At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to:
At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states were it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
A 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% APR offers lasting 12 to 21 months, giving you an opportunity to avoid paying APR on a transfer until 2022 — or even 2023. You can see how it works with our Credit Card Balance Transfer Calculator and Credit Card Payoff Calculator.
| Card name | Bankrate’s pick for | Balance transfer intro APR period | Regular APR |
|---|---|---|---|
| Wells Fargo Reflect Card | Intro APR | Up to 21 months (18 months, plus up to 3 months if you make on-time monthly payments while the intro offer is active) | 12.99% – 24.99% variable |
| U.S. Bank Visa Platinum Card | Best for long intro APR period | 0% intro APR for 20 billing cycles for balance transfers made in the first 60 days | 14.49% – 24.49% variable |
| Discover it Balance Transfer | Rotating category cash back | 18 months | 11.99% – 22.99% variable |
| Citi Diamond Preferred Card | Excellent credit | 21 months | 13.74% – 23.74% variable |
| BankAmericard credit card | No penalty APR | 0% intro APR for 18 billing cycles for any balance transfers made in the first 60 days | 12.99% – 22.99% variable |
| Citi Double Cash Card | Up to 2% cash back | 18 months | 13.99% – 23.99% variable |
| Citi Simplicity Card | No late fee | 21 months | 14.74% – 24.74% variable |
| Wells Fargo Active Cash Card | Best for 2% cash rewards | 15 months | 14.99%-24.99% variable |
| Citi Custom Cash Card | Automatic bonus category | 15 months | 13.99% – 23.99% variable |
| Bank of America Customized Cash Rewards credit card | Flexible rewards categories | 0% intro APR for 15 billing cycles for any balance transfers made in the first 60 days | 13.99% – 23.99% variable |
| Bank of America Unlimited Cash Rewards credit card | Best for unlimited 1.5% cash back | 15 billing cycles for any balance transfers made in the first 60 days | 13.99% – 23.99% variable |
Read our full Wells Fargo Reflect Card review.
Jump back to offer details.
Read our full U.S. Bank Visa Platinum Card review.
Jump back to offer details.
Read our full Discover it Balance Transfer review.
Jump back to offer details.
Read our full Citi Diamond Preferred Card review.
Jump back to offer details.
Read our full BankAmericard credit card review.
Jump back to offer details.
Read our full Citi Double Cash Card review.
Jump back to offer details.
Best for no late fee
Read our full Citi Simplicity Card review.
Jump back to offer details.
Read our full Wells Fargo Active Cash Card review.
Jump back to offer details.
Read our full Citi Custom Cash Card review.
Jump back to offer details.
Read our full Bank of America Customized Cash Rewards credit card review.
Jump back to offer details.
Read our full Bank of America Unlimited Cash Rewards credit card review.
Jump back to offer details.
A balance transfer involves moving debt from one credit account to a different account, typically by using a balance transfer credit card that has a lower interest rate than the original account. A balance transfer card can help you pay off debt by transferring your existing balance to a new credit card with a 0% intro APR period. During that time, you have the chance to pay off the principal without having to pay interest.
Although balance transfers are primarily used for credit card debt, each issuer has its own rules for what types of debt you can transfer. Depending on the issuer, your balance transfer options could include:
However, most issuers will not let you transfer a balance from an existing account with that same issuer. Also, some issuers let you transfer multiple debts to one balance transfer card, a form of debt consolidation.
According to The Federal Reserve, about half of all credit card users carry a balance month to month. 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:
If you’re paying down a large balance, a 0% intro offer could save you several hundred dollars or more.
Experian reports that the average credit card balance reached $5,315 in 2020. Here’s how much you could save by transferring $5,315 in debt to one of our best balance transfer credit cards, based on the following conditions:
| Card Name | Balance transfer intro offer period | Regular APR | Balance transfer fee | Potential savings minus transfer fee |
|---|---|---|---|---|
| Discover it Balance Transfer | 18 months | 11.99% to 22.99% variable | $159.45 (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.
|
$720.55 |
| Citi Diamond Preferred Card | 21 months | 13.74% – 23.74% variable | $265.75 (5%) | $762.25 |
| BankAmericard credit card | 18 billing cycles (on any transfers made in first 60 days) | 12.99% – 22.99% variable | $159.45 (3%) | $720.55 |
| Wells Fargo Reflect Card | Up to 21 months (18 months, plus up to 3 months if you make on-time monthly payments while the intro offer is active) | 12.99% – 24.99% variable | $159.45 (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.
|
$868.55
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 an up to three-month extension if you make on-time monthly payments while the intro offer is active.
|
| U.S. Bank Visa Platinum Card | 20 billing cycles (on transfers made in first 60 days) | 14.49% – 24.49% variable | $159.45 (3%) | $818.55 |
| Wells Fargo Active Cash Card | 15 months for qualifying transfers from account opening | 14.99%-24.99% variable | $159.45 (3%)
The introductory balance transfer fee for the Wells Fargo Active Cash 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.
|
$575.55 |
| Citi Custom Cash Card | 15 months | 13.99% – 23.99% variable | $265.75 (5%) | $469.25 |
| Citi Simplicity Card | 21 months | 14.74% – 24.74% variable | $265.75 (5%) | $762.25 |
| Citi Double Cash Card | 18 months | 13.99% – 23.99% variable | $159.45 (3%)
The introductory balance transfer fee for the Citi Double Cash Card is 3 percent or $5, whichever is greater, for transfers completed within the first four months of account opening. A balance transfer fee of 5 percent of each transfer ($5 minimum) applies if completed after four months of account opening.
|
$720.55 |
| Bank of America Customized Cash Rewards credit card | 15 billing cycles (on any transfers made in first 60 days) | 13.99% – 23.99% variable | $159.45 (3%) | $575.55 |
| Bank of America Unlimited Cash Rewards credit card | 15 months | 13.99% – 23.99% variable | $159.45 (3%) | $575.55 |
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 questions:
Some balance transfer cards tout a promotional APR on purchases; many do not. If you suspect you’ll need a promotional APR on purchases, in addition to a low balance transfer fee, look for a zero interest credit card with an offer that extends to both balance transfers and purchases. Keep in mind, however, that charging a new purchase you can’t readily pay off could make it harder to pay off the transferred balance while the promotional APR is in effect.
The longer a promotional offer lasts, the more time you’ll have to pay down your transferred debt. A longer introductory period also translates to smaller monthly payments. Every month of temporary relief from interest represents potential savings.
You’ll find essential details in the card’s terms and conditions, including the balance transfer fee, penalties for late payments and how much time you’ll have to transfer the balance to qualify for the introductory offer. These terms and conditions will also note 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 go to their website.
Before going through with a balance transfer be sure to arm yourself with all the needed information. Review your current credit card balance and interest rates to determine if the card you’re looking into is appropriate for your balance transfer. The limit for balance transfer cards depends on the card, the issuer and specific aspects of your financial situation.
Typically, issuers will let you transfer a balance (plus fees) that is no higher than your credit limit. If you want to make a balance transfer that exceeds your credit limit, you’ll have to ask the issuer for an increase. A Bankrate poll found that only 18 percent of cardholders requested a credit limit increase in 2020, but 70 percent of those who asked did receive a higher limit.
Applying for a balance transfer card, like applying for any other credit card, will result in either an approval or denial of your application. You may be considering applying for a balance transfer card, but are leery of the short-term effects on your credit score if you’re denied.
You can search for pre-approval 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?
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:
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.
Nowadays, 21 months, 20 months and 18 months are the gold, silver and bronze standards for 0% intro APR offers with balance transfer credit cards. A number of cards offer 15 months at an introductory zero-interest rate, while others fall into the 12-month range.
Although any temporary break from credit card APR is beneficial, a more lengthy intro offer will give you the best opportunity to avoid interest as you pay off your transferred balance.
Here’s a look at some of the longest 0 percent intro APR offers currently available:
| Balance transfer credit card | 0% intro APR offer | Transfer a balance by November 30, 2021 and avoid regular APR until: |
|---|---|---|
| Discover it Balance Transfer | 18 months (11.99% – 22.99% variable after) | May 31, 2023 |
| Citi Diamond Preferred Card | 21 months (13.74% – 23.74% variable after) | August 31, 2023 |
| BankAmericard credit card | 18 billing cycles on any balance transfers made in first 60 days (12.99% – 22.99% variable after) | May 31, 2023 |
| Wells Fargo Reflect Card | Up to 21 months (18 months, plus up to 3 months if you make on-time monthly payments while the intro offer is active) | At least May 31, 2023 |
| U.S. Bank Visa Platinum Card | 20 billing cycles on balance transfers made in first 60 days (14.49% – 24.49% variable after) | July 30, 2023 |
| Wells Fargo Active Cash Card | 15 months on qualifying transfers from account opening (14.99% – 24.99% variable after) | February 28, 2023 |
| Citi Custom Cash Card | 15 months from date of first transfer (13.99% – 23.99% variable after) | February 28, 2023 |
| Citi Simplicity Card | 21 months (14.74% – 24.74% variable after) | August 31, 2023 |
| Citi Double Cash Card | 18 months (13.99% – 23.99% variable after) | May 31, 2023 |
| Bank of America Customized Cash Rewards credit card | 15 billing cycles on any balance transfers made in first 60 days (13.99% – 23.99% variable after) | February 28, 2023 |
| Bank of America Unlimited Cash Rewards credit card | 15 billing cycles for any balance transfers made in the first 60 days (13.99% – 23.99% variable after) | February 28, 2023 |
*Terms and Restrictions Apply
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:
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 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%.
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.
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:
If you want to do a balance transfer with a specific bank or card issuer, Bankrate has detailed guides from the following financial companies:
Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate.
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
