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

Compare the best credit cards for balance transfers

A closer look at Bankrate’s best balance transfer cards

Discover it Balance Transfer

Best for rotating category cash back

• This card is best for: Someone who needs to pay down existing credit card debt in the short term, but wants to earn rewards for the long term.
• This card is not a great choice for: People who are looking for a low maintenance rewards program, as you’ll need to enroll each quarter to earn your 5 percent bonus cash back (on rotating categories each quarter when you activate, up to $1,500 in combined purchases, then 1 percent) and you’ll need to pay attention to applicable categories to maximize your spend. You might also want to avoid this card if you fear the opportunity to earn cash back will entice you to overspend.
• What makes this card unique? The competitive base rewards, generous welcome offer and consumer-friendly terms make this a decidedly well-rounded balance transfer credit card.
• Is the Discover it Balance Transfer worth it? This is a solid balance transfer offer, and, for disciplined spenders, the rewards program could prove to be a boon in the long term.

Read our full Discover it Balance Transfer review.
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Wells Fargo Reflect Card

Best for intro APR

• This card is best for: If you need an extra-long window to pay off a balance transfer, this card can give you the most breathing room.
• This card is not a great choice for: Anyone who is looking to skip a balance transfer fee entirely or who can’t transfer a balance within 120 days of account opening to qualify for the intro 3 percent balance transfer fee.
• What makes this card unique? The intro APR offers are top-notch. Cardholders can secure a 0 percent intro APR on purchases for 18 months from account opening (up to 21 months from account opening with on-time payments, then 12.99 percent to 24.99 percent variable APR). They’re also eligible for a 0 percent intro APR for 18 months from account opening on qualifying balance transfers made within 120 days of account opening (up to 21 months on qualifying balance transfers made within 120 days of account opening with on-time payments, then then 12.99 percent to 24.99 percent variable APR). Those are among the longest promotional APR offers currently on the market.
• Is the Wells Fargo Reflect Card worth it? We consider this card a prime pick for people in the market for a balance transfer, given the length of its intro APR period. In this case, the lack of a traditional rewards program could be a boon as it allows you to focus on paying off your debts.

Read our full Wells Fargo Reflect Card review.
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U.S. Bank Visa Platinum Card

Best for long intro APR period

• This card is best for: Anyone who needs a significant amount of time to pay down a card balance. This card boasts one of the longer intro APR periods on purchases and balance transfers on the market.
• This card is not a great choice for: Someone looking to earn extra rewards like cash back in the long term.
• What makes this card unique? 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.
• Is the U.S. Bank Visa Platinum Card worth it? The value of this card is strongly based on the amount of time you need to pay down your balance. If you need more time, this card is one of the best out there. If you don’t need as much time or ultimately want to cash in on rewards, another card may be a better fit.

Read our full U.S. Bank Visa Platinum Card review.
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BankAmericard credit card

Best for no penalty APR

• This card is best for: Someone who wants the assurance of a lengthy introductory offer without the prospect of a penalty APR looming over them.
• This card is not a great choice for: Anyone who incorrectly assumes that “no penalty APR” means “no consequences.” You might be subject to a flat late fee for missing an on-time payment on this card, not to mention the fact that late payments of any kind can also do a number on your credit score.
• What makes this card unique? Although the BankAmericard doesn’t have a standard rewards program, you might be able to earn cash back through BankAmeriDeals if your card is eligible.
• Is the BankAmericard credit card worth it? If you’re committed to paying off a balance transfer during the introductory period, this card might be worth a look. Just don’t let the lack of penalty APR let you get complacent about making payments on time and in full.

Read our full BankAmericard credit card review.
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Citi Diamond Preferred Card

Best for good to excellent credit

• This card is best for: Someone interested in a simple but effective method of temporarily avoiding interest on a balance transfer or purchase.
• This card is not a great choice for: Anyone looking for benefits such as rewards programs or premium perks.
• What makes this card unique? The promotional APR on balance transfers made within the first four months of account opening lasts 21 months, one of the longest periods currently on the market. 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. Also, taking out additional loans could be risky if you’re already doing a balance transfer.
• Is the Citi Diamond Preferred Card worth it? This is a straightforward credit card. It might not do the most things, but it does the main thing — giving you a chance at a temporary break from incurring interest on purchases and balance transfers — quite well.

Read our full Citi Diamond Preferred Card review.
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Wells Fargo Active Cash Card

Best for 2% cash rewards

• This card is best for: Anyone looking for a card that has both a 0 percent intro APR offer for qualifying balance transfers and purchases from account opening, as well as an exceptional cash rewards program.
• This card is not a great choice for: People who make the length of the introductory offer the top priority. This card offers 15 months at an introductory 0 percent APR (followed by 14.99 percent to 24.99 percent variable APR) on qualifying balance transfers from account opening and purchases from account opening, which is average.
• What makes this card unique? Cards that earn unlimited 2 percent cash rewards on purchases are rare, but a card that also has introductory APR offers is rarer still.
• Is the Wells Fargo Active Cash Card worth it? Although a 15-month window to avoid APR is fairly run-of-the-mill, the potential long-term value for cash rewards could more than make up for the length of the intro offer.

Read our full Wells Fargo Active Cash Card review.
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Citi Double Cash Card

Best for up to 2% cash back

• This card is best for: Anyone looking for a card with lengthy introductory offers on balance transfers plus a cash back program.
• This card is not a great choice for: Shoppers looking for a temporary break from interest. The card currently doesn’t have an introductory offer on new purchases.
• What makes this card unique? The Citi Double Cash Card offers an inventive cash back rewards program. You’ll earn 1 percent cash back on every purchase and another 1 percent (2 percent total) when you pay for those purchases.
• Is the Citi Double Cash Card worth it? The balance transfer offer and the cash back rewards promise a potent combination of short-term and long-term value. You might be tempted to keep it well after the balance transfer offer expires.

Read our full Citi Double Cash Card review.
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Citi Custom Cash Card

Best for automatic bonus category

• This card is best 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).
• This card is not a great choice for: Those concerned about paying a balance transfer fee higher than the typical 3 percent. This card’s fee is 5 percent of the amount being transferred ($5 minimum), which could take a larger bite out of your potential interest savings.
• What makes this card unique? Some bonus-rate cards involve rotating categories that you’re required to activate every quarter. With this card, your bonus category is determined by where you spend the most each billing cycle.
• Is the Citi Custom Cash Card worth it? The length of the balance transfer offer is standard but not spectacular, and the balance transfer fee might be a concern. The Citi Custom Cash is serviceable as a balance transfer card, but the main feature is the innovative cash back program.

Read our full Citi Custom Cash Card review.
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Citi Simplicity Card

Best for no late fee

• This card is best for: People with two goals in mind: temporarily avoiding interest on a balance transfer for an extended period and not having to pay late fees or annual fees.
• This card is not a great choice for: Anyone interested in a card for everyday use. The balance transfer offer is this card’s main appeal, since it doesn’t have a rewards program that earns cash back or points. There is a promotional APR on purchases, but it’s not particularly lengthy (0 percent intro APR for 12 months, then 14.74 percent to 24.74 percent variable APR).
• What makes this card unique? Citi cardholders enjoy a solid array of security benefits, including Citi® Identity Theft Solutions and Citi® Quick Lock. If you’re looking to manage debt with a balance transfer, you might also appreciate features designed to protect you from fraudulent threats to your credit score.
• Is the Citi Simplicity Card worth it? What it lacks in flash, this card makes up for with its potential to help you pay off debt via its intro promotional APR. The lack of late fees and annual fees adds to its value.

Read our full Citi Simplicity Card review.
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Bank of America Customized Cash Rewards credit card

Best for flexible rewards categories

• This card is best for: Frequent shoppers looking to match their spending habits with plus-rate cash back categories — but ideally, without letting it affect their responsible use of the introductory offer.
• This card is not a great choice for: People who just want to take advantage of an introductory APR offer and have no interest in pursuing rewards.
• What makes this card unique? Not many cards offer the opportunity to choose a rewards category. The Customized Cash Rewards card lets you earn 3 percent cash back in one of six categories — travel, gas, dining, online shopping, drug stores or home improvement/furnishings — and 2 percent on grocery store/wholesale club purchases each quarter (on the first $2,500 in combined choice category/grocery store/wholesale club purchases, then 1 percent).
• Is the Bank of America Customized Cash Rewards credit card worth it? There’s a lot of cash back potential with this card, if your spending habits are in line with the categories. Just remember that the introductory offer is a temporary break from interest charges, not a license to spend.

Read our full Bank of America Customized Cash Rewards credit card review.
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Bank of America Unlimited Cash Rewards credit card

Best for unlimited 1.5% cash back

• This card is best for: Those seeking unlimited, uncomplicated cash back that never expires.
• This card is not a great choice for: Cash back maximizers who don’t mind keeping track of a few bonus categories to earn a higher rewards rate.
• What makes this card unique? Bank of America Preferred Rewards members earn 25 percent – 75 percent more cash back (based on your enrolled tier). That means Preferred Rewards members could earn a maximum of up to 2.62 percent cash back on every purchase.
• Is the Bank of America Unlimited Cash Rewards credit card worth it? If you’re a Preferred Rewards member, the boosted rewards rate makes this card a no-brainer. Otherwise, a flat rate of 1.5 percent cash back is becoming less competitive in the cash back market. But it’s still a solid rate, especially because it’s paired with a good balance transfer offer.

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

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:

• Credit card balances
• Auto loans
• Personal loans
• Student loans
• Payday loans

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.

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 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:

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 Nov. 23, 2021, Bankrate estimates the current average interest rate on credit cards at 16.32 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.




The quick payer

While balance transfer offers are commonly measured in months, the typical loan is an arrangement that lasts for years. If you find yourself looking for extra time to pay off a balance but you don’t want the long-term commitment of a loan, balance transfer cards usually offer a quicker solution along with the advantage of 0% intro APR offers. Although loans do have their benefits, they’re best-suited for very large debts that exceed the normal limit for balance transfers.




The financial wellness seeker

A balance transfer card can help you pay down debt more quickly since you won’t be accruing interest during your intro period. Paying debt down more quickly will expedite an improvement to your credit utilization ratio. Your credit utilization ratio represents how much available credit you have compared with how much you’re using. The amount of debt you owe accounts for 30 percent of your FICO credit score. As such, when leveraged correctly, a balance transfer credit card can help you achieve two important financial goals: paying down debt and improving your credit score.




The consolidator

If you like to keep all your ducks in a row and 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.




The emergency spender

If you ever need to make an emergency purchase, first consider a card offering promotional interest on purchases. However, if you have made that purchase already and didn’t have time to find favorable financing, a balance transfer credit card with a zero interest or low interest promotional APR offer could help you save money as you pay back that expense.

How much money could you save with a balance transfer?

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:

• That you would pay the balance transfer fee upfront and pay off a $5,315 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% APR (using our Credit Card Payoff Calculator), minus the balance transfer fee.

Example savings by credit card

How to choose a 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 questions:

Does the card offer an introductory APR?

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.

What are the card’s terms and conditions?

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.

What is the balance transfer limit?

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.

Is it worth applying for a balance transfer card (and the card credit pull) if you’re unsure you’ll get approved?

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?

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. Consider keeping your old card open, especially in the short-term: 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.
2. Know how much time you have: Once you’ve applied for and received a balance transfer card, you’ll have a certain period of time (spelled out in the card’s terms and conditions) when you can make transfers that qualify for the zero-interest offer.
3. Initiate the transfer: Most issuers will have a process online or in their mobile app that allows you to make balance transfer requests. Depending on the issuer, you might be able to make the request by phone.
4. Provide your account info: You’ll need to give the issuer the account numbers of the card or loan accounts you want to transfer balances from.
5. Follow the issuer’s instructions: If you request your balance transfer online, your card issuer’s website will take you through a step-by-step process where you’ll select options and enter information on a series of screens.
6. Look for confirmation: The issuer of your balance transfer card will notify you when the transfer is approved, but always check your other account(s) to make sure the new balance reflects the amount you’ve transferred. Pending charges made before you initiated the transfer will still show up.

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.

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

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:

*Terms and Restrictions Apply

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).
• Always pay on time and pay over the minimum amount due whenever possible. To expedite the process of paying down debt and to take even further advantage of a balance transfer card’s intro APR offer, it’s always a great practice to pay over the minimum amount due when you can in addition to paying on time, every time.
• Make a strategic plan to tackle your debt. Be fully aware of 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 over that timeframe. As a general rule of thumb, try to make your pay-off timeline match up with the balance transfer card’s intro APR period.

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:

• Other helpful balance transfer articles
• 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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