If you’ve got a large balance on a credit card bill with a high interest rate, it might make sense to transfer your balance to a new credit card that has a lower or even zero introductory interest rate.
Once you’ve completely moved your outstanding charges from your old credit card to your new card, you’ll no longer make payments on your old card. Instead, you’ll pay off your credit charges under the terms of the new card. You could potentially save money on your interest charges and pay off your credit card debt sooner.
