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A good balance transfer offer can save you a bundle on interest charges. If you moved high-interest debt to a credit card with an introductory 0% APR period on balance transfers, for example, you could potentially pay it off interest-free. And there are plenty of excellent deals to be had; see NerdWallet’s best balance transfer credit cards for some top-notch options.
But before making a move, keep in mind that balance transfers also come with fees, rules about what you can transfer and certain credit requirements. If you can pay off your debt in three months or faster, or have subpar credit, the drawbacks might outweigh the benefits.
