Are balance transfers worth it? They can be in some situations, but it depends on how you handle them. So if you’re thinking of doing a balance transfer, there are things you need to know first.
(If you’re not already familiar with them, you can find out more about what balance transfers are here.)
Don’t do a balance transfer unless you fully understand them, including their pros and cons. Because they may or may not be worth it, and there’s a bit of a catch.
So how do you tell if balance transfers are worth it when you’re paying off debt? Start by reviewing some of the pros and cons.