, Columnist
Zero-Interest Credit Card Offers Aren't a Free Ride
Transferring your balance at 0% sounds mighty tempting if you have a growing mound of debt, but most people should probably stay away.
Another card isn’t the solution.
Photographer: Olivier Douliery/AFP
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Now is not a good time to be running up the balance on your credit card.
Interest rates are climbing. The average rate for a new card is more than 20%, based on a review by LendingTree of about 200 card offers from banks and credit unions. For the past several years, card rates for those carrying balances had hovered around 16%.