Should You Get a New Credit Card?
You Have a Large Balance on Another Card
Although no one signs up for a credit card with the intention of racking up a monstrous bill, the reality is that it can happen
... even to the best of us. By transferring the balance to a low- or no-interest card, you may be able to pay off that debt
more efficiently since such cards will typically waive interest payments for a set period of time (usually 15 or 18 months)
as a benefit for new users. This can give you a grace period to attack the balance without racking up additional interest
But before you sign on the dotted line, just be sure to read the fine print to see if the card will be a good fit for you after you pay off the balance transfer. Specifically, look for features like low or no annual fees, and an interest rate that's lower than what you have with your existing card.
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