If one or more of your credit cards is carrying a balance with a high interest rate, the monthly charges on that balance could be costing you some serious money. If that's the case, a credit card balance transfer could make a lot of sense.
By transferring your credit card debt from several high-interest cards to a single card with a lower rate, you could effectively reduce the amount you owe. This, in turn, frees up more money every month to pay off your balance faster—while helping keep better track of your debt, with one statement and one payment due each month versus many.
Here are some balance transfer tips to help you make the most of a low promotional rate credit card offer.
Lowering your interest rate with a credit card balance transfer can help you take control of your debt and pay off your balance faster.