Balance Transfers | Credit Card Topics

What is a Credit Card Balance Transfer Fee?

By: Eric Bank, 10/1/2024

Perhaps you like to carry a credit card balance from month to month and have a plan to pay it off a little at a time. Well, if you decide to make a few minimum payments and your balance starts to creep up, the interest charges on your balance will also rise like the tide. Many people have found themselves in that situation, and that’s why balance transfers have become such a popular option. A balance transfer is when you move your high-interest balances to a new credit card... read more »

5 Longest 0% APR Balance Transfer Cards (2024)

By: Ray Prince, 5/21/2024

The average credit card balance was $5,910 in 2022. Combined with sky-high Federal Reserve interest rates and inflation, now has never been a better time to consider a 0% APR balance transfer card to better manage your credit card debt. The benefit 0% APR balance transfer cards provide cardholders is relief from high-interest debt. These cards allow consumers to transfer balances from one or more high-APR cards to a single card offering interest-free payments on new purchases and... read more »

6 Balance Transfer Cards For 650-700+ FICO Score (March 2025)

By: Eric Bank, 3/19/2025

Cards with balance transfer promotions can save you big bucks. You can use them to consolidate credit card balances and pay no (or reduced) interest for a set period. But a poor FICO score creates challenges when you apply for a balance transfer card, as most require a credit score of 600 or higher. We’ve examined the credit card marketplace and found the best balance transfer cards for less-than-perfect credit. You may be able to use one of these cards to reduce your debt and... read more »

0% For 12+ Months: Balance Transfer Cards (May 2025)

By: Eric Bank, 5/9/2025

Imagine this scenario: You own five credit cards with a combined unpaid balance of $10,000. Right now, you’re paying more than $200 per month in interest charges. Wouldn’t you like to pocket that $200 instead, perhaps using it to help pay down your debt? If your answer is “Of course!”, this article is for you. It will tell you all about consolidating your credit card debt and avoiding interest charges for at least one year. In my book, that’s a darn good deal. ... read more »

0% For 24 Months Balance Transfer Cards (May 2025)

By: Eric Bank, 5/9/2025

While they may say you can never be too rich or too thin. I say your credit card’s balance transfer promotion can never last long enough. Just think of it! A year or two of 0% interest on the debt you consolidate from your other credit cards. Balance transfers provide an excellent opportunity to chop down the forest of debt you’ve accumulated without the drag of demon interest. Of course, a deal this good can’t go on forever. But just how long can it last? Most... read more »

7 Easiest Balance Transfer Cards to Get (2023)

By: Bob Haegele, 7/13/2023

If you have or expect to have a large credit card balance, consider one of the easiest balance transfer cards to get. In addition to their lengthy intro periods with 0% APR, they often have signup bonuses and additional perks. A common issue with balance transfer cards is that they can be limited to consumers with good to excellent credit. That can be a problem, especially since those with the highest balances often have less than stellar credit. Consider the cards on this list if... read more »

0% For 21 Months: Balance Transfer Cards (2025)

By: Eric Bank, 4/30/2024

Twenty-one months is a long time. That’s how long it takes an elephant to give birth. It’s also the longest period generally available for 0% APR balance transfers. No wonder they are so rare – the cards, not the pachyderms. We review the few credit cards currently available with 21 interest-free billing cycles, along with several of the more common 18-month variety. These cards offer new cardmembers a thrifty way to consolidate their credit card debt. Although some are... read more »

12 Best Credit Cards to Transfer High Balances (May 2025)

By: Aaron Crowe, 5/9/2025

According to Federal Reserve data, American households carry an average credit card balance of just over $6,000, which can make the best credit cards to transfer high balances worthy of consideration. If you're not paying your balance off each month and are accruing hefty interest fees, these cards can help you save a lot of money and speed up your debt payoff efforts. And many of these cards offer great rewards programs that make them solid long-term additions to your wallet. ... read more »

Are Balance Transfer Cards a Good Idea? (May 2025)

By: John Ulzheimer, 5/9/2025

Balance transfer credit cards are often touted as a solution that could help you get a handle on your credit card debt. The question is, as it often is with credit products, is opening a new credit card to pay off another one actually a good idea? Isn’t that just using debt to pay off debt? Everyone's debt situation is different, of course. Yet, in many cases, a balance transfer credit card can be a very useful tool to help you save money on interest, pay down credit card debt, and... read more »

6 Balance Transfer Cards With High Limits (May 2025)

By: Adam West, 5/9/2025

You’ll need to find the right balance transfer cards with high limits if you want to affordably consolidate credit card debt. After all, a low limit will keep you from really getting to work on those existing balances. With the cards listed below, you can transfer your existing debt to the new account and take advantage of a promotional period with no interest on the amount you owe. The length of your balance transfer offer will depend on the card you qualify for. During this... read more »

5 Best 0% Balance Transfers For 18+ Months (2024)

By: Eric Bank, 8/27/2024

When the problem is too much credit card debt, the solution may be one of the credit cards with the best 0% balance transfers for 18+ months. These cards not only allow you to consolidate your credit card debt, but they also can save you a ton of money in interest expenses. And if you’re going to pay the fee to transfer balances anyway, you may as well get 18 months or more of no-interest payments. Keep reading to see which cards offer this money-saving benefit that can help... read more »

9 Best 0% Balance Transfer Credit Cards (2025)

By: Ashley Fricker, 5/9/2025

With the best 0% balance transfer credit cards, you can tackle existing credit card debt or make a large purchase without taking on the burden of high finance charges and fees. This is one of the most popular promotional offers in the credit card industry because it allows consumers to save money and achieve certain financial goals at the same time. If you have a large purchase in your future or you currently have credit card debt that is stuck on a credit card with a high interest... read more »

What is a Balance Transfer Credit Card? How to Save Money on High-Interest Debt

By: Eric Bank, 8/27/2024

In my experience, the biggest hurdle to paying off credit card debt is often those pesky interest rates. What if you could lower or even eliminate interest rates on your highest APR cards for a while? Well, you can — and it’s actually pretty common. A balance transfer credit card allows you to transfer your debt from another card and offers a lower or 0% interest rate on that debt for a certain period — often between six and 18 months. Once that period ends, you need to be... read more »

Best Credit Cards with No Interest for 12+ Months (May 2025)

By: Eric Bank, 5/9/2025

Fierce competition among credit card companies motivates them to appeal to the masses in several ways. One of their most potent marketing ploys is to offer no-interest borrowing and balance transfers for new cardmembers. Our experts have identified the best credit cards with no interest for at least one year. This can be especially useful if you want to charge a big-ticket item or consolidate your credit card balances. Read on to learn which cards give you the best interest-free... read more »

6 Best Credit Card Consolidation Loans (May 2025)

By: Brittney Mayer, 5/9/2025

In a lot of ways, collecting credit card debt can be like putting on weight. The problem builds slowly over time, largely unnoticed, until, one day, you find that you've outgrown your belt (or your credit card limit). Unfortunately, both losing weight and paying down debt can be a challenge, especially when compounded by other complications, such as a personal injury — or high credit card interest. For some consumers, credit card consolidation loans can be the cure for high... read more »

3 Balance Transfer Credit Cards for Fair Credit (2023)

By: Ashley Fricker, 7/10/2023

Imagine you are renting a storage unit for $50 a month. One day you find another company that will rent you a similar storage unit for $30 a month. Since it's obviously a better deal, you move the contents from the pricier storage unit to the less expensive one — and save $20 each month. Now, replace "storage unit" with "credit card," and you have the essence of a credit card balance transfer. The idea is to move your balance from a card with a higher interest rate to one with a... read more »

9 Best Balance Transfer & Rewards Credit Cards (May 2025)

By: Ashley Fricker, 5/9/2025

According to the Federal Reserve, the average American household with credit card debt had a total revolving debt of $9,214. If each card with a balance charges the market average 24.21% interest rate, then the typical household will pay approximately $2,231 a year in interest on that debt. Thankfully, those with good to excellent credit can take advantage of balance transfers to avoid forking over thousands in interest fees. A balance transfer does exactly what it says:... read more »

What is a Credit Card Balance? Transfer to 0% (May 2025)

By: Ashley Fricker, 5/9/2025

The word “balance” generally represents stability, whether referring to an equal distribution of weight or your mental well-being. This, of course, doesn't have quite the same meaning in regards to your credit card. So, what is a credit card balance? When you get a new credit card, you’ll receive a monthly statement summarizing the previous month’s purchases, even if there were none. In bold letters, usually somewhere near the top of the statement, you’ll see the word... read more »

6 Facts: How to Transfer Money From One Credit Card to Another (May 2025)

By: Brittney Mayer, 5/9/2025

If you're working toward minimizing -- and eventually eliminating -- your debt, you've come to the right place. In the article below, we'll take a look at how to transfer money from one credit card to another, which can save significant amounts in interest rates over time. In the first quarter of 2017, Americans repaid approximately $31.5 billion in credit card debt, according to WalletHub. However, given the $1 trillion of credit card debt still outstanding, your average cardholder is... read more »

8 Best Low-Interest Credit Cards with 0% Intro (May 2025)

By: Brittney Mayer, 5/9/2025

Low interest credit cards are important when it comes to those big purchases that may require you to carry a balance for a while. This article explores some of the top low interest cards on the market today. According to a 2018 survey on credit card ownership from Statista, more than half of the consumers from every age group over 18 reported using credit cards. Of those abstaining from card use, a common reason cited is the potential for accumulating debt. They have a fair... read more »

How to Transfer a Credit Card Balance (+7 Best 0% Offers) – May 2025

By: Linsey Knerl, 5/9/2025

If you’ve used credit cards for a significant amount of time, you’ve likely been presented with bigger and better card offers than what your current card gives you. One of these perks may be a credit card balance transfer offer. If used wisely, a transfer offer can lower your overall payment amount and improve your credit score. Transferring a card balance is not as difficult as you may think. In fact, I’ve used them successfully over the years to lower my debt and monthly... read more »

How Do Balance Transfers Work? + 5 Top Offers (May 2025)

By: Eric Bank, 5/9/2025

Perhaps you're looking for a way to reduce the amount you're paying out each month toward debts and you find yourself wondering, "How do balance transfers work?" If you're indebted to multiple lenders, oppressed by high interest rates, or simply looking to make your debt payments simpler, it could be worth it to make a balance transfer. This puts all your financial eggs in one basket, and can also give you a temporary reprieve from high interest rates. You've got to time it right,... read more »

If I Cancel My Credit Card, Will The Interest Stop? (May 2025)

By: Ashley Fricker, 5/9/2025

Perhaps your credit card bills are piling up faster than you can pay down the balance, and you're wondering "If I cancel my credit card will the interest stop?" By closing your credit card to save on interest charges, you’ve got the right idea but the wrong method. There are some things you need to know, which we'll cover in this article: No, interest doesn't stop when you cancel a card with a remaining balance. You can do a balance transfer to a card that will offer 0%... read more »

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All articles tagged Balance Transfers (23)