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(Existing Customers) ANZ - Credit Card 0% 18 Months Balance Transfer with No FEES

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(Existing Customers) ANZ - Credit Card 0% 18 Months Balance Transfer with No FEES
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sii on 01/08/2017 - 21:30 anz.com.au (1381 clicks)
Last edited 01/08/2017 - 22:35

Called ANZ credit Card's to see what offers they had for BT as I payed off my ANZ Low Rate Credit Card.

Interestingly, they offered 0% 18 Months straight away with no dramas and even with no BT fee. I was surprised about it because on their website for new customers the best offer is 0% for 16 Months with 2% BT fee, so had to double check twice and I head it right the first time :)

Just incase if any one wants to give it a go.

P.S: if some people don't know we can't to BT to the same bank. I transfered my balance to a different one

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  • jv on 01/08/2017 - 21:36
    -1

    straight away with no drams

    What are drams ?

    • sii on 01/08/2017 - 21:57

      Thanks for pointing out. 😂I was typing from my phone so kind of missed it

  • Htb on 01/08/2017 - 21:36

    I'm confused
    You paid off ANZ card and got BT from ANZ to ANZ?

    • jv on 01/08/2017 - 21:40
      -6

      I'm confused

      That's because this is an OzRumour, not an OzBargain

      The link provided does not have any details about what has been posted here.

      • gimli on 01/08/2017 - 21:58
        +1

        Chill bro

      • sii on 01/08/2017 - 22:00
        +4

        Mate, as it is for exisiting customer there is no link. The reason I posted ANZ credit cards link is to compare this offer with the "new customers only" offer.

        Honestly, this was first time I saw company to do more for an existing customer than for new customer.

        • sii on 01/08/2017 - 22:07
          +1

          @jv: 2 Other 'random' people confirmed it. - please see comments below

        • jv on 01/08/2017 - 22:10
          -7

          @sii:

          2 Other 'random' people confirmed it.

          Don't believe 'random' people on the internet…

  • JohnHowardsEyebrows on 01/08/2017 - 21:41

    I've already hit my spend target for my new ANZ card (to get bonus points)…wonder if I can just pay it off now and get the BT.

    OP, how much did they offer you? 100% of your limit?

    • sii on 01/08/2017 - 21:57
      +1

      They offered me 95%. Wish it was 100%

    • gimli on 01/08/2017 - 21:59

      Lol ozman

  • huey on 01/08/2017 - 21:51
    +6

    I can confirm this deal, they offered me 95% of my limit. No balance transfer fees.

    • JohnHowardsEyebrows on 01/08/2017 - 22:10

      Did you also get a text? Or just rang up and asked for it?

      • huey on 01/08/2017 - 22:47

        I rang up and asked. I ended up transferring it to a Credit card, putting into positive credit then transferring to my car loan.

        • JohnHowardsEyebrows on 01/08/2017 - 22:57

          Hmmm am used to getting transfers via cheque. Might have to find an old credit card to close and transfer to myself.

        • nightelves on 02/08/2017 - 08:03

          I'm a bit new to BT. So do they transfer your current credit card limit to a nominated credit card. If the card is in positive credit wouldn't you incur a fee for transferring it to a car loan or a home loan?

        • huey on 02/08/2017 - 09:03

          @nightelves:
          Correct, the nominated credit card needs to also be in the same name.
          No fee will be associated with as it's your money.

          It's the same as the good old days when people use to load up their 28 degrees card and withdraw from ATM's overseas.

        • nightelves on 02/08/2017 - 09:11

          @huey:

          Don't some credit flagged you for having positive credit on your cc?

        • JohnHowardsEyebrows on 02/08/2017 - 09:14

          @huey: Out of interest, will closing the credit card in question mean the company owes you the credit amount in cash? The kinds of transfers that are worth it, I'd need to take that route, rather than pay off existing cards.

        • huey on 02/08/2017 - 09:19

          @nightelves:
          I've never had an issue with ANZ, NAB, Citibank or Bankwest. Not sure about the others.

        • huey on 02/08/2017 - 09:21

          @JohnHowardsEyebrows:
          I'm not too sure what you mean but if you close a credit card with credit on it then yes, the outstanding credit will be owed to you.

        • JohnHowardsEyebrows on 02/08/2017 - 10:09

          @huey: I'm just working out how to turn a balance transfer into cash in the bank. It's easy with Citi (they write a cheque), but harder if they insist on a transfer. I wonder if they'd transfer it onto a debit card…

        • nightelves on 02/08/2017 - 10:54

          @JohnHowardsEyebrows:

          I had a positive credit from Amex when they refunded me the annual fee. They ask if you want the credit to your bank account or as a cheque.

        • mr chow on 06/08/2017 - 20:59
          +1

          @JohnHowardsEyebrows: Balance transfer into a credit card that you haven't used. Than withdrawal the cash and you should be fine.

  • wouldntyaliketoknow on 01/08/2017 - 21:53
    +2

    Got a text about it on Friday.

    • sii on 01/08/2017 - 22:10

      oh! Thats GOOD. I didn't receive any text about it. did you pay off your credit card and they sent you the text..?

      • wouldntyaliketoknow on 06/08/2017 - 16:13
        +1

        No I haven't paid it off yet.

        There is a promo code BT18.

        I also received a letter in post from them also.

        • sii on 06/08/2017 - 17:07

          Oh! Did you see any expiry date on the later or the message..?

        • wouldntyaliketoknow on 06/08/2017 - 17:08
          +3

          @sii: 15/09/17

  • [Deactivated] on 01/08/2017 - 22:32

    It is their strategy to retain credit card customers after ditching Amex. Still, $495 annual fee is too big for me even if I could BT for free.

  • csg001 on 01/08/2017 - 22:43

    Confirming I got this deal too when I called up to cancel in June, after paying off an existing BT.
    0% expiring in Jan19 so that'd make it 18 months.

  • IsTops on 01/08/2017 - 22:45
    -1

    Annual fee free?

  • carlJack on 01/08/2017 - 23:11

    Cool… I guess its time to extend my ANZ low rate BT by 18 months. Thanks mate

  • DaTa on 02/08/2017 - 00:39

    Yeah buddy just needed this to kill my woolworths card off thanks

  • halfnhalf71 on 02/08/2017 - 08:35
    -2

    It's technically not a 0% balance transfer. They charge a 2% fee of the amount being transferred. This seems to be double the norm. I've done 2 balance transfers to different cards in the last 2 years and they were 0% (1% fee)
    Edit: i probably should have read your entire comment. However the i think the title is still misleading. It's absolutely a 2% balance transfer and not 0% and we are here to help each other so i think that should have been then number in the title, not 0%.

    • huey on 02/08/2017 - 09:04

      This offer has zero balance transfer fees. I know because i took up the deal 2 weeks ago.

    • manshrew on 02/08/2017 - 09:36
      +2

      Should have re-read the comment.
      He said 0% for the offer he inquired about, 2% was the best on the website

  • busterau on 02/08/2017 - 09:51

    So it this offer for existing ANZ customers or ANZ Customers that currently have an ANZ credit card? I am an ANZ customer with a few credit card at various other institutions.

  • JohnHowardsEyebrows on 02/08/2017 - 10:15

    One thing to bear in mind, if you have the ANZ travel adventures card, you could spend $500, get the free flight and lounge passes, then the $225 in the second year would be an investment (fully tax deductible against the interest you've made), meaning the card pays for itself, and free flight in year 2 effectively.

    • DaHuntz on 02/08/2017 - 11:56

      @JohnHowardsEyebrows how is paying annual fee on credit card tax deductible? care to elaborate?

      • JohnHowardsEyebrows on 02/08/2017 - 11:58

        Your justification for the interest earned on the balance transfer was it cost you the annual fee.

        To clarify, it'll only work if you deposit the money into an interest bearing account.

        • powerhead on 02/08/2017 - 17:37
          -1

          ATO will only buy that argument if your original $500 were used for tax deductible expenses, if it was for domestic expenses than that claim is highly likely to be disallowed.

        • JohnHowardsEyebrows on 02/08/2017 - 17:42

          @powerhead: My argument would be I wouldn't have earned the interest without the annual fee.

        • powerhead on 02/08/2017 - 18:10

          @JohnHowardsEyebrows:
          the argument will not stand, unless the sole purpose of opening the account in the first place was to earn interest from the cash advance, but it wasn't as:
          a) you have used that account for private purposes;
          b) the offer was not available when account was opened;

          this is IMHO but i have some experience in this and strongly suggest you either seek professional advice on this (or a private ruling from ato))) on not bother with claiming at all (suggested option)

        • JohnHowardsEyebrows on 02/08/2017 - 18:17

          @powerhead: Well given that I'd be closing the account were it not for the BT, the second year's annual fee likely won't fall foul of your second point. I guess the 225 deduction probably isn't worth any trouble from ATO,but surely being taxed on interest earned opens up the ability to deduct costs incurred in being able to earn said interest.

  • coolsteps on 02/08/2017 - 10:22

    I can confirm this deal, they always offer me 95% of my limit. i think its up to 30k maximum lots per time so might have to make a couple calls lol?. No balance transfer fees every year so it i keep on paying my $30 annual fee for the first card. tip simply do a BT to a NAb credit card then transfer credit funds out to your savings account and invest in hi interest account no fees.

    • JohnHowardsEyebrows on 02/08/2017 - 10:29

      Ever tried transferring to a debit card?

      • coolsteps on 02/08/2017 - 18:02

        it has to be credit or store card

  • Turd on 02/08/2017 - 10:54
    +1

    Just did it over the phone! Guy seemed like he was bored and already knew many people called!

    lol

  • JuryWheel on 02/08/2017 - 11:30

    Anyone know when this offer ends? Have to weigh up if it's worth the hassle to put an extra $6k into my offset for 18 mths

  • FrutE on 02/08/2017 - 15:06
    +1

    I confirm that this deal works. I had just transferred the balance of my ANZ card to another card two days ago (other provider was offering 6 months) and just transferred it back now for 18 months at 0% and no balance transfer fees as described in this deal.

    As easy as phoning up and asking what deals they have on balance transfers for existing customers.

  • Turd on 03/08/2017 - 08:16
    +3

    Wow BT transfer is fast, rang up yesterday morning, got the money in other card today.

    24hrs or less later!

    24k! For 18months baby!

  • donbot on 03/08/2017 - 20:57
    +1

    I went to close my adventures card tonight, and got offered to transfer to the first card instead, with first year annual fee waived ($30 - immaterial anyway) and a 0% BT for 18months with no fees. Couldn't argue with that!

    Thanks OP!!

    • sii on 03/08/2017 - 22:21

      Hey @tizey,

      Just to confirm again: did you mean you transfered your balance from 1ANZ card of yours to the other ANZ card…?

      And did you actually go a branch or called the credits cards team or both..?

      • donbot on 04/08/2017 - 05:20
        +1

        No, what I did was attempt to close my travel adventures rewards card and was offered to change it to a and first card instead of closing it and with it came an offer of 18 month 0% balance transfer of I have debt from another card.

        I don't carry CC debt as payoff in full each monthtl, but i have an alternate card which I can transfer excess funds out of to my offset easily, so a BT is as good as cheque to self.

  • smoke87 on 03/08/2017 - 22:20

    Has anyone attempted to convince them to cut you a cheque as a personal loan and balance transfer that to the card, or say, to your home loan?

    • Turd on 04/08/2017 - 10:27

      Only Citibank does that, no big 5 in aust does that.

      • smoke87 on 04/08/2017 - 11:30
        +1

        Unfortunately Citibank have stopped doing this, at least at 0%. Best they could do for me was 3.4%.

  • JohnHowardsEyebrows on 04/08/2017 - 11:50

    I called last night bluffing about cancelling. The offered me 10k points (will get me a 40 buck credit, better than nothing), but wouldn't entertain a bt.

    • gadgetguy on 04/08/2017 - 13:38
      +2

      So I think you get passed to a different team if you threaten to cancel. I got this BT just by asking the member of the Cards teams who picked up my initial call.

      FYI I asked for "balance transfer" on the automated call system. And I called the Cards number (on the back of my card) not the general ANZ number.

  • gadgetguy on 04/08/2017 - 13:36
    +1

    Thanks OP - got a $30K balance transfer in progress now, no hassles at all.

    That's $1350 interest over 18 months or $75 per month. You can't beat free money :-)

    • Turd on 04/08/2017 - 16:14

      Only the government can give you taht, thanks KRudd

      • gadgetguy on 05/08/2017 - 18:00
        +1

        They are so quick on this. Only applied yesterday, $30k positive balance on my 28Degrees card today. Transfer now in progress to my saving account.

        • tess1988 on 08/08/2017 - 15:02

          So do you have to have $30k or more balance owing on your current card or have a statement showing that is owed in x number of days or can you ask Anz and they will give you $30k(or whatever limit they give you to go on another card)

        • gadgetguy on 08/08/2017 - 21:45
          +1

          @tess1988:

          Not quite sure I understand the question.

          I had zero balance on my 28D. I did 30k BT to it which puts it in credit by $30k. I then asked 28D to transfer the credit balance to my bank account (which is in progress). Very straightforward.

        • Krumby on 11/08/2017 - 17:10

          @gadgetguy: Do all banks allow you to transfer a "credit" on your credit card to a bank account or just 28Degrees ? Wouldn't that be considered as a cash advance most of the time ?

        • JohnHowardsEyebrows on 11/08/2017 - 17:35

          @Krumby: Pick your bank carefully. NAB is the best. I have a Classic Banking Account, and a basic credit card with no annual fee for life. So long as you don't go negative, no fee. It's very easy.

        • gadgetguy on 11/08/2017 - 19:07

          @Krumby:

          Ring and ask, I did before the transfer.

          I said I was expecting a large refund of a purchase which would put me in credit and asked if I would be able to transfer it out to a bank.

          With Bankwest (I think it was) I was able to transfer it out online.

        • Haters.Inc on 17/08/2017 - 14:39

          @gadgetguy:

          How exactly do you transfer the funds from your 28 degrees card to a bank account (ING in my case)? Can this be done online in the 28 degrees portal?

        • gadgetguy on 17/08/2017 - 17:27

          @Haters.Inc:

          call them.

        • Haters.Inc on 17/08/2017 - 17:50

          @gadgetguy: Thanks, just did. They confirmed I can transfer any positive balance on the card to another bank account for no fees.

          Can't do it online though. Will need to call them up again once I'm ready.

        • gadgetguy on 18/08/2017 - 09:19

          @Haters.Inc:

          My cash finally arrived in my bank (ING) today - 28D are pretty slow.

          If you already have a direct debit set up with them they can initiate the transfer process immediately (via EFT) but if not then they want a written confirmation of the bank details (they said it had to be fax(!) last time I did it).

          Or they can send a cheque. Don't opt for this - it took 4 weeks when I picked that option last time.

          Once they initiated the EFT process it took 10 days before the money left my 28D account then another two to arrive at ING. Which is a bit crazy but hey ho its free money.

  • walruspolishing on 04/08/2017 - 19:33
    +2

    cheers op, deal is still going I rang up this arvo asked for the balance transfer offer got it no problem

  • paul11 on 05/08/2017 - 17:52

    Tried today, they refused it …

    Then tried another deal …. 0% for 20 months, no BT fee .. $99/year fee.

    They approved … Transferred almost $10K without any issues …

  • JohnHowardsEyebrows on 07/08/2017 - 12:22
    +1

    Just got 95% on Black Rewards, thanks OP. Will try on Travel Adventures soon.

    • sii on 07/08/2017 - 13:45

      Great! It's good to hear it's still valid.
      A quick question how much limit did you get on the second ANZ card when you already had one ANZ card. thinking to apply for Travel Adventures Card but already have one ANZ card with 10k limit

      • JohnHowardsEyebrows on 07/08/2017 - 13:47
        +1

        Have 15k on Black, 10 on Travel Adventures. Applied for them a week apart.

    • DaHuntz on 12/08/2017 - 11:17

      Did you have a BT on the black card originally and then paid it off? Then ANZ offered u another BT?
      When I applied for the black reward card there was no BT promo so I didn't do any BT.

  • risska on 09/08/2017 - 08:22

    Rung up yesterday and said I had received an offer in the mail last month and wanted to know if it was still valid. They processed a BT 18 months interest free with no fee straight away for me on the phone. Handy as my laptop just died so I bought a new one with my AMEX for the points and now I can take my time paying it off.

  • TravelKon on 10/08/2017 - 13:49

    Once a BT is activated there is no interest-free purchases correct?

    • Turd on 10/08/2017 - 14:37

      yes, dont use the card!!!

      • gadgetguy on 10/08/2017 - 14:43

        Or if you have to use it, pay it off immediately.

  • Haters.Inc on 15/08/2017 - 16:32

    So just to clarify, if I have an ANZ credit card is the following possible?

    1) Call up ANZ asking for this BT deal
    2) Balance transfer 95% of my 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 cash interest free for 18 months?

    I always thought for Balance Transfers you were only able to move existing credit card DEBT from one credit card to another.

    Is it only ANZ credit cards that let you do this?

    • JohnHowardsEyebrows on 15/08/2017 - 16:39
      +2

      A balance transfer is not literally debt being moved around - it's a payment from one bank to another bank's credit card account (or, if with Citi, a cheque), which gets applied as if you yourself had paid the cash. As such, you can withdraw the amount from any credit card per that card's terms re positive balances. The important thing is to make sure those terms are favourable - you don't want a withdrawal fee, or, much worse, a cash advance fee (generally 2%). If your credit card won't give you the money without a hefty fee (NAB are probably the best), your only option to retrieve all the money is to close the account.

      • Haters.Inc on 15/08/2017 - 16:55

        Thank you very much for the clarification - makes a lot more sense now.

        Sounds like I'll need to call up 28 degrees and make sure that there is no fees incurred when transferring a positive credit balance to my ING or CBA bank account.

        Worst case if they do charge a fee - just close the account?

        I have a Citibank Plus account (debit Mastercard) I can use for international purchases - so if I close the 28 degrees then it's no major loss.

        • JohnHowardsEyebrows on 15/08/2017 - 17:06

          Yeah I cancelled my 28 degrees some years ago, when they introduced cash advance fees, and only use Citibank Plus.

        • gadgetguy on 18/08/2017 - 09:21

          I can confirm there is no cash withdrawal fee for a transfer out of a credit balance from 28D - they are just a bit slow to process it. I have done it twice (see above in this thread).

          And @hatersinc has confirmed the same.

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