 TITLE: 11 Ways to Pay Off High Interest Credit Cards CONTENT: 2\\. Consider a Credit Card Balance Transfer\n-------------------------------------------\nA smart way to use a balance transfer is to move credit card debt from a high interest card to one that offers a promotional 0% annual percentage rate (APR) period, typically 12 months or longer. That means you have the opportunity to pay down debt without incurring more interest, as long as you eliminate your debt by the time the promotional period ends.\nYou may be charged a balance transfer fee, which is a percentage of the transferred balance, and you'll generally need good or excellent credit to qualify. Note, too, that you won't be able to move debt between cards issued by the same financial institution.\nBut a balance transfer can lead to big savings. Say you have $5,000 in debt on a card at 18% APR. If you wanted to pay it off in 12 months, you'd pay $458.40 per month and $500.80 in interest. If you transferred the balance to a card with 0% APR—and opted for a card with no balance transfer fee—you'd pay $416.67 per month and $0 in interest. END