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If you're carrying credit card debt, you can avoid paying high interest by using one of the best credit cards with introductory 0% APR offers on balance transfers. But it's not a license to splurge — be sure to use your credit card responsibly and avoid spending more than you can afford to prevent incurring even more debt.
Best Balance Transfer Credit Cards
- Wells Fargo Reflect® Card: Best for an extra-long intro APR on balance transfers and purchases
- Citi Simplicity® Card: Best for late payment forgiveness
- Blue Cash Everyday® Card from American Express: Best for groceries, gas, and online shopping
- Chase Freedom Unlimited®: Best for earning flexible rewards on everyday spending
- Chase Freedom Flex℠ : Best for rotating bonus categories and flexible redemptions
- Bank of America® Customized Cash Rewards Credit Card: Best for customizing cash-back bonus categories
- Citi® Double Cash Card: Best for strong flat-rate cash back earning
- Citi Custom Cash℠ Card: Best for automatically maximizing rewards
- Discover it® Balance Transfer: Best for rotating cash back bonus categories
- Chase Slate Edge℠: Best if you're building credit
To benefit from a balance transfer card, be sure you can pay off your balance in full before the introductory APR period ends — or you'll start paying interest on your balance once again. For a closer look at the pros and cons, read our guide to find out if balance transfers are worth it.
Compare Balance Transfer Credit Cards
Balance Transfer Credit Card Frequently Asked Questions
Balance transfer cards work by giving you a lower interest rate on your existing credit card debt, which can save you money. When you apply and are approved for a balance transfer credit card, you move over debt from another card, and you generally have an introductory 0% APR period before you have to start paying interest on that debt.
Ideally, you'll pay off your debt before the introductory period ends — otherwise, you'll have to pay interest on your remaining balance.
A balance transfer credit card could be right for you if you currently have credit card debt, and have a plan to pay it off. It could be a good idea to transfer a balance from one credit card to another if you want a bit of breathing room with the introductory 0% APR period. Balance transfers do help you pay off credit card debt without adding interest, but only if you pay off the balance before the intro period ends (when you'll start being charged interest fees again).
To complete a balance transfer, you'll first have to apply and get approved for a balance transfer credit card. Once you have a card with an introductory APR offer on balance transfers, to transfer your credit card balance, you'll need to request the transfer with the bank that issues your new balance transfer credit card.
You can generally initiate this process either online or by calling the number on the back of your card.
A balance transfer generally takes five to seven days, but the actual time can vary by issuer. Your bank may ask you to allow for up to 21 days for a balance transfer to go through, but usually, the transfer should be completed sooner.
Balance transfer credit cards usually require at least a good credit score to qualify. If you have bad credit — which is defined as a FICO score below 670— you probably won't be approved for a balance transfer card. A bank may be less inclined to approve you for a balance transfer card if your credit score and credit report indicate that you haven't been able to consistently pay off debts in the past.
Balance transfers can affect your credit in both positive and negative ways. Opening a balance transfer credit card can help your credit score by increasing your total available credit, which in turn improves your credit utilization rate. Paying down your debt will also be beneficial to your credit score. However, opening a new credit card triggers a hard inquiry on your credit report, which can decrease your credit score in the short term.
Balance Transfer Credit Card Offer Reviews
Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card tops our list for its extra-long intro APR offer on both balance transfers and purchases. New cardholders receive a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days (then 18.24%, 24.74%, 29.99% variable). Balance transfers must occur within 120 days of account opening to qualify for the intro 0% APR rate and will come with a fee of 5% for each balance transfer (minimum of $5).
Although the card doesn't earn Wells Fargo rewards for spending, cardholders do get a handful of good benefits, including cell phone protection and roadside dispatch. The cell phone protection is particularly compelling because no-annual-fee cards typically don't offer it. When you use the Wells Fargo Reflect® Card to pay your monthly cell phone bill, you'll receive coverage for cell phone damage or theft, up to $600 (with a $25 deductible) with a maximum of two claims per 12-month period.
Pros: Ultra-long 0% introductory APR on balance transfers and purchases (then a 18.24%, 24.74%, 29.99% variable APR), no annual fee
Cons: No welcome bonus offer or rewards, and few benefits aside from cell phone protection
Wells Fargo Reflect credit card review
Citi Simplicity® Card
Consumers with a lot of high-interest credit card debt could save more with a card that offers a 0% intro APR for as long as possible. The Citi Simplicity® Card extends one of the best offers in this category.
There's no annual fee, yet you get a 0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months. After that, your rate goes up to a 19.24% - 29.99% Variable APR based on your creditworthiness. Having a full 21 months with a 0% intro APR on balance transfers could help you pay down a ton of debt, but keep in mind you'll pay a 3% balance transfer fee (minimum of $5) for the privilege, and you need to make all transfers in the first four months.
Other perks this card offers include automatic account alerts, 24/7 customer service, and the ability to choose your payment due date.
Pros: No annual fee, solid 0% intro APR, no late fees
Cons: 3% intro balance transfer fee (minimum $5) on transfers completed within four months, then 5% (minimum $5), few cardholder perks
Amex Blue Cash Everyday
Amex offers a handful of cards with a 0% intro APR on balance transfers. The no-annual-fee Blue Cash Everyday® Card from American Express, which comes with useful bonus categories and monthly statement credits toward Home Chef and The Disney Bundle, is one of its best.
New cardholders receive a 0% intro APR on purchases and balance transfers for 15 months from account opening, followed by a 19.24% - 29.99% Variable APR. To qualify for the introductory rate, balance transfers must be completed within the first 60 days of account opening, and there's a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
There's also a welcome bonus offer of a $200 statement credit after you spend $2,000 in purchases on your new card in the first six months of card membership.
With the Blue Cash Everyday® Card from American Express you'll earn:
- 3% cash back at US supermarkets (up to $6,000 per year, then 1%)
- 3% cash back on US gas stations (up to $6,000 per year in purchases, then 1%)
- 3% cash back on US online retail purchases (up to $6,000 per year, then 1%)
- 1% cash back on all purchases (cash back is received in the form of Reward Dollars)
Otherwise, the Blue Cash Everyday® Card from American Express gets you perks like car rental insurance, purchase protection, access to the Global Assist Hotline, and the Amex Offers** program.
Pros: Long 0% intro APR, no annual fee, great earning rates in useful categories
Cons: Balance transfer fee, foreign transaction fees
Blue Cash Everyday Amex card review
Chase Freedom Unlimited®
The Chase Freedom Unlimited® is a great pick if you're looking for an intro APR on balance transfers and purchases with the opportunity to earn generous rewards for your day-to-day spending. New cardholders receive a 0% intro APR on purchases and balance transfers for the first 15 months (then a 20.49% - 29.24% Variable APR).
The intro balance transfer fee is 3% of the amount of each transfer (or $5, whichever is greater) on transfers made within 60 days of account opening. After that, the fee jumps to 5% of the amount of each transfer (or $5, whichever is greater). This card has no annual fee, but you will pay foreign transaction fees on international purchases.
While the Chase Freedom Unlimited® is marketed as a cash-back credit card, it earns Chase Ultimate Rewards® points, which you can redeem for cash back, travel booked through the Chase Portal, gift cards, merchandise, and more.
The card starts you out with a welcome bonus offer of 1.5% cash back in addition to regular earning on everything you buy up to $20,000 spent in the first year (worth up to $300 cash back). You'll also earn 5% back (5x points) on travel booked through Chase, 5% back (5x points) on Lyft rides through March 2025, 3% back (3x points) on dining (including takeout) and drugstores, and 1.5% back (1x points) on all other eligible purchases.
If you also have an annual-fee Chase card that earns Chase Ultimate Rewards points, such as the Chase Sapphire Preferred or the Chase Sapphire Reserve, you can combine your rewards and unlock more redemption options, including transferring points to Chase's airline and hotel partners.
Pros: Intro APR on balance transfers and purchases, strong earning on all spending, earns valuable Chase Ultimate Rewards points
Cons: 3% intro balance transfer fee (then 5% or $5, whichever is greater, if transfers are made more than 60 days after account opening), foreign transaction fees
Chase Freedom Unlimited review
Chase Freedom Flex℠
The Chase Freedom Flex℠ offers cardholders a 0% intro APR on purchases and balance transfers for the first 15 months (then a 20.49% - 29.24% Variable APR). The card offers an introductory balance transfer fee of 3% of the amount of each transfer (or $5, whichever is greater) for transfers made within 60 days of account opening (then a fee of 5% of the amount of each transfer or $5, whichever is greater).
You can earn $200 cash bonus (received as 20,000 bonus points) after spending $500 on purchases in the first three months from account opening, plus earn 5% cash back on grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year, as well as 5% (or 5x) in rotating categories each quarter (once activated) on up to $1,500 spent in combined spending. That's why we rank it the best 5% cash back credit card overall.
The Chase Freedom Flex℠ also earns:
- 5% cash back (5x points) on travel purchases made through Chase
- 5% back (5x points) on Lyft rides through March 2025
- 3% back (3x points) on dining and drugstores
- 1% back (1x points) on everything else
It's possible to combine your rewards from the Chase Freedom Flex℠ with eligible annual-fee Chase cards to get more value from your points.
Pros: Earn up to 5x points on spending, no annual fee, earn valuable Chase Ultimate Rewards points
Cons: 3% intro balance transfer fee (then 5% or $5, whichever is greater, if transfers are made more than 60 days after account opening), foreign transaction fees
Chase Freedom Flex credit card review
Bank of America® Customized Cash Rewards Credit Card
The Bank of America® Customized Cash Rewards Credit Card offers a long interest-free period on both balance transfers and purchases, and it's a solid choice if you want to earn a high rate of cash back in the category you choose.
New cardholders receive a 0% intro APR on purchases for the first 18 billing cycles and for any balance transfers made within the first 60 days of account opening, followed by a 18.24% - 28.24% Variable. There's a balance transfer fee of 3% of the amount of each transaction.
And there's a decent welcome offer: a $200 cash rewards bonus after you spend $1,000 on purchases within 90 days of account opening. The card earns 3% cash back in a category of your choice (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings), 2% back at grocery stores and wholesale clubs, and 1% back on all other purchases. The 3% and 2% rates apply to the first $2,500 in combined purchases per quarter (then 1% cash back).
I recently opened this card to take advantage of its 0% intro APR on both purchases and balance transfers, as I've had a few unexpected expenses pop up. Because I don't have other credit cards that earn bonus rewards for online shopping, I chose it as my 3% category, but BoA allows you to change this once a month (if you want).
Pros: Ability to earn the most cash back in a category you choose, no annual fee, long intro APR on balance transfers and purchases
Cons: Foreign transaction fees, few benefits, 3% balance transfer fee
Bank of America Customized Cash Rewards card review
Citi® Double Cash Card
With the Citi® Double Cash Card, you get a 0% intro APR on balance transfers for 18 months, then there's a rate of 19.24% - 29.24% Variable. That's a substantial amount of time to pay off your debt.
But what makes the Citi Double Cash Card a great pick is that it's one of the best cash-back credit cards in general, so it's worth using even after you've paid off your balance. Unfortunately, it isn't offering new cardholders any kind of welcome bonus at the moment.
The Citi Double Cash Card effectively earns 2% cash back on everything — 1 point per dollar when you make a purchase, and 1 point per dollar when you pay it off. That's why Insider rates it the best 2% cash back credit cards for balance transfers.
You won't earn cash back on balance transfers, but it's a great card for earning money back on your everyday expenses. And you can use Citi ThankYou points at a rate of 1 cent each for cash back, travel, gift cards, and more.
The intro balance transfer fee is 3% of each transfer completed within the first four months of account opening, with a minimum of $5. The ongoing balance transfer fee is 5% of each balance transfer, with a minimum charge of $5.
Pros: Strong cash-back rate, no annual fee, long intro APR period
Cons: No welcome bonus at this time, 5% balance transfer fee, 3% foreign transaction fee
Citi Custom Cash℠ Card
The Citi Custom Cash℠ Card is a great choice if your spending habits tend to change from month to month. Cardholders earn 5% cash back on up to $500 in purchases in the eligible category they spend the most in each billing cycle (then 1%), and 1% on all other purchases.
The qualifying categories include everyday expenses that should appeal to most folks: restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment.
New cardholders receive an introductory 0% intro APR on balance transfers and purchases for 15 months, then a 19.24% - 29.24% Variable APR. There's a 5% balance transfer fee (minimum $5) and $0 annual fee.
Although it's marketed as a cash-back card, the Citi Custom Cash℠ Card actually earns rewards in the form of Citi ThankYou points, which are worth 1 cent apiece for cash back, travel booked through the Citi ThankYou Travel Portal, gift cards, merchandise, and more. And if you have the Citi Premier® Card or Citi Prestige® Card (no longer available to new applicants), you can pool your rewards and transfer points to Citi's airline and hotel partners.
Pros: 0% intro APR on both balance transfers and purchases, no annual fee, strong rewards earning
Cons: 5% balance transfer fee, foreign transaction fees
Discover it® Balance Transfer
If you're carrying high-interest balances on other credit cards, the no-annual-fee Discover it® Balance Transfer is a great card for consolidating debt as it offers 0% intro APR on balance transfers for 18 months and on purchases for six months (then a 17.24% - 28.24% Variable APR). It has an intro balance transfer fee of 3%, increasing up to 5% for future transfers.
With the Discover it® Balance Transfer, you can earn 5% cash back in the rotating quarterly bonus category up to the first $1,500 spent (then 1%). But keep in mind that you'll need to manually activate the bonus each quarter in your eligible Discover account (from July 1 to September 30, 2023, you can earn 5% cash back at Gas Stations and Digital Wallets on up to $1,500 in purchases after enrollment, then 1%).
The Discover cash back calendar for Q3 2023 should be easy to maximize for many folks. From July 1 to September 30, 2023, the categories are gas stations and digital wallets.
Although the card doesn't offer a traditional welcome bonus, Discover will match all the rewards you earn after the first year. You can also qualify for free Social Security Number alerts, no foreign transaction fees, and no late fees on your first late payment.
Pros: 0% intro APR good for both balance transfers and purchases, Cashback Match in the first year, quarterly rotating bonus categories
Cons: Only earns 1% back outside of bonus categories, 3% intro balance transfer fee and up to 5% fee on future balance transfers (see terms)
Discover it Balance Transfer card review
Chase Slate Edge℠
The Chase Slate Edge℠ doesn't earn cardholders rewards on purchases, or offer a welcome bonus, but that's not the point of the card. The card is geared toward folks looking to improve their financial situation and increase their credit score.
With the Chase Slate Edge℠, you'll get a great 0% intro APR on purchases and balance transfers for 18 months from account opening (then a 20.49% - 29.24% Variable APR). So if you're looking for 0% APR on both balance transfers and purchases, this card is definitely worth considering.
Moreover, you can receive an automatic, one-time review of your credit for the chance of a higher limit. But keep in mind that first, you'll need to consistently pay on time and spend at least $500 in the first six months of opening the card.
On each account anniversary, you'll be considered for a 2% APR reduction, as long as you've paid your card on time and spent at least $1,000 on purchases in the previous anniversary year. The reduction is capped, though — it will only be reduced until your APR reaches the Prime Rate plus 9.74% (Prime Rate is 7.00% as of November 3, 2022).
Pros: Intro APR is good for both balance transfers and purchases, automatic consideration for credit line increase and APR reduction if spending requirements are met
Cons: No rewards or welcome bonus offer
Balance Transfer Credit Card Basics
The average credit card interest rate is over 20%, and it could be even higher depending on your credit score and the card you're using. The last thing you want is to find yourself in the quicksand of credit card interest.
Before you decide to use a 0% intro APR credit card, be sure you have the means and a plan to pay off your balance in full before the introductory APR period ends — otherwise, you'll end up having to pay interest on your remaining balance.
If you don't think you'll be able to pay off your debt in full by the time the introductory APR offer expires, a balance transfer credit card may not be worth it.
What is a balance transfer card?
A balance transfer card is a credit card that lets those with existing debt move their outstanding balance over from another card to avoid interest fees. You're able to avoid interest on a balance transfer card thanks to an intro 0% APR offer, which lasts anywhere from nine to 21 months.
After this introductory period is over, your APR will reset to the standard variable rate. So you need to pay off your credit card debt in full before the intro APR period ends to avoid interest charges.
What's the catch? One disadvantage of a credit transfer is that balance transfer credit cards typically charge an upfront fee of 3% or 5% of your balance — or $300 to $500 for every $10,000 in high-interest debt you transfer. If you don't need to transfer a balance but you need to make a large purchase that you'll need time to pay off, see our list of the best zero interest credit cards.
What are the pros and cons of credit card balance transfers?
The pros to balance transfers and balance transfer credit cards are that you can get more time to pay off an existing balance without incurring sky-high interest fees. Balance transfers also allow you to consolidate credit card debt into one card, which makes it easier to manage your payments without anything slipping through the cracks. And, as mentioned above, opening a balance transfer card can improve your credit score by lowering your credit utilization ratio, provided you don't use up the line of credit on your new card.
What is the downside of a balance transfer? For one, most balance transfer cards come with a balance transfer fee, which is usually 3% to 5% of the amount you're transferring. The other huge potential drawback is that if you don't pay off your total balance before the promotional APR period ends, you'll be charged high interest rates, so you'll want to make sure it's feasible to pay down your balance before the intro APR offer ends.
How To Do a Balance Transfer
Can I get a balance transfer from Bank of America?
Yes, you can complete a balance transfer through Bank of America with a few of its credit cards. If you're applying for a new Bank of America credit card that offers a balance transfer, you may have the option to request the balance transfer right in the application. If you already have a balance transfer card, you can request a balance transfer through the mobile app or the website.
Can I get a balance transfer from Chase?
You can do a balance transfer with a handful of Chase credit cards, and Chase says most transfer requests are processed within a week (though they can take up to 21 days in some cases).
Can I get a balance transfer from Capital One?
You can complete balance transfers with a few different Capital One credit cards. Some of them charge a 3% transfer fee when you complete a balance transfer. You can request a balance transfer online or over the phone, and Capital One says the process typically takes three to 14 days.
Can I get a balance transfer with Discover?
Discover lets you complete a balance transfer, and it even has a card tailored specifically to people looking to complete one. Note that your Discover card account must be open for at least 14 days before your balance transfer request can be processed.
Why You Should Trust Us: How We Chose the Credit Cards for Balance Transfers
Insider selected the best balance transfer cards by looking at all the credit cards with balance transfer offers that are currently available to new applicants.
From there, we narrowed our list down to balance transfer cards offering 0% introductory offers. We arrived at our final picks by evaluating the terms of each introductory APR offer and other card benefits. We prioritized cards that charge lower balance transfer fees as well as cards with the longest introductory 0% APR periods on balance transfers. We also factored in other card benefits, such as cash back or travel rewards, annual fees, and waived late fees.
Here's Insider's methodology for rating credit cards.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip Delay Insurance, Trip Cancellation and Interruption Insurance, and Cell Phone Protection Underwritten by New Hampshire Insurance Company, an AIG Company. Global Assist Hotline Card Members are responsible for the costs charged by third-party service providers. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers. Extended Warranty, Purchase Protection, and Baggage Insurance Plan Underwritten by AMEX Assurance Company. Car Rental Loss & Damage Insurance Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
For rates and fees of the Blue Cash Everyday® Card from American Express, please click here.
For rates and fees of Discover it® Balance Transfer, please click here.