Best Balance Transfer Credit Cards: Escape High Interest Without Getting Burned
Understanding Balance Transfer Credit Cards: Balance transfer credit cards allow you to move debt from one credit card to another. Many of these cards offer a promotional 0% annual percentage rate (APR) for a set period, often between 12 and 21 months. During that time, you can pay down your balance without adding more interest charges. This can be a useful tool for people carrying high-interest debt. Instead of watching interest eat away at each payment, more of your money goes directly toward reducing the balance.