The main advantage of a balance transfer is the low-interest rate or 0% interest rate depending on the amount of your transfer and the time frame for repayments. This will then provide you with lower monthly payments by consolidating all your credit card debts under one card.
For example, Sarah is currently paying RM 10,000 on a credit card with an 18% interest rate. With a balance transfer to a credit card that charges 0%, or even one that charges 3% interest rate, she will be paying less on her monthly installments as a result of the lower interest rate.
Aside from the lower interest rate, a balance transfer will also help you to clear off your credit card debt faster because of the reduced charges incurred. This means that a balance transfer can provide you with a solution to clear off your credit card debt. Additionally, you can also improve your credit score with a balance transfer, however, this is provided you fulfil your monthly obligations diligently and promptly of course.