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ANZ Platinum 0% Balance Transfer 12 Months, No Balance Transfer Fee, up to 95% of Limit ($0 Annual Fee - First Year)

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ANZ Platinum 0% Balance Transfer 12 Months, No Balance Transfer Fee, up to 95% of Limit ($0 Annual Fee - First Year)
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Priceless Class on 05/11/2017 - 09:25 campaigns.anz.com (1458 clicks)
Last edited 05/11/2017 - 09:29 by 1 other user

It's time to recycle those 0% debts for a further 11-12 months.
https://www.finder.com.au/anz-platinum-credit-card

Offered exclusively through finder.
Features include
- 0% for 12 months balance transfer rate.
- 95% of available credit limit for balance transfer.
-$0 annual fee in the first year. $87 if you decide to keep it. (don't)
-minimum income only $35000
-minimum repayment 2%
-minimum credit limit of $6000

Sitting the minimum $5700 balance transfer in the account for 11-12 months making only minimum payments, will net you about $230 against funds sitting in a 4.5% home loan rate

$10000 nets about $400.
$15000 nets about $600.
etc etc…

Yes it's 'invisible' savings.
No, there are no points, but it's real money on a spreadsheet.
Unsure of end date, but have put the end of this month.

Financial Credit Card

Related Stores

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closed Comments

  • diceman99 on 05/11/2017 - 10:00

    I dont get it.

    How can you get $230?

    • Peck on 05/11/2017 - 10:13
      +1

      In the example given $5700 balance transfer put into your mortgage offset account would save you $230

      • [Deactivated] on 05/11/2017 - 12:37

        Wouldn't you need a cash advance for this?

        • Priceless Class on 05/11/2017 - 13:33
          +3

          No. You rack up normal everyday costs over a month by buying pretty much everything on it. (normally using a points earning card)
          Then apply and request a balance transfer onto this new card.

          Alternately some credit cards have periodically offered up to 12 month 0% purchase rate as well, which makes it even easier to accrue balances if you aren't a big monthly spender. If you buy groceries regularly from coles / woolies, you can stock up on a few months of discounted gift cards through RACQ or Cashrewards as well.

          If you don't spend much, it's probably not worth it for you.

  • MaMan on 05/11/2017 - 10:22

    Not worth damaging your credit rating by being a credit card tramp (sorry could not think of a less offensive term). Might work for those in such dire circumstances. Lot of work to save a buck though IMO.

    • jonoz on 05/11/2017 - 11:34
      +2

      My credit rating went down 40 points doing a balance transfer, but I will save nearly $1000.

      Worth it in my opinion.

      I wouldn't however jump from balance transfer to balance transfer.

      • [Deactivated] on 05/11/2017 - 13:07
        +4

        Doing this for the past 2 years, saved $$$.. can't see the harm

        • Priceless Class on 05/11/2017 - 13:45
          +12

          I've been doing it for over 2 years and my rating has dropped from low 700's to mid-range 650's. I have saved at the end of my current cycles (3 cards finishing in 2-4 months) approximately $2500 in interest savings, so about $1250 each year

          The credit rating system is nonsense in Australia. I was a year into stoozing (at end of my first cycle) and went to refinance my home loan. Yes the bank wanted me to reduce my credit exposure, which I promptly did by paying off/closing excess accounts. As soon as I was able to show evidence of closed accounts, my refinance went through no problems and my credit rating actually increased with the mortgage to the mid 800's, and after settlement, I proceeded to start a new stoozing cycle with 3 new cards.

  • diceman99 on 05/11/2017 - 10:22
    +2

    how can you get $5700 from the Credit Card to the Mortgage offset account. My bank says its a cash advance and then charges high fees.

    • Baysew on 05/11/2017 - 11:03

      Which bank are you with?

      • Baysew on 05/11/2017 - 13:32
        +1

        I'm with ANZ

        ANZ won't do a Balance Transfer to an ANZ Credit Card.

        However say this offer was with another bank.

        You apply and get balance transfer of $5700 to your ANZ Credit Card

        You transfer from ANZ credit card to your Mortgage Offset Account (using Internet banking)

        The fee is nil, as your credit card has been placed in credit.

        If the account (based on transactions processed by ANZ) is in
        credit balance at the time we process the cash advance, the
        credit amount will offset the amount of the cash advance in
        the calculation of the 2% fee.

        ANZ PERSONAL BANKING ACCOUNT FEES AND CHARGES 18.09.2017

    • qtmai on 05/11/2017 - 11:25

      You will have to transfer to another credit card.

      Take the positive amount once the transfer is processed out by transferring it to a transaction account.

      *No bank can charge cash advance fee if your account is in the positive.

      • kyle on 05/11/2017 - 11:27

        Citibank does.

        • qtmai on 05/11/2017 - 11:29

          Make an official complaint. Any positive amount is technically your money.

          I’m pretty sure Citibank offers cheque to self for positive cc balance

        • Eeples on 14/11/2017 - 09:06

          My experience is that if you ring Citibank they will move your Credit Card excess to your other Citibank transaction account for free.

          Actually, I will be doing this tomorrow.

        • Eeples on 15/11/2017 - 17:05

          @Eeples:

          Just did this.
          No fee.
          Used citibank online chat.
          Told it takes 1-2 days.
          I printed out the chat.

    • F1Maniac on 05/11/2017 - 11:26

      M6ost banks just transfer money from cc to ur account if u had 0 balance in yr cc

    • Maximum64 on 05/11/2017 - 11:40
      +2

      You don't. You pay off your existing credit card with this one which then means you free up $5700 in cash you would have normally put onto your regular card, then that cash stays in the mortgage.

  • diceman99 on 05/11/2017 - 11:16
    -3

    I'm with ANZ
    I once used by Credit Card to buy groceries at Woolworths and I also took out $100. They charged me $20 for the cash advance. I never made that mistake again.

    • [Deactivated] on 05/11/2017 - 13:10

      Cash advance should be about 2-3%, but you would also pay interests often upwards of 20%

  • tuanphaus on 05/11/2017 - 12:27
    +2

    Applied St George last week. 24 months interest free balance transfer with first year free annual fee ($99 thereafter). No transfer fee with low interest rate upon expiration i.e. 13.xx%

    • myfeetarehappy on 05/11/2017 - 13:25

      Can't find this on their website…everything has 2% balance transfer fee. Do you have a link?

    • Priceless Class on 05/11/2017 - 13:47
      +6

      If you are paying any interest on credit card, you are using them incorrectly.

      • z28 on 05/11/2017 - 14:11
        +1

        Bank would disagree with you on this.

    • auna on 05/11/2017 - 18:40

      Man… I only got 20 months for my Transfer :(

      • Priceless Class on 06/11/2017 - 15:27

        Did you pay an annual fee or balance transfer fee?

        • auna on 06/11/2017 - 21:43

          Nope. Got charged a annual fee but got refunded as a courtesy. I had gotten 16 months one on Westpac last year too, however the St George one has travel insurance complimentary and lower interest.

        • Priceless Class on 06/11/2017 - 22:31

          @auna:
          Fair enough. Good on you for requestng the refund. It's always worth asking.
          As a general rule, you shouldn't be making purchases on a balance transfer card, as they generally accrue interest on purchases instantly while a balance is being carried.
          I don't ever intend on paying interest, so the rate doesn't worry me.

  • echelon6 on 05/11/2017 - 16:33

    Can you balance transfer multiple cards to this one?

    Or can I balance transfer into a bank account? e.g. if i approve for a massive credit limit of something like 50k, can I balance transfer 45k into my offset?

    • garbagetnt on 05/11/2017 - 22:55

      Usually can bt from multiple.
      Can only bt from other credit cards and not your offset.

      • echelon6 on 05/11/2017 - 23:02
        +1

        holy shit uno wat im gonna do im gonna bt all my ccs over to this one and save maybe.. wat 10k 4%pa is 400 per 10k and maybe if i get 30k limit thats 1200 not bad mang

        • chav on 05/11/2017 - 23:19
          +1

          put a small amount aside for some English lessons😁, just kidding-good logic

        • echelon6 on 05/11/2017 - 23:20

          @chav: hey man how are u

        • chav on 05/11/2017 - 23:21

          @echelon6:
          good thanks, guess I asked for that…;-)

        • echelon6 on 06/11/2017 - 00:37

          @chav: cuz u right

  • Maxdax on 05/11/2017 - 17:00

    sorry unable to find where it says in the link provided that there is no balance transfer fee?
    It says in the T & C - "ANZ will process the balance transfer requested and any applicable fees up to 95% of your available credit limit"

  • auna on 05/11/2017 - 18:41
    -2

    12 months is the lowest offer I have ever seen for balance transfers. Not a good deal at all

    • Priceless Class on 06/11/2017 - 15:24

      It is the highest one (currently on the market) with absolutely no cost. Many 24 month offers exist, but they all include annual fee's or balance transfer fees.
      This offer has no annual fee and no balance transfer fee.

  • beckieQ on 05/11/2017 - 19:07

    quick noob quest
    When you do the balance transfer, will ANZ make a credit check on your credit file? I just don't like the idea of another mark on my credit file.

    Nevermind. Found the answer in the above posts

    • OzBrogains on 05/11/2017 - 19:36

      Yes. It’s a credit card.

  • sagax on 05/11/2017 - 20:00

    Does ANZ do cheque to self?

    Otherwise, how are people getting their hands on the transfer? Are they just getting a positive balance on another credit card and asking for a cheque?

    • Priceless Class on 06/11/2017 - 15:26

      You need to have an existing balance transfer coming to a conclusion or be able to spend up big.
      All monthly purchases + a few grand of woolworths/coles discounted gift cards to make this work.
      You aren't getting cash. You are deferring payment and earning interest through an offset account.

  • Employeecryinoutloud @ ANZ on 05/11/2017 - 21:09

    Can I use this to balance transfer to my Me Bank account and earn the 3% interest (no cash advance fee)? What's the maximum credit on this?

  • striker5950 on 05/11/2017 - 21:11

    what is the maximum you can get??

  • mickmac on 05/11/2017 - 22:21
    +1

    Recently done this, actually had the card already and they offered me another 18 month balance transfer. Didn't want it as the annual fee would start, however they waived the annual fee so transferred 95% to my citibank credit card. Have a debit card with citi as well which they transferred the positive balance of the credit card to and then just transferred it to my offset account. Will save me about 2k on interest.

    • Priceless Class on 06/11/2017 - 15:06

      Was this with ANZ or another bank where they renewed the offer?

      • mickmac on 06/11/2017 - 16:40

        ANZ, this same card. Promotion was the same last year at this time.

  • myfeetarehappy on 06/11/2017 - 00:33

    Anyone doing multiple balance transfer crediting into their deposit offset accounts…or just one at a time?

    Seems like multiple would multiply mortgage interest savings.

    • mickmac on 06/11/2017 - 00:44

      I've got 4 separate (ANZ, Macquarie Hilton, Westpac and BankSA) balance transfers going at the moment.

      • myfeetarehappy on 07/11/2017 - 22:00

        Thanks. I have a 24 mth NAB one at $15k. Might get the 24 mth st George also.

  • xmas tree on 06/11/2017 - 04:41

    Just out of curiosity, can I balance transfer to overseas credit cards?

  • echelon6 on 06/11/2017 - 07:48

    Ok hypothetical - if I had a daily use cc at 5k limit and then I get approved for this new cc at 50k, can I use my daily 5k cc n times and balance transfer it over to the new 50k cc up to the 95% limit? Or do I need to do all my balance transfers at the start?

    • Priceless Class on 06/11/2017 - 15:23

      Can you clarify your question? I don't understand. 'Can I use my daily 5k cc n times?'

      • echelon6 on 06/11/2017 - 21:33

        so i use my 5k cc up to its 5k limit say 8 times and at the end of each 5k i bt the 5k over to this new cc, can o id othat

        • Priceless Class on 06/11/2017 - 22:28

          No. Generally the balance transfer is a once off at time of card application.

  • PAOK11 on 06/11/2017 - 11:04

    This is a risky proposition, you must be very organised. I personally pay my credit card off completely every month but in this example I would spend up big supposedly & balance transfer to a card with 0 interest for 12 months. Keep in mind I must remember to make the minimum repayment each month otherwise I will be charged late fees and interest. In most instances the interest rate is higher in these accounts. All the while, saving money in my offset account. Please confirm this is the loophole? cheers

    • Priceless Class on 06/11/2017 - 15:13

      I agree that if you are not an organised person, I do not recommend taking this approach.
      If you don't spend much or have a generally low income, I do not recommend this approach.

      If you think saving $230+ dollars is worth spending 20 minutes filling in a direct debit form for the minimum payment upon receiving the card and setting a calendar reminder to pay off the balance in 11 months, then go for it.

      • PAOK11 on 06/11/2017 - 15:37

        I'm a big fan of this but I don't have 6k to balance transfer

  • Haters.Inc on 08/11/2017 - 22:58
    -1

    I don't really like these types of BT deals, where you have to move existing CC debt onto a new card. Seems like a lot of trouble (buying big purchases on one card within 55 days then BT-ing) just to save a few $

    The BT deals such as this on the other hand are much better, as you can basically transfer 95% of the new card balance onto an existing CC with no balance, then transfer the credit amount to yourself as cash.

    E.g.

    1) Sign up for new ANZ card with a 20k limit
    2) Balance transfer 95% of the credit card limit ($19k) to my 28 degrees card, putting it in credit $19k
    3) Transfer $19k from my 28 degrees card to my bank account
    4) Now I have $19k interest free for X months

    edit oh and I forgot the last step

    5) Buy bitcoin with the 19k

    • Priceless Class on 09/11/2017 - 20:30
      +1

      That is quite literally the same offer with the same bank, except for 18 months vs 12 months.

      • Haters.Inc on 09/11/2017 - 21:00
        -1

        Oh I must've misread. It seems like everyone in the comments was talking about having to spend a lot on another card and then BT-ing the balance to this ANZ card. So I thought it was a different type of BT deal.

  • maddoglee on 20/11/2017 - 17:27

    Does anyone know if there is an email address I can send the direct debit request (cardpay) form to? or do I really have to fax / snail mail it?
    There is no email option on the form.

  • 9erence on 24/11/2017 - 23:41

    can anyone help me how to get balance transfer for existing customers without bank fee and 0% interest

    • Eeples on 28/11/2017 - 17:16
      1. Get a $0 balance on your ANZ card
      2. Ring up and ask for a fee free 0% balance transfer.
      3. If unsuccessful ask to cancel your card and they will transfer you to cancel cards
      4. Say you want to cancel… eventual they will ask you why… tell them you were refused the no fee 0% balance transfer
      5. You will be offered it (prolly only for 12 months)
      6. Have your BPay details ready for paying out your other credit card
      • 9erence on 29/11/2017 - 08:28

        Thanks I did the same and they are asked 3% bank fee. Still ok for me with my present situation.

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