Balance Transfer

[Aharon]

Hi Guys

It's amazing how I (and I am sure so many others) know that mybb is the first port of call for any queries or assistance we may need - no matter what the topic! So thanks guys!!

On to my dilemma...

Currently have an FNB credit card with a decent size o/s balance. Suffice to say the interest is quite a bit each month.

The interest rate I am being charged at FNB is 20.5%. I have been offered a c/c at Absa with the balance transfer option (8.8% for 8 months and standard rates thereafter) - standard rate they offering me is 15.5%.

Would it be worth my while taking the balance transfer option - are there any downsides to this promotion.

Thanks

 

[Dolby]

FNB do a Balance Transfer too - and have for years.

They're 9.9% at 9 months before standard rates apply. Even with the extra 1.1%, I'd take the FNB over the ABSA.

https://www.fnb.co.za/credit-card/balance-transfer.html

EDIT : Also remember that the money comes from your budget and I don't think ABSA is going to give you a better limit than FNB, considering you have no history etc Pure guess though

 

[TheMightyQuin]

ABSA will make up for the difference with their hidden extortionist bank charges...don't you worry.