0% Balance Transfer Deals
At first glance, they sound irresistible –paying zero interest on our debt. Why wouldn’t want that, right? Well, for many people, this actually backfires. Without the interest, they have no motivation to pay off the card. Without the motivation, many just make the minimum monthly payment and that rate it will take forever to pay off the balance.

The solution? If you don’t have the self control and dedication to pay off your debt, you need to realize these credit card deals may actually be a mental catalyst that just keeps you in the hole. Instead of spending your time trying to find the best balance transfer offer, you may be better off spending that time earning some extra income so you can pay it down faster.

Balance Transfer Fees
This is another reason a transfer may not always be a good idea. Nowadays, most issuers tack on an extra 3 to 5% fee just to transfer your balance. If keep transferring the balance around, you can imagine how that adds up.

The solution? Obviously you should try and get the lowest fee is you have to do this. A few banks and credit unions will do it for 3%, but what you may want to do is call up customer service and see if they will beat that. If your negotiating skills are good, you may be able to have them waive this fee.

Rewards
If you’re spending money, you might as well get something back for it, right? Well that’s the whole concept reward credit cards. Generally speaking, these are a good deal. But with literally hundreds out there offering a rebate of some sort, it can be confusing knowing which card is right for you.

The solution? There’s a plethora of online sources to find the best credit card deals, so this shouldn’t be that hard. Look for those that give the highest rebates in the categories you typically spend the most. But if getting a little cash back is going to encourage you to spend more, then ironically, you may want to stay away from them.