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What Is a 0% Interest Balance Transfer Credit Card?

7 min read

Last Updated: January 28, 2025

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Key Takeaways

A credit card balance transfer lets you move an existing credit card debt balance to a new credit card, which may allow you to take advantage of a lower interest rate.
A 0% intro APR balance transfer credit card could mean no interest on balance transfers during the introductory period.
Transferring a balance from a high-interest credit card to a 0% intro APR card could help you save money and pay off debt faster.

A balance transfer is when you move an unpaid balance from one lender to another. Typically, you transfer debt from an account with a high interest rate to one with a lower rate, so you can save on interest and get debt under control. One example involves transferring debt from one or more credit cards to a card with a lower interest rate offer.

Before applying for a balance transfer card, consider these guidelines and tips to determine whether a 0% intro APR balance transfer may help you save money.

How do you transfer a balance to a 0% intro APR credit card?

A 0% introductory APR credit card balance transfer offer means that the credit card issuer offering the balance transfer would pay all or a portion of the outstanding balance on your old account and then add this same balance to your new balance transfer card. Following a balance transfer, you make payments to your new credit card issuer. During the introductory period, your balance doesn’t accrue interest.

Many credit card companies charge a one-time balance transfer fee, which is typically a small percentage of the total transferred balance and is added to the new balance.

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The introductory annual percentage rate (APR) will only last for the stated time period. Any remaining balance after the promotional period ends will begin to accrue interest at the new credit card company’s standard APR.

Even after you transfer your balance, it’s still important to continue managing your old account. If you only transfer a portion of your outstanding balance, be sure to continue making at least the minimum payment each month, until you’ve wiped out your debt.

Note that you may want to check your old credit card balance through online or mobile banking after the balance transfer goes through to determine whether any amount remains.

You might want to keep your old account open after getting rid of its balance (by transferring it or repaying it). Closing the account—and losing the credit limit—means reducing your available credit, which may hurt your credit score. If you continue using the old card, try to pay your balance in full each month to avoid accruing more debt.

If your old account has a high annual fee or keeping it open tempts you to overspend, you may want to close it, even if that means losing the credit limit.

Eligibility for 0% interest balance transfer credit cards

Some balance transfer credit cards have stricter eligibility requirements than others. The following steps may improve your chances of qualifying for the best offer available.

Build good credit. Credit card companies typically require applicants for balance transfer cards to have good credit–exact credit requirements will depend on the card issuer. If your credit score isn’t as high as you’d like it to be, work on paying down your balances across credit card accounts, to minimize your credit utilization ratio. It’s also important to pay your credit card bills on time each month, even if you’re struggling to chip away at your balance. A consistent payment history can have a positive impact on your credit.
Keep your debt-to-income ratio low. Many credit card companies consider both your credit score and your debt-to-income ratio (the total amount you pay toward debts each month compared to your total monthly income) as they assess your application for a new credit card. If you’re considering a balance transfer credit card offer, try to avoid taking on new debts so you don’t increase your debt-to-income ratio before you apply.

0% APR doesn’t mean a $0 balance transfer fee

Keep in mind that an interest charge isn’t the same as a balance transfer fee, which is typically a percentage of the amount you transfer. Before transferring a balance, make sure that the balance transfer fee won’t cost more than you’d save on interest.

To determine whether the transfer fee is more or less than you’ll save in interest, it’s important to check the terms of your balance transfer offer and review your original card agreement. Your card issuer’s mobile or online banking tool may help you calculate how much interest you’ll pay if you don’t transfer your balance. Compare that to your balance transfer fee to determine how much you might save.

Did you know?

While you won’t earn rewards on the balance transfer itself, you may want to look for a cash back rewards credit card to make the most of future purchases. Then, once the balance transfer is paid off, use your new card to earn cash back for your everyday purchases.

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0% Interest on a credit card balance transfer is temporary

The duration of the introductory 0% APR balance transfer offer varies based on individual credit card company offers. After the introductory period, the remaining transferred balance is subject to the card’s standard interest rate. You should pay attention to the duration of the introductory offer because once it’s over there could be an increase in your interest rate.

It’s always important to familiarize yourself with the terms and conditions for any credit card. For example, in some cases, new purchases on cards with an active 0% intro APR balance transfer offer will incur interest at the card’s standard purchase APR, unless the 0% intro APR offer applies to new purchases as well.

How to maximize a balance transfer

Consider these three ways you can use a balance transfer that may help you determine the best balance transfer card for you.

It can be difficult to manage debt across several credit card accounts. With each account, you’ll have a separate monthly statement, due date, and payment. You may also have multiple online banking accounts or mobile apps to track. When you have multiple payments to make each month, there’s an increased likelihood of accidentally missing a payment. You can save time and energy by transferring your balances to a single account and making just one monthly payment.

Another great way to use a balance transfer is when you’re looking to save money on interest. Keep in mind that many balance transfers include a fee, but you may still save money on interest under the offer. It can be helpful to determine your potential savings by using an online balance transfer calculator.

One of the most effective ways to utilize a credit card with a 0% introductory APR for balance transfers is to use its limited timeframe as a deadline for paying off your credit card debt.

One strategy is to divide your entire outstanding balance, including interest charges, by the number of months of promotional financing that your card offers. You can then pay off a set amount each month so that you have no remaining balance by the end of the introductory financing period.

Discover offers a low intro APR on balance transfers

Discover has low intro APR balance transfer offers. Review each card’s features to find the best credit card for you. All Discover credit cards have no annual fee.

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