A promotional balance transfer rate may create time to repay debt, but it does not erase the debt or automatically make a transfer cheaper.
Include the transfer fee
Check whether the offer charges a percentage of the transferred amount or a minimum fee. Add that fee to the total cost you compare with staying on the original card. Make sure the new credit limit can accommodate the amount you intend to move.
Know the deadline
Find the date by which a transfer must be completed to qualify, the length of the promotional rate and the APR after it expires. Purchases on the new card may follow different terms. Read how payments are allocated when balances have different rates.
Plan the payoff
Estimate the monthly amount needed to reduce the transfer before the promotion ends, allowing room for the fee and any remaining balance. Keep making required payments on the original account until the transfer has posted and been confirmed.
Compare the full cost and a realistic repayment plan, not just the introductory APR.
Source and review
Based on CFPB credit card key terms ↗. Last editorial review: September 2026. Confirm current product terms with the card issuer.