Balance Transfer Credit Cards

Trying to manage debt? Try a balance transfer card. This card can help you pay down debt faster by letting you move an existing balance to a new card with lower interest. Compare balance transfer offers from our partners and see how much each card could help you save.

See offers from our partners below.

Estimated savings is based on on a total credit card transfer balance of $2,500, current APR of 15.00%, and a monthly repayment of $56.25 for the first 24 months.

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount, assumes you make fixed monthly payments on time, and does not assume rewards or purchases, since those will vary per individual.

Blue Cash Preferred® Card from American Express

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
months

Regular Balance Transfer APR

14.24% - 25.24%
variable

Estimated Savings

N/A

Blue Cash Preferred® Card from American Express

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
months

Regular Balance Transfer APR

14.24% - 25.24%
variable

Estimated Savings

N/A

Card Details

  • $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) - that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
  • 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 14.24% to 25.24%.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • $95 annual fee.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Terms Apply.

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $95
Purchase Intro APR 0% on Purchases for 12 months
Regular APR 14.24%-25.24% Variable
Balance Transfers Intro APR 0% on Balance Transfers for 12 months
Balance Transfer Fee Either $5 or 3% of the amount of each transfer, whichever is greater.

Features

EMV
0% Introductory APR
Free Credit Score
Auto Rental Insurance
Extended Warranty Program
Lost Luggage Reimbursement
Purchase Protection
Roadside Assistance
Travel Accident Insurance
Travel Assistance
Zero Fraud Liability
Mobile Pay Ready
Presale Tickets
View More Details

at American Express's
secure site

See Rates & fees
Terms Apply
U.S. Bank Cash+™ Visa Signature® Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
billing cycles

Regular Balance Transfer APR

15.24% - 24.24%
variable

Estimated Savings

$233.92
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

U.S. Bank Cash+™ Visa Signature® Card

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
billing cycles

Regular Balance Transfer APR

15.24% - 24.24%
variable

Estimated Savings

$233.92

Card Details

  • New Cardmember bonus: $150 after you spend $500 in eligible net purchases in the first 90 days of account opening.
  • 5% cash back on your first $2,000 in eligible net purchases each quarter on the combined two categories you choose.
  • 2% cash back on your choice of one everyday category, like gas or groceries.
  • 1% cash back on all other eligible net purchases.
  • No limit on total cash back earned.
  • 0% Intro APR* on balance transfers for 12 billing cycles. After that, a variable APR currently 15.24% - 24.24%
  • No annual fee
  • Great Offer for Customers of U.S. Bank, a 2017 World's Most Ethical Company® - Ethisphere Institute, March 2017

Recommended Credit Score

740 850
Excellent

Rates & Fees

Annual Fee $0*
Purchase Intro APR N/A
Regular APR 15.24% - 24.24%* (Variable)
Balance Transfers Intro APR 0%* intro on BTs for 12 months
Balance Transfer Fee 3%

Features

EMV
No Annual Fee
Auto Rental Insurance
Concierge Service
Extended Warranty Program
Lost Luggage Reimbursement
Purchase Protection
Roadside Assistance
Travel Accident Insurance
Travel Assistance
Zero Fraud Liability
Mobile Pay Ready
Visa Signature®
View More Details

at U.S. Bank's
secure site

See Rates & fees
Wells Fargo Cash Wise Visa® Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
months

Regular Balance Transfer APR

14.24% - 26.24%
variable

Estimated Savings

$163.14
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

Wells Fargo Cash Wise Visa® Card

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
months

Regular Balance Transfer APR

14.24% - 26.24%
variable

Estimated Savings

$163.14

Card Details

  • Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
  • Earn unlimited 1.5% cash rewards on purchases
  • Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Android Pay™, during the first 12 months from account opening
  • No category restrictions or sign ups and cash rewards don't expire as long as your account remains open
  • 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 Wells Fargo Cash Wise Visa® Card
  • 0% Intro APR for 12 months on purchases and balance transfers, then a 14.24%-26.24% variable APR; balance transfer fees apply
  • $0 Annual Fee
  • Select "Apply Now" to learn more about the product features, terms, and conditions

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR 0% for 12 months
Regular APR 14.24%-26.24% (Variable)
Balance Transfers Intro APR 0% for 12 months
Balance Transfer Fee 3% Intro for 12 months, then 5%

Features

EMV
No Annual Fee
0% Introductory APR
Free Credit Score
Auto Rental Insurance
Zero Fraud Liability
Mobile Pay Ready
Cellphone Insurance
View More Details

at Wells Fargo's
secure site

Discover it® Cashback Match™

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

14
months

Regular Balance Transfer APR

13.24% - 24.24%
variable

Estimated Savings

$321.91
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

Discover it® Cashback Match™

(25,774 Reviews)

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

14
months

Regular Balance Transfer APR

13.24% - 24.24%
variable

Estimated Savings

$321.91

Card Details

  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
  • Earn 1% cash back on all other purchases.
  • Intro Offer: Discover will match all the cash back earned at the end of your first year, automatically.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • Use your rewards instantly at Amazon.com checkout.
  • No annual fee.

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR 0% for 14 months
Regular APR 13.24% - 24.24% Variable
Balance Transfers Intro APR 0% for 14 months
Balance Transfer Fee 3%

Features

EMV
No Foreign Transaction Fees
No Annual Fee
0% Introductory APR
Free Credit Score
Price Protection
Zero Fraud Liability
Mobile Pay Ready
View More Details

at Discover's
secure site

See Rates & fees
Discover it® chrome

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

14
months

Regular Balance Transfer APR

13.24% - 24.24%
variable

Estimated Savings

$321.91
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

Discover it® chrome

(993 Reviews)

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

14
months

Regular Balance Transfer APR

13.24% - 24.24%
variable

Estimated Savings

$321.91

Card Details

  • Intro Offer: Discover will match all the cash back earned at the end of your first year, automatically.
  • 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases every quarter - no sign-ups needed. Plus, 1% cash back on all other purchases.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • 100% U.S. based customer service.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
  • Receive Free Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
  • No annual fee.

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR 0% for 14 months
Regular APR 13.24% - 24.24% Variable
Balance Transfers Intro APR 0% for 14 months
Balance Transfer Fee 3%

Features

EMV
No Foreign Transaction Fees
No Annual Fee
0% Introductory APR
Free Credit Score
Price Protection
Zero Fraud Liability
Mobile Pay Ready
View More Details

at Discover's
secure site

See Rates & fees
NHL® Discover it® Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

14
months

Regular Balance Transfer APR

13.24% - 24.24%
variable

Estimated Savings

$321.91
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

NHL® Discover it® Card

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

14
months

Regular Balance Transfer APR

13.24% - 24.24%
variable

Estimated Savings

$321.91

Card Details

  • Choose your favorite team & show your pride – all 31 teams available. Save 10% at Shop.NHL.com and NHL.TV™.
  • Intro Offer: Discover will match all the cash back earned at the end of your first year, automatically.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
  • Plus, 1% cash back on all other purchases.
  • Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
  • Receive Free Social Security number alerts-Discover will monitor thousands of risky websites when you sign up.
  • No annual fee.

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR 0% for 14 months
Regular APR 13.24% - 24.24% Variable
Balance Transfers Intro APR 0% for 14 months
Balance Transfer Fee 3%

Features

EMV
No Foreign Transaction Fees
No Annual Fee
0% Introductory APR
Free Credit Score
Price Protection
Zero Fraud Liability
Mobile Pay Ready
View More Details

at Discover's
secure site

See Rates & fees
Citi ThankYou® Preferred Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

14.74% - 24.74%
variable

Estimated Savings

$341.08
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos., with the Intro Balance Transfer Period at the Intro Balance Transfer APR rate, plus any remaining months at the Regular APR.

Citi ThankYou® Preferred Card

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

14.74% - 24.74%
variable

Estimated Savings

$341.08

Card Details

  • Enjoy 0% Intro APR on purchases for 15 months from date of account opening and 0% Intro APR on balance transfers for 15 months from date of first transfer*
  • After that, the variable APR will be 14.74% - 24.74% based upon your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater*
  • Earn 2X Points on Dining Out & Entertainment
  • Earn 1X Points on All Other Purchases
  • Points are redeemable for gift cards to popular retailers, restaurants, and department and home stores. 2,500 ThankYou® Points can be redeemed for a $25 gift card at thankyou.com.
  • No expiration and no limit to the amount of points you can earn with this card
  • No annual fee*

Recommended Credit Score

740 850
Excellent

Rates & Fees

Annual Fee $0*
Purchase Intro APR 0%* for 15 months on Purchases
Regular APR 14.74% - 24.74%* (Variable)
Balance Transfers Intro APR 0%* for 15 months on Balance Transfers
Balance Transfer Fee 3% of each balance transfer; $5 minimum.

Features

EMV
No Annual Fee
0% Introductory APR
Free Credit Score
Auto Rental Insurance
Concierge Service
Extended Warranty Program
Lost Luggage Reimbursement
Purchase Protection
Price Protection
Travel Accident Insurance
Trip Cancellation Insurance
Zero Fraud Liability
Mobile Pay Ready
MasterCard World
Presale Tickets
View More Details

at Citi's
secure site

HSBC Cash Rewards Mastercard® credit card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

14.24%, 18.24%
or 24.24%
variable

Estimated Savings

$318.71
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

HSBC Cash Rewards Mastercard® credit card

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

14.24%, 18.24%
or 24.24%
variable

Estimated Savings

$318.71

Card Details

  • Earn unlimited 1.5% cash rewards on all purchases.
  • Earn a $150 cash rewards intro bonus after spending $500 in the first 3 months.
  • 10% Anniversary Bonus on all Cash Rewards earned once a year.
  • No Annual Fee.
  • 0% Intro APR for 15 months on balance transfers, then a 14.24%, 18.24% or 24.24% variable APR.
  • No Foreign Transaction Fees.
  • $0 liability for unauthorized purchases.
  • Terms Apply.

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR N/A
Regular APR Variable APR of 14.24%, 18.24% or 24.24%
Balance Transfers Intro APR 0% Intro APR for 15 months
Balance Transfer Fee Either $10 or 4%, whichever is greater

Features

EMV
No Foreign Transaction Fees
No Annual Fee
0% Introductory APR
Auto Rental Insurance
Extended Warranty Program
Purchase Protection
Price Protection
Roadside Assistance
Travel Assistance
Zero Fraud Liability
Mobile Pay Ready
View More Details

at HSBC's
secure site

See Rates & fees
Barclaycard Ring™ Mastercard®

APPLY NOW

Intro Balance Transfer APR

N/A

Intro Balance Transfer Period

N/A

Regular Balance Transfer APR

10.24%
variable

Estimated Savings

$230.92
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

Barclaycard Ring™ Mastercard®

Intro Balance Transfer APR

N/A

Intro Balance Transfer Period

N/A

Regular Balance Transfer APR

10.24%
variable

Estimated Savings

$230.92

Card Details

  • A low, variable APR on purchases, balance transfers and cash advances
  • No annual fee
  • No balance transfer fees
  • No foreign transaction fees
  • Chip technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
  • Free online access to FICO® Credit Score

Recommended Credit Score

740 850
Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR N/A
Regular APR 10.24% Variable
Balance Transfers Intro APR N/A
Balance Transfer Fee None

Features

No Foreign Transaction Fees
No Annual Fee
0% Introductory APR
Free Credit Score
Auto Rental Insurance
Extended Warranty Program
Price Protection
Zero Fraud Liability
Mobile Pay Ready
View More Details

at Barclaycard's
secure site

Susan G. Komen® Cash Rewards Visa® credit card from Bank of America

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
billing cycles for BTs made in the first 60 days

Regular Balance Transfer APR

14.24% - 24.24%
Variable APR on purchases and balance transfers

Estimated Savings

$243.54
?

Estimated Savings is a CreditCards.com calculation that is used to provide an example of how much you might save by transferring your balances to a new card after factoring in fees, length of promotional periods and interest charges. This amount is based on the transfer amount and does not assume rewards or purchases, since those will vary per individual.

Estimated savings are based on the following amounts: Transfer Amount: $2,500, Current APR: 15.00%, Monthly Repayment: $56.25, Savings Period: 24 mos.

Susan G. Komen® Cash Rewards Visa® credit card from Bank of America

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
billing cycles for BTs made in the first 60 days

Regular Balance Transfer APR

14.24% - 24.24%
Variable APR on purchases and balance transfers

Estimated Savings

$243.54

Card Details

  • $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • From June 2015 through December 2020, Bank of America is guaranteeing to Susan G. Komen® $3 million in conjunction with its Pink Ribbon Banking credit card and checking program.
  • Susan G. Komen® has received more than $8 million from Bank of America from this program since 2009.
  • Earn 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter.
  • No annual fee
  • No changing categories and no expiration on rewards
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • 0% Introductory APR for 12 billing cycles for purchases and for any balance transfers made in the first 60 days, then, 14.24% - 24.24% Variable APR. 3% fee (min $10) applies to balance transfers.

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Intro Purchase APR 0% Introductory APR on purchases for 12 billing cycles
Regular APR 14.24% - 24.24% Variable APR on purchases and balance transfers
Balance Transfers Intro APR 0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days
Balance Transfer Fee 3% of the amount of each transaction or $10, whichever is greater.

Features

EMV
No Annual Fee
0% Introductory APR
Auto Rental Insurance
Extended Warranty Program
Lost Luggage Reimbursement
Purchase Protection
Travel Accident Insurance
Zero Fraud Liability
Mobile Pay Ready
Visa Signature®
FICO Score
View More Details

at Bank of America's
secure site

Editorial disclosure: All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank's website for the most current information.

Compare Balance Transfer Credit Card Offers

Updated: February 22, 2018

CreditCards.com's Best Balance Transfer Credit Cards of 2018

We have listed below our favorite balance transfer cards for 2018. Of these cards, the Discover it® card offers the highest estimated savings at $445.51. The Discover it®, Citi® Double Cash, and HSBC Gold Mastercard® all offer an intro 0% APR period of 18 months.

What Our Experts Are Saying

Laura Adams, personal finance expert and host of the Money Girl podcast
Favorite balance transfer card: U.S. Bank Visa Platinum card
"The U.S. Bank Visa Platinum Card is my top choice for the best balance transfer credit card. It gives you a long, 18-month promotional period with 0 percent APR for both transfers and new purchases."

Matt Schulz, senior industry analyst at CreditCards.com
Favorite balance transfer card: The Chase Slate card
"What sets the Slate by Chase card apart is the ability to avoid paying a balance transfer fee. Other cards offer longer zero-percent introductory periods, but having no balance transfer fee is a big deal, so Slate is my pick."

Daniel Ray, editor-in-chief at CreditCards.com
Favorite balance transfer card: The Chase Slate card
"Run the numbers yourself and you will see that the Chase Slate card, in most circumstances, gives the greatest value."

Rebecca Lake, Personal finance journalist
Favorite balance transfer card: Discover it
"If you’re looking for a balance transfer card that blends a generous introductory APR period with cash rewards, Discover it is a standout choice."

Holly Johnson, ClubThrifty.com
Favorite balance transfer card: Chase Slate
"It doesn't charge any balance transfer fees on balances transferred during the first 60 days, yet it still offers 0 percent APR on balance transfers for 15 months."

Barry Moltz, Small business expert and speaker
Favorite balance transfer card: Citi Diamond Preferred
"Citi Diamond can be your best friend. It offers an unbelievable 0 percent interest rate on balance transfers for 21 months! Where do I sign up?"

Full Details on Balance Transfer Cards

If you’re feeling weighed down by a large credit card balance, you can lighten your load – and save thousands on interest – by transferring your debt to a balance transfer credit card with a lengthy 0 percent promotional rate.

A balance transfer card can help you eliminate your debt more quickly by temporarily waiving the interest you have to pay so your balances don’t keep growing. It can also give you some breathing room if you need more time to tackle a large amount of debt.

Not all balance transfer cards are alike, though, so it’s a good idea to compare the cards closely before you commit. The best balance transfer cards give you well over a year to knock out a balance before the card’s interest rate kicks in, and don’t charge hefty fees. Here, we look at:

  • How balance transfer cards work
  • How to properly use a balance transfer card
  • Is a balance transfer card right for me?
  • Pros and cons of balance transfer cards
  • What is a balance transfer fee?
  • Should I get a card with no balance transfer fee?

We’ll walk you through how to and whether to choose a balance transfer card:

How balance transfer cards work

  • Calculate number of months. Figure out how much you can afford to pay each month and calculate how long it will take you to pay off the debt.
  • Select a card. Look at the annual fee and balance transfer fee. Also make sure you understand the requirements to keep the offer active.
  • Apply. Make sure you’ve checked your credit score and that you have a high likelihood of being accepted. You can be accepted within minutes.
  • Call to make the transfer. Contact the balance transfer card’s issuer to transfer your balance. Have the amount, the account number and the issuer’s information ready.
  • Pay on time each month. Make sure you pay on time each month because failing to do so can revoke your agreement and end the offer.
  • Pay off the balance. Strive to pay the balance before the offer ends so that you don’t pay interest.

How to properly use a balance transfer card

  • Choose the right offer period. You’ll want to figure out how long it will take you to pay off the balance, then get a card with the right offer period. Also, look at the balance transfer fee, and figure out if you want a card that has no balance transfer fee.
  • Decide how you want to use the card after the offer ends. Look at the annual fee and rewards. If there’s an annual fee but no rewards that you’ll use, then you may want a card with no annual fee. But if there are rewards you are interested in and the offer works for you, a rewards card, even with an annual fee, might be a good choice.
  • Pay on time each month. If you don’t pay on time each month, you can lose the interest-free offer before it ends, forcing you to pay interest, often higher than what you had been paying with your old card.
  • Pay before the end of the offer period. To avoid additional interest charges, pay off the balance before the offer ends.
  • Put a small charge on the old card and pay in full each month. While you are paying down the balance transfer card, place a small charge on your old card each month, paying it in full and on time each pay period. This will keep that account active and it ensures that your good credit habits continue.

Is a balance transfer card right for me?

  • Are you paying high interest? A balance transfer card might be a good choice if you are paying high interest rates on your card balances, which can easily be 16% APR or more.
  • Are you having trouble paying down your balance? If you are paying down only the minimum of your card balance, it might help to have a card that allows you to pay down interest-free for a limited time.
  • Can you stop spending on your card? As tempting as it might be to not pay interest with a balance transfer card, it’s important to also stop putting charges on your cards that you can’t pay for in full each month.
  • Can you pay before the offer ends? It’s best to pay off the balance before the offer ends to ensure you don’t pay interest.

Pros and cons of balance transfer cards

ProsCons
Usually 0% APR for limited timeIncur interest if don't pay by end of period
Can lower utilization ratioCan complicate finances if used incorrectly
Often can complete transaction over phoneOften requires good or excellent credit
Some cards have no balance transfer feeBalance transfer fee can be up to 5% or $10, whichever is greater
Some cards have lucrative rewardsCards with longer 0% APR offers often have limited rewards

What is a balance transfer fee?

Card issuers make their money in part through charging interest and fees. One fee that ensures the issuer gets a cut even if the consumer doesn’t pay interest is the balance transfer fee. Balance transfer cards are designed for you to avoid paying interest for a limited time. Most balance transfer cards have the balance transfer fee, typically 3%-5% or $5-$10, whichever is greater. But there are a few cards that don’t charge the fee as an introductory offer for balance transfers made within 60 days of account opening, such as the Chase Slate.

Should I get a card with no balance transfer fee?

Whether to get a card with no balance transfer fee is only one of the factors you should consider when looking at balance transfer cards. A few cards, such as the Chase Slate, offer a $0 intro fee for balance transfers made in the first 60 days of account opening, which can save you hundreds of dollars depending on the amount you are transferring. For example, if a card charges 5% of the amount transferred, then you pay $100 for a $2,000 transfer. But you need to look at more than the balance transfer fee when making a decision. How much are you saving in interest by conducting the transfer? What are your plans for the card after you pay off the balance? Does it have rewards? Or do you need a lengthier 0% offer because you have a large balance?

Recap: Our Best Balance Transfer Credit Cards of 2018

Card0% Intro BT APR PeriodBalance Transfer FeeOur Savings EstimateRegular APR
Blue Cash Everyday® Card from American Express15 months3% of each balance transfer; $5 minimumN/A14.24% - 25.24% Variable
Citi® Double Cash Card18 months3% of each balance transfer; $5 minimum$433.7814.74% - 24.74%* Variable
Chase Freedom Unlimited®15 months5% of the amount transferred, $5 minimum$271.4116.24% - 24.99% Variable
Discover it®18 months3.00%$441.51
13.24% - 24.24% Variable
HSBC Gold Mastercard® Credit Card18 monthsEither $10 or 4% of transfer amount, whichever is greater$433.5812.24%, 16.24%, or 20.24% Variable
Chase Slate®15 months$0 intro fee for first 60 days. After that, 5% of the amount transferred, $5 minimum
$417.1216.99% - 24.99% Variable
The Amex EveryDay® Credit Card from American Express15 months$0, balance transfers must be requested within 60 days from account openingN/A14.24% - 25.24% Variable
Chase Freedom®15 months5% of the amount transferred, $5 minimum$271.4116.24% - 24.99% Variable
Capital One® Quicksilver® Cash Rewards Credit Card9 months3.00%$124.4514.24% - 24.24% Variable
Wells Fargo Platinum Visa® Card15 months3% intro for 15 months, then 5%$261.8816.40% - 26.24% Variable

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