April 26, 2023

Top 10 Balance Transfer Credit Cards and their Benefits

Summary:

Balance transfer credit cards provide an effective way to manage credit card debt by saving on interest costs. We've compiled a list of the top 10 balance transfer credit cards, each with its set of unique benefits that include competitive introductory APR periods, cashback rewards, and lifestyle perks. These cards are super helpful for consumers and help simplify debt management making them valuable tools for improving financial health while achieving debt reduction goals.
Credit cards have fast emerged as a convenient and flexible mode of payment. They, however, can quickly turn into a financial burden when there is an overdue with a high-interest rate. This overdue is usually termed as a credit balance, which can multiply quickly, taking the sum to an exorbitant amount.
Thankfully, balance transfer credit cards allow you to transfer your outstanding credit card debt to a new card with a lower interest rate. This means you save on interest costs and can pay off your debt more efficiently. Read on as we explore the top 10 balance transfer credit cards available in India with the benefits they offer.

Top 10 Balance Transfer Credit Cards

Let us dive into some of the most popular and beneficial balance transfer credit cards available in the market, to help you better deal with the credit card debt, if any.
Sl no.Credit CardIntroductory APRRewardsOther benefits
1SBI Card Elite0% for the first 90 daysReward Points: You can earn 2 reward points for every Rs. 100 spentTravel Benefits: Complimentary airport lounge access and discounts on travel bookings available The SBI Card Elite not only offers an attractive balance transfer rate but also makes sure to provide excellent reward points and travel benefits.
2Citi Cashback Credit Card0% for the first 6 monthsCashback Rewards: You can avail 5% cashback on movie tickets and telephone bill paymentsDining Offers: You can enjoy discounts at partner restaurants The Citi Cash Back Credit Card has a reasonable introductory APR period and cashback rewards. This makes it a great choice for balance transfers and everyday spending.
3HDFC Regalia Credit Card0% for the first 90 daysReward Points: With this, you can earn up to 4 reward points for every Rs. 150 spentTravel Benefits: Complimentary airport lounge access and travel insurance available The HDFC Regalia Credit Card offers an excellent balance transfer deal and is one of the best for frequent travellers.
4Axis Bank Buzz Credit Card0% for the first 3 monthsNAShopping Benefits: Extra discounts on online and offline shopping are available Fuel Surcharge Waiver: You can save a substantial amount on fuel expenses The Axis Bank Buzz Credit Card has great perks when it comes to shopping, thereby making it a solid option for users looking for balance transfers.
5Standard Chartered Platinum Rewards Card0% for the first 9 monthsReward Points: You can earn reward points on every spendDiscounts: Enjoy discounts on dining, shopping, and more with this card This Standard Chartered card provides a generous introductory APR period and various discount opportunities.
6ICICI Bank Instant Platinum Credit Card0% for the first 3 monthsNANo Annual Fee: This card comes with no annual fee Savings: This is a basic card, no-frills option for balance transfers available As there is no annual fee, the ICICI Bank Instant Platinum Credit Card is an uncomplicated choice for those looking to save on interest yet refrain from paying extra.
7Kotak Mahindra Bank Aqua Gold Card0% for the first 6 monthsNACredit Limit: This card is suited to individuals with low credit scores No Joining Fee: No joining fee required This card is designed for individuals with lower credit scores and offers a great option for balance transfers.
8RBL Bank Platinum Maxima Card0% for the first 3 monthsReward Points: You can earn rewards on various spending categoriesLifestyle Benefits: Enjoy discounts and offers on lifestyle expenses The RBL Bank Platinum Maxima Card is a versatile option for balance transfers and the focus is on rewards and lifestyle perks.
9YES Prosperity Edge Credit Card0% for the first 3 monthsReward Points: You can earn reward points on retail and online spendingTravel Benefits: Discounts on travel and hotel bookings available This card is a strong choice for cardholders as it offers a competitive balance transfer rate and excellent rewards.
10IndusInd Bank Platinum Aura Credit Card0% for the first 2 monthsReward Points: You can earn accelerated reward points on different categoriesLifestyle Offers: Get discounts on dining, entertainment, and more The IndusInd Bank Platinum Aura Credit Card offers attractive options for balance transfers and lifestyle benefits.

Conclusion

Balance transfer credit cards are instrumental in helping you save on interest along with managing your credit card debt effectively. Some important factors to consider when choosing the right card are APR period, associated fees, and the additional benefits like reward points, discounts, and travel perks. The right balance transfer card allows you to take a significant step toward improving your financial health and achieving your debt-reduction goals. It is important to always read the terms and conditions carefully to make an informed decision, before diving into a credit card scheme.

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 900+ stocks

Upstox Margin Trading Facility
Apple Logo
Downloadlogo
iOS App
Google Play Logo
Downloadlogo
Android App

RELATED ARTICLES

What is SBI ePay & How to Use SBI ePay: Meaning, Login, & Gateway

SBIePay is an online payment instrument that connects to multiple banks, lending institutions, and merchants electronically to enable all types of e-commerce and mobile commerce transactions between those parties.The ePay service is available in various cities across the country and you can now make payments to several billers in your region. Existing payment aggregators like IndiaIdeas (BillDesk), CCAvenues, TechProcess Solutions, Times of Money Ltd., E-Billing Solutions (EBS), and Atom Technologies, as well as new aggregators like PayU, Citrus, and Emvantage, have focused on particular merchant categories and developed their own specialised online payment niches. You may handle different billers, set up and receive electronic bills using ePay. SBIePay provides one of the most comprehensive and intricate payment options for its merchants, enabling them to provide their customers simple transactions. SBIePay is the only bank with direct access to all payment methods, enabling customers to avoid utilising any middlemen private businesses. With a particular focus on government merchants, such as national, state, and municipal organisations, SBIePay, a bank and payment aggregator, aims to provide new merchant categories and additional payment methods. The Bank's own payment gateway would be used to process all credit/debit card transactions. In order to process their Internet Banking payments, SBIePay is tying up with more than 40 banks. SBIePay will offer banks and merchants the business data and analytics for all transactions as an extra function. In the next three years, SBIePay wants to be the go-to resource for processing every type of online payment method and to take the lead among payment aggregators.

What is Blank Cheque & How to Give Blank Cheque: Meaning, Validity, & Leaf

The term “blank cheque” frequently refers to a cheque that has been signed by an authorised cheque signer but does not include any additional information like date, payee or amount. In certain cases, it becomes essential to give a blank cheque to someone depending on the requirement or demand. Now, if you are thinking about whether to give a blank cheque to someone or not, you must check some of the aspects. In the following sections, you will know everything about the blank cheque and how to use a blank cheque if required.

What is Bank Statement - How to Get Bank Statement Online & Download

- Would you like to know your account opening and closing balance amount, say at the end of every month? - Would you like to know the details of all your financial transactions such as deposits, withdrawals, transfers, service charges, etc? - Would you also like to know and keep a tab on any unauthorized transactions, besides keeping a closer watch on your expenses? - Would you also like to know if there have been any uncashed cheques or if you have made any payments twice to the same entity or whether there are discrepancies in your opening and closing balance? Welcome to the concept of a Bank statement, issued by banks to all its account holders at periodic intervals across various channels such as mail, email, SMS etc. It is a simple, yet profound way of recording every transaction not only helps you in managing your finances, it also lets you locate the red flags. Akin to the traditional bahi khata, the book reflects your transaction details, both cash inflows, and cash outflows, over a period of time. This kind of record keeping is super helpful as you know your book balance at the end of the day, you are aware of all transfers, and withdrawals and you also know the details of deposits and payments that have been made. So basically, your book tells you from where your money has come and where the money has gone/ spent. All financial entities typically maintain records of all their customers for at least a period of five years.

Which is the Best Banks for Personal Loans Providers in India

There are different types of personal loans in India. They can be used for varied purposes, ranging from debt consolidation, home improvement, to cover unforeseen expenses. Unlike secured loans such as auto loans or mortgages, personal loans are unsecured and do not require collateral.