Credit card debt is at an all-time high. Outstanding balances now average $6,735 per person and $11,507 per household, according to WalletHub analysis of Federal Reserve data for the fourth quarter of 2025.
A popular way to pay off high-interest card debt is to transfer all or part of a balance to a new card with a 0% introductory APR.
While it won't make what you owe disappear, it'll give you more runway to chip away at the debt without interest. Some balance transfer credit cards offer zero interest for up to two years.
Can a debt relief program help you?
How to do a balance transfer
A balance transfer can be invaluable in getting you back on track, but don't rush into it without considering the options and consequences.
Calculate how much you want to transfer: So long as you stay under your assigned limit, you can transfer balances from more than one card. There's usually a fee per transaction, so add up all your existing card balances and decide how much you want to put on the new card.
Open a balance transfer card from a new issuer: Balance transfers can't be completed between cards from the same issuer, so find a new provider with the rate, term, fees and benefits that work for you.
Be careful with co-branded cards, since they may not have the issuer's name clearly on the card. You can verify who your issuer is by checking your cardholder agreement, calling customer service or searching online.
Transfer debt within the eligible time period: Balance transfer cards have two important terms: the length of your introductory 0% APR and how long after card opening that intro offer remains active. To ensure you don't miss out, transfer your balances when you apply for the new card (if that's an option) or right after account opening.
The U.S. Bank Shield™ Visa® Card has one of the longest intro-interest periods on the market. Most zero-interest offers are valid for 60 days but the Citi Double Cash® Card extends that to 120 days.
- Best-in-class intro-APR offers for purchases and balance transfers
- No annual fee
- Annual statement credit
- Cell phone protection
- Rewards limited to eligible travel purchases made through the U.S. Bank Rewards Center
- No welcome bonus
- Has a foreign transaction fee
- No intro balance transfer fee
The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- No annual fee
- Travelers face a foreign transaction fee
- Intro APR only applies to balance tranfer
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
What's the limit for a balance transfer?
There's no legal limit on how much you can transfer from one card to another, but to allow for interest, most issuers cap cardholders at about 90% to 95% of their credit limit. (Your individual limit depends on your credit score, income and other factors when you applied.)
Built into that cap is a transfer fee, typically 3% to 5% of the transferred balance. So, if you have a $10,000 credit limit on a new balance transfer card with a 3% transfer fee, the most you'll be able to transfer is about $9,200.
Purchases with the balance transfer card are also deducted: If you charge a new $3,000 laptop, that available transfer limit falls to $6,200.
So long as you stay within those limits, you can transfer balances from as many cards as you want.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
7.99%–35.99%
Up to $50,000
9.95% to 35.99%
$2,000 to $35,000
FAQs
What is a balance transfer?
A balance transfer involves taking existing credit card balances from one (or more) cards and moving them to a new card, ideally with an introductory period with no interest.
Is a credit card balance transfer a good idea?
If you have considerably high-interest credit card debt, but good credit, reliable cash flow, and financial discipline, a balance transfer to a 0% interest card is a smart way to consolidate payments and save on interest. It's best-suited for people
What's the downside to a balance transfer?
Balance transfers usually come with a fee of up to 5% for each transaction, and you have to resist the urge to charge purchases to the new card, which would increase your debt load.
If you don't pay off the transferred balances before the zero-interest period ends, you'll be back where you started with another high-interest card, pushing you further into debt.
Opening the new card will require a hard inquiry and, If you're approved, it will lower the average age of your account. Both of these can lower your credit score.
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