✔ Personalized offer that suits your finances and credit health
✔ Best product with lowest possible interest rates
✔ Transfer your Home Loan/ Personal Loan/ Credit Card Balances
Benefits of Balance Transfer
→ Move to a cheaper cost loan
→ Can also avail top up
→ Debt consolidation
Credit card balance transfer is transferring the credit balances of one or more credit cards to one credit card with lower interest rate or zero percent interest rate on particular period of time. This balance transfer of loan amount helps to maintain the lesser interest rate or low interest rate.
Make sure to repay the debt amount before introductory period will get over to lower or zero percent interest rate.
Not able to pay the amount of debt or credit card amount which is being transferred before the time period will cause certain percent of interest to add on for monthly payment.
With our credithelpindia.com team support and help on advice you can easily transfer your credit card balance to the lower or zero percent interest rate credit card account.
For zero percent interest rate credit transfer, some banks only collect the percentage of transfer amount in the balance transfer.
This type of faults will be avoided if you go with our credithelpindia.com expert. Their advice is to make their customer get beneficiary by their guidelines.
Choosing of wrong credit transfer credit card will seriously hurt your credit score.
Repayment of the credit transfer value should be on time to make sure. If delay in credit repayment that will lead you to pay for interest.
But you can avoid from getting hurt of your credit score by regular repayment before the duration gets end.
Credit transfer may help you from high paying interest rate to zero.
If not maintained properly it might hurt you.
There is duration for zero or low payment credit score. If the time period gets over then the jungle of interest pops up.
Check on the interest rate value, after the limited period of balance transfer offers.
Make sure the interest rate should be below the level of already paying interest rate of yours.
If not there will be sure wound when you are not upon to the correct repayment person.
Yes, the impact of transfer of balance will affect your credit score.
The hard inquiry will be added to your credit score reports for a new credit card, which affects the accounts age which decreases. Which is a cause of negative influence in your credit score.
It may changes if you didn’t made any changes to your other lines of credit card, then your utilization towards the credit card will decreases. Which is a cause of positive influence in your credit score.
This will motivate you to pay the credit amount before the period of utilization period gets over.
If unable to pay the amount before the zero percent interest rate gets over, percent rate of interest should be paid is lesser compared to the other credit cards.
Credit card 1 | Credit card 2 | New transfer credit card | |
---|---|---|---|
Current balance | 150000 | 300000 | 0 |
Credit limit | 300000 | 500000 | 100000 |
Interest rate or APR | 18 percent | 22 percent | 0 percent ( up to 12 months after that 14 percent ) |
Time Period | 15 months | 24 months | 0 months |
Here the utilization of amount failed to be paid during the zero percent period then you have to pay more amount of interest compared to other 2 credit cards.
This will seriously affect the credit score of yours and payment will be above your willingness to pay.
There is some task left to you after clearing your credit transfer balance
For this all denial of transfer credithelpindia.com will give hands to make you get your card sanctioned.
Before applying for new credit card for balance transfer, with the guidance of credithelpindia.com make check on it,
Denial may due to low income for the individual also.
Missing of payment or lower payment or forgotten to pay the credit card payment will impact the customer in a way which decrease in credit score, increase in debt amount and make you pay more and more for the consideration.
For example, The individual’s credit payment statement states that the balance of payment should be of 10000, the debt is being missing to pay for the month or reduce in payment about 1000 the balance amount of 9000 will be considered as debt and interest payment done for month will be considered as 700 as interest amount and the balance amount be only considered as principle amount.
For the next month due the balance of repayment about 9700, if there is any add on value of credit purchases which is also added with the balance amount and totally being paid.
This type rising in the debt amount will be riskier for the payee while paying the credit amount.
With our credithelpindia.com team support and help on advice you can easily transfer your credit card balance to the lower or zero percent interest rate credit card account. For zero percent interest rate credit transfer, some banks only collect the percentage of transfer amount in the balance transfer
Within the given period of time the transfer of balance credit for new card, make free repayments.
If unable to pay the amount before the zero percent interest rate gets over, percent rate of interest should be paid is lesser compared to the other credit cards.
Credit card points are given by banks to their customers, the regular payment persons and having good credit score persons will get good credit points which offers to make use of vouchers and things given by the bank to their customers.
For transfer of balance 1% to 5% of fee is collected by banks for the transactions. Zero percent for the new transfer free credit card is being provided to their customers. For that transaction of balance the amount of fee is being involved in the credit limit also.
The individual who is already a customer to the bank they applied for new credit card, or new to the bank. Already being a customer may get good point of credit limit if they have good report. If the individual having credit card of another bank and applying on some other bank, the bank check for the credit card score of the individual. To give them the new credit card or not and what percent should be given.
Balance can be transferred by National Electronic Funds Transfer (NEFT) or by Demand Draft (DD). The customers have to give the other bank details to them to transfer the amount from that credit account to the new card of credit card.
Register to the bank through online registration, or apply by call the bank and get details with direct contact or apply by our expert credithelpindia.com to get best credit card for balance transfer.
1. How to ask for more credit limit, I have 1,50,000 credit balance, but the bank given permission only for 1,00,000. Can I get more credit limit?
Ans: Yes, you can get sanction for 1,00,000 of credit transfer. For another 50000 you can ask for the bank you applied for and make adjustments.
2. How long it may take to transfer the credit balance from one bank to another bank?
Ans: If you are eligible for the new credit card for balance transfer, then the processing will be completed within minimum of 3 days.
3. What’s the eligibility criteria for credit card balance transfer?
Ans: Good track record of the credit card usage, their payment due is on date, and transaction pattern.
4. Is possible to get a new credit card for the purpose of balance transfer?
Ans: If the customer is having good salary, stability in job and criteria is being set by the bank, and then the customer is eligible to get the purpose of credit balance transfer.
A) Website: Through website search you can get the new credit card.
B) Branch: By visiting the local banks or apply for already familiar bank.
C) Credit Help India: With our experts’ advice and guidance you can apply for the credit transfer.
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