If you have a series of credit cards and other high-interest rate debts that are difficult to keep track of and cause you difficulties in making payments, would you believe the answer to your problems could be yet another credit card? It is possible, if you consolidate all your debts through a balance transfer credit card.
Balance transfer credit cards still work like ordinary credit cards, but the rate and fee structure are set up to accommodate the moving of debt from one card to another. There will be an introductory low-interest period (often 0%) that gives you a cushion to pay off more of the principal on your collective debt.
Nerdwallet Credit and Banking Expert Sean McQuay advises, "If consumers want to lower their interest rate for cards they already have, the best option by far is this balance transfer where they basically are taking it from whatever the rate is today to...
from MoneyTips https://www.moneytips.com/balance-transfers-101
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