Banks may have different steps for completing a balance transfer. Learn what the steps are for these popular issuers:
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December 1, 2022
*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This article was last updated December 1, 2022 . Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
It offers one of the longest intro APR periods for both purchases and balance transfers, giving you plenty of breathing room to pay down debt interest-free. It also charges a reasonable balance transfer fee.
If you have a large amount of high-interest credit card debt, a balance transfer credit card with a 0% intro APR for a year or longer can help you save money while paying down your balance faster. The best balance transfer credit cards have 0% intro APR periods of 12 to 21 months, reasonable balance transfer fees and no annual fee. You can enjoy a no-interest period until 2023 — or even 2024 with some cards.
Balance transfer credit cards allow 100% of your monthly payment to go to the principal balance instead of the balance plus interest charges during the 0% intro APR period. The best balance transfer credit cards below are based on the cards available on LendingTree, as well as the top cards offered by major issuers.
| Credit Card | Intro Balance Transfer Rate | Regular Balance Transfer Rate | Balance Transfer Fee | Recommended Credit | Card Review |
|---|---|---|---|---|---|
Wells Fargo Reflect® Card
|
0% intro APR up to 21 months from account opening on qualifying balance transfers | 16.74% - 28.74% variable APR | 3% for 120 days from account opening, then up to 5%; min: $5 | Excellent/Good | Wells Fargo Reflect® Card Review |
Citi® Diamond Preferred® Card
|
0% for 21 months on Balance Transfers | 16.74% - 27.49% (Variable) | Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum. | Excellent/Good | Citi® Diamond Preferred® Card Review |
Citi Simplicity® Card
|
0% for 21 months on Balance Transfers | 17.74% - 28.49% (Variable) | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. Then a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum. | Excellent/Good | Citi Simplicity® Card Review |
U.S. Bank Visa® Platinum Card
|
0% intro APR for 18 billing cycles on Balance Transfers | 18.24% -28.24% (Variable) | Either 3% of the amount of each transfer or $5 minimum, whichever is greater | Excellent/Good | U.S. Bank Visa® Platinum Card Review |
BankAmericard® credit card
|
0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days | 15.74% - 25.74% Variable APR on balance | Either $10 or 3% of the amount of each transaction, whichever is greater. | Excellent/Good | BankAmericard® credit card Review |
Discover it® Balance Transfer
|
0% Intro APR for 18 months | 15.74% - 26.74% Variable APR | 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* | Excellent/Good | Discover it® Balance Transfer Review |
Chase Slate Edge℠
|
0% Intro APR on Balance Transfers for 18 months. | 18.74% - 27.49% Variable | Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater. | Excellent/Good | Chase Slate Edge℠ Review |
Citi® Double Cash Card – 18 month BT offer
|
0% for 18 months on Balance Transfers | 17.74% - 27.74% (Variable) | There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. | Excellent/Good | Citi® Double Cash Card – 18 month BT offer Review |
Choice Rewards World Mastercard®
|
0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening. | 11.25% to 18.00% (variable) | $0 | Excellent/Good | Choice Rewards World Mastercard® Review |
Discover it® Student Cash Back
|
10.99% Intro APR for 6 months | 16.74% - 25.74% Variable APR | 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* | Fair/Limited | Discover it® Student Cash Back Review |
Discover it® Secured Credit Card
|
10.99% Intro APR for 6 months | 26.74% Variable APR | 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* | Poor/Limited | Discover it® Secured Credit Card Review |
|
U.S. Bank Business Platinum Card
|
0% intro APR on balance transfers for 18 billing cycles | 14.99% - 23.99% (Variable) | Either 3% of the amount of each transfer or $5 minimum, whichever is greater | Excellent/Good | U.S. Bank Business Platinum Card Review |
Intro APR on balance transfers: 0% intro APR up to 21 months from account opening — then 16.74% - 28.74% variable APR
Balance transfer fee:Â 3% for 120 days from account opening, then up to 5%; min: $5
Why we picked this card: If you need a long intro APR period to pay off debt transferred from another card or finance a big purchase over time, the Wells Fargo Reflect® Card offers one of the longest intro APR periods currently available on balance transfers. Cardholders receive a 0% intro APR up to 21 months from account opening on qualifying balance transfers on balance transfers. After that, a 16.74% - 28.74% variable APR applies.
| Pros | Cons |
|---|---|
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If you need a year and a half or longer to pay off a transferred balance, the Wells Fargo Reflect® Card could be a good fit. The card offers an interest-free period on balance transfer for 18 months, as well as an intro APR extension of up to three months with on-time minimum payments during the introductory period and extension periods.
The Wells Fargo Reflect® Card also offers a 0% intro APR up to 21 months from account opening on purchases, then a 16.74% - 28.74% variable APR.
Although the card comes with a $0 annual fee, it does charge a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5.
Intro APR on balance transfers: 0% intro APR up to 21 months from account opening — then 16.74% - 28.74% variable APR
Balance transfer fee:Â 3% for 120 days from account opening, then up to 5%; min: $5
Why we picked this card: If you need a long intro APR period to pay off debt transferred from another card or finance a big purchase over time, the Wells Fargo Reflect® Card offers one of the longest intro APR periods currently available on balance transfers. Cardholders receive a 0% intro APR up to 21 months from account opening on qualifying balance transfers on balance transfers. After that, a 16.74% - 28.74% variable APR applies.
| Pros | Cons |
|---|---|
|
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If you need a year and a half or longer to pay off a transferred balance, the Wells Fargo Reflect® Card could be a good fit. The card offers an interest-free period on balance transfer for 18 months, as well as an intro APR extension of up to three months with on-time minimum payments during the introductory period and extension periods.
The Wells Fargo Reflect® Card also offers a 0% intro APR up to 21 months from account opening on purchases, then a 16.74% - 28.74% variable APR.
Although the card comes with a $0 annual fee, it does charge a balance transfer fee of 3% for 120 days from account opening, then up to 5%; min: $5.
Citi is an advertising partner.
Intro APR on balance transfers: 0% for 21 months on Balance Transfers, then 16.74% - 27.49% (variable) APR
Balance transfer fee: Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Why we picked this card: While the majority of balance transfer cards come with a balance transfer window — the amount of time you have to take advantage of the card’s intro APR on balance transfers — of 60 days from the date of opening your account, the Citi® Diamond Preferred® Card has a four month window. Additionally, the card offers an intro APR on balance transfers for close to two years.
| Pros | Cons |
|---|---|
|
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If you don’t plan on initiating a balance transfer right away, the Citi® Diamond Preferred® Card may be ideal. Along with offering an intro APR of 0% for 21 months on Balance Transfers, then an APR of 16.74% - 27.49% (Variable), the card comes with a four-month balance transfer window.
Additionally, the Citi® Diamond Preferred® Card comes with a $0 annual fee and an intro APR of 0% for 12 months on Purchases, then 16.74% - 27.49% (Variable) APR.
This card does not offer a rewards program, and a balance transfer fee of balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Citi is an advertising partner.
Intro APR on balance transfers: 0% for 21 months on Balance Transfers, then 16.74% - 27.49% (variable) APR
Balance transfer fee: Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Why we picked this card: While the majority of balance transfer cards come with a balance transfer window — the amount of time you have to take advantage of the card’s intro APR on balance transfers — of 60 days from the date of opening your account, the Citi® Diamond Preferred® Card has a four month window. Additionally, the card offers an intro APR on balance transfers for close to two years.
| Pros | Cons |
|---|---|
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If you don’t plan on initiating a balance transfer right away, the Citi® Diamond Preferred® Card may be ideal. Along with offering an intro APR of 0% for 21 months on Balance Transfers, then an APR of 16.74% - 27.49% (Variable), the card comes with a four-month balance transfer window.
Additionally, the Citi® Diamond Preferred® Card comes with a $0 annual fee and an intro APR of 0% for 12 months on Purchases, then 16.74% - 27.49% (Variable) APR.
This card does not offer a rewards program, and a balance transfer fee of balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Intro APR on balance transfers: 0% for 21 months on Balance Transfers, then 17.74% - 28.49% (Variable) APR
Balance transfer fee: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. Then a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Why we picked this card: With most credit cards, if you miss a payment, you could be subject to late fees and a higher APR (a penalty rate). However, the Citi Simplicity® Card has no late fees or penalty APR, providing cardholders a little extra peace of mind. Still, you should always make an effort to pay on time, as late payments will damage your credit score.
| Pros | Cons |
|---|---|
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You always want to pay your credit card on time — doing so will help you build good credit and make life easier, if down the road you need to apply for other credit cards or financial products (like car loans and mortgages). However, if you want peace of mind that your card won’t charge you a late fee or increase your APR in the event you do miss a payment, you’ll appreciate the Citi Simplicity® Card.
Plus, the $0 annual fee card offers an intro APR of 0% for 21 months on Balance Transfers, then a 17.74% - 28.49% (Variable) APR applies. A there is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. Then a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum..
There is also an intro APR of 0% for 12 months on Purchases, then a 17.74% - 28.49% (Variable) APR applies.
Intro APR on balance transfers: 0% for 21 months on Balance Transfers, then 17.74% - 28.49% (Variable) APR
Balance transfer fee: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. Then a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Why we picked this card: With most credit cards, if you miss a payment, you could be subject to late fees and a higher APR (a penalty rate). However, the Citi Simplicity® Card has no late fees or penalty APR, providing cardholders a little extra peace of mind. Still, you should always make an effort to pay on time, as late payments will damage your credit score.
| Pros | Cons |
|---|---|
|
|
You always want to pay your credit card on time — doing so will help you build good credit and make life easier, if down the road you need to apply for other credit cards or financial products (like car loans and mortgages). However, if you want peace of mind that your card won’t charge you a late fee or increase your APR in the event you do miss a payment, you’ll appreciate the Citi Simplicity® Card.
Plus, the $0 annual fee card offers an intro APR of 0% for 21 months on Balance Transfers, then a 17.74% - 28.49% (Variable) APR applies. A there is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. Then a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum..
There is also an intro APR of 0% for 12 months on Purchases, then a 17.74% - 28.49% (Variable) APR applies.
Intro APR on balance transfers: 0% intro APR for 18 billing cycles on Balance Transfers, then 18.24% -28.24% (Variable) APR
Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Why we picked this card: Along with offering a lengthy intro APR on balance transfers, the U.S. Bank Visa® Platinum Card lets cardholders choose their own payment due date. The card also has a $0 annual fee and reasonable balance transfer fee.
| Pros | Cons |
|---|---|
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If you want the flexibility to choose a payment due date that fits your schedule, the U.S. Bank Visa® Platinum Card could be a good fit. Note, when selecting your payment due date, not all dates may be available.
Along with a 0% intro APR for 18 billing cycles on Balance Transfers, then 18.24% -28.24% (Variable) APR, the card comes with a 0% intro APR for 18 billing cycles on Purchases, then 18.24% -28.24% (Variable) APR.
There is a balance transfer fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater. Additionally, this card does not offer a rewards program.
Intro APR on balance transfers: 0% intro APR for 18 billing cycles on Balance Transfers, then 18.24% -28.24% (Variable) APR
Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Why we picked this card: Along with offering a lengthy intro APR on balance transfers, the U.S. Bank Visa® Platinum Card lets cardholders choose their own payment due date. The card also has a $0 annual fee and reasonable balance transfer fee.
| Pros | Cons |
|---|---|
|
|
If you want the flexibility to choose a payment due date that fits your schedule, the U.S. Bank Visa® Platinum Card could be a good fit. Note, when selecting your payment due date, not all dates may be available.
Along with a 0% intro APR for 18 billing cycles on Balance Transfers, then 18.24% -28.24% (Variable) APR, the card comes with a 0% intro APR for 18 billing cycles on Purchases, then 18.24% -28.24% (Variable) APR.
There is a balance transfer fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater. Additionally, this card does not offer a rewards program.
Intro APR on balance transfers: 0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days, then 15.74% - 25.74% Variable APR on balance
Balance transfer fee: Either $10 or 3% of the amount of each transaction, whichever is greater.
Why we picked this card: While we recommend paying your transferred balance in full before the introductory period ends to avoid incurring interest charges, that may not always be possible. If you think you’ll still have a balance past the intro APR period, doing so on a card with a low ongoing APR, like the BankAmericard® credit card, is ideal.
| Pros | Cons |
|---|---|
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If you don’t think you’ll be able to pay off the total transferred amount during the intro APR period, the BankAmericard® credit card may be ideal — especially if you can qualify for the low end of the interest rate. The card offers a 0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days. After that, a 15.74% - 25.74% Variable APR on balance applies.
The card also has a 0% Intro APR for 21 billing cycles for purchases, then a 15.74% - 25.74% Variable APR applies.
Just know, the $0 annual fee card doesn’t offer rewards for the purchases you make. There is also a balance transfer fee of either $10 or 3% of the amount of each transaction, whichever is greater.
Intro APR on balance transfers: 0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days, then 15.74% - 25.74% Variable APR on balance
Balance transfer fee: Either $10 or 3% of the amount of each transaction, whichever is greater.
Why we picked this card: While we recommend paying your transferred balance in full before the introductory period ends to avoid incurring interest charges, that may not always be possible. If you think you’ll still have a balance past the intro APR period, doing so on a card with a low ongoing APR, like the BankAmericard® credit card, is ideal.
| Pros | Cons |
|---|---|
|
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If you don’t think you’ll be able to pay off the total transferred amount during the intro APR period, the BankAmericard® credit card may be ideal — especially if you can qualify for the low end of the interest rate. The card offers a 0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days. After that, a 15.74% - 25.74% Variable APR on balance applies.
The card also has a 0% Intro APR for 21 billing cycles for purchases, then a 15.74% - 25.74% Variable APR applies.
Just know, the $0 annual fee card doesn’t offer rewards for the purchases you make. There is also a balance transfer fee of either $10 or 3% of the amount of each transaction, whichever is greater.
Intro APR on balance transfers: 0% Intro APR for 18 months, then 15.74% - 26.74% Variable APR
Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Why we picked this card: Discover it® Balance Transfer holders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
The card also offers the following sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
| Pros | Cons |
|---|---|
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If you want to earn a generous amount of cash back in popular categories that rotate each quarter from a balance transfer card, the Discover it® Balance Transfer is a good option. But keep in mind, we generally recommend avoiding new spending on a balance transfer credit card until you’ve paid off your transferred debt in full. That way, you can focus on getting out of debt, rather than adding to it. Once you’ve paid in full, you can begin using the Discover it® Balance Transfer for everyday expenses.
The Discover it® Balance Transfer offers a 0% Intro APR for 18 months on balance transfers. After that, a 15.74% - 26.74% Variable APR applies. There is a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
Additionally, the $0 annual fee card comes with a 0% Intro APR for 6 months, then a 15.74% - 26.74% Variable APR applies.
Intro APR on balance transfers: 0% Intro APR for 18 months, then 15.74% - 26.74% Variable APR
Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Why we picked this card: Discover it® Balance Transfer holders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
The card also offers the following sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
| Pros | Cons |
|---|---|
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If you want to earn a generous amount of cash back in popular categories that rotate each quarter from a balance transfer card, the Discover it® Balance Transfer is a good option. But keep in mind, we generally recommend avoiding new spending on a balance transfer credit card until you’ve paid off your transferred debt in full. That way, you can focus on getting out of debt, rather than adding to it. Once you’ve paid in full, you can begin using the Discover it® Balance Transfer for everyday expenses.
The Discover it® Balance Transfer offers a 0% Intro APR for 18 months on balance transfers. After that, a 15.74% - 26.74% Variable APR applies. There is a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
Additionally, the $0 annual fee card comes with a 0% Intro APR for 6 months, then a 15.74% - 26.74% Variable APR applies.
Intro APR on balance transfers: 0% Intro APR on Balance Transfers for 18 months. Then a 18.74% - 27.49% Variable APR applies
Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater.
Why we picked this card: Along with a solid intro APR on balance transfers, the Chase Slate Edge℠ provides the opportunity to lower your regular interest rate from its initial rate. Additionally, new cardholders receive an automatic review for a higher credit limit when you pay on time and spend $500 in your first six months.
| Pros | Cons |
|---|---|
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If you’re looking for a balance transfer card that offers the opportunity to reduce your APR, the Chase Slate Edge℠ can be a great option. The card offers a 0% Intro APR on Balance Transfers for 18 months. After that, a regular APR of 18.74% - 27.49% Variable applies.
When you pay on time and spend $1,000 on your card in an account anniversary year, you’ll be automatically considered for an APR reduction of 2%. Note that the lowest your APR can go is the Prime Rate plus 9.74%, and your final APR reduction could be less than 2%.
This card charges a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater.
The Chase Slate Edge℠ also offers a 0% Intro APR on Purchases for 18 months. After that, a 18.74% - 27.49% Variable APR applies.
Intro APR on balance transfers: 0% Intro APR on Balance Transfers for 18 months. Then a 18.74% - 27.49% Variable APR applies
Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater.
Why we picked this card: Along with a solid intro APR on balance transfers, the Chase Slate Edge℠ provides the opportunity to lower your regular interest rate from its initial rate. Additionally, new cardholders receive an automatic review for a higher credit limit when you pay on time and spend $500 in your first six months.
| Pros | Cons |
|---|---|
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If you’re looking for a balance transfer card that offers the opportunity to reduce your APR, the Chase Slate Edge℠ can be a great option. The card offers a 0% Intro APR on Balance Transfers for 18 months. After that, a regular APR of 18.74% - 27.49% Variable applies.
When you pay on time and spend $1,000 on your card in an account anniversary year, you’ll be automatically considered for an APR reduction of 2%. Note that the lowest your APR can go is the Prime Rate plus 9.74%, and your final APR reduction could be less than 2%.
This card charges a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater.
The Chase Slate Edge℠ also offers a 0% Intro APR on Purchases for 18 months. After that, a 18.74% - 27.49% Variable APR applies.
Intro APR on balance transfers: 0% for 18 months on Balance Transfers, then 17.74% - 27.74% (Variable) APR
Balance transfer fee: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Why we picked this card: The Citi® Double Cash Card comes with a lengthy intro APR period on balance transfers, as well as a great flat-rate cash back program. Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
| Pros | Cons |
|---|---|
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If you want a card you can keep around after paying off your transferred balance, the Citi® Double Cash Card is a good choice. Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Just be aware you have to make at least the minimum payment on time to receive the second half of your cash back.
The card charges a $0 annual fee and offers an intro APR of 0% for 18 months on Balance Transfers. After that, a 17.74% - 27.74% (Variable) APR applies.
Additionally, there is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Intro APR on balance transfers: 0% for 18 months on Balance Transfers, then 17.74% - 27.74% (Variable) APR
Balance transfer fee: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Why we picked this card: The Citi® Double Cash Card comes with a lengthy intro APR period on balance transfers, as well as a great flat-rate cash back program. Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
| Pros | Cons |
|---|---|
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If you want a card you can keep around after paying off your transferred balance, the Citi® Double Cash Card is a good choice. Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Just be aware you have to make at least the minimum payment on time to receive the second half of your cash back.
The card charges a $0 annual fee and offers an intro APR of 0% for 18 months on Balance Transfers. After that, a 17.74% - 27.74% (Variable) APR applies.
Additionally, there is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Intro APR on balance transfers: 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening., then 11.25% to 18.00% (variable)
Balance transfer fee:Â $0
Why we picked this card: Unlike the majority of balance transfer credit cards that charge balance transfer fees of 3% to 5% of the amount of each transaction, the Choice Rewards World Mastercard® charges a $0 balance transfer fee. This can potentially save you hundreds of dollars in fees when transferring a large balance to the card.
| Pros | Cons |
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If you want to transfer existing credit card debt to a card with a lower interest rate and no balance transfer fee, the Choice Rewards World Mastercard® is a good option. In addition to a $0 balance transfer fee and an intro APR on balance transfers for a year, the card has a low ongoing APR of 11.25% to 18.00% (variable).
The card also offers 2 points per $1 spent on groceries, gas, electronics, medical, household goods and telecommunications, and 1 point per $1 spent on everything else. Plus, 20,000 bonus points for spending at least $3,000 in first 60 days.
Just know, since First Tech FCU is a credit union, membership is required. If you don’t qualify for membership, you can become a member by either joining the Financial Fitness Association for $8 or the Computer History Museum for $15.
Intro APR on balance transfers: 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening., then 11.25% to 18.00% (variable)
Balance transfer fee:Â $0
Why we picked this card: Unlike the majority of balance transfer credit cards that charge balance transfer fees of 3% to 5% of the amount of each transaction, the Choice Rewards World Mastercard® charges a $0 balance transfer fee. This can potentially save you hundreds of dollars in fees when transferring a large balance to the card.
| Pros | Cons |
|---|---|
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If you want to transfer existing credit card debt to a card with a lower interest rate and no balance transfer fee, the Choice Rewards World Mastercard® is a good option. In addition to a $0 balance transfer fee and an intro APR on balance transfers for a year, the card has a low ongoing APR of 11.25% to 18.00% (variable).
The card also offers 2 points per $1 spent on groceries, gas, electronics, medical, household goods and telecommunications, and 1 point per $1 spent on everything else. Plus, 20,000 bonus points for spending at least $3,000 in first 60 days.
Just know, since First Tech FCU is a credit union, membership is required. If you don’t qualify for membership, you can become a member by either joining the Financial Fitness Association for $8 or the Computer History Museum for $15.
Intro APR on balance transfers: 10.99% Intro APR for 6 months, then 16.74% - 25.74% Variable APR
Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Why we picked this card: The Discover it® Student Cash Back is one of the few credit cards designed for those with fair credit that offers an intro APR on balance transfers.
| Pros | Cons |
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If you are a student with fair/limited credit who wants to transfer your existing credit card debt to a card with a lower interest rate, the Discover it® Student Cash Back is a solid choice.
Along with offering a 10.99% Intro APR for 6 months on balance transfers, then a 16.74% - 25.74% Variable APR, the card charges a $0 annual fee. The card also offers a 0% Intro APR for 6 months on purchases, then a 16.74% - 25.74% Variable APR.
Discover it® Student Cash Back cardholders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
The card also offers the following sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Intro APR on balance transfers: 10.99% Intro APR for 6 months, then 16.74% - 25.74% Variable APR
Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Why we picked this card: The Discover it® Student Cash Back is one of the few credit cards designed for those with fair credit that offers an intro APR on balance transfers.
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If you are a student with fair/limited credit who wants to transfer your existing credit card debt to a card with a lower interest rate, the Discover it® Student Cash Back is a solid choice.
Along with offering a 10.99% Intro APR for 6 months on balance transfers, then a 16.74% - 25.74% Variable APR, the card charges a $0 annual fee. The card also offers a 0% Intro APR for 6 months on purchases, then a 16.74% - 25.74% Variable APR.
Discover it® Student Cash Back cardholders earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
The card also offers the following sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Intro APR on balance transfers: 10.99% Intro APR for 6 months, then 26.74% Variable APR
Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Why we picked this card: While you won’t be able to get approved for a card with a 0% intro APR on balance transfers if you have bad credit — typically meaning a credit score below 580 — you may qualify for a card that offers a lower promotional APR on balance transfers for a period of time, such as the Discover it® Secured Credit Card.
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The Discover it® Secured Credit Card is designed for those with poor/limited credit who want to build their credit. The secured card — which requires a refundable security deposit ranging from $200 to $2,500 that serves are your line of credit — offers an intro APR on balance transfers for half a year and charges a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
After you’ve had the card for seven months, Discover will begin conducting monthly account reviews to see if you’re eligible to graduate to an unsecured card and get your deposit refunded. (Note that your behavior across your credit cards and loans from Discover, as well as those from other issuers or lenders, will be evaluated.) You can also get your deposit back if you choose to close your account and pay any remaining balance.
The Discover it® Secured Credit Card offers 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically.
It also comes with the following sign-up bonus: Discover will match all the cash back you’ve earned at the end of your first year.
Intro APR on balance transfers: 10.99% Intro APR for 6 months, then 26.74% Variable APR
Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Why we picked this card: While you won’t be able to get approved for a card with a 0% intro APR on balance transfers if you have bad credit — typically meaning a credit score below 580 — you may qualify for a card that offers a lower promotional APR on balance transfers for a period of time, such as the Discover it® Secured Credit Card.
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The Discover it® Secured Credit Card is designed for those with poor/limited credit who want to build their credit. The secured card — which requires a refundable security deposit ranging from $200 to $2,500 that serves are your line of credit — offers an intro APR on balance transfers for half a year and charges a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
After you’ve had the card for seven months, Discover will begin conducting monthly account reviews to see if you’re eligible to graduate to an unsecured card and get your deposit refunded. (Note that your behavior across your credit cards and loans from Discover, as well as those from other issuers or lenders, will be evaluated.) You can also get your deposit back if you choose to close your account and pay any remaining balance.
The Discover it® Secured Credit Card offers 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically.
It also comes with the following sign-up bonus: Discover will match all the cash back you’ve earned at the end of your first year.
Intro APR on balance transfers: 0% intro APR on balance transfers for 18 billing cycles, then a 14.99% - 23.99% (Variable) APR
Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Why we picked this card: The U.S. Bank Business Platinum Card is one of the few business credit cards that offers an interest-free period on balance transfers. The card offers a 0% intro APR on balance transfers for 18 billing cycles; after, a 14.99% - 23.99% (Variable) APR applies. The card’s balance transfer fee is Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
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If you are a small business owner who needs a long interest-free period of time to pay off existing high-interest debt, the U.S. Bank Business Platinum Card is a great option. Along with offering an intro APR on balance transfers for close to two years, the card offers a 0% intro APR on purchases for 18 billing cycles. After that, a 14.99% - 23.99% (Variable) APR applies.
The U.S. Bank Business Platinum CardU.S. Bank Business Platinum Card charges a $0 annual fee and does not offer a rewards program.
Intro APR on balance transfers: 0% intro APR on balance transfers for 18 billing cycles, then a 14.99% - 23.99% (Variable) APR
Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Why we picked this card: The U.S. Bank Business Platinum Card is one of the few business credit cards that offers an interest-free period on balance transfers. The card offers a 0% intro APR on balance transfers for 18 billing cycles; after, a 14.99% - 23.99% (Variable) APR applies. The card’s balance transfer fee is Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
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If you are a small business owner who needs a long interest-free period of time to pay off existing high-interest debt, the U.S. Bank Business Platinum Card is a great option. Along with offering an intro APR on balance transfers for close to two years, the card offers a 0% intro APR on purchases for 18 billing cycles. After that, a 14.99% - 23.99% (Variable) APR applies.
The U.S. Bank Business Platinum CardU.S. Bank Business Platinum Card charges a $0 annual fee and does not offer a rewards program.
A balance transfer is the process of moving debt from one or more credit cards to a different credit card. Consumers typically transfer balances from a credit card with a high interest rate to one offering a 0% intro APR for a period of time. This helps you save money on interest charges, since — for the duration of the 0% intro APR — any payments you make will go toward the principal of the debt, rather than to interest charges and and the principal.
You can generally expect a balance transfer to take around three to seven days, but there are situations where it could take up to six weeks. Until the balance has been moved to the new card, be sure to continue making minimum payments so you don’t get a late fee. On-time payments are the most important factor in building and keeping a good credit score.
A balance transfer fee is very common among balance transfer credit cards. It’s a one-time fee that’s typically around 3% to 5% of the balance you’re transferring. Issuers usually require a minimum of $5 or $10.
A balance transfer credit card’s 0% intro APR period can last anywhere from six to 21 months. You can pay off your balance without worrying about interest any time before that. If the period ends and you haven’t paid it off, you can be subject to a higher interest rate. To avoid that, make sure you apply for a card with a long enough period for you to pay off your balance.
Length of the interest-free period
One of the most important factors to consider when selecting a balance transfer card is the amount of time you have to pay off your credit card debt before interest charges kick in. The best balance transfer cards often offer 0% intro APRs ranging from 12 to 21 months.
APR once the intro period ends
Although we recommend paying your transferred balance in full before the 0% intro APR period ends to avoid incurring interest charges on that amount, that may not always be possible. Therefore, if there’s a chance you may have a portion of your transferred balance remaining after the 0% intro APR period ends, you should consider a balance transfer credit card that offers a low ongoing APR.
Balance transfer window
Be aware of the card’s balance transfer window — the amount of time you have to transfer your balance and take advantage of the promotional intro APR. It’s common for issuers to require cardholders to transfer a balance within the first 60 days of account opening.
Just know, issuers may also require your account to be open for a set period of time before you’re able to transfer your balance. For example, with Discover, your account must be open for 14 days before a balance transfer can start being processed.
Balance transfer fee
Many balance transfer credit cards that offer 0% intro APR periods also charge balance transfer fees. This fee often ranges from 3% to 5% of the amount of each transfer.
While you will likely come out ahead by paying a one-time balance transfer fee for each balance you transfer (as opposed to interest every month), there are also some no fee balance transfer cards available.
Annual fee
In addition to the balance transfer fee, be mindful of the card’s annual fee. We should note, none of the balance transfer credit cards in this post charge an annual fee.
Long-term value
Balance transfer credit cards can sometimes earn rewards. Consider a balance transfer card that earns rewards and offers perks that align with your lifestyle and spending habits. Keeping a balance transfer card for earning rewards past its intro APR period can help you cut down on the number of cards you apply for.
Credit requirement
Many balance transfer credit cards require good or excellent credit. If your credit falls within one of those two ranges, you should be able to have your pick of whichever balance transfer credit card works best for you. But if you are in the process of establishing or building your credit history, you might want to consider some of our best balance transfer cards for fair or bad credit.
Don’t know your credit score? Sign up for LendingTree to get your free credit score and recommendations to boost your score.Banks may have different steps for completing a balance transfer. Learn what the steps are for these popular issuers:
A balance transfer credit card with a long intro APR period can help you save over $1,000 on interest payments if you pay off your balance within the 0% intro APR period. Although most balance transfer cards charge a balance transfer fee, the amount you can save makes up for it.
Let’s say you want to do a balance transfer of $6,000 and your APR is 21%. Assuming your monthly payment is $300, here’s how much you would save with some of the cards on this list:
Savings on a $6,000 balance transfer
| Balance transfer credit card | Intro balance transfer APR | Balance transfer fee | Savings |
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| Wells Fargo Reflect® Card | 0% intro APR up to 21 months from account opening on qualifying balance transfers. Then a 16.74% - 28.74% variable APR applies. | 3% for 120 days from account opening, then up to 5%; min: $5 | $1,251 |
| Chase Slate Edge℠ | 0% Intro APR on Balance Transfers for 18 months. Then a 18.74% - 27.49% Variable APR applies. | Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater. | $1,251 |
| Choice Rewards World Mastercard® | 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening. Then a 11.25% to 18.00% (variable) APR applies. | $0 | $1,204 |
A balance transfer credit card can be a powerful tool for getting out of debt, but only if you use it correctly. Here are some tips on how to make the most of your balance transfer:
 Don’t put new charges on a balance transfer card. If your balance transfer card offers rewards, it can be tempting to swipe it for new purchases — resist the urge and pay down your transferred balance first before using the card for anything else. Once you’ve paid the card off in full, it can then be beneficial to use the card for its rewards (as long as you can pay off the balance every month). Also, don’t fall into the trap of adding new charges to your old card after the balance transfer goes through.
 Plan out your budget ahead of time. You should know exactly when your intro APR period ends and how much you need to pay every month to pay off the card in full before that happens. Any remaining balance after the intro period expires will be subject to the ongoing interest rate.
 Always make on-time payments. If you pay late, not only will your credit score suffer, but you’ll likely lose your intro APR as well. Paying on time is one of the most important things you can do to keep a good credit score and keep your finances in order. So, if for some reason you can’t pay as much as you’d like on the card during one month, make at least the minimum payment before the due date.
You would benefit the most from a balance transfer card if:
You have high-interest credit card debt you’re struggling to pay off. This helps you focus on paying down the principal of your debt since interest isn’t piling up.
You carry debt on multiple credit cards. A balance transfer can help simplify your finances with just one monthly payment.
You want to finance a large purchase. If you have a big purchase coming up — like home renovations, for example — then a balance transfer can let you finance it without interest.
If the following applies to you, then you may want to look at alternatives to balance transfer cards:
You have bad credit. Balance transfer credit cards with long intro APRs typically require good to excellent credit. You may have more success being approved for a lower-interest personal loan to pay off your credit card debt (which will give you a fixed period of time with fixed payment amounts to pay down what you owe).
You’re looking for excellent rewards. Balance transfer credit cards usually have limited rewards rates, if any. There are plenty of other rewards credit cards to choose from.
You can ask your credit card issuer to lower your interest rate if you don’t want to open a new credit card. You can make a number of requests — including requests to waive your annual fee, downgrade your card and lower your interest rate.
It’s not a guaranteed method, but there is a chance your issuer will say yes if you explain your situation. The issuer is not likely to give you a 0% APR period, but any drop in your interest rate is better than none.
A debt consolidation loan helps you combine credit card debts into a single monthly payment — which can help you simplify your payments and help you save money on interest. In some cases, it may be a better option for you than a balance transfer credit card depending on your credit score.
These loans can also give you the advantage of a more structured payment schedule by setting a monthly payment and a date by which your debt will be fully paid off. Unlike balance transfer credit cards, however, debt consolidation loans don’t offer a 0% APR at all. But still, the loan’s interest rate could be lower than a high APR on a credit card. Banks, credit unions and online lenders may offer debt consolidation loans.
Making your minimum payments isn’t effective in paying off your balance quickly. Even if you can’t pay off your monthly payments in full, making above the minimum payment can help you cut down on the interest you’ll owe.
This can help you buy time to possibly later qualify for a balance transfer credit card. However, taking out a debt consolidation loan and asking your issuer to lower your APR will likely be more effective in getting rid of your debt sooner and saving on interest.
Some of the most important factors to consider before applying for a balance transfer card include the length of the intro APR period, the regular APR after the intro period ends and any balance transfer fee. While it’s possible to find a card without a balance transfer fee, the intro periods for those cards tend to be shorter. Otherwise, a fee of 3% to 5% of the amount transferred will be added to your balance. Finally, while this shouldn’t be your primary concern when looking for a balance transfer card, a balance transfer card that also earns rewards might be a good choice if you want to keep using it once the transferred balance is paid off.
Probably not. Balance transfer cards typically require a good to exceptional credit score (ranging from 670 to 850). If your credit is poor or fair (ranging from 300 to 669), you will likely be denied if you try to apply for a balance transfer card.
Many cards offer periods of intro 0% APR before the regular APR kicks in. A card might have an intro APR period on balance transfers, purchases or both. A balance transfer card is simply a credit card that offers an intro APR on balance transfers. It’s also possible to find cards that charge no balance transfer fee, though they’re relatively rare.
When considering cards with interest-free periods on purchases, note that a credit card with an intro APR offer is different from one offering deferred interest. In the former case, you’ll start to accrue interest on any balance you’re carrying after the intro period ends — but in the latter, you’ll owe interest on the entire amount from the date of purchase if you don’t meet your card’s deadline to pay off the debt. Be especially cautious of deferred interest with store cards, where such offers often appear.
Some issuers will allow you to check to see if you prequalify for a credit card. This is done with a soft inquiry, which doesn’t ding your credit score. Note that prequalification isn’t a guarantee you’ll be approved for the card, and also be aware that a hard inquiry will be generated once you actually apply.
When you get a balance transfer card, you can expect to see your score dip at first, since applying for a new card generates a hard inquiry on your credit score. However, with good behavior over time, you can expect to see your score increase thanks to more available credit and a decreasing balance (just don’t increase your spending!).
No, you cannot. This is important to consider when choosing which balance transfer card to apply for. For example, if your existing credit card debt is on a Citi card, you won’t be able to transfer it to another Citi card.
A balance transfer fee is a fee you have pay to the credit card issuer for each transfer you make to the card. Typically, it will range from 3% to 5% of the amount of each transfer.
When considering a balance transfer, make sure to do the math and understand how much you’ll need to pay for the balance transfer fee. For example, if you transfer $1,000 to a credit card with a 5% balance transfer fee, the fee amount would be $50. So, after the transfer goes through, you’d have a balance of $1,050 on your balance transfer card.
It’s always smart to do the math before you apply for a balance transfer card to see how much you’ll need to pay each month in the allotted intro 0% or low-interest offer time period.
For example, let’s say you’re currently carrying a $3,000 balance on an existing card with a 22% APR and paying $200 a month. It’ll take 18 months to pay off that debt and you’ll end up paying $541 in interest, or a total of $3,541.
If you transfer that debt to a balance transfer card offering a 0% APR for 18 months with a 3% balance transfer fee, and keep your $200 a month payments up, you’d just pay $90 for the balance transfer fee and have your balance paid off in 16 months.
So, you’d be saving a total of $451 ($541 that you’d pay in interest charges if you don’t utilize a 0% APR balance transfer deal, minus the $90 balance transfer fee for the new card) and pay off the balance two months quicker.
Credit card issuers have different balance transfer policies that can limit the amount you can transfer relative to your new card’s credit limit. Some will allow you to transfer up to the entire credit limit (minus any balance transfer fee) on the new card, while others may cap the amount you transfer to 75% or 95% of your credit limit.
For example, American Express will only allow you to transfer $5,000 or 75% of your credit limit (whichever is lower), while Chase allows you to transfer up to 95% of your credit limit or up to $15,000 (whichever is lower).
Plus, you won’t know exactly what your credit limit will be until after you’re approved for the new balance transfer card — making it difficult to project how much of your existing debt can be moved to the card. Your credit limit is generally based on the card issuer’s review of your credit score and credit reports, and you can’t transfer more than the credit limit you’re given.
Before you apply for a new balance transfer card, it’s best to research the card’s terms online or by calling the issuing bank to find out exactly what that issuer’s policy is on how much of your new credit limit can be used for a balance transfer.
You can generally expect a balance transfer to take around three to seven days, but there are situations where it could take up to six weeks. If a payment is due on the credit card from which you made the transfer, make sure to pay it until the balance has been moved to the new card, so you don’t get charged a late fee. On-time payments are the most important factor in building and keeping a good credit score.
As with any credit card, there’s a risk you’ll be denied. In such a situation, if you’re confident you have good credit, you might consider applying for a balance transfer card from a different issuer than the one that denied you. Or, you could apply for a personal loan to pay off your credit card debt instead.
If you have poor or fair credit, you probably can’t get a balance transfer card from any issuer. And if you get approved for a personal loan, it’s likely to have a high APR. In such situations, you might wish to work with an accredited nonprofit debt counselor to put together a plan for paying down your debt. After following through on such a plan and paying off your debt, you might consider applying for a secured card to help improve your credit score.
It’s a long journey, but there is no quick fix in such cases.
We selected the best balance transfer cards through a review of cards available on LendingTree and from top issuers. One of the primary considerations was the length of 0% intro APR each card offers on balance transfers — the longer the intro APR period, the more likely it would be included on this list.
Another consideration was balance transfer fees. Most of the cards on this list charge a reasonable balance transfer fee, while two charge no balance transfer fee. And, as far as annual fees go, every card on this list charges no annual fee.
Finally, rewards, benefits and sign-up bonuses were also taken into consideration. If a card offers ongoing value after the balance transfer period through rewards or useful benefits, that weighed in its favor of the card’s inclusion. And though we typically recommend avoiding putting new purchases on a balance transfer card, sign-up bonuses were counted as a positive factor in case a consumer is looking to both transfer a balance and make a big purchase after opening a new card.
Additional reporting by Dan Miller.
The above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.
