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observantplayground: 1 year ago

Which of these credit card features would be best for customers who want to pay off the balance on a high-interest credit card?

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Answer 1

trickypocket: 1 year ago

Balance transfer is a credit card feature that does this. However, this is a stopgap solution as it provides you only temporary and not a permanent relief. This is the case with zero interest transfer advertising hype among credit card providers. Yes they do offer zero interest only for a few months, afterwards however, you are charged much higher interest than your original debt. If possible consolidate your debts to possibly reduce your interest rates. Better if you keep your debts low, and spend only on what you can afford.

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