Should you apply for a balance transfer credit card offer? If you're like many Americans, you may have struggled with credit card debt for years or perhaps you've found yourself on an endless treadmill of making a minimum payment each month and never reducing the balance on your credit card. If your goal is to reduce your credit card debt, a balance transfer credit card may be one way to increase the speed of your debt reduction plan.
The primary reason to choose a balance transfer offer is to give yourself time to pay off the debt while getting relief from ongoing interest charges that add to that debt. Balance transfer credit cards frequently offer side benefits such as cash back rewards, airline miles or low interest rates on new purchases.