Credit Cards with 0% Interest on Balance Transfer

By facilitating the transfer of high-interest credit card debt to a credit card with a lower interest rate, credit card balance transfers help you make significant financial savings.

Offers for balance transfer credit cards usually include an interest-free introductory term that lasts between 6 and 18 months.

In this write-up, we will explore the basics of 0% interest balance transfer credit cards.

Understanding What are Zero Balance Transfer Cards

credit card companies offer a service called Balance Transfer (BT) that lets the cardholder move their debt — the amount due on the card — to another credit card account held by a different bank or financial organisation.

This is a mutually advantageous arrangement as it gives cardholders the chance to pay back their debts at significantly cheaper interest rates. It also allows banks to assist their clients in managing their debt.

Most banks entice cardholders with interest-free balance transfer periods. Some banks also let you pay back your debt with less interest by providing an instalment plan or lowering interest rates for a set period.

Top 0% Interest on Balance Transfer Credit Cards in the UAE

The table below displays the best options related to 0% interest on balance transfer credit cards in the UAE -

Credit Card	Minimum Salary	Annual Fees	Apply
ADCB 365 Cashback Credit Card	AED 8,000 per month	1st Year Fee, AED 365 starting the next year	Apply Now
ADCB 365 Islamic Cashback Covered Card	AED 8,000 per month	1st Year Fee, AED 365 starting the next year	Apply Now
ADCB LULU Titanium Credit Card	AED 5,000 per month	Free for Life	Apply Now
ADCB LULU Platinum Credit Card	AED 15,000 per month	Free for Life	Apply Now
FAB SHARE Signature Credit Card	AED 30,000 per month	AED 1,500	Apply Now
FAB SHARE Platinum Credit Card	AED 10,000 per month	AED 1,000	Apply Now
FAB Low-Rate Credit Card	AED 10,000 per month	AED 315	Apply Now
RAKBANK Emirates Skywards World Elite Mastercard Credit Card	AED 20,000 per month	AED 1,499	Apply Now
RAKBANK World Mastercard Credit Card	AED 20,000 per month	Free for 1st Year	Apply Now
RAKBANK Titanium Mastercard Credit Card	AED 8,000 per month	Free for Life	Apply Now

How Does the Balance Transfer Process Work?

When used properly, the balance transfer facility can assist you in regaining control over your debt. This is because credit cards with this feature typically have an introductory 0% interest rate available.

This way, you will be able to save money and use it to pay off debt more quickly. Recall that these lowered interest rates are only available for a brief duration; thereafter, regular interest rates will be in effect.

On top of that, there may occasionally be a fee associated with the amount you are transferring that will be added to your balance.

Benefits of 0% Interest on Balance Transfer Credit Cards

Here are the key benefits of 0% interest on balance transfer credit cards -

• Interest-Free Time Frame: There is a 12- to 18-month 0% interest period offered by the credit card balance transfer. During this time, you can settle the amounts on your credit cards without incurring any interest.
• Easy Availability: Several leading banks offer credit cards with a balance transfer facility. You can easily connect with your credit card provider and avail of this facility to settle your bills. 
• Debt Consolidation: Debt consolidation is a method to consolidate your credit card bills from several credit cards into a single credit card. You can more effectively manage your repayments of several credit card obligations by consolidating your debt. Thus, if you have balances on more than two credit cards, you can combine them and use a Balance Transfer Credit Card with 0% interest to pay off a single bill.
• Control and Contribute to Raising credit Score: Balance transfers assist clients in paying off debt more swiftly, reducing the amount owed and saving interest. By practicing responsible money management on a daily basis, this can help someone improve their credit score.

Things to Keep in Mind Before Applying for a 0 Balance Transfer Credit Card

Before applying for a 0% interest on balance transfer credit card, keep in mind these things -

• Make sure you do your homework and get the best credit card with a list of bonuses for debt transfers.
• Balance transfers cannot be completed until your credit card has been accepted. Thus, don’t stop making timely payments to the other card until the credit card is approved. The time it takes for a bank to process a balance transfer can differ.
• Since interest rates are the most significant and vital component of your credit card, figure them out before applying for a card. A small fee is typically assessed by the bank for all balance transfers.
• Your credit limit remains the same when you use a credit card balance transfer. 
• You cannot use the lowered interest rate for the transferred credit card balance to make new purchases with your credit card. The regular interest rates on the new credit card would apply to these transactions.
• Customers who have used credit cards from one provider for at least a year are usually eligible for balance transfer credit cards. This is to prevent users from constantly switching credit card providers in an attempt to take advantage of cheaper interest rates.
• Paying off all of your debts during the low-interest period or the free-interest rate term is the best way to utilise a credit card balance transfer.
• Even if your credit card may still be available after a previous credit card debt transfer, it's a good idea to wait to use it until all balance transfer payments have been made and any future charges have been paid off.
• It’s highly important to read the terms and conditions found in the fine print of every feature and advantage provided by the company offering the balance transfer credit card service.

How to Apply for a Credit Card with 0% Interest on Balance Transfers?

Policybazaar.ae makes it easy to apply for credit cards with 0% balance transfers. This third-party aggregator website serves as a one-stop shop for all your needs related to credit products.

Click on the ‘Credit Card’ tab on the homepage or choose the same option from the ‘Banking Products’ tab on the menu bar to initiate the application process.

Once you fill out the lead form, you will be able to compare the top credit card quotes. On applying for one, you will be contacted by one of our representatives for further steps.

In case you find yourself stuck at any time during the process, you can always connect with our experts to get assistance in making a decision.