Shifting your bank card stability from an account with a excessive rate of interest to 1 with an extended intro 0% APR interval may show you how to pay down debt with out racking up extra curiosity. Earlier than you decide a card to switch that debt, nonetheless, be sure you examine the stability switch charges.

Some bank card issuers will cost a payment — normally 3% to five% — to simply accept stability transfers into the brand new account. In the event you’re transferring $20,000 in debt, that is an additional $600 to $1,000 you may should cowl. 

Different bank cards, nonetheless, waive stability switch charges utterly, making them enticing to cardholders who actually don’t need extra of a value burden. Needless to say as soon as the intro APR interval expires in your new bank card, most can have no less than the common rate of interest of 16.13%, per Bankrate.

In the event you’re pondering of shifting your bank card debt to a brand new account that waives stability switch charges, learn on to find our prime accomplice provides beneath.

Learn extra: Greatest Secured Credit score Playing cards

FAQs

Our methodology

CNET critiques bank cards by exhaustively evaluating them throughout set standards developed for every main class, together with cash-back, welcome bonus, journey rewards and stability switch. We think about the standard spending conduct of a spread of shopper profiles — with the understanding that everybody’s monetary state of affairs is completely different — and the designated perform of a card. 

For cash-back bank cards, for instance, key elements embrace the annual payment, the “welcome bonus” and the cash-back fee (or charges, in the event that they differ by spending class). For rewards and miles playing cards, we calculate and weigh the web financial worth of a card’s respective perks. And with stability switch bank cards, we analyze specs such because the period of the introductory 0% APR interval and the stability switch payment, whereas acknowledging secondary elements comparable to the usual APR and the size of time it’s important to make a stability switch after you open the account.

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*All details about the Wings Visa Platinum Credit score Card, First Tech Platinum Mastercard, and the SunTrust Prime Rewards Credit score Card has been collected independently by CNET and has not been reviewed by the issuer.

The editorial content material on this web page relies solely on goal, impartial assessments by our writers and isn’t influenced by promoting or partnerships. It has not been offered or commissioned by any third social gathering. Nonetheless, we might obtain compensation once you click on on hyperlinks to services or products provided by our companions.

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