Credit Cards That Can Balance Transfer From a Personal Loan

Using a balance transfer for a personal loan in 2026

Balance transfers are a smart way to pay off debt while avoiding interest. However, many people don’t realise you can transfer more than just credit card debt: personal loans and Buy Now Pay Later balances can be transferred in some cases too.

This is more than just a handy way to keep your debt in one place. It means you can pay off several types of debt with no interest accruing. That’s rarely the case in other debt consolidation strategies, and it’s a vital tool because in the last quarter of 2025, Aussies borrowed $9.3 billion in fixed-term personal loans. The average interest rate on personal loans is 13.87% p.a., which is why 0% balance transfers are such a smart debt repayment strategy.

Here’s what it looks like. Let’s say you have a $3000 personal loan being charged 13.87% p.a. You move your debt to a credit card with a 0% p.a. balance transfer offer for 12 months:

You can see from this data that paying the debt off with a 0% loan is faster and cheaper overall. You may pay a balance transfer fee (3%, in the example above, but some cards have no fee), but you’ll pay $1178 less in interest overall.

Of course, this assumes you can repay the higher amounts per month to clear the debt within the 0% promotional timeframe. You’ll need to calculate the monthly repayments and decide if it fits your budget.

Which credit cards offer balance transfers from personal loans, BNPL and car loans in 2026?

Only the NAB-issued credit cards Coles Mastercard, Kogan Money, Qantas Money and Virgin Money accept personal loans, under specific conditions. Some other types of unsecured debt are also accepted by these cards, which we’ll outline below.

⚠️Unless otherwise stated, credit cards by default only allow transfers from credit cards and possibly store cards to a new credit card. The above NAB-issued cards are the exception.

In general, you can expect that only some credit cards will allow transfers from other credit cards. This snapshot gives you an idea of the availability of transferring from other loans:

Explaining balance transfers from personal loans, car loans, home loans, Zip Pay, Afterpay and Humm

1. Standard credit card balances:

• Almost all balance transfer offers accept transfers from an existing credit card or store card to the new card.
• Most issuers only accept credit card and store card balances by default.

2. Personal Loans

• Only a few NAB-issued Australian credit card providers accept balance transfer requests from personal loans.
• These are typically brands under the NAB issuance network that explicitly list personal loans as eligible balances.
• The terms typically require a BPAY Biller Code and reference number that links directly to the personal loan account. But, not all personal loan lenders provide BPAY details, which means they are excluded from balance transfers.

3. Buy Now Pay Later (BNPL)

BNPL debt can sometimes be transferred if both conditions are met:

1. The BNPL provider offers a BPAY biller number; and
2. The credit card issuer balances from lenders other than credit or store cards.

BNPL providers in Australia that have BPAY numbers:

✔ Zip Pay / Zip Money
✔ Humm

• Afterpay currently doesn’t provide a BPAY billing option, which means you can’t balance transfer an Afterpay account.

4. Car loans, home loans and other secured loans

• These transfers are rarely permitted as a direct balance transfer.
• Some credit card sites state that “lines of credit” are accepted, but there is no guarantee that car or home loans are included. It’s certainly not standard practice to transfer a car loan or mortgage to a credit card’s balance transfer offer.
• If it were possible,, transferring a secured car loan would require the lender’s BPAY details and explicit approval from the card issuer in the terms and conditions.

Specific terms for requesting a balance transfer from a personal loan and BNPL

We’ve broken down each card that offers personal loan balance transfers below to help you see what’s available. Just remember to always check both the card’s PDS, and the terms specific to the balance transfer offer you’re interested in.

Coles Mastercard (including No Annual Fee and Low Rate)

What you can transfer

• You can transfer balances from other credit cards and eligible credit accounts (including personal loans and other unsecured loan accounts) where the lender provides BPAY details that match the account.
• Typically this includes a wide range of major Australian issuers.

How to apply

• The balance transfer request must be made as part of your application for the card. So, you’ll need to include the account number, BPAY biller code and the amount to transfer before submitting the application.
• Once processed, transfers are usually completed within about 7 business days from approval if done at application; if requested after account opening, processing is usually quicker (often 3 business days).

Transfer limits

• You generally can transfer up to 80% of your credit limit.
• Minimum and maximum transfer amounts (for example, a minimum of $100 or $500 depending on product/offer) are specified in the offer and the formal “Balance Transfer Request Authorisation Form”.

Exclusions

• You can’t transfer from another Coles credit card.
• Some lenders (e.g., Latitude Finance Australia) may also be excluded.
• While the card permits transfers from personal loans and similar credit accounts, the ability to actually complete a BPAY‑based transfer depends on whether the other institution supports BPAY repayments matching the account details.

Kogan Money Credit Card

What you can transfer

• You can transfer balances from most other credit cards and eligible credit accounts (including personal loans and other unsecured credit) as long as the account can be repaid via BPAY and the BPAY reference number matches the account you’re transferring.

How to apply

• You can request a balance transfer when you apply for the card online — the application form will prompt you to enter the account details (BPAY biller code and reference) and amount you want to transfer.
• Some offers also allow you to request a transfer after approval, but the promotional rate generally applies only if you request it within the specified period after card approval.

Transfer limits

• Total transfers are typically capped at 80% of your approved credit limit.
• Minimum transfer amounts and other limits are usually set in the specific balance transfer offer terms.

Exclusions

• You can’t transfer balances from another Kogan Money account or NAB‑issued credit cards from the same issuer group. Transfers must be from a different financial institution or store card.

Qantas Money Credit Cards

What you can transfer

• You can transfer balances from credit cards and other eligible credit accounts (including personal loans and certain unsecured credit accounts) as long as the account has a BPAY biller code and reference that matches.

How to apply

• Balance transfer requests can be made either:
  - During the card application (entering BPAY info and amounts before submitting), or
  - After the account is active by calling Qantas Money customer support and providing the required details.

Transfer limits

• Up to 80% of your approved credit limit can typically be used for balance transfers.

Exclusions

• You can’t request a balance transfer from another Qantas Money card.
• There are known issuers where BPAY and account number mismatches may mean the transfer cannot be processed (e.g., ING, Bendigo Bank, Latitude Finance, AMEX, credit unions, etc.). These cards are indicative only and change over time.

Virgin Money Credit Cards

What you can transfer

• You can transfer balances from most credit accounts, including:
  - Credit cards from other issuers
  - Personal loans
  - Lines of credit
  (provided they have matching BPAY biller codes and account details)

How to apply

• You can request a balance transfer either:
  - When you apply for a new Virgin Money credit card
  - After your account is opened by calling Virgin Money (or in some cases via online banking). The request typically needs to be lodged within the promotional window after approval.

Transfer limits

• he minimum transfer amount is usually $500, and the maximum is typically 80% of your available credit limit at the time the transfer is processed.

Exclusions

• Virgin Money may refuse to process transfers from another Virgin Money account.
• Some specific issuers may be excluded due to mismatches between the card number and BPAY reference (e.g., Bendigo Bank, ING, Latitude Finance, HUMM, etc.).

A walkthrough guide for requesting a balance transfer from a personal loan

These are the typical steps you’ll go through to transfer your balance from a personal loan or BNPL debt.

1. Application. Start the application process for the card you’ve chosen (such as Coles Mastercard, Kogan Money, Qantas Money, or Virgin Money). You’ll need your personal identification documents, income and expenditure details, and employment details.
2. Make the transfer request. During the application, you’ll be asked to submit a balance transfer request. Some cards will allow you to request a transfer after approval, but always check the card’s PDS to be sure.
3. Input the loan details. You’ll need to provide the loan account number, the BPAY Biller Code and the BPAY Reference Number that matches your account. These details will be available on your loan statement.
4. Wait for the transfer to process.
5. Close your old account. After the transfer is complete, you’ll need to close the personal loan account. You can do that by contacting the lender via phone or online.

An example of a balance transfer from a personal loan

Let’s say a person named Katie had a personal loan of $3000 charged at 12% p.a. She wanted to transfer the balance to the Qantas Premier Everyday card, which was offering 12 months interest-free on balance transfers.

Katie could save $360 in interest by transferring her personal loan and paying it off during the interest-free period.

Here’s what the process would look like:

• Katie would make sure she’s eligible for the new credit card and that the card allows transfers from a personal loan.
• She could apply for the balance transfer during the credit card application when prompted or after she’s been approved, depending on the card.
• To complete the transfer, Katie needs to provide details of her personal loan including the BPAY number.
• If there is a balance transfer fee, it will be added to the total amount transferred.
• The credit card provider will process the transfer.
• It’s up to Katie to cancel her personal loan.

What information will you need to provide?

Your chances of approval are higher if you can provide all the correct documentation. You’ll need:

✔ Final payout letter or figure: Have the final payout amount from your personal loan lender so you can input the exact amount during the request for a balance transfer.
✔ Loan statements: You may be asked to provide loan statements to demonstrate the amount you want to transfer to your new credit card.
✔ BPAY Biller Code and Reference Number: Before you apply, make sure the personal loan account has a valid BPAY biller code and a reference number that accurately identifies your account. Have it handy for the transfer request.
✔ Original loan agreement: Look over your personal loan or BPAY agreement to check for any early termination fees. You don’t need to supply this, but it’s good to know what fees will apply if you transfer your personal loan to a credit card.

Important things to know about balance transfers

• There are limits to the amount you can transfer. This will depend on the card, but expect to be able to transfer between 70% to 95% of your available credit limit. There may be a minimum amount too, typically $500.
• You can’t do a balance transfer between the same brand of card. For example, you can transfer ANZ to NAB but not NAB-to-NAB. The same applies for personal loans.
• You may not get interest-free days when you have an active balance transfer. That means you’ll pay interest on new purchases immediately.
• There may be a balance transfer fee. It’s not uncommon now to pay between 1% and 3% of the amount being transferred.
• You won’t earn rewards points on balance transfers.

Choosing a credit card for your balance transfer

There are a few simple steps to comparing cards with balance transfer features.

1. Look at the length of the 0% balance transfer offer. Choose a length that gives you enough time to pay off your balance before the interest kicks in again.
2. Look at the annual fee. Make sure the annual fee doesn’t cost more than you would be saving in interest on the balance transfer.
3. Check if the card accepts your type of loan. Remember, not all credit cards accept balance transfers from personal loans or other lines of credit.
4. Compare extra features to see if you’ll get more value out of one card over another. Other features might include no foreign fees or travel insurance.

Here’s a concise, plain-English blurb you can drop straight into your page. It’s written to be informative without sounding speculative or alarmist.

2026 balance transfer trends: fees are in, terms are shorter

We’ve watched balance transfer offers become a little less generous over the past couple of years. Interest-free periods have changed from up to 36 months to 24, with most capping out at 12 or 6 these days.

This change is likely due to proposed reforms by the Reserve Bank of Australia to reduce interchange fee income for card issuers, making it harder for lenders to sustain extended 0% introductory periods.

Balance transfers are still an effective debt consolidation tool, but it might be a good idea to explore it sooner and plan repayments carefully to get the most value out of the current offers.