Last updated: 17 August 2026
What is Balance Transfer?
Moving your outstanding balance from one card to another — usually with a 0% intro APR on the new card (6–18 months). Isse high-interest debt par breathing room milti hai.
Costs Involved
- Transfer fee: 3-5% of amount (India), $5-10 minimum (USA)
- 0% period ke baad: regular APR (usually 24-42% India)
- No grace on transfer: usi din se (0% pe no interest, baad me full)
Is It Worth It? Example
| Scenario | Cost |
|---|---|
| ₹1L debt @42%, 12 months | ~₹23,000 interest |
| Transfer @3% fee + 0% for 12mo | ₹3,000 fee |
| Savings | ~₹20,000! |
Track Transfers
Transfer ke baad statement me "BALANCE TRANSFER" entry aati hai — Excel me convert karke 0% period ka countdown track do.
Convert your statement — free!
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Frequently Asked Questions
Q: Is balance transfer good or bad?
A: Good if you can clear the debt within the 0% period. Bad if you only pay the fee and the balance stays.
Q: What is the balance transfer fee?
A: Usually 3-5% (India), $5-$10 minimum (USA). Some cards even waive the fee during the 0% period.
⚠️ Important Note: Credit card rates, fees and rules vary by bank and card (and change over time). This guide is general information — confirm details with your bank's official statement, fee schedule or customer care. Our tool only helps extract your statement data into Excel — it does not provide financial advice. Poora disclaimer read.