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Balance Transfers Are Getting Harder to Use as a Debt Escape Route
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WTOP News
Balance transfers can give you breathing room on high-interest debt, but promotional rates are less common than they were a…Balance transfers can give you breathing room on high-interest debt, but promotional rates are less common than they were a few years ago.
Plus, borrowers who qualify for a balance transfer may not get a credit limit high enough to move all of their high-interest debt.
Promotional rates, such as 0% APR for purchases and/or balance transfers, are reaching a smaller share of accounts.
Though there’s no universal minimum credit score to get approved for a balance transfer card, strong credit helps.
Balance Transfers Are Getting Harder to Use as a Debt Escape Route originally appeared on usnews.com