Chapters
A TikToker suggests opening a new credit card with 0% interest to transfer existing debt and avoid interest for 18 months. George Kamel criticizes this approach, arguing that transferring debt doesn't eliminate it and suggests paying off existing debt instead of accumulating more.
- Transferring debt to a 0% interest card delays interest payments but doesn't eliminate the debt.
- A $200 transfer fee is involved in the "Hot Girl Debt" hack.
- Kamel recommends paying off debt directly instead of opening new credit cards.
Shownotes Transcript
