Balance-Transfer Credit Cards: Your Essential Guide to Paying Off Credit Card Debt Faster

By Motley Fool Staff Markets Fool.com

Balance-transfer credit cards with 0% introductory APR offers can be powerful tools to start paying off your credit card debt.

Continue Reading Below

In fact, cardholders taking advantage of 0% introductory APR offers can expect 12 to 21 months of reprieve from interest charges. On the high end, that's a savings of $825 on a $5,000 balance paid off over 21 months at an 18% APR. Most cardholders stand to save even more than, given that average household credit card debt for those carrying balances reached a sky-high level of $16,048 in 2016.

Image source: Getty Images.

We Fools believe in going beyond just dipping your toes in when getting out of debt. The stakes are high, especially when interest charges are piling up at double-digit rates.

Balance-transfer credit cards are an obvious first step for some. With that in mind, we've put together a handful of useful articles and videos discussing balance-transfer credit card and debt essentials. They cover topics like the best balance-transfer credit card offers, fees to avoid, and strategies to pay off debt faster. Spending a few minutes reviewing the following articles could help put you on the fast track to financial security.

Balance-transfer credit card essentials

Continue Reading Below

5 Simple Tips to Skyrocket Your Credit Score Over 800!
Increasing your credit score above 800 will put you in rare company. So rare that only 1 in 9 Americans can claim they're members of this elite club. But contrary to popular belief, racking up a high credit score is a lot easier than you may have imagined following 5 simple, disciplined strategies. You'll find a full rundown of each inside our FREE credit score guide. It's time to put your financial future first and secure a lifetime of savings by increasing your credit score. Simply click hereto claim a copy 5 Simple Tips to Skyrocket Your Credit Score over 800.

The Motley Fool has a disclosure policy.