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American Focus > Blog > Economy > Don’t pay any interest until 2026
Economy

Don’t pay any interest until 2026

Last updated: June 3, 2025 11:29 am
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Don’t pay any interest until 2026
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Balance transfer credit cards are a popular tool for those looking to tackle high-interest debt. By transferring existing balances to a card with a 0% introductory APR, you can stop accruing interest and focus on paying down the principal balance. However, it’s crucial to have a solid plan in place to maximize the benefits of a balance transfer.

First and foremost, finding a balance transfer card with a long 0% introductory APR period is key. Look for cards that offer at least 15 to 21 months of no-interest payments to give yourself ample time to pay off your debt without worrying about interest charges. Consider the balance transfer fee as well, typically around 3% to 5% of the transfer amount, which should be factored into your total cost.

Once you’ve opened your new card, prioritize transferring balances from your highest-interest credit cards first to maximize savings. Be sure to check the balance transfer limit to avoid exceeding the amount you can transfer. Focus on paying more than the minimum payment each month to make a significant dent in your balance before the introductory period ends.

Avoid using your new card for new purchases while paying down the balance to keep your spending in check. Lastly, plan ahead for when the 0% APR period expires to ensure you have a strategy in place to continue paying down your debt effectively.

While a balance transfer can temporarily lower your credit score due to a hard inquiry and potential impact on credit utilization, using the card wisely can lead to an improvement over time. Having a good credit score is essential to qualify for the best balance transfer offers with long introductory periods and additional benefits.

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In conclusion, a balance transfer card can be a valuable tool for debt payoff if used strategically. By creating a plan, transferring balances effectively, and managing payments responsibly, you can make the most of a balance transfer card and work towards financial freedom.

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