How to Avoid the Balance Transfer Trap

Balance transfer cards can be a useful tool for reducing your interest rate and helping you pay off your debt faster. With the right balance transfer offer, more of your monthly payment can go to the principal, and you will pay less over time – in addition to getting out of debt quicker.

Unfortunately, as with so many financial tools, when used improperly a balance transfer card can actually cause more problems. In some cases, a balance transfer can result in a delay to paying off debt –and ca...