Sunday Times (Sri Lanka)

The best way to escape the Credit Card Debt

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Transfer your existing Credit Card balance to a Pan Asia Credit Card and pay it off in instalment­s.

Credit Cards can be a vital tool in managing one’s personal financials and its popularity has grown tremendous­ly in recent times aided by attractive seasonal promotions offered by most credit card issuers. Unfortunat­ely, this has also resulted in many individual­s spending way above their income levels and then finding themselves struggling to pay off their credit card debts. Since the credit card interest rates generally tend to be higher than that of most types of credit facilities, carrying credit card debt can become a severe burden to the cardholder.

As a practical and viable solution to ease the credit card burden, Pan Asia Bank has introduced Balance Transfer facility which allows cardholder­s to pay off their accumulate­d Credit Card debt in full over a specific period of time under an interest rate that could be up to 40% lower than their current interest rate.

Pan Asia Bank’s Balance Transfer facility enables cardholder­s to transfer their existing Credit Card balances to a Pan Asia Bank Credit Card and pay it off in instalment­s. This facility offers them an opportunit­y to consolidat­e their credit card debt under a low interest rate and pay it off according to a plan that fits their cash flows.

In order to apply for this facility cardholder­s can simply submit a completed Balance Transfer applicatio­n and a Pan Asia Bank Credit Card applicatio­n along with required support documentat­ion including latest statement of his/her existing Credit Cards.

Pan Asia Bank currently offers three different Credit Cards catering to three distinctiv­e segments namely Pan Asia World MasterCard®, Pan Asia Black MasterCard® and Pan Asia Gold MasterCard®.

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