If you have run up a large bill on a credit card that charges a high annual percentage rate, it may make sense to transfer the balance to another card that offers a lower rate. But before you agree to move existing debt to a card that promises a very low APR on balance transfers, read the fine print.
Even if you are offered a great initial rate on a transfer, it may only last for a short time. If you have a debt you are unlikely to pay off within the introductory period, you may be better off opting for a card that offers a slightly higher rate that does not expire. Watch out, too, for annual, late, and over-the-limit fees, as well as high rates on new purchases. $
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