Credit Card Balance Transfer: Credit card dues are bothering you, use the balance transfer facility, to save money..

If you use a credit card wisely, it is very beneficial. Apart from the interest-free period of 45-50 days, you also get cashback and discounts. If you do not use it wisely, it can trap you in a debt trap. Many times we spend more than necessary and do not have money to pay the card bill. If you do not pay the credit card dues on time, then you have to pay an annual charge of about 40 percent. This process will continue until you pay the entire account.

If you are also stuck in such a situation, then there is no need to panic. In such a situation, you can get help from the facility of credit card balance transfer. In this feature, you can transfer the outstanding balance of one card to another card. However, interest is also charged on this facility but it is less than the credit card finance charge.

What is the facility for balance transfer?
Bill payment is done by transferring a balance from one card to another. Many banks provide such facilities. You can pay the bill of another bank's credit card using one credit card. However, before transferring the balance, you should know the charges of the new credit card company or bank.

It is also possible to transfer the balance of several cards to one card
You can also get a chance to pay very little or no interest on the balance transfer. Usually, banks give an introductory offer of 3 to 12 months. If the card limit is good, you can also transfer the balance of several cards to one card.

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