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Possibly. The balance transfer may incur an upfront transfer fee of between 1% and 3% of the amount being transferred. Also, if you fail to repay the loan before an introductory zero-interest period …...
Yes. In most cases a transferred balance will not be allowed to exceed a fixed percentage (e.g. 80%) of your credit limit. For example, if you are approved for a credit limit of $10,000, the maximum …...
It varies from card to card. Basically you will need to meet the eligibility criteria for the card itself (e.g. minimum age, minimum income, Australian residency, reasonable credit score). If your ap…...
You cannot transfer a personal loan from the financial institution to which the new card provider belongs. E.g. you can’t transfer a Citi personal loan to a Citi credit card. ...
No. The personal loan, being transferred to a credit card in your name, must have been taken out in your name. ...
No. None of the card providers accepting personal loan transfers allocate rewards points on the transferred amount. ...
It depends on your circumstances. The point of balance transferring a personal loan is to take advantage of a card’s zero-interest introductory offer. Provided you are confident you can repay the loa…...
You can, but it wouldn’t be a wise move, for two reasons. Firstly, having an unpaid balance transfer means you won’t qualify for interest-free days on purchases. This means you’ll pay interest from e…...
If your main purpose in applying for the new card is the balance transfer, then yes. You don’t want to incur the expense of a new card (i.e. the annual fee) only to discover that your balance transfe…...
Provided the total amount does not exceed your approved credit limit (or the permitted percentage of your approved credit limit) the card provider will usually allow you to consolidate your debt with…...
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