Balance Transfer

What is Balance Transfer?

Balance transfers are a credit card feature that allows cardholders with good credit standing to transfer their outstanding balances to a different bank account but under the same owner, given they seek approval from the bank first. The client pays for the debt in fixed monthly installments up to 36 months and is able to save on monthly interest payments.

Being able to consolidate debts gives credit card holders the ability to take control of their debts and save money by combining credit card balances and other debts into a single account.