A Balance transfer facility involves transferring your current outstanding credit card debt to a new credit card which offers either a very low or even 0% interest rate. So the idea is for you to consolidate all of your credit card debt into one credit card that offers you a much lower interest rate. Balance transfers are usually offered over a time frame between 6, 9, 12 or 36 months for repayments.
offer balance transfer facilities, but they require a minimum of RM1,000 transfer amount. You can also apply for balance transfer with credit cards from Bank Simpanan Nasional (BSN)
, Standard Chartered
, Hong Leong
and Public Bank
. For more options balance transfers credit cards, check out the free credit card comparison tool.