Best Balance Transfer Credit Cards

A balance transfer credit card is an essential tool in a credit card consolidation. If you have two credit cards each charging a high interest rate then you can transfer the balances of both those cards to another credit card with low interest, saving tens and even hundreds of dollars on your monthly debt.

The problem with credit cards is that all of the best features begin to fade away after a year or two and you’re left with high interest rates, accumulated debts you can’t manage, and a rewards program that’s no good to you until you can drag your way out of debt.

But the best balance transfer credit cards can help to dig you out of this hole, because when you don’t have all of that money going towards interest payments then you can use it to pay off your debt, potentially clearing it completely by the time the introductory balance transfer periods end.

The Best Balance Transfer Credit Cards

Balance Transfer Credit Cards

There is no balance transfer credit card that will offer you a permanent 0% APR rate, they all have introductory 0% periods that eventually come to an end. But sometimes these periods are long enough to give you a helping hand and they come with other benefits as well.

Citi Double Cash Card

The Citi Double Cash Card gives you double the amount of cashback every time you make a purchase, with points added when you commit to buy and when the purchase goes through. You will not get any cashback for transferring your balance across, but you will get a 0% APR balance transfer rate that lasts for a total of 18 months.

You will need a credit score that is at least “Good” to get this card, but with one of the highest balance transfer rates on the market, and a rewards program that offers you plenty of points when you get back on you feet, it’s worth it.

This card comes with a balance transfer fee of 3% of the total balance, but there is no annual fee, which helps to offset this amount somewhat.

What You Need to Know

  • 0% APR on balance transfers for 18 months.
  • APR of 14.99% to 24.99% when introductory period ends.
  • Rewards scheme offers double cashback (2%) on unlimited purchases.
  • Get a pass on your first late fee.
  • Gain access to Citi Private Pass benefits.
  • Great fraud protection and 0% liability program.
  • Penalty APR of 29.99% may be charged if payments are missed following introductory period.

Wells Fargo Platinum Visa Card

A premium card that offers 0% on balance transfers for the first 18 months, the Wells Fargo Platinum Visa Card is not a rewards credit card, but it does offer some other benefits that make it a worthwhile inclusion on his list.

The Wells Fargo Platinum Visa Card offers free cell phone insurance, free access to your credit score, and a fast and easy signup process. However, this will depend on your credit score, which needs to be at least “Good”.

There is a 3% balance transfer charge for the first 18 months, as seems to be common practice, and this extends to 5% after that period ends.

What You Need to Know

  • 0% APR rate on balance transfers for first 18 months.
  • 16.65% to 26.49% after introductory period ends.
  • No annual fee.
  • Great fraud protection.
  • Get a $600 protection plan on your cell phone, with a deductible of just $25.

Chase Slate

The Chase Slate doesn’t have an 18 month 0% balance transfer rate like everything else on this page, but if you make your balance transfers within the first 60 days of opening your account then you won’t need to pay any extra cash. After this, the rate jumps to 5%, but that initial freebie period will be enough to cover most customers’ needs.

What You Need to Know

  • 0% APR on balance transfers for first 15 months.
  • Free balance transfers for first 60 days; 5% (or $5, whatever is smaller) thereafter.
  • 16.49% to 25.24% APR after the introductory period ends.
  • No penalty APR.
  • No annual fee.
  • More accessible to customers without excellent credit scores.

Discover It Credit Card

Another balance transfer credit card with a significant introductory offer, the Discover It is also a rewards card that gives you as much as 5% cashback at many popular stores, with many options for redeeming your points.

It has a good low-end APR if you can qualify, but you will need a credit score of at least 670 before you have a chance. There is a balance transfer fee of 3%, but there is no annal fee and there is also a 0% APR on purchases that lasts for 6 months.

What You Need to Know

  • 0% APR on balance transfers for 18 months.
  • 13.49% to 24.99% APR when the introductory period ends.
  • 5% limited cashback and 1% unlimited cashback.
  • Redeem points for cash at any time; points ever expire.
  • Use rewards at the Amazon checkout.
  • Late payments do not increase the APR.
  • No foriegn transaction fees.

American Express EveryDay Credit Card

American Express are one of the biggest providers of credit cards in the United States. They have deservedly earned their place on our previous lists of the best reward credit cards and prepaid credit cards, as well as this balance transfers list.

We have actually discussed this particular card before, because the American Express EveryDay Credit Card is both a generous rewards credit card and a good consolidation credit card. There is an introductory offer of 0% on balance transfers for 15 months and an APR that can go as low as 14.49% when that period ends.

As with the Chase Sate card there is no charge for balance transfers if they are made within the first 60 days and there is also no annual fee, helping you to keep those costs down.

You will need credit score of at least 690 to be considered for this card.

What You Need to Know

  • 0% on balance transfers for first 15 months.
  • 14.49% to 25.49% APR when introductory period ends.
  • Earn double rewards points to supermarkets up to $6,000.
  • No annual fee.
  • Receive 10,000 free rewards points when you spend $1,000 in first three months.
  • Other rewards and incentives.

Other Balance Transfer Credit Cards

Best Balance Transfer Cards

There are a few other balance transfer cards that didn’t quite make the cut, but are worth considering nonetheless.

  1. BarclayCard Ring MasterCard: There is no 0% introductory period here, but there is a 10.49% APR on all transfers and purchases, there is never a charge for foreign transactions or balance transfers and there is no annual fee.
  2. HSBC Cash Rewards MasterCard: A solid rewards card from a truly global bank that comes with a 0% APR on balance transfers for 15 months. There is a 4% transfer charge though, with a minimum of $10 charge.
  3. Citi Diamond Preferred: This card will not be for everyone and it has a few flaws, but the fact that it has an introductory 0% offer that lasts for 21 months makes it worthy of a place on this list.