Interest free balance transfers are a great idea for credit card debt consolidation but there are a couple of things to consider when applying.
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* Is there a transfer fee? Some credit card companies now charge you a % transfer fee. For example is the fee is 3% and you transfer $5000 (or pounds) you would a fee of $150 or pounds.
* What will the rate default to at the end of the transfer period? Seek out a low interest credit card so that if you haven't paid off the interest in full by the end of the transfer period the rate does not shoot through the roof.
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