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Question 16

Balance transfers with 0% promos can help if you can repay during the promo, but transfer fees and post-promo APRs matter.

A balance transfer will always reduce your total interest costs if:

Did You Also Know...

By Wise Wallet

Choosing a shorter auto loan reduces total interest paid but increases monthly payments—tradeoffs between cost and cash flow matter.

You ignore the transfer fee.You extend the term indefinitely.You pay off the balance during the 0% promo and the fee is smaller than interest avoided.You make only minimum payments.
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