In this case, you’d save $315.20 in interest ($435 – $120) and pay off your debt two months faster by transferring the balance to the MBNA balance transfer credit card in the example above.

If you go with a low-interest credit card, you’ll save big on the debt you’re trying to pay off. Some cards go as low as 8.99%, like the MBNA True Line Gold Mastercard. For example ...