Balance Transfer Traps Banks Don’t Explain Clearly
Balance Transfer Traps Banks Don’t Explain Clearly Balance Transfer Traps Banks Don’t Explain Clearly Balance transfers sound simple: move debt to a 0% card and save on interest. In practice, small rules and timing details quietly decide whether you actually save money—or lose it. Why balance transfers look better than they really are Most offers highlight the headline number: 0% APR for 12–21 months . What’s less obvious is how fees, payment rules, and deadlines interact once the transfer posts. Common assumption: “Once the balance is transferred, I’m safe for a year.” → In reality, several triggers can end the benefit early. The balance transfer traps banks rarely explain clearly 1️⃣ The transfer fee quietly eats your savings Most U.S. balance transfer cards charge a 3–5% fee . On a large balance, that cost can rival months of interest. Example math: $8,000 balance transfer 4% transfer fe...
