RMB Private Bank’s Credit Card Balance Transfer Campaign offers eligible customers a smart way to manage and consolidate debt. With this special offer, qualifying RMB Private Bank credit cardholders—including Aspire, Premier, Private Clients, Private Wealth, and Signet holders—can move their existing balances from other institutions onto their RMB credit card at a competitive interest rate. The campaign allows minimum transfers of R5000, with a flexible term starting from 18 months, providing plenty of time to settle outstanding accounts without rushing.

Details of the offer highlight that the transferred balance is placed on your credit card’s budget facility, freeing up your straight facility for everyday spending. The applicable interest rate is personalised, reverting to your contracted rate after the promotional period ends. The total eligible balance depends on your available credit limit at the time of the transfer request. Furthermore, you must meet the minimum age requirement of 18, be a South African resident, and ensure your current account remains in good standing.

How to Apply: Step by Step

• Ensure you have an RMB Private Bank credit card in good standing.
• Confirm you meet the minimum transfer amount of R5000 and the terms required.
• Initiate a balance transfer request via your online banking or through the dedicated RMB customer service channels.
• Wait for confirmation to reflect on your monthly credit card statement.
• Continue making repayments on time to benefit from the promotional rate.

Pros of the RMB Private Bank Balance Transfer

One clear advantage is the personalised promotional interest rate, often lower than standard rates at other institutions. This not only reduces monthly payments but also makes budgeting easier.

Another benefit is consolidating multiple debts into a single, manageable account. The flexibility of the term and access to your card’s straight facility further boosts convenience for everyday spending.

Cons of the RMB Private Bank Balance Transfer

Despite its perks, you can only hold one transfer at a time. Early settlement before the agreed term could disqualify you from future transfers.

You are also responsible for settling outstanding balances on other accounts and may incur finance charges if the transfer process is delayed.

Final Verdict

The RMB Private Bank Credit Card Balance Transfer is ideal for qualifying cardholders looking to simplify and save on credit costs. The rules are straightforward, so if your account is in good standing, this campaign can be a solid financial move. However, ensure you stick to the terms, make timely payments, and remain aware of potential costs to fully benefit from the offer.