Capital one consolidating credit card debt
Transferring your balance means moving all or part of a debt from one credit card to another.People often use them to take advantage of lower interest rates.If you’re in that kind of situation, there’s a good chance your debt will grow faster than you can pay it off.Which is why a consolidation loan can often prove to be a better option: it may allow you to get a lower interest rate, which would save you money over the long-run.Wise Bread does not include all card offers in the marketplace.If you’re in debt, you may have asked yourself: “Is debt consolidation a good idea?Switching your debt to a card with a lower interest rate lets you: Credit card companies usually charge a fee for balance transfers.
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The rate on the balance transfer is applied to the balance you transfer only - it does not apply to any other transactions with the new card.
If you want to take advantage of this, consider how long it will take for you to pay off that balance at that introductory rate.
Choices may not suit each individual, and you need to consider your own circumstances or seek advice.
Also check back with us regularly, because card issuers may change offers at any time.