Balance Transfer Guide – Move Debt to 0% APR

Balance Transfer — Move High-Interest Debt to 0% APR

A balance transfer card lets you move existing credit card debt to a new card with 0% interest for 12-21 months.

How Much You Save

$5,000 at 22% APR: $1,100 interest per year. Transfer to 0% card with 3% fee ($150). Save $950 in the first year alone.

Rules for Success

Pay off the entire balance before the 0% period ends. Never use the new card for purchases. Set up automatic payments. Close or freeze the old card to avoid re-accumulating debt.

Math Example

$8,000 balance. 0% for 18 months. Monthly payment needed: $8,000 ÷ 18 = $444/month. Total cost: $8,240 (with 3% fee). Without transfer at 22% APR: $9,760. Savings: $1,520.