The rate on the balance transfer is applied to the balance you transfer only - it does not apply to any other transactions with the new card.
If you want to take advantage of this, consider how long it will take for you to pay off that balance at that introductory rate.
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3) Confusion because of too many bills Another common obstacle to getting out of debt is when the sheer number of bills you receive makes it hard to even keep track of which payment is due on which date. While there are some real benefits to debt consolidation, it’s extremely important that you do your homework and understand there’s a wide range of options when it comes to debt consolidation loans – some are good, some are bad, and some are downright predatory.If you’re in that kind of situation, there’s a good chance your debt will grow faster than you can pay it off.Which is why a consolidation loan can often prove to be a better option: it may allow you to get a lower interest rate, which would save you money over the long-run.Switching your debt to a card with a lower interest rate lets you: Credit card companies usually charge a fee for balance transfers.This will often depend on the size of the transfer and possibly the length of the introductory period.
Transferring your balance means moving all or part of a debt from one credit card to another.