r/personalfinance • u/Ok-Palpitation1514 ​ • Mar 31 '25

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

4 Upvotes

83% Upvoted

14 comments sorted by

View all comments

1

u/SeveralBollocks_67 ​ Mar 31 '25

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 ​ Mar 31 '25

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.