Banks created balance transfer facility because they want to grab your credit card account from other banks..it's one of the most or maybe the most lucrative lending portfolios they must have.
Balance transfer should be ok if you can manage your financial matters diligently..or else it's just like digging a new hole to cover the old one.
The better way is to pay more than the stated min amount each month, or paying off credit card debts should be the highest priority compared to other loans with lower interest.
Balance Transfer, What is it actually???
Dec 2 2010, 01:25 PM
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