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[–] 41 points 1 year ago (3 children)

Credit cards also don't charge interest if you pay off the balance every month.

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  • [–] 6 points 1 year ago (1 child)

    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.

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  • [–] 3 points 1 year ago

    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.

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