Best Balance Transfer Credit Cards of 2024

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There’s little doubt consumers are getting squeezed by inflation, which can make managing credit card balances even more challenging. Nearly three-quarters (72%) of those with credit card debt added to it in the past year, according to a YouGov survey conducted for CreditCards.com at the end of 2022.

If you’re trying to manage your existing credit card debt or pay off a balance in full, a balance transfer credit card with a 0% or low-interest introductory period can save you plenty in interest charges. This can give you a fighting chance to work on paying down your balance.

Check out our picks for the best balance transfer credit cards and tips to help you with your debt repayment strategy.

There’s little doubt consumers are getting squeezed by inflation, which can make managing credit card balances even more challenging. Nearly three-quarters (72%) of those with credit card debt added to it in the past year, according to a YouGov survey conducted for CreditCards.com at the end of 2022.

If you’re trying to manage your existing credit card debt or pay off a balance in full, a balance transfer credit card with a 0% or low-interest introductory period can save you plenty in interest charges. This can give you a fighting chance to work on paying down your balance.

Check out our picks for the best balance transfer credit cards and tips to help you with your debt repayment strategy.

Here are the best balance transfer credit cards of 2024:

• Wells Fargo Reflect® Card: Best for long intro APR on purchases and balance transfers
• Blue Cash Everyday® Card from American Express: Best for grocery, gas and online rewards
• Citi Double Cash® Card: Best for versatile rewards
• Wells Fargo Active Cash® Card: Best for flat-rate cash rewards
• Chase Freedom Unlimited®: Best for broad spending
• Blue Cash Preferred Card® from American Express: Best for families
• Citi Custom Cash® Card: Best for automatically maximizing rewards
• Bank of America® Customized Cash Rewards credit card: Best for everyday spending
• Bank of America® Unlimited Cash Rewards credit card: Best for Preferred Rewards members
• Citi® Diamond Preferred® Card: Best no frills balance transfer card

Additional Options:

• Citi Simplicity® Card: Best for intro APR + low fees
• Chase Slate Edge℠: Best for staying on track
• BankAmericard® credit card: Best for low interest

Wells Fargo Reflect® Card

Our rating: 4.2 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$526 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% intro APR for 21 months from account opening on qualifying balance transfers Intro balance transfer period 0% intro APR for 21 months from account opening on qualifying balance transfers Regular balance transfer APR 18.24%, 24.74%, or 29.99% Variable APR

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 4.2 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

This Wells Fargo card features one of the longest intro APR offers on the market. That nets you an industry-leading intro APR offer on purchases and qualifying balance transfers.

Pros

• The intro rate extends to both purchases and qualified balance transfers.
• There are a few additional benefits attached to the card, including access to My Wells Fargo Deals and up to $600 in cellphone protection against damage or theft (with a $25 deductible).

Cons

• The balance transfer fee of 5% ($5 minimum) is higher than some other balance transfer cards.
• The lack of traditional rewards does eat into the card’s long-term value.

Bottom Line

If you need the maximum time to pay off high-interest credit card debt, consider this Wells Fargo credit card your top choice.

Highlights

• Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
• 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 18.24%, 24.74%, or 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
• $0 Annual Fee.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
• Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.

Rates & Fees

Intro Balance Transfers APR 0% intro APR for 21 months from account opening on qualifying balance transfers

Blue Cash Everyday® Card from American Express

Our rating: 4.8 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$491 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro balance transfer period 15 months Regular balance transfer APR 19.24% - 29.99% variable

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

See if you’re pre-approved for this card using our CardMatch tool.

Overall rating

Our rating: 4.8 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

Thanks to its lucrative everyday bonus categories, this card should earn its keep long after its intro APR period ends. It also carries a low balance transfer fee, so it could save you more overall than a card with a longer intro APR period and higher balance transfer fee.

Pros

• Along with an intro APR on new purchases, the card offers ongoing payment flexibility via Amex’s Plan It®, which lets you pay off qualifying purchases at a fixed monthly plan fee instead of facing interest charges.
• It offers one of the highest cash back rates you can get on groceries, gas and online shopping without paying an annual fee.

Cons

• Its intro APR period is relatively short, so it won’t be a great fit if your priority is getting as much time as possible to chip away at your balance.
• Its high-end APR is very high indeed, rivaling the rate you’ll find on cards for people with bad credit. That could prove costly if you carry a balance beyond your intro APR period.

Bottom Line

If you’re looking for a low-cost balance transfer card with terrific long-term value, this card is definitely worth a look.

Highlights

• Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
• No Annual Fee.
• Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
• 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
• 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
• 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
• Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
• Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
• Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
• Terms Apply.

Rates & Fees

Citi Double Cash® Card

Our rating: 4.1 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$544 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro balance transfer period 18 months Regular balance transfer APR 19.24% - 29.24% variable

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 4.1 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

It’s not always easy to find a card offering generous rewards along with favorable balance transfer terms, but the Citi Double Cash Card delivers both. With the opportunity to earn cash back on every eligible purchase, plus another cash back incentive when you pay your balance, you can rack up serious cash back rewards.

Pros

• The flexible flat rate makes it easy to rack up cash back without worrying about rotating categories.
• Existing Citi users can maximize earnings by pairing with a companion bonus category card and converting rewards to Citi ThankYou points.

Cons

• The introductory APR does not cover purchases, so this might not be the best way to finance a big ticket purchase.
• You’ll only earn 1% back on all purchases if you can’t avoid carrying a balance.

Bottom Line

Aside from having one of the longest APR introductory offers available for balance transfers, the Citi Double Cash Card also offers a straightforward way to earn rewards on all purchases without the hassle of tracking bonus categories.

Highlights

• Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
• Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
• Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%, based on your creditworthiness.
• Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
• If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
• There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

Rates & Fees

Balance Transfer Fee A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.

Wells Fargo Active Cash® Card

Our rating: 4.1 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$415 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% intro APR for 12 months from account opening on qualifying balance transfers Intro balance transfer period 0% intro APR for 12 months from account opening on qualifying balance transfers Regular balance transfer APR 20.24%, 25.24%, or 29.99% Variable APR

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 4.1 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

With a flat 2% cash rewards rate on purchases, a generous welcome bonus and intro APR offer for purchases and balance transfers, this card offers plenty of reasons why it’s one of the best flat-rate cards around.

Pros

• It comes with short- and long-term perks not found with other flat-rate cards.
• The spend requirement for the welcome bonus is not as high as the requirement for other top rewards cards.

Cons

• Other cards offer longer intro APR periods for purchases and balance transfers.
• The card’s cellphone protection is not as comprehensive as other cards.

Bottom Line

With its unlimited 2% cash rewards on purchases and great introductory APR period, the Wells Fargo Active Cash Card is great for both qualifying balance transfers and everyday spending.

Highlights

• Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
• Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
• Earn unlimited 2% cash rewards on purchases.
• 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
• $0 annual fee.
• No categories to track or remember and cash rewards don't expire as long as your account remains open.
• Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.

Rates & Fees

Intro Balance Transfers APR 0% intro APR for 12 months from account opening on qualifying balance transfers

Chase Freedom Unlimited®

Our rating: 5.0 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$490 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro balance transfer period 15 months Regular balance transfer APR 20.49% - 29.24% variable

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 5.0 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

The Chase Freedom Unlimited offers boosted cash back rates with generous intro APR periods for both purchases and balance transfers. It’s a great card for managing debt and earning rewards because you can earn plenty of cash back for routine purchases while whittling down your transferred balance.

Pros

• Intro APRs for purchases and balance transfers help manage current debt without losing the potential value of a new rewards card.
• Combines tiered categories with a boosted flat rate, increasing your overall cash back potential.

Cons

• This card’s ongoing APR is higher than other balance transfer cards’ ongoing APRs and could offset the rewards you earn fairly quickly if you carry a balance.
• Its intro APR is fairly short compared to the extended periods on other balance transfer cards.

Bottom Line

It’s a great card if you want to earn rewards while managing a modest transferred balance, but you should consider a card with a longer intro period and lower ongoing APR if you have substantial debt.

Highlights

• Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
• Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
• After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
• No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
• Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
• Member FDIC

Rates & Fees

Blue Cash Preferred® Card from American Express

Our rating: 4.6 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$419 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro balance transfer period 12 months Regular balance transfer APR 19.24% - 29.99% variable

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

See if you’re pre-approved for this card using our CardMatch tool.

Overall rating

Our rating: 4.6 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

This card earns high cash back rates on U.S. supermarkets, U.S. gas stations and U.S. streaming subscription purchases. Even though the Blue Cash Preferred puts a spending cap on your high-earning category and charges a $95 annual fee ($0 the first year), it’s easy for households to earn enough to offset the fee and make this card worth it.

Pros

• Its solid balance transfer offer can help you pay down modest debts.
• The U.S. streaming subscription bonus category can reward modern household budgets with cash back.

Cons

• While it has a good intro APR offer, other cash back credit cards have longer periods.
• The U.S. supermarket category excludes Walmart, Target and wholesale clubs (like Costco).

Bottom Line

The Blue Cash Preferred card has a intro APR offer on balance transfers that can help households pay down modest debts, but its true value lies in its highest-earning bonus categories.

Highlights

• Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
• $0 intro annual fee for the first year, then $95.
• Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
• Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%.
• 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
• 6% Cash Back on select U.S. streaming subscriptions.
• 3% Cash Back at U.S. gas stations.
• 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
• 1% Cash Back on other purchases.
• Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
• $84 Disney Bundle Credit: With your enrolled Blue Cash Preferred Card, spend $9.99 or more each month on an auto-renewing Disney Bundle subscription, to receive a monthly statement credit of $7. Valid only at Disney Plus.com, Hulu.com or Plus.espn.com in the U.S.
• Terms Apply.

Rates & Fees

Citi Custom Cash® Card

Our rating: 4.5 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$441 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro balance transfer period 15 months Regular balance transfer APR 19.24% - 29.24% variable

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 4.5 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

This card not only includes a solid intro APR offer, it also features one of the easiest reward programs around. When you use this card, you automatically earn a generous cash back amount on purchases made within the eligible everyday spending category you spend the most on. Although there is a cap on earnings each billing cycle, the earnings potential is substantial enough to consider.

Pros

• There’s no annual fee.
• Points can be pooled with other Citi ThankYou rewards.

Cons

• Rewards in your top spending category are capped to $500 each billing cycle.
• You may be missing out on potential earnings in other high spend categories.

Bottom Line

The Citi Custom Cash® Card is a simple-to-use cash back card that allows you to maximize rewards in your top spending category every month. Its generous APR offer makes this card especially attractive. And you’ll get it without having to pay an annual fee.

Highlights

• Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
• 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 19.24% - 29.24%, based on your creditworthiness.
• Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025.
• No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
• No Annual Fee
• Citi will only issue one Citi Custom Cash® Card account per person.

Rates & Fees

Balance Transfer Fee Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

Bank of America® Customized Cash Rewards credit card

Our rating: 4.4 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$466 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply. Intro balance transfer period 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply. Regular balance transfer APR 19.24% - 29.24% Variable APR on purchases and balance transfers

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 4.4 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

The Customized Cash Rewards card offers a generous intro APR offer on both purchases and balance transfers made within the first 60 days. It also has one of the most versatile rewards programs, letting you earn bonus points in an eligible category of your choosing.

Pros

• Choosing your own monthly bonus category offers a lot of flexibility in maximizing potential earnings.
• You can change your bonus category once a month.

Cons

• A $2,500 combined quarterly spending cap on bonus category rewards limits how much cardholders can earn.
• Redemption is limited to cash back options, like statement credits, checks or direct deposit into a Bank of America account.

Bottom Line

If you want to tackle credit card debt by way of a balance transfer, without sacrificing the potential to earn rewards, on everyday categories like gas and dining, then the Bank of America Customized Cash card could be a great match.

Highlights

• $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
• Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
• Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
• No annual fee and cash rewards don’t expire as long as your account remains open.
• 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
• Contactless Cards - The security of a chip card, with the convenience of a tap.
• This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Rates & Fees

Intro Balance Transfers APR 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply.

Bank of America® Unlimited Cash Rewards credit card

Our rating: 3.8 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$466 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply. Intro balance transfer period 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply. Regular balance transfer APR 19.24% - 29.24% Variable APR on purchases and balance transfers

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 3.8 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

The flexibility of 1.5% cash back on all purchases makes this card an appealing option for anyone looking to earn straightforward rewards without having to track bonus categories. And if you’re a Bank of America Preferred Rewards® member, you’re eligible for a rewards bonus that will boost this card’s rewards rate.

Pros

• This card charges no annual fee.
• Cash back rewards never expire as long as your account remains open and there's no cap on how much you can earn.

Cons

• If your spending tends to be focused in certain categories, you may be better off with a card that offers a high rewards rate on bonus categories.
• If you carry a balance, the higher APR could prove to be expensive after the intro period ends.

Bottom Line

For anyone considering a balance transfer or splurge purchase, this new flat rate card from Bank of America offers an excellent introductory APR along with unlimited cash back rewards and potential bonus earnings.

Highlights

• $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
• Earn unlimited 1.5% cash back on all purchases.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 1.87%-2.62% cash back on every purchase with Preferred Rewards.
• No annual fee.
• No limit to the amount of cash back you can earn and cash rewards don’t expire as long as your account remains open.
• 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
• Contactless Cards - The security of a chip card, with the convenience of a tap.
• This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

Rates & Fees

Intro Balance Transfers APR 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A fee of 3% for 60 days from account opening, then 4% will apply.

Citi® Diamond Preferred® Card

Our rating: 3.9 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Estimated balance transfer savings

$527 Savings over 24 months based on a transfer of $2,500 at a current APR of 15%
Learn more about our calculations More information Close This amount is the estimated savings over 24 months following a $2,500 balance transfer, compared to keeping the balance on a credit card with a 15% APR and making minimum payments of interest + 1% of the balance. The estimate includes the new card’s balance transfer fee and balance transfer intro period and assumes equal payments across the 24-month period aimed at paying off the debt.

After the intro period, remaining months assume the average APR in the card’s disclosed range. This estimate is a CreditCards.com calculation used for educational purposes and is not a guarantee of savings.

At A Glance

Intro balance transfer APR 0% Intro balance transfer period 21 months Regular balance transfer APR 18.24% - 28.99% variable

Recommended credit 670-850 (Good to Excellent) More information Close CreditCards.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Overall rating

Our rating: 3.9 More information Close Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. The score seen here reflects the card's primary category rating. For more information, you can read about how we rate our cards.

Why we like this card

This account offers one of the longest introductory APR offers for balance transfers, plus you have special access to concerts, restaurants and sporting events through Citi Entertainment®. For account holders focused solely on paying down debt, this card could be an essential part of their debt repayment plan while also offering some long-term value.

Pros

• It has a lengthy introductory APR on balance transfers.
• Lack of rewards points can focus users on paying down debt.

Cons

• Intro APR offer for purchases is disappointingly low.
• You could end up with a penalty APR of up to 29.99% if you don’t pay your bill on time, and it could last indefinitely.

Bottom Line

If you’re on the hunt for a solid balance transfer card to help you pay down credit card debt, or even to finance a big purchase, the Citi® Diamond Preferred® Card’s super long introductory offer on balance transfers is a hard one to beat. Just be sure you’ll make use of the card’s ancillary perks to justify having it.

Highlights

• 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.24% - 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
• There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
• Get free access to your FICO® Score online.
• With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
• No Annual Fee - our low intro rates and all the benefits don't come with a yearly charge.

Rates & Fees

Balance Transfer Fee Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

On this page

• Our top picks
• Balance transfer card details
• What is a balance transfer card?
• Pros and cons
• How to choose a balance transfer card
• Will a balance transfer hurt my credit score?
• Should I get a balance transfer card?
• Making the most of a balance transfer
• Our methodology
• Frequently asked questions

All information about the Chase Freedom Flex, and the BankAmericard credit card has been collected independently by CreditCards.com and has not been reviewed by the issuer.

Comparing the best balance transfer credit cards of 2024

Editor’s picks: Best balance transfer credit card details

Best for long intro APR: Wells Fargo Reflect® Card

• Best features: This card features one of the longest intro APR offers on the market, giving you ample time to pay off a larger purchase or tackle debt from other high-interest cards. With no rewards program, it’s an ideal card for those who want to focus solely on paying off a balance.
• Biggest drawbacks: The 5% balance transfer fee (minimum $5) is hefty compared to others and could tack on a significant amount to your balance transfer.
• Alternatives: The Wells Fargo Active Cash® Card is an excellent flat-rate cash rewards card with both an attractive ongoing rewards rate and a better welcome bonus, in addition to a great intro APR on purchases and qualifying balance transfers completed within the first 120 days.
• Bottom line: If you need a longer window of time to pay off existing high-interest debt or an upcoming large purchase, this card can’t be beat.

Best for everyday spending: Blue Cash Everyday® Card from American Express

• Best features: There aren’t a lot of balance transfer cards that offer rewards, and those that do are light on additional benefits. But the Blue Cash Everyday Card goes further, offering up generous rewards, a welcome offer, plenty of secondary benefits, and even two valuable credits for the Disney Bundle and Home Chef meal kits (subject to auto renewal) — all for no annual fee.
• Biggest drawbacks: If you make even one late payment, you could get hit with a high variable penalty APR that lasts at least six months. Combined with the late fee, that could add up to a lot of debt on top of what you already owe.
• Alternatives: The Wells Fargo Active Cash® Card has a great intro APR offer and you won’t have to worry about a penalty APR if you miss a payment. Plus, the card’s unlimited 2% cash rewards on purchases could be more useful if many of your everyday purchases fall outside the Blue Cash Everyday Card’s bonus categories (such as superstore or wholesale club purchases).
• Bottom line: This card’s cash back categories, intro offer and unique perks make the refreshed Blue Cash Everyday card a great choice for households.

Best for versatile rewards: Citi Double Cash® Card

• Best features: It comes with an impressively long introductory offer on balance transfers, but the base rewards are the real highlight. Cardholders can earn a generous flat rate that competes with the best rewards credit cards. Plus, there’s no annual fee.
• Biggest drawbacks: There’s no introductory APR offer for purchases, so you will incur interest on your purchases unless you pay in full each month. That can slow down your progress to paying off your debt. There’s also a high penalty APR if you make a late payment, which could leave stuck in a cycle of debt.
• Alternatives: The Blue Cash Everyday® Card from American Express has a generous intro APR offer for purchases and balance transfers. It also offers bonus categories rather than a flat cash back rate. Depending on your spending, you could potentially earn more on everyday purchases at U.S. supermarkets and U.S. gas stations.
• Bottom line: The Citi Double Cash Card gives you the versatility of a flat-rate cash back card coupled with one of the longest intro APR balance transfer offers available. Existing Citi customers already earning ThankYou points could earn even more by pairing this card.

Best for flat-rate cash rewards: Wells Fargo Active Cash® Card

• Best features: There aren’t a lot of flat-rate cards that offer all the perks you get with the Active Cash card. On top of the unlimited 2% cash rewards, you get a welcome bonus and generous intro APR offer on purchases and qualifying balance transfers.
• Biggest drawbacks: Rewards can only be redeemed for cash back and cannot be transferred to other programs.
• Alternatives: The Citi Double Cash Card isn’t as straightforward as the Active Cash card, but it does have a longer intro APR period for balance transfers.
• Bottom line: If you’re on the hunt for a simple flat-rate unlimited rewards card for day-to-day purchases that just so happens to have favorable balance transfer terms, the Wells Fargo Active Cash® Card should be at the top of your list.

Best for broad spending: Chase Freedom Unlimited

• Best features: Its modest intro APR periods and tiered rewards program make it a standout option for managing debt without sacrificing the value of a great cash back card.
• Biggest drawbacks: Its short intro APR periods can’t measure up to the intro APR periods on dedicated balance transfer cards.
• Alternative(s): For a longer intro APR and better flat cash back rate, consider the Citi Double Cash card. It earns up to 2 percent back on all purchases (1 percent when you buy, 1 percent when you pay your statement) and offers a slightly longer intro APR on balance transfers.
• Bottom line: If you spend reliably in this card’s tiered categories, you could earn a decent amount of cash back while managing your debt.

Read our full Chase Freedom Unlimited review or jump back to this card’s offer details.

Best for families: Blue Cash Preferred Card® from American Express

• Best features: It has a modest balance transfer intro APR offer and its high earning rates reward spending in modern household categories can reward families well.
• Biggest drawbacks: Its spending caps and category restrictions can limit your earnings. And you’ll have to work to offset the annual fee after the first year.
• Alternative: If you don’t want to worry about an annual fee and want a longer balance transfer intro APR, the Blue Cash Everyday® Card from American Express is worth a look.
• Bottom line: The Blue Cash Preferred is a staple credit card for households, just make sure to do the math that the annual fee is worth it after the intro APR period.

Best for automatically maximizing rewards: Citi Custom Cash® Card

• Best features: This cash back card comes with a solid introductory APR on balance transfers and purchases. You also earn high cash back rewards for purchases in your top spending category each billing cycle.
• Biggest drawbacks: The big drawback here is the balance transfer fee, which is 5% of the transferred balance (or $5, whichever is greater). That’s on the higher side for a balance transfer, with many other cards charging just 3%.
• Alternatives: While the Citi Custom Cash Card comes with a $500 spending cap in a single category each billing cycle, the Citi Double Cash Card lets you earn a flat rate on all purchases with no spending caps or select categories.
• Bottom line: This card is an option if you have a mid-level amount of card debt for a balance transfer but want to earn rewards once you’re finished paying down your debt. For higher debts, the 5% balance transfer fee can be hefty.

Best for everyday spending: Bank of America® Customized Cash Rewards credit card

• Best features: In addition to the lengthy intro APR period, cardholders earn bonus cash back in the category of their choice. There’s also an online cash rewards bonus, giving the card greater value.
• Biggest drawbacks: The introductory APR period for balance transfers is good, though certainly not the longest one out there. Plus, you’ll have to act fast —only balance transfers made within the first 60 days of opening an account qualify. A 3% intro balance transfer fee applies for 60 days from account opening, then 4%.
• Alternatives:The Chase Freedom Flex®* offers year-round cash back on Ultimate Rewards travel, dining and drugstore purchases, plus bonus cash back in rotating categories that you activate each quarter.
• Bottom line: Choosing your own monthly bonus category is a definite plus for anyone seeking flexibility in a cash back card, but be mindful of the spending caps. This card is best suited for earning rewards for everyday moderate spending.

Best for Preferred Rewards members: Bank of America® Unlimited Cash Rewards credit card

• Best features: Not only does this card feature an attractive intro APR on purchases and balance transfers, it also offers an unlimited 1.5% cash back on all eligible purchases, and you could earn even more if you are a Preferred Rewards member. Cardmembers can also earn a generous online cash rewards bonus.
• Biggest drawbacks: If you carry a balance past the introductory period, the interest you owe could be high, particularly if you end up at the high end of the card’s regular variable APR. Depending on your spending habits, a card that offers a high rewards rate on specific bonus categories may be a better option.
• Alternatives: The Wells Fargo Active Cash Card offers a great welcome bonus and intro APR period, but the Active Cash also comes with 2% cash rewards on purchases compared to just 1.5% on the Unlimited Cash Rewards card.
• Bottom line: Thanks to its competitive intro APR offer and the unlimited 1.5% cash back rewards, this is an excellent option for anyone hoping to tackle existing credit card debt or make a large purchase.

Best for no frills balance transfers: Citi® Diamond Preferred® Card

• Best features: This card pairs one of the longest balance transfer offers currently on the market with a potentially low go-to interest rate. Plus, you can enjoy added perks through the Citi Entertainment portal, Citi Flex Plan and Citi Easy Deals.
• Biggest drawbacks: You’ll pay a balance transfer fee of 5% (or $5, whichever is higher). This card doesn’t offer a base rewards program either, which might limit its long-term value.
• Alternatives: The BankAmericard offers a longer intro APR period on new purchases.
• Bottom line: So long as you’ve done the math on that 5% balance transfer fee (or $5, whichever is higher), the Citi Diamond Preferred is an attractive option for anyone hoping to pay down debt and doesn’t mind the lack of rewards.

Best for intro APR + low fees: Citi Simplicity® Card

• Best features: This card offers one of the longest intro APR offers around for balance transfers. And since it doesn’t charge a late fee or penalty APR, it’s far more forgiving than most credit cards if you forget to make a payment.
• Biggest drawbacks: This card does not have a rewards program, leaving it with little long-term value.
• Alternatives: TheU.S. Bank Visa® Platinum Card is another alternative worth considering. It also charges a lower balance transfer fee, so if you think you may take longer to complete your balance transfer this may be a better alternative.
• Bottom line: If you need to transfer high-interest credit card debt to a low-fee card, this may be a smart option due to the longer intro APR period for balance transfers.

Best for staying on track: Chase Slate Edge℠

• Best features: You can lower your ongoing APR by 2 percent each year if you pay on time and spend $1,000 before your next account anniversary. You’ll also unlock an automatic, one-time credit limit increase review when you spend $500 in your first six months. Both perks could come in handy as you finance purchases or build credit.
• Biggest drawbacks: The intro APR period is relatively short compared to some of the top balance transfer cards. The card also carries no rewards and few ongoing perks, limiting its value after you’ve paid off your balance.
• Alternatives: The right rewards card could help you pay off debt while also offering better long-term value. The Chase Freedom Unlimited® carries an intro APR offer and cash back on dining, travel and more. You’ll even earn 1.5% back on general purchases.
• Bottom line: While you can get a longer intro APR offer with other cards, this is one of the few that offers incentives like a lower APR or automatic credit limit increase review if you keep up with payments and meet the spending requirements.

Best for low interest: BankAmericard® credit card

• Best features: The BankAmericard offers one of the longest intro APR offers around, with the potential for a low interest rate afterwards.
• Biggest drawbacks: You’ll need to act fast to capitalize on the balance transfer offer, given it applies only to balances transferred in your first 60 days. You’ll pay an intro balance transfer fee of 3% for 60 days from account opening, then 4%.
• Alternatives: Besides offering a lengthy introductory APR period on both balance transfers and purchases, the Citi Simplicity® Card never charges late fees. That’s good news for cardholders who are occasionally late with their payment.
• Bottom line: This card has no rewards program, but that may not be a negative for cardholders with big balances. For larger debts, the balance transfer fee may sting a bit at 3%.

What is a balance transfer credit card?

If you’re ready to break out of credit card debt, you can take advantage of several different strategies. One of the most effective is to move an existing balance to another credit card that offers 0% APR on the transferred debt for a limited period.

The main benefits of a balance transfer credit card include:

• Avoiding interest. These cards are a great tool for temporarily avoiding interest charges since many offer a 0% intro offer of six to 18 months. By paying no interest for a period of time, you can potentially pay your balance off over a shorter period of time and pay less interest overall.
• Consolidating debt. A balance transfer card is an option if you want to simplify payments by combining them into one bill, making it easier for you to manage your debt and pay on time.
• Improving your credit score. After paying off your balance, you may find yourself with a higher credit score due to lowering your credit utilization ratio. Plus, you also expand your overall credit limit if you keep your original account open after paying off your debt.

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, and student loans.

One thing to consider is that most issuers will not let you transfer a balance from an existing account to another with that same issuer. Also, some issuers allow you to transfer multiple debts to one balance transfer card as a form of debt consolidation.

What is a balance transfer fee?

A balance transfer fee is a payment to transfer an existing credit card balance from one card to another. The issuer you’re transferring to charges the balance transfer fee.

The fee total depends on both the fee percentage and the total balance transferred. Most credit cards charge between three to five percent, often with a minimum fee of at least $5 to $10. So if a credit card charges a five percent balance transfer fee and you choose to transfer a $1,000 balance, the balance transfer fee amount is $50.

Pros and cons of balance transfer credit cards

Pros

• Avoid paying high interest. A balance transfer credit card with a 0% intro APR offer can save you hundreds of dollars if you can pay off all or most of the debt before the intro period ends.
• Consolidate debt. A balance transfer card offers the convenience of moving debt from multiple cards to one new card with an intro offer that you can then pay off in a single bill each month. Your minimum monthly payment may also be lower for one consolidated debt than your total payments for multiple accounts.
• Fast track repayment. A balance transfer card’s repayment schedule and lack of interest charges mean you’ll have the opportunity to get out of debt much faster than you would otherwise.
• Improve your credit score. By paying off your balance on the new card and keeping your old accounts open, you’ll lower your credit utilization ratio and improve your credit score.

Cons

• You can lose your low or zero-interest rate if you make late payments. It’s a good idea to set up an automatic payment through your bank and schedule it a few days before your due date to be on the safe side.
• More available credit can make it easy to keep incurring debt. You might be tempted to spend more with a new credit line. To avoid racking up more debt, track your credit card spending and make sure you are staying on budget.
• When the offer ends, your interest rate goes up. Once the intro APR offer ends, interest will begin to add to any remaining balance, so plan strategically to maximize your intro APR offer and pay off your debt during the intro period.
• Balance transfer fees can be steep. Most balance transfer cards have a balance transfer fee of up to 3% to 5% of the transfer. If you opt-out of a balance transfer card and just pay down the debt quickly, you may be better off.

How to choose a balance transfer credit card

Choosing the right balance transfer credit card may seem difficult— but if you ask the right questions before making a decision, you’ll have a much better idea of which one is right for you.

How long is the 0% intro APR period?

Not all balance transfer credit cards are created equal. Standout balance transfer cards offer introductory APR periods as long as 18 to 21 months. Always check the APR period first when deciding on a balance transfer credit card.

Do you need low-interest or zero-interest?

Although it seems obvious at first that you should take the card with 0% interest, that’s not always the case. A card with an ongoing low-interest rate might be best for you if you think you’ll need longer than the introductory period to pay off your debt completely.

What are the fees?

Watch out for fees that can make it harder to pay off your debt. While some balance transfer cards don’t charge a fee to transfer debt, most charge between 3% and 5% of the balance being moved. Also, avoid any late fees by paying on time and pay off the full balance before your introductory APR rate expires to avoid interest charges. If you’re unable to do so, make sure that the regular APR on the new account is lower, and scan the fine print to be sure a penalty APR isn’t involved.

Do you want a card with long-term value?

Balance transfer offers often provide excellent short-term value, but some cards may lack additional features. If you’re looking for a card you can use long after an intro APR period ends, look for one that offers rewards, especially if you intend to consistently pay your balances in full each month. Or a low-interest credit card with an intro APR offer and a low ongoing interest rate can be a good fit if you tend to carry a balance.

What card issuer do you prefer?

You won’t be allowed to transfer a balance from one card to another card with the same issuer, so keep this in mind as you’re selecting the best balance transfer card. While it may seem like this limits your options, it can help you narrow down which card issuer you end up choosing.

How much time do you need to make the transfer?

Many balance transfer cards have a strict transfer window you must transfer your balance within for the intro offer to apply, such as 30 or 90 days. Because there are different transfer windows, choose a card that aligns with how quickly or how often you want to transfer balances.

Some balance transfer cards are available without any transfer windows, so make note of that as well, especially if you’re unsure of your exact balance transfer timing. To avoid any issues with transfer windows, it’s best to initiate your transfer immediately.

Do you have the right credit score?

Most balance transfer cards offering competitive 0 percent introductory periods require good to excellent credit for both approval and qualifying for the best ongoing interest rates — which means at least 670 or higher on the FICO scale.

Even with bad credit, you may still qualify for a balance transfer card. However, your options are limited. If you’re concerned your credit score is too low for approval, you could try applying for a secured credit card or another credit-building card and start rebuilding your score to increase your approval odds in the future.

Will a balance transfer hurt my credit score?

Balance transfers do impact your credit score in a number of ways, including some that can both help and hurt your credit score.

How a balance transfer can hurt your credit score

When you complete a balance transfer, you will get a small, temporary ding to your score for applying for a new card, whether an issuer approves your application or not. Other factors, like payment history, outstanding balances, length of credit history, new credit and credit mix, also affect your score. Finally, your overall length of credit history will decrease when opening a new account.

However, though a balance transfer may hurt your score temporarily, paying off your balance will have a positive long-term impact.

How a balance transfer can help your credit score

Completing a balance transfer also means you may increase your overall available credit when you take out a new card, which could lower your credit utilization ratio. It’s recommended that you keep your credit utilization below 30%, so adding a new card can help maintain a positive ratio.

Also, since you are not accruing interest during the card’s intro period, it should be easier to pay off your balance. Eliminating or lowering any credit card debt will often have a significant positive impact on your credit score.

But you will need to be diligent about reducing your debt for a balance transfer to help your credit score in the long run.

Should I get a balance transfer credit card?

A balance transfer credit card can help you pay off debt faster, but it is not suited for everyone. Some cardholders will benefit from transferring their balances to a balance transfer credit card, while others may realize that another method of debt repayment makes more sense — as it all depends on your specific situation.

Who should get a balance transfer credit card

• The debt manager. If you’re currently carrying credit card debt on one (or more) credit cards, you’re a prime candidate for a balance transfer credit card. A top-notch offer can save you money on interest and help you pay down existing balances faster, given interest won’t accrue during the introductory period.
• The credit-builder. Paying off existing debt can improve your credit utilization rate, a core component of credit scores. Your credit utilization rate measures how much credit has been extended to you. If you’re unsure of your credit utilization ratio, you can use our credit utilization calculator to know where you stand.
• The strategist. If you’re a financial planner, then it’s important to find a card that will help meet your long-term financial goals. Balance transfer cards typically have low interest rates and allow you to pay off high-interest debt without sacrificing your finances later.

Who should skip a balance transfer credit card

• The rewards seeker. While some balance transfer credit cards do offer rewards, you can generally find more lucrative programs attached to traditional or premium rewards credit cards.
• The luxury traveler. Balance transfer credit cards rarely, if ever, offer travel perks, like complimentary lounge access, a free checked bag or travel insurance. If you’re in the market for those perks, consider a travel, airline or hotel credit card.
• The frequent revolver. If you tend to consistently carry at least some purchases over from month to month, you might be best served by a low-interest credit card, which offers a competitive APR for the long term vs. simply during an introductory period.

How to do a balance transfer

If you’re considering a balance transfer card, you may be wondering how much work goes into moving the balance from one card to another. Overall, the balance transfer process is relatively simple. Here are the steps you should follow:

1. Select and apply for the right balance transfer card. Each balance transfer card is unique, so the right card for you will depend on your individual needs. Do you need the most time to pay down a balance? Choosing a card with a very long intro offer on balance transfers may be a good fit. Are you hoping to finance a purchase if needed with your card? Picking one with an intro APR on purchases and balance transfers could be the way to go.
2. Thoroughly review the card’s terms and conditions. Each issuer has its own set of rules. For example, some companies may require you to complete the balance transfer within a specific time frame. You can find the information you need in a card’s Schumer Box, a standardized disclosure form that helps people understand the full scope of a card’s terms and conditions. Some of the most important terms to note will be the balance transfer fee (usually 3% or 5% of the transferred balance) and how long you have to pay the transferred debt back before the regular APR kicks in.
3. Initiate the transfer. Once you have selected, applied and been approved for a card, initiating the transfer is a simple process. You can initiate a transfer to the new card online or through your new card issuer’s mobile app.
4. Monitor your accounts and keep up with the minimum payments. Transfers usually take between five days and six weeks to complete. While you’re waiting, it’s important to continue making payments on your old card to maintain your credit-building efforts. Once the money is transferred to your new account, take note of the date and time so that you have a record of the successful transaction and can begin your payoff timeline.

Note: The process for how to do a balance transfer varies slightly from issuer to issuer. We’ve put together the resources below to provide more details on how some major credit card issuers conduct them.

• How to do a balance transfer with an American Express credit card
• How to do a balance transfer with a Bank of America credit card
• How to do a balance transfer with a Chase credit card
• How to do a balance transfer with a Citi credit card
• How to do a balance transfer with an HSBC credit card
• How to do a balance transfer with a U.S. Bank credit card

How to make the most of your balance transfer credit card

A balance transfer card can provide a fresh start but only when used properly. Once you find a card that’s right for you, stick to the plan and keep your spending in check. The following guidelines will help you get on track and stay the course:

• Look into high-limit credit cards. It’s possible to get approved for a card, but at a lower credit limit than the balance you’re looking to transfer. To increase the odds of qualifying for a credit limit that covers the full amount you’re trying to pay off, consider applying for these balance transfer cards that could offer you a high limit based on your creditworthiness.
• Avoid new, unplanned charges. While you might have a balance transfer credit card that offers rewards on spending or a 0% intro APR on new purchases for a limited time, make sure you have a plan before making new charges. That way, you won’t go into further debt. Focus instead on paying the transferred balance off before the card’s regular APR applies.
• Set up auto-payments to ensure you don’t miss a monthly bill. This step is particularly important with balance transfer credit cards, given some issuers note that their introductory terms are contingent on an account being in good standing (meaning a late payment can cost you that 0% introductory APR, even if the intro period hasn’t ended). Plus, late fees and penalty APRs will only add to your debt load.
• Pay off your balance before the promotional APR period ends. Many balance transfer credit cards charge average-to-high go-to interest rates, depending on your credit, so if you don’t pay balances back by the time the 0% introductory APR expires, you’ll risk foregoing any savings and getting caught in a cycle of debt. Draft a payment plan and consider redoing your budget to ensure you’re out of the red by the deadline.
• Look into low-interest offers. If you anticipate that you might still have a balance after the 0% intro APR offer ends, take a look at balance transfer cards with low-interest rates. Keep in mind that the better your credit, the lower your regular APR will likely be on a card.

Alternatives to a balance transfer

While a balance transfer can be a great tool, it’s also a new commitment. If you’re looking for breathing room rather than another card, here are some options:

• Consider getting a personal loan. If you need to pay off credit card debt swiftly – especially if you’re carrying high balances on numerous cards – a personal loan may be better than a balance transfer card. By combining multiple debts into a single payment, you could pay less interest over time and save money on fees.
• Get a credit-building card. If you’re concerned that your credit is not good enough yet to apply for a balance transfer card, then looking at a credit-building card could be a good option. Be aware that the interest can be high on these cards, so weigh your options carefully.
• Strategize a payment plan with a payoff calculator. Often, looking at the amount owed can be overwhelming. Instead of looking at the larger number, it can be beneficial to break it down into smaller, more manageable payments using a payoff calculator. Play around with the numbers until you find one you are comfortable with as a starting point.
• Negotiate with your card issuer. If you’re having a hard time paying off your credit card balances, you can try negotiating the debt with the credit card company. You can work with the credit card company to reduce your monthly payments, lower your interest rate or even lower your fees.

How we picked the best credit cards for balance transfers

In our research methodology: We analyzed 1,002 credit cards to identify the top balance transfer credit cards on the market. While a large number of factors contribute to the quality of a credit card, the following were our most important criteria in evaluating and choosing the best balance transfer cards:

• Length of 0% intro APR period: The longest balance transfer offers on the market currently offer 0% intro APR periods on balance transfers that last between 15 to 21 months. Historically, there have been offers that tout a 0% intro APR on balance transfers for close to two years.
• Balance transfer fee: Most credit cards charge a balance transfer fee between 3% to 5% of the transferred balance (minimums apply). A few cards have historically skipped the charge or waived the charge if a balance is transferred within a certain time period.
• Regular APR after the intro period: There’s always a chance that cardholders won’t pay their balance off by the time the 0% introductory APR expires. As such, we considered whether the go-to APR on that balance was reasonable, compared to the current industry average. (See the current average credit card interest rates.)
• Annual fee: The best balance transfer credit cards minimize the cost of a credit card so cardholders have more money to put toward their balance. As such, we more heavily weighted credit cards with no annual fee.

Our full criteria include 0% intro APR period for balance transfers, balance transfer fees, regular APR, savings period, current APR assumption, monthly payment assumption, other rates and fees, customer service, credit needed, security, ease of application, potential rewards and miscellaneous benefits.

More information on balance transfer credit cards

For more information on all things balance transfer cards and credit card debt, continue reading content from our credit card experts:

• Balance transfer calculator
• Why did my credit score drop after paying off debt?
• How to manage credit card debt as a possible recession looms

Frequently asked questions about balance transfer credit cards

What credit score do you need for a balance transfer card? + –

Most balance transfer credit cards offering competitive 0 percent introductory periods require a credit score in either the good or excellent range, which means at least 670 or higher on the FICO scale.

How much money can you save with a balance transfer? + –

Moving an existing debt from one credit card to another can potentially save a lot of money. Just how much money you’ll save depends on a number of factors, including your original APR, the introductory APR of your new balance transfer card, the duration of that introductory APR, as well as any fees associated with transferring that debt. The most common fee is the balance transfer fee, which is often worth the cost for saving more on interest overall. For example, the average American carries $5,910 in credit card debt. Here’s how a balance transfer card could help you pay that debt off even with a 3% fee of $165.75:

Based on the above scenario, after paying a 3% balance transfer fee, you could save over $750 using a balance transfer card to pay off your debt ($940.23 – $165.75 = $774.48).

In order to see if a balance transfer is your best option, use our balance transfer calculator to push the numbers. As you do, you’ll see top offers from Bankrate partners and an estimate of how much you could save if you take advantage of a balance transfer offer.

How much money can you save with a balance transfer? + –

Moving an existing debt from one credit card to another can potentially save a lot of money. Just how much money you’ll save depends on a number of factors, including your original APR, the introductory APR of your new balance transfer card, the duration of that introductory APR, as well as any fees associated with transferring that debt.

Let’s say you currently owe $3,800 on your current card. Your APR is currently 24% and your monthly payment is $250, which means you’d spend $775.74 in interest before finally paying off the card in 19 months. However, if you were to transfer that $3,800 to a balance transfer card with a 0% introductory APR offer for 18 months and a 3% fee on balance transfers, you would spend only $114 in fees and be able to pay the balance off in 16 months. That saves you $661.74 and three months!

What should I do if my balance transfer is denied? + –

If your application for a balance transfer card is denied, there may be other options, such as applying for a personal loan or asking your existing card issuer for a lower interest rate. You can also make an appeal with the issuer’s reconsideration department.

If your heart is set on getting a balance transfer card, you’ll likely need to improve your credit score. Track your spending and avoid applying for multiple cards until your score improves.

How much debt can I transfer with a balance transfer card? + –

It varies by issuer. Balance transfers are limited to a maximum amount equal to the account’s credit limit. A few card issuers may permit cardholders to transfer 100 percent of their existing balance, but if you want to move a large balance, your transfer limit may be capped in order to be approved.

How long do balance transfers take? + –

The time it takes to complete a balance transfer varies by card issuer, but generally you should expect the process to run anywhere from a few days to several weeks. Contact the issuer before initiating the transfer and confirm exactly how long the process will take to complete. If you’ve only recently opened the account, that could have an impact on your wait time.

Should I keep my balance transfer card after my balance is paid off? + –

It’s actually best to keep your balance transfer card after paying off your balance, even if you decide not to use it. Closing an account shortens the length of your credit history, which can negatively impact your credit score. It will also affect your credit utilization ratio, since the amount of available credit you have access to decreases. And if your new card has perks, like extended warranty coverage, or offers rewards, you can still enjoy these benefits even after you pay off your balance.

However, if your balance transfer card has an annual fee you can’t offset every year or you are worried about overspending with multiple credit cards, then closing the account might be the better option.