There’s also something called a “line of credit” which is basically a credit card with lower interest and no cash advance fee, but no rewards.
Obviously you don’t want to keep a balance on that either, but if you can’t fully pay off your credit card, you can at least save money by transferring the debt there.
My thinking is that it’s a way to avoid adding to existing credit card debt, and accumulate more net “interest free debt” so to speak, as it’s a separate pool from a credit card.
Yes, I know. But if one is going to have the debt one way or the other, I kinda see the logic.
Credit cards also don’t charge interest if you pay off the balance every month.
There’s also something called a “line of credit” which is basically a credit card with lower interest and no cash advance fee, but no rewards.
Obviously you don’t want to keep a balance on that either, but if you can’t fully pay off your credit card, you can at least save money by transferring the debt there.
My thinking is that it’s a way to avoid adding to existing credit card debt, and accumulate more net “interest free debt” so to speak, as it’s a separate pool from a credit card.
Yes, I know. But if one is going to have the debt one way or the other, I kinda see the logic.