In this article, we’re going to learn how a balance transfer can help you take control of your finances and save you money.
A balance transfer is the process of consolidating these debts into one single repayment plan.
The goal of a balance transfer is to reduce the amount of interest paid by as much as possible.
Some balance transfer credit cards offer 0% APR but often incur a one-off transfer fee.
Don’t continue to use your credit cards after doing a balance transfer–you can keep it open even if you don’t plan on using it.
Paying off your credit card debt quickly and consistently will improve your credit score.