Read the latest news about Balance Transfer in Singapore and the best money saving tips.
Why do people take balance transfers?
A balance transfer is best for those who have racked up hefty credit card debt. It helps you to better pay off your outstanding credit card bills by offering a 0% interest rate, but it charges a small processing fee. This credit card debt can be consolidated across different credit card providers.
What are the prominent features of a balance transfer to look out for?
With most balance transfers offering 0% interest rate, you can select a balance transfer based on these 2 main factors:
Why does the balance transfer tenure / repayment period matter?
Balance transfers are attractive, offering 0% interest rate. However, this 0% interest rate applies to the specified tenure or repayment period only. You will not be subject to interest rate charges if you pay off your balance transfer loan amount within this period. This also means that after the tenure, you will incur high-interest charges (similar to credit card interest rates) on the outstanding amount.
Read this to find out how much you can save in interest when you use a balance transfer.
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What is a balance transfer?
How does a balance transfer work?
What’s the difference between a balance transfer and a line of credit?
What are the benefits of a balance transfer over a personal loan?
Do balance transfers affect my credit score?
Who should apply for a balance transfer?
When should I apply for a balance transfer?
What should I look out for when taking up a balance transfer?
What are the fees involved in a balance transfer?
How to choose a balance transfer loan?
Which is the best balance transfer rate in Singapore in 2020?
What are the balance transfer promotions in 2020?
Is it a good idea to do a balance transfer?
What are the disadvantages of a balance transfer?
How many times can you do a balance transfer?
How long do balance transfers take?
Do I need to be an existing customer to do a balance transfer with the bank of my choice?
What are the eligibility criteria and requirements for getting a balance transfer?