Best Credit Cards of 2024
Choosing the right balance transfer credit card can significantly impact your financial health. Many cards offer 0% APR on balance transfers for a set period, typically between 12 to 18 months. This allows you to pay down your debt without accruing additional interest.
Some cards also provide low or no balance transfer fees, making them even more cost-effective. It’s important to consider factors such as the length of the introductory period, ongoing APR, and any fees involved.Beerichfinance’s experts will help you to select the best card tailored to your needs and can help you achieve financial freedom.
Our Trusted Expertise
- We’ve meticulously reviewed over 400 credit cards to bring you the best options.
- In the last 12 months alone, we’ve dedicated over 27,000 hours to researching and evaluating financial products.
- Our team boasts over 80 years of combined experience in credit cards and personal finance.
- We use comprehensive, unbiased rubrics to ensure our recommendations are based on solid methodology.
- Our credit card content is curated by a dedicated team of writers and editors with extensive expertise. Their work has been featured in major outlets like The Associated Press, USA Today, The New York Times, MarketWatch, MSN, NBC’s “Today,” and ABC’s “Good Morning America.”
- Every writer and editor adheres to our strict guidelines to maintain the highest standards of editorial integrity.
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.
Best Offers of August 2024
Credit card
Annual fee
Intro offer
Apply now
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
- 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
Receive a $200 cash bonus after spending $500 on purchases within the first 3 months of opening your account.
Cash Back Benefits:
- 3% cash back on dining, fun, popular streaming services, and grocery store purchases (excluding superstores like Walmart® and Target®).
- 1% cash back on all other purchases.
- 10% cash back on purchases through Uber & Uber Eats, along with complimentary Uber One membership statement credits until 11/14/2024.
- 8% cash back on purchases made via Capital One Entertainment.
- 5% cash back on hotels and rental cars booking through Capital One Travel, featuring Capital One’s best prices on thousands of travel options. Terms apply.
Additional Features:
- No need for rotating categories or sign-ups to earn rewards.
- Cash back does not expire while the account is open, with no earning limits.
Financial Terms:
- 0% intro APR on purchases and balance transfers for 15 months; after this period, a variable APR of 19.99% – 29.99% applies; balance transfer fee is charged.
- No foreign transaction fees.
- No annual fee.
Advantages:
- No annual fee
- Introductory APR period
- Bonus reward categories
- No foreign transaction fees
Disadvantages:
- Requires good to excellent credit
Welcome Offer: Get $250 to use on Capital One Travel in your first year, plus earn 75,000 bonus miles after spending $4,000 in the first 3 months—equivalent to $1,000 in travel.
Unlimited Miles: Earn 2X miles on every purchase, every day.
Travel Bonus: Earn 5X miles on hotels and rental cars booked through Capital One Travel, offering the best prices on thousands of options.
No Expiration: Miles never expire as long as your account is open, with no limit on how many you can earn.
Travel Credits: Receive up to $100 credit for Global Entry or TSA PreCheck®.
Flexible Redemption: Use miles to cover any travel purchase or book trips through Capital One Travel.
Hotel Perks: Enjoy benefits like a $50 experience credit and room upgrades with the Lifestyle Collection.
Transfer Options: Transfer your miles to more than 15 travel loyalty programs for added flexibility.
Advantages:
- High rewards rate
- Flexible redemption options for rewards
Disadvantages:
- Annual fee required
- Requires good to excellent credit
Earn 60,000 Bonus Points:
- Spend $4,000 in the first 3 months to earn 60,000 bonus points, redeemable for $750 through Chase Travel℠.
Reward Highlights:
- 5x points on travel booked with Chase Travel℠
- 3x points on dining, streaming services, and online groceries
- 2x points on other travel purchases
- 1x points on all other purchases
- Annual $50 hotel credit with Chase Travel℠
Boosted Redemption Value:
- Redeem points for 25% more value on airfare, hotels, car rentals, and cruises via Chase Travel℠, making 60,000 points worth $750.
Travel Protections:
- Trip cancellation/interruption insurance, auto rental collision damage waiver, and lost luggage insurance included.
Additional Perks:
- Free DashPass access with $0 delivery fees and reduced service fees for a minimum of one year when activated by December 31, 2027.
Member FDIC
Advantages:
- Attractive bonus offer for new cardholders
- Bonus categories for earning extra points
- Primary coverage for rental cars
- Flexible options for redeeming rewards
- Partnerships for transferring points
Disadvantages:
- Annual fee required
- Requires good to excellent credit
- Complex rewards structure
Blue Cash Preferred® Card from American Express
$0 intro annual fee for the first year, then $95.
$250
Welcome Offer:
- Receive a $250 statement credit after spending $3,000 on qualifying purchases within the first 6 months.
Annual Fee:
- Enjoy $0 annual fee for the first year; thereafter, it will be $95 per year.
Flexible Payment Options:
- Take advantage of $0 introductory plan fees with Plan It® for splitting large purchases into monthly payments. This offer is valid for plans initiated within the first 12 months from account opening. Subsequent plans will incur a monthly fee of up to 1.33%, based on the duration of the plan and other factors.
Introductory APR:
- Benefit from 0% APR on both purchases and balance transfers for the first 12 months. Afterward, a variable APR ranging from 19.24% to 29.99% will apply.
Cash Back Categories:
- Earn 6% cash back at U.S. supermarkets on up to $6,000 in purchases per year (then 1%).
- Receive 6% cash back on select U.S. streaming services.
- Get 3% cash back at U.S. gas stations and on transit, including taxis, rideshares, parking, tolls, trains, and buses.
- Earn 1% cash back on all other purchases.
- Cash back is credited as Reward Dollars, redeemable as statement credits or at Amazon.com checkout.
Disney Bundle Credit:
- Enjoy a $7 monthly statement credit when you spend $9.99 or more on an auto-renewing Disney Bundle subscription using your Blue Cash Preferred Card. This offer is valid at DisneyPlus.com, Hulu.com, or Plus.espn.com in the U.S.
Terms Apply
Advantages:
- High rewards rate
- Generous bonus categories
- Introductory APR period
- Cash rewards
Disadvantages:
- Annual fee applies
- Requires good to excellent credit
- Spending limits on bonus rewards
- 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
Best Travel Cards of August 2024
Credit card
Annual fee
Intro offer
Apply now
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
Welcome Offer: Get $250 to use on Capital One Travel in your first year, plus earn 75,000 bonus miles after spending $4,000 in the first 3 months—equivalent to $1,000 in travel.
Unlimited Miles: Earn 2X miles on every purchase, every day.
Travel Bonus: Earn 5X miles on hotels and rental cars booked through Capital One Travel, offering the best prices on thousands of options.
No Expiration: Miles never expire as long as your account is open, with no limit on how many you can earn.
Travel Credits: Receive up to $100 credit for Global Entry or TSA PreCheck®.
Flexible Redemption: Use miles to cover any travel purchase or book trips through Capital One Travel.
Hotel Perks: Enjoy benefits like a $50 experience credit and room upgrades with the Lifestyle Collection.
Transfer Options: Transfer your miles to more than 15 travel loyalty programs for added flexibility.
Advantages:
- High rewards rate
- Flexible redemption options for rewards
Disadvantages:
- Annual fee required
- Requires good to excellent credit
Earn 60,000 Bonus Points:
- Spend $4,000 in the first 3 months to earn 60,000 bonus points, redeemable for $750 through Chase Travel℠.
Reward Highlights:
- 5x points on travel booked with Chase Travel℠
- 3x points on dining, streaming services, and online groceries
- 2x points on other travel purchases
- 1x points on all other purchases
- Annual $50 hotel credit with Chase Travel℠
Boosted Redemption Value:
- Redeem points for 25% more value on airfare, hotels, car rentals, and cruises via Chase Travel℠, making 60,000 points worth $750.
Travel Protections:
- Trip cancellation/interruption insurance, auto rental collision damage waiver, and lost luggage insurance included.
Additional Perks:
- Free DashPass access with $0 delivery fees and reduced service fees for a minimum of one year when activated by December 31, 2027.
Member FDIC
Advantages:
- Attractive bonus offer for new cardholders
- Bonus categories for earning extra points
- Primary coverage for rental cars
- Flexible options for redeeming rewards
- Partnerships for transferring points
Disadvantages:
- Annual fee required
- Requires good to excellent credit
- Complex rewards structure
Welcome Offer: Enjoy $250 to use on Capital One Travel in your first year as a cardholder. Earn 75,000 bonus miles after spending $4,000 on purchases within the first 3 months, equal to $1,000 in travel.
Unlimited Miles: Earn 2X miles on every purchase, every day.
Enhanced Rewards: Earn 5X miles on hotels and rental cars booked through Capital One Travel, ensuring the best prices on thousands of trip options.
Miles Never Expire: Your miles won’t expire as long as your account is open, and there’s no limit to the number of miles you can earn.
Travel Credits: Receive up to a $100 credit for Global Entry or TSA PreCheck®.
Flexible Redemption: Use your miles to get reimbursed for any travel purchase, or book a trip directly through Capital One Travel.
Exclusive Hotel Benefits: Enhance every hotel stay from the Lifestyle Collection with perks like a $50 experience credit, room upgrades, and more.
- Loyalty Program Transfers: Transfer your miles to over 15 travel loyalty programs for even more flexibility.
Pros:
- High rewards rate
- Flexible rewards redemption options
Cons:
- Annual fee
- Requires good to excellent credit
Exclusive Offer: Click “Apply Now” to access this special offer and discover all product features, terms, and conditions.
Bonus Points: Get 20,000 bonus points by spending $1,000 within the first 3 months, worth $200 in cash redemption.
Earning Points: Earn unlimited 3X points on dining, travel, gas, transit, popular streaming services, and phone plans. Get 1X points on all other purchases.
No Annual Fee: Enjoy all these benefits with no annual fee.
Introductory APR: Benefit from a 0% introductory APR on purchases for the first 12 months. After that, the variable APR will be 20.24%, 25.24%, or 29.99%.
Phone Protection: Receive up to $600 in cell phone protection against damage or theft, with a $25 deductible.
Flexible Redemption: Use your points for travel, gift cards, statement credits, or shop online and redeem them with PayPal.
Concierge Service: Access 24/7 Visa Signature® Concierge to book tickets, travel, dinner reservations, and more.
Pros:
- No annual fee
- Generous bonus categories
- Unlimited rewards
- Cell phone insurance
- Attractive new cardholder bonus
Cons:
- No free checked bags
- No complimentary anniversary night
- Lacks luxury perks
- Requires good to excellent credit
Best Balance Transfer Cards of August 2024
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
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
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.
-
No annual fee
-
Intro APR period
-
No rewards
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
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
Best Low Interest Cards of August 2024
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
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
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.
-
No annual fee
-
Intro APR period
-
No rewards
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
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
Best Cash Back Cards of August 2024
Credit card
Annual fee
Intro offer
Apply now
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
Receive a $200 cash bonus after spending $500 on purchases within the first 3 months of opening your account.
Cash Back Benefits:
- 3% cash back on dining, fun, popular streaming services, and grocery store purchases (excluding superstores like Walmart® and Target®).
- 1% cash back on all other purchases.
- 10% cash back on purchases through Uber & Uber Eats, along with complimentary Uber One membership statement credits until 11/14/2024.
- 8% cash back on purchases made via Capital One Entertainment.
- 5% cash back on hotels and rental cars booking through Capital One Travel, featuring Capital One’s best prices on thousands of travel options. Terms apply.
Additional Features:
- No need for rotating categories or sign-ups to earn rewards.
- Cash back does not expire while the account is open, with no earning limits.
Financial Terms:
- 0% intro APR on purchases and balance transfers for 15 months; after this period, a variable APR of 19.99% – 29.99% applies; balance transfer fee is charged.
- No foreign transaction fees.
- No annual fee.
Advantages:
- No annual fee
- Introductory APR period
- Bonus reward categories
- No foreign transaction fees
Disadvantages:
- Requires good to excellent credit
Blue Cash Preferred® Card from American Express
$0 intro annual fee for the first year, then $95.
$250
Welcome Offer:
- Receive a $250 statement credit after spending $3,000 on qualifying purchases within the first 6 months.
Annual Fee:
- Enjoy $0 annual fee for the first year; thereafter, it will be $95 per year.
Flexible Payment Options:
- Take advantage of $0 introductory plan fees with Plan It® for splitting large purchases into monthly payments. This offer is valid for plans initiated within the first 12 months from account opening. Subsequent plans will incur a monthly fee of up to 1.33%, based on the duration of the plan and other factors.
Introductory APR:
- Benefit from 0% APR on both purchases and balance transfers for the first 12 months. Afterward, a variable APR ranging from 19.24% to 29.99% will apply.
Cash Back Categories:
- Earn 6% cash back at U.S. supermarkets on up to $6,000 in purchases per year (then 1%).
- Receive 6% cash back on select U.S. streaming services.
- Get 3% cash back at U.S. gas stations and on transit, including taxis, rideshares, parking, tolls, trains, and buses.
- Earn 1% cash back on all other purchases.
- Cash back is credited as Reward Dollars, redeemable as statement credits or at Amazon.com checkout.
Disney Bundle Credit:
- Enjoy a $7 monthly statement credit when you spend $9.99 or more on an auto-renewing Disney Bundle subscription using your Blue Cash Preferred Card. This offer is valid at DisneyPlus.com, Hulu.com, or Plus.espn.com in the U.S.
Terms Apply
Advantages:
- High rewards rate
- Generous bonus categories
- Introductory APR period
- Cash rewards
Disadvantages:
- Annual fee applies
- Requires good to excellent credit
- Spending limits on bonus rewards
- 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
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.
Eligibility Criteria
Choosing the right balance transfer credit card can save you money. It’s important to know the eligibility criteria to qualify. Below are the key factors you need to meet.
Credit Score Requirements
Your credit score is crucial. Most cards require a score of at least 670. Higher scores increase your chances of approval. If your score is low, you should improve it first.
Income Verification
Income verification is another essential requirement. Lenders need to ensure you can repay the transferred balance.
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.
Drawbacks To Consider
Balance transfer credit cards can be a great tool to manage debt. Yet, they come with some drawbacks you should consider before making a decision. Understanding these drawbacks can help you make an informed choice.
Potential Fees
Balance transfer credit cards often come with charges. Balance transfer fees are usually between 3% to 5% of the transferred amount. For example, if you transfer $1,000, a 5% fee would cost you $50. Some cards may also have annual fees. Always check the card’s terms and conditions.
Impact On Credit Score
Transferring a balance can affect your credit score. Opening a new credit card can result in a hard inquiry, which may decrease your credit score temporarily. Additionally, having a high balance on one card can affect your credit utilization ratio. Keeping your utilization below 30% is ideal.
- Opening a new card can lower your score.
- High balances affect your credit utilization.
- Keep utilization below 30%.
Understanding these drawbacks can help you make the best decision. Always read the terms and conditions carefully
Tips For Maximizing Benefits
Using balance transfer credit cards wisely can save money. Here are some tips to make the most out of these cards. Learn how to keep payments on time and use promotional periods effectively.
Timely Payments
Always make timely payments. Missing a payment can lead to fees. These fees can add up quickly. Set up reminders on your phone. Or, use automatic payments to avoid missing deadlines.
Late payments can also impact on your credit score. A good credit score is important. It helps you get better loan rates in the future. Keep track of your due dates to protect your score.
Utilizing Promotional Periods
Here many balance transfer cards offer a promotional period. This period usually has 0% interest. Use this time to pay off your debt faster. Paying only the minimum might not be enough.
Check how long the promotional period lasts. Make a plan to pay off your balance during this time.
Frequently Asked Questions
The best credit card for balance transfers often depends on your needs. Popular choices include Chase Slate Edge, Citi Simplicity, and Discover it Balance Transfer. Each offers 0% APR for an introductory period and low fees. Always compare offers to find the best fit for you.
Balance transfers can impact your credit score. They may lower your credit utilization but can also lead to a hard inquiry.
No, credit card companies are not stopping balance transfers. Some may offer fewer promotions due to economic conditions.
Cards with a 0% balance transfer fee include Chase Slate Edge, Barclaycard Ring, and Amex EveryDay Credit Card. Always check specific terms.
Conclusion
Picking the best balance transfer credit card can save you money. Consider interest rates, fees, and rewards. Make sure to read the fine print before applying. The right card can help you manage your debt effectively in 2024. Start your journey towards financial freedom today.