Balance Transfer Cards for Debt Consolidation
A balance transfer card moves existing credit card balances onto a new card, usually with a 0% introductory APR for 12-21 months. It works best for smaller balances you can repay before the promotional rate expires.
Key Terms to Compare
Balance Transfer Card
- Intro Rate
- 0% for 12-21 months
- Transfer Fee
- 3-5% of balance
- Best For
- Smaller balances, payable in the promo window
Consolidation Loan
- Intro Rate
- Fixed rate for full term
- Transfer Fee
- None (may have origination fee instead)
- Best For
- Larger balances needing a longer payoff
Watch the Deadline
Once the intro period ends, the remaining balance jumps to the card's standard APR — often 20%+. If you won't pay it off in time, a fixed-term consolidation loan is usually safer.