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A 0% balance transfer credit card can help you manage and eliminate debt with introductory offers that provide a temporary break from interest charges. The best balance transfer credit cards available from our partners have introductory 0 percent APR offers lasting 12 to 21 months, giving you an opportunity to avoid paying APR on a transfer until early 2023 — or even 2024. You can see how it works with our Credit Card Balance Transfer Calculator and Credit Card Payoff Calculator.
13 best Balance Transfer Credit Cards - Top Offers November 2022:
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
18 months
0% intro APR for up to 21 months from account opening on qualifying balance transfers
Purchase intro APR
0% intro APR for up to 21 months from account opening
Regular APR
16.74% - 28.74% Variable APR
Rewards rate
N/A
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Used correctly, this card from Wells Fargo boasts the longest intro APR on purchases and qualified balance transfers on the market: 18-months from account opening at 0 percent interest (then 16.74 percent to 28.74 percent variable APR), plus the option for a three-month extension if you make on-time monthly minimum payments during the intro period. That means up to 21 months of skipping interest is on the table.
The lengthy promotional APR extends to purchases and qualified balance transfers.
You can get up to $600 in cell phone protection against damage or theft (subject to a $25 deductible) if you use the card to pay your monthly phone bill.
Cons
If you don’t transfer a balance within 120 days of account opening, it could be subject to a pricey balance transfer fee (5 percent or $5, whichever is greater).
The card has limited long-term value due to its lack of a traditional rewards program.
0% intro APR for 18 months from account opening on purchases and qualifying balance transfers. Intro APR extension for 3 months with on-time minimum payments during the intro period. 16.74% to 28.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min $5.
$0 Annual Fee
Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
Select "Apply Now" to learn more about the product features, terms and conditions
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
21 months
0% for 21 months on Balance Transfers
Purchase intro APR
0% for 12 months on Purchases
Regular APR
17.74% - 28.49% (Variable)
Rewards rate
N/A
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The beauty of the Citi Simplicity Card is its long intro APR period and leniency on fees and major penalties. This card offers no late fee, no annual fee and no penalty APR. Important note: Making a late payment on a transferred balance on this card is a violation of the terms of the intro offer.
Read our full Citi Simplicity review
Pros
The card does not charge a late fee for missed payments, though they can still hurt your credit score.
There is no penalty APR charged for missing a payment with this card, though it’s always best to pay on time and in full when possible.
Cons
There is no rewards program or welcome bonus associated with this card.
There is an introductory balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater for balances transfers completed within 4 months of account opening.
No Late Fees, No Penalty Rate, and No Annual Fee... Ever
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 17.74% - 28.49%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
There is an introductory balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater for balances transfers completed within 4 months of account opening.
Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
15 months
0% intro APR for 15 months from account opening on qualifying balance transfers
Purchase intro APR
0% intro APR for 15 months from account opening
Regular APR
18.74%, 23.74%, or 28.74% Variable APR
Rewards rate
2%
Earn unlimited 2% cash rewards on purchases
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The Wells Fargo Active Cash Card offers the opportunity to earn one of the highest cash rewards rates available on eligible purchases—no category restrictions or limits. Our advice is to use the balance transfer offer to pay debt and then put the card to use as a rewards earning machine.
You can earn 2 percent unlimited cash rewards on purchases with this card, a high rate compared to most balance transfer cards.
There’s no annual fee, so you won’t be charged to hold the card.
Cons
There are balance transfer cards that offer a longer window on their introductory APR offers.
You must transfer your balance within the first 120 days of account opening to avoid an increased balance transfer fee of up to 5 percent (minimum of $5).
Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
Earn unlimited 2% cash rewards on purchases
0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 18.74%, 23.74%, or 28.74% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5
$0 annual fee
No categories to track or remember and cash rewards don't expire as long as your account remains open
Enjoy a premium collection of benefits at a selection of the world's most intriguing and prestigious hotel properties with Visa Signature Concierge
Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card. (subject to a $25 deductible).
Select “Apply Now” to learn more about the product features, terms and conditions
additional features
Intro offer
Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
18 months
0% for 18 months
Purchase intro APR
0% for 6 months
Regular APR
14.99% - 25.99% Variable
Rewards rate
1%–5%
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Earn unlimited 1% cash back on all other purchases - automatically.
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The lengthy 18-month 0 percent introductory APR on balance transfers (then 14.99 percent to 25.99 percent variable APR) makes this card a good choice for paying off existing high-interest credit card balances, while the competitive cash back rewards program provides value in the long term.
The card doesn’t charge an annual fee or foreign transaction fees.
There is a short introductory APR on purchases: 0 percent for six months, then 14.99 percent to 25.99 percent variable.
Cons
There are a few cards that offer longer introductory APRs on balance transfers.
The rewards program is a bit complex and could prove distracting for people who prefer to focus on paying down debts.
Intro Offer: Unlimited Cashback Match - 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 each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.
Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
Every $1 you earn in cash back is $1 you can redeem.
No annual fee.
Click "Apply Now" to see terms and conditions.
additional features
Intro offer
Intro Offer: Unlimited Cashback Match - 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.
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
15 months
0% intro on balance transfers for 15 months
Purchase intro APR
0% intro on purchases for 15 months
Regular APR
17.99% - 27.99% (Variable)
Rewards rate
1.25X–5X
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options Earn unlimited 1.25X miles on every purchase, every day.
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
This card offers a slew of appealing features, including flexible travel miles, no annual fee and a modest balance transfer offer. You can even boost your reward earnings by booking through Capital One’s travel portal.
This card has an intro offer on both balance transfers and purchases.
The welcome bonus on this card is worth $200 toward travel booked through Capital One Travel.
Cons
You must book travel purchases through the travel portal to take advantage of boosted rewards rates.
Redeeming your miles for anything outside of travel may reduce their value.
$0 annual fee and no foreign transaction fees
Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
Earn unlimited 1.25X miles on every purchase, every day
Miles won't expire for the life of the account and there's no limit to how many you can earn
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
Transfer your miles to your choice of 15+ travel loyalty programs
Enjoy 0% intro APR on purchases and balance transfers for 15 months; 17.99% - 27.99% variable APR after that; 3% fee on the amounts transferred within the first 15 months
additional features
Intro offer
Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
18 billing cycles
0% intro APR for 18 billing cycles on balance transfers
Purchase intro APR
0% intro APR for 18 billing cycles on purchases
Regular APR
18.24% - 28.24% (Variable)
Rewards rate
N/A
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Though it doesn’t offer the longest intro APR period out there, this card still earns a top spot for its lengthy offer on both balance transfers and new purchases, as well as the ongoing payment flexibility that comes with its ExtendPay™ Plan feature.
The intro APR offer applies to both balance transfers and purchases, making financing big ticket items more feasible.
It carries a balance transfer fee of just 3 percent (or $5, whichever is greater) — lower than the 5 percent fee many cards charge.
Cons
It doesn’t earn rewards, so likely won’t have much long-term value unless you plan to take advantage of its ExtendPay Plan.
The ongoing APR is a bit high compared to the rate available on some of the top low-interest cards, which could prove costly if you still have a balance at the end of your intro APR period.
0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 18.24% - 28.24%.
Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
15 months
0% intro on balance transfers for 15 months
Purchase intro APR
0% intro on purchases for 15 months
Regular APR
17.99% - 27.99% (Variable)
Rewards rate
1.5%–5%
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Earn unlimited 1.5% cash back on every purchase, every day
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The Capital One Quicksilver Cash Rewards card is a decent option for a balance transfer, offering 15 months of intro zero-interest before its regular APR of 17.99 percent to 27.99 percent variable (3% fee on the amounts transferred within the first 15 months). However, this no-fuss balance transfer card offers a base rewards rate of at least 1.5 percent on all purchases, rewarding a variety of spending categories.
The welcome offer on this card is easily attainable.
One of your redemption options can be on purchases at Amazon.com.
Cons
You could earn more rewards with other flat-rate or bonus category cash back cards.
There are longer balance transfer and purchase offers on the market.
Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
Earn unlimited 1.5% cash back on every purchase, every day
$0 annual fee and no foreign transaction fees
Enjoy up to 6 months of complimentary Uber One membership statement credits through 11/14/2024
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
0% intro APR on purchases and balance transfers for 15 months; 17.99%-27.99% variable APR after that; 3% fee on the amounts transferred within the first 15 months
additional features
Intro offer
One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
21 billing cycles
0% Intro APR for 21 billing cycles on BTs made 1st 60 days. 3% fee, min $10. Then 14.99-24.99% Var. APR
Purchase intro APR
0% Intro APR for 21 billing cycles for purchases
Regular APR
14.99% - 24.99% Variable APR on purchases and balance transfers
Rewards rate
N/A
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The BankAmericard credit card has one of the lengthiest offers among our list of best balance transfer credit cards, but there's another feature worth your consideration. The card doesn't charge a penalty APR, which means your interest rate won't automatically rise if you pay your bill late.
Depending on your credit, this card could have fairly low ongoing 14.99% - 24.99% variable APR compared to other balance transfer cards.
Cons
There are no extra rewards programs that come with this card.
You’ll be charged a 3 percent foreign transaction fee on purchases you make abroad.
New longer intro period! 0% Introductory APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 14.99% - 24.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
No annual fee.
No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
Access your FICO® Score for free within Online Banking or your Mobile Banking app.
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.
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
21 months
0% for 21 months on Balance Transfers
Purchase intro APR
0% for 12 months on Purchases
Regular APR
16.74% - 27.49% (Variable)
Rewards rate
N/A
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
If you’re looking for a no-fuss balance transfer card, the Citi Diamond Preferred Card is a great option. This card may not boast long-term value due to its lack of rewards offers, but the intro APR period is still fairly long and will allow you the time and space you need to pay down debt.
This card offers a fairly long intro APR period on purchases and balance transfers.
There is no annual fee, which is a plus when looking to focus on paying down transferred balances.
Cons
There’s no rewards program, eating into the card’s long-term value.
This card charges a penalty APR of up to 29.99 percent variable if you don’t pay your bill on time.
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 16.74% - 27.49%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
For a limited time earn a $150 Statement Credit after you spend $500 on purchases in the first 3 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.
additional features
Intro offer
For a limited time earn a $150 Statement Credit after you spend $500 on purchases in the first 3 months of account opening.
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
18 months
0% intro for 18 months on Balance Transfers
Purchase intro APR
N/A
Regular APR
17.74% - 27.74% (Variable)
Rewards rate
2%
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The Citi Double Cash Card offers the chance to earn cash back on purchases and save money on interest with a balance transfer. The 18-month 0 percent intro APR period (17.74 percent to 27.74 percent variable APR after) is among the longest on our list of best balance transfer cards.
The potential cash back rate at which you earn on this card is one of the highest cash back rates out there for a flat-rate cash back card.
This card does not charge an annual fee, saving cardholders a bit more each year.
Cons
This card won’t work for consumers who are still trying to build their credit. To qualify, you need a good-to-excellent credit score.
The intro APR on this card only covers balance transfers and will not be helpful with financing large purchases.
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.
Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.74% - 27.74%, 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).
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
15 months
0% for 15 months on balance transfers
Purchase intro APR
0% for 15 months on purchases
Regular APR
17.74% - 27.74% (Variable)
Rewards rate
1%–5%
Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Earn unlimited 1% cash back on all other purchases.
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The Citi Custom Cash Card combines balance transfer offers and generous rewards. The bonus cash back rate applies to the eligible category where you spend the most each billing cycle (up to the first $500 spent each billing cycle, 1 percent cash back thereafter), so you don't have to enroll or devise a spending strategy in advance.
There are intro APR offers on both balance transfers and purchases with this card.
This card carries some unique perks like cell phone protection and a complimentary 3-month DashPass subscription.
Cons
This card does charge a foreign transaction fee on purchases made internationally.
There is a $500 spending cap per billing cycle on the cash back you can earn in your top spending category (1 percent cash back thereafter).
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.
0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 17.74% - 27.74%, based on your creditworthiness.
Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
No Annual Fee
Citi will only issue one Citi Custom Cash℠ Card account per person.
additional features
Intro offer
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.
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
18 billing cycles
0% Intro APR for 18 billing cycles on BTs made 1st 60 days. 3% fee, min $10. Then 16.99-26.99% Var. APR
Purchase intro APR
0% Intro APR for 18 billing cycles for purchases
Regular APR
16.99% - 26.99% Variable APR on purchases and balance transfers
Rewards rate
1.5%
Earn unlimited 1.5% cash back on all purchases.
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Bank of America loyalists who qualify for the Preferred Rewards Program could find a huge bang for their buck in the Bank of America Unlimited Cash Rewards credit card. If you qualify for this program, you could get a 25 percent to 75 percent boost on your cash rewards potential.
The rewards you earn with this card never expire and there’s no minimum amount that you need to redeem for direct deposits or statement credits.
This card does not charge an annual fee for holding the card, saving a bit of money for cardholders.
Cons
This card does charge a foreign transaction fee on purchases made outside of the U.S.
There is a 3 percent (or $10 of the amount of each transaction, whichever is greater.) balance transfer fee applied to balance transfers made on this card.
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Earn unlimited 1.5% cash back on all purchases.
If you're a Preferred Rewards member, you can earn 25%-75% more cash back on every purchase. That means you could earn 1.87%-2.62% cash back on every purchase with Preferred Rewards.
No annual fee.
No limit to the amount of cash back you can earn and cash rewards don’t expire.
New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.99% - 26.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
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.
additional features
Intro offer
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Our writers, editors and industry experts score
credit cards based on a variety of factors
including card features, bonus offers
and independent research. Credit card issuers have
no say or influence on how we rate cards.
Balance transfer intro APR
18 billing cycles
0% Intro APR for 18 billing cycles on BTs made 1st 60 days. 3% fee, min $10. Then 16.99-26.99% Var. APR
Purchase intro APR
0% Intro APR for 18 billing cycles for purchases
Regular APR
16.99% - 26.99% Variable APR on purchases and balance transfers
Rewards rate
1%–3%
Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Earn unlimited 1% on all other purchases.
Recommended credit
Good to Excellent (670 - 850)
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
The Bank of America Customized Cash Rewards credit card might not have the longest introductory offers, but its potential for long-term value is better than some of its direct competitors, due to its competitive cash back rewards program.
Your cash back won’t expire as long as the account is open and in good standing. Rewards can be redeemed as a deposit, a statement credit, and more.
You have the unique opportunity to change your 3 percent spending category once a month.
Cons
There’s a spending cap on 3 percent cash back in the category of your choice and 2 percent cash back at grocery stores and wholesale clubs (combined $2,500 per quarter, then 1 percent on other purchases).
There is a balance transfer fee of 3 percent ($10 minimum) and you must transfer within the first 60 days to qualify for the intro APR offer.
$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.
If you're a 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 no expiration on rewards.
New longer intro period! 0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 16.99% - 26.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.
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.
additional features
Intro offer
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Annual fee
$0
Compare Bankrate’s best 0% balance transfer credit cards
Card name
Bankrate’s pick for
Balance transfer intro APR period
Regular APR
Bankrate review score
Wells Fargo Reflect Card
Balance transfer beginners
Up to 21 months
From account opening for 18 months, plus 3 months if you make on-time monthly payments during the intro period.
A closer look at Bankrate’s top 0% balance transfer cards
Wells Fargo Reflect Card: Best for balance transfer beginners
What we love about the Wells Fargo Reflect Card: We consider this card a prime pick for people in the market for a balance transfer credit card, as its potentially low regular APR rate and intro APR offer is top-notch and among the longest promotional APR offers currently available.
Who this card is good for: Balance transfer newbies will appreciate this card’s user-friendly features, including its lengthy introductory APR period as well as its longer-than-usual 120-day window to initiate transfers. Balance transfers made within the first 120 days of membership qualify for the intro rate and 3 percent fee (minimum $5). Thereafter, the balance transfer fee goes up to 5 percent (or minimum $5).
Alternatives: The Chase Freedom Unlimited Card is ideal for anyone ready to forego a longer introductory APR period on balance transfers in exchange for the opportunity to receive cash back rewards.
What we love about the Citi Simplicity Card: The Citi Simplicity charges no penalty APRs or late fees for missed payments, making it a very friendly card for people struggling to pay off credit card debt.
Who this card is good for: People who need something simple, flexible and easy to use and want to temporarily avoid interest on a balance transfer for an extended period without having to pay late fees or annual fees.
Alternatives: The Simplicity card does not have any rewards, so it is not a great choice for those who love earning cash back or points from their credit cards. If you’re more interested in a cash back rewards card for everyday use, rather than just using the card for paying off a balance transfer, the Blue Cash Preferred® Card from American Express could provide better long-term value than the Citi Simplicity Card.
Wells Fargo Active Cash Card: Best for 2% cash rewards
What we love about the Wells Fargo Active Cash Card: Its generous cash back rewards rate and 15-month 0 percent introductory APR offer on qualifying balance transfers from account opening (18.74 percent, 23.74 percent or 28.74 percent variable APR thereafter). Cards that earn unlimited 2 percent cash rewards on purchases are rare, but a card that also has introductory APR offers is rarer still.
Who this card is good for: Anyone looking for a card with both an intro APR offer for qualifying balance transfers and purchases from account opening, as well as an exceptional cash rewards program.
Alternatives: For people who want to make the length of the introductory offer the top priority, the Wells Fargo Reflect Card would provide a longer introductory period on balance transfers than the Wells Fargo Active Cash Card.
Discover it Balance Transfer: Best for rotating category cash back
What we love about the Discover it Balance Transfer Card: The card is decidedly well-rounded, with competitive base rewards, a generous welcome offer with Cashback Match (all cash back earned in the first year will be matched at the end of it) and 0 percent intro APR offer on balance transfers for 18 months (14.99 percent to 25.99 percent (variable) APR thereafter)
Who this card is good for: Someone who needs to pay down existing credit card debt in the short term but wants to earn rewards for the long term.
Alternatives: If you’re looking for a low-maintenance rewards program, a flat-rate rewards card such as Wells Fargo Active Cash Card could help you better maximize your spending while paying down your balance transfer.
Capital One VentureOne Rewards Credit Card: Best travel card with a balance transfer offer
What we love about the Capital One VentureOne Rewards Card: It’s an affordable travel card that has the added perk of a 15-month 0 percent intro APR offer on qualifying balance transfers. Plus, cardholders can get special entry rates into Capital One’s new airport lounges with this card. After the intro APR offer ends, the variable APR will be 17.99 percent – 27.99 percent.
Who this card is good for: People who want a low-cost travel card that’s fairly well-rounded for both travel purchases such as hotel and flight bookings and balance transfers. The card doesn’t have a foreign transaction fee, so it‘s also good for those who want to travel anywhere in the world without paying that extra charge.
Alternatives: Since the Capital One VentureOne Rewards Card doesn’t carry the strongest portfolio of travel perks outside of its basic security, purchase and travel protections, anyone looking for the luxury perks and benefits that come with higher-cost travel credit cards may prefer the Chase Sapphire Reserve Card.
U.S. Bank Visa Platinum Card: Best for financing purchases
What we love about the U.S. Bank Visa Platinum Card: Even after your intro APR period ends, this card gives you a chance to pay off purchases over time at a low cost. Thanks to U.S. Bank’s ExtendPay Plan, you can divide eligible large purchases into fixed monthly installments and chip away at charges at a fixed monthly fee, instead of paying at the card’s regular APR.
Who this card is good for: People who need to pay off debt and may need to finance new large purchases even after their intro APR period ends.
Alternatives: Since this card doesn’t earn any ongoing rewards, it may not offer much value after its intro APR period ends. Unless you need a full 18 billing cycles to pay off your debt, consider the Wells Fargo Active Cash Card instead. You can still tackle debt with its 0 percent intro APR for 15 months from account opening on qualifying balance transfers (after which a 18.74%, 23.74%, or 28.74% variable APR applies), but you’ll also enjoy a best-in-class flat rewards rate of 2 percent cash rewards on purchases.
Capital One Quicksilver Cash Rewards Credit Card: Best for no foreign transaction fee
What we love about the Capital One Quicksilver Cash Rewards Card: Its intro APR offer and additional benefits, as cardholders have access to exclusive travel and entertainment perks through Capital One Access.
Who this card is good for: Anyone who wants to use their card for more than just a balance transfer. Along with having no foreign transaction fee, there is unlimited 1.5 percent cash back on all purchases and a $200 cash rewards welcome bonus after spending only $500 on purchases within your first three months, so you can take advantage of this card’s travel and reward benefits as soon as you get it.
Alternatives: The Bank of America Customized Cash Rewards Card may better match someone looking to earn high rewards rates with tiered bonus categories, as the Capital One Quicksilver only allows you to earn flat-rate rewards.
BankAmericard credit card: Best for longest intro APR
What we love about the BankAmericard Credit Card: This card boasts one of the market’s longest promotional offers for purchases and balance transfers, which can save you money on interest and help you pay off your balance faster. Plus, it has no annual fee, so you won’t have to worry about spending money on that while you work to pay down debt and build credit.
Who this card is good for: Someone who wants the assurance of a lengthy introductory offer on balance transfers without the prospect of an annual fee or penalty APR looming over them, but doesn’t want to take on any new debt.
Alternatives: The Citi Simplicity Card is a similar balance transfer card option that may be the ideal solution for anybody looking to avoid an annual fee, penalty APR, and late penalties altogether, unlike with the BankAmericard, which has a late payment fee.
Citi Diamond Preferred Card: Best for excellent credit
What we love about the Citi Diamond Preferred Card: The Citi Flex Loans feature provides an opportunity to borrow money against your Citi card credit limit at a fixed rate (although it’s not available to all cardholders). This can be particularly useful if you want to pay off multiple loans or credit card balances, or if you have a big purchase coming up and want to pay for it using your credit card.
Who this card is good for: Someone interested in a simple but effective method of temporarily avoiding interest on a balance transfer or purchase, as it offers a 0 percent intro APR for 21 months on balance transfers and 12 months on purchases with no annual fee (16.74 percent to 27.49 percent variable APR thereafter).
Alternatives: The Capital One SavorOne Cash Rewards Credit Card is ideal for anybody looking for additional benefits, rewards programs or premium perks, since the Diamond Preferred Card has little long-term value outside of its potentially low ongoing APR.
What we love about the Citi Double Cash Card: With the Citi Double Cash, you’ll get an 18-month 0 percent introductory APR offer on balance transfers as well as earn 1 percent cash back on every purchase and another 1 percent (2 percent total) when you pay off those purchases — allowing you get double the rewards. After the intro APR offer, the variable APR will be 17.74 percent – 27.74 percent.
Who this card is good for: Anyone who wants a card with lengthy introductory offers on balance transfers plus a cash back program. It’s also great for people who want to earn rewards on their spending and not have to worry about spending caps or other restrictions.
Alternatives: The Double Cash currently doesn’t offer an introductory APR offer on new purchases, so shoppers looking for a temporary break from interest on purchases along with balance transfers may find the U.S. Bank Visa Platinum Card to be a better fit.
Citi Custom Cash Card: Best for automatic bonus category
What we love about the Citi Custom Cash Card: It has a decent intro APR period (0 percent intro APR for 15 months on balance transfers completed within the first four months of account opening; 17.74 percent to 27.74 percent variable APR thereafter) and the opportunity to maximize rewards. Some bonus-rate cards involve rotating categories that you’re required to activate every quarter, but with this card, your top spending category becomes your bonus category each billing cycle.
Who this card is good for: Anyone who wants a balance transfer credit card that also earns bonus rate cash back — automatically, in any of 10 eligible categories — based on their spending each billing cycle (up to the maximum spend each billing cycle).
Alternatives: People concerned about paying a balance transfer fee higher than the typical 3 percent may be interested in the BankAmericard credit card, as it notably has a low balance transfer fee and one of the longest intro APR periods.
Bank of America Unlimited Cash Rewards credit card: Best for unlimited 1.5% cash back
What we love about the Bank of America Unlimited Cash Rewards Card: The 18-billing cycle 0 percent intro APR period on purchases and qualifying balance transfers (16.99 percent to 26.99 percent variable APR thereafter) and boosted rewards rate makes this card a no-brainer. Bank of America Preferred Rewards members earn 25 percent to 75 percent more cash back (based on your enrollment tier), meaning members could earn a maximum of up to 2.62 percent cash back on every purchase.
Who this card is good for: People who want a balance transfer card with unlimited, uncomplicated cash back that never expires.
Alternatives: Cash back maximizers who don’t mind keeping track of a few bonus categories to earn a higher rewards rate while paying down a balance may find more value with the Discover it® Cash Back.
Bank of America Customized Cash Rewards credit card: Best for flexible rewards categories
What we love about the Bank of America Customized Cash Rewards Card: Its 18-month 0 percent intro APR period (16.99 percent to 26.99 percent variable APR thereafter) and cash back potential, as not many cards offer the opportunity to choose your preferred rewards category. The Customized Cash Rewards card lets you pick your highest earning in one of six categories — travel, gas, dining, online shopping, drug stores or home improvement and furnishings — and your next tier of earnings are on grocery store and wholesale club purchases.
Who this card is good for: Frequent shoppers who want to match their spending habits with cash back categories without affecting their responsible use of the introductory offer on purchases and qualifying balance transfers.
Alternatives: People who just want to take advantage of an introductory APR offer on balance transfers and have less interest in pursuing rewards may want to consider the Citi Diamond Preferred Card instead.
Capital One SavorOne Card: Best for everyday purchases
What we love about the Capital One SavorOne card: If you’re looking for a card that will still offer value after you finish paying off debt, it’s hard to go wrong with the SavorOne thanks to its wide bonus category coverage and $0 annual fee. You can earn rewards in several of the most popular everyday spending categories, making it easily one of the most practical and lucrative standalone rewards cards out there.
Who this card is good for: Anyone who needs to chip away at debt or finance new purchases and feels confident they can pay off their balance within 15 months. Foodies and families will especially love the card’s generous rewards rates at grocery stores, restaurants and entertainment.
Alternatives: Consider the Citi Custom Cash℠ Card if you want a balance transfer card with exceptional long-term value but already have a card for everyday rewards. You’ll get a 0 percent intro APR on balance transfers for 15 months (17.74% to 27.74% variable APR after that) and 5 percent back in your top eligible spending category each billing cycle (up to $500 per billing cycle). It offers a terrific mix of practical bonus categories such as grocery stores, gas stations, drugstores and more.
A balance transfer credit card can help you pay off your debt by transferring existing card balances to a new credit card with a 0 percent intro APR period. During that time, you have the chance to pay off the principal without paying interest. When the intro APR period ends, interest will apply to any remaining balance at the end of each billing cycle like a regular credit card.
A balance transfer fee compensates a lender for taking the risk of issuing a temporary interest-free loan. The typical fee is 3 or 5 percent of the balance being transferred and is always at least $5 or $10.
In the News
According to industry expert Ted Rossman, balance transfer offers have gotten even more generous in recent months, despite the Federal Reserve’s series of interest rate hikes. Read the full story on how balance transfer competition is heating up and learn how to take advantage of these offers.
How long does a balance transfer take?
The amount of time it takes for the balance to be transferred from one credit card to another will vary by issuer. Some credit card companies may take up to six weeks to complete balance transfers, while others may take as little as two days. You will typically receive an estimated turnaround time from your card provider in advance.
Also, if your new card issuer approves your balance transfer request, it must coordinate the transfer with your current card issuer, which could cause potential delays.
How much money could you save with a 0% balance transfer?
A 0 percent intro offer could save you several hundred dollars or more if you’re paying down a large balance.
Experian’s 2021 State of Credit report shows that the average credit card balance reached $5,525. Here’s how much you could save by transferring a credit card balance of $5,525 to one of our best balance transfer credit cards, based on the following conditions:
You would pay the balance transfer fee upfront and pay off the $5,525 balance within the intro offer period.
Potential savings with each card are calculated by comparing how much interest you would pay on your current card at 20 percent APR (using our Credit Card Payoff Calculator), minus the balance transfer fee.
Example savings by credit cards with the highest savings potential
Card Name
Balance transfer intro offer period
Regular APR
Balance transfer fee
Potential savings minus transfer fee
Wells Fargo Reflect Card
Up to 21 months (18 months, plus 3 months if you make on-time monthly payments during the intro period)
16.74%–28.74% variable
$165.75 (3%)
The introductory balance transfer fee for the Wells Fargo Reflect Card is 3 percent or $5 for 120 days after account opening. The fee for each qualifying balance transfer after 120 days is up to 5 percent, with a minimum of $5.
$902.25
The total savings assume you qualify for up to 21 months of promotional APR; the Wells Fargo Reflect Card offers 18 months of a 0 percent intro APR on qualifying balance transfers made within 120 days of account opening with the opportunity for a three-month extension if you make on-time monthly payments during the intro period.
Citi Simplicity Card
21 months
17.74%–28.49% variable
$165.75 (3%)
$902.25
Citi Diamond Preferred Card
21 months
16.74%– 27.49% variable
$276.25 (5%)
$791.75
Discover it Balance Transfer
18 months
14.99%–25.99% variable
$165.75 (3%)
The introductory balance transfer fee for the Discover it Balance Transfer is 3 percent of the amount of each transfer. For future transfers, the fee for each qualifying balance transfer is up to 5 percent.
$749.25
Bankrate insight
What’s the difference in cost between a 2 percent and 3 percent balance transfer fee? On a $5,000 balance, a 2 percent fee would be $100 and a 3 percent fee would be $150. The difference in cost is even more pronounced with a 5 percent balance transfer fee: $250.
Pros and cons of 0% balance transfer credit cards
Pros
Save money: You could save money on interest payments by temporarily avoiding interest on transferred debt.
Improve credit utilization ratio: Debt reduction can increase your credit utilization ratio over time, which means you’re utilizing less of your available credit.
Reduce monthly payments: The temporary break from interest on your transferred balance could translate to a lower monthly payment.
Consolidate debts: If you have multiple cards with high balances, you can simplify your debt payment process by consolidating the debt onto one card.
Cons
High credit approval threshold: The best offers with the longest 0 percent APR terms tend to be available to people with good or excellent credit.
Interest paid on remaining balance: If you don’t pay off the transfer entirely during the introductory period, the remaining balance will be subject to the new card’s regular APR.
Less attractive rewards: The main feature on most balance transfer cards is a lengthy intro APR period, though some cards do offer fairly modest cash back rewards.
Limits on transfer amounts: Balance transfer cards may limit the amount that you’re allowed to transfer and it can be difficult to know these limits until you apply for the card.
Who should get a 0% balance transfer credit card?
According to The Federal Reserve, about half of all credit card users carry a month-to-month balance. If you find yourself among this group and your current card has a high interest rate, a balance transfer credit card with an introductory 0 percent APR offer can help you address some key financial issues and save a bit on interest. However, if you have other objectives apart from merely transferring a balance, such as earning rewards, having a longer 0 percent APR period, or preferring a low interest card, these are all important factors to consider when choosing a balance transfer card.
Depending on your specific situation, we propose the following cards:
What if you’re planning on using your new balance transfer card for more than just transferring your debt? What if you plan on using it as your primary credit card? In that case, you’ll want to make sure that the card has some additional perks. For example, if you plan on making regular purchases with the card and paying off the balance each month, look for a card with:
No annual fee
A low APR on purchases and balance transfers
Low or no fees when making a late payment
A generous introductory welcome offer, such as 0 percent interest on new purchases and balance transfers for at least 12 months
The Citi Simplicity Card is a great example, as it is perfect for simple balance transfers but also has a few money-saving features that can make it more valuable, such as its long 21-month zero percent intro APR on balance transfers made within the first four months of owning the card (17.74 percent to 28.49 percent variable APR thereafter), $0 annual fee and its exclusion of late payment fees or a penalty APR.
Debt can be expensive, especially credit card debt. As of November 16, 2022, Bankrate estimates the current average interest rate on credit cards at 19.14 percent variable. Balance transfer cards such as the Bank of America Unlimited Cash Rewards Card (0 percent intro APR offer for 18 billing cycles; 16.99 percent to 26.99 percent variable APR thereafter) make it easier for you to pay off your debt faster by offering low-interest rates on new purchases and the opportunity to earn cash back while continuing to pay off existing debt.
Aside from the Bank of America Unlimited Cash Rewards Card, the best balance transfer credit cards usually come with 0 percent APR intro offers that provide a 12- to 21-month window to pay off balances. This means that you’ll be able to save money on interest charges while paying off what you owe more quickly than if you had just paid off each account individually (or not at all).
If you find yourself looking for extra time to pay off a balance but don’t want the long-term commitment of a loan, balance transfer cards such as the BankAmericard usually offer a quicker solution with the advantage of a long zero percent intro APR offer (0 percent intro APR offer on purchases and balance transfers made in the first 60 days for 21 billing cycles; 14.99 percent to 24.99 percent variable APR thereafter). This card has no annual fee, so there’s no cost associated with opening the account. It also has one of the longest intro APR period in the market with 0 percent APR for 21 billing cycles on purchases and 21 billing cycles on balance transfers made in the first 60 days (3 percent balance transfer fee, minimum $10 applies), after which there is an APR of 14.99 percent to 24.99 percent (variable).
It’s also important to note that balance transfer offers don’t last forever. These kinds of cards are best suited for people who can pay off balances before accruing extra charges when the intro offer ends.
Another option for people who plan on transferring a balance is a low APR credit card with rewards or cash back features built in. The Discover it Balance Transfer Card has 0 percent intro APR for 18 months on balance transfers (14.99 percent to 25.99 percent variable APR thereafter) and allows cardholders to earn 5 percent cash back on rotating categories each quarter (up to $1,500 in quarterly purchases after activation, then 1 percent) and 1 percent for all other purchases.
You might find that this type of credit card offers more value in the long run because it allows you to earn rewards points or cash back while still keeping your overall cost of borrowing low by allowing you to pay off your balance ahead of schedule without incurring any additional fees.
If you have multiple loans or credit cards that are charging high interest rates, it can be difficult to keep track of how much money you’re spending on interest alone. If you’re looking for a balance transfer card that will allow you to consolidate and transfer debt from multiple loans, such as student loans or car loans, as well as credit card debt, we recommend the Citi Diamond Preferred card due to its Citi Flex Loans feature. This way, you’ll have just one monthly payment to keep track of — no more multiple accounts, passwords and payment due dates.
Still unsure if a balance transfer credit card is right for you? Check out our Credit Card Spender Type Tool where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.
How to choose the best 0% balance transfer credit card
The best credit cards for balance transfers share several key features. To choose a balance transfer credit card that fits your unique financial situation, consider the following four questions:
Does the card offer an introductory APR?
If you think you’ll need a 0 percent introductory APR period in addition to a low balance transfer fee, consider a credit card with a zero-interest offer for balance transfers and purchases. While the promotional APR is in effect, be mindful that charging a new purchase you can’t readily pay off might make it harder to pay off the transferred balance.
What are the card’s fees?
To learn more about the card’s fees, the terms and conditions will include details such as the balance transfer fee, late payment penalties, how much time you have to transfer the balance to qualify for the introductory offer and what happens when your 0 percent intro APR period ends. If you have trouble finding the information you’re looking for, call the issuer or visit its website.
What are your approval odds?
Like any other credit card application, a balance transfer card application will result in either approval or denial. If you’re denied a balance transfer card, you may be concerned about the short-term effects on your credit score. Consider if it’s worth applying and undergoing a hard credit pull if you are unsure of your approval chances. Learn more: Why Approval Odds are your key to a successful credit card application
Does the card have long-term value?
Some of the best balance transfer cards offer general benefits to cardholders, such as extended warranties on purchases and identity theft protection services, as well as rewards programs that can help offset interest payments or provide additional discounts or savings on purchases. If you want to use your card for daily purchases like gas or groceries, you may be able to earn points or miles that may be redeemed for gift cards, statement credits or more.
You can search for preapproval options using tools like CardMatch™ by Bankrate and get a glimpse of what you could feasibly be approved for without the consequences of a hard credit pull.
How to do a balance transfer
You don’t have to be an expert in personal finance to understand the balance transfer process. It’s essentially a matter of moving debt from one credit account to another. The main things to know are:
Apply for and open a balance transfer card: As is the case with any credit card option, you’ll first need to apply for a balance transfer card and be approved. Balance transfer cards are most attainable with a good to excellent credit score.
Know how much time you have: Once you’ve applied for and received a balance transfer card, you have a certain period of time in which you can make transfers that qualify for the zero-interest offer.
Initiate the transfer: Most issuers will have a process online or in the mobile app that allows you to make balance transfer requests. You’ll need account and credit card numbers handy to start the process.
Look for confirmation: The issuer of your balance transfer card will notify you when the transfer is completed, but always check your other account(s) and keep making payments on your previous card(s) until it’s done. Timelines for processing balance transfers vary from issuer to issuer. In some cases, it could take 7 to 10 days to complete. In some cases, it could take a couple of weeks — or even as long as a month.
Continue to keep the old card’s account open: In general, it’s ideal to leave older credit card accounts active. That’s because canceling them may lower your credit score and reduce your available credit, giving the impression that your utilization rate, or debt-to-credit ratio, has suddenly increased. It will also support you in increasing the average age of your credit history, which is a key factor in establishing creditworthiness.
Balance transfer guides by credit card issuer
If you want to do a balance transfer with a specific bank or card issuer, Bankrate has detailed guides from the following financial companies:
If you have questions at any point in the process, contact a customer service representative for help. It’s your money, after all, so you’ll want to get everything right.
How to maximize your 0% balance transfer card
Try to only use your balance transfer credit card to handle debts. Unless your balance transfer card also has an intro APR offer on purchases, it’s best to use one card to primarily aid in paying down your debts and a different card to handle small purchases that you can pay off immediately (and potentially earn rewards on).
Initiate your transfer quickly. Some cards on the market have a window of time within which you must initiate transferring a credit card balance to receive the full benefits of the intro offer.
Always pay on time and more than the minimum amount due whenever possible. To expedite paying down debt and take even further advantage of a balance transfer card’s intro APR offer, it’s always a great practice to pay more than the minimum amount due when you can in addition to paying on time, every time.
Make a strategic plan to tackle your debt. Understand how much debt you owe, how long you want to take to pay it off and how your balance transfer card can help you manage your debt. As a general rule of thumb, try to make your pay-off timeline match up with the balance transfer card’s intro APR period.
What’s the longest 0% balance transfer offer?
Currently, the longest 0% intro APR offers on the market are up to 21 months, offered by the Wells Fargo Reflect, Citi Diamond Preferred and Citi Simplicity cards. Although any temporary break from credit card APR is beneficial, a longer intro offer will give you the best opportunity to avoid interest as you pay off your transferred balance. The chart below shows the top three cards with the longest intro APR offers.
Balance transfer credit card
0% intro APR offer
Transfer a balance by October 31, 2022 and avoid regular APR until:
Citi Diamond Preferred Card
21 months (16.74%–27.49% variable after)
August 2024
Citi Simplicity Card
21 months (17.74%–28.74% variable after)
August 2024
Wells Fargo Reflect Card
Up to 21 months (18 months, plus 3 months if you make on-time monthly payments during the intro period, then 16.74%–28.74% variable after)
At least May 2024
Alternatives to a balance transfer card
Transferring a credit card balance to a balance transfer card is one of the best ways to pay off debt and save money, but there are other ways to manage your debt that don’t involve a balance transfer card. Here are a few options to consider:
Find out if you can qualify for a reduced interest rate: Your credit score may have improved since you opened the account, so requesting a reduced interest rate from your issuer may be beneficial. You might be able to get some points deducted from your rate or have your account transferred to a lower-interest card.
Pay more than the minimum due using a debt repayment calculator: The minimum monthly payment is the absolute least you can pay without penalty — but you won’t get far paying off your debt that way. Using a debt payment calculator, you can figure out how much interest you could save if you paid off your credit card balance without transferring. You need to pay interest on less money to see actual savings, so by paying more than the minimum, you can reduce the principal balance.
Take advantage of a personal loan or debt consolidation loan: A personal loan can help you pay off your high-interest debt, but it’s critical to remember that a personal loan only makes sense if the interest rate is lower than the interest on your credit card debt. You can get a loan from a bank, credit union or online lender, and you may even be able to pay your creditors directly with some loans designed for debt consolidation.
Bankrate insight
If you’re trying to pay off credit card debt, your first thought might be to do a balance transfer to take advantage of a 0 percent APR offer, but if you don’t qualify for any of the few balance transfer card offers available right now, there are still plenty of alternative options to consider; ranging from using Affirm or Klarna to pay on small purchases to applying for a personal loan. It’s important to work on improving your credit score before applying for a balance transfer card, so we recommend making the most of any opportunity to pay down debt – whether that’s by applying for a balance transfer card or opting for an alternative option.
Expert take: Balance transfer offers are heating up
How we chose our best balance transfer cards
Bankrate writers and editors have evaluated dozens of options to determine which cards are most likely to help you achieve your financial goals with a balance transfer. In this category, our 5-star scoring system pays particular attention to the essential features of a balance transfer credit card, including:
0% introductory APR offer
Balance transfer cards should ideally have a long 0% APR introductory offer — between 12 and 18 months, if not longer. You’ll have more time to pay off the transferred balance before the regular APR takes effect.
Regular variable APR
Regular variable APR is the interest rate that you will be charged after the introductory 0% APR period. Ideally, the low end of the variable APR range should be at least a few points below 16% with a high end no more than 26%.
Balance transfer fee
The best balance transfer credit cards will charge a low fee on transferred balances, or even no fee at all. If you have an excellent credit score, consider asking to have the fee lowered or waived.
More information on balance transfer credit cards
Want to know more about transferring balances to a credit card? Here’s a list of our top resources from Bankrate’s personal finance experts:
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Frequently asked questions about balance transfer credit cards
The Credit CARD Act of 2009 requires introductory offers to be at least 6 months long, but offer periods can run as long as 21 months. The average falls around 15 months.
A balance transfer allows you to transfer a credit card balance from one credit account to another to help you pay off debt, whereas a 0 percent APR offer gives you time to pay down debt without accruing interest. However, there is often an overlap as many 0 percent intro APR cards offer an interest-free period for both new purchases and balance transfers.
There are a few factors that could cause you to experience a temporary dip in your credit score after you complete a balance transfer. Applying for a new credit card usually involves a hard inquiry, and opening a new card shortens your average account age. Also, if you apply for a lot of new accounts in a short amount of time or close an account as soon as the balance is transferred, then this can negatively affect your score as well.
However, as long as you pay down the balance on time every month and keep your debt-to-credit ratio low overall, your credit score won't be affected. But if you get a balance transfer card with a really high APR, or if you don't pay down your balance every month, then that could potentially affect your credit history.
You might be able to get a balance transfer card with bad credit, but most balance transfer cards require good or excellent credit in order to be approved for them. While there are some that do accept applicants with less-than-stellar credit, they typically come with higher interest rates and fees than those with better scores.
If you have fair or average credit with a mix of late payments and other dings on your report, then it might be best to apply for a secured card instead. Secured cards are designed specifically for people who may be new to credit or have had trouble managing their accounts in the past. They require an upfront deposit (usually between $200-$500) which acts as collateral on any balance you carry over from month to month.
Yes, but transferring balances multiple times can quickly deplete your available credit and increase your overall debt-to-credit ratio since you're only moving the debt and not paying it off. That makes it harder for you to get approved for future credit and can cause your interest rates to rise as well. If you are in a position where you need to transfer your credit card balance more than once, then you should consider alternative options before doing so.
Depending on the issuer, you could transfer auto, student or payday loan balances to a credit card. This means that if you have a personal loan and need more time to pay it off, you can use your new balance transfer credit card to pay down the loan.
Most issuers won’t allow transfers from existing accounts with the same issuer, but some allow transfers of multiple debts to one card. You'll also want to check with your creditors to see if they have any restrictions or fees associated with transferring the balance over to another creditor.
Contact the issuer to resolve the issue. Getting denied for a balance transfer can mean anything from transferring amounts higher than your credit limit to attempting to transfer a credit card balance owed to the same issuer.
Former Senior Editor Barry Bridges has been writing about credit cards, personal loans, mortgages and other personal finance products since 2017. Before joining Bankrate, he was an award-winning newspaper journalist in his native North Carolina.
Mariah Ackary is a personal finance editor who joined the Bankrate team in 2019, excited by the opportunity to help people make good financial decisions. Send your questions to mackary@bankrate.com
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