Balance transfer on existing card

[edy4eva]

At 18 months and 0% (effective 2% p.a. after the 3% BT fee) one cannot really pass this up, especially with a high credit limit.

So I call up and ask. ANZ says no, existing cards only get 12 months not 18.

This is the first time in 13 years with them where the existing card gets a different deal on BT than new ones.

Just curious to hear from others about their experience.

 

[JohnK]

In my experience existing cards don't get same deals as new cards.

 

[potm]

I actually got offered 18 months at 0% with only a 1% BT fee on my existing card, even better than the new offer.
I find ANZ to be quite good with giving out balance transfer offers.
In contrast though, I seem to be lacking in new offers from Citibank which everyone else seems to get all the time.

 

[edy4eva]

I actually got offered 18 months at 0% with only a 1% BT fee on my existing card, even better than the new offer.
I find ANZ to be quite good with giving out balance transfer offers.
In contrast though, I seem to be lacking in new offers from Citibank which everyone else seems to get all the time.

May I ask what card is that? And was this a targeted offer via mail?
Also was there a limit to the BT apart from the usual 95% of available balance?

 

[JohnK]

In contrast though, I seem to be lacking in new offers from Citibank which everyone else seems to get all the time.

I haven't had a Citibank offer in a while.

ANZ usually quite good with balance transfer offers. Think my last balance transfer offer 0% with 2% balance transfer fee.

 

[potm]

I have the plain ANZ platinum card. It's always an individual offer attached to my account. Usually by text message and/or physical mail.

Other than the 95% limit there's also a max of 30k that can be transferred.

 

[JohnK]

Other than the 95% limit there's also a max of 30k that can be transferred.

Is that 95% of your limit or 95% of your available credit limit? If your conditions are the same as my ANZ credit card (95% of available credit limit) you should be able to balance transfer ~100% of your total credit limit assuming that an upper threshhold has not been reached. Well not quite 100% but very close.

 

[JessicaTam]

I have the plain ANZ platinum card. It's always an individual offer attached to my account. Usually by text message and/or physical mail.

Other than the 95% limit there's also a max of 30k that can be transferred.

What card are they offering?

 

[edy4eva]

Is that 95% of your limit or 95% of your available credit limit? If your conditions are the same as my ANZ credit card (95% of available credit limit) you should be able to balance transfer ~100% of your total credit limit assuming that an upper threshhold has not been reached. Well not quite 100% but very close.

And you can do two balance transfers in order to use as much of the limit.

The thing is, at 3% transfer fee, a BT is of little value. A year and a bit ago it was 2% and before that 1%.

 

[BillytheFIsh]

I regularly (at least once a year) get balance transfer offers on my existing Westpac Altitude Black card - most recently 0% for 20 months with no BT fee to match the new cards offer. I rarely take them up though.

Might be worth considering a WBC card if that is of value to you.

 

[JohnK]

And you can do two balance transfers in order to use as much of the limit.

The thing is, at 3% transfer fee, a BT is of little value. A year and a bit ago it was 2% and before that 1%.

Agreed if you don't carry a balance. A few of my cards with large balances are back up to 22%+ interest as I cannot shuffle balance transfers around with limited spare cash and limited offers.

 

[potm]

Is that 95% of your limit or 95% of your available credit limit? If your conditions are the same as my ANZ credit card (95% of available credit limit) you should be able to balance transfer ~100% of your total credit limit assuming that an upper threshhold has not been reached. Well not quite 100% but very close.

I always zero out my card so they are the same but I'm pretty sure it's the total credit limit.

Like the above poster I also recieved 0% for 20 months from westpac on my existing altitude black to match the new offer. Anz and westpac are definitely the most generous with bt offers for existing cards from my experience.

 

[JohnK]

I always zero out my card so they are the same but I'm pretty sure it's the total credit limit.

ANZ allows 95% balance transfer of available credit limit on my ANZ low rate Visa.