What is a Balance Transfer Credit Card? And 3 Things You Must Pay Attention to!


Credit card balance transfer is the process of transferring part or all of the current credit balance to another credit card account.

With this transfer, the balance of the old credit card will be accessed by the issuing bank that has been selected. That way, the payment of the bill balance will no longer be shown to the issuing bank or old credit card.

So what are the things that need to be considered in this balance transfer credit card? Curious, right? Let’s see the review as follows!

What are the things to consider in this balance transfer credit card?

balance transfer credit card

In fact, if you are stuck in a large credit card bill balance, or even close to a predetermined limit, then a balance transfer credit card is really needed.

Especially if you are running a fairly large business, and always use a credit card as payment, then this is really very profitable. But it would be nice, you pay attention to the following things.

1. Balance Transfer Fee

The balance transfer credit card process is not free, but there is a certain nominal that is charged as an administrative fee. Balance Transfer Fees Each credit card issuing bank can be different, because it is based on the policies of each bank.

However, the average balance transfer fee charged to credit card users starts from Rp. 25,000 to Rp. 50,000 per transfer.

2. Interest Amount on New Credit Card

Understand that the purpose of a balance transfer credit card is to reduce or even avoid interest payments. Therefore, make sure you choose a credit card with a lower interest rate than the previous credit card.

Fortunately, if the new credit card issuing bank provides a low interest promo, it offers up to 0% within a certain period of time, usually 3 to 6 months.

If during this period, you can pay off your credit card bill after transferring to a new one, then you can avoid paying high interest rates. However, if during this period, you have not been able to pay off, at least the normal interest is charged lower than the previous credit card.

3. Maximum Balance Transfer Limit

Each card issuing bank has its own policies and conditions, including in terms of determining the maximum balance transfer balance that can be made.

This must be considered carefully, so that the maximum limit or limit on the new credit card can cover the balance of the old credit card bill.

In general, the maximum balance transfer limit is 60 to 90% of the Bank’s approved credit limit.

If your credit card issuing bank chooses to set a credit limit of Rp. 10 million, with a maximum balance transfer balance of 80%, the maximum balance transfer amount that can be made is Rp. 80 million.

Conclusion and Closing!

0 business credit card balance transfer

Well, that’s a complete explanation regarding what things need to be considered when using this balance transfer credit card.

If you want to know more detailed information related to business or investation profitable, then just visit 0 business credit card balance transfer.

Because on the 0 business credit card balance transfer website, it will explain more about business and investment.

Whether it’s a business or an investment in the short or long term, so don’t forget to follow the developments of the 0 business credit card balance transfer website.

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That’s all from us and thank you for reading this article. See you again in the next article! Bye-Bye.


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