A 0% card is a great deal — until a simple slip-up eats the savings. Here are the traps to steer clear of.
The 0% period has a hard end date. Anything left after it starts accruing interest at the regular rate. Know your deadline and plan payments to clear the balance before it.
New purchases may not qualify for 0% and can make payments harder to apply to the right balance. Treat the card as a payoff tool, not a spending account.
The minimum barely moves the balance. With no interest during the promo, this is the best window to pay aggressively — keep your payment high.
Freeing up your old card can feel like new spending room. If you fill it again, you've doubled your debt instead of clearing it.
Not paying off the balance before the 0% promo ends. Whatever is left starts accruing interest at the regular rate, which can wipe out much of your savings. Set a plan to clear it in time.
You can, but new purchases may not get the 0% rate and can complicate how payments are applied. It's usually best to avoid new spending on the card until the transferred balance is paid off.
A missed payment can cost you the 0% promotional rate entirely, plus a late fee. Always pay at least the minimum on time — setting up autopay is the simplest safeguard.
It can be. Closing a card can raise your credit utilization and shorten your credit history, both of which may lower your score. Many people keep the old card open with a zero balance.
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