For a while there, balance transfer offers dried up.
By now, you may be seeing more and more of those familiar 0% promotions. Banks have renewed efforts to win new customers, but things are a little different this time. Before jumping on one of those offers, check the fine print.
You always had to pay a fee for balance transfers, but those fees have increased. Instead of a small percentage with a cap of roughly $100, fees are now up to 4 or 5 percent. If you pay 4% to transfer money for a year, 0% starts to look expensive.
It's possible that you can still save money if you're paying high interest rates. However, shifting the debt around should not be a long term solution.
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