A 0% balance transfer card can eliminate interest charges for 12–21 months. But there’s a transfer fee of 3–5%. Enter your numbers to see whether the transfer makes financial sense for your specific balance.
3% transfer fee on $5,000 = $150. At 22% APR, you pay $91.67 in interest in the first month alone. The $150 transfer fee is paid back in under 2 months of avoided interest. For any balance where you’ll be paying for 3+ months, the transfer almost certainly wins.
Offers change frequently. The cards with the longest 0% periods and lowest transfer fees are on this dedicated comparison page.