Tired of paying interest on your credit card debt? Don’t get caught in a cycle of trying to pay down your interest. A little known secret of avoiding paying credit card interest is using a balance transfer credit card. Transferring a balance can keep you from paying too much in credit card interest. Here are a few things to remember when shopping for a balance transfer credit card:

0% Intro APR: Always look for a balance transfer credit card that offers a 0% intro APR. This basically means that you don’t have to pay ANY interest during the intro period. Many of these cards offer intro periods for up to a year and a half.

Here is a complete list of the best balance transfer credit cards.

Balance transfer fees: If you are transferring a massive balance, it might not make sense to use a balance transfer card. Most balance transfer cards charge a balance transfer fee, which is generally 3% of the balance. So if you are transferring a balance of $10,000, you will be paying $300 in balance transfer fees. If that is more than you would be paying in interest, you might want to reconsider.

Annual fees: If you are applying for a new balance transfer credit card, look for one that has no annual fee. If you are paying $80 in annual fees every year, it might not outweigh the benefits of getting a balance transfer card.


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