The Pros and Cons of Balance Transfer Credit Cards – Everything You Should Know About Using a Balance Transfer for Credit Card Debt

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.

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