Key takeaways
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Credit card refinancing is using a new loan or credit card to pay off your credit card debt.
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A balance transfer card could be the cheapest option, but only if you can pay off your debt during the 0% APR intro period. Otherwise, interest can add up quickly.
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Refinancing moves your debt; it doesn’t eliminate it. If you don’t slow down using your credit cards after refinancing, you’ll end up worse off than before you started.
How does credit card refinancing work?
To refinance your credit cards, you’ll…