{"id":3352,"date":"2013-01-21T09:24:02","date_gmt":"2013-01-21T01:24:02","guid":{"rendered":"http:\/\/blog.imoney.my\/?p=3352"},"modified":"2015-03-06T15:12:24","modified_gmt":"2015-03-06T07:12:24","slug":"credit-card-balance-transfer-what-is-it-and-how-it-benefits-you","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you","title":{"rendered":"Credit Card Balance Transfer: What Is It And How It Benefits You"},"content":{"rendered":"

\"Credit<\/a><\/p>\n

Raking up a towering debt on your credit card? Tired of playing catch-up with the excessive financial charges imposed on your unsettled balance? You may wish to consider taking up a balance transfer programme, which should significantly lower the interest you are paying on the existing balance on your card.<\/p>\n

<\/span>What is it?<\/strong><\/span><\/h2>\n

The programme provides a way to transfer the balance (i.e. the amount of money you owe) on your existing credit card account to a new account with another bank (or credit card company).<\/p>\n

<\/span>Advantages of undertaking the programme<\/strong><\/span><\/h2>\n

Lower interest rate<\/strong>
\nCard issuers actively encourage balance transfers as a way to attract customers to \u201cswitch over\u201d from their competitors. To do so, they usually offer lower interest rate compared to the one imposed by your existing card company. To put it simply, you\u2019ll be paying less over the long run.<\/p>\n

Zero interest period<\/strong>
\nMany card providers reward newly switched over customers with Zero Interest Period (i.e. your outstanding balance does not incur interest at all for a predetermined period). Depending on the companies that you choose, the period can last for a few months, or even up to a few years.<\/p>\n

Consolidation of multiple accounts<\/strong>
\nThose who own multiple cards, this process allows you to consolidate all your accounts into one single account. You\u2019ll no longer need to remember different repayment due dates and unique clauses of each and every one of your cards, which really does go a long way in helping you to manage your credit.<\/p>\n

Manage your debt<\/strong>
\nThrough the process of seeking the most favourable interest rate to choosing a repayment plan that fits your requirements, the process literally forces you to re-examine the state of your credit. If you are presently at a loss of how you can repay the balance you\u2019ve accumulated over the years, this process may just be the catalyst you need to help you kick-start things.<\/p>\n

<\/span>Find out how much you can save with\u00a0balance transfer<\/a>.<\/strong><\/span><\/h3>\n

<\/span>Love this article? You might also want to read a more in-depth explanation on what you should know about balance transfer credit cards<\/a>.<\/strong><\/span><\/h3>\n

\"petrol-quiz-ads_600x300\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Credit Card Balance Transfer is the transfer of your current credit card balance to a new credit card with a new bank. This can significantly save interest.<\/p>\n","protected":false},"author":1,"featured_media":5135,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[234,11,227],"tags":[],"class_list":["post-3352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-balance-transfer-card","category-cards","category-credit-card"],"acf":[],"yoast_head":"\nCredit Card Balance Transfer: What Is It and How It Benefits You<\/title>\n<meta name=\"description\" content=\"Credit Card Balance Transfer is the transfer of your current credit card balance to a new credit card with a new bank. This can significantly save interest.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Card Balance Transfer: What Is It and How It Benefits You\" \/>\n<meta property=\"og:description\" content=\"Credit Card Balance Transfer is the transfer of your current credit card balance to a new credit card with a new bank. This can significantly save interest.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2013-01-21T01:24:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-03-06T07:12:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"401\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"iMoney Editorial\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"iMoney Editorial\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you\",\"url\":\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you\",\"name\":\"Credit Card Balance Transfer: What Is It and How It Benefits You\",\"isPartOf\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#primaryimage\"},\"thumbnailUrl\":\"\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg\",\"datePublished\":\"2013-01-21T01:24:02+00:00\",\"dateModified\":\"2015-03-06T07:12:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb\"},\"description\":\"Credit Card Balance Transfer is the transfer of your current credit card balance to a new credit card with a new bank. This can significantly save interest.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#primaryimage\",\"url\":\"\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg\",\"contentUrl\":\"\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg\",\"width\":600,\"height\":401},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.imoney.my\/articles\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cards\",\"item\":\"https:\/\/www.imoney.my\/articles\/category\/cards\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Credit Card\",\"item\":\"https:\/\/www.imoney.my\/articles\/category\/cards\/credit-card\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Balance Transfer Card\",\"item\":\"https:\/\/www.imoney.my\/articles\/category\/cards\/credit-card\/balance-transfer-card\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"Credit Card Balance Transfer: What Is It And How It Benefits You\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\",\"url\":\"https:\/\/www.imoney.my\/articles\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.imoney.my\/articles\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb\",\"name\":\"iMoney Editorial\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g\",\"caption\":\"iMoney Editorial\"},\"description\":\"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.\",\"sameAs\":[\"http:\/\/www.imoney.my\"],\"url\":\"https:\/\/www.imoney.my\/articles\/author\/chinglee\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Credit Card Balance Transfer: What Is It and How It Benefits You","description":"Credit Card Balance Transfer is the transfer of your current credit card balance to a new credit card with a new bank. This can significantly save interest.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you","og_locale":"en_US","og_type":"article","og_title":"Credit Card Balance Transfer: What Is It and How It Benefits You","og_description":"Credit Card Balance Transfer is the transfer of your current credit card balance to a new credit card with a new bank. This can significantly save interest.","og_url":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you","og_site_name":"iMoney Malaysia","article_published_time":"2013-01-21T01:24:02+00:00","article_modified_time":"2015-03-06T07:12:24+00:00","og_image":[{"width":600,"height":401,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg","type":"image\/jpeg"}],"author":"iMoney Editorial","twitter_card":"summary_large_image","twitter_misc":{"Written by":"iMoney Editorial","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you","url":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you","name":"Credit Card Balance Transfer: What Is It and How It Benefits You","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#primaryimage"},"thumbnailUrl":"\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg","datePublished":"2013-01-21T01:24:02+00:00","dateModified":"2015-03-06T07:12:24+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb"},"description":"Credit Card Balance Transfer is the transfer of your current credit card balance to a new credit card with a new bank. This can significantly save interest.","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#primaryimage","url":"\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg","contentUrl":"\/articles\/wp-content\/uploads\/2013\/04\/credit-cards.jpg","width":600,"height":401},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/credit-card-balance-transfer-what-is-it-and-how-it-benefits-you#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"Cards","item":"https:\/\/www.imoney.my\/articles\/category\/cards"},{"@type":"ListItem","position":3,"name":"Credit Card","item":"https:\/\/www.imoney.my\/articles\/category\/cards\/credit-card"},{"@type":"ListItem","position":4,"name":"Balance Transfer Card","item":"https:\/\/www.imoney.my\/articles\/category\/cards\/credit-card\/balance-transfer-card"},{"@type":"ListItem","position":5,"name":"Credit Card Balance Transfer: What Is It And How It Benefits You"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb","name":"iMoney Editorial","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4268d61be86ba47b656e314b503a5c2f?s=96&d=mm&r=g","caption":"iMoney Editorial"},"description":"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.","sameAs":["http:\/\/www.imoney.my"],"url":"https:\/\/www.imoney.my\/articles\/author\/chinglee"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/3352"}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=3352"}],"version-history":[{"count":28,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/3352\/revisions"}],"predecessor-version":[{"id":14356,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/3352\/revisions\/14356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/5135"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=3352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=3352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=3352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}