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We have all made mistakes Financial cards, like bad credit card debt, are difficult to undo A powerful tool for getting out of high-interest debt is a balance transfer credit card.
Best Balance Transfer Credit Cards
If you’re in a position where you can only afford to pay the minimum payment on a credit card with an APR of 20% or more – just transfer that balance to a credit card that pays 0. % Intro APR
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Some of the best credit cards offer 0% intro APR for up to 21 months You’ll still be responsible for making the minimum payment each month, but you won’t accrue any interest for a year or more, depending on the card you open. Below are the best balance transfer credit cards for almost any situation.
Our recommendations for the best balance transfer credit cards for October 2023 are the best for the longest intro period: card_name.
For card_name there is absolutely nothing for it The card does not earn rewards or have valuable ongoing benefits What you actually get is free access to your FICO score (which many cards offer these days) and some entertainment perks, like early access to sports and music ticket sales.
But for those looking for an absolute monster of a balance_transfer_intro_upper, balance_transfer_intro_duration, card_name delivers. In fact, there is not much flexibility in the market in this capacity No interest on balance transfer for 21 months You must complete your transfer within four months of opening your account
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It should also be noted that you will receive intro_apr_rate, intro_apr_duration After this window closes, you will be under reg_apr, reg_apr_ type APR
Card_name is remarkably similar to its sibling, card_name It does not earn rewards and its ongoing profits are low But the intro APR offer is exactly the same: balance_transfer_intro_appr, balance_transfer_intro_duration (and intro_pro_rate, intro_pro_duration). The transfer must be completed within four months of opening the account
After the intro APR window, the card is a reg_apr, reg_apr_type APR – slightly more than card_name. But the card name has one big advantage: You’ll never pay late fees or be subject to any penalty APR for late or late payments. Just note that you will pay a separate fee for the returned payment
You’ll get a solid 0% intro APR on both purchases and balance transfers for the first 18 months, after which you’ll be subject to a reg_apr, reg_apr_type APR. But for every cardmember year you spend $1,000 on purchases, Chase will automatically consider your card for a 2% APR reduction.
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Chase will also consider you for an increased credit limit if you make all your payments and spend at least $500 in the first six months of card membership.
Finally, you get unusually solid benefits for such a low-level card For example, you’ll receive secondary rental car insurance, Purchase Protection, three months of free DoorDash DashPass membership (activate by December 31, 2024) and three months of Instacart+ membership (activate by July 31, 2024).
Card_name is one of the trusted and complex cash back credit cards It also rests on the average intro APR terms: balance_transfer_intro_pr, balance_transfer_intro_duration, then reg_apr, reg_apr_type. As a comparison, most rewards credit cards offer 15 months or less
Card_name effectively earns 2% on all purchases: 1% back when you make a purchase and 1% back when you pay off that purchase. The rewards you earn are Technical City Thank You Points that you can redeem for cash at a rate of 1 cent each.
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For most cardholders, this is an unavoidable tidbit But if you also have card_name or card_name (not available to new applicants), you can transfer the rewards you earn with card_name to more than 15 airline and hotel loyalty programs for free travel. It’s not hard to get more than 1 cent each
Card_name comes with a welcome bonus of 1.5% bonus cash back (in addition to the card’s regular earning rate) on all eligible purchases up to $20,000 spent in the first year of card membership. That’s the equivalent of a $300 bonus – although you’ll have to spend a bit more to get it
The card also offers 0% intro APR on both purchases and balance transfers within the first 15 months. You will then pay a reg_apr, reg_apr_type based on creditworthiness
While the card is marketed as cash back, it actually earns Chase Ultimate Rewards® points — the most flexible points you can collect.
Best 0% Balance Transfer Plus Rewards Points Credit Cards
If card_name is the only Chase card, your best redemption options are cash back (at a rate of 1 percent per point) or gift cards (which pay 1.1 percent per point on some purchases). But if you’ve got a Chase Ultimate Rewards card (such as card_name) that comes with an annual fee, you unlock the ability to transfer points to valuable airline and hotel partners. Depending on which card you have, you can book trips through the Chase Travel Portal for up to 1.5 cents per point.
After opening your account, card_name provides intro_apr_rate, intro_apr_duration and balance_transfer_intro_apr, balance_transfer_intro_duration (see later reg_apr, reg_apr_type – Pricing and Fees). It comes with a $200 statement credit after spending $2,000 on purchases within the first six months of account opening.
This card puts cash in your pocket in more ways than one First, its earnings are both strong and practical You’ll earn 3% back at US supermarkets, US gas stations and US online retailers. Each of these categories will offer bonus cash back on up to $6,000 in spending – followed by 1%. You’ll get 1% back on all other purchases
Enrollment is required for both of these credits If you use one or both of these services, credit is as good as cash Either way, those are rare benefits for an annual fee credit card
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Card_name returns intro_apr_rate on purchases, intro_apr_duration on purchases and balance_transfer_intro_apr, balance_transfer_intro_duration on balance transfers. It comes with $200 cash back after you spend $1,500 on purchases within the first six months of opening your account.
This card will automatically identify your most eligible spending categories and give you 5% back on your spending (up to $500 per billing cycle). Eligible categories include:
Like card_name, the cash back you earn is redeemed as Citi ThankYou points If you hold a Citi Premier Card, you can convert your rewards into a variety of flight and hotel currencies.
Card_name returns intro_apr_rate, intro_pr_duration on purchases and balance_transfer_intro_duration on balance transfers, followed by a reg_apr, reg_apr_type. It’s rare to find a card that offers such a long intro APR for both balance transfers and purchases.
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This card doesn’t earn rewards for your spending, and most of its benefits will likely surprise you But it has a catch: cellphone insurance You get coverage up to $600 per claim against loss or theft (maximum two claims in 12 months) with just a $25 deductible. All you have to do is pay your monthly cell phone bill with the card, and you’ll be covered automatically
We tested the best balance transfer credit cards for almost every financial situation Only cards that were excellent for their specific target audience made our list We weighed each card’s benefits, ease of use, and 0% intro APR balance transfer window to find the absolute best option for you.
If you’re in the grip of credit card interest, it might be a good idea to open a balance transfer credit card to give yourself a break. Doing so will give you a window of up to 21 months to pay no interest (depending on the card you open), allowing you to put as much money towards the principal amount as possible.
Some credit cards also accept balances other than credit cards If you have a personal loan or an auto loan that you need a break from paying interest, a balance transfer card may be your answer.
Best Balance Transfer Credit Cards In 2023
Just note that you can only transfer a balance equal to or less than your balance transfer card’s credit line. If you have good credit, you may be approved for a line of credit for as little as $500. If you’ve got $5,000 in high-interest debt that won’t do much good.
Credit cards with extremely generous 0% intro APR terms usually don’t earn rewards Their main function is to satisfy your cravings
If you’re in the market for a balance transfer credit card, avoiding high interest rates is probably top of mind for you. However, you should weigh the pros and cons of opening a rewards credit card with a slightly smaller 0% APR window. You may be able to pay off your debt sooner than you think, thanks to the welcome bonuses and rewards you can earn.
The 0% intro APR is truly the only one