Best balance transfer credit cards: 0% intro APR for 12–21 months

Compare Bankrate’s best balance transfer credit cards

A closer look at Bankrate’s top balance transfer cards

Wells Fargo Reflect Card: Best for intro APR

• 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, as the intro APR offers are top-notch and among the longest promotional APR offers currently available.
• Who this card is good for: People who need an extra-long window to pay off a balance transfer.
• Alternatives: The Chase Freedom Unlimited Card is ideal for anyone ready to forego a longer introductory APR period in exchange for the opportunity to receive cash back rewards.

Read our full Wells Fargo Reflect Card review.
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U.S. Bank Visa Platinum Card: Best for long intro APR period on purchases and balance transfers

• What we love about the U.S Bank Visa Platinum Card: The length of this card’s intro APR period is relatively rare and the balance transfer fee is on the lower side of the standard when paired with the intro APR length.
• Who this card is good for: Anyone who wants to potentially finance a large purchase and transfer a balance to reduce debt.
• Alternatives: If you want to earn rewards with a credit card after a balance transfer, the Citi Double Cash Card promises a potent combination of short-term and long-term value – so you might be tempted to keep it well after the balance transfer offer expires.

Read our full U.S. Bank Visa Platinum Card review.
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Citi Diamond Preferred Card: Best for good to 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).
• Who this card is good for: Someone interested in a simple but effective method of temporarily avoiding interest on a balance transfer or purchase.
• Alternatives: The Capital One SavorOne Cash Rewards Credit Card is ideal for anybody looking for additional benefits such as rewards programs or premium perks.

Read our full Citi Diamond Preferred Card review.
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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 consumer-friendly terms.
• 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.

Read our full Discover it Balance Transfer review.
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BankAmericard credit card: Best for no penalty 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.
• Who this card is good for: Someone who wants the assurance of a lengthy introductory offer without the prospect of a penalty APR looming over them.
• Alternatives: The Citi Simplicity Card may be the ideal solution for anybody looking to avoid an annual fee, penalty APR, and late penalties altogether.

Read our full BankAmericard credit card review.
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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 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. There are no foreign transaction fees and an intro APR offer on purchases.
• Alternatives: The Bank of America Customized Cash Rewards Card may better match someone looking to earn high rewards rates with bonus categories.

Read our full Capital One Quicksilver Cash Rewards Credit Card review.
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Citi Double Cash Card: Best for good credit

• What we love about the Citi Double Cash Card: With the Citi Double Cash, you’ll earn 1 percent cash back on every purchase and another 1 percent (2 percent total) when you pay for those purchases.
• Who this card is good for: Anyone who wants a card with lengthy introductory offers on balance transfers plus a cash back program.
• Alternatives: The Double Cash currently doesn’t offer an introductory offer on new purchases, so shoppers looking for a temporary break from interest may find the U.S. Bank Visa Platinum Card to be a better fit.

Read our full Citi Double Cash Card review.
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Citi Simplicity Card: Best for no late fee

• 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 are temporarily avoiding interest on a balance transfer for an extended period and do not want to pay late fees or annual fees.
• Alternatives: If you’re more interested in a cash back rewards card for everyday use, the Blue Cash Preferred® Card from American Express could provide better long-term value.

Read our full Citi Simplicity Card review.
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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 introductory APR offer. 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.

Read our full Wells Fargo Active Cash Card review.
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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 an intro offer on balance transfers. Plus, cardholders can get special entry rates into Capital One’s new airport lounges with this card.
• Who this card is good for: People who want a low-cost travel card that’s fairly well-rounded.
• Alternatives: Anyone looking for the luxury perks and benefits that come with higher-cost travel credit cards may prefer the Chase Sapphire Reserve Card.

Read our full Capital One VentureOne Rewards Credit Card review.
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Citi Custom Cash Card: Best for automatic bonus category

• What we love about the Citi Custom Cash Card: Some bonus-rate cards involve rotating categories that you’re required to activate every quarter. With this card, your top spending category is 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 can help increase potential interest savings.

Read our full Citi Custom Cash Card review.
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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 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 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 may find more value with the Discover it® Cash Back.

Read our full Bank of America Unlimited Cash Rewards credit card review.
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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 cash back potential, as not many cards offer the opportunity to choose a 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.
• Alternatives: People who just want to take advantage of an introductory APR offer and have no interest in pursuing rewards may want to consider the Citi Diamond Preferred Card.

Read our full Bank of America Customized Cash Rewards credit card review.
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What is a balance transfer credit card?

A balance transfer credit card can help you pay off 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.

What is a balance transfer fee?

A balance transfer fee provides compensation to 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.

Want to learn more? Read our full guide on how balance transfer credit cards work.

Pros and cons of balance transfer credit cards

Who should get a 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. A balance transfer card is worth considering for the following people:

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  The debt reducer

  If you want to pay down credit card debt and avoid added interest costs, a solid balance transfer card may work well for you. Debt can be expensive, especially credit card debt. As of June 29, 2022, Bankrate estimates the current average interest rate on credit cards at 16.91 percent variable. The best balance transfer credit cards come with 0 percent APR intro offers that provide a 12- to 21-month window to pay off balances.

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  The quick payer

  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 usually offer a quicker solution along with the advantage of 0 percent intro APR offers. It’s also important to note that balance transfer offers don’t last forever and these kinds of cards are best suited for people who can pay off balances before accruing extra charges when the intro offer ends.

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  The consolidator

  If you like to keep all your ducks in one place, consider transferring multiple balances to one balance transfer credit card. This way, you’ll have just one monthly payment to keep track of—no more multiple accounts, passwords and payment due dates.

How to choose the best balance transfer credit card

The best credit cards for balance transfers share a number of key features. To find the one that’s best for you and your unique financial situation, consider the following three questions:

1. 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 both 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.
2. What are the card’s terms and conditions? The card’s 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.
3. What are your approval odds? A balance transfer card application, like any other credit 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.
4. 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.

Still not sure if a balance transfer is the right move? Read the full story: Is a balance transfer a good idea?

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:

1. 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.
2. 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.
3. 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.
4. 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.
5. Consider keeping your old card open: Doing so could improve your credit utilization rate and, as such, your credit score. However, if you’re afraid that you’ll just run up another balance or if the card has a high annual fee you can no longer justify paying, it may be in your best interest to close the account.
6. Call for help: 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.

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 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 your balance transfer 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.

How much money could you save with a balance transfer?

If you’re paying down a large balance, a 0 percent intro offer could save you several hundred dollars or more.

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 $5,525 in debt 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 card

What’s the longest 0% APR balance transfer offer?

Currently, the longest 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.

*Terms and Restrictions Apply

How long is the average balance transfer offer?

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.

Alternatives to a balance transfer card

Using balance transfer credit cards 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:

1. 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.
2. 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. By using a debt payment calculator, you can figure out how much interest you could save if you paid off your credit card balance without having to transfer. 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.
3. 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.

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:

• Average credit card debt in the U.S.
• Carrying a credit card balance for the first time

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:

• How to do a balance transfer with American Express
• How to do a balance transfer with Bank of America
• How to do a balance transfer with Chase
• How to do a balance transfer with Citi
• How to do a balance transfer with Wells Fargo

Video guide: What you should know about balance transfer credit cards

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