Best Balance Transfer Credit Cards
Credit card users can benefit significantly from 0% APR offers. These cards help avoid interest on purchases and balance transfers for a set period. Chase Freedom Unlimited offers a 15-month 0% APR on purchases and balance transfers. It also provides cash back rewards, making it a top choice.
Citi Simplicity offers a lengthy 21-month 0% APR on balance transfers, ideal for those needing more time to pay off debt. Choosing the right card depends on individual financial needs and spending habits. Always read the terms carefully to maximize benefits and avoid hidden fees.
Top Picks For 2024
Are you searching for the best balance transfer credit cards of 2024? We’ve done the research for you! Below, we list our top picks for balance transfer credit cards in 2024. These cards offer excellent features and benefits to help you save on interest and manage your debt efficiently.
Credit card
Annual fee
Intro offer
Apply now
- Earn $200 Cash Back:
- Spend $1,500 within the first 180 days of opening your account.
- Get a $200 cash back reward as 20,000 ThankYou® Points, It can be redeemed for $200 cash back.
- Earn Cash Back on Purchases:
- Earn 2% cash back on every purchase:
- 1% when you buy.
- An additional 1% as you pay off those purchases.
- Make sure to pay at least the minimum due on time to qualify.
- Earn 2% cash back on every purchase:
- Limited Time Offer:
- Earn 5% total cash back on hotels, car rentals, and attractions booked through the Citi Travel℠ portal.
- This offer is accessable until December 31, 2024.
- Balance Transfer Offer:
- Benefit from a 0% introductory APR on balance transfers for 18 months.
- After the introductory period, the variable APR will be between 19.24% and 29.24%, based on your creditworthiness.
Important Notes:
- Balance transfers do not earn cash back.
- The introductory APR is not applicable to purchases.
- Interest will be charged on your purchases if you transfer a balance unless you pay off your all balance (including balance transfers) by the due date each month.
- An introductory balance transfer fee of 3% (minimum $5) applies to transfers completed within the first 4 months of account opening. After that, the fee increases to 5% (minimum $5).
Pros:
- No annual fee
- High rewards rate
- Introductory balance transfer fee
Cons:
- No introductory APR period on purchases
Credit card
Annual fee
Intro offer
Apply now
BankAmericard® credit card
$0
0% intro APR on Purchases for 18 billing cycles and 0% intro APR on Balance Transfers for 18 billing cycles for any balance transfers made in the first 60 days
0% Introductory APR: Enjoy a 0% introductory APR on purchases and balance transfers made within the first 60 days for 18 billing cycles. After this period, a variable APR ranging from 16.24% to 26.24% will apply.
Balance Transfer Fee: A 3% fee applies to balance transfers made during the first 60 days. After this, the fee increases to 4%.
No Annual Fee: There is no annual fee for this card.
No Penalty APR: Late payments won’t result in a higher APR. Other account terms and pricing may apply.
Free FICO® Score Access: View your FICO® Score at no cost through Online Banking or the Mobile Banking app.
Contactless Payments: Get the convenience of contactless payments combined with the security of a chip card.
Exclusive Online Offer: This offer is available only online. It may not be accessible if you navigate away from this page or visit a Bank of America branch. Apply now to receive this offer.
Pros:
- No annual fee
- 0% introductory APR period
Cons:
- Requires good to excellent credit
- No ongoing rewards
Credit card
Annual fee
Intro offer
Apply now
Wells Fargo Reflect® Card
$0
Enjoy 0% introductory APR for 21 months on purchases and qualifying balance transfers from the date of account opening.
- Apply Now: Click “Apply Now” to explore this offer and review product features, terms, and conditions.
- Introductory APR: Enjoy 0% APR on purchases and eligible balance transfers for 21 months from account opening. After this period, a variable APR of 18.24%, 24.74%, or 29.99% will apply. Balance transfers made within 120 days qualify for the introductory rate, with a 5% fee (minimum $5).
- Annual Fee: $0
- Cell Phone Protection: Get up to $600 in coverage for cell phone damage or theft, with a $25 deductible.
- Personalized Deals: Access exclusive offers through My Wells Fargo Deals. Earn cash back as an account credit on shopping, dining, and other experiences by using your eligible Wells Fargo credit card.
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No annual fee
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Intro APR period
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No rewards
Credit card
Annual fee
Intro offer
Apply now
Citi Simplicity® Card
$0
Get 0% Intro APR for 21 months on Balance Transfers and 12 months on Purchases.
- No Fees Ever: Enjoy no late fees, no penalty rates, and no annual fee.
- Introductory APR: Get 0% APR on balance transfers for 21 months from the date of the first transfer and 0% APR on purchases for 12 months from account opening. After the introductory periods, the variable APR will range from 19.24% to 29.99%, depending on your creditworthiness. Balance transfers must be completed within 4 months of opening the account.
- Balance Transfer Fee: An introductory fee of 3% (minimum $5) applies to balance transfers made within the first 4 months. After this period, the fee increases to 5% (minimum $5).
- Card Protection: Stay secure with Citi® Quick Lock.
Pros:
- No annual fee
- 0% introductory APR period
Cons:
- No rewards program
- No new cardholder bonus
- Requires good to excellent credit
Credit card
Annual fee
Intro offer
Apply now
U.S. Bank Visa® Platinum Card
$0
Receive 0% intro APR for 18 billing cycles on purchases and balance transfers.
- 0% Intro APR on purchases and balance transfers for the first 18 billing cycles. After that, a variable APR of 18.74% – 29.74% will apply.
- Up to $600 protection on your cell phone (subject to a $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S. Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
- Choose a payment due date that fits your schedule.
- No annual fee.
- Terms and conditions apply.
Pros
- No annual fee
- Extended Intro APR period
- Cell phone protection plan
Cons
- No rewards program
- Requires good to excellent credit
- No sign-up bonus
Credit card
Annual fee
Intro offer
Apply now
Chase Freedom Unlimited®
$0
Get 0% intro APR on purchases and balance transfers for 15 months.
Earn an extra 1.5% cash back on every purchase during your first year, up to $20,000 in spending—allowing you to earn up to $300 in cash back!
Cash Back Rewards Details:
- 6.5% cash back on travel booked through Chase Travel℠, where you can redeem for cash back, travel, gift cards, and more.
- Receive 4.5% cash back on drugstore purchases and dining, including takeout and eligible delivery services.
- Receive 3% cash back on other purchases, up to $20,000 in the first year.
After the First Year or Reaching $20,000 Spend:
- Get 5% cash back on travel bought through Chase Travel℠.
- 3% cash back on drugstore spending and dining, including takeout and eligible delivery services.
- Get Unlimited 1.5% cash back on all other purchases.
Flexible Cash Back Redemption:
Redeem your cash back with no minimum required. You can opt for a statement credit or direct deposit into most U.S. checking and savings accounts. As long as your account is open, your Cash Back rewards won’t expire!
0% Intro APR Offer:
Take advantage of 0% Intro APR for 15 months on purchases and balance transfers from the first day your account is opened. After this period, a variable APR of 20.49% – 29.24% applies.
No Annual Fee:
Enjoy all the benefits of your Freedom Unlimited® card with no annual fee.
Monitor Your Credit Health:
Track your credit score and receive alerts with Chase Credit Journey, offering free access to your latest score and more.
Member FDIC:
Chase is a Member FDIC, providing protection for your funds.
Pros:
- No annual fee
- Introductory APR period
- High rewards rate
- No minimum redemption threshold
Cons:
- Requires good to excellent credit
Credit card
Annual fee
Intro offer
Apply now
Wells Fargo Active Cash® Card
$0
Get 0% intro APR on Purchases for 15 months from account opening, and 0% intro APR on Balance Transfers for 15 months from account opening on qualifying balance transfers.
- Spend $500 and get $200 bonus on purchases within the first 3 months.
- Receive unlimited 2% cash back on all purchases.
- 0% intro APR for 15 months on purchases & qualifying balance transfers from account opening. After this period, a variable APR of 20.24%, 25.24%, or 29.99% applies. Balance transfers made within the first 120 days are eligible for the introductory rate with a fee of 3%, after which a balance transfer fee of up to 5% (minimum $5) applies.
- No annual fee.
- No need to track categories or remember spending limits; cash rewards do not expire as long as your account is open.
- Access top sports and entertainment events, book travel, make dining reservations, and more with your complimentary 24/7 Visa Signature® Concierge.
- Enjoy up to $600 in mobile phone protection against damaging or theft, subject to a $25 deductible.
Pros:
- High rewards rate
- No annual fee
- Introductory APR period
Cons:
- No bonus categories
Credit card
Annual fee
Intro offer
Apply now
Boost your rewards with Discover’s special offer! During your first year, Discover will automatically match all the cash back you earn—there’s no limit to how much you can earn or match. For example, if you earn $150 cash back, Discover will double it to $300!
Here’s what you get:
- 5% Cash Back: Earn 5% cash back on everyday purchases at various places each quarter, like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate.
- 1% Cash Back: Get unlimited 1% cash back on all other purchases automatically.
Easy Reward Redemption: Redeem your cash back for cash at any time.
Quick and Easy Application: Apply today and receive a decision in as little as 60 seconds.
Added Protection: Discover helps you safeguard your personal information by removing it from select people-search websites that might sell your data. This service is free when you activate it through the mobile app.
0% Introductory APR: Enjoy a 0% intro APR on purchases for the first 15 months. After that, a variable APR of 18.24% to 28.24% applies based on your creditworthiness.
No Annual Fee! Terms and conditions apply.
Pros:
- No annual fee
- Introductory APR period
- Bonus categories for extra rewards
- Cash back on all purchases
Cons:
- Reward structure can be complex
- Spending limits on bonus rewards
- Limited acceptance outside the U.S
How To Choose The Right Card
The concept of credit cards is straightforward. when you are using a credit card, you’re essentially borrowing funds to make a purchase. You must repay the borrowed amount later. If you choose to repay it over time instead of paying the full amount when your statement arrives, interest will be charged. This fundamental principle is the cornerstone of the entire credit card industry. Consider the following factors to make an informed decision.
Interest Rates
The interest rate is crucial. Look for cards with a 0% introductory APR on balance transfers. This period usually lasts 12-18 months. Check the ongoing APR after the intro period ends. A lower ongoing APR will be beneficial in the long run.
Balance Transfer Fees
Most cards charge a balance transfer fee. This fee is usually 3-5% of the transferred amount. Some cards offer a $0 fee for a limited time. Compare the fee against the interest savings. Sometimes, a card with a fee might still save you more money.
Credit Limit
Your credit limit affects how much debt you can transfer. Ensure the card offers a high enough limit to cover your existing debt. A higher credit limit can also help improve your credit utilization ratio.
Credit Score Requirements
Each credit card has credit score requirements. Ensure your credit score meets the card’s criteria. Applying for a card you don’t qualify for can hurt your credit score.
Customer Service And Support
Good customer service is essential. Read reviews about the card issuer’s customer service. Excellent support can make managing your card easier.
Benefits Of Balance Transfer Cards
Balance transfer credit cards offer numerous benefits. They help manage debt and save money. Understanding these benefits can improve your financial health.
Save On Interest
One major benefit of balance transfer credit cards is saving on interest. These cards often provide an introductory 0% APR period. This period can last up to 18 months. During this time, you can pay off your debt without accruing interest.
Debt Consolidation
Balance transfer cards are excellent for debt consolidation. Consolidating debt means combining multiple debts into one. This simplifies your payments and reduces stress.
Here is a list of benefits of debt consolidation:
- One monthly payment
- Lower interest rates
- Improved credit score
With one payment, it’s easier to manage finances. Lower interest rates mean more of your payment goes toward the principal. This helps you pay off debt faster.
Improving your credit score can open doors to better financial opportunities. Balance transfer cards can be a step toward financial freedom.
FULL LIST OF EDITORIAL PICKS: Balance Transfer Credit Cards
Wells Fargo Reflect® Card
Our recommendation for: Longest 0% intro period
The Wells Fargo Reflect® Card offers the longest 0% introductory APR period on purchases and qualifying balance transfers, providing ample time to pay off your debt without interest charges.
BankAmericard® credit card
Our recommendation for: Extended intro period + simple benefits
The BankAmericard® credit card features a lengthy 0% introductory APR period, along with straightforward benefits, making it a great choice for those seeking simplicity and value.
U.S. Bank Visa® Platinum Card
Our recommendation for: Extended intro period + low intro transfer fee
This card from U.S. Bank not only provides a lengthy 0% APR period but also comes with a low introductory balance transfer fee, perfect for those looking to consolidate debt affordably.
Chase Slate Edge℠
Our recommendation for: Extended intro period + interest-saving incentives
The Chase Slate Edge℠ card offers a generous 0% APR period along with incentives to help you save on interest, making it an excellent choice for budget-conscious consumers.
U.S. Bank Cash+® Visa Signature® Card
Our recommendation for: Maximum flexibility
The U.S. Bank Cash+® Visa Signature® Card allows you to customize your rewards categories, combined with a competitive 0% APR period, giving you control over how you earn and save.
Wells Fargo Active Cash® Card
Our recommendation for: Simple cash back
The Wells Fargo Active Cash® Card offers unlimited 2% cash back on purchases with no categories to track, along with a solid 0% introductory APR period, making it a straightforward option for cash back enthusiasts.
Chase Freedom Unlimited®
Our recommendation for: All-around cash back
Chase Freedom Unlimited® provides robust cash back rewards on all purchases, paired with a lengthy 0% introductory APR period, making it an all-around excellent choice for earning and saving.
Capital One SavorOne Cash Rewards Credit Card
Our recommendation for: Dining & entertainment
With rewards tailored for dining, entertainment, and grocery purchases, the Capital One SavorOne Cash Rewards Credit Card is perfect for those who enjoy both going out and staying in, all while benefiting from a 0% APR period.
Blue Cash Everyday® Card from American Express
Our recommendation for: Grocery, gas & online rewards
This card excels in everyday spending categories like groceries, gas, and online retail, combined with a generous 0% introductory APR period, making it ideal for household spending.
Bank of America® Unlimited Cash Rewards credit card
Our recommendation for: Simplicity + relationship rewards
This card provides unlimited 1.5% cash back on all purchases and potential for higher rewards if you have a banking relationship with Bank of America, along with a long 0% APR period.
Citi Custom Cash® Card
Our recommendation for: Flexible rewards
The Citi Custom Cash® Card adapts to your spending by offering 5% cash back on your top eligible spend category each billing cycle, plus a lengthy 0% APR period, making it a flexible rewards card.
Discover it® Cash Back
Our recommendation for: Rotating categories + matching bonus
The Discover it® Cash Back card offers 5% cash back on rotating categories each quarter, plus a dollar-for-dollar match of all cash back earned in the first year, alongside a solid 0% APR period.
What is the Balance Transfer Credit Card?
A balance transfer credit card allows you to move existing debt from one or more high-interest credit cards to a new card with a lower interest rate, often 0% for an introductory period. This can significantly reduce the amount of interest you pay, allowing you to pay off your debt faster.
How Much Can I Save with a Balance Transfer Credit Card?
The amount you can save depends on your existing interest rates, the balance you transfer, and the introductory period offered by the new card. For example, if you transfer a $5,000 balance from a card with a 20% APR to one with a 0% APR for 18 months, you could save over $1,500 in interest charges.
How to Do a Balance Transfer Using a Credit Card
- Choose the right card: Look for a card with a low or 0% introductory APR period and reasonable transfer fees.
- Apply for the card: Submit your application and wait for approval.
- Request the transfer: Once approved, contact the new card issuer to request the balance transfer.
Pay down the balance: Make regular payments to pay off your balance before the introductory period ends to avoid high-interest charges.
Considering a balance transfer to save on interest
Apply for a Balance Transfer Card: Look for a card that offers a 0% introductory APR on balance transfers. Keep in mind that this offer often comes with a time limit, typically within 60 days of opening the account.
Request the Balance Transfer: Once you’ve got your new card, inform the issuer that you want to transfer a balance. You can usually do this through your online account dashboard or the issuer’s mobile app. If not, you may need to call customer service.
Provide the Necessary Information: Be ready to share details like the account number of the debt you’re transferring and the amount you wish to move. The approval will depend on your credit limit; you might be able to transfer the full balance or just a portion of it.
Continue Paying Your Old Card: The transfer won’t happen immediately—it could take a few days or even a couple of weeks. Until you see the balance transfer reflected on your old card, make sure to at least pay the minimum amount due.
Monitor Your Accounts: Keep an eye on both accounts. Once the balance transfer is complete, you’ll see the debt cleared from your old card and added to your new one. Now you can focus on paying it off.
How to compare balance transfer credit cards
Check Your Current Issuer: First, see if your current debt is with a particular bank. Most banks don’t allow you to transfer balances between cards they issue—like moving a balance from one Chase card to another.
Compare 0% APR Periods: Look for cards with the longest 0% APR period for balance transfers. A longer period gives you more time to pay off your debt without accruing interest.
Evaluate Balance Transfer Fees: Most cards charge a fee of 3% to 5% for balance transfers. This means you’ll pay $30 to $50 for every $1,000 you transfer. Compare these fees to minimize your costs.
Avoid Annual Fees: A good balance transfer card shouldn’t have an annual fee. While some rewards cards with annual fees offer 0% introductory periods, they’re not ideal if you’re trying to get out of debt.
Frequently Asked Questions
Yes, most balance transfer cards allow you to transfer balances from multiple cards, up to the new card’s credit limit.
Any remaining balance will start accruing interest at the card’s regular APR, which can be significantly higher than the introductory rate.
Applying for a new card can temporarily lower your credit score, but paying down debt can improve your score over time.
Methodology
Our selection of the best balance transfer credit cards is based on the length of the introductory APR period, transfer fees, ongoing APR, and additional card benefits. We consider factors such as user reviews, card issuer reputation, and overall value to determine the best options for consumers.
I’m Kyle Bee, and I created Be Rich Finance to share the financial lessons I’ve learned over the years. After struggling to navigate personal finance myself, I realized many people need clear, straightforward advice. Through my website, I offer tips on investment strategies, credit card rewards, and wealth management, all aimed at helping others achieve financial freedom. Join me at Be Rich Finance, and let’s build wealth together.