By Morgan Noll Updated December 01, 2021
Plastic is handy. But if you pay only the minimum balance on a credit card every month rather than the full balance, the consequences can be pricey. (You could easily be shelling out today for a flat-screen TV you bought in 2019.) Plus, if your card has a high annual percentage rate, or APR (think 18% and up), it can feel impossible to rid yourself of debt. So it’s no wonder that 0% balance-transfer offers are so enticing. They allow you to move a balance from a credit card that charges interest to a card that doesn’t for a set amount of time—but, should you bite?
Before determining if a balance transfer card is a good idea for you, there are three primary considerations you need to take into account: your credit score, your timeline, your spending, and the balance transfer fee. Read more HERE.