The Pros and (Mostly) Cons of Balance Transfer Credit Cards

0
670

credit-cards-pile

By Geoff Williams

So you have credit card debt. Maybe a lot. What’s more, it’s on a high-interest credit card, and it’s killing you. So you’ve stumbled on the idea of doing a balance transfer to a lower-interest, or maybe even a zero-interest, credit card.
And why not? Many cards like these exist, offering zero balance – sometimes for as long as 18 months.
If that’s your plan, some congratulations or sympathetic mutterings are in order. You’re either about to make a shrewd financial move, one that will save you potentially thousands of dollars – or you’re about to make a classically dumb decision, one that could potentially haunt you for years to come.
You probably know why it’s a good or bad idea. If you transfer revolving debt that you’re paying a lot of interest on to another card, and you pay off the debt, that’s good. If you transfer money to another card, and the debt remains – and you end up racking up revolving debt on that credit card, too – then that’s very bad.
“Read the Full Article at money.usnews.com >>>>”

ATTENTION READERS

We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
Previous articleNew program provides Nevada veterans free legal help
Next articleHome Depot Discounts No Longer Honor All Veterans or Do They?