Here’s How You Can Stop Paying Interest on Your Credit Card for a Full Year

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You work hard, and you try to save money. If there’s a budgeting hack out there, you’ve tried it. And you’re certainly no stranger to the books, podcasts or social media clips of experts talking about sure-fire ways to get out of debt. But paying down your credit card debt continues to be hard, in no small part because of all the interest you’ve taken on. 

According to Lending Tree, the average interest rate for new credit cards is 24.43%* — it can feel like all you’re doing is paying down interest every month. 

But there is a way to bring your credit card interest down to 0% for a full year by using the Navy Federal Credit Union Platinum Card¹. This balance-transfer card offers a 0% introductory APR¹ for 12 months from account opening, which could help you get out of credit card debt faster, giving your personal finances a fresh start for the new year. After that, a variable APR between 10.99% and 18% applies.

What is a Balance-Transfer Card? 

A balance-transfer card is pretty much exactly what it sounds like. With a balance-transfer card like the Navy Federal Credit Union Platinum Card, you can consolidate your debt from another credit card — or even multiple credit cards — into one card with a 0% introductory APR¹ for 12 months from account opening. After that, a variable APR between 10.99% and 18% applies.Think of it as a head start for getting ahead of your debt. 

While it’s simple to transfer your existing debt to the balance-transfer card, the Navy Federal Credit Union Platinum Card comes with the support of a service team that’s available 24/7 to help you with all your banking needs. Best of all, you won’t have to worry about any transfer fees. 

Do I Qualify? 

If you’ve got average to excellent credit and you’re reliable with regular payments, you could be an excellent candidate for the Platinum card. Once the 12 month period of 0% introductory APR¹ is up, you should be prepared for a variable APR, between 10.99% and 18% — still significantly lower than the average APR associated with most credit cards. 

How Much Could I Save Every Year? 

In a nutshell, quite a lot. Let’s say you’re coming to your Navy Federal Credit Union Platinum Card with about $5,000 in debt with a 24.43% interest rate from another card. That means you’re paying about $1,221.50 in interest every year. With the Platinum card, you’d avoid paying that interest altogether during the introductory period.

Are There Any Perks? 

Lest you only think of your balance-transfer card as a sort of financial triage, know that the Navy Federal Credit Union Platinum Card comes with plenty of other perks. For starters, the card has no balance transfer fees, no annual fees, no foreign transaction fees and no cash advance fees¹. 

Whether you’re a major traveler or simply find yourself needing a rental car for a short period, you’ll appreciate the collision-damage waiver that kicks in when you rent a car for 15 days or fewer and pay for it with your Platinum Card². The travel and emergency assistance features, including medical referrals and lost luggage assistance³, can also feel like absolute lifesavers. 

Bottom Line

Interested in a balance-transfer card? It’s easy to get started here. You could save money on interest with a Navy Federal Credit Union Platinum Card. You’ll pay zero interest¹ on balances transferred for a full year. 

*Lending Tree

¹ As of 02/03/2025, rates range from 10.99% APR to 18.00% APR, are based on creditworthiness, and will vary with the market based on the US Prime Rate. ATM cash advance fees: None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction. Balance transfer offer: Application must be submitted by 3/31/2025. Offer valid for balances transferred from non-Navy Federal credit cards within 60 days of account opening. Maximum total transfer amount is limited to your available credit line. Balance transfers using convenience checks are excluded from this offer. If you transfer a balance with this offer, interest will be charged on purchases made with your credit card unless your purchases have a 0% APR or you pay the entire balance, including any transferred balances made under this offer, in full each month by the payment due date. Offer excludes Navy Federal Home Equity Line Platinum credit cards. Limit of one promotional offer at account opening. Navy Federal reserves the right to change or end this offer at any time.

² Certain terms, conditions, and exclusions apply. Please refer to the Visa® or Mastercard® Benefits Site or Guide for more information:

Visa® Benefits Site. Visa® Guide. Mastercard® Benefits Site. Mastercard® Guide.

³ Certain terms, restrictions and exclusions may apply. For more information, please refer to your Benefits Guide. If you need a copy of the guide, please call 1-888-842-6328.

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