Many people like to transfer their credit card balances from one card to another. They usually do this because the new card offers a tempting introductory grace period where interest rates on the debt are either zero or very low. These grace periods, which can last for as long as a year (but almost never...
Credit card debt remains a serious financial problem for many Americans, but balance- transfer credit cards are one way consumers can actively start paying off and repairing their credit card debt by consolidating all of it on a single card.
Depending on your overall credit score and history, you might benefit not just from paying off your extenuating debts, but by also taking advantage of 0% APR introductory offers. This gives you the opportunity to save money on interest rates and simplify monthly payments by using only one card. Some balance transfer cards have fees, but if the fees are lower than what you would have paid in interest, it might be worth it. Before you sign any credit card applications, do your research on GOBankingRates, where you can find tips, expert advice and information on the best balance-transfer credit cards.
Win $500 – and Start the New Year Right!
When you sign-up to receive bi-weekly email updates from GOBankingRates, you’ll automatically be entered for a chance to win our $500 #BestBanksBestYou sweepstakes. Sign up now!
For official contest rules, please go to: gobankingrates.com/best-banks/official-rules/