I’ve written in the past about using a balance transfer in order to consolidate your debt or lower your interest rates. It is a method that I often hear about from my friends and clients. Basically, you transfer the balance of one credit card to another credit card. This is usually done to take advantage of low or no interest offers. Sounds like a great deal, right? It can be! But it’s important to know both the pros and cons of this approach before you dive in.

Why might someone want to do a balance transfer? Well, most people do it in order to take advantage of low or no interest fees while they pay down their debt. There are many credit cards out there that allow you to do this.



It’s clear that there are good things and bad things about doing a balance transfer. This is true for almost any financial decision you can make. The key is to weigh the pros and cons and decide what makes the most sense for you and your financial situation. Good luck!