Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Balance Transfer Cards and other Financial Planning topics.
If you have credit card balances sitting in high-interest credit card accounts, you might find the thought of a balance transfer extremely tempting. After all, you could take advantage of low or no interest for several months after a balance transfer, and that could give you enough breathing room to really make an impact on paying off the debt.
But a balance transfer is actually about more than just the interest rate you're charged. There are many other factors you should consider when doing your credit card comparison.
|Jennifer Mathes, Ph.D.|