The Ultimate Guide to Credit Cards
Thursday, April 18, 2024

9 Best Balance Transfer & Rewards Credit Cards (April 2024)

Best Credit Cards For Balance Transfers And Rewards
Ashley Fricker

Written by: Ashley Fricker

Ashley Fricker
Ashley Fricker

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.

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Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Advertiser Disclosure

In the following article, we’ll take a look at eight of the best credit cards for balance transfers and rewards, including 0% intro APR, cash back cards, miles, and points.

As of June 2017, the average American household with credit card debt had a total revolving debt of $10,955. If each card with a balance charges the market average 16.7% interest rate, then the typical household will pay approximately $1,830 a year in interest on their credit card debt.

Thankfully, 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.

Given the variety of balance transfer card offers, selecting the best one for you may come down to the fringe benefits more than the specific intro offer. Many of the best balance transfer cards also offer rewards, and while you won’t earn rewards on your transferred balance, you can still earn cash back, points, or miles, for every qualifying purchase you make with your card.

0% Intro APR | Cash Back | Miles | Points

Best Balance Transfer Cards with 0% Intro APRs

If your primary concern is finding the best balance transfer offer, regardless of perks and rewards, you’re likely more concerned with the length of the card’s introductory period than its cash back rate. At the same time, 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.

Regardless of the specific nature of your card, you should look into any applicable fees before you apply. The vast majority of credit cards charge a flat-rate balance transfer fee, typically 3% to 5% of the total transferred balance. Many cards will also charge an annual fee, particularly if the card offers valuable rewards.

Our top-rated picks for balance transfer cards include a number of annual-fee-free options.

0% BALANCE TRANSFER RATING

★★★★★
4.8

OVERALL RATING

  • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.24% - 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
  • No Annual Fee - our low intro rates and all the benefits don’t come with a yearly charge.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% 12 months on Purchases
0% 21 months on Balance Transfers
18.24% - 28.99% (Variable)
$0
Excellent, Good

Additional Disclosure: Citi is a CardRates advertiser.

Discover it® Balance Transfer Review

at Discover Card'ssecure website

0% BALANCE TRANSFER RATING

★★★★★
4.8

OVERALL RATING

  • INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. 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 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
  • Redeem your rewards for cash at any time.
  • Your account may not always be eligible for balance transfers. Balance transfer eligibility is determined at Discover’s discretion.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • No annual fee.
  • Terms and conditions apply.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 6 months
0% Intro APR for 18 months
17.24% - 28.24% Variable APR
$0
Excellent/Good

0% BALANCE TRANSFER RATING

★★★★★
4.8

OVERALL RATING

  • 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, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%, 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).
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
0% Intro APR Period 18 months on Balance Transfers
19.24% - 29.24% (Variable)
$0
Excellent, Good, Fair

Additional Disclosure: Citi is a CardRates advertiser.

+See More Balance Transfer Cards

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.

Best 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.

CASH BACK RATING

★★★★★
4.8

OVERALL RATING

  • 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, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%, 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).
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
0% Intro APR Period 18 months on Balance Transfers
19.24% - 29.24% (Variable)
$0
Excellent, Good, Fair

Additional Disclosure: Citi is a CardRates advertiser.

Bank of America® Customized Cash Rewards credit card Review

at Bank Of America'ssecure website

CASH BACK RATING

★★★★★
4.9

OVERALL RATING

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
  • Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishing purchases.
  • If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
  • No annual fee and cash rewards don’t expire as long as your account remains open.
  • 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 18.24% - 28.24% 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 4%.
  • Contactless Cards - The security of a chip card, with the convenience of a tap.
  • This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 15 billing cycles for purchases
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 4%)
18.24% - 28.24% Variable APR on purchases and balance transfers
$0
Excellent/Good

Additional Disclosure: Bank of America is a CardRates advertiser.

6. Wells Fargo Cash Wise Visa® Card

This card is currently not available.

Cash Back Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

+See More Cash Back Cards

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.

Remember, though, that balance transfers do not qualify for rewards or count toward your signup bonus spending threshold.

Best Balance Transfer Cards with Airline Miles

Whether you like sandy beaches or snow-capped peaks, the only thing that can really top a destination vacation — is a free destination vacation. Enter the magic of travel miles.

As with other types of credit card rewards, cards offering miles allow you to earn a specific number of miles for each dollar spent on your card. Miles are often redeemable for airline fare, hotel stays, and a variety of other travel expenses.

When comparing cards that come with travel rewards and a balance transfer offer, you will likely need to choose between having a higher balance transfer APR or paying an annual fee. The following card is one of the few miles cards offering a current balance transfer promotion.

FRONTIER Airlines World Mastercard® Review

at the issuer'ssecure website

AIR MILES RATING

★★★★★

4.5

OVERALL RATING

4.0/5.0
  • Earn 50,000 bonus miles after spending $500 on purchases within 90 days of account opening
  • Earn 5X miles on eligible purchases at flyfrontier.com, 3X miles on restaurant purchases, and 1X miles on all other purchases
  • 0% intro APR for 15 months on balance transfers made within 45 days of account opening (balance transfer fee applies), then a variable APR applies
  • Earn a $100 flight voucher every account anniversary after spending $2,500 or more on purchases with your card during your card membership year
  • Cardmembers enjoy Zone 2 priority boarding
  • Annual fee $89
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
0% for 15 months
20.49%, 24.49% or 29.49%, based on creditworthiness
$89
Good

+See More Airline Miles Cards

Many cards offering travel rewards will also come with signup bonuses, which can be worth tens of thousands of points if you can meet the spending requirement. But remember not to make purchases you can’t pay off simply to earn a signup bonus, as you can quickly end up in the red once interest fees start piling up.

Best Balance Transfer Cards with Rewards Points

The best of both rewards worlds, credit cards that offer rewards points tend to have the most flexible redemption options. In many cases, points can be redeemed for cash back and gift cards, or for travel-related expenses — or for something else entirely. Most points programs provide a flat-rate point-per-dollar earnings system, though some will award bonus points for specified categories, such as gas station or restaurant purchases.

Although the per-point value of your rewards will vary by issuer, it may also vary by how you redeem your rewards. For instance, redeeming for cash or gift cards may provide more per-point value than redeeming for merchandise through the issuer’s redemption portal.

Choosing between our top picks will be a matter of deciding which points program you prefer, as both offer similar balance transfer terms and annual-fee-free card use.

8. Citi Rewards+® Card

This card is currently not available.

Points & Gifts Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

Additional Disclosure: The information related to Citi Rewards+® Card has been collected by CardRates.com and has not been reviewed or provided by the issuer or provider of this product or service.

9. Wells Fargo Visa Signature® Card

This card is currently not available.

Points & Gifts Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

+See More Rewards Points Cards

Perhaps the most important thing to remember about your rewards points is that you need to spend them to get the value out of them. While this may seem like an obvious part of the process, nearly one-third of cardholders don’t redeem their card rewards, which simply wind up back in the pockets of the issuers.

Save a Fortune with the Right Balance Transfer

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.

The key to successfully using balance transfer offers to avoid interest fees is to pay off your balance before the end of your introductory period. This will ensure you aren’t stuck paying inflated interest fees when the default interest rate kicks in.

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.

 

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.