 TITLE: All You Need to Know About Balance Transfer Credit Cards CONTENT: Downsides of Using a Balance Transfer Credit Card\n-------------------------------------------------\nNot everyone will qualify for a balance transfer credit card. If your credit score isn't yet in the good or excellent range, work on improving it by checking your credit report for errors, paying down balances, making all payments on time and avoiding opening new lines of credit unless you need them.\nYou'll likely pay a balance transfer fee, which is calculated as a percentage of each transfer. Your credit could also take a temporary hit as a result of your application for new credit. If you stand to save a significant amount in interest, however, the pros of using a balance transfer card could outweigh the cons. END