Writer: Ashley Fricker
Editor: Lillian Guevara-Castro
Reviewer: Jon McDonald
Key Takeaways
Choosing the right balance transfer credit card often comes down to your goals. Our experts have identified options for those who want long 0% APR periods, rewards, or a mix of both:
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BankAmericard® credit card: Best option for a longer 0% intro APR window.
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Discover it® Chrome: Best for cash back after your 0% APR promotion ends. See rates & fees
Those with good to excellent credit can take advantage of balance transfers to avoid forking over thousands in interest fees. A balance transfer does exactly what it says: it transfers your balance from one credit card to another credit card.
When you transfer your balance to a balance transfer credit card with a 0% APR introductory offer, you can carry that balance interest-free for the length of the introductory terms.
But selecting the best one for you may come down to the fringe benefits more than the specific intro offer. Let’s take a look at all of the options so you can decide the best way to tackle your high-interest debt.
Best Overall Balance Transfer Cards
If you’re interested in dealing with credit card debt by transferring your balance to a new card, bells and whistles may not matter to you. If that’s the case, and you just want the best balance transfer card available, regardless of rewards, points or miles.
Our experts recommend these two cards above all others based on the length of their 0% APR offers:
- 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.
- 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
You’ll need good to excellent credit to qualify for either card, but they both have a lengthy 0% intro APR window to help you eliminate your high-interest debt.
Other Balance Transfer Cards with Cash Back
Your options for cash back programs will include cards that offer only a flat-rate cash back percentage, or programs that offer bonus cash back for purchases in specified categories.
While programs with bonus categories tend to have relatively low rewards rates for non-bonus purchases, these programs can be very valuable if your spending falls into the right categories.
- $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.
- 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.
Another thing to keep an eye out for are lucrative signup bonuses, which can earn you hundreds in bonus cash back. Signup bonuses are the quickest way to earn a boatload of rewards from the start, especially if you have a big purchase coming up that can help you easily reach the amount needed to receive the bonus.
Another Balance Transfer Card with 0% Intro APR
Since so many great balance transfer intro offers will also apply to new purchases (to varying extents), you may want to consider the purchasing power of your card.
Here is another solid balance transfer card that keeps the focus on eliminating your high-interest debt:
- 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.
Another thing to investigate before you apply is the default balance transfer interest rate, which is what you’ll be charged for any remaining balance after the introductory period has ended.
These default rates tend to be fairly high (especially when compared to 0%) and can catch you unawares if you’re not careful to repay your transferred balance in time.
On the plus side, most non-store credit cards offer real 0% interest financing instead of charging deferred interest, which means you only accrue interest on your remaining balance after your promotional period ends.
Remember, though, that balance transfers do not qualify for rewards or count toward your signup bonus spending threshold.
You Could Save a Fortune with the Right Balance Transfer Card
No matter how well-balanced the budget, most of us can definitely use an extra $1,830 a year to put toward paying off debt or to save for retirement. So, rather than spend that money on those high-interest credit cards, qualified consumers can enjoy a year or more interest-free with the right balance transfer credit card offer.
To make a balance transfer work in your favor, pay off the balance before the introductory period ends. That way, you can avoid getting hit with steep interest charges once the standard APR takes over.
Another option is to transfer the balance to a new balance transfer credit card with a 0% APR offer. Just remember that each balance transfer will likely incur a new balance transfer fee.
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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