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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 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.
| Card name | Bankrate’s pick for | Balance transfer intro APR period | Regular APR | Bankrate review score |
|---|---|---|---|---|
| U.S. Bank Visa Platinum Card | Intro APR period on purchases and balance transfers | 0% intro APR for 20 billing cycles for balance transfers made in the first 60 days | 16.74% –26.74% variable | 4.0 / 5 (Read full card review) |
| Wells Fargo Reflect Card | Longest 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) | 15.24% %–27.24% variable | 4.2 / 5 (Read full card review) |
| Citi Diamond Preferred Card | Excellent credit | 21 months | 15.99%– 25.99% variable | 3.7 / 5 (Read full card review) |
| Discover it Balance Transfer | Rotating category cash back | 18 months | 13.49%–24.49% variable | 4.5 / 5 (Read full card review) |
| Blue Cash Everyday Card from American Express | Everyday rewards | 15 months | 16.24%– 27.24% variable | 4.2 / 5 (Read full card review) |
| BankAmericard credit card | No penalty APR | 0% APR for 18 billing cycles for any balance transfers made in the first 60 days | 15.24%–25.24% variable | 4.3 / 5 (Read full card review) |
| Capital One Quicksilver Cash Rewards Credit Card | No foreign transaction fee | 15 months* | 16.49% –26.49% variable | 3.8 / 5 (Read full card review) |
| Citi Double Cash Card | Good credit | 18 months | 16.24%– 26.24% variable | 4.0 / 5 (Read full card review) |
| Citi Simplicity Card | No late fee | 21 months | 16.99%–26.99% variable | 3.5 / 5 (Read full card review) |
| Wells Fargo Active Cash Card | 2% cash rewards | 15 months | 17.24%, 22.24%, or 27.24% variable | 4.3 / 5 (Read full card review) |
| Capital One VentureOne Rewards Credit Card | Travel card with a balance transfer offer | 15 months* | 16.49% –26.49% variable | 4.2 / 5 (Read full card review) |
| Citi Custom Cash Card | Automatic bonus category | 15 months | 16.24%–26.24% variable | 4.4 / 5 (Read full card review) |
| Bank of America Unlimited Cash Rewards credit card | Unlimited 1.5% cash back | 0% APR for 15 billing cycles for any balance transfers made in the first 60 days | 16.24%– 26.24% variable APR | 3.8 / 5 (Read full card review) |
| Bank of America Customized Cash Rewards credit card | Flexible rewards categories | 0% APR for 15 billing cycles for any balance transfers made in the first 60 days | 16.24%– 26.24% variable APR | 4.6 / 5 (Read full card review) |
*3% fee on the amounts transferred within the first 15 months.
Learn more: Is the Wells Fargo Reflect Card worth it?
Read our full U.S. Bank Visa Platinum Card review or jump back to offer details.
Learn more: U.S. Bank Visa Platinum benefits guide.
Read our full Wells Fargo Reflect Card review or jump back to offer details.
Learn more: Why people love the Citi Diamond Preferred Card.
Read our full Citi Diamond Preferred Card review or jump back to offer details.
Learn more: Is the Discover it Balance Transfer card worth it?
Read our full Discover it Balance Transfer review or jump back to offer details.
Learn more: Amex Blue Cash Everyday benefits guide
Read our full Blue Cash Everyday Card review or jump back to offer details.
Learn more: Compare BankAmericard vs. Citi Diamond Preferred card.
Read our full BankAmericard credit card review orjump back to offer details.
Learn more: Compare Capital One Quicksilver Cash Rewards card vs. Bank of America Unlimited Cash Rewards card.
Read our full Capital One Quicksilver Cash Rewards Credit Card review or jump back to offer details.
Learn more: Compare Capital One Quicksilver vs. Citi Double Cash Card.
Read our full Citi Double Cash Card review or jump back to offer details.
Learn more: Citi Simplicity card benefits guide.
Read our full Citi Simplicity Card reviewor jump back to offer details.
Learn more: Is the new Wells Fargo Active Cash worth it?
Read our full Wells Fargo Active Cash Card review or jump back to offer details.
Learn more: Capital One VentureOne rewards card benefits guide.
Read our full Capital One VentureOne Rewards Credit Card review or jump back to offer details.
Learn more: Is the Citi Custom Cash worth it?
Read our full Citi Custom Cash Card review or jump back to offer details.
Learn more: Compare Bank of America Unlimited Cash Rewards vs. BankAmericard.
Read our full Bank of America Unlimited Cash Rewards credit card review or jump back to offer details.
Learn more: Bank of America Business Advantage Customized Cash Rewards vs. Amex Blue Business Cash
Read our full Bank of America Customized Cash Rewards credit card review or jump back to offer details.
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.
Want to learn more? Read our full guide on how balance transfer credit cards work.
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.
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:
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 three questions:
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.
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.
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.
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.
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.
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 $5,525 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 |
|---|---|---|---|---|
| U.S. Bank Visa Platinum Card | 20 billing cycles (on transfers made in first 60 days) | 16.74%–26.74% variable | $165.75 (3%) | $851.25 |
| 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) | 15.24%–27.24% 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 an up to three-month extension if you make on-time monthly payments while the intro offer is active.
|
| Discover it Balance Transfer | 18 months | 13.49%–24.49% 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 |
| Citi Diamond Preferred Card | 21 months | 15.99%– 25.99% variable | $276.25 (5%) | $791.75 |
| BankAmericard credit card | 18 billing cycles (on any transfers made in first 60 days) | 15.24%–25.24% variable | $165.75 (3%) | $749.25 |
| Citi Double Cash Card | 18 months | 16.24%– 26.24% variable | $165.75 (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.
|
$749.25 |
| Citi Simplicity Card | 21 months | 16.99%–26.99% variable | $276.25 (5%) | $791.35 |
| Wells Fargo Active Cash Card | 15 months for qualifying transfers from account opening | 17.24%, 22.24%, or 27.24% variable | $165.75 (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.
|
$599.25 |
| Citi Custom Cash Card | 15 months | 16.24%–26.24% variable | $276.25 (5%) | $488.75 |
| Bank of America Customized Cash Rewards credit card | 15 billing cycles (on any transfers made in first 60 days) | 16.24%– 26.24% variable | $165.75 (3%) | $599.25 |
| Bank of America Unlimited Cash Rewards credit card | 15 billing cycles (on any transfers made in first 60 days) | 16.24%– 26.24% variable | $165.75 (3%) | $599.25 |
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 June 30, 2022 and avoid regular APR until: |
|---|---|---|
| Citi Diamond Preferred Card | 21 months (15.99%–25.99% variable after) | February 2024 |
| Citi Simplicity Card | 21 months (16.99%–26.99% variable after) | February 2024 |
| 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, then 15.24%–27.24% variable after) | At least November 2023 |
*Terms and Restrictions Apply
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:
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.
If you want to do a balance transfer with a specific bank or card issuer, Bankrate has detailed guides from the following financial companies:
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:
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.
