What is a Balance Transfer?
Hot Topics
- How is interest calculated?
-
Interest is calculated on a monthly basis on the outstanding balance if full payment has not been received.
- Will I get charged Late payment/Overlimit fees?
-
All credit cards charge you if your payment is overdue.
- Can I use my card abroad?
-
Using a credit card abroad is an easy way to make purchases of any kind as it saves you from carrying large amounts of cash around.
- Can I request a specific credit limit?
-
Your credit card issuer will normally set a credit limit for you based on your application details, credit scoring and credit rating.
- What is Sentinel® Card Protection Insurance?
-
Losing your credit cards or having them stolen can be a real inconvenience, not to mention a worry – especially if you’re abroad. The Sentinel® Card Protection scheme takes all the worry away, and with just one free phone call from anywhere in the world Sentinel® will immediately inform all your card issuers that you need replacement cards should they be lost or stolen.
Transferring balances has become a popular and easy way to consolidate multiple card balances in one place, while simultaneously making significant savings on interest payments.
You can transfer a balance onto your credit card from other credit cards or store cards at any time. This transferred balance will be treated separately to your purchase balance in terms of interest charged – though they will normally show as one whole amount on your credit card bill.
All you have to do is either complete a balance transfer form online, or call your credit card company - stating the account number you wish to transfer your balance from or to, and the amount of the balance you would like to transfer. The process is not immediate, and you need to allow up to a week for the transfer to go through.
|
