ANZ 12 Month Balance Transfer Card, up to 95% / No BT Fee / No Annual Fee in First Year

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Priceless Class on 22/12/2016 - 09:42 campaigns.anz.com (586 clicks)
Last edited 22/12/2016 - 15:21 by 1 other user

Hi Folks,

For those not chasing points, but are after a low/no cost balance transfer option or are looking to roll over an existing balance transfer coming to the end of its life, this card might be for you. An exclusive offer available through finder.com.au, the ANZ platinum credit card offers:

0% for 12 months on balance transfer.
Balance transfers up to 95% of your approved credit limit.
$0 annual fee for the first year / $87 if you keep past the 12 months.
Low minimum income requirement of $35000 with min credit card limit of $6000.
Minimum monthly repayment of 2%

Example of Savings against a 4% home loan offset account.
On a $5700 balance transfer, you will save around $190.
On a $10000 balance transfer, you will save around $332
On a $15000 balance transfer, you will save around $498.

Via Finder

For comparison on the ANZ site the same ANZ platinum card is offering 18months on balance transfers but with a 3% fee.

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• 

  uccoffee on 22/12/2016 - 10:16

  +1

  how about existing customers…

  • 

    Priceless Class on 22/12/2016 - 10:21

    +2

    Are you suggesting banks have some loyalty to existing customers?

• 

  Pravis on 22/12/2016 - 10:26

  +1

  this is an ongoing promotion for existing customers who have an account with ANZ and it has been there for a long time, as per the employee at ANZ. The sad part is you cannot apply online as there are not any visible offers like this, and you have to visit any ANZ bank in person. my question is, can any existing ANZ customers (who have already used balance transfer for one year and have paid off) are eligible to apply for balance transfer again?

  • 

    uccoffee on 22/12/2016 - 10:29

    you can always apply for balance transfer, but usually not 0% with out any fee … =

  • 

    potm on 22/12/2016 - 10:53

    ANZ have given me new balance transfer offers before the old one expires for over 3 years now. The last one had a 1% fee for 18 months though, still better than the 3% they were charging to new customers on the website so I took it.

    • 

      burningrage on 22/12/2016 - 11:03

      I was offered 0% with 3% Fee 12 months. That was last week.

      If someone has better luck, please let us know. Maybe there is a Promo Code we need to mention over the phone.

  • 

    powerhead on 22/12/2016 - 14:38

    Can you confirm with your contact what balance transfer promos are available now for existing customers?

    I too have called a few weeks ago and was only offered the one with 3% transfer fee, which didnt sound like a good deal to me

• 

  tidie on 22/12/2016 - 10:34

  Could someone explain how I can use this to save on home loan interest please? Thanks in advance!

  • 

    Turd on 22/12/2016 - 10:58

    -2

    Lol

    Ask anz

  • 

    Priceless Class on 22/12/2016 - 13:46

    +1

    You need to think that a Balance Transfer on a 0% credit card is essentially a free loan.

    On the minimum credit limit balance transfer amount of $5700, where you only make the minimum 2% repayments for the first 11 months, you will save around $190 in homeloan interest on a 4.2% loan as that money you would have otherwise paid is sitting in your home loan account for 11 months reducing your interest.

    You need to remember to pay off the remainder in the 12th month (or you can try your luck and keep rolling the transfer). I'm now into my third roll-over, with some of the original funds from things i spent 2 or 3 years ago and each time, I'm able to get a little bit more. Went from 5 to 12 to 15.

    It's a game. You've got to be good with your management skills and you MUST have the money already. Do not play this game if you're the type of person that overspends on a credit card or that has revolving interest charging credit card debt.

    • 

      tidie on 22/12/2016 - 13:56

      Thanks for your explanation! but I don't understand how I can put this 'free loan' into my offset account, by cash in advance?

      • 

        Priceless Class on 22/12/2016 - 14:43

        +1

        Let's say you have 2 credit cards with a due balance of $6000.

        You have 2 choices.
        A) You can pay off the $6000 by taking the money out of your offset account, meaning you will start paying interest on this amount immediately at whatever your home loan interest rate is.
        or
        B) You can take advantage of a 0% balance transfer offer on another credit card, only having to pay a small monthly amount and leaving the bulk of that money in your offset thereby reducing your interest you would have paid on your home loan.

      • 

        tidie on 22/12/2016 - 14:52

        @apric101:
        I see, so basically I need to owe my current bank a significant amount to take advantage of this 0% balance transfer deal.

      • 

        Priceless Class on 22/12/2016 - 15:27

        +1

        @tidie:

        If you don't spend much each month, I guess it is harder to take advantage of.

        In a busy month, I can push through 5k on credit easily - daily living / electricity / insurances etc / rego etc / shopping gift card purchases etc

        Maybe look at 0% purchase deals instead which might be better if you don't spend too much.
        https://financialservices.coles.com.au/credit-cards
        Coles have a no annual fee and 0% on purchases for 15 months.
        Build up a balance on that and then use that to do a balance transfer in the future.

      • 

        tidie on 22/12/2016 - 15:52

        @apric101:
        Thanks very much for your time and input, that was very helpful

  • 

    seboya on 22/12/2016 - 16:30

    https://www.reddit.com/r/fiaustralia/comments/3qv89l/credit_…

• 

  Bellpop on 22/12/2016 - 10:47

  Where the QFF points at…

  • 

    Priceless Class on 22/12/2016 - 14:34

    For those not chasing points…

• 

  mikmac on 22/12/2016 - 11:10

  +3

  The Westpac offer is still on available if you're looking for a good BT and 1% on purchases for 12 months. $0 annual fee first year.

  • 

    Priceless Class on 22/12/2016 - 14:46

    Agreed the westpac offer is better.