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Browse the Best Balance Transfer Credit Cards

Struggling to find the best balance transfer credit cards? At BestCards.com we have a selection of the best balance transfer cards from the biggest banks and regional credit unions. Browse offers below.

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Showing 58 Cards

Date Reviewed: April 26, 2019

PNC Cash Rewards® Visa® Credit Card

PNC Cash Rewards® Visa® Credit Card
  • Regular Purchase APR 12.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 12.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 22.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Processing Network Visa
Best Benefits
  • Get a $100 bonus after you make at least $1,000 in purchases during the first 3 months from account opening
  • Earn 4% cash back on gas station purchases, 3% on purchases at restaurants, 2% on grocery story purchases, and 1% on all other purchases
  • Cash back never expires as long as your account is open
  • 0% APR on balance transfers for 12 months
Rates & Fees
  • Regular Purchase APR: 12.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 12 months on transfers made within 90 days of account opening
  • Balance Transfer APR: 12.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each balance transfer, whichever is greater, for the first 90 days from account opening. After that, either $5 or 4% of each transfer amount, whichever is greater
  • Cash Advance APR: 22.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: 28.99% variable based on the Prime Rate
  • Foreign Transaction Fee: 3% of each transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $38
  • Return Payment Penalty Fee: Up to $38
Credit Card Deals
  • Spoil your pup with a FREE upgrade to BarkBox. - Offer Expires on December 31, 2020 - See Details
  • Save 10% on all Afternoon Tea orders - Offer Expires on December 31, 2020 - See Details
  • Save 10% on The Berlin Pass - Offer Expires on December 31, 2020 - See Details
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

Date Reviewed: April 17, 2019

BB&T Bright Credit Card

BB&T Bright Credit Card
  • Regular Purchase APR 11.24% to 20.24% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 11.24% to 20.24% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 22.24% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Intro Purchase APR 0% for 15 months from account opening date
  • Processing Network Visa
Best Benefits
  • 0% introductory APR for 15 months on purchases and balance transfers
  • Earn cash back with BB&T Deals
  • Zero liability unauthorized purchase protection
  • No annual fee
Rates & Fees
  • Intro Purchase APR: 0% for 15 months from account opening date
  • Regular Purchase APR: 11.24% to 20.24% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 15 months from account opening date
  • Balance Transfer APR: 11.24% to 20.24% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each balance transfer, whichever is greater
  • Cash Advance APR: 22.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $38
Credit Card Deals
  • Spoil your pup with a FREE upgrade to BarkBox. - Offer Expires on December 31, 2020 - See Details
  • Save 10% on all Afternoon Tea orders - Offer Expires on December 31, 2020 - See Details
  • Save 10% on The Berlin Pass - Offer Expires on December 31, 2020 - See Details
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

Date Reviewed: January 24, 2019

Stand Up To Cancer® Credit Card

Stand Up To Cancer® Credit Card
  • Regular Purchase APR 14.99% to 25.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 14.99% to 25.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Good
  • Intro Purchase APR 0% for 12 months from account opening date
  • Processing Network Mastercard
Best Benefits
  • Earn 1 Real Life Rewards® point for each $1 spent on purchases
  • Redeem points for a charitable contribution to Stand Up To Cancer or redeem for gift cards, cash deposits to a Fifth Third Account, or a credit card statement credit
  • 0% introductory APR on purchases and balance transfers for your first 12 billing cycles after the account is opened
  • No annual fee
Rates & Fees
  • Intro Purchase APR: 0% for 12 months from account opening date
  • Regular Purchase APR: 14.99% to 25.99% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 12 months from account opening date
  • Balance Transfer APR: 14.99% to 25.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $39

Date Reviewed: January 24, 2019

TRIO® Credit Card

TRIO® Credit Card
  • Regular Purchase APR 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Good
  • Processing Network Mastercard
Best Benefits
  • New cardholders can earn a $100 cash back bonus by spending $1,000 within 90 days of account opening
  • 3% cash back at restaurants
  • 2% cash back on gas and at grocery and drug stores
  • 1% unlimited cash back rewards on all other purchases
  • 0% introductory APR on balance transfers for the first 12 months after account opening
Rates & Fees
  • Regular Purchase APR: 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 12 months from account opening date
  • Balance Transfer APR: 13.99% to 22.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each Cash Advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40

Date Reviewed: November 09, 2018

HSBC Cash Rewards Mastercard® Credit Card

HSBC Cash Rewards Mastercard® Credit Card
  • Regular Purchase APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Intro Purchase APR 0% for 12 months from account opening date
  • Processing Network Mastercard
Best Benefits
  • Special introductory offer: Earn 3% cash back on all purchases made in the first 12 months from account opening, up to the first $10,000 in purchases
  • Unlimited 1.5% cash back earning on all purchases
  • 10% bonus on all cash rewards earned each account anniversary, 0% Intro APR on purchases and balance transfers for first 12 months account is open
  • No annual fee and no foreign transaction fees
Rates & Fees
  • Intro Purchase APR: 0% for 12 months from account opening date
  • Regular Purchase APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 12 months on transfers made within the first 60 days from account opening date
  • Balance Transfer APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: 29.99% variable based on the Prime Rate
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39

Date Reviewed: August 31, 2018

NHL® Discover it®

NHL® Discover it®
  • Regular Purchase APR 11.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer APR 11.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Good
  • Intro Purchase APR 0% for 14 months from date of account opening date
  • Processing Network Discover
Best Benefits
  • Save 10% at Shop.NHL.com with the code ITPAYS. Save 10% on your NHL.TVTM subscription when you use your Discover card
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. Plus unlimited 1% cash back on all other purchases
  • Discover automatically matches all the cash back you've earned at the end of your first year—only for new cardmembers
  • View your FICO® score for free on monthly statements, mobile, and online
  • Choose your team, show your pride - all 31 team logos are available as card art
  • No annual fee
Rates & Fees
  • Intro Purchase APR: 0% for 14 months from date of account opening date
  • Regular Purchase APR: 11.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Intro Balance Transfer APR: 0% for 14 months from date of first transfer
  • Balance Transfer APR: 11.99% to 22.99% variable based on creditworthiness and Prime Rate
  • Balance Transfer Transaction Fee: 3% of the amount of transfers that post at the promotional rate. After that, 5% of the amount of each transfer
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40

Date Reviewed: August 31, 2018

Citi® Diamond Preferred® Credit Card

Citi® Diamond Preferred® Credit Card
  • Regular Purchase APR 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 25.24% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Intro Purchase APR 0% for 18 months from date of account opening
  • Processing Network Mastercard
Best Benefits
  • 0% Intro APR on purchases and balance transfers
  • Apple Pay® compatibility makes it easy to complete purchases
  • Citi® Private Pass® grants special access to purchase tickets to concerts, dining experiences, and sporting events
  • Enjoy peace of mind with Identity Theft and travel protection
  • With Citi Entertainment, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more
Rates & Fees
  • Intro Purchase APR: 0% for 18 months from date of account opening
  • Regular Purchase APR: 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 18 months on transfers made within 4 months from account opening date
  • Balance Transfer APR: 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 25.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
  • Penalty APR: Up to 29.99% variable based on the Prime Rate
  • Foreign Transaction Fee: 3% of each purchase transaction in US dollars
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40

Date Reviewed: August 31, 2018

Citi Simplicity® Card

Citi Simplicity® Card
  • Regular Purchase APR 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 25.24% variable based on creditworthiness and the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Intro Purchase APR 0% for 12 months from account opening date
  • Processing Network Mastercard
Best Benefits
  • 0% intro APR on balance transfers for 21 months from date of first transfer
  • 0% Intro APR on purchases for 12 months from date of account opening
  • No annual fee
  • No late fee
Rates & Fees
  • Intro Purchase APR: 0% for 12 months from account opening date
  • Regular Purchase APR: 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 21 months on transfers made within 4 months from account opening date
  • Balance Transfer APR: 14.74% to 24.74% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 25.24% variable based on creditworthiness and the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Foreign Transaction Fee: 3% of the transaction amount in US dollars
  • Return Payment Penalty Fee: Up to $40

Date Reviewed: August 29, 2018

USAA Military Affiliate Visa Signature® Card

USAA Military Affiliate Visa Signature® Card
  • Regular Purchase APR 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Annual Fee None
  • Credit Needed Good
  • Processing Network Visa
Best Benefits
  • 2,500 bonus points credited to your account with your first purchase
  • Collision damage waiver coverage pays for physical damage and theft to most rental vehicles
  • Identity theft resolutions services provides assistance should you become the victim of identity theft
  • Extended warranty extends your manufacturers or U.S. store brand warranties for up to one year
Rates & Fees
  • Regular Purchase APR: 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for the first 12 months from account opening
  • Balance Transfer APR: 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: 3% of the amount of each transfer (maximum fee per transfer $200)
  • Cash Advance APR: 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Cash Advance Transaction Fee: 3% of the amount of each cash advance (maximum fee for each convenience check: $200). Fee waived when transferring funds electronically to a USAA deposit account
  • Late Payment Penalty Fee: Up to $35
  • Return Payment Penalty Fee: Up to $35
Credit Card Deals
  • Spoil your pup with a FREE upgrade to BarkBox. - Offer Expires on December 31, 2020 - See Details
  • Save 10% on all Afternoon Tea orders - Offer Expires on December 31, 2020 - See Details
  • Save 10% on The Berlin Pass - Offer Expires on December 31, 2020 - See Details
  • Complimentary EZ Mini Crunchies (60g) when you spend S$120 - Offer Expires on December 31, 2020 - See Details
  • 10% off museum entry - Offer Expires on December 31, 2020 - See Details
  • Save up to 55% on London theater tickets - Offer Expires on December 31, 2020 - See Details
  • Save an extra 10% on Tower of London access tickets - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Alamo® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save 5% with Enterprise Rent-A-Car® at participating locations - Offer Expires on December 31, 2020 - See Details
  • Save an extra 5% on The Paris Explorer Pass - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

Date Reviewed: August 29, 2018

USAA Military Affiliate American Express® Card

USAA Military Affiliate American Express® Card
  • Regular Purchase APR 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Annual Fee None
  • Credit Needed Good
  • Processing Network American Express
Best Benefits
  • 2,500 bonus points credited to your account with your first purchase
  • Collision damage waiver coverage pays for physical damage and theft to most rental vehicles
  • Identity theft resolutions services provides assistance should you become the victim of identity theft
  • Extended warranty extends your manufacturers or U.S. store brand warranties for up to one year
Rates & Fees
  • Regular Purchase APR: 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for the first 12 months from account opening
  • Balance Transfer APR: 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: 3% of the amount of each transfer (maximum fee per transfer $200)
  • Cash Advance APR: 10.9% to 25.9% variable based on creditworthiness and the Prime Rate
  • Cash Advance Transaction Fee: 3% of the amount of each cash advance (maximum fee for each convenience check: $200). Fee waived when transferring funds electronically to a USAA deposit account
  • Late Payment Penalty Fee: Up to $35
  • Return Payment Penalty Fee: Up to $35
Credit Card Deals
  • Spend $1,000 or more, get $200 back - Offer Expires on November 30, 2020 - See Details
  • Spend $50 or more, get $10 back - Offer Expires on December 31, 2020 - See Details
  • Spend $35 +, get $7 back. Up to 2 times (total of $14). - Offer Expires on November 15, 2020 - See Details
  • Spend $9.99 or more, get $9.99 back - Offer Expires on December 31, 2020 - See Details
  • View All Deals -

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What is a Balance Transfer Credit Card? 

A balance transfer credit card is a type of credit card offer meaning that cardholders can transfer credit card debt from multiple cards onto one in order to consolidate the amount owed. This is a popular debt management strategy, because having all your credit card debt compiled in one place can potentially reduce overall costs. 

Many of the best credit card balance transfer offers include features to simplify your payments and save you moneyWhen applying for a balance transfer card, you’ll want to look for perks like: 

  • Long 0% introductory APR periods  
  • Low or fixed interest rates 
  • Waived balance transfer fees 
  • No annual fee 

The Pros and Cons of Transferring a Credit Card Balance  

The main reason to apply for a balance transfer card is because it can make the process of paying off your debt a little easier. When carrying debt across several cards, it can be difficult to know which balance to tackle first, leaving you feeling overwhelmed on all sides. With all of your debt compiled onto one card instead, you can focus your energy in one direction and possibly feel more empowered to tackle your payments.  

This approach to debt management may also help you save money in the long run and reduce your risk of defaulting. Rather than juggling multiple cards with variable APRs and fees, you’ll have just one (hopefully low) APR to worry about. That’s where 0% APR $0 balance transfer credit cards come into play.

However, debt consolidation using a balance transfer card isn’t always the most lucrative option. For instance, it’s not as effective if you have student loans and other types of debt as well. It’s also important to make sure you have a payment strategy in place and stick to it. Otherwise, you may cancel out any benefits from transferring your balances in the first place.  

How to Transfer a Credit Card Balance 

It helps to know how balance transfers work before you jump into applying for your first balance transfer credit card. Otherwise, you may choose a card that doesn’t fit your situation well and end up compounding your debt, rather than reducing it. Follow these steps to get on the right track toward eliminating your credit card debt: 

  1. Examine your current credit cards. It’s important to note the interest rates, fees, balances, and other information for the cards you already have. That way, you can ensure your new card has better terms. You’ll also need to keep track of the issuers, so you’re sure choose a different one; you usually can’t perform same-issuer transfers. 
  2. Make a plan for paying off your debt. How fast can you realistically pay off this debt? What is the largest monthly payment you can consistently afford? Questions like these can help you identify the card that fits your needs. 
  3. Select and apply for a balance transfer card. Put what you’ve learned about your financial needs and goals into your research to find a card with the right APRs, intro period, and credit limit. 
  4. Request the balance transfer. Contact the issuer of your new card either online or over the phone to initiate the transfer of each balance.  
  5. Keep up with your payments. The best way to make a balance transfer credit card worthwhile is to make consistent payments. 

For more information on this processyou can check out our full article addressing the question How do credit card balance transfers work? 

How to Spot the Best Balance Transfer Credit Cards 

As with all credit cards, some balance transfer credit cards are better than others. The best one for you will also depend on your own financial circumstances. For that reason, you’ll want to look out for a few features in particular to make sure you get the most out of your new card while you pay off the balance. 

No Credit Card Balance Transfer Fee 

It’s not often that you find a balance transfer credit card with no fee for balance transfers, which is why it’s considered a standout feature. Some cards waive the fee for the first few months, while others skip it completely. This can save you hundreds of dollars on each transfer, depending on the size. Most credit cards charge at least $5 or 3% of the amount of each transfer, if not more. 

Low Regular Interest 

The main point in applying for a balance transfer credit card is to get a lower rate than you currently have. That way, you can minimize your interest accrual over time while you pay off your balance 

APRs for low interest credit cards can vary widely depending on your creditworthiness and the size of the issuer. For instance, the best low interest balance transfer card for fair credit at a credit union will look very different than what big banks may offer for the same credit score. You’ll want to make sure you qualify for reasonable rates on whichever card you choose to apply for, as this will affect how beneficial the card is for you. 

Long Introductory Period 

In order to avoid paying interest on the balance, you’ll want to look for 0% interest balance transfer credit cards. The longer the introductory period, the more time you’ll have to pay off the debt without accruing more interest 

Some of the best options offer 0% APR for anywhere from 12 to 21 months. It’s also important to note any limitations to the introductory period. Specifically, many cards only offer 0% interest for transfers made in the first 60 days from account opening.  

Some quality balance transfer credit cards also provide 0% on balance transfers and 0% on purchases for 12 months or more. These cards make financing larger purchases easy and straightforward, as cardholders pay down the balance over 12 months, rather than right away.

High Credit Limit 

You’ll want to pay attention to the credit limit available with the card, because you won’t be able to move all of your debt over if it exceeds this amount. This can be tricky to navigate, especially if you have less-than-stellar credit.  

While not technically a balance transfer card, the Upgrade Card can be a great option for this situation. This credit line can offer lower rates and higher limits that you would find with most traditional credit card offers. Rather than transferring a balance to the card, you transfer the necessary funds from the credit line to your bank account to pay off your credit cards. The best part is, you can skip balance transfer fees altogether and even pay off other types of debt as well. 

Balance Transfer FAQs

Balance transfers can seem confusing – but they don’t have to be. Here are some of the most commonly asked questions about balance transfers and balance transfer credit cards:

What is a balance transfer?

  • A balance transfer is a process of taking an existing credit card balance and moving it to a new account with a lower regular APR. These transfers make it easier to pay down balances and often come with intro APR offers.

Who can qualify for a balance transfer card?

  • Because these types of cards offer low-interest rates, a good credit score is a minimum requirement for a balance transfer card. Many issuers require an excellent credit score, so a good benchmark for obtaining a card like these is a FICO Score of 700 or higher.

What are the downsides to a balance transfer?

  • Because these cards feature an introductory rate, you might find yourself stuck with more debt than you began. After the promotional period ends, only those with the best credit scores will have the lowest rates. Those with good credit might be paying a higher APR – primarily if they conduct their transfer using a rewards credit card. Other negatives of transferring a balance include:
    • Increasing credit utilization on a single card, which can lower your credit score.
    • Lowering the average age of your credit accounts by opening a new line of credit.
    • A new line of credit also means a further hard inquiry, which can also impact your credit score.

Do all balance transfer cards come with 0% intro APR?

  • While many cards feature 0% intro AR, not all balance transfer cards provide an interest-free period, some cards – especially those from credit unions or smaller banks – may only offer a reduced interest rate. These rates maybe 3.99% or higher, but are often significantly lower than the standard variable APR.

Do all card issuers offer a balance transfer card?

  • While most major card issuers provide a variety of offers, not all currently offer a balance transfer credit card. Most significant issuers and banks, like Chase (Chase Slate Card), Citi (the Citi Simplicity Card), and others, provide balance transfer cards and low APR Cards. Discover also reintroduced its balance transfer card, the Discover It Balance Transfer.

What is the average interest rate on a balance transfer card?

Do rewards cards make good balance transfer cards?

  • In some cases, yes. Some cash back cards, like the Citi Double Cash Card, offer 0% APR on balance transfers and cash back rewards program in one package. Just be sure to pay your statement balance in full before the due date, or you might incur a late fee or penalty APR.

Find Your Balance Transfer Credit Card 

The BestCards team works to provide the most up-to-date information and honest reviews on the balance transfer credit cards currently available. Browse our collection of over 800 cards to compare your options, and get valuable guidance from our resource articlesLet us help you find the perfect card for your wallet!