I am sure you’ve been seeing this photo in so many leaflets, posters, banners, stickers and even in tv ads. 0% balance transfer. Nothing wrong with trying it out. But then beware of hidden charges of some unscrupulous credit card companies. I fell victim to this in the past. I transferred my existing balance in one of my credit cards to this new one and was shocked to find additional charges when my first bill came. Apparently, it was not explained to me properly that there were charges that I needed to pay on top of the transferred balance. No backing out of it anymore but I was very careful after that.

Now, I am maintaining two credit cards that I use for emergencies only. I am an impulsive buyer so getting more credit cards is a no-no for me. Otherwise, I might end up neck-deep in debt again, like what happened to me before.