 TITLE: Survey: Most Consumers Pay Back Balance Transfers During Promotional Period CONTENT: Savings on Credit Card Interest Can Be Significant When Transferring a Balance\n------------------------------------------------------------------------------\nRegardless of whether a consumer gets a low A or 0% APR offer when applying for a balance transfer card, any reduction in interest will in most cases help the borrower save money over time. Consumers in the U.S. owed an average of $6,194 in credit card debt in the second quarter of 2019, according to Experian data. And the average interest rate for credit cards in the U.S. is just under 17%, according to the Federal Reserve—with some companies charging as high as 30% based on the consumers' creditworthiness.\nFor consumers on the higher end of the APR spectrum, and depending on how much they owe, transferring a balance to a low or 0% APR could mean saving thousands of dollars and shaving years off their repayment period.\nFor more information on balance transfer cards, see our articles on how to transfer a balance and find a card that's right for you. END