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You can apply for a credit card with 0% interest on balance transfers and transfer your balance to this new card. However, the credit limit on a new credit card may not be enough to transfer all of your balance. But if you transfer a part of the $17,600 and avoid interest payments on it during introductory period, that will help you pay down your debt. It will also increase your debt-to-credit ratio since the new card will have its own credit line and that will free up some of the credit being used on at least one of your other cards.

To choose a balance transfer card, you should consider how much you will be charged for the transfer. Usually it is from 3% to 5% of the transaction. For example, the Discover it® Balance Transfer credit card comes with 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. To estimate how much you can save by transferring your balance to this card - use our balance transfer calculator.