Are you submerged in credit card debt? If yes, then you must be considering credit card balance transfer to eliminate your debt. Well, 0% balance transfer offers are quite common these days, and they are becoming more and more popular with the consumers. But they can also put you in trouble.
What do credit card companies promise with balance transfer?
How can balance transfer sink you further in debt?
Read balance transfer offers a bit more carefully. You would notice some significant details at the bottom of the page:
Balance transfer can be a reckless move if you are already in debt. Instead of fixing your debt woes, it can put you further in debt. If you have poor spending habits, and you have not bothered to read the “conditions apply” disclaimer, then balance transfer will surely backfire. Therefore, you must critically understand an offer before opting for balance transfer.Alternatives to balance transfer
If you are looking for a way to get rid of your credit card debt woes then consider the following points: