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.
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.
Credit cards also don’t charge interest if you pay off the balance every month.
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.
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.
The way credit should be. All rewards do is take money from others on the end by having higher intrest to pay for all those rewards.