In order to move debt from high interest credit cards to low APR balance transfer credit cards, you have to assess your current credit situation. You will be qualified for any of the low APR balance transfer credit cards if your credit history shows that you have consistent timely payments. You can save thousands of dollars annually in interest charges by transferring all outstanding balances to low APR balance transfer credit cards. Take advantage of the low APR and apply all the money you save on the interest to the principal.

The zero interest on balance transfers offered by many low APR balance transfer credit cards is for a period of six months to a year. After the expiry of this period, they will start to charge interest and it is important to know what interest they will charge you. Most credit card companies charge APR of 10.24% and it can increase if you default on any agreement with your credit card company. Many companies offer zero interest on balance transfer but charge a transaction fee but usually they charge a flat rate of $50 to $75.

Before you move to any low APR balance transfer credit cards, check the period of the low APR on balance, the rate after the period expires and make sure that the balance transfer fee is charged at a flat amount.