Balance transfer - what you should know

Let face it, we all have credit card debts. Whether it’s because of over indulgence (maybe you couldn’t resist that nice pair of shoe too many times or a nice Omega watch on sale). The fact is more and more people are carrying credit card debts, the most expensive form of debts. It’s no wonder that there are so many “balance transfer” offers out there. Some offer 0% interest for 6 months, even 12 months. Others will offer you very low interest for the life of the balance transfer, like Citibank’s Ready Credit offering 6.99% for life, sound like a very good deal isn’t it? What’s in it for the bank then?