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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.

A balance transfer card can save over $1,000
chartchart
Total savings:
Financial savings:
$1,431
Pay off debt faster by:
3months

How to choose the right balance transfer card

Know the fees
Know the fees
Make sure you factor in the balance transfer fee (typically 3% to 5%) when choosing a card.
Avoid paying interest
Avoid paying interest
To get the most savings, aim to pay off your debt before interest kicks in.
Use a different provider
Use a different provider
You can’t transfer balances between cards from the same issuer. So be sure to apply to a different issuer.

A few of our favorite cards

Best for long 0% intro APR period:
Citi Simplicity® Card - No Late Fees Ever

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

Pros
  • No late fee
  • No annual fee
  • Intro APR period on Purchases and Balance Transfers
Cons
  • No rewards
Annual Fee
$0
    Intro APR Promotions
    • 0% on Purchases for 12 months and 0% on Balance Transfers for 21 months
    APR
    • APR: 14.74% - 24.74% Variable APR
    • Cash Advance APR: 25.24%, Variable
    Card Details
    • No Late Fees, No Penalty Rate, No Annual Fee… Ever.
    • 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that, the variable APR will be 14.74% - 24.74%, based on your creditworthiness.
    • 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 14.74% - 24.74%, based on your creditworthiness.
    • If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balances, are paid in full
    • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater.
    • The standard variable APR for Citi Flex Plan is 14.74% - 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
    • Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges.
    Show Details
    Want to see more cards? See our entire lineup of balance transfer cards from 2018.

    Updated Mar. 18, 2020.