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 Card | Introductory APR | Rewards | Other benefits |
| 1 | SBI Card Elite | 0% for the first 90 days | Reward Points: You can earn 2 reward points for every Rs. 100 spent |
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| 2 | Citi Cashback Credit Card | 0% for the first 6 months | Cashback Rewards: You can avail 5% cashback on movie tickets and telephone bill payments |
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| 3 | HDFC Regalia Credit Card | 0% for the first 90 days | Reward Points: With this, you can earn up to 4 reward points for every Rs. 150 spent |
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| 4 | Axis Bank Buzz Credit Card | 0% for the first 3 months | NA |
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| 5 | Standard Chartered Platinum Rewards Card | 0% for the first 9 months | Reward Points: You can earn reward points on every spend |
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| 6 | ICICI Bank Instant Platinum Credit Card | 0% for the first 3 months | NA |
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| 7 | Kotak Mahindra Bank Aqua Gold Card | 0% for the first 6 months | NA |
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| 8 | RBL Bank Platinum Maxima Card | 0% for the first 3 months | Reward Points: You can earn rewards on various spending categories |
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| 9 | YES Prosperity Edge Credit Card | 0% for the first 3 months | Reward Points: You can earn reward points on retail and online spending |
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| 10 | IndusInd Bank Platinum Aura Credit Card | 0% for the first 2 months | Reward Points: You can earn accelerated reward points on different categories |
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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.
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