If you have existing debt, you already know how much of a burden it can be on your personal finances. Credit card debt, in particular, can pose particularly persistent challenges—after all, the average credit card interest rate is more than 21%, according to the Federal Reserve.

For some cardholders, balance transfer credit cards offer a faster, more accessible solution to paying off debt.

Balance transfers help you pay off debt with 0% APR (annual percentage rate) offers. In the months after you make the transfer, your full payment will be used to pay off your existing debt, rather than adding interest charges.

Here's what you need to know about the cost and time it takes to become debt-free with a balance transfer credit card.

The balance transfer credit card's 0% APR introductory period is key to this debt repayment tool. Once you open the card and transfer your existing balance, you'll make payments throughout the period without accruing interest.

Make a plan before making the transfer so you can use the time to reduce the balance you owe. Any amount remaining after the introductory period ends will start accruing interest. Use the 0% APR offer wisely so you don't take on more debt after the regular APR kicks in.

Since a balance transfer usually requires you to open a new credit card account, you should also be prepared to undergo a strict credit check to qualify for the card before you start. Many balance transfer cards require good to excellent credit. Check your credit score before submitting an application to see how likely you are to qualify or to see if you are pre-qualified.

learn more: How to check your credit score for free

To start the balance transfer process, you need to select the correct card.

Before you make your decision, keep in mind one common limitation on balance transfers: Many banks won't approve balance transfers with the credit cards or loans they issue. In other words, you may not be able to transfer balances from a Chase Sapphire Preferred® account to a Chase Freedom Unlimited® card, or from a Capital One Venture Rewards account to a Capital One Savor card.

Beyond that, there are two main details you should research to find the right balance transfer credit card to lower your debt:

The introductory 0% APR is probably the most important factor in choosing the best credit card for your balance transfers. Today, the terms of these offers range from 12 to 21 months.

Your overall debt balance and the amount you have available for payments each month will help determine your balance transfer card.

If your debt balance is relatively small, you can choose a shorter introductory APR offer in exchange for other ongoing benefits and card features you'll use long-term. For example, let's say you have a balance of $2,000 on your existing card. You're considering moving it to a card that offers 0% APR for 15 months and ongoing cash back rewards. The monthly payment required to pay off your balance in full during the introductory period is less than $150, which is within your budget. You choose this card to enjoy the introductory offer and The return after paying off the debt.

But if you have a high balance, it might be worth choosing a card with a longer introductory period and fewer ongoing benefits to give yourself as much time as possible to lower your debt.

Let's say you're considering the same 15-month 0% APR balance transfer card, but your debt is much higher, $8,000. To pay it off in full within the trial period, you'd now have to pay more than $500 a month - more than you can budget. Instead, you'll find a card that offers 0% APR on balance transfers for 21 months. You can choose this option and pay the balance in full at the end of the trial period for just $380.

Balance transfer fees can add to your total cost, depending on the card you choose. While it's possible to find free balance transfer cards, they're not that common these days. In most cases, you'll pay around 3% to 5% of your total balance.

In other words, if you have $5,000 in debt that you need to pay off using a balance transfer card (which charges a 3% fee), your total balance will increase by $150 when you make the transfer.

Fees are never a welcome extra, but keep this cost in mind when making a balance transfer. On most credit card balances, a 3% to 5% fee will only add a few hundred dollars to your total debt payment. That's probably a fair trade-off compared to the thousands of dollars you might pay in interest fees without a balance transfer.

learn more: The Best Balance Transfer Credit Cards of 2025

In addition to applying for the card, transferring your debt balance does require some upfront work. Follow these steps to start using balance transfers to reduce your debt.

To make the most of your trial period, you need to start balance transfers as early as possible. Some balance transfer cards allow you to do this when you apply. For example, the Chase Freedom Unlimited card app allows you to add up to three existing accounts to transfer balances upon approval. If you choose to start the process this way, you'll typically have a grace period (10 days in this case) after the card is mailed to you to change or cancel your transfer request.

If you did not request a transfer when you applied, you will need to contact your balance transfer card issuer after the account is opened. Call the number on the back of your card or find more information in your online account.

When you make a balance transfer request, calculate the expected fee based on the amount you want to transfer. This way you can avoid any surprises on your statement after the transfer is approved.

Check the terms of your card and calculate whether you can also transfer any existing debt. For example, let's say you have a $9,000 balance to transfer and you're approved for a $9,000 credit limit, but your card is subject to a 5% balance transfer fee. The fee itself will add $450 to your total balance, so you'll need to consider this when requesting a transfer.

Finally, be aware of any restrictions your card issuer may have when making a transfer request. If you decide to wait a few months after approval, the terms of your balance transfer may change, or the fees may go up. You can find any restrictions that may apply in your card agreement.

You may have to wait a few weeks for your balance transfer to be processed. Don’t forget to continue paying your bill using your original card during this time. Pay at least the minimum balance before any upcoming due dates to avoid late payments.

When you are approved for a balance transfer, your new card issuer will typically send payment for the transferred balance to your old card issuer. This amount will be added to your balance transfer card balance, and your remaining credit limit will be reduced.

Before making any changes to an existing account, be sure to double-check that the old balance has been paid and that the transfer has been completed.

Once approved, your introductory APR will begin counting down. At this stage, you should have developed a plan to use a balance transfer card to reduce your debt balance.

First, consider whether your goal is to pay off your balance in full before the end of the introductory period. If this isn't possible within your budget, you can settle on a fixed monthly payment you can afford, or simply commit to paying back as much as possible during the introductory period. No matter what, be sure to make your payments on time so you can maintain good credit and avoid any additional fees or even losing the 0% APR discount.

Remember, a balance transfer is just a tool; it's ultimately up to you to reduce your debt. Commit to budgeting your payments and minimizing debt without accruing interest so you can start moving toward being debt-free during this time.

For many people, a balance transfer credit card can provide a cost-effective way to pay off debt.

But this may not be a solution for everyone. If your debt balance is very high and exceeds your approved credit limit, be prepared that you may not be able to transfer the entire balance. In this case, you may want to consider consolidating your debt with a personal loan—these loans may have fixed interest rates that are much lower than your credit card APR.

learn more: How to consolidate credit card debt with a personal loan

Additionally, you may not want to open a new credit card account if overspending issues have left you in debt. Make sure you can commit to paying off the debt without adding new purchases to your balance. Otherwise, your balance may be higher at the end of the promotional period than at the beginning.

However, many cardholders with high-interest debt balances can benefit from a balance transfer credit card. Create a repayment plan, choose the right 0% APR term and fee structure, and make transfer requests promptly. You can then use your balance transfer card to make progress on your repayments, or even eliminate your balance entirely, without letting high interest rates hold you back.

Finding the right balance transfer credit card is probably one of the most important steps in the process. Here are some options to consider, depending on how long your introductory period requires and how you plan to use the card long-term:

The cards below offer some of the longest 0% APR balance transfer offers out there. They don't have many ongoing rewards or benefits other than a long-term introductory offer, and they don't charge an annual fee (although balance transfer fees will apply).

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In addition to introductory balance transfer offers, these cash back rewards credit cards can add great value to your everyday purchases. However, you may be sacrificing a few months of 0% APR to earn rewards and other long-term benefits.

The editor of this article is Alicia Hahn

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