Credit cardbalance transfer FAQs

Once you have accepted the offer, we will pay off the outstanding balance* of your credit card(s) held with other bank(s). You will have 24 months to pay off the balance of your credit card balance transfer before you can receive any further balance transfer offers. 

* Based on your card balance as reflected at the credit bureau at the time of the offer.

If the balance on your credit card is higher than as reflected at the bureau, we will use that information to make you an offer. It is your responsibility to settle the remaining balance.

1. Lower interest rate: Enjoy a lower interest rate (prime minus 1%) for 9 months. After that, your rate will revert to the normal risk-based interest rate as reflected on your pre-agreement quote.

2. Payment: Enjoy 3 months where no payment will be required. Note: You will pay more interest in the long run as interest is calculated daily on your outstanding balance. To avoid incurring this interest, you can continue to pay your instalment each month.

You can combine up to 2 non-Nedbank credit cards.

No, you won’t be charged any fees to do a balance transfer. Your normal credit card fees will apply.

YeYes, we will pre-qualify you and specify the amount we are willing to extend to you as part of your offer.

You can request a balance transfer for credit cards held with FNB, Absa, SBSA, or African Bank.

OnOnce you have accepted the balance transfer offer, Nedbank will pay off your non-Nedbank credit card(s). This usually takes 3 to 5 business days.

YeYes, you must close the credit card accounts that were settled through the transfer within 60 days.

• The instalment for month 3 of your no- payment period will become due and payable on the due date as reflected in your statement.

• Your preferential interest rate will no longer apply, and the remainder of your credit card balance transfer facility will be moved to your standard (straight) credit facility at the risk-based interest rate, as stipulated in your pre-agreement quote.