Can you transfer your balance through international card offers?

Most of the international card offers provide balance transfers services which can help you to lower the cost of your credit card borrowings. In this way, one can consolidate multiple debts y utilizing the balance transfer offers. Such kind of offers could potentially help you lower your outgoings as well. Before going towards balance transfer services, we should first of all have an idea about what actually it is? Balance transfer means transferring your balance or part of a debt from one credit card to another.

Most of the customers and investors use this strategy to take advantage of lower interest rates. By switching your debt from one card to another card with a lower interest rate provide many facilities such as:

• By turning from one card to another, you may need to pay less interest on your existing debt. But you will usually pay a fee which is due on your credit card.
• Through this way, you can also organize your finances by consolidating multiple monthly payments through credit card redemption process.

How to transfer a balance through a credit card?

As you all know that different banks provide a different type of services in Dubai. If you want to avail one of the particular services like balance transfer you need to speak to your bank or Credit Card Company. You can also get information from their official website, to find out how to transfer your balance.

One can also get all the information through their smartphone by using the online banking facility. Now the most important question is there any extra cost on a best cash back credit card in Dubai? Yes, most of the credit card companies usually charge a fee for balance transfers. The amount of fee depends on the size of the transfer and possibly the time period you want to transfer the money. When you want to know about the potential savings, be sure you have checked the fee and add it into the account balance.

Things to watch out while utilizing a credit card service in Dubai

There are many things but most importantly a cardholder in Dubai must know about the Interest rates. It is one of the major factors and most balance transfers offer a better interest rate for a fixed time period. After the fixed time period, if you would be unable to repay the credit card bills then the interest rate will go up and it would be difficult to handle.  For sure a cardholder should make some comparison about different cards so that to get an idea which card would be the best option for him/her.

An international card offers include maximum transfer limits on the behalf of the company. But we suggest you all remain in your budget and you’ll need to transfer an amount that’s within the credit limit on your new card. Also minus annual fee charges from the list.

Conclusion: Mashreq Bank, a private one in Dubai is one of the best-suited options for locals as well for expatriates for having credit card services.