Slash Debt with Zero APR Balance Transfer Magic

The Mechanics of Balance Transfers

When you initiate a balance transfer, your new credit card issuer pays off your existing credit card debt, consolidating it under the new card. This process often involves a balance transfer fee, usually around 3% to 5% of the transferred amount¹. However, the savings from not paying high interest can outweigh this initial cost. It's crucial to pay off the transferred balance before the 0% APR period ends, as any remaining balance will start accruing interest at the card's regular rate, which can be quite high.