What is NFC Tag, and...
Financial & Legal
Balance Transfer concept came up with credit cards first is transfer of your outstanding balance from one credit card provider to another. The main reason behind the personal loan transfer » was to transfer your debt from the credit card with a higher interest rate to a credit card with a lower rate of interest. It was also used smartly by a few who transferred money from one credit card to another by rotation to avoid late fees. This transfer was available at low or no cost by banks as in most cases the customer would pay the minimum balance due and pay an interest on the balance outstanding. |
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