Could you benefit from a 0% APR offer on balance transfers even if you don’t plan to pay off the entire balance during the promo period?
The benefit one would get in this situation is short-lived. While one might enjoy no interest for the promo period, when that period is over, the interest rate they are charged could be more than the credit card from which they transferred. My recommendation is that if one does a balance transfer, then only do so if they are able to pay off that balance BEFORE the promo period ends. Otherwise, the benefits do not outweigh the costs.
Answers by
Augusta University
powered by
