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The Fastest Way To Pay Off $10,000 In Credit Card Debt
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Citi® is an advertising partner.
Paying off a large credit card balance can feel like a never-ending battle, but what if there was a way to pay it off faster without damaging your credit? It turns out there’s a simple and effective way to do it — it only takes two steps and it leverages programs created by credit card issuers to your advantage.
The Breakdown:
- Press Pause on Interest Payments: Using the right balance transfer card, you can avoid paying interest for over a year or longer.
- Pay Down Debt Faster: With zero interest to pay, you can put more of your money every month to pay down your principal balance instead of potentially wasting hundreds on interest.
Step 1: Stop Paying Interest on Your Balance Immediately
The first step is to stop hemorrhaging cash every month on interest payments. The way to do this is simple and it takes advantage of the banks’ existing marketing offers: find a card offering a long “promotional 0% APR period,” and transfer your balance to it. Many of these cards offer long periods of time (often 18+ months) where you can avoid paying interest on balances that have been transferred.
If you need more motivation, just think of it this way: on a $10,000 balance, roughly $175 of a $200 monthly payment would get vacuumed up by interest charges.* That means only $25 of your $200 payment actually goes toward reducing your existing balance, the rest vanishing into the bank’s pockets. That's just brutal.
Use our review below to find balance transfer cards offering some of the longest no interest periods on the market. Moving your balances to the card you choose will stop the bleeding, allowing you to move on to step two.
Step 2: Power Through Your Balance During The 0% Period
Once you’ve transferred your balance, you can capitalize on the lengthy 0% interest period. And you don’t have to do anything crazy — just keep making the monthly payments you would have already made, but now your balance will shrink faster. Instead of lining the bank’s pockets with huge chunks of your payment, you’ll be paying down more of your balance every month.
Going back to the $10,000 example above: if you transferred that balance onto a card offering 15 months of 0% intro APR with no transfer fee, and maintained the same $200 monthly payment, you can see how much faster you'll be reducing your balance in the chart below.
The red line shows how much headway you'd be making with a card offering 22.16% APR, while the green line shows your progress with a card offering 0% APR for 15 months.
The graph speaks for itself. Without the 0% intro APR card, your $200 monthly payment barely makes any headway — it's like swimming upstream. Move your balance onto one of the cards below and start making real progress toward getting rid of credit card debt.
Wells Fargo Reflect® Card
This card from Wells Fargo rewards you for what you should already be doing – consistently paying down your credit card bill month-to-month.
Intro APR: If you’ve got a substantial expense looming on the horizon, this card has you covered with 0% intro APR for 21 months from account opening , followed by an ongoing 17.24%, 23.74%, or 28.99% Variable APR after that. You also get0% intro APR for 21 months from account opening on qualifying balance transfers, and then 17.24%, 23.74%, or 28.99% Variable APR.
A Savings Machine: This $0 annual fee card is an exceptional savings tool because it rewards you for what you should already be doing – promptly paying down your credit card debt – and with such generous windows on interest-free time to make that happen, you could end up saving hundreds of dollars in interest fees alone.
Most Appropriate For: Anyone looking to get out of credit card debt by making consistent on-time payments each and every month.
The Verdict: We're really excited about this card from Wells Fargo because it’s laser-focused on saving you money when it comes to interest payments.
Credit Required: Good / Excellent
Chase Freedom Unlimited®
This balance transfer card comes with a generous ongoing cash back rewards rate. Use that cash back to help pay down your debt faster.
Intro APR: New cardholders get 0% Intro APR on Balance Transfers for 15 months on balance transfers, followed by an ongoing 18.99% - 28.49% Variable APR. Plus, you get flexibility with 0% Intro APR on Purchases for 15 months, with 18.99% - 28.49% Variable APR after that.
The Rewards: The standout features that set this apart from other low-interest offers are the rich cash rewards, and enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases. Just think how much faster you can pay down your balance with those cash back rewards. The balance transfer fee is either $5 or 5% of the amount of each transfer, whichever is greater.
The Verdict: This is an enticing balance transfer offer, with a long 0% intro APR period. The cash back gives you an extra boost and can help you reach your goal faster.
Most Appropriate For: Anyone who wants cash back rewards and a lengthy 0% intro APR period.
Credit Required: Good / Excellent
Bank of America® Customized Cash Rewards credit card
This card is unique because of its incredibly robust cash back program – no other card on this list gives you the flexibility to choose the perfect rewards category for you each and every month.
Intro APR: New cardholders get 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days on balance transfers, and then 18.24% - 28.24% Variable APR on balance transfers after that intro period is up. Balance transfers may not be used to pay any account provided by Bank of America.
The Rewards: Where this card really shines is in its rewards program: earn 3% cash back in the category of your choice. 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases. 1% cash back on all other purchases. and, if you’re a new cardholder, $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. And since this card has no annual fee, you can maximize your rewards without having to worry about extra costs.
The Verdict: While this card doesn’t have the longest period of 0% intro APR for balance transfers on this list, its compelling cash back rewards package is hard to ignore.
Most Appropriate For: Those looking to transfer a smaller balance or pay off their balance more quickly, and those looking for a solid everyday cash back card.
Credit Required: Good / Excellent
Citi Double Cash® Card
This card has a super-long intro APR on balance transfers, and a $0 annual fee. That’s not even the best part though.
Rewards Rate: The generous cash back rate makes this card one of the best credit cards for balance transfers and cash back rewards. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. That means if you spend $500 each month on common purchases you can earn $5 on purchase and another $5 when you pay it off. That’s $120 in annual rewards!
Intro APR Offer: You can save over $800 in interest charges if you transfer $5,000 in interest accruing charges at a 20% APR. New cardholders get 0% intro apr for 18 months on balance transfers, and then 18.24% - 28.24% (Variable).
The Verdict: This is an industry leader for cash back rewards. When you add in the intro APR of 0% intro APR for 18 months on Balance Transfers followed by 18.24% - 28.24% (Variable), you’re looking at a very powerful card that you can use to save money on high-interest debt, then use as a cash rewards card afterward. All of this makes this card one of our most popular offers.
Most Appropriate For: If you’d like to earn cash back on everything you buy while paying down a balance.
Credit Required: Fair / Good / Excellent
Citi Simplicity® Card
Take advantage of 0% intro APR for 21 months on Balance Transfers with $0 annual fee with this outstanding offer from Citi.
The Big Picture: Reshape your financial picture with this industry-leading low-interest card from Citi. For people who want to kick high-interest credit card debt to the curb, this is one of the best get-out-of-debt cards available. It’s one of the only cards with no late fees, no penalty rate, and a $0 annual fee. If you’re one to forget about a payment or two, this card is perfect for you.
Intro APR Offer: Transfer your high-interest debt to this card with an intro APR of 0% intro APR for 21 months on Balance Transfers. After that, an APR of 18.24% - 28.99% (Variable) applies. Cardholders also get a generous intro APR of 0% intro APR for 12 months on Purchases, then 18.24% - 28.99% (Variable) APR after that.
The Verdict: Citi Simplicity® Card is one of the best balance transfer offers available. If you want a long period of time to pay down your debt, you’ve found it in this amazing offer.
Most Appropriate For: This card is our highest-rated choice for anyone carrying a large balance. The extra interest-free time will allow you to make significantly more headway in paying down debt, even factoring in the balance transfer fee. If you want to pay down credit card debt interest-free over a long period of time, this card is a near-perfect match.
Credit Required: Good / Excellent
*Interest calculation: Credit Card Balance*((Average Card Rate/365)*30 days) – Balance Transfer Fee (Average Household Credit Card Balance Balance transfer fee is minimum of 3% or $10). Monthly interest calculated on $10k balance at 21% as: (.21/365)*30
Methodology
Each month, the LendingTree team reviews over 100 credit card offers examining the features most valuable to consumers including rewards, welcome offer, the interest rate, fees and other features to identify the best offers shown here.
Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
Top Card Categories
Citi Simplicity® Card
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Intro Purchase APR: 0% intro APR for 12 months on Purchases
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Intro BT APR: 0% intro APR for 21 months on Balance Transfers
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Regular Purchase & BT APR: 18.24% - 28.99% (Variable)
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