The content is accurate at the time of publication and is subject to change.

You can choose any credit card that offers balance transfers, which most cards do. If you plan to carry a balance, you should search for a card with a 0% introductory APR. Low introductory APRs often last for approximately one year, so if you pay off the balance within that timeframe you can avoid any interest charges. Cards often offer two choices for balance transfers, one with a lower interest rate and shorter introductory period and one with a slightly higher interest rate and longer introductory period. You should do the math based on your ability to pay and choose the option that will result in the lowest overall cost. Also, try to avoid cards that apply retroactive interest if the balance is not paid in full by the end of introductory period. Most balance transfers come with a transfer fee of around 3% of the amount transferred. While the interest savings likely outweigh this fee, it is another consideration.

tags : Balance Transfers Interest Rates Shopping

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.