Balance Transfer Credit Cards

Picking a balance transfer credit card can be confusing, but our Transfer Savings Estimator makes it easy to find the card that will save you the most money. Whether you're consolidating several credit card balances or simply moving an existing balance to a new card, the Savings Estimator can help you estimate annual savings by factoring in introductory rate, balance transfer fee, and how long you'll keep the balance. Compare balance transfer offers from our partners and find the card that's best for you.

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.

Discover it®

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

18
months

Regular Balance Transfer APR

11.99% - 23.99%
variable

Estimated Savings

$447.28
?

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®

(25,570 Reviews)

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

18
months

Regular Balance Transfer APR

11.99% - 23.99%
variable

Estimated Savings

$447.28

Why should I get this card?

The Discover it® offers a long 18-month 0% introductory period to pay off your balance, six months of 0% interest on new purchases and a great cash rewards program that doubles all cash earned at the end of the first year.

Card Details

  • New! Free Social Security Number alerts, we'll monitor thousands of risky websites when you sign up.*
  • You could turn $150 into $300 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
  • Earn 5% cash back in rotating categories each quarter like gas stations, Amazon.com, restaurants, wholesale clubs and more, up to the quarterly maximum each time you activate. 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 FICO® Credit Score for free on monthly statements, on mobile and online.
  • No annual fee.

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR 0% for 6 months
Regular APR 11.99% - 23.99% Variable
Balance Transfers Intro APR 0% for 18 months
Balance Transfer Fee 3%

Features

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

at Discover's
secure site

See Rates & fees
Citi® Diamond Preferred® Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

21
months

Regular Balance Transfer APR

13.99% - 23.99%
variable

Estimated Savings

$515.76
?

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.

Citi® Diamond Preferred® Card

APPLY BY PHONE

or call Citi at

877-342-7930

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

21
months

Regular Balance Transfer APR

13.99% - 23.99%
variable

Estimated Savings

$515.76

Why should I get this card?

Thanks to its generous 21 month 0% introductory APR offers, the Citi Diamond Preferred Card is a great option for consolidating debt from another card or financing a big-ticket item.

Card Details

  • Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 13.99% - 23.99% based upon your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer
  • Citi® Price Rewind searches for lower prices online for 60 days for your registered purchases: you can get back up to $500 per item and $2,500 a year*
  • $0 liability on unauthorized purchases and Citi® Identity Theft Solutions
  • No annual fee*
  • Free access to FICO® Scores*

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0*
Purchase Intro APR 0%* for 21 months*
Regular APR 13.99% - 23.99%* (Variable)
Balance Transfers Intro APR 0%* for 21 months*
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
Roadside Assistance
Travel Accident Insurance
Trip Cancellation Insurance
Zero Fraud Liability
Mobile Pay Ready
Presale Tickets
View More Details

at Citi's
secure site

or call Citi at

877-342-7930
Citi Simplicity® Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

21
months

Regular Balance Transfer APR

14.99% - 24.99%
variable

Estimated Savings

$512.31
?

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.

Citi Simplicity® Card

APPLY BY PHONE

or call Citi at

877-328-9712

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

21
months

Regular Balance Transfer APR

14.99% - 24.99%
variable

Estimated Savings

$512.31

Why should I get this card?

Citi Simplicity® Card's 21 month 0% APR offer on purchases is among the longest currently available. Plus, there's no annual fee.

Card Details

  • The Only card with No Late Fees, No Penalty Rate, and No Annual Fee...Ever
  • 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 14.99% - 24.99% based on your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day - just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0*
Purchase Intro APR 0%* for 21 months*
Regular APR 14.99% - 24.99% (Variable)
Balance Transfers Intro APR 0%* for 21 months*
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
Zero Fraud Liability
Mobile Pay Ready
Presale Tickets
View More Details

at Citi's
secure site

or call Citi at

877-328-9712
Citi® Double Cash Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

18
months

Regular Balance Transfer APR

14.49% - 24.49%
variable

Estimated Savings

$435.72
?

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.

Citi® Double Cash Card

APPLY BY PHONE

or call Citi at

888-252-3753

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

18
months

Regular Balance Transfer APR

14.49% - 24.49%
variable

Estimated Savings

$435.72

Why should I get this card?

The Citi® Double Cash Card offers a 0% intro APR on balance transfers for 18 months. After that, the variable APR will change based on your creditworthiness. Plus there's no annual fee!

Card Details

  • Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • Balance Transfers do not earn cash back
  • 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 14.49% - 24.49% based on your creditworthiness
  • Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
  • No categories to track, no caps on cash back, no annual fee*

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0*
Purchase Intro APR N/A
Regular APR 14.49% - 24.49%* (Variable)
Balance Transfers Intro APR 0% for 18 months*
Balance Transfer Fee 3% of each balance transfer; $5 minimum.

Features

EMV
No Annual Fee
Free Credit Score
Auto Rental Insurance
Extended Warranty Program
Purchase Protection
Price Protection
Travel Accident Insurance
Trip Cancellation Insurance
Zero Fraud Liability
Mobile Pay Ready
Presale Tickets
View More Details

at Citi's
secure site

or call Citi at

888-252-3753
Chase Freedom Unlimited®

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

15.99% - 24.74%
variable

Estimated Savings

$420.22
?

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.

Chase Freedom Unlimited®

(8,829 Reviews)

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

15.99% - 24.74%
variable

Estimated Savings

$420.22

Why should I get this card?

The Chase Freedom Unlimited® offers 0% APR for 15-months from account opening on purchases and balance transfers. Cardholders can also earn unlimited 1.5% cash back on every purchase - it's automatic!

Card Details

  • Unlimited 1.5% cash back on every purchase — it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR 0% for 15 months
Regular APR 15.99% - 24.74% Variable
Balance Transfers Intro APR 0% for 15 months
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater

Features

EMV
No Annual Fee
0% Introductory APR
Concierge Service
Extended Warranty Program
Purchase Protection
Travel Accident Insurance
Zero Fraud Liability
Mobile Pay Ready
Visa Signature
View More Details

at Chase's
secure site

Wells Fargo Platinum Visa® Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

18
months

Regular Balance Transfer APR

16.15% - 25.99%
variable

Estimated Savings

$367.95
?

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 Platinum Visa® Card

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

18
months

Regular Balance Transfer APR

16.15% - 25.99%
variable

Estimated Savings

$367.95

Why should I get this card?

The Wells Fargo Platinum Visa® Card offers long intro APR periods, with up to $600 protection on your cell phone against covered damage or theft when you pay your phone bill with this card.

Card Details

  • 0% Intro APR for 18 months on purchases and balance transfers, then a 16.15%-25.99% variable APR; balance transfer fees apply
  • 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 Platinum Visa® Card
  • Free access to your FICO® Credit Score with Wells Fargo Online®
  • Zero Liability protection for promptly reported unauthorized transactions
  • Convenient tools to help create a budget and manage your spending with My Money Map
  • $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 18 months
Regular APR 16.15%-25.99% (Variable)
Balance Transfers Intro APR 0% for 18 months
Balance Transfer Fee 3% Intro for 18 months, then 5%

Features

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

at Wells Fargo's
secure site

JetBlue Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
months

Regular Balance Transfer APR

12.99%, 20.99%
or 25.99%
variable

Estimated Savings

$329.73
?

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.

JetBlue Card

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

12
months

Regular Balance Transfer APR

12.99%, 20.99%
or 25.99%
variable

Estimated Savings

$329.73

Why should I get this card?

With the JetBlue card, cardholders earn 10,000 bonus points after spending $1,000 on purchases in the first 90 days. Points awarded on your TrueBlue account don't expire and there are no blackout dates on JetBlue-operated flights.

Card Details

  • Earn 10,000 bonus points after spending $1,000 on purchases in the first 90 days
  • Earn 3 points per $1 spent on JetBlue purchases, 2 points per $1 at restaurants and grocery stores and 1 point per $1 on all other purchases
  • No blackout dates on JetBlue-operated flights & redeem for any seat, any time on JetBlue-operated flights. Points required for an Award Flight will vary based on the published base fare at the time of booking
  • Points awarded in your TrueBlue account don't expire
  • Earn and share points together with Family Pooling
  • 50% savings on eligible inflight purchases like cocktails and food on JetBlue-operated flights
  • No foreign transaction fees
  • Chip technology & $0 Fraud Liability protection

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR N/A
Regular APR 12.99%, 20.99% or 25.99% variable
Balance Transfers Intro APR 0% for 12 months (on balance transfers made within 45 days of account opening)
Balance Transfer Fee The greater of $5 or 3% of the transfer

Features

EMV
No Foreign Transaction Fees
No Annual Fee
Auto Rental Insurance
Price Protection
Zero Fraud Liability
Mobile Pay Ready
View More Details

at Barclaycard's
secure site

Chase Freedom®

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

15.99% - 24.74%
variable

Estimated Savings

$420.22
?

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.

Chase Freedom®

(13,461 Reviews)

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
months

Regular Balance Transfer APR

15.99% - 24.74%
variable

Estimated Savings

$420.22

Why should I get this card?

The Chase Freedom® offers 0% APR for 15-months from account opening on purchases and balance transfers. Cardholders can also earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate.

Card Details

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter like gas stations, restaurants and drugstores
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Purchase Intro APR 0% for 15 months
Regular APR 15.99% - 24.74% Variable
Balance Transfers Intro APR 0% for 15 months
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater

Features

EMV
No Annual Fee
0% Introductory APR
Auto Rental Insurance
Concierge Service
Extended Warranty Program
Lost Luggage Reimbursement
Purchase Protection
Price Protection
Roadside Assistance
Travel Accident Insurance
Travel Assistance
Trip Cancellation Insurance
Zero Fraud Liability
Mobile Pay Ready
Visa Signature
View More Details

at Chase's
secure site

BankAmericard® Credit Card

APPLY NOW

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
billing cycles for BTs made in the first 60 days

Regular Balance Transfer APR

12.99% - 22.99%
Variable APR on purchases and balance transfers

Estimated Savings

$449.39
?

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.

BankAmericard® Credit Card

(9,240 Reviews)

Intro Balance Transfer APR

0%

Intro Balance Transfer Period

15
billing cycles for BTs made in the first 60 days

Regular Balance Transfer APR

12.99% - 22.99%
Variable APR on purchases and balance transfers

Estimated Savings

$449.39

Why should I get this card?

New card holders will enjoy a $0 intro balance transfer fee during the first 60 days of account opening. After that, the fee for future balance transfers is 3% (min. $10).

Card Details

  • 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days, then 12.99% - 22.99% Variable APR
  • $0 Intro balance transfer fee during first 60 days of account opening. After that, the fee for future balance transfers is 3% (min. $10).
  • No annual fee
  • No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
  • Access your FICO® Score for free within Online Banking or your Mobile Banking app

Recommended Credit Score

670 850
Good to Excellent

Rates & Fees

Annual Fee $0
Intro Purchase APR 0% Introductory APR on purchases for 15 billing cycles
Regular APR 12.99% - 22.99% Variable APR on purchases and balance transfers
Intro Balance Transfer APR 0% Intro APR for 15 billing cycles for balance transfers made in the first 60 days
Balance Transfer Fee $0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% (min. $10).

Features

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

at Bank of America'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

13.99% - 25.99%
variable

Estimated Savings

$168.13
?

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

13.99% - 25.99%
variable

Estimated Savings

$168.13

Why should I get this card?

The Wells Fargo Cash Wise Visa® Card offers a $200 cash rewards bonus after spending $1,000 in the first 3 months and a 0% intro APR for 12 months on purchases and balance transfers. Plus, there's no annual fee!

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 13.99%-25.99% 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 13.99%-25.99% (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

Show More Results

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: September 5, 2017

Card 0% Intro BT APR Period Balance Transfer Fee Our Savings Estimate Regular APR
Citi® Diamond Preferred® Card 21 months 3.00% $517.49 13.99% - 23.99% Variable
Citi Simplicity® Card 21 months 3.00% $514.03 14.99% - 24.99% Variable
Discover it® 18 months 3.00% $447.28 11.99% - 23.99% Variable
Citi® Double Cash Card 18 months 3.00% $435.72 14.49% - 24.49% Variable
Chase Freedom Unlimited® 15 months 5.00% $420.22 15.99% - 24.74% Variable
Chase Freedom® 15 months 5.00% $420.22 15.99% - 24.74% Variable
Wells Fargo Platinum Visa® Card 18 months 3.00% Intro $367.95 16.15% - 25.99% Variable
JetBlue Card 0% for 12 months (on balance transfers made within 45 days of account opening) 3.00% $329.73 12.99%, 20.99% or 25.99% Variable
Wells Fargo Cash Wise Visa® Card 12 months 3.00% Intro $168.13 13.99% - 25.99% Variable

A balance transfer can be a great way to consolidate payments and avoid interest if you're carrying a balance. With the right card, you can even reap rewards and benefits after you pay off the transferred balance. If you know how these offers work, and you know what other perks to look for, you can find the best balance transfer card to minimize your interest and maximize your rewards.

If you're not familiar with balance transfers, our balance transfer card reviews will help you discover what the details of each card are, and show you what rewards are worth.

What is the meaning of balance transfer?

A balance transfer means you transfer the balance from one credit card to a card typically with a lower interest rate. Let's say you have $3,000 on Card A with a 17% APR. That means if you pay the minimum amount, it will take you 126 months and you will pay $2,241 in interest. If you transfer that $3,000 to Card B, with an introductory 0% APR for 18 months, that means you have 18 months to pay off the balance without paying interest fees, thereby potentially avoiding the cost of $2,241. Balance transfers are also an option if you want to streamline your payments. Simply transfer your balances to a single card and make one payment a month.

What is a balance transfer card?

A balance transfer card is a credit card that consumers typically use to avoid paying a higher interest fee. The balance on Card A is transferred to Card B, which may have a low or 0% introductory APR. Credit card companies will sometimes attract new customers with little to no interest for a set period, sometimes as long as 21 months, such as the Citi Simplicity. Balance transfer cards may also have a 0% introductory APR for purchases. For example, the Simplicity has an introductory 0% APR of 21 months for purchases. Each credit card specifies which balances will be paid first typically starting with the lowest–rate balances. Some balance transfer card rules specify that only transferred balances qualify for the lower rate, while new purchases collect interest at the regular, higher APR.

What is a balance transfer fee?

A balance transfer fee is the charge for transferring a balance from one credit card to another. The more you transfer, the larger the fee. A typical fee is 3%–5%, with a minimum of $5 or $10. For example, if you transfer a $10,000 debt from another card, you might pay a $300 fee right away. While that expense may seem hefty, assess whether you will actually save by transferring to a 0% introductory APR card to avoid interest fees, because you can easily spend thousands on interest fees. However, make sure you will be able to pay off the debt by the time the introductory offer ends, because the new card will likely revert to a go–to APR that can be 15% or more. See if it makes sense for you by using our balance transfer calculator.

Keep in mind that some balance transfer cards don't have balance transfer fees, such as the Barclaycard Ring Mastercard.

What is a balance transfer intro period?

A balance transfer introductory period refers to a low or 0% APR offer a credit card issuer provides for a limited period of time as an incentive to become a cardholder. A cardholder can pay down debt transferred from another card while not paying interest for the debt for an introductory period of time. A balance transfer intro period can last up to 21 months. After the set period, the interest rate can increase to a “go–to rate” of 15% or more. You should make sure you evaluate the balance transfer interest rate during the promotional period, the length of the promotional period, and the balance transfer fee when deciding which balance transfer offer is best for you.

What is balance transfer intro APR?

An introductory APR period is the amount of time you have to pay off the amount you've transferred without paying interest. A 0% APR period can last up to 21 months. Most balance transfer cards, with a few exceptions, charge you to move your balance. Generally, this fee is a percent of the balance you're transferring ranging from 3% to 5% depending on the card or $5–$10, whichever is greater. Since most cards' default rate can be higher than the rate you had on your old card, paying off your debt within the 0% period is crucial. Read the fine print, as some cards will void the 0% deal if you miss a payment.

How does a balance transfer on a credit card work?

Transferring the balance from one credit card to a card with a lower APR is referred to as a balance transfer. It should be noted that transferring isn't the same as repaying. When you use a balance transfer card, you are transferring the debt from Card A to Card B. Then, if Card B has an introductory offer, you can typically have a set amount of time, up to 21 months, to pay off the debt without paying any interest fees, although there can be a balance transfer fee. Other reasons to transfer a balance can be to consolidate your debts. However, avoid closing a credit card account, because having available credit helps your credit rating. So, if you transfer debt from Card A, now you have a card without any debt, which increases your credit utilization ratio (the ratio of your available credit to how much you owe). The lower the ratio, the better. That means if you keep Card A open, your available credit is boosted, and your ratio is lower. Also, Card A's payment history can help your credit. Just be sure to keep Card A's account active by charging a small monthly amount, and pay it on time and in full each month.

Are credit card balance transfers a good idea?

Transferring a credit card balance can be a good idea if you've incurred card debt and you are paying the minimum monthly amount. That can translate to high monthly APR fees that can be avoided if you transfer your debt to a card with a 0% introductory APR. However, make sure you have a plan to pay off the debt before the introductory offer ends, because balance transfer cards typically have a “go–to” rate that can be 15% or more once the offer ends.

Another good reason for transferring a card balance is consolidation. If you have debt on multiple cards, and you want to avoid the hassle of multiple payments, taking out a good balance transfer card can be wise. However, get to the root of the problem. Why do you have debt on multiple cards? If you are using your credit cards to buy items not in your budget, the problem may not be the cards. It may be your spending habits.

Also, taking out a new credit card to transfer a balance can be a bad idea if you are planning to take out an installment loan (a car loan or a mortgage) in the coming months, because lenders look for “hard pulls” or evidence of recent requests for credit. If you plan to buy a car or house soon, weigh whether any card debt you have could impact your application with whether lenders would be concerned about new cards. When in doubt, check with your lender before making any financial move.

Do balance transfers help your credit?

A balance transfer can certainly improve your credit – in the long term. A number of aspects of your credit score come into play when you transfer a balance to a new credit card, notably your payment history, which is your history of on–time payments, and your credit utilization, which is your available credit compared to your debt. To a lesser extent, the length of your old card's history and taking out a new card can also impact your credit. Here's how:

Payment History

The most important (and most obvious) factor in play during a balance transfer is the opportunity to establish a better payment history. Payment history makes up 35% of your FICO score, the scoring model most used by lenders. Transferring debt from a high interest account to one with a 0% APR into period can significantly lessen the burden of maintaining a monthly payment schedule. You may have to pay a lump sum upfront in the form of a transfer fee, but the money you will save on interest can more than make up for it over time. If you pay more than the minimum amount and establish a plan to pay off the transferred balance before the introductory period expires, you will be debt–free years before you would if you pay the minimum. This will both save you money and improve your financial responsibility in the eyes of future creditors.

Credit Utilization

Along with an improved payment history, balance transfers can boost your credit by lowering your credit utilization (limit–to–balance) ratio. In fact, the second most important part of your FICO score is amount owed, at 30%. The credit utilization ratio is a measure of the debt you owe in comparison to the credit limit available to you. If you keep the old, paid–off card, that automatically boosts your ratio, because you have available credit with no debt. However, don't incur any additional debt once the new credit line has been established, or you'll defeat the purpose of building credit and get yourself back in your debt predicament.

Length of Credit History

Some 15% of your FICO score is made up by the length of credit history. And that's another great reason to keep your old card, so that you continue building your time with an older product.

New Credit

Some 10% of your FICO score is made up by new credit in your file. That's actually a reason to pause before taking out a balance transfer card – a new credit product can ding your rating, albeit not by much. Just be deliberate about your card choice, and make sure you don't have plans to take out an installment loan (car loan or mortgage) in the coming months, because lenders will be looking for any new products when they review your file.

Credit Mix in Use

The remaining 10% of your FICO score encourages a mix of credit products, such as credit cards and installment loans. For this reason, don't take out a balance transfer card without a plan, but a new balance transfer card can help your credit by allowing you to consolidate and to help you pay down your card debt.

Are balance transfers bad for your credit?

Used incorrectly, balance transfers can be bad for your credit. Used right, it can be great for your credit. Here's what you need to know:

Things to consider before applying for a balance transfer card

Balance transfer credit cards are a great way to improve your credit, used correctly. Used incorrectly, these cards can wreak havoc on your credit.

There are 5 things to consider before applying for a balance transfer card.

Can I withstand the credit score effects?

Applying for a new card requires a hard inquiry, which will temporarily drop your credit score. This can be recovered rather quickly and is generally not cause for worry. However, if you plan to take out an installment loan in the next few months, such as a car loan or a mortgage, these slight dings impact the interest rates or even whether you can land the loan of your choice. If your new card is the only credit you have on the horizon, then the drop in points will be temporary and relatively harmless, provided you continue to pay on time and keep your debt down.

What is the available credit limit?

The credit limit should be sufficient to cover the desired transfer amount without maxing out the new account. This way, you can take maximum advantage of the lower interest rates and improve your credit utilization ratio simultaneously. This ratio looms large for the FICO scoring model, the model most used by lenders. It is the amount of available credit you have compared to the amount of debt you have. The lower the percentage of debt, the better. That means the higher the new card's limit, the better, because any credit you aren't using counterbalances your debt.

How much is the transfer fee?

Low interest or 0% intro APR transfer cards usually require a transfer fee that typically ranges between 3% and 5% of the balance or $5–$10, whichever is greater. In most cases, this fee is minuscule in comparison to the interest charges you would otherwise pay and is therefore a good tradeoff. However, if the balance is low enough, it may not be worth paying the transfer fee in the first place. It's also worth noting that some card issuers waive the balance transfer fee, such as the Barclaycard Ring Mastercard.

How long is the introductory APR period?

The appeal of a balance transfer card comes in the form of a low or 0% intro APR, but these rates don't last forever. These teaser rates can be for up to 21 months, such as the Citi Simplicity. Look at all the card's benefits, though, because some cards have a shorter intro APR, such as the Blue Cash Everyday, yet they offer an introductory cashback offer and cash back for such purchases as groceries and gas. (Terms apply.) Think about how you'll use your card in the long haul. That said, make sure you only use such a card for purchases you can afford to pay off and after the balance transfer is paid so that you don't return to the cycle of debt you're trying to escape. Some cards, such as the Blue Cash Everyday, have a 0% intro APR for purchases as well.

Can I stay disciplined throughout the process?

Be true to yourself. If not, you could only worsen your existing situation. If you struggle with making monthly payments on time or don't trust your ability to cease acquiring debt, having another card at your disposal is probably not the best option. In fact, you may have difficulty even getting a new card if you have a history of late payments. Conversely, if you feel you are responsible enough to stick to the plan you have set for yourself, a balance transfer can bring you budgetary glory. If you think you can keep the old card active without incurring new debt, and you can pay down your new card without buying new items, a balance transfer card could be right for you.

How to select the right balance transfer card

Looking to land a balance transfer credit card? Here's how to select the right one for you:

How do you transfer a balance from one credit card to another?

Transferring a balance from one credit card to another is pretty straightforward.

Simply place a call to the new creditor's customer service line. Communicate that you would like to transfer a balance onto your new card and a representative will guide you from there. You may also accomplish this online, though the exact procedure will vary depending on the bank. Heads up that you will likely have to pay a balance transfer fee, although some cards do not charge one, such as Barclaycard Ring Mastercard. Also, make sure you get terms with the new card that will allow you to pay the debt in full by the end of the introductory offer. So, if you owe $3,600 and the offer is 0% APR for 12 months, that means you need to make sure you can pay $300 a month for a year. That way, you don't pay interest rates on the balance.

How long does it take to transfer a balance from one credit card to another?

Generally, a balance transfer can be expected to clear within 7 days of the request being placed. However, the exact amount of time it will take varies and is dependent on a number of issues. Many people report that their balance transfers have been accomplished in under 48 hours while others have complained of a transfer taking upwards of two weeks to complete. Unfortunately, there's no clear–cut timeline.

In order to better gauge how long a transfer will take, consider the following factors:

Can you transfer a balance from one card to another from the same bank?

Typically, a bank does not allow a balance transfer between two cards it has issued. That's because it doesn't make good business sense for the financial institution. After all, banks and card issuers operate to make money on the debt you owe and a balance transfer represents a means of saving the cardholder money on that debt.

That said, the structure of a balance transfer exists as a win–win for all parties involved when the debt is being transferred from one creditor to another, as it is almost always done. This way, both parties are satisfied for the following reasons:

How to properly use a balance transfer card

Here are tips to properly use a balance transfer card:

See the online credit card applications for details about the terms and conditions of an offer. Reasonable efforts are made to maintain accurate information. However, all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site.

* For additional rates, fees and costs see issuer's website for detailed pricing and terms.