![]() ![]() SBICPSL and its affiliates, subsidiaries, employees, officers, directors and agents, expressly disclaim any liability for any deficiency in the services of the service provider whose site you are about to access. You will access this site solely for the payment of your bills and you acknowledge that any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk and consequences. You are about to access a site, the accuracy or completeness of the materials or the reliability of any advice, opinion, statement or other information displayed or distributed through it, is not warranted by SBICPSL and shall be solely be construed to be set forth by the third party. Please acknowledge the disclaimer before proceeding further. By entering your name and contact number you can get instant approval through a customised deal.You are being re-directed to a third party site. ![]() To apply for a SuperCard as quickly as possible, be sure to check your pre-approved offer first. Now that you know how credit card balance transfer works, waste no more time in applying for the right card to avail this facility. ![]() Further, it helps you shop economically through credit card deals and discounts, and allows you to convert spends of over Rs. Then, simply send an SMS to 5607011 with the following details to start the process: Īpart from being one of the top balance transfer credit cards, the SuperCard also offers you other beneficial features like the ability to make 50-day, interest-free cash withdrawals at ATMs and avail a 90-day, interest-free loan by converting your credit limit. To qualify for this programme all you need to do is stay clear of any pending outstanding payments for more than 30 days. Its Transfer N Pay facility lets you utilise up to 80% of your credit limit for balance transfer purposes. One of the best balance transfer credit cards is the Bajaj Finserv RBL Bank SuperCard. Request a balance transfer and clear your debt.Īdditional Read: How to check credit card balance.Make a credit card application with your new issuer.Assess the balance transfer fees and decide whether the swap is worth it.Check that the credit limit is sufficient given your outstanding debt.Find a credit card that offers you a lower rate of interest.Check your current outstanding dues, interest rates and penalty charges.Take a look at how to go about transferring your balance to another issuer. The process is as straightforward as it seems. A step-by-step guide to how to do a credit card balance transfer With one, and not multiple, due dates to keep track of, you can repay your dues more easily. 60,000 on separate cards, through one credit card. 2 lakh, you will be able to utilise it to tackle outstanding balances of Rs. So, assuming that you secure a credit limit of Rs. You can carry out a credit card transfer to get rid of debts piled up on multiple cards, not just one. It’s best to do a cost-benefit analysis beforehand to have absolute clarity. To be effective, your savings should be more than the processing fees and additional costs that may be involved in the balance transfer process. Therefore before you carry out a balance transfer, calculate how much you will save on the whole. Here it is important to note that when carrying out a balance transfer, you typically have to pay a processing fee. For example, some come with a pre-determined 0% interest period, while others offer you nominal interest rates for a specified duration. How a credit card balance transfer worksĪpart from a low interest rate, certain balance transfer credit cards offer you other benefits too. Therefore balance transfers not only ease stress, but help you a significant sum. You can transfer your outstanding balance to this new card and clear the amount more conveniently, at a lower cost. Not all cards allow this in equal measure, so be sure to pick one smartly if this is your goal. ![]() What is a credit card balance transfer?Īs the name suggests, a balance transfer credit card allows you to carry out a balance transfer. The key benefit is that you will be able to clear your outstanding dues in one go, reduce your expenditure towards penalty charges and have just one, low-cost payment to make each month. In such a scenario, a balance transfer is beneficial as it involves transferring the pending dues to another financial institution that offers you an economical rate of interest. What is a balance transfer?Īssume that you have a significantly high outstanding dues on your credit card along with a high interest rate. But what is a balance transfer credit card? Read on to find out. It allows you to reduce financial stress and strengthen your money management abilities. When you have pending credit card dues coupled with compounding interest rates, you may want to carry out a balance transfer to ease the situation. ![]()
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