12 Best — Credit Card “Balance Transfer” Offers (0% Interest up to 18 Mo.)

By: Ashley Dull • 5/24/2018

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The average American carries $4,717 of credit card debt with an interest rate around 15%. If you’re one of these Americans and only pay the minimum payment each month, it’ll take you 10 years to pay your debt off. What’s even scarier is you’ll have paid $22,869 by the time it’s said and done.

There is a silver lining, though. A balance transfer credit card allows you to transfer your existing balance from one card to another that won’t charge interest on your transferred balance – and sometimes on any new purchases – for the promotional period, some as long as 18 months. This can save you a LOT of money. In the above scenario, $18,155 to be exact, if you’re able to pay off your balance during the no-interest period and don’t rack up new debt.

You have to be mindful of transfer fees, however, along with a few other considerations. Use the links below to jump to our top picks in each balance transfer card category.

Top 0% Offers | Fair Credit Offers | No Fee

Compare the Top 0% Balance Transfer Offers

Below are the rest of our experts’ favorite balance transfer cards with the details of each listed out so you can easily compare the top offers. Always check the terms and details of a card to ensure you’re getting the best offer for you.

+See more balance transfer offers

Balance Transfer Offers for Fair Credit (651-700 Credit Score)

While most balance transfer offers are designed for those with good credit (700+), there are a handful of cards for those with lesser credit scores that still offer a reduced interest rate for a promotional period. Many fair credit balance transfer offers are for students with limited credit history, such as the ones listed below.

The promotional period tends to be shorter and interest is still charged on these cards, but you’ll be reducing your interest costs for at least six months, which can be of nice assistance to getting your debts paid off — just be sure the transfer fee doesn’t outweigh the savings.

Chase Slate is the Only Balance Transfer Offer with No Fee

The Chase Slate remains a top balance transfer offer among consumers for one important reason: it’s the only balance transfer card that currently has no balance transfer fee.

Most balance transfer fees are between 3% and 5% of the total balance transferred. For example, if you’re transferring $3,000 with a 3% fee, $90 will be added to your balance on the new account. The Chase Slate gives you 60 days from the time of opening your account to complete a balance transfer before a 5% fee takes effect, so be sure to do it within this time frame.

The Chase Slate also has no annual fee and no interest on purchases made during the promotional period, making it a great choice for those needing to ditch the interest payments.

The Chase Slate isn’t a card for earning rewards, as rewards cards aren’t really suited for those who carry a balance, anyway. This is because the interest you pay tends to outweigh the rewards you earn over time, and can actually become quite expensive — you’ll likely pay for that “free” hotel stay multiple times over if you carry a balance.

Beat Interest Payments with a Balance Transfer Card

A balance transfer card just might be the tool you need to help you get out of credit card debt, but this only works if you’re a responsible spender and do not accrue more debt. If you don’t pay your balance by the time the promotional period ends, your remaining amount due will incur the regular annual percentage rate (APR). Once you’re debt-free, it’s best to keep the account open, make charges as necessary, and pay the balance in full each month.

Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

About the Author

Ashley Dull

Ashley is the Finance Vertical Manager at Digital Brands, Inc., where she oversees content published on CardRates.com and BadCredit.org. Ashley works closely with experts and industry leaders in every sector of finance to develop authoritative guides, news, and advice articles with regards to audience interest. Connect with Ashley on Twitter and LinkedIn.