The FNB Credit Card Balance Transfer campaign offers a competitive fixed interest rate of 9.9% for the first 9 months. It is available exclusively to FNB Credit Cardholders. Eligible customers include Aspire, Premier, Private Clients, Private Wealth, and Signet cardholders who are over 18 and live in South Africa. After the initial fixed-rate period, a personalised interest rate will apply as per your existing contract. The campaign requires a minimum transfer of R5,000 and allows only one balance transfer at a time.

To qualify, your FNB credit account must remain in good standing with no overdue payments or legal proceedings, aside from certain exceptions. The offer applies only to personal, not business, debit or fusion cards. This limited-time campaign runs from 1 April to 30 June 2024. It’s a strategic way to manage debt, especially when you expect to repay within 9 months or stabilise monthly repayments at a reliable rate for a while.

How to Apply for the FNB Balance Transfer

Start by confirming you are an eligible FNB Credit Cardholder with an account in good standing. Check your available budget facility and decide on your balance transfer amount, which must be at least R5,000 and within your available credit limit. Request the balance transfer through your FNB branch, online banking, or by contacting their call centre. The transfer is processed, with repayments over your chosen budget facility term and the initial 9.9% fixed rate.

Pros of the FNB Balance Transfer Offer

The most notable benefit is the low 9.9% fixed interest rate for 9 months, making it easier and more affordable to manage existing credit card debt. Eligible customers can take advantage of this to save significantly on interest costs. The process is streamlined for current FNB cardholders, and terms are clear and transparent, helping you budget your repayments more effectively.

Cons to Consider with FNB’s Offer

After the introductory rate period, the interest rate reverts to your personalised, possibly higher, contracted rate. Also, you cannot apply for more than one balance transfer at a time, and early settlement may forfeit the promotional rate. Additionally, only selected FNB cardholders may participate, and business, debit, or fusion products are excluded. Strict eligibility criteria apply, so ensure your account is always in good standing.

Verdict: Is the FNB Credit Card Balance Transfer Right For You?

If you are an FNB Credit Cardholder looking to save on interest and streamline debt payments, this offer is worth considering. The fixed low rate can help you stay on top of your finances and manage repayments sensibly. However, be mindful of what’s required to stay eligible and the terms after the fixed period ends. It’s a timely, straightforward deal for those who qualify.