A balance transfer can slash your credit card interest rate, saving you thousands, even if you pay a fee. We've compared hundreds of offers to find the best for you. Just take a minute to read our 6 simple rules below to avoid any headaches.Learn More
Have a plan for the end of the promotional period.
One month before your rate expires, look for another offer because when the 0% period expires, the interest rate will rise significantly.
Don’t try to transfer debt between two cards of the same bank.
0% balance transfers are only valid when transferring from one bank to another.
Don’t spend on the card.
Unless the 0% offer extends to purchases, you will be charged interest on your spending. So do the balance transfer, and keep the card out of your wallet.
Get that transfer done within 60 days.
On most cards, offers are only valid if you complete the transfer within the first 60 days.
Never use a credit card at an ATM.
Cash advances on credit cards are incredibly expensive.
Always pay on time.
Set up a recurring payment. Late payments can result in loss of the offer and hurt your credit score.
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over 24 months
$46 of monthly savings