Get out of debt faster while paying less.
Learn how you can save big by using a balance transfer card.
Use the right tools for the job
Credit card debt stings. The good news, however, is there’s a way to pay it down with less money in a shorter time. How? By moving your debt to a balance transfer card, which is a credit card that offers a lengthy 0% interest period. Unlike an everyday credit card (which charges interest on balances you carry from month to month), balance transfer cards give you time to pay down debt while preventing interest charges from stacking up.
Take advantage of introductory 0% APRs
When you’re paying down debt, interest rates matter – a lot. For example, compare the differences between paying down a $10,000 debt on an 18% APR card and a 0% balance transfer card. Using the balance transfer card could save you around $1,431, even after paying a transfer fee of $300. Want to save even more? Sign up for a card that doesn’t charge a transfer fee. As a heads up, the amount you may qualify to transfer and save depends on a variety of factors including your credit worthiness.
How to choose the right balance transfer card
A few of our favorite cards
Best for long 0% intro APR period: The Citi Simplicity® Card - No Late Fees Ever is great for people who need extra time to pay down debt interest-free. It has an extra-long 0% introductory APR period: 0% on Purchases for 12 months and 0% on Balance Transfers for 21 months. After the intro period, you can expect a 14.74% - 24.74% Variable APR. Combine that with the $0 annual fee, and you've got one of the few cards that allow you to pay down debt without spending a penny on interest.
The card charges a 5% balance transfer fee.
Citi Simplicity® Card - No Late Fees Ever
on Citibank's application
Updated Mar. 18, 2020.