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What is a balance transfer?

If you owe money on credit cards our no-fee balance transfer offer is a clever way to save on interest.

A balance transfer works by transferring your existing credit card balances onto a new Great Southern Bank Credit Card. If you take advantage of a 0% balance transfer offer (for example), you won’t pay interest for a set time on your original transfer amount, giving you time and space to pay off your new card.

Plus, with no fee to transfer your balance, you'll be saving money before you know it!

The benefits of a balance transfer

0% interest on your balance transfer for up to 33 months

When you apply for our special offer on our Low Rate Credit Card.2 Platinum Credit Card customers enjoy 25 months at 0% p.a.3

No balance transfer fee

Because getting on top of your credit shouldn’t cost you more money.

Simplify your finances

Combine your outstanding balances into one credit card and you’ll only have to remember one monthly payment – too easy!

How much can I balance transfer?

You can balance transfer up to 80% of your approved credit limit. The minimum balance transfer amount is $250.

CALCULATOR

How much can you save?

How does a balance transfer work?
1. Get a Great Southern Bank credit card
Apply online in less than 20 minutes. You only need your ID and a few documents to apply.
2. Apply for a balance transfer
Simply apply in online banking within 3 months of receiving your card.
3. Approval & transfer
If approved, your balance transfer will take 5-7 days.
Already have a Great Southern Bank credit card? Apply for a balance transfer via online banking

Get started today

Apply for a Great Southern Bank credit card and enjoy:

0% p.a. balance transfer for up to 33 months2

No balance transfer fee

Up to 55 days interest-free on purchases4

24/7 emergency assistance

Fraud protection

Low Rate Credit Card
Find some financial breathing space
Features
Special offer of 0% p.a. balance transfer for 33 months2
$0 annual fee in first year ($49 thereafter)5
Low competitive rate
Minimum credit limit $500
Purchase Rate
11.99
%
p.a.
Apply now Find out more
Platinum Credit Card
Rewards the way you like them
Features
0% p.a. balance transfer for 25 months3
$0 annual fee in first year ($149 thereafter)5
Earn Rewards Points on eligible spend6
Minimum credit limit $5,000
Purchase rate
19.99
%
p.a.
Apply now Find out more
AWARD WINNING

Awarded Best Balance Transfer Credit Card

Finder named our low rate credit card Best Balance Transfer Credit Card. We're always delighted to win awards, but our real passion is finding new and clever ways to help you manage your money.

Since 1946, we've been helping Australians reach their financial goals. We can't wait to help you reach yours, too.

FAQS

Balance Transfer FAQs

Can I take advantage of the balance transfer special offer?
Promotional balance transfer offers are only available to new credit card customers. The balance transfer must be applied for within three months of receiving a Great Southern Bank Credit Card. Balance transfers from your non-Great Southern Bank credit cards are eligible.
Is there a fee for balance transfers?
No. We don't charge any fees when you apply for a balance transfer to your Great Southern Bank Credit Card.
Do I still have to pay the minimum monthly repayment?
A minimum monthly repayment is required. Your minimum monthly repayment will be either 3.00% off your closing balance (including any balance transfers) or $35 - whichever is the higher.
Am I still eligible for the up to 55 interest free days on purchases?
If you carry over a balance (including an outstanding balance transfer amount) on your credit card from one month to the next, the 55 days interest free period does not apply and you are charged interest once you make a purchase.
What happens at the end of the 0% promotional balance transfer?
If you have not paid off your full balance transfer amount at the end of the 0% interest free period (aka the promotional balance transfer period) the remaining amount will attract the cash advance rate.
Ready to apply?
Make your credit work for you and apply online today.
Apply now

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Important Information

1 Lending criteria, fees, charges, GSB Credit Cards Conditions of Use apply. Great Southern Bank (GSB), a business name of Credit Union Australia Limited ABN 44 087 650 959 Australian credit licence 238317 (GSB) is the issuer of the GSB Platinum and Low Rate Credit Card. Offer is subject to change or withdrawal without notice.

2 This offer is available for approved applicants when they apply for a new Credit Card from 25 November 2021. This is a limited time only offer which may be withdrawn or changed at any time without notice. Offer not available to transfers from credit cards that you already have with us. Only one application per account accepted (consolidate up to 3 credit cards per application). The balance transfer application must be applied for within three months of the Disclosure Date in your Offer and Card Contract. Your total balance transfer may not exceed 80% of your credit limit. We may allow this to be exceeded at our discretion. The Promotional Interest Rate Period of 0% p.a. will apply for 33 months from the date the balance transfer application is processed. At the end of the Promotional Interest Rate Period, the Cash Advance rate (currently 21.74%p.a. as at 29 March 2022, subject to change) will apply to any part of the balance transfer which remains unpaid. The 55 days interest free period on purchases will not apply while any balance transfer amount remains outstanding. This means that all purchases will be charged interest at the applicable annual percentage rate.

3 This offer is available for approved applicants when they apply for a new GSB Credit Card from 6 May 2021. This is a limited time only offer which may be withdrawn or changed at any time without notice. Offer not available to transfers from existing GSB Credit Cards. Only one application per account accepted (consolidate up to 3 non-GSB Credit Cards per application). The balance transfer application must be applied for within 3 months of the Disclosure Date in your Offer and Card Contract. Your total balance transfer may not exceed 80% of your credit limit. GSB may allow this to be exceeded at our discretion. The Promotional Interest Rate Period of 0% p.a. interest rate will apply for 25 months from the date the balance transfer application is processed. At the end of that Promotional Interest Rate Period, the Cash Advance Rate (currently 21.74%p.a. as at 29 March 2022 and is subject to change) will apply to any part of the balance transfer which remains unpaid. The 55 days interest free period on purchases will not apply while any balance transfer amount remains outstanding. This means that all purchases will be charged interest at the applicable annual percentage rate.

4 The interest free period of up to 55 days applies to purchases when you pay your balance off in full by the payment due date. If you carry over a balance on your credit card from one month to the next, the 55 days’ interest-free period does not apply and you are charged interest once you make a purchase. No interest free period is available on Cash Advances or Balance Transfers.

5 After the first year has expired, an Annual Fee of $49 for Low Rate cards and $149 on Platinum cards will be applied each year. Fees are current as at 13 April 2021 and are subject to change.

6 Rewards are only available with the GSB Platinum Credit Card. GSB Platinum Rewards Points accrue in accordance with the “GSB Platinum Credit Cards – Terms & Conditions for Other Benefits”. Points relating to the use of the card will be awarded for credit purchases only, capped at 100,000 points per year. You will not earn Rewards Points on interest charges; government charges; bank fees; gambling, cash advances, balance transfers and card account adjustments resulting from disputed transactions.

7 Complimentary insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 of Level 16, 310 Ann Street, Brisbane, Queensland 4000 (trading as Allianz Global Assistance) under a binder from the underwriter, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 of 2 Market Street, Sydney NSW 2000 has issued an insurance group policy to Credit Union Australia Limited (GSB) ABN 44 087 650 959 and Australian credit licence 238317 of 145 Ann Street, Brisbane QLD 4000 which allows eligible GSB account holders and cardholders to claim under it as third party beneficiaries. Access to the benefit of cover under the "GSB Platinum Credit Cards - Terms & Conditions for Other Benefits" is provided to eligible GSB account and cardholders by operation of s48 of the Insurance Contracts Act 1984 (Cth) Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. The terms, conditions, limits and exclusions of the group policy are set out in the "GSB Platinum Credit Cards - Terms & Conditions for Other Benefits" which may be amended from time to time. CUA does not guarantee this insurance.

Mastercard and the Mastercard brand mark are registered trademarks of Mastercard International Incorporated.

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