How do balance transfer cards help with credit card debt?

Balance transfer cards let you move existing high-interest credit card debt onto a new card that offers a low or 0% introductory APR, typically lasting 12 to 21 months. During this period, your payments go entirely toward reducing the principal rather than being eaten up by interest charges, which can save you significant money and help you pay down debt faster. The key is paying off the transferred balance before the promotional period ends, because after that the rate jumps to the card's regular APR, which can be quite high. Most cards also charge a balance transfer fee of 3 to 5 percent of the amount moved. They work best for people with good credit who have a realistic plan to eliminate the debt within the promotional window.