Are Credit Card Balance Transfers Worth It?

At some point in time, you are likely to receive an offer in the mail. Transfer an existing credit card balance to a new card and receive a promotional interest rate for a set number of months. Are these offers worth it? It depends on the promotional interest rate, the length of the promotional period, what the standard interest rate is once the promotional period expires, and the fee to transfer your balance. Use Education First's Are Credit Card Balance Transfers Worth It Calculator to break down the differences in payoff and total interest.