Should You Apply for a Balance Transfer?

By Mike Peterson
In July 25, 2016

If you’re struggling to pay down high-interest credit card debt, a balance transfer can be a powerful tool. Balance transfers offer super-low (or even zero-percent) introductory interest rates, which means they help you pay your principal balance off more quickly. But that doesn’t mean that balance transfers are for everyone. Use this decision tree to figure out of a balance transfer is a good option for you.

 

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Mike Peterson

Mike is the author of “Reality Millionaire: Proven Tips to Retire Rich” and he has been published in a variety of local and national publications including Entrepreneur Magazine, Deseret Morning News, LDS Living Magazine, and Physicians Money Digest. He holds a B.S. in business administration from the University of Phoenix.

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