Title: What is a Balance Transfer on a Credit Card? A Complete Guide
Introduction:
In the world of personal finance, credit cards have become a ubiquitous tool for making purchases and managing expenses. Along with their convenience, credit cards also offer various financial features that can help users save money and manage their debt effectively. One such feature is a balance transfer, a popular option that allows cardholders to move their existing credit card debt to another credit card with a lower interest rate. In this comprehensive guide, we will explore what balance transfers are, how they work, their benefits and drawbacks, and some essential tips to consider before opting for one.
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