Listen to this articleInsider’s specialists choose the best companies and merchandise to help make good selections alongside together with your money (here’s how). In some circumstances, we get hold of a charge from our our partners, nonetheless, our opinions are our private. Terms apply to offers listed on this internet web page.
If you find yourself carrying credit card debt, you could stay away from rising curiosity in your debt by means of balance transfer credit cards with introductory 0% APR offers. Handle with care to stay away from incurring far more debt.
We’re focused proper right here on the rewards and perks that embrace each card. These cards won’t be worth it whenever you’re paying curiosity or late prices. When using a credit card, it’s important to pay your balance in full each month, make funds on time, and solely spend what you could afford to pay.
Compare the best credit cards for balance transfers
The best balance transfer credit card critiques
Wells Fargo Reflect® Card
The Wells Fargo Reflect℠ Card tops our report for its extra-long intro APR provide on every balance transfers and purchases. New cardholders get hold of a Wells Fargo Reflect℠ Card (then Wells Fargo Reflect℠ Card). Balance transfers ought to occur inside 120 days of account opening to qualify for the intro 0% APR charge.
Although the Wells Fargo Reflect℠ Card doesn’t earn rewards for spending, cardholders do get a handful of excellent benefits, along with cell phone security and roadside dispatch. The cell phone security is particularly compelling because of no-annual-fee cards often don’t provide it. When you utilize the Wells Fargo Reflect℠ Card to pay your month-to-month cell phone bill, you could get hold of safety for cell phone harm or theft, as a lot as $600 (with a $25 deductible) with a most of two claims per 12-month interval.
Pros: Ultra-long 0% introductory APR on balance transfers and purchases, no annual fee
Cons: No welcome bonus provide or rewards, and few benefits other than cell phone security
Review: Wells Fargo Reflect card review
Citi Simplicity® Card
Consumers with relatively a variety of high-interest credit card debt might save additional with a card that provides a 0% intro APR for as long as potential. The Citi Simplicity® Card extends one of many best offers on this class.
There’s no annual fee, however you get a Citi Simplicity® Card. After that, your charge goes as a lot as a Citi Simplicity® Card APR primarily based in your creditworthiness. Having a full 21 months with a 0% intro APR on balance transfers might help you to pay down a ton of debt, nevertheless take observe you could pay a 3% balance transfer fee (minimal of $5) for the privilege, and also you need to make all transfers inside the first 4 months.
Other perks this card offers embrace computerized account alerts, 24/7 buyer assist, and the ability to determine in your value due date.
Pros: No annual fee, sturdy 0% intro APR, no late prices
Cons: 3% intro balance transfer fee (minimal $5) on transfers completed inside 4 months, then 5% (minimal $5), few cardholder perks
Review: Citi Simplicity card review
Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Credit Card offers a Citi® Diamond Preferred® Card (then a 14.74% – 24.74% Variable APR APR applies).
Now is an effective time to make use of for the Citi® Diamond Preferred® Credit Card as a result of it often doesn’t provide a welcome bonus, nevertheless is at current offering Citi® Diamond Preferred® Card.
You can transfer a balance each over the phone or by means of your on-line Citi account inside the “Balance Transfers” half under the “Payments and Transfers” menu.
The largest distinction between the Citi Simplicity® Card and Citi® Diamond Preferred® Credit Card is that the Citi Simplicity® Card doesn’t value late prices or a penalty APR, whereas a late fee of as a lot as $41 and a penalty APR of as a lot as 29.99% applies whenever you pay late with the Citi® Diamond Preferred® Credit Card.
The Citi® Diamond Preferred® Credit Card moreover bills a abroad transaction fee on purchases made exterior of the US, which suggests it is not an excellent card for worldwide journey.
Pros: No annual fee, ultra-long 0% intro APR, purchase security
Cons: 5% balance transfer fee (minimal $5), doesn’t waive late prices
Review: Citi Diamond Preferred card review
Amex Blue Cash Everyday
Until not too way back, Amex didn’t provide any cards with a 0% intro APR on balance transfers. That’s now modified with the refresh of the no-annual-fee Blue Cash Everyday® Card from American Express, which improved the card’s bonus categories and added new monthly statement credits in direction of Home Chef and The Disney Bundle.
New cardholders get hold of a Blue Cash Everyday® Card from American Express, adopted by a Blue Cash Everyday® Card from American Express APR. To qualify for the introductory charge, balance transfers need to be completed inside the primary 60 days of account opening, and there’s a balance transfer fee of each $5 or 3% of the amount of each transfer, whichever is greater.
There’s moreover an improved welcome bonus offer of a Blue Cash Everyday® Card from American Express. That’s glorious timing for trip buying, since it’s essential to use PayPal at most on-line retailers.
You’ll moreover earn 3% cash once more at US supermarkets (as a lot as $6,000 per yr, then 1%), 3% cash once more on US gasoline stations (as a lot as $6,000 per yr, then 1%), 3% cash once more on US on-line retail purchases (as a lot as $6,000 per yr, then 1%), and 1% cash once more on all purchases (cash once more is acquired inside the kind of Reward Dollars).
Otherwise, the Blue Cash Everyday® Card from American Express will get you perks like automotive rental insurance coverage protection, purchase security, entry to the Global Assist Hotline, and the Amex Offers program.
Pros: Long 0% intro APR, no annual fee, good incomes prices in useful lessons
Cons: Balance transfer fee, abroad transaction prices
Review: Amex Blue Cash Everyday card review
Chase Freedom Unlimited®
The Chase Freedom Unlimited® is an effective determine whenever you’re in quest of an intro APR on balance transfers and purchases with the prospect to earn generous rewards in your day-to-day spending. New cardholders get hold of a Chase Freedom Unlimited® (then a Chase Freedom Unlimited® APR).
The intro balance transfer fee is 3% of the amount of each transfer (or $5, whichever is greater) on transfers made inside 60 days of account opening. After that, the fee jumps to 5% of the amount of each transfer (or $5, whichever is greater). This card has no annual fee, nevertheless you will pay abroad transaction prices on worldwide purchases.
While the Chase Freedom Unlimited® is marketed as a cash-back credit card, it actually (*12*), which you’ll redeem for cash once more, travel booked through the Chase Portal, current cards, merchandise, and further.
The card begins you out with a welcome bonus provide of Chase Freedom Unlimited®. You’ll moreover earn 5% once more (5x elements) on journey booked by means of Chase, 5% once more (5x elements) on Lyft rides by means of March 2025, 3% once more (3x elements) on consuming (along with takeout) and drugstores, and 1.5% once more (1x elements) on all completely different eligible purchases.
If you even have an annual-fee Chase card that earns Chase Ultimate Rewards points, such as a result of the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, you could combine your rewards and unlock additional redemption selections, along with (*12*).
Pros: Intro APR on balance transfers and purchases, sturdy incomes on all spending, earns useful Chase Ultimate Rewards elements
Cons: 3% intro balance transfer fee (then 5% or $5, whichever is greater, if transfers are made better than 60 days after account opening), abroad transaction prices
Review: Chase Freedom Unlimited card review
Chase Freedom Flex℠
New Chase Freedom Flex℠ cardholders get hold of a Chase Freedom Flex℠ (then a Chase Freedom Flex℠ APR). There’s an introductory balance transfer fee of three% of the amount of each transfer (or $5, whichever is greater) for transfers made inside 60 days of account opening (then a fee of 5% of the amount of each transfer or $5, whichever is greater).
There’s a welcome bonus provide of Chase Freedom Flex℠, plus cardholders can earn 5% (or 5x) in rotating categories each quarter (as quickly as activated) on as a lot as $1,500 spent in combined spending. You’ll moreover earn 5% cash once more (5x elements) on journey purchases made by means of Chase, 5% once more (5x elements) on Lyft rides by means of March 2025, 3% once more (3x elements) on consuming and drugstores, and 1% once more (1x elements) on all of the issues else.
It’s potential to combine your rewards from the Chase Freedom Flex℠ with eligible annual-fee Chase cards to get additional value out of your elements.
Pros: Earn as a lot as 5x elements on spending, no annual fee, earn useful Chase Ultimate Rewards elements
Cons: 3% intro balance transfer fee (then 5% or $5, whichever is greater, if transfers are made better than 60 days after account opening), abroad transaction prices
Review: Chase Freedom Flex card review
Citi® Double Cash Card
With the Citi® Double Cash Card, you get a Citi® Double Cash Card out of your date of first transfer when transfers are completed inside 4 months from the date of account opening, then there’s a charge of 13.99% – 23.99% (Variable). That’s a substantial amount of time to repay your debt.
But what makes the Citi® Double Cash Card an incredible determine is that it is among the best cash-back credit cards often, so it’s worth using even after you may have paid off your balance. You’ll efficiently earn 2% cash once more on all of the issues — 1 stage per dollar when you make a purchase order order, and 1 stage per dollar when you pay it off.
Normally, this card doesn’t embrace a welcome bonus, nevertheless correct now it’s offering Citi® Double Cash Card.
You won’t earn cash once more on balance transfers, nevertheless it’s a great card for earning money back in your regularly payments. And you could redeem your Citi ThankYou elements at a charge of 1 cent each for cash once more, journey, current cards, and further.
The intro balance transfer fee is 3% of each transfer completed inside the primary 4 months of account opening, with a minimal of $5. The ongoing balance transfer fee is 5% of each balance transfer, with a minimal value of $5.
Pros: Strong cash-back charge, no annual fee, prolonged intro APR interval
Cons: 5% balance transfer fee, 3% abroad transaction fee
Review: Citi Double Cash card review
Citi Custom Cash℠ Card
The Citi Custom Cash℠ Card is an effective different in case your spending habits tend to change from month to month. Cardholders earn 5% cash once more on as a lot as $500 in purchases inside the eligible class they spend primarily essentially the most in each billing cycle (then 1%), and 1% on all completely different purchases.
The qualifying lessons embrace regularly payments that should enchantment to most folks: restaurants, gas stations, grocery stores, select journey, select transit, select streaming services, drugstores, residence enchancment retailers, well being golf tools, and keep leisure.
New cardholders get hold of an introductory Citi Custom Cash℠ Card, then a Citi Custom Cash℠ Card APR. There’s a 5% balance transfer fee (minimal $5) and Citi Custom Cash℠ Card annual fee.
Although it’s marketed as a cash-back card, the Citi Custom Cash℠ Card actually earns rewards inside the kind of Citi ThankYou elements, which can be worth 1 cent apiece for cash once more, journey booked by means of Citi, current cards, merchandise, and further. And when you may have the Citi Premier® Card or Citi Prestige® Card (not on the market to new candidates), you could pool your rewards and transfer points to airline and hotel partners.
Pros: 0% intro APR on every balance transfers and purchases, no annual fee, sturdy rewards incomes
Cons: 5% balance transfer fee, abroad transaction prices
Review: Citi Custom Cash card review
Capital One SavorOne Cash Rewards
The Capital One SavorOne Cash Rewards Credit Card is an effective no-annual-fee chance whenever you spend relatively loads on meals and leisure. There’s a robust welcome provide: Capital One SavorOne Cash Rewards Credit Card. Cardholders earn 5% cash once more on inns and rental autos booked by means of Capital One Travel, 3% cash once more on leisure, streaming suppliers, consuming, and groceries, and 1% once more on all of the issues else.
New cardholders moreover qualify for a Capital One SavorOne Cash Rewards Credit Card of account opening (then a Capital One SavorOne Cash Rewards Credit Card APR).
This card not too way back added 5% cash once more on inns and automotive leases booked by means of Capital One Travel and eight% cash once more on Capital One Entertainment purchases. There’s moreover a promotion to earn 8% cash once more on Vivid Seats purchases by means of January 2023.
Pros: 0% intro APR on every balance transfers and purchases, no annual fee, sturdy rewards incomes, no abroad transaction prices
Cons: 3% balance transfer fee
Review: Capital One SavorOne card review
U.S. Bank Visa® Platinum Card
The U.S. Bank Visa Platinum Card is unique within the fact that it offers a 0% intro APR on additional than merely balance transfers. Once you enroll, you could get the introductory charge of U.S. Bank Visa® Platinum Card (adopted by a U.S. Bank Visa Platinum Card APR).
Getting a 0% intro APR on balance transfers and purchases makes this card a robust chance for anyone who has debt to transfer or an enormous purchase to make. If you wanted to buy new dwelling tools or use credit to cowl a minor kitchen rework, as an illustration, you’d accomplish that and repay your balance at 0% intro APR for 18 billing cycles.
Other benefits you could get with this card embrace cell phone protection, a free TransUnion credit score each month, and the ability to determine in your value due date. This card also comes with no annual fee, although there is a balance transfer fee of three% or $5.
Pros: 0% intro APR good for every balance transfers and purchases, no annual fee, cell phone security
Cons: 3% balance transfer fee
Review: US Bank Visa Platinum card review
Discover it® Balance Transfer
If you might be carrying high-interest balances on completely different credit cards, the Discover it® Balance Transfer is an effective card for balance transfers as a result of it offers Discover it® Balance Transfer (then a Discover it® Balance Transfer APR). Plus, it has an intro balance transfer fee of three%, rising as a lot as 5% for future transfers.
The Discover it® Balance Transfer earns 5% cash back in categories that rotate each quarter as a lot as the first $1,500 on purchases, then 1% (enrollment required).
The card doesn’t provide a regular welcome bonus, as an alternative Discover will also match all the rewards you earn after the first yr Discover It Cashback rotation. There’s no annual fee, and in addition you qualify freed from cost Social Security Number alerts, no abroad transaction prices, and no late prices in your first late value.
Pros: 0% intro APR good for every balance transfers and purchases, Cashback Match inside the first yr
Cons: Only earns 1% once more exterior of bonus lessons, 3% intro balance transfer fee and as a lot as 5% fee on future balance transfers (see phrases)
Review: Discover it Balance Transfer card review
Chase Slate Edge℠
The Chase Slate Edge℠ doesn’t earn rewards. It’s geared in direction of these which can be taking steps to boost their financial state of affairs, and offers choices which will help you to enhance your credit score and reduce the amount of curiosity you pay.
It offers a Chase Slate Edge℠, then a Chase Slate Edge℠ APR. Cardholders get hold of an computerized, one-time evaluation for the following credit prohibit within the occasion that they’ve paid on time and spent in any case $500 inside the first six months of opening the Chase Slate Edge℠.
Each account anniversary, you could be thought-about for a 2% APR low cost, as long as you may have paid your card on time and spent in any case $1,000 on purchases inside the earlier anniversary yr. The low cost is capped, though — it ought to solely be decreased until your APR reaches the Prime Rate plus 9.74% (Prime Rate is 6.25% as of 09/27/2022).
Pros: Intro APR is good for every balance transfers and purchases, computerized consideration for credit line enhance and APR low cost if spending requirements are met
Cons: No rewards or welcome bonus provide
Review: Chase Slate Edge card review
Methodology: How we chosen the best balance transfer credit cards
Insider chosen the best balance transfer cards by all the credit cards with balance transfer offers that are at current on the market to new candidates.
From there, we narrowed our report proper right down to balance transfer cards offering 0% introductory offers. We arrived at our closing picks by evaluating the phrases of each introductory APR provide and completely different card benefits. We prioritized cards that value lower balance transfer prices along with cards with the longest introductory 0% APR intervals on balance transfers. We moreover factored in several card benefits, resembling cash once more or journey rewards, annual prices, and waived late prices.
About balance transfer credit cards
The average credit card APR is spherical 16%, and it is likely to be even better relying in your credit score and the cardboard you might be using. The closing factor you want is to go looking out your self inside the quicksand of credit card curiosity.
Before you decide to use a 0% intro APR credit card, be sure you’ve got bought the means and a plan to pay off your balance in full sooner than the introductory APR interval ends — in every other case, you could end up having to pay curiosity in your remaining balance.
If you don’t assume you’ll be able to repay your debt in full by the purpose the introductory APR provide expires, a balance transfer credit card may not be worth it.
Balance transfer credit card steadily requested questions (FAQ)
What is a balance transfer card?
Balance transfer cards let these with current credit card debt transfer their glorious balance over from one different card to stay away from curiosity prices. You’re able to stay away from curiosity on a balance transfer card as a consequence of an intro 0% APR provide, which lasts wherever from 9 to 21 months.
After this introductory interval is over, your APR will reset to the same old variable charge. So you need to repay your credit card debt in full sooner than the intro APR interval ends with a view to stay away from curiosity bills.
What’s the catch? Some balance transfer cards value an upfront balance transfer fee of three% or 5% of your balance — or $300 to $500 for every $10,000 in high-interest debt you transfer. If you needn’t transfer a balance nevertheless you need to make a giant purchase that you will need time to repay, see our report of the best credit cards with intro APR offers.
How do balance transfer cards work?
Balance transfer cards can save you money by securing you a lower fee of curiosity in your current credit card debt. When you apply and are accepted for a balance transfer credit card, you progress over debt from one different card, and in addition you often have an introductory 0% APR interval sooner than you need to start paying curiosity on that debt.
Ideally, you could repay your debt sooner than the introductory interval ends — in every other case, you could ought to pay curiosity in your remaining balance.
Is a balance transfer card correct for me?
A balance transfer is likely to be best for you whenever you at current have credit card debt, and have a plan to pay it off. By using a balance transfer credit card, you could get a little bit of respiratory room with the introductory 0% APR interval. This means you could repay your debt with out together with curiosity.
How do I perform a balance transfer?
The first step in completing a balance transfer is making use of for — and getting accepted for — a balance transfer credit card. Once you’ve got bought a card with an introductory APR provide on balance transfers, to transfer your credit card balance, you could should request the transfer with the monetary establishment that factors your new balance transfer credit card.
You can often provoke this course of each on-line or by calling the amount on the once more of your card.
How prolonged does a balance transfer take?
A balance transfer often takes 5 to seven days, nevertheless the exact time can vary by issuer. Your monetary establishment might ask you to allow for as a lot as 21 days for a balance transfer to endure, nevertheless usually, the transfer should be completed sooner. Experian has a handy chart listing the average balance transfer timeframes by bank.
What credit score do I would really like for a balance transfer card?
If you’ve got bought bad credit — which is printed as a FICO score beneath 669 — you perhaps won’t be accepted for a balance transfer card. A monetary establishment may be a lot much less inclined to approve you for a balance transfer card in case your credit score and credit report level out that you haven’t been able to always repay cash owed beforehand.
