How Balance Transfer Credit Cards Work

How Balance Transfer Credit Cards Work

Balance Transfer Credit cards are popular due to the low rates of interest on the transferred balance. They often provide ideal ways to reduce credit card debts.  

Balance Transfer Credit Cards allow a transfer of a current amount in one credit card to another one, subject to a rate of interest.

How you may qualify for Balance Transfer Credit Cards:

If you have a solid credit history with a record of consistent on-time payments, you are likely to qualify for a low interest credit card.

This type of card allows you to save a lot of money in interest charges; however, balance transfer fees may apply.

When you are comparing balance transfer credit cards you need to consider the amount of money you are planning to transfer. You need to consider the fees that are charged to you when transferring balances from one card to another.

Balance Transfer Credit Cards:

American Express

Credit cards are offered as Gold, Platinum, Platinum Credit Card and Gold Credit Card to clients.


This solution is ideal for all individuals. It offers convenience and is accepted worldwide at over25 million merchants.

FNB Classic

To qualify for this card, you need to earn a minimum of R3000 per month. You get a Credit limit of up to R35 000. This facility is ideal for young professionals who need help from time to time with financial solutions


Absa Credit Cards are financial solutions that give you the convenience of having access to money anytime you want.


  • There are no transaction fees charged on purchases
  • The card can be used for fuel purchases
  • You can design your own blue Blue Bean credit card
  • You can get up to 55 days of interest-free credit for balances paid in full
  • A budget facility is available
  • There is a balance transfer option


Avios currency is used by over 5,5 million active collectors worldwide. These Avios are usually spent on flights to worldwide destinations

Categories: Credit cards