What is the charge of HDFC credit card transfer?

Understanding HDFC Credit Card Transfer Charges

When transferring balances from other credit cards to your HDFC credit card, it’s important to be aware of the associated charges.

Balance Transfer Fee

HDFC Bank charges a 1.10% fee on all credit card balance transfers. This fee is calculated based on the amount you transfer. For example, if you transfer ₹10,000, you will be charged ₹110 as a balance transfer fee.

Minimum Payment and Late Payment Charges

It’s crucial to make timely payments on your HDFC credit card, including those for transferred balances. Failing to make the minimum payment of 5% of the outstanding balance by the due date will result in late payment charges. These charges can impact your credit score and overall account standing.

Avoiding Charges

To avoid balance transfer fees, consider exploring balance transfer offers from other banks or financial institutions that may not charge fees. Additionally, always prioritize making timely payments to prevent late payment charges and negative consequences on your credit score.

Conclusion

Understanding the charges associated with HDFC credit card transfers is essential for making informed decisions and avoiding potential penalties. By being aware of the balance transfer fee and the importance of timely payments, you can better manage your credit card usage and maintain a positive financial standing.