Balance transfer cards are a powerful way to escape high-interest debt - if handled right

Chances are, you've been warned time and again about the risks of credit cards — high interest rates, hidden fees, the temptation to overspend, and the very real danger of sinking deeper into debt.

- BY JUSTIN GEORGE VARGHESE

But what if a credit card could actually help you get out of debt? While it’s true that credit cards often open the door to more spending, not all of them are designed to trap you. In fact, some cards offer a way to manage — and even eliminate — your debt smarter and faster.

“Credit cards that offer rewards or cashback can seem appealing, but if you're carrying a balance with high interest, any rewards you earn will be wiped out,” said Abu Dhabi-based consumer credit analyst Rajesh Markara.

“One smart way to escape debt is by using a balance transfer card — these let you move your existing debt onto a new card that offers zero interest for a set period.”

How balance transfers actually work