Balance Transfers: How to Use 0% APR to Crush Debt
Published by Speed Credit
Table of Contents
- What Is a Balance Transfer?
- How Balance Transfers Help You Pay Off Debt
- The Risks and Rules You Need to Know
- How to Pick the Right Balance Transfer Card
- How to Use a Balance Transfer the Right Way
- Next Up: Debt Settlement vs Bankruptcy—Which Is Better?
What Is a Balance Transfer?
A balance transfer lets you move existing credit card debt to a **new card with 0% APR for a limited time**—usually 12 to 21 months. During that time, you can pay down debt **without interest piling up.**
How Balance Transfers Help You Pay Off Debt
Let’s say you owe $5,000 at 22% interest. You’re paying $90–$100/month in interest alone. With a 0% balance transfer card, that interest goes away—giving you space to catch up and crush the principal faster.
You can save hundreds—sometimes thousands—if you use the window wisely.
The Risks and Rules You Need to Know
- There’s usually a fee—typically 3%–5% of the transferred balance
- You must pay off the debt before the promo ends—or you’ll face high interest again
- New purchases often aren’t 0% APR—they may be charged at regular rates
- Missing a payment voids your promo rate—and triggers penalty APR
So: no spending, no slacking, no skipping. This strategy only works if you’re focused.
How to Pick the Right Balance Transfer Card
Look for:
- 0% APR intro period of at least 15 months
- Low transfer fee (3% or less if possible)
- No annual fee
- Good customer reviews and flexible limits
Top 2025 picks include:
How to Use a Balance Transfer the Right Way
- Apply for the transfer card **before** making your next credit card payment
- Transfer the highest-interest balance first (or most manageable)
- Don’t use the new card for spending—only payoff
- Divide your balance by the promo months to stay on track
- Set up autopay so you never miss a payment
Pro Tip: If the promo period is 15 months and your transferred balance is $3,000, aim to pay $200/month minimum.
Next Up: Debt Settlement vs Bankruptcy—Which Is Better?
If you’re deeper in the debt game and can’t pay it all back, your next move matters. In the next article, we’ll compare **debt settlement vs bankruptcy**—and help you decide which one protects your future best. Read it here: Debt Settlement vs Bankruptcy
