Current Credit Card 0% Balance Transfer offers

tooblue on 29/01/2015 - 01:43
Last edited 29/01/2015 - 12:23

I am after some 0% balance transfer credit card and compiled a list so far. This is just a snapshot that I can find and some has transfer fee (citi) some have discount first year annual fee, some card offer bonus points which I cannot list all of them. In the table there are BT period, annual fee and offer expiry date.

If you know other cards that offer 12+ months please let us know. Sorry for the formatting. I don't know how to draw tables here, html code doesn't work.

Citi Platinum

24 months $199 2015-6-30

Coles No Annual Fee MasterCard

18 months $0 2015-2-28

Coles Rewards MasterCard

18 months $49 2015-2-28

Bankwest More MasterCard

18 month $70 2015-2-25

Virgin VA Velocity Flyer Card

16 months $0 2015-3-31

ANZ Low Rate/Platinum, First, Platinum

16 months Variance 2015-2-17

Virgin No Annual Fee Card

14 months $0 2015-3-31

West Pac Low Rate

14 months $59 2015-4-19

Citi Simplicity

12 months $0 2015-7-31

nab Low Rate, Low Fee, Premium, Reward

12 months Variance 2015-4-19

Financial

Comments

ozhunter on 29/01/2015 - 02:30

Thanks for the effort, but this site compares cards well and has more detail http://www.creditcardfinder.com.au/balance-transfer-credit-c…
- brazen00 on 06/02/2015 - 10:34
  
  I looked at that site too but can't work out how their comparisons work. The Coles No Fee Mastercard (possibly the best BT deal at the moment) isn't listed in any of their comparisons.
burningrage on 29/01/2015 - 08:34

What I would like to know if there is a deal for EXISTING customers.

ANZ typically has one at least once a year around Jan-Feb but so far have heard nothing…. :-(
- donbot on 29/01/2015 - 09:03
  
  I just managed one out of Citibank Signature as an existing customer (free for life card) - 12months @ 0%. Was using the card as my primary card prior to the offer being made.
  - AmpeD on 29/01/2015 - 11:52
    
    Does this mean you can effective offset your existing balance for 12 months?
    - donbot on 29/01/2015 - 12:00
      
      Not sure what you mean by offset existing balance? What I did was pay the existing balance off in full so card was at $0.00, then request the full balance transfer as a cheque to self which Citibank allow.
    - danield on 29/01/2015 - 13:21
      
      @tizey:
      Yeah, I rang Citibank for PIN reset and they offered me another Balance Transfer, it was the second one. Its just finished and was going to call them and see if I can get it a third time, its great for the offset account.
    - burningrage on 29/01/2015 - 15:27
      
      @tizey:
      
      That is awesome. I will do some check tomorrow on this.
      
      Almost time to roll over my last year's BT deal lol…
- TRS-80 on 04/02/2015 - 16:58
  
  +1
  
  I just got mailed one for my Westpac Earth Black, 16 months 0% BT for up to 95% of your credit limit from two other cards. I'll post the special offer code if anyone's interested. As with most BT, you lose your interest-free period on other purchases.
  - burningrage on 04/02/2015 - 19:58
    
    I am interested with the code, is that ok by you?
    - TRS-80 on 05/02/2015 - 02:18
      
      Sure, it's WABPJ. Dunno if it'll work for you, but you can redeem it in online banking (Services/Consolidate credit card balances) or phone 1300 361 851.
    - burningrage on 06/02/2015 - 10:13
      
      @TRS-80:
      
      Thanks man….
  - coolsteps on 01/03/2015 - 13:52
    
    TRS-80 when does the offer code end? thanks it works but before i apply i wish to know the deadline to apply?
    - TRS-80 on 02/03/2015 - 00:41
      
      Yesterday according to the letter.
    - coolsteps on 02/03/2015 - 20:16
      
      thanks applied today over the phone so i guess it will be accepted.
    - TRS-80 on 03/03/2015 - 00:36
      
      @coolsteps: Glad it worked for you :)
tooblue on 29/01/2015 - 10:59

I wonder which providers above give most generous credit limit. There's no point to have a Bt card with only $2000 credit limit. Anyone has experience?

Didn't find any offers for existing customers so far. If you already have a card with one bank, do they still do creidt check when applying for another type of card, e.g. existting Bankwest Zero card holder applies for More card?
- Rockhard on 04/02/2015 - 15:45
  
  They'll do a credit check unless you get a pre-approved credit card offer.
  
  I also would like to know about the credit limit.
  - coolsteps on 02/03/2015 - 21:17
    
    i got told today on the phone that new laws came into effect early this year so westpac dont offer preapproved credit limit increases any longer. can anyone confirm this?
    dam i should have accepted the limit increase offer back in Dec.
    - TRS-80 on 03/03/2015 - 00:36
      
      Yeah, the law did change so you now have to opt-in to credit limit increases. Once you do that, then they will send you them (I've received several since the law changed).
Cluster on 29/01/2015 - 11:38

I applied for a Coles fee free credit card this week and will pile about $5k of debt onto it. That $5k is within the current interest free period on my other cards (car registration, vet bills, etc) but using that $5k and putting it into my mortgage will save around $250 in interest. Then pay off the card in just under 18 months time. Winning.
- burningrage on 29/01/2015 - 15:28
  
  That card is my fall back if no one is offering by March 2015 when my first BT last year deal expired.
  
  However, they don't normally give high balances (I got one from Green MC for only $6k), I am talking numbers like $15,000.
  
  Also with the new Credit Reporting Scheme, I wonder how easy to apply for a new facility.
Mad Max on 29/01/2015 - 14:25

BT is good if you actually have a credit card debt that you cannot repay now. that way you save a lot because interest on CC can be up to 20%. Also good if you get the BT money out somehow and you put it in your mortgage (5-6% interest saving). Very marginally interesting if you only do it to put the BT money in online savings account because these days you only get 4% at best…and you have to pay tax on that so you may be left with 2.5% if you are lucky. Not really worth the hassle
- MITM on 29/01/2015 - 15:51
  
  "BT is good if you actually have a credit card debt that you cannot repay now"….
  
  …so long as you cut up the transfered card and begin paying off the new 0% debt. (There is still a minimum monthly payment to be made - but that wont pay off the debt)
  
  …unless you're expecting a windfall before the 0% period ends.
pliukit on 29/01/2015 - 17:54

Can i ask if anyone had the BT completed by the Coles Mastercard Offer at 0% for 18 months? My BT was approved more than 1.5 weeks ago and the payment has not gone through and obviously Coles M/C is already counting down… I was told it can take 3 days to a massive 30 days to go through. Was told they send BT payment by cheque. Any thoughts?
brazen00 on 06/02/2015 - 10:40

Just got a Coles No Annual Fee MC approved with 12k limit. Depends on income/expenses and credit score is my guess.

They told me BT takes 3-30 days as they mail a cheque and have to wait for the receiving bank to process it. Not so much of an issue as the 18 months at 0% starts from when you open the account not from when the BT is processed.
- tooblue on 06/02/2015 - 11:12
  
  How did you apply for BT? I specified I need BT when doing the application online. The card was approved immediately but didn't mention BT.
  - brazen00 on 06/02/2015 - 11:14
    
    I got a link to a BT form in the welcome email.
    
    In the end though, I just called their customer service. You need to wait until the day after you open the account as they have to wait for the card to process overnight.
Cluster on 21/02/2015 - 15:05

Coles' balance transfer offer is appalling. I faxed in my form on 6 February. By the 13th, one week later, nothing had happened. So I called Coles and was told by the phone rep that it's a good thing I called as there's an error flag on my account. They didn't bother calling me about it…

I had to reapply for the balance transfer over the phone, laboriously reading out all the details. I even had to provide the mailing address of NAB and BankWest so that Coles could send out a cheque. Amazing.

My Coles CC account was deducted by the required amount that day and I thought the balance transfer was finally going to go through. Well, a day later my available balance is at 100% again. Over a week later the balance is still 100% and there is no sign of the money turning up in my other CCs.

So its been two weeks and absolutely no action from Coles. When they say balance transfers can take up to 30 days, I think they mean they WILL take 30 days and you need to phone them regularly.

This is the worst balance transfer service I have ever seen. Time to sack some managers, Coles, as someone is not doing their job.
SoBargainVerySave on 21/02/2015 - 23:01

On top of 0% balance transfer NAB also offers 0% on purchases for 12 months.
Cluster on 27/02/2015 - 22:49

+1

Three weeks after sending in my balance transfer request to Coles, the money has not yet been deducted from my account. This means the cheques haven't been written, sent off, and processed on the other end yet, which will take another week.

I called Coles to ask what was going on and the phone rep said it can take up to 30 BUSINESS days, after which he corrected himself and just said '30 days'. "Sometimes it's processed sooner, you have to be patient". Ugh. He claimed I 'only' started the balance transfer two weeks ago (when I called to ask what was going on and had to reapply over the phone). Its actually been three weeks already.

HSBC takes 2 days to process balance transfers. Why is Coles so incredibly slow?

If you're looking to transfer your existing 55 days interest free balances to Coles, they might process them before the period runs out.
omghi on 04/03/2015 - 22:10

What are the chances that someone with $7k existing CC debt over 2 cards and a $50k pa income (pre tax) will get approved for a balance transfer card that would allow paying off both cards.

Asking for a friend (I actually am)
Cluster on 06/03/2015 - 00:44

Still waiting for my balance transfer to start, 27 days after applying for it. Sent a letter via express post to Coles. No response after 3 days. Called their customer care number again and spoke with a rep who told me the status was 'processing' and there's no more information. She said to call the target credit card provider banks to ask if the cheques have arrived. Seriously. I told her the money for the balance transfer has not even left my Coles account yet. 'Oh, that may sometimes happen, the balance isn't updated when the money is withdrawn'. Really…

I told the rep that I don't need one of the two balance transfers anymore, as Coles has taken such an extremely long time to process the transfer that I've already had to pay out the card myself. Apparently the transfer can't be canceled, and my other balance transfer needs to be completed by early next week or I'll have to pay that off in full as well. I'm very annoyed as I've brought forward some spending to package into the balance transfer, and now will be forced to pay off the entire amount anyway.

The rep sent an email to the back office processing center, but, it can take up to SEVEN days to get any response! If I performed like that at my workplace and took seven days to answer an email I wouldn't have a job.

Coles has the worst balance transfer service I have ever seen. If 30 days isn't enough time to START doing the balance transfer, why wouldn't they take 45, or 60, or more days? They claim to offer 18 months interest free but from what I've seen they'll spend the first month sitting on their hands doing nothing.

Coles has hitched its wagon to GE Money, an inferior credit card service company that can't process basic paperwork. I had an entire home loan refinance applied for, inspected, approved, and delivered within 25 days with UBank. Coles can't even process a simple cheque during that time. Appalling service from Coles.
Cluster on 10/03/2015 - 17:27

After 32 days since starting my balance transfer I called Coles customer care again, and this time was put through to a very helpful lady. She said there's little to no record/notes of my previous calls, and that ALL my balance transfers have been canceled. I explicitly and without ambiguity stated to the reps last week that I wanted one canceled, and the other to be processed as soon as possible. So Coles/GE Money canceled both.

I was given the option of reapplying for the balance transfer again, with ANOTHER 30 day waiting period. Coles did not extend the 18 month interest free offer by another month after they, solely at their fault, introduce massive delays to the process before ignoring my instructions.

Coles/GE Money do not keep records/notes, do not follow direct and clear instructions from the customer, lose paperwork, and take weeks to process basic banking functions.
- Crazy Diamond on 11/03/2015 - 01:03
  
  I don't think I'd cope if that all happened to me - terrible service. What's worse is that I bet their systems and procedures don't take 7 (or 32!) days to start charging interest if you don't meet a minimum payment on the BT if it's ever set up.
  
  Stick with it if you/your finances can handle it - as you're getting free cash from them (ie it's costing them via money markets) you'll just now need to work out what to do with the eventual positive balances on your other cards. I know from experience NAB has easy free online transfers/withdrawals of positive credit card balances to their other savings accounts (with a few provisos ie don't send the card balance negative in that 24 hour period through other purchases), but I haven't yet done similar with BankWest. Good luck
- GoogleFroogle on 11/03/2015 - 23:56
  
  Yeah, These guys suck really. Absolutely no feedback. My wife has been waiting for ages for the BT from Coles, it's highly unlikely to happen.