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Balance Transfer

The Best Balance Transfer Credit Cards

A balance transfer credit card typically allows you to transfer your high interest credit card debt to a card that has 0% on the balances transferred for a limited period (usually 6 to 18 months).  Other balance transfer cards may offer a low interest rate on balances transferred for the life of the amount transferred.

If you have a significant amount of credit card debt and revolve your balances (i.e., don’t pay your credit card in full each month) a balance transfer credit card can help give some breathing room as you pay down your debt.  Just be aware of transfer fees and don’t accrue additional debt.  Apply online for your balance transfer card today and stop paying an exorbitant amount on interest

Category
Monthly Spend
Balance
  • 0% Intro APR on purchases and balance transfers for the first 15 months from account opening. Then a variable APR of 14.24%, 20.24% or 25.24% will apply.
  • No Penalty APR.
  • Late Fee Waiver.
  • No Foreign Transaction Fees.
  • $0 Annual Fee.
  • $0 liability for unauthorized purchases.
  • Terms Apply.
 

 Card Rating

 Credit Needed

 Good, Excellent

 
  • 3% Cash Back1 at Coffee Shops, Fast Food Locations and on Ridesharing Services2
  • 2% Cash Back1 at Gas Stations2 and Restaurants2
  • Plus, 1% Cash Back1on all other purchases! Cash Back redemption is applied as a statement credit.
  • Unlimited Cash Back1on every purchase - no rotating categories, no sign ups and no point caps
  • 0% Intro APR3for 12 monthly billing cycles for purchases and balance transfers, then 12.49% - 22.49% Variable APR4. Balance Transfer fee of 5%, $10 minimum.
  • $0 Annual Fee*
 

 Card Rating

 Credit Needed

 Excellent, Good

 
  • New Cardmember bonus: $150 after you spend $500 in eligible net purchases in the first 90 days of account opening.
  • 5% cash back on your first $2,000 in eligible net purchases each quarter on the combined two categories you choose.
  • 2% cash back on your choice of one everyday category, like gas stations or grocery stores.
  • 1% cash back on all other eligible net purchases.
  • No limit on total cash back earned.
  • 0% Intro APR* on balance transfers for 12 billing cycles. After that, a variable APR currently 16.24% - 25.74%
  • No annual fee*
  • Great Offer from U.S. Bank, a 2019 World's Most Ethical Company® - Ethisphere Institute, February 2019
 

 Card Rating

 Credit Needed

 Good,Excellent

 
  • Earn unlimited 1.5% cash rewards on all purchases.
  • Earn an Introductory 3% Cash Back on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases
  • 10% Anniversary Bonus on all Cash Rewards earned once a year.
  • No Annual Fee.
  • 0% Intro APR for 12 months on purchases and balance transfers, then a 15.24%, 19.24% or 25.24% variable APR.
  • No Foreign Transaction Fees.
  • $0 liability for unauthorized purchases.
  • Terms Apply.
 

 Card Rating

 Credit Needed

 Good, Excellent

 
  • 40,000 Bonus LifeMiles after first card use
  • Earn 3 LifeMiles per $1 spent on Avianca purchases
  • Earn 2 LifeMiles per $1 spent at gas stations and grocery stores
  • Earn 1 LifeMile per $1 spent on all other purchases
  • No foreign transaction fees
  • 15% discount on purchases of miles with Multiply Your Miles
  • Free additional piece of baggage for travel between the United States and Central America
  • A 50% discount on an award ticket redeemed for travel to Central America or Colombia from the United States after $12,000 spent each year
  • An additional 50% discount on an award ticket redeemed for travel to Central America or Colombia from the United States after $24,000 spent each year
  • 0% Introductory offer for 12 months on Balance Transfers
  • Chip-enabled card provides added security
  • Auto Rental Collision Damage Waiver
  • Travel Accident Insurance
  • Protection against unauthorized charges
  • Emergency Card Replacement
  • Online Account Management
  • Electronic Statements
  • Auto-pay option
 

 Card Rating

 Credit Needed

 Excellent, Good

 
  • 20,000 Bonus LifeMiles after first card use
  • Earn 2 LifeMiles per $1 spent on Avianca purchases
  • Earn 1 LifeMile per $1 spent on all other purchases
  • 15% discount on purchases of miles with Multiply Your Miles
  • No cap on the number of LifeMiles you can earn
  • 0% Introductory offer for 12 months on Balance Transfers
  • Chip-enabled card provides added security
  • Auto Rental Collision Damage Waiver
  • Travel Accident Insurance
  • Protection against unauthorized charges
  • Emergency Card Replacement
  • Online Account Management
  • Electronic Statements
  • Auto-pay option
 

 Card Rating

 Credit Needed

 Excellent, Good

 
These quotes are from credit card issuers which have paid for a link to their website. Offers are subject to change without notice and may not be the same for all consumers.
Best Balance Transfer Credit Cards for 2012

It can creep up on you over time or be the result of one expensive day: a balance on your credit card that simply can't be paid off by the end of the month. No one likes finance charges, and worse yet, the cost of interest makes your principal even harder to pay down.

But you do have an option when you find yourself carrying a balance from month to month: opening a balance transfer credit card. The best balance transfer cards can help you store debt interest-free until you're able to pay it off, saving you money every month in finance charges.

Who are balance transfer credit cards best for?

It can be frustrating to find that the principal balance on your credit card is hardly being touched by the payments you're making each month. Making progress on debt becomes even more challenging when your card has an annual percentage rate (APR) of more than 20 percent.

But balance transfer credit cards offer favorable terms for moving debts from other cards. Many cards charge a separate APR (annual percentage rate) for balance transfers than for new purchases. On ordinary cards, these transfer rates may be higher than the rates for new purchases, but a card favorable to balance transfers may offer either a temporary or longer-term lower rate on balance transfers. The best introductory offers often offer 0 percent interest for 12 months or more.

But introductory deals begin when you open the account, which means it's wise to move your balances over quickly. Sometimes, the special rates are also contingent on transferring a balance within a set period of time--say, 30 days after opening your account.

What are the drawbacks?

There are a few possible drawbacks to balance transfer cards:

  • Time limits. Because many of these offers have time limits, you could find yourself with a steep APR before you've paid off the balance. Your best bet? Make a specific plan for how to knock off that balance when you open the card, and keep a close eye on your calendar.
  • Issues with other terms. A great deal on balance transfers can mask less-favorable terms on the card, such as a higher standard APR or annual fees. Always evaluate all of the card's terms and features before making a choice--especially if you plan to continue to use the card after the introductory offer.
  • Limited eligibility. As with any card offer, you may be eligible only if you have good to excellent credit. If you have trouble being approved for one of these cards, work on improving your creditworthiness with regular, timely payments to your existing accounts.

How can you get a balance transfer card?

Many card companies and financial institutions offer great deals on balance transfers. Checking websites that review card offers is a great way to find the best current offers. Just remember to study all of the card's terms to make sure it meets your needs before you apply.

If you're facing a large card balance you can't currently pay off, a year of little-to-no interest could help you get back on track. And the best balance transfer cards can provide just that--and often more.

Top Cards by Category

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