Glossary

Balance Transfer

Moving an existing credit card balance to a new card with a 0% intro APR period.

A balance transfer is the process of moving an existing credit card balance to a new card offering a 0% introductory APR for 12-21 months. Used strategically, balance transfers can save thousands in interest while paying down debt, and lower per-card utilization.

Watch for: balance-transfer fees (typically 3-5% of transferred balance), the 0% intro APR end date, and minimum-payment requirements.

Also called

0% APR transfer

Related terms

Run the Cougar Method on your credit file.

CreditCougar drafts FCRA-compliant dispute letters tuned to your specific situation. $29.95/mo. $1 7-day trial.

Start the hunt — $1 trial