Best Balance Transfer Credit Cards of November 2021
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When used responsibly, balance transfers can be a great way to reduce the amount of interest you’re charged as you pay off debt. Many credit cards offer 0% introductory APRs for balance transfers that vary in length. The details change from time to time, but you can find balance transfer intro offers that span nearly two years — giving you quite a while to pay off debt interest-free.
- Long 0% Period (Wells Fargo): Wells Fargo Reflect℠ Card (Learn More)
- Long 0% Period (Citi): Citi® Diamond Preferred® Card (Review)
- Long 0% Period (U.S. Bank): U.S. Bank Visa® Platinum Card (Review)
- Long 0% Period (Chase): Chase Slate Edge℠ (Review)
- No Transfer Fees: Navy Federal Credit Union Platinum Card (Review)
- Earning Rewards (Citi): Citi® Double Cash Card – 18 month BT offer (Review)
- Earning Rewards (Discover): Discover it® Cash Back (Review)
- Earning Rewards (U.S. Bank): U.S. Bank Cash+™ Visa Signature® Card (Review)
- Earning Rewards (Wells Fargo): Wells Fargo Active Cash℠ Card (Learn More) (Review)
- Earning Rewards (Other Issuers): Bank of America® Customized Cash Rewards Card (Review)
- Students: Bank of America Customized Cash Rewards™ Credit Card for Students (Review)
- Fair Credit: Discover it® Cash Back (Review)
- Bad Credit: Discover it® Secured (Review)
Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.
The information related to Amex EveryDay® Credit Card and Chase Slate Edge℠ have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.
- Long 0% Period (Wells Fargo): Wells Fargo Reflect℠ Card (Learn More)
- Long 0% Period (Citi): Citi® Diamond Preferred® Card (Review)
- Long 0% Period (U.S. Bank): U.S. Bank Visa® Platinum Card (Review)
- Long 0% Period (Chase): Chase Slate Edge℠ (Review)
- No Transfer Fees: Navy Federal Credit Union Platinum Card (Review)
- Earning Rewards (Citi): Citi® Double Cash Card – 18 month BT offer (Review)
- Earning Rewards (Discover): Discover it® Cash Back (Review)
- Earning Rewards (U.S. Bank): U.S. Bank Cash+™ Visa Signature® Card (Review)
- Earning Rewards (Wells Fargo): Wells Fargo Active Cash℠ Card (Learn More) (Review)
- Earning Rewards (Other Issuers): Bank of America® Customized Cash Rewards Card (Review)
- Students: Bank of America Customized Cash Rewards™ Credit Card for Students (Review)
- Fair Credit: Discover it® Cash Back (Review)
- Bad Credit: Discover it® Secured (Review)
How We Picked These Cards
When scoping out the best balance transfer cards, look at these features:
- Balance transfer APR (aka interest rate): Lower is better. Get one with a lower interest rate than what you have now (preferably a 0% introductory rate). With most cards, you’ll need to request or complete the transfers within a certain time frame of being approved to qualify for the 0% rate.
- Introductory balance transfer APR period: This is the amount of time you’ll have to pay off the transferred balance at the specified rate. Longer is better, giving you more time to pay off your debt at low interest before the intro period ends.
- Balance transfer fee: Lower is better. Some cards today have no balance transfer fees at all, or no fees for a certain period after being approved.
- Card issuer: You usually won’t be able to transfer balances between two cards from the same issuer. So you can’t transfer from one Amex card to another, for example, or one Discover card to another. You’ll have to transfer to a different credit card issuer or bank.
On a credit card, the balance transfer APR is separate from the purchase APR. In most cases the purchase and balance transfer APRs will be the same rate, but not always.
A 0% APR is the best you can get for balance transfers, so look for these no-interest introductory offers. Many credit cards allow balance transfers, but they aren’t always at zero interest.
Ready to transfer your balance and start saving money? Learn what to do next in How Credit Card Balance Transfers Work.
Is a Balance Transfer Card Right for You?
Balance transfer credit cards can help you save a lot of money and get out of credit card debt more quickly. If you’re carrying a balance with an interest rate on almost any type of account, you may be able to transfer some or all of it (depending on your credit limit) to a new credit card and pay it off at 0% APR.
Are you carrying a balance on a credit card with an interest rate over 0%? If so, even if your card has a lower-than-average interest rate, you should consider moving it to a card with a 0% APR to save money. If you have personal loans or other installment loans you’re thinking about transferring, this may not be a good idea because they tend to have low interest rates and don’t hurt your credit much compared to revolving debt.
Balance transfers can be a great tactic in your fight to reduce debt. Whether you use the snowball method or the avalanche method, it’s always a good idea to try to reduce the amount of interest charges you end up paying.
Consider a balance transfer credit card if you:
- Have credit card debt or other debt at an APR above 0%, which you won’t be able to pay off within the next few months
- Have a plan to pay off the debt without accumulating more debt on a different card
- Don’t mind the credit inquiry or the impact the new card account will have on the account age of your credit scores (generally a small impact, which will usually be worth the hit to get out of debt sooner)
Sometimes you’ll get balance transfer offers on credit cards that you already have. For example, our editor’s Bank of America® Customized Cash Rewards Card (Review) recently gave him a balance transfer offer of 0% for 12 months or 1.99% for 15 months. There was a 3% transfer fee for each offer. Card issuers might do this occasionally to encourage you to carry a balance on one of their cards again.
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What’s a Credit Card Balance Transfer?
Best Pick For...
- Min. credit levelGood
- Annual Fee$0
- Purchase APR0% intro APR for up to 21 months from account opening, then 12.99%-24.99% Variable APR Variable
Looking for some time to pay off a big balance? The Wells Fargo Reflect℠ Card (Learn More) can provide, with nearly two years to pay off your debt at a low interest rate.
- Balance transfer APR: 0% for up to 21 months from account opening on qualifying balance transfers, for transfers requested within 120 days, then 12.99%-24.99% Variable APR Variable
- Balance transfer fee: 3% for 120 days from account opening, then up to 5%; min: $5
But that’s not all. If you make all your monthly payments on time, you’ll be given three extra months for the 0% rate. That makes this the longest potential offer available.
Like most cards dedicated to balance transfers, you won’t earn any rewards or get any spectacular benefits. But if you’re dealing with high-interest debt, it’d be hard to beat the Reflect.
- Three-month 0% APR extension: Make your required payment on time each month throughout the introductory and extension periods to get an extra three months added to your intro period.
- Free FICO credit score: Check your FICO Score 9 online whenever you’d like, based on your Experian credit report.
- Cellular Telephone Protection: Provides reimbursement for damage or theft of cell phones, up to $600 per claim and two claims per 12-month period, with a $25 deductible. You must pay your phone bill with the card to be eligible.
- Roadside Dispatch: Call 1-800-847-2869 if you need help on the road, with some services at set prices like towing, tire changing, jump starting, and lockout service.
- Purchase APR: 0% intro APR for up to 21 months from account opening, then 12.99%-24.99% Variable APR Variable
- Balance Transfer APR: 0% intro APR for up to 21 months from account opening on qualifying balance transfers, then 12.99%-24.99% Variable APR Variable
- Balance Transfer fee: 3% for 120 days from account opening, then up to 5%; min: $5
- Annual fee: $0
Wells Fargo Active Cash℠ Card
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- Perks: Free FICO Score 9 credit score; Visa Signature Concierge; Luxury Hotel Collection
- Shopping and travel protections: Cellular Telephone Protection; Roadside Dispatch; Travel and Emergency Assistance Services
- Purchase APR: 0% intro APR for 15 months from account opening, then 14.99%-24.99% Variable APR Variable
- Balance Transfer APR: 0% intro APR for 15 months from account opening on qualifying balance transfers, then 14.99%-24.99% Variable APR Variable
- Balance Transfer fee: 3% for 120 days from account opening, then up to 5%; min: $5
- Annual fee: $0
Wells Fargo Visa Signature® Card
- Purchase and Balance Transfer APR: 0% for 15 months, for transfers requested within 120 days, then 13.49%–26.49% Variable
- Balance transfer fee: 3%, $5 minimum for 120 days then up to 5%, $5 minimum
- 5X points per dollar, up to $12,500 spent in the first 6 months, on:
- Gas
- Grocery
- Drugstore purchases
- 1X point per dollar for all other purchases
- Annual fee: $0
Wells Fargo Rewards Card
- Purchase and Balance Transfer APR: 0% for 15 months, for transfers requested within 120 days, then 17.49%–26.49% Variable
- Balance transfer fee: 3%, $5 minimum
- 5X points per dollar, up to $12,500 spent in the first 6 months, on:
- Gas
- Grocery
- Drugstore purchases
- 1X point per dollar for all other purchases
- Annual fee: $0
- 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 13.74% – 23.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
- Get free access to your FICO® Score online.
- With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
- Shop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi®Identity Theft Solutions.
- The standard variable APR for Citi Flex Plan is 13.74% – 23.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.
There’s nothing complicated about the Citi® Diamond Preferred® Card (Review).
- Balance Transfer APR: 0% for 21 months, then 13.74% - 23.74% (Variable)
- Balance Transfer fee: 5%, $5 minimum
It’s pretty much all about the balance transfers, with a good and long intro period to help you pay off debt.
This could be the right card if all you want is a long time to pay off some debt, although it does have a transfer fee. Compare this card to others without transfer fees, but with shorter promotional periods, to see which intro APR offer will end up saving you the most money over time.
- Citi Concierge: Call 1-800-508-8930 anytime to speak with a personal assistant, who can help with non-emergency tasks like finding tickets or making reservations.
- Citi Entertainment: Access tickets to a wide variety of events, like concerts and sporting events, occasionally including presales and exclusive experiences.
- Free FICO credit score: Check your FICO Bankcard Score 8, based on your Equifax credit report, for free.
- Purchase APR: 0% for 12 months, then 13.74% - 23.74% (Variable)
Citi Simplicity® Card
- Balance Transfer APR: 0% for 21 months, then 14.74% - 24.74% (Variable)
- Balance transfer fee: 5%, $5 minimum
- Purchase APR: 0% for 12 months, then 14.74% - 24.74% (Variable)
- Annual fee: $0
Citi® Double Cash Card – 18 month BT offer
- Balance transfer APR: 0% for 18 months on Balance Transfers, for transfers completed within 4 months, then 13.99% – 23.99% (Variable)
- Balance transfer fee: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 min).
- Purchase APR: 13.99% – 23.99% (Variable)
- 2% cash back for every purchase
- Annual fee: $0
Citi Rewards+® Card
- Purchase and Balance transfer APR: 0% for 15 months, for transfers completed within 4 months, then 13.49% - 23.49% (Variable)
- Balance transfer fee: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 min).
- 2X ThankYou points per dollar on up to $6,000 spent per year, at:
- Supermarkets
- Gas stations
- 1X ThankYou point per dollar on all other purchases
- Point Round Up: Each purchase rounds up to the nearest 10 points
- Annual fee: $0
Citi is a Credit Card Insider advertiser.
- Min. credit levelGood
- Annual Fee$0*
- Purchase APR0%* for 20 billing cycles on purchases, then 14.49% - 24.49%* Variable
- 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 14.49% – 24.49%.
- Great offer from U.S. Bank, a 2021 World’s Most Ethical Company® – Ethisphere Institute, February 2021.
- No Annual Fee*
- Flexibility to choose a payment due date that fits your schedule.
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
The U.S. Bank Visa® Platinum Card (Review) has one of the longest 0% balance transfer periods available.
- Balance transfer APR: 0%* intro on BTs for 20 billing cycles on balance transfers*, for transfers made within 60 days, then 14.49% - 24.49%* Variable
- Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
It’s not quite as long as the offers from Citi above, but keep in mind that you can only transfer balances between issuers. So if you have a balance on a Citi credit card already, you may want a U.S. Bank card to transfer it over.
- Free credit score: Check your VantageScore 3.0 credit score from TransUnion whenever you’d like.
- Shopping and travel protections: Cell Phone Protection, Extended Warranty Protection, Auto Rental Collision Damage Waiver, and more
- Purchase APR: 0%* for 20 billing cycles on purchases, then 14.49% - 24.49%* Variable
U.S. Bank Cash+™ Visa Signature® Card
- Balance transfer APR: 0% for 12 billing cycles on Balance Transfers*, for transfers requested within 60 days, then 13.99% - 23.99%* Variable
- Balance transfer fee: 3%
- 5% cash back on your first $2,000 in combined net purchases each quarter on two categories you choose
- 2% cash back on your choice of one everyday category (like gas or groceries)
- 1% cash back on everything else
- $200 cash bonus for spending $1,000 in the first 120 days after account opening
- Annual fee: $0*
- Receive a $100 bonus on your statement when you spend $500 in your first six months from account opening.
- Lower your interest rate by 2% each year. Automatically be considered for an APR reduction when you pay on time, and spend at least $1000 on your card by your next account anniversary.
- Raise your credit limit. Get an automatic, one-time review for a higher credit limit when you pay on time, and spend $500 in your first six months.
- 0% Intro APR for 12 months from account opening on purchases and balance transfers, then a variable APR of 14.99 – 23.74%.
- No annual fee
The Chase Slate Edge℠ (Review) has a standard balance transfer offer:
- Balance Transfer APR: 0% for 12 months, then 14.99%–23.74% Variable
- Balance Transfer fee: 3%, $5 minimum
A nice feature here is that Chase will consider increasing your credit limit after your first five on-time monthly payments, giving you a bit more spending power. It could also help decrease your credit utilization.
- $100 statement credit for spending $500 in the first 6 months of account opening
- Raise your credit limit: Spend $500 and pay on time in the first six months, and you’ll be automatically considered for a credit limit increase.
- Lower interest rate by 2% each year: Spend $1,000 and pay on time in an account anniversary year, and you’ll be automatically considered for a 2% APR reduction (down to a certain rate).
- Purchase APR: 0% for 12 months, then 14.99%–23.74% Variable
- Balance Transfer APR: 0% for 12 months, then 14.99%–23.74% Variable
- Balance Transfer fee: 3%, $5 minimum
- Annual fee: $0
The information related to Chase Slate Edge℠ has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
The Navy Federal Credit Union Platinum Card (Review) isn’t too flashy, but it’s excellent for balance transfers.
- Balance Transfer APR: 0% for 12 months, then 5.99% - 18.00% Variable (for transfers made within 30 days of account opening)
- Balance Transfer fee: None
Take note that you’ll have to make your transfers within the first 30 days to get the 0% rate, which is a bit tighter than some other cards. After that, any transfers will be at the regular rate.
Like most cards designed around balance transfers, there isn’t much else here, aside from a relative lack of fees (no annual fee, foreign transaction fee, or cash advance fee).
- Member Deals: Earn extra rewards, get free shipping, and find special offers from select retailers.
- Free FICO credit score: Check your FICO Score 9 whenever you’d like, based on your Equifax credit report.
- Shopping and travel protections: Cell Phone Protection, Collision Damage Waiver, Extended Warranty, and more
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- To earn cash back, pay at least the minimum due on time.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- The standard variable APR for Citi Flex Plan is 13.99% – 23.99% based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion
This card’s got a pair of excellent features: An unusually long 0% balance transfer offer along with the best flat-rate rewards program in the game.
- Balance Transfer APR: 0% for 18 months on Balance Transfers, then 13.99% – 23.99% (Variable) (for transfers requested in the first four months)
- Balance transfer fee: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 min).
But take note that you’ll only get that low rate for transferred balances. Purchases will be subject to the regular APR, so be sure to pay them off each month.
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The cash back rewards you earn with the Double Cash can be redeemed for statement credits, which is the typical way. But you can also convert them to ThankYou points, which allows you to find a better value through transfers to airlines.
With the Double Cash you’re limited to just JetBlue as a transfer partner; but if you also have the Citi Prestige® Card or Citi Premier® Card, you’ll have access to a much wider selection.
- Citi Concierge: Call for non-emergency help whenever you need it, like assistance making travel reservations.
- ShopRunner membership: Use ShopRunner to get free two-day shipping and returns at participating retailers.
- Free credit score: Check your FICO Bankcard Score 8 for free, based on your Equifax credit report.
- Purchase APR: 13.99% – 23.99% (Variable)
Citi Rewards+® Card
- Purchase and balance transfer APR: 0% for 15 months (for transfers made in the first 4 months), then 13.49% - 23.49% (Variable)
- Balance transfer fee: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 min).
- 2X ThankYou points per dollar spent (on the first $6,000 spent per year, then 1X) at:
- Supermarkets
- Gas stations
- 1X ThankYou point per dollar for all other purchases
- Earn 20,000 bonus points for spending $1,500 in the first 3 months
- Point Round Up: Every purchase will round up to the nearest 10 points.
- 10% Points Back: For the first 100,000 ThankYou points redeemed per year
- Annual fee: $0
Citi is a Credit Card Insider advertiser.
Like many reward cards, the Discover it® Cash Back (Review) offers a solid balance transfer offer that can help you pay down your debt more quickly and for less overall.
- Balance Transfer APR: See Terms for See Terms, then See Terms (for transfers requested in the first 90 days)
- Balance Transfer fee: See Terms
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The 5% cash back calendar for 2021 is:
| Quarter | 5% Cash Back Categories |
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| January – March | Grocery Stores, Walgreens, CVS |
| April – June | Gas Stations, Wholesale Clubs, Select Streaming Services |
| July – September | Restaurants, PayPal |
| October – December | Amazon.com, Target.com, Walmart.com |
- Free credit score: Track your FICO Score 8 over time, based on your TransUnion credit report.
- Social Security number alerts: Get notified if your SSN is found on any thousands of risky websites.
- Inquiry and new account alerts: Alerts if any new credit inquiries or accounts show up on your Experian credit report
- Purchase APR: See Terms for See Terms, then See Terms
- No foreign transaction fee
Discover it® chrome
- Purchase and balance transfer APR: See Terms for See Terms, then See Terms (for transfers requested in the first 90 days)
- Balance transfer fee: See Terms
- Purchase APR: See Terms for See Terms, then See Terms
- 2% cash back on up to $1,000 spent per quarter (then 1%) at:
- Gas stations
- Restaurants
- 1% cash back on all other purchases
- Cashback Match: Get double cash back for the first year, provided at the end of the first year
- No foreign transaction fee
- Annual fee: $0
- Earn up to $550 cash back in the first year.
- $200 bonus after spending $1,000 in eligible net purchases within the first 120 days of account opening.
- 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose. That adds up to $400 cash back!
- 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 13.99% – 23.99%
- No annual fee*
- Great Offer from U.S. Bank, a 2020 World’s Most Ethical Company® – Ethisphere Institute, February 2020
The U.S. Bank Cash+™ Visa Signature® Card (Review) is a card that doesn’t get much hype, but it can be surprisingly valuable.
- Balance Transfer APR: 0% for 12 billing cycles on Balance Transfers*, then 13.99% - 23.99%* Variable (for transfers requested in the first 60 days)
- Balance transfer fee: 3%
You can pick your own 5% cash back categories (two of them), with quite a nice selection of choices, giving you more flexibility than almost any other card. You can even choose another 2% “everyday” category.
All that comes with a balance transfer offer that’s a bit shorter than some other reward cards, but it still gives you a fair bit of time before you’ll be hit with the regular APR.
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You can pick from any two of these:
| 5% Cash Back Categories | ||
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| TV, Internet, Streaming Services | Cell Phone Providers | Department Stores |
| Electronics Stores | Fast Food | Furniture Stores |
| Gyms/Fitness Centers | Ground Transportation | Home Utilities |
| Movie Theaters | Select Clothing Stores | Sporting Goods Stores |
And one of these:
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| Gas Stations | Grocery Stores | Restaurants |
- Visa Signature Luxury Hotel Collection: Perks for eligible bookings, like a $25 food and beverage credit, room upgrades when available, and more
- Free credit score: Check your VantageScore 3.0, based on your TransUnion credit report.
- Shopping and travel protections: Extended Warranty, Purchase Security, Auto Rental Collision Damage Waiver, Roadside Dispatch, and more
- Purchase APR: None for None, then 13.99% - 23.99%* Variable
- Min. credit levelGood
- Annual Fee$0
- Purchase APR0% intro APR for 15 months from account opening, then 14.99%-24.99% Variable APR Variable
A lot of flat-rate cash back cards offer nice intro offers for balance transfers, and the Wells Fargo Active Cash℠ Card (Learn More) (Review) is no different.
- Balance transfer APR: 0% for 15 months from account opening on qualifying balance transfers, then 14.99%-24.99% Variable APR Variable
- Balance transfer fee: 3% for 120 days from account opening, then up to 5%; min: $5
Along with plenty of time to pay off a balance transfer, you’ll get a solid flat rate on every purchase, with an introductory bonus to boot.
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- Free FICO credit score: Check your FICO Score 9 online whenever you’d like, based on your Experian credit report.
- Visa Signature Concierge: Get 24/7 assistance with non-emergency tasks like travel planning, restaurant reservations, and gift hunting.
- Visa Signature Luxury Hotel Collection: Pay with your card to get perks at select hotels around the world, like a $25 food/beverage credit, complimentary WiFi and breakfast for two, automatic room upgrades when available, VIP Guest status, and more.
- Cellular Telephone Protection: Provides reimbursement for damage or theft of cell phones, up to $600 per claim and two claims per 12 month period, with a $25 deductible. You must pay your phone bill with the card to be eligible.
- Roadside Dispatch: Call 1-800-847-2869 if you need help on the road, with some services at set prices like towing, tire changing, jump starting, and lockout service.
- Travel and Emergency Assistance Services: Includes help with medical and legal referrals, emergency transportation, ticket replacement, lost luggage location, emergency translation, and more.
- Purchase APR: 0% intro APR for 15 months from account opening, then 14.99%-24.99% Variable APR Variable
- Balance Transfer APR: 0% intro APR for 15 months from account opening on qualifying balance transfers, then 14.99%-24.99% Variable APR Variable
- Balance Transfer fee: 3% for 120 days from account opening, then up to 5%; min: $5
- Annual fee: $0
Wells Fargo Visa Signature® Card
- Purchase and balance transfer APR: 0% for 15 months, then 13.49%–26.49% Variable (for transfers requested in the first 120 days)
- Balance transfer fee: 3%, $5 minimum for 120 days then up to 5%, $5 minimum
- 5X reward points per dollar in the first 6 months, up to $12,500 spent at:
- Gas stations
- Grocery stores
- Drugstores
- 1X reward point per dollar spent on all other purchases
- Annual fee: $0
Wells Fargo Rewards Card
- Purchase and balance transfer APR: 0% for 15 months, then 17.49%–26.49% Variable (for transfers requested in the first 120 days)
- Balance transfer fee: 3%, $5 minimum
- 5X reward points per dollar in the first 6 months, up to $12,500 spent at:
- Gas stations
- Grocery stores
- Drugstores
- 1X reward point per dollar spent on all other purchases
- Annual fee: $0
Wells Fargo Business Platinum Credit Card
- Purchase and balance transfer APR: 0% for 9 months, then Prime + 7.99% to Prime + 17.99% Variable (for transfers requested in the first 120 days)
- Balance transfer fee: 4%, $10 minimum
- Choose one:
- Cash Back Option: 1.5% cash back for every purchase
- Reward Points Option: 1X point per dollar for every purchase, and 1,000 bonus points for spending $1,000 in a monthly billing period
- No foreign transaction fee
- Annual fee: $0
- No annual fee
- $200 cash rewards bonus for spending $1,000 in the first 90 days
- NEW OFFER: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings
- Now earn 3% cash back in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases
- You can update your choice category for future purchases once each calendar month using the Mobile Banking app or Online Banking, or do nothing and it stays the same
- No expiration on rewards
- 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99%–23.99% Variable APR will apply. A 3% fee (min $10) applies to balance transfers
- If you’re a Preferred Rewards member, you can earn 25% – 75% more cash back on every purchase
BofA makes a strong appearance here with an excellent card offer: The Bank of America® Customized Cash Rewards Card (Review) gives you quite a while at no interest for balance transfers, almost as long as any other card.
- Balance transfer APR: 0% for 15 billing cycles, then 13.99%–23.99% Variable
- Balance transfer fee: 3%, $10 minimum
The balance transfer fee is pretty standard. Cardholders also get a valuable and flexible rewards program, allowing you to pick your favorite 3% cash back category out of six options.
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JetBlue Plus Card
- Balance transfer APR: 0% for 12 months (for balance transfers made within 45 days of account opening), then 18.24%, 22.24%, or 27.24% Variable
- Balance transfer fee: 3%, $5 minimum
- Purchase APR: 18.24%, 22.24%, or 27.24% Variable
- 6X points per dollar spent on JetBlue purchases
- 2X points per dollar spent at:
- Restaurants
- Grocery stores
- 1X point per dollar spent on all other purchases
- 70,000 bonus points for paying the annual fee and spending $1,000 in the first 90 days
- No foreign transaction fee
- Annual fee: $99
JetBlue Card
- Balance transfer APR: 0% for 12 billing cycles (on balance transfers made within 45 days of account opening), then 15.99%, 19.99% or 24.99% Variable
- Balance transfer fee: 3%, $5 minimum
- Purchase APR: 15.99%, 19.99% or 24.99% Variable
- 3X points per dollar spent on JetBlue purchases
- 2X points per dollar spent at:
- Restaurants
- Grocery stores
- 1X point per dollar spent on all other purchases
- 10,000 bonus points after spending $1,000 on purchases in the first 90 days
- No foreign transaction fee
- Annual fee: $0
PenFed Pathfinder® Rewards Visa Signature® Card
- Balance Transfer APR: Promotional APR available (see details)
- 4X points per dollar on Travel for PenFed Honors Advantage members
- 3X points per dollar on Travel otherwise
- 1.5X points per dollar on all other purchases
- 50,000 bonus points for spending $3,000 in the first 90 days
- Perks: Priority Pass Select membership; $100 annual air ancillary credit; Global Entry/TSA PreCheck fee credit
- No foreign transaction fee
- Annual fee: $450
PenFed Power Cash Rewards Visa Signature® Card
- Balance Transfer APR: Promotional APR available (see details)
- Balance transfer fee: 3% per transaction
- Purchase APR: 14.99% to 17.99% Variable
- 1.5% cash back on all purchases made with your card
- 2% cash back on all purchases for PenFed Honors Advantage Members
- $100 statement credit after spending $1,500 in the first 90 days
- No foreign transaction fee
- Annual fee: $0
HSBC Cash Rewards Mastercard® credit card
- Purchase and balance transfer APR: 0% for 12 months, for transfers posted in the first 60 days, then 14.99–24.99% Variable
- Balance transfer fee: Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check.
- 3% cash back on all purchases in the first 12 months, up to $10,000 spent
- 1.5% cash back on all purchases after that
- Annual fee: $0
- Min. credit levelLimited Credit History
- Annual Fee$0
- Purchase APR0% for 15 billing cycles, then 13.99%–23.99% Variable
- $200 cash rewards bonus for spending $1,000 in the first 90 days
- New Offer: Maximize your cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings
- Now earn 3% cash back in your choice category and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases
- You can update your choice category for future purchases once each calendar month using the Mobile banking app or Online banking, or do nothing and it stays the same.
- No changing categories and no expiration on rewards
- 0% Introductory APR for 15 billing cycles for purchases and for any balance transfers made in the first 60 days, then, 13.99%–23.99% Variable APR. 3% fee (min $10) applies to balance transfers.
- If you’re a Preferred Rewards client, you can increase that bonus to 25% – 75%. Click “Apply Now” to learn more about Preferred Rewards.
- Now with chip technology for enhanced security and protection at chip-enabled terminals
- No annual fee
Student credit cards are made for people with limited or no credit, designed to help you bridge the gap between having no credit at all to getting that first credit card account on your credit reports. As such, most student cards aren’t great for paying down debt.
But there are a handful of exceptions, led by Bank of America, most notably the Bank of America Customized Cash Rewards™ Credit Card for Students (Review). Not only do you get a great intro period (which is long even compared to non-student cards), you’ll also have some rewards to earn on purchases.
- Balance Transfer APR: 0% for 15 billing cycles, then 13.99%–23.99% Variable (for transfers made within 60 days)
- Balance Transfer fee: 3%, $10 minimum
This card offer is quite similar to the regular Bank of America® Customized Cash Rewards Card (Review).
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- Bank of America Preferred Rewards: Eligible bank account holders get a 25%–75% bonus on rewards earned, depending on how much money is held in BofA and Merrill Lynch bank accounts.
- Free credit score: Check your FICO Score 8 for free, based on your TransUnion credit report.
- Visa Platinum or Signature benefits: Depending on creditworthiness
- Purchase APR: 0% for 15 billing cycles, then 13.99%–23.99% Variable
- Annual fee: $0
Wells Fargo Cash Back College Card
- Purchase and balance transfer APR: 0% for 6 months, for transfers made within 120 days, then 12.15%–22.15% Variable
- Balance transfer fee: 3%, $5 minimum for transfers made within 120 days; 5%, $5 minimum after that
- 3% cash back for the first 6 months, up to $2,500 spent, on:
- Gas stations
- Grocery stores
- Drugstores
- 1% cash back for every other purchase
- Annual fee: $0
Discover it® Student Cash Back
- Balance transfer APR: See Terms for See Terms, for transfers made by a specified date, then See Terms
- Balance transfer fee: See Terms
- Purchase APR: See Terms for See Terms, then See Terms
- 5% cash back in rotating categories, up to $1,500 spent per quarter, then 1% (activation required)
- 1% cash back for every other purchase
- Cashback Match: Double all cash back rewards earned in the first year
- No foreign transaction fee
- Annual fee: $0
Discover it® Student chrome
- Balance transfer APR: See Terms for See Terms, for transfers made by a specified date, then See Terms
- Balance transfer fee: See Terms
- Purchase APR: See Terms for See Terms, then See Terms
- 2% cash back, up to $1,000 spent per quarter, at:
- Gas stations
- Restaurants
- 1% cash back for every other purchase
- Cashback Match: Double all cash back rewards earned in the first year
- No foreign transaction fee
- Annual fee: $0
Most balance transfer cards are designed for good credit, or thereabouts, but you may find the Discover it® Cash Back (Review) to be accessible for people in the fair/average credit range.
Keep in mind that credit approval decisions are based on more than just credit scores; income and other factors play a role, too. So you may have better chances of approval than you first think; or, if you have good scores, it’s still possible to be denied.
- Balance Transfer APR: See Terms for See Terms, then See Terms (for transfers requested in the first 90 days)
- Balance Transfer fee: See Terms
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The 5% cash back calendar for 2021 is:
| Quarter | 5% Cash Back Categories |
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- Free credit score: Track your FICO Score 8 over time, based on your TransUnion credit report.
- Social Security number alerts: Get notified if your SSN is found on any thousands of risky websites.
- Inquiry and new account alerts: Alerts if any new credit inquiries or accounts show up on your Experian credit report
- Purchase APR: See Terms for See Terms, then See Terms
- No foreign transaction fee
Aspire Platinum Rewards Mastercard
- Purchase and balance transfer APR: 0% for 6 billing cycles, then 10.90%–18.00% Variable
- Balance transfer fee: 2%, $5 minimum
- 1X point per dollar for all purchases
- 5,000 points after spending $2,000 in the first 3 months of account opening
- Annual fee: $0
A bit of an outlier when compared to the cards above, the Discover it® Secured (Review) provides a reduced balance transfer APR offer with a relatively short introductory period. That’s likely the best you’re going to find with a secured card.
- Balance Transfer APR: See Terms for See Terms, then See Terms
- Balance Transfer fee: See Terms
If you’re desperate to transfer a high-interest balance, but your less-than-stellar creditworthiness keeps you from getting one of the above cards, the Discover it Secured might be worth your time.
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- Free credit score: Check and monitor your FICO Score 8, based on your TransUnion credit report.
- Social Security number alerts: Get notified if your SSN is found on any thousands of risky websites.
- Inquiry and new account alerts: Alerts if any new credit inquiries or accounts show up on your Experian credit report
- Purchase APR: See Terms
- No foreign transaction fee
What’s a Credit Card Balance Transfer?
A balance transfer is when you move a balance from one account to another. It’s often from one credit card to another, but balances from other types of accounts can sometimes be transferred too.
If you have a credit card balance with a high interest rate, you could end up paying far more than the original balance by the time it’s fully paid off. But, you may be able to transfer that balance to a different card with a lower APR (preferably 0%). Then, you could pay off the balance over time and it will cost less overall because the interest charges will be lower (or nonexistent, if you have a 0% rate).
The process is pretty simple, but the result could save you quite a bit of money. Learn all about balance transfers and how to conduct them.
Read more 2021 Survey: 78% Think Balance Transfers Are Effective for Debt Payoff or Reducing InterestWhat’s the Best Balance Transfer Credit Card?
There are a handful of great cards for balance transfers. Our favorites have 0% APRs for balance transfers, and some even have no balance transfer fees:
- Citi® Diamond Preferred® Card (Review)
- U.S. Bank Visa® Platinum Card (Review)
- Navy Federal Credit Union Platinum Card (Review)
- Amex EveryDay® Credit Card (Review)
How Long Does A Balance Transfer Take?
Balance transfers don’t happen instantly — they can take at least a few days, and in some cases they could take a while longer.
In most cases, you can expect balance transfers to be completed within a couple weeks. In general, a balance transfer to a card you already have will be quicker than a balance transfer to a new card you just opened.
Different issuers have different policies and different processing times, so there’s no one-size-fits-all answer. But you can take a closer look at some expected balance transfer processing times for major card issuers.
Does a Balance Transfer Help Your Credit Scores?
A balance transfer can affect your credit scores in a few different ways.
If you open a new credit card, that can reduce your average age of accounts (which can lower scores). You’ll also get a hard inquiry on your credit reports, which can have a slight negative effect.
But, opening a new card can also reduce your overall credit utilization, because you’ll be adding another credit limit into the mix. This can be good for your scores. And, if you transfer multiple balances onto the same card, reducing the number of accounts you have with balances, that can be good for your scores too.
The act of transferring a balance itself has no specific effect on credit scores, but the associated activity may have an effect. Overall, balance transfers are a bit of a mixed bag when it comes to your credit profile; find out more about how balance transfers affect your credit scores.
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