Key takeaways ; Before taking on a balance transfer offer to consolidate debt, budget for a monthly payment plan to pay it off. ; Select a balance transfer card that’s suited to your credit score and look into the terms and conditions of the offer. ; Make it a priority to pay off the transferred balance within the introductory 0 percent APR period, otherwise you will face a much higher interest rate once the promotion ends.
A balance transfer moves high-interest debt to another card, usually one with a 0% intro APR, so you save on interest while paying off debt.
Key takeaways A balance transfer credit card is a type of card offering a 0 percent introductory APR period during which you can pay off your debt faster without interest. With a balance...
Are you looking for a temporary break from APR? One of the balance transfer credit card offers available on Bankrate could help you pay down balances, improve your credit score and save on interest...
Balance transfers are a useful financial tool but often come with fees. Here's how to save with the best credit union cards offering no transfer fees.
Balance Transfer Basics ; What is a balance transfer fee? ; How to manage debt with a balance transfer card ; How long does a balance transfer take? ; What is the limit for a balance transfer card? ; Everything you need to know about balance transfer checks
Key takeaways ; A balance transfer credit card with an introductory 0 percent APR can help you pay off existing debt. Decide whether it’s worthwhile to transfer the debt considering that balance transfer offers typically carry a fee, and the regular APR can be considerably higher if you don’t pay off your debt within the introductory window. Compare different card offers to determine which might work best for you, keeping in mind that — even if balance transfer cards offer introductory zer...
Key takeaways ; A 0 percent intro annual percentage rate (APR) card can help you consolidate and pay down debt faster – without interest payments – if you’re disciplined in how you use it. ; These cards typically come with a balance transfer fee, and you risk losing the 0 percent intro APR if you’re late with a payment. ; If you can’t pay off what you transfer before the intro period ends, you’ll pay much higher interest on the remaining balance.
Plenty of people with credit card debt are overlooking balance transfer cards. Used properly, these can provide you with tremendous savings.
Learn how a 0 percent APR credit card can help you save money on interest and how to maximize its benefits in this guide.