| Q. | What are the requirements to apply for Balance Transfer? |
| A. | Balance Transfer is open to any basic personal Cardholder of Diners Club (Singapore) Pte Ltd whose Card Account is current and in good standing as determined by Diners Club. |
| Q. | How long can I enjoy the interest-free period for Balance Transfer? |
| A. | Presently, Balance Transfer offers you interest-free amounts at 0% per annum for 6 months. |
| Q. | What is the Balance Transfer amount I can apply for? |
| A. | You can apply for amounts from S$500 and up to 90% of your total combined Card Account credit limit, or a maximum of S$50,000 (whichever is lower); subject to the available balance; at the time of approval. |
| Q. | How long does it usually takes to approve my Balance Transfer application? |
| A. | If all is in order, approval usually takes between 5 to 7 working days from the receipt of your application. Upon approval, the amount will be directly banked into your designated credit card account(s) within 4 working days. |
| Q. | How would I know the result of my Balance Transfer application? |
| A. | We will send you a letter informing you of the outcome of your application. |
| Q. | Can I request for a cheque to be issued to me instead of crediting it into my designated credit card account(s)? |
| A. | Currently, we are unable to arrange for a cheque to be issued to you. |
| Q. | Is there other fees I need to pay? |
| A. | A small processing fee of 6% of the approved amount will be charged and debited to your Card Account immediately upon disbursement of the approved amount. |
| Q. | How do I repay my Balance Transfer amount? |
| A. | You just need to repay the amount in six (6) monthly instalments. For easy calculation, the cents will be rounded up and charged in the first instalment (please refer to the example below). Each instalment will be treated in the same manner as a charge arising from a Card Transaction in respect of your Card Account, of which Diners Club will send you monthly statement and is payable in accordance with the terms and conditions of the Card Account. Example: Approved Balance Transfer amount – S$1,000 First Instalment amount - S$170 Subsequent 5 remaining instalment amount – S$166 |
| Q. | When will I be billed with my first instalment? |
| A. | Your first instalment payment will be debited to your Card Account immediately upon disbursement of the Balance Transfer amount to your designated credit card account(s). |
| Q. | How will my credit limit be affected when I use Balance Transfer? |
| A. | The available overall limit on your Card Account will be provisionally reduced by a blocking out of the approved Balance Transfer amount, plus the processing fee. This will be progressively restored by the monthly amount payment received by Diners Club. |
| Q. | Can I choose to repay my Balance Transfer amount before the end of 6 months? |
| A. | Yes, however any early repayment and/or account cancellation is subject to an administration fee of S$150. |
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