest free.4

At the end of the balance transfer promotion, any remaining unpaid balance transfer amount will attract the standard retail purchase interest rate and will receive up to 55 days interest free on the outstanding amount.

Monthly repayments are required

To ensure your promotional rate continues, you must make your monthly repayment as per your monthly statement, regardless of your promotional rate.

Monthly payments are applied to transactions with the highest annual percentage rate first, and then progressively towards those transactions with the lowest annual percentage rate. That means your balance transfer attracting 0% interest will be paid last.

Promotions are for a set time

At times we’ll have special offers with different promotional rates and periods.

As the special offers come with promotional rates, it’s important to ensure you pay off the transferred balance amount within the set promotional period. If a balance remains unpaid, it will attract the standard retail purchase rate.

Things to note

  • Your balance transfer amount and expiry will appear on the front page for your Bendigo Bank Credit Card statement. Log in to e-banking to view your statement at any time.
  • After the expiry of your promotional rate period, your Bendigo Bank Credit Card account will revert to the standard purchase rate for the product. All purchases and any unpaid balance transfer amount will attract interest calculated daily.
  • Any fees and charges associated with the account and the offer (like a balance transfer fee).
  • A balance transfer must be completed to a credit card in the same name or joint names.
  • Business credit cards are not eligible for promotional balance transfers.
  • Exclusions apply and you should read the terms and conditions of each individual product offer.

Things you should know

Terms, conditions, fees and charges apply. All information is correct as at 30 September 2020 and is subject to change. Full details available on application. Credit criteria apply. Interest rate and annual fee current at 30 September 2020. Rates and fees are subject to change. Credit provided by Bendigo and Adelaide Bank Limited ABN 11 068 049 178 Australian Credit Licence 237879.

4The up to 55-day interest-free period consists of your 30-day statement cycle, plus the 25 days to the payment due date. The number of interest-free days will vary for each transaction, depending on which day in the 30-day statement cycle the purchase is made.

®Registered to BPAY Pty Ltd ABN 69 079 137 518

Connect with us

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

© Copyright 2022 Bendigo and Adelaide Bank