PNB Credit Card Balance Transfer

• It is vital to know that, transfer APR for low balance works to help the customer catch up with their existing debt. This is because the customer is eligible for introductory APR for repaying balance associated to a definite time frame, such as 12 months.
• Furthermore, introductory APR or low promo also helps in cutting the time which is taken to decrease your debt.
• At last, as a substitute of paying several creditors for compound due dates, combining all the concerned balance to a single card at a low or introductory APR for balance transfer means the customer simply has to track a solo payment every month.
• PNB charges 1% processing fee of the Balance Transfer amount or Rs.199, whichever is higher
• The minimum eligible amount for balance transfer is Rs.2000 and the maximum amount is 90% of the credit limit.
• The Repayment tenure for Credit Card Balance Transfer is fixed for 6 months.

Also Read: PNB Credit Cards

Any PNB credit card owner is entitled for apply for credit card balance transfer facility in India. He/she has to be a primary account holder (credit card).

Below mentioned are steps to follow to apply for PNB credit card balance transfer:

Step 1: Visit the PNB card website.

Step 2: On the right side, under the “Resource Centre” column, click on BT Forms

Step 3: The balance transfer form will open where the primary cardholder needs to fill the details.

Step 4: Once you fill the mandatory requirements, you need to mail the Balance Transfer request form to the below mentioned address along with a copy of the credit card statement where the balance transfer is required.

                   Punjab National Bank, Processing Centre

                    3^rd floor, Rajendra Bhawan,

                    Near Rajendra Place Metro Station, New Delhi

                    110008

Does the use of balance transfer influence credit score of a customer?

The use of balance transfer can be a suitable way to settle credit card debts. However, based on several factors, the balance transfer scheme can either aid or hurt your credit score. For example, primarily applying for a number of different cards can negatively disturb your credit score.

What are the processing charges of PNB credit card balance transfer?

PNB Charges 1% processing fee or Rs.199, whichever is higher.

What is the minimum and maximum eligible amount for balance transfer?

For credit card balance transfer, the minimum amount starts from Rs.2000 and the maximum amount can be 90% of the credit card limit or available credit limit, whichever is lower.