I have been bit addicted to Credit Card usage, when I got a call from DSA person about SBI Credit Card, I was bit reluctant to go for SBI, since I was already owning HDFC, ICICI, HSBC and ABN Amro Cards. Then after serious thought process I asked the DSA Agent what are all the benefits that SBI is providing, same blaw blaw..... My eyes turned when he said about the 0% Balance transfer(BT) with a processing charge of 100 Rs per request.
I immediately ordered for this card. Being a Gizmo freak I have purchased few mobiles and digi cam for me and my borther, my other bank card outstanding were peaking like anything. So I thought I could use the 3months grace days to relax myself from paying high interest rate of 2.95% from other credit cards. After getting this card with in fortnight time, I have requested the DSA Agent to process a BT for Rs 35000/- of outstanding with my HDFC Bank Card. Just imagine if I am going to pay the same amount with interest charges for next three months. I would be simply end up paying close to Rs 38000/- but now by using SBI Card I have manged to pay only Rs 35125/- including the processing and surhcarges for the next three months altogether.
Now RBI had made it 2% additional charges for every BT request on the total amount, but still SBI have waived those charges last month and gave my 0% BT for 3 months without any marks.... I would call this as the complete 0% BT. As of now I have been using SBI Card only for BT, I also ensure my outstanding is Zero before opting BT, so that no finance charges +Service tax will be levied on your monthly statement.
If you have any outstandings with Other Credit Cards and tired of paying finance charges+Service Tax+Surcharges+Education Cess....My simple suggestion would be take SBI Credit card and go for BT and reduce your burden of paying higher interest and taxes. Your Balance Transfer request will be fulfilled within 5-10 days.
Tell me in these days who’s giving you 0% interest rate for 3months with less processing charges???
I am 100% satisfied with SBI Card