Queries on SBI Credit Card Balance Transfer

[SayonB@97]

Hi,
I have a HDFC credit card and my friend has an SBI credit card. I want to transfer my credit card bill to his SBI card just so that I can pay the bill using HDFC Net Banking (currently HDFC Net Banking does not support HDFC credit card bill payment) and get 1% cashback point in my debit card. I have 2 questions:
1. Will this any way harm or affect CIBIL score?
2. There are 2 options during SBI balance transfer - Balance Transfer & Balance Transfer on EMI. I chose Balance Transfer since I want to pay full amount right now. Then again I get 2 tenure options:
a. Tenure 60 days - some processing fees & 0% interest - I don't want to pay extra so will not choose this.
b. Tenure 180 days - No processing fees & 1.7%p.m. interest - I am unable to understand this option, so want help on this one. I can and will pay the bill on the SBI card on the same day I do the balance transfer. But will I still have to pay some interest amount with this option? Please help me understand this option, if any one is aware. I have attached the screenshot for reference.

 

[financial12345]

Use sbi uni pay via any rupay credit

 

[SayonB@97]

Use sbi uni pay via any rupay credit

Can you please elaborate? I did not understand anything.
Btw, I dont have a Rupay Credit Card

 

[financial12345]

Which bank you have

 

[SayonB@97]

Which bank you have

I only have a HDFC Millenia credit card and my friend has SBI credit card.

 

[NARINDER17]

Hi,
I have a HDFC credit card and my friend has an SBI credit card. I want to transfer my credit card bill to his SBI card just so that I can pay the bill using HDFC Net Banking (currently HDFC Net Banking does not support HDFC credit card bill payment) and get 1% cashback point in my debit card. I have 2 questions:
1. Will this any way harm or affect CIBIL score?
2. There are 2 options during SBI balance transfer - Balance Transfer & Balance Transfer on EMI. I chose Balance Transfer since I want to pay full amount right now. Then again I get 2 tenure options:
a. Tenure 60 days - some processing fees & 0% interest - I don't want to pay extra so will not choose this.
b. Tenure 180 days - No processing fees & 1.7%p.m. interest - I am unable to understand this option, so want help on this one. I can and will pay the bill on the SBI card on the same day I do the balance transfer. But will I still have to pay some interest amount with this option? Please help me understand this option, if any one is aware. I have attached the screenshot for reference.
View attachment 252

Dear friend
This option simply means that you will get the loan for Rs.36734.00 and have to repay in tenure of 6 months at the rate of 1.70%PM (1.70 x 12=20.40%PA)

It's better to choose option B and repay the amount in 2 months without any interest only at nominal fee of Rs734.00

Regards

 

[SayonB@97]

Dear friend
This option simply means that you will get the loan for Rs.36734.00 and have to repay in tenure of 6 months at the rate of 1.70%PM (1.70 x 12=20.40%PA)

It's better to choose option B and repay the amount in 2 months without any interest only at nominal fee of Rs734.00

Regards

Actually I can pay the whole amount right now. My only intention of transferring the balance to SBI card is so that I can use the HDFC Netbanking to pay the card bill and get 1% cashback. So I am not willing to pay anything extra, even if that is nominal processing fees.
Hence I am asking that whether in the option 'b', if I pay the full amount instantly after transferring the balance, will the 1.70% p.m. interest still be levied on the SBI card?

 

[financial12345]

I only have a HDFC Millenia credit card and my friend has SBI credit card.

Pay the HDFC bill via SBI uni pay in payment section use any rupay credit card to pay the HDF. BILL due to which the outstanding will be only in one account

 

[SayonB@97]

Pay the HDFC bill via SBI uni pay in payment section use any rupay credit card to pay the HDF. BILL due to which the outstanding will be only in one account

Okay. I was not aware of SBI Unipay. Althoguh I dont have a Rupay Credit Card, but thanks for the suggestion.
Can you tell me whether by paying the bill through SBI Unipay will I get 1% cashback or any other cashback?

 

[financial12345]

Okay. I was not aware of SBI Unipay. Althoguh I dont have a Rupay Credit Card, but thanks for the suggestion.
Can you tell me whether by paying the bill through SBI Unipay will I get 1% cashback or any other cashback?

Don't know

 

[NARINDER17]

Actually I can pay the whole amount right now. My only intention of transferring the balance to SBI card is so that I can use the HDFC Netbanking to pay the card bill and get 1% cashback. So I am not willing to pay anything extra, even if that is nominal processing fees.
Hence I am asking that whether in the option 'b', if I pay the full amount instantly after transferring the balance, will the 1.70% p.m. interest still be levied on the SBI card?

No, you to pay only processing charges only I e Rs.734.00

 

[SayonB@97]

No, you to pay only processing charges only I e Rs.734.00

Sorry, I typed the wrong option by mistake. I was talking about the 180 day tenure option which has no processing fees but has 1.7%p.m. interest.
In that, if I pay the full amount instantly on the same day to the SBI card after transferring the balance, will the 1.70% p.m. interest still be levied on the SBI card?