Paying off debt with a balance transfer card can sometimes be a catch-22: They typically require good credit to qualify, but those who need them most often have credit issues.
While a 0% balance transfer card can be a great fit for some, it’s often not a reliable solution for everyone. Not only are they difficult to qualify for, but they typically charge fees and can tempt you into overspending again.
These types of cards can be a popular option, but everyone’s debt is different. If you have too much debt for a balance transfer card to cover or are worried about qualifying, CNBC Select goes over a few alternative choices.
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