If you are in the unfortunate position where you have to transfer the balance of one credit card onto another credit card there are a few things you need to be aware of:
1) There will be a fee of about 3% based on the balance you are transferring
2) How long is the deal for? Is it a date or a set period of months?
3) How high is the interest rate (APR) when the deal is over?
4) If you miss one monthly minimum payment the deal may be void
5) Don't use the old credit card just because you can, REMEMBER, if you cannot be trusted: CUT IT UP!
Credit cards were not designed for long term borrowing but many people find themselves in the situation where they carry credit card debt round for years hardly making a dent in the balance.
They can often end up being the most expensive way to borrow money.
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