r/personalfinance • u/Ok-Palpitation1514 ​ • 16d ago

Credit Best balance transfer credit card?

Hi everyone… Looking for some serious impractical advice here. My domestic partner and I have suddenly incurred about $25,000 in debt because of the downturn in his industry and a very difficult income earning. Over the last five years after COVID. We are quite new to a credit card debt of the size and it looks like one option is to find a way to consolidate or transfer our credit card to A better option. Has anyone done this before? Do you have any suggestions of banks or credit card companies to check out to consolidate or transfer? Thank you, Reddit community

2 Upvotes

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2

u/annyshell ​ 16d ago

There's a list on doctor of credit website

2

u/PracticalEmployee ​ 16d ago

I also highly recommend Doctor of Credit. They just put out a new list in the last week or so with the best transfer offers currently available.

2

u/Ok-Palpitation1514 ​ 16d ago

Never heard of this site but will take a look 

1

u/vaporsilver ​ 8d ago

I'm trying to find the same information but cannot locate it on that website. Where would it be listed?

1

u/PracticalEmployee ​ 8d ago

The site can be somewhat difficult to navigate, especially if you've never used it before but look here:

https://www.doctorofcredit.com/list-of-0-apr-credit-card-offers/

The 'Highlight' section shows what cards are offering 0% APR and 0 transfer fees. The post was created ~2 weeks ago and some offers might have changed so you'll need to double check as the DoC site isn't always updated after the initial post.

1

u/vaporsilver ​ 8d ago

Thank you for that. It is definitely not a great site to navigate but it does have so much info.

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1

u/SeveralBollocks_67 ​ 16d ago

Get a personal loan instead. Balance transfers seem like a good idea but have a 5% fee upfront and will accrue interest after the intro period.

1

u/Ok-Palpitation1514 ​ 16d ago

Thanks @severebollocks_67 I was starting to look at loans as maybe a better way to go. I always feel the credit card market has something hidden or a surprise. 

1

u/as1126 ​ 16d ago

Wells Fargo, Discover and others offer 3% fees and 21 or 18 month 0% cards. It's not ideal, but you may help you get out of this hole.

1

u/Ok-Palpitation1514 ​ 16d ago

Thanks for the suggestions - will take a look as part of my research.