When money gets tight or credit card bills start piling up, it helps to have options available to manage your cash flow. Balance Transfer and CashXcess are two ways you can use your credit card to gain financial flexibility. While both come with fees and repayment/payment commitments, they serve different purposes and can be highly beneficial when used wisely. Here’s a closer look at how each option works, their key benefits, and which might suit your financial situation better.
What is a Balance Transfer?
A balance transfer allows you to move your existing credit card debt to another card with a lower interest rate/ profit rate. Many credit card balance transfers feature low or even 0% interest/ profit rate during the introductory period, helping you save more and pay off your outstanding balance faster.
Choose a Balance Transfer if you want to:
- Consolidate multiple credit card debts into one manageable payment
- Reduce your interest/ profit rate and overall repayment/payment amount
- Clear your outstanding balance faster
With RHB Smart Move Balance Transfer, consolidate balances from other banks’ cards to your RHB Credit Card/-i and enjoy competitive rates from 4.88% p.a. for up to 36 months.
What is CashXcess?
CashXcess is a convenient cash withdrawal facility from your RHB Credit Card/-i that gives you fast access to cash when you need it most. It works as a structured cash advance, allowing you to convert your available credit card limit into ready cash—typically at lower rates than standard ATM withdrawals.
With interest/ profit rates starting from just 7.88% p.a. and tenures of up to 48 months, CashXcess offers flexibility and affordability in repayment/payment. You can access up to 80% of your available credit limit, with no processing or early exit fees, making it a practical option for covering urgent or unexpected expenses.
Choose CashXcess if you:
- Need quick access to cash
- Prefer fixed-term repayment/payment
- Value repayment/payment flexibility over promotional rates
With RHB CashXcess, turn your RHB Credit Card/-i limit into fast cash at rates from 7.88% p.a. with the final rate depending on your chosen tenure.
How to Make the Most of Your Balance Transfer and CashXcess
Using Balance Transfer or CashXcess can be a smart financial move, but only if managed wisely. Here’s how to make the most of each option:
For Balance Transfers:
Before applying, take a moment to check how long the promotional rate lasts and what the standard rate will be once it ends. Most balance transfers also come with a one-time fee, usually a percentage of the amount transferred, so it’s worth weighing this cost against the potential savings on your interest/ profit rate before making the switch. Most importantly, keep your spending in check and avoid making new purchases on the transferred card, so every repayment truly brings you closer to being debt-free.
For CashXcess:
Choose a repayment/payment tenure that fits your budget comfortably. While longer terms may lower your monthly instalments, they can increase your total cost over time. Be consistent with repayments/payments to avoid rollover interest/effective profit rates, and keep an eye on your remaining credit limit to prevent overspending while the plan is active.
Both options can be useful tools when used responsibly, helping you take control of your finances without adding unnecessary strain.
Make the Right Choice for Your Financial Needs
Both Balance Transfer and CashXcess serve different purposes—one helps you manage and clear existing debt, while the other gives you quick access to cash. The right choice depends on your financial goals and spending discipline. Before deciding, take a moment to review the latest RHB terms and conditions, including promotional rates and eligibility requirements.
Ready to get started? Contact us or visit our website to explore RHB CashXcess or speak with an advisor to find out more about RHB Smart Move Balance Transfer to find what works best for you.
