ANZ 12 month balance transfer 0% interest for new and existing cards

[JohnK]

I had assumed the typical person doing a balance transfer would be doing it onto a new card.

It takes all kinds.

By the way I do have a number of credit cards that are not used for any kind of purchase.

 

[opusman]

Reading your quoted statement again, I can see it going either way, depending on what they mean by "due date" (ie: is it the monthly payment cycle, or the due date for the interest-free balance transfer to expire). Is the term more explicitly defined anywhere ?

If there's no interest free period then you're charged interest on purchases from the moment they hit your card. It's like how if you don't pay off your card in full by the due date, your interest free period is negated and interest is back-dated to the date of purchase.

 

[kt_kez]

Can you balance transfer multiple cards to this ANZ one or is it limited to one?

 

[JohnK]

Can you balance transfer multiple cards to this ANZ one or is it limited to one?

I suspect usual balance transfer conditions of minimum $100 per balance transfer up to 95% of your credit limit.

 

[drsmithy]

Can you balance transfer multiple cards to this ANZ one or is it limited to one?

I have previously balance transferred from multiple cards to an ANZ one.

Generally speaking, no reason you shouldn't be able to . Most application forms I've done have a few "from" accounts in the balance transfer section.

 

[dein_gesicht]

Just received a limit increase so I will be doing a full 95% balance transfer to another credit card which has nothing owning on it. I will then use those funds and put them against my mortgage - will save $1k over the 12 months

 

[puppysparkes]

This was a great deal when it was 0% for 9 months but outstanding at 0% for 12 months. I found the process very easy overall. Applied for the card, transferred the balance, then put the card in a draw so it's never used for new purchases. If you're looking to undertake additional balance transfers call 1300 131 026. This avoids the teleprompts and transfers usually experienced by calling 131314 or any other ANZ number. Have the BPay/account details ready and you should find it a smooth process.

 

[MrHanky]

This was a great deal when it was 0% for 9 months but outstanding at 0% for 12 months. I found the process very easy overall. Applied for the card, transferred the balance, then put the card in a draw so it's never used for new purchases.

Even better - I called ANZ to confirm this yesterday; under recent credit reforms they confirmed that the highest interest balance is always paid off first for each payment made to the card.

I confirmed this with an example to the phone representative; "if I BT $5k and then purchase $500 of goods in the same statement period, provided I pay $500 when my statement falls due, will I pay any interest?", to which he replied "That's correct - no interest provided you pay off the full balance of your purchases and the BT 0% period is still active."

 

[JohnK]

Even better - I called ANZ to confirm this yesterday; under recent credit reforms they confirmed that the highest interest balance is always paid off first for each payment made to the card.

I believe that statement is true only for new credit card applications since July 2012. Or was that July 2013.

 

[serfty]

I believe that statement is true only for new credit card applications since July 2012. Or was that July 2013.

July 1st 2012: Credit card reforms: What they mean for you | Compare Interest Rates, Home Loans, Credit Cards, Insurance, Savings Accounts - Canstar