If you are wondering how long it takes for a balance transfer to take effect, then take a look at this article to find out how fast they can be processed. It is probably faster than you think!
A balance transfer is not a difficult and complicated procedure, and it is in fact much easier than people usually think. The application can be filled out in a matter of minutes, and the process after that speeds along very quickly.
A balance transfer is a transfer from one credit card to another. Usually this is done when a bank offers a special offer for transferring this balance. St.George has a balance transfer card specifically designed to meet the needs of customers that want to make a transfer in order to save considerable interest charges.
If you are doing a transfer balance with a St.George Credit Card you can expect it to take approximately 14 days to be completed once they have received your request. Some cards may have different time periods although in general that is the usual time to do a balance transfer. Any new customer that is requesting a transfer will have it processed after the card has been activated and the identification check has been completed at a St.George branch, if necessary.
How to make an application
If you are currently applying for a new card with St.George, you can also request a balance transfer on your application. Once your account is open the balance transfer promotional periods begins and you will pay the specified interest rate that has been offered with the card. Once the introductory period has expired, you will start paying the credit card interest rate, which is usually the same rate that is applied to purchases.
Cardholders that are currently with St.George can put in a request for a transfer balance, as long as all of the minimum requirements are met for making a transfer, and you are allowed to make as many balance transfers as you would like.
Existing customers with St.George only have to complete a request form for a balance transfer and mail it in. It can also be done using online banking. Once you have logged into your St.George account you need to select ‘Transfer & Payments’ and then click on ‘Payout a Credit Card held with another Bank’. It is as simple as that.
It does not take long to complete a balance transfer request at St.George, but the sooner you make your application the sooner it can get processed, and the sooner you can start saving money every month.