almost* 2 years!
| | | | | A low-interest credit card can be a smart way to consolidate debt and pay off your principal balance faster. See top picks from our partners, including one that offers 0% intro APR for almost two years. | | | | | Based on NerdWallet’s estimate of the average credit card interest rate, NerdWallet's 2025 average household debt study, (credit card debt total), and the total interest paid on the balance over 18 months. Savings estimate assumes total debt balance is repaid within 0% intro APR period, after a 3% balance transfer fee is paid on the new card.
Compare the difference between paying down an $10,500 debt on a 23% APR card and a 0% intro interest balance transfer card in equal installments over 18 months (an example 0% intro interest period). The latter will typically charge you a one-time fee of 3 to 5% on the balance transferred (or a $5 minimum fee, whichever is greater). Then, you won’t be charged any interest for the duration of the 0% intro APR period. Using the balance transfer card could save you around $1,700, even after paying a 3% transfer fee of $315, assuming the debt is repaid in full within the 0% intro interest period. As a heads up, the amount you may qualify to transfer and save depends on a variety of factors including your credit worthiness. | | | | | | Discover the personalized insights you need to make smart money moves – at home or on the go. | | | | | You got this message because you signed up to receive NerdWallet emails. We love having you, but we won’t take it personally if you want to unsubscribe.
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Home Equity Line of Credit (HELOC)
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