Balance transfer cards explained

A balance transfer moves debt from a high-interest card to a new card with a low or 0% introductory APR, so more of your payment reduces the balance.

How they work

You open a card offering 0% APR for an intro period (often 12–21 months) and transfer your existing balance. During that window, no interest accrues if you pay on time.

Watch the fees

Most transfers charge a fee of 3%–5% of the amount moved. Factor that in — it's often still worth it if you'll clear most of the balance during the 0% period.

The catch

Once the intro period ends, the regular APR applies to whatever is left. A transfer works best when paired with a real plan to pay the balance off before then.

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