Reported 2 days ago
Balance transfers are an effective strategy for managing credit card debt, allowing individuals to move high-interest balances to credit cards with 0% introductory APR. It's crucial to evaluate factors such as the duration of the introductory period and fees involved. While balance transfers can provide significant savings on interest and simplify payments, they require a commitment to paying off the transferred amount before the promotional period ends to avoid accruing additional interest. This approach is ideal for those with a clear debt repayment plan.
Source: YAHOO