Writer: Eric Bank
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
Key Takeaways
Having a 21-month 0% APR balance transfer window can give you plenty of time to pay off your debt while saving money. Check out our top picks:
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BankAmericard® credit card: Best for a longer 0% intro APR on purchases and balance transfers.
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Citi® Diamond Preferred® Card: Best for a lengthy 0% APR on balance transfers and entertainment perks. See rates & fees
Twenty-one months is a long runway — about as long as an elephant’s pregnancy! That’s usually the maximum 0% APR balance transfer period you’ll find, which makes these cards fairly uncommon. And yes, I’m definitely talking about the cards, not the elephants.
We’ve explored the limited selection of credit cards with 21 interest-free billing cycles, as well as several more common 18-month options. These cards offer new members a smart way to tackle their credit card debt. Although some cards have limited features, many shine with additional perks.
Best 21-Month 0% APR Balance Transfer Credit Cards
These cards are like the Methuselahs of balance transfers. As a new cardmember, you get almost two years of interest-free balance transfers — a fantastic way to save money.
However, be mindful of the much shorter deadlines for completing your transfers to take full advantage of the interest break.
- 0% Intro APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 15.24% – 26.24% will apply. A 5% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America.
- No annual fee.
- No penalty APR. Paying late won’t automatically raise your interest rate (APR). Other account pricing and terms apply.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
The BankAmericard® credit card comes with no annual fee and welcomes applicants with good to excellent credit. It provides a competitive interest rate and an initial credit limit that typically ranges between $1,000 and $10,000.
You don’t need a Bank of America account for card approval. Only the balance transfers you complete in the first 60 days qualify for the 0% APR. Each transfer incurs a transaction fee ($10 minimum). The regular APR will apply when the promotional period ends.
- 0% Intro APR on balance transfers for 21 months and on purchases for 12 months from date of account opening. After that the variable APR will be 16.74% – 27.49%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- No Annual Fee – our low intro rates and all the benefits don’t come with a yearly charge.
- Buy now and pay later. Split your payment for eligible purchases of $75 or more into a fixed payment with Citi® Flex Pay.
- Get free access to your FICO® Score online.
Additional Disclosure: Citi is a CardRates advertiser.
Citi offers excellent balance-transfer credit cards, including the Citi® Diamond Preferred® Card. Only the balance transfers you complete in the first four months will get the 0% interest rate, after which the regular APR will kick in. Each balance transfer transaction has a fee of $5 or 5%, whichever is greater.
Apart from its balance transfer offer (and shorter 0% APR promotion for purchases), the card provides free FICO scores and special access to entertainment events. This card requires applicants to have good to excellent credit.
Balance Transfer Cards With Close to 21 Months of 0% APR
While 21 months is a long time, you may not need such an extended period to pay down your transferred credit card balances. If 18 months of 0% APR will do the trick, you open yourself up to a lot more options (and possibly more perks).
Here are some other credit card options that don’t quite hit the 21-month mark on 0% APR, but they come pretty close and offer other features that may make them more attractive:
- Get a 0% intro APR for 18 months on balance transfers and 0% intro APR on purchases for 6 months; balance transfer fee applies. Then 17.74% to 26.74% Standard Variable APR applies, based on credit worthiness
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. You’ll still earn unlimited 1% cash back on all other purchases
- Redeem cash back for any amount
- No annual fee
- Terms and conditions apply
The Discover it® Chrome has 0% Intro APR for 18 months, after which you’ll pay the regular APR. But that’s a year and a half of interest-free runway that could give you some breathing room.
But the best part of this card is that it offers cash back, which you can start earning immediately. And Discover will even match the cashback new cardholders earn in their first year, effectively doubling your Year 1 earnings.
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 6% cash back for the first year in the category of your choice. You’ll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category.
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- Turn daily purchases into everyday wins. Simply use your Customized Cash Rewards credit card for the things you already buy – from gifts to groceries – BofA Rewards™ members earn more cash back.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.74% – 27.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
Another rewards-centric option is the Bank of America® Customized Cash Rewards credit card. It still has a nice 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days (Balance Transfer Fee 3% for 60 days from account opening, then 5%).
If you can work with that time frame, you’ll reap the rewards, literally. This card allows you to earn up to 6% cash back on purchases in your chosen category, up to $2,500, in your first year. But even after Year 1, your custom category earns 3% cash back while grocery stores and wholesale clubs earn 2%, and everything else earns 1%.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% – 28.74%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Additional Disclosure: Citi is a CardRates advertiser.
The Citi Double Cash® Card doesn’t have a special APR promotion for purchases, but it offers 0% 18 months on Balance Transfers. That’s still a solid year and a half, and you’ll also be able to earn up to 2% cash back on every purchase.
The cash back earnings do work a little differently, though. Instead of earning 2% immediately, you earn 1% when you make a purchase and 1% when you pay for those purchases on your statement.
As an added bonus, you can earn up to 5% total cash back on hotels, rental cars, and attractions you book through the Citi Travel portal.
- 0% Intro APR on balance transfers and purchases for 18 months from date of account opening. After that, the variable APR will be 17.74% – 28.49%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- No Late Fees, No Penalty Rate, and No Annual Fee… Ever
- $0 liability on unauthorized charges.
Additional Disclosure: The information related to Citi Simplicity® Card has been collected by CardRates.com and has not been reviewed or provided by the issuer or provider of this product or service.
The Citi Simplicity® Card’s balance transfer promotion accompanies a 0% purchase APR. This card also targets applicants with good to excellent credit looking for a low-fee card.
As with similar Citi cards, this one limits the 0% APR to transfers you complete within the first four months. There is an introductory balance transfer transaction fee of $5 or 3%, whichever is greater, for each balance transfer you complete within four months of account opening. Balances will be subject to the regular APR after the promotional period expires.
What Are 0% Balance Transfer Credit Cards?
A 0% balance transfer credit card offers new customers interest-free financing on balance transfers for six to 21 months or longer. You can transfer existing credit card balances — up to the new card’s limit — and repay the balance interest-free during the promotional period.
These offers differ across card issuers. If you have outstanding balances on one or more credit cards, these cards can help you save a lot on interest charges.
With a 0% balance transfer credit card, your payments go directly toward reducing your transferred balances without the burden of interest costs.
How Do I Get a Balance Transfer Credit Card?
You can apply online for a balance transfer card by providing information about yourself and your finances. And if you want to get a preview of how a balance transfer credit card could help your financial situation, check out this handy calculator we created to give you some answers:
Once you’re approved, the issuer will share your APRs and credit limit. Next, you can accept the credit card agreement online, and the card usually arrives within three to 10 business days.
Do Balance Transfers Hurt Credit Scores?
Balance transfers can enhance your credit score if you use them to consolidate debt and reduce your overall credit utilization ratio (CUR). But if you start spending on your old cards, now with $0 balances, you might end up damaging your score instead.
To figure out your CUR, simply divide the total of your current credit card balances by your available credit limits. Both FICO and VantageScore take your CUR into account in their scoring models.
While FICO considers a 1% CUR as ideal, VantageScore is a bit more lenient, allowing up to 30% without negatively impacting your score.
Here’s an example of how a balance transfer card can impact credit utilization:
| Before the Balance Transfer | Card A | Card B | Card C | Overall |
|---|---|---|---|---|
| Balance | $900 | $1,500 | N/A | $2,400 |
| Credit Limit | $2,000 | $3,000 | N/A | $5,000 |
| Utilization Rate | 45% | 50% | N/A | 48% |
| After the Balance Transfer | Card A | Card B | Card C | Overall |
|---|---|---|---|---|
| Balance | $0 | $0 | $2,400 | $2,400 |
| Credit Limit | $2,000 | $3,000 | $2,500 | $7,500 |
| Utilization Rate | 0% | 0% | 96% | 32% |
The smartest way to enhance your credit with balance transfers is to avoid racking up new credit card debt while you’re focused on clearing the transferred balance.
How Much Can I Save With a 21-Month Balance Transfer?
How much you save with a 21-month balance transfer depends on the amount you move and the interest rate you were paying before. Even after a 3% to 5% transfer fee, your savings could still add up to hundreds or even thousands.
Let’s say Card A has an average monthly balance of $1,000 with a 20% APR. Over a year, you’d shell out about $200 in interest (that’s 20% of $1,000), and roughly $350 over 21 months (calculated as $200 x 21/12).
You would save $350 minus the $30 transfer fee, or $320, by transferring to Card B with its 0% APR promotion.
The following table shows estimated savings for various transferred amounts:
Potential Savings For a 0% Intro-APR Offer vs. a 20% APR Credit Card
| Amount Transferred to the New Card | Cost of 3% Balance Transfer Fee | Estimated Savings Over 21 Months |
|---|---|---|
| $1,000 | $30 | $320 |
| $2,500 | $75 | $800 |
| $5,000 | $150 | $1,600 |
| $7,500 | $225 | $2,400 |
| $10,000 | $300 | $3,200 |
The higher your balance, the more you can save.
What If I Don’t Repay the Entire Transferred Balance Within the 0% Intro APR Period?
Any unpaid transferred balances will incur the card’s standard APR once the introductory period expires. You should repay the entire transferred amount before the end of the promotion if you want to avoid extra charges.
Many balance transfer promotions extend 0% interest to transfers occurring only within the first four months from account opening. Any balance transfers you perform after the deadline will incur the card’s regular APR.
Most credit cards have the same standard APRs for purchases and balance transfers, but you can only be sure by checking the card’s fee schedule.
Remember that the issuer will likely terminate any 0% APR promotions if you miss a payment. That’s an important reason to ensure you make timely payments, especially during promotional periods.
Are 0% Balance Transfers a Good Idea?
With a balance transfer, you can reduce interest, simplify your monthly bills, and possibly give your credit score a lift by replacing multiple minimum payments with one. Still, keep an eye on the drawbacks, including transfer fees, the return of the regular APR, and the temptation to run up new balances on cards you’ve already paid down.
Pros
The advantages of balance transfers include the following:
- Saving interest costs: You may save hundreds or thousands of dollars by avoiding the typical APRs on outstanding credit card balances. These interest rates may reach as high as 36%.
- Reducing the number of monthly payments: You must remember to pay monthly on each credit card with an outstanding balance. Not only is that extra work, but it creates the possibility of forgetting to make a payment and triggering late fees. Consolidating your credit card debt resolves this problem.
- Boosting your credit score: Getting a new balance transfer card improves your credit utilization ratio by increasing your available credit. You further decrease your CUR by consolidating your balances on one card, mothballing your other cards, and paying down your single outstanding balance. Your credit score may improve as you reduce your CUR.
- Avoiding multiple minimum payments: You must pay at least the minimum amount on each card with an outstanding balance. Minimum payments mainly cover interest charges, meaning you make almost no progress repaying your balances. Consolidating your card balances in one place means a larger percentage of your monthly payment goes toward paying off your principal.
Your strongest move is to roll your credit card debt into the 0% APR window, pay down the transferred balance, and stay current on any new charges each month. Done right, this can lower your CUR and help strengthen your credit score over time.
Cons
Balance transfers have a few disadvantages:
- Reversion to regular APR: You must pay the card’s regular variable APR on any transferred balances you fail to repay by the end of the promotional period. If the card has a high regular APR, you may spend more than if you had not transferred the balance.
- Temptation: You may experience the temptation to go shopping with a credit card after you transfer its balance elsewhere. This may lead to overspending, increasing your overall debt, and possibly hurting your credit. A good rule of thumb is only to charge what you can afford to repay monthly.
- Fees: Typically, you must pay 3% to 5% of each transferred amount, reducing your net savings by a small amount.
While you can’t always avoid balance transfer fees, you can manage other potential pitfalls. By staying disciplined now, you can dodge significant debts in the future.
Do Credit Cards Ever Waive the Balance Transfer Fee?
Balance transfer fees used to be easier to avoid, but that’s rarely the case now. You may still spot an exception at some credit unions, though most cards charge a fee of about 3% to 5% of the amount you transfer.
Many cards impose a 3% fee during the promotional transfer period (or by a set deadline within that period) and 5% afterwards. The minimum fee is typically $5 or $10.
Enjoy Interest-Free Debt For 21 Months With a Balance Transfer Card
If this review has you thinking a 0% balance transfer card for 21 months sounds like a great fit, you do have a few solid options. If you’re open to an 18-month promotional period, your choices expand quite a bit.
Either way, make sure you pay off the transferred balance before the promotion ends, or you’ll be back to the card’s variable APR.
Editorial Note: Our site content is not provided or commissioned by any credit card issuer(s). Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. Every reasonable effort has been made to maintain accurate information; however, all credit card offer details, including information about rewards, signup bonuses, introductory offers, and other terms and conditions, is presented without warranty. Clicking on any offer on CardRates.com will direct you to the issuer's website, where you can review the current terms and conditions of the offer.
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