How do balance transfers work?

Balance transfers work by moving debt from a credit card or loan to a new credit card. Balance transfer cards usually allow you to pay no interest on your balance for a set period of time. That gives you the opportunity to take a break from high rates and more efficiently pay off your debt.

What is a credit card balance transfer?

A credit card balance transfer involves moving debt from a high-interest credit card to a new card with a lower interest rate, ideally one with an introductory 0% period. Essentially, you're using one credit card to pay off another, but because you aren't paying as much in interest, you have more money available to pay down your debt faster.

Should I move my high-interest credit card debt to a balance transfer card?

Moving your high-interest credit card debt to a balance transfer card with a 0% introductory rate can save you hundreds, or even thousands, of dollars in interest and help you get out of debt sooner. Find the right credit card for you. Whether you want to pay less interest or earn more rewards, the right card's out there.