interest rates

2 questions

What is a balance transfer credit card?

A balance transfer card lets you move existing credit card debt to a new card with a 0% introductory APR — typically lasting 12 to 21 months — so you can pay down the balance interest-free. A transfer fee of 3–5% usually applies upfront.
What is debt consolidation?

Debt consolidation combines multiple debts into a single loan or payment, ideally at a lower interest rate — it can reduce total interest paid and simplify your finances, but only works if the new rate is actually lower than your current average and you stop adding new debt.