"Balance Transfer not available for BoB cards"

[rogerthat]

So I was trying to do a balance transfer from my BoB Eterna card to SBI Card (both Visa), but an error kept popping up saying the card number is invalid.

I then contacted BoB customer support and was informed that "Balance transfer is not possible for any of the BoB cards". I am hearing something like this for the first time and it sounds super weird. Why would any bank want to not have balance transfer out of their cards? So customer are unable to pay the bills and the bank can earn interest?

What next, disabling the option to make credit card payments? 😝

On another hand, the experience of using BoB cards has not been great. So many exclusions to accelerated rewards that it is difficult to keep track. Milestone points take months to credit and customer support is average at best. Also there are a lot of confusions regarding wallet load.

 

[Ad.Astra]

So I was trying to do a balance transfer from my BoB Eterna card to SBI Card (both Visa), but an error kept popping up saying the card number is invalid.

I then contacted BoB customer support and was informed that "Balance transfer is not possible for any of the BoB cards". I am hearing something like this for the first time and it sounds super weird. Why would any bank want to not have balance transfer out of their cards? So customer are unable to pay the bills and the bank can earn interest?

What next, disabling the option to make credit card payments? 😝

On another hand, the experience of using BoB cards has not been great. So many exclusions to accelerated rewards that it is difficult to keep track. Milestone points take months to credit and customer support is average at best. Also there are a lot of confusions regarding wallet load.

Not all banks offer balance transfer facility, whatever their reasons may be.

HDFC and Axis don't seem to be either.

 

[cardwizard]

Not all banks offer balance transfer facility, whatever their reasons may be.

HDFC and Axis don't seem to be either.

Have seen this Balance Transfer feature in IDFC, btw which other banks give this?

 

[beingmohit]

Have seen this Balance Transfer feature in IDFC, btw which other banks give this?

SBI does. If I am not wrong, SC does too

 

[Ad.Astra]

Have seen this Balance Transfer feature in IDFC, btw which other banks give this?

SBI offers. There may be other banks too, which other technofino members can tell us about.

 

[rogerthat]

Not all banks offer balance transfer facility, whatever their reasons may be.

HDFC and Axis don't seem to be either.

Axis does. I have transferred Axis card balance to SBI Card.

 

[Ad.Astra]

Axis does. I have transferred Axis card balance to SBI Card.

Axis does? I haven't seen that option in my account, could you tell me where it is located?

 

[rogerthat]

Axis does? I haven't seen that option in my account, could you tell me where it is located?

I meant the transfer of Axis card balance to SBI Card. In this case the option will be located in the SBI Card portal.

 

[WhoU]

I meant the transfer of Axis card balance to SBI Card. In this case the option will be located in the SBI Card portal.

Are there any charges involved in balance transfer? And what are the benefits?

 

[beingmohit]

Are there any charges involved in balance transfer? And what are the benefits?

Normally, the balance transfer is counted towards the yearly milestone (SBI CC once told me). Charges are normally over 2% (plus GST). It is not really worth it IMO