Debt reduction credit cards are designed to help individuals consolidate and pay off high-interest debts, often at a lower interest rate. They typically offer a 0% introductory APR on balance transfers for a limited time, allowing cardholders to save money on interest charges while paying down their debt.
Debt reduction credit cards can be a valuable tool for managing debt, but it’s important to use them responsibly. Cardholders should make sure to pay off their balance in full each month to avoid paying interest charges. They should also be aware of any fees associated with the card, such as balance transfer fees or annual fees.