Cut Debt Faster Balance Transfer Intro APR Revealed

The Mechanics of Balance Transfers

When you opt for a balance transfer, you are essentially moving debt from one or more credit cards to another card with better terms. The primary allure of these offers is the introductory APR, which can last anywhere from 6 to 21 months. During this period, all payments go directly towards the principal, allowing you to reduce your debt faster. It's crucial, however, to be mindful of any balance transfer fees, which typically range from 3% to 5% of the transferred amount¹.