How to Do a Balance Transfer in 4 Steps
By Thomas DonaldsonUpdated on July 6, 2022
Editorial Note: Our editorial team’s content is not provided, commissioned or otherwise endorsed by any financial institution or partner. The opinions, reviews or recommendations expressed in any article mention are solely those of our editorial team.
How does a "balance transfer" work? A balance transfer allows you to take your high-interest credit card balance from one card (or even multiple cards) and transfer it to a new credit card with a lower interest rate so you can save money on interest charges.
Many balance transfer cards offer a 0% intro APR for balance transfers until 2023, and some as long as 21 months!
4 Simple Steps to the Balance Transfer Process
1. Pick a balance transfer card that fits your needs (Length of Intro APR Period, Rewards, etc.)
2. Apply for a balance transfer card (Click Apply Now)
3. Once Approved, contact the new credit card company to do the balance transfer
4. Pay off your debt & celebrate being debt free faster!