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Best Balance Transfer Credit Cards in May

Advertiser Disclosure: Most products in our articles are from partners who may provide us with compensation. However, opinions expressed here are author's alone, not those of any bank, credit card issuer, airline or hotel chain.

Trying to pay off credit card debt can be a huge undertaking. The interest rates alone can make it practically impossible to feel like you’re making meaningful headway.

The good news is that, with balance transfer credit cards, it’s possible to tackle that debt a little bit faster. A balance transfer can take away the interest charges for a limited period of time, allowing you to put all of your payments toward principal.

Balance Transfer Credit Cards
Citi® Diamond Preferred® Card
Balance Transfer Offer: 0% intro APR for 21 months on balance transfers from date of first transfer†
Annual Fee: $0
Citi Simplicity® Card
Balance Transfer Offer: 0% intro APR for 21 months on balance transfers from date of first transfer†
Annual Fee: $0
Citi® Double Cash Card
Balance Transfer Offer: 0% intro APR on balance transfers for the first 18 months
Annual Fee: $0
Citi Custom Cash℠ Card
Balance Transfer Offer: 0% intro APR on balance transfers and purchases for 15 months
Annual Fee: $0
Citi Rewards+® Card
Balance Transfer Offer: 0% intro APR for 15 months on balance transfers from date of first transfer†
Annual Fee: $0
Wells Fargo Active Cash® Card
Balance Transfer Offer: 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers
Annual Fee: $0 | Rates and Fees
Capital One Quicksilver Cash Rewards Credit Card
Balance Transfer Offer: 0% intro APR on purchases and balance transfers for the first 15 months. Variable APR based on creditworthiness applies after this offer concludes (See details on issuer site).
Annual Fee: $0
Capital One VentureOne Rewards Credit Card
Balance Transfer Offer: 0% intro APR on purchases and balance transfers for the first 15 months
Annual Fee: $0
Capital One SavorOne Cash Rewards Credit Card
Balance Transfer Offer: 0% intro APR on purchases and balance transfers for the first 15 months
Annual Fee: $0
Chase Freedom Flex℠ Card
Balance Transfer Offer: 0% intro APR on purchases and balance transfers for the first 15 months
Annual Fee: $0
Chase Freedom Unlimited® Card
Balance Transfer Offer: 0% intro APR on purchases and balance transfers for the first 15 months
Annual Fee: $0
† 0% APR offer also available for new purchases. See terms for details.

>>Read the methodology our credit card experts use to determine the best balance transfer cards from our credit card partners, or skip to most frequently asked questions about balance transfer cards.

Best Balance Transfer Credit Cards in May 2022 From Our Partners

If you’re looking for a way to bypass the interest and supercharge your debt repayment efforts, here are the best balance transfer credit cards available from our partners.

Citi® Diamond Preferred® Card

Offer Details

Secure application on issuer’s website.

Annual Fee: $0
Bonus: None
APR: Variable APR Between 14.49% – 24.49% After Intro 0% APR Period
Rewards Rate: None
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: New cardholders enjoy an introductory 0% APR on balance transfers for 21 months from the date of first transfer. Note that all balance transfers must occur within the first four months of opening the account.

New customers also enjoy 0% APR on new purchases made during the first 12 months of account opening.

Once the no-interest offer concludes, a variable APR between 14.49% – 24.49%, based on creditworthiness, will apply to all balances.

If you transfer a balance with this offer, after the 0% intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balance, are paid in full. Furthermore, there is a balance transfer fee of either $5 or 5% of the transfer amount, whichever is greater.

APR: After the intro 0% APR offer concludes, a variable APR will apply.

Rewards Rate: None

Sign-Up Bonus: None

Who Should Use This Credit Card? Borrowers who need more time to pay off debt or big-ticket purchases.

Why We Like It

Why We Like the Citi® Diamond Preferred® Card

If you need a little more time to make a dent in your debt, the Citi® Diamond Preferred® Card, from our partner Citi, offers you the chance to make it happen. The extended 21 months of 0% intro APR is the biggest reason this credit card is among the best for balance transfers to wipe out existing credit card debt

On top of that, you also get a 0% intro APR on purchases for 12 months. While this card has no annual fee, it does have a balance transfer fee of $5 or 5% of the amount of the transfer, whichever is greater. However, interest savings are likely to offset any balance transfer fee.

The Citi Diamond Preferred Card, from our partner Citi, offers new cardholders 21 months of 0% introductory APR from the date of first transfer. This long-term balance transfer offer makes this card among the best for balance transfers to wipe out existing credit card debt. Note that all balance transfers must occur within the first four months of opening the account.

Once the no-interest offer concludes, a variable APR, based on creditworthiness, will apply to all balances.

If you transfer a balance with this offer, after the 0% intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balance, are paid in full. Furthermore, there is a balance transfer fee of either $5 or 5% of the transfer amount, whichever is greater.

New customers also enjoy 0% APR on new purchases made during the first 12 months of account opening. Read our full review of the Citi Diamond Preferred Card.


Citi Simplicity® Card

Offer Details
Citi Simplicity card art

Secure application on issuer’s website.

Annual Fee: $0
Bonus: None
APR: Variable APR Between 15.49% – 25.49% After Intro 0% APR Period
Rewards Rate: None
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: Receive 0% APR for 12 months on purchases from date of account opening and 21 months on balance transfers from the date of first transfer. Note that balance transfers must be made within the first four months of account opening to be eligible for the no-interest offer. After the no-interest offer expires, a variable APR between 15.49% – 25.49%, based on your creditworthiness, will be applied to all balances. There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater.

APR: After the intro 0% APR offer concludes, a variable APR will apply.

Rewards Rate: None

Sign-Up Bonus: None

Who Should Use This Credit Card? People who want to take advantage of long-term 0% APR for either balance transfers or new purchases.

Why We Like It

Why We Like the Citi Simplicity® Card

The Citi Simplicity Card, from our partner Citi, is relatively straightforward in its offering, but don’t let that fool you — the value you could gain from getting it could be worth hundreds or even thousands of dollars.

The card’s primary feature is its introductory 0% APR promotion for 21 months on balance transfers, giving you nearly two years to pay down a big credit card balance transferred to this credit card. In other words, you can use the Citi Simplicity to pay off some or all of a balance on another credit card, then pay it off interest-free for 21 months.

The Citi Simplicity Card, from our partner Citi, is relatively straightforward in its offering, but don’t let that fool you — this balance transfer card’s value could be worth hundreds or even thousands of dollars.

The Citi Simplicity Card’s primary feature is its introductory 0% APR offer, which goes for 21 months on balance transfers from the date of your first transfer (note, however, that all transfers must be completed within four months to qualify for the promotion). The only catch is that you’ll need to pay a balance transfer fee of either $5 or 5% of the transfer amount, whichever is greater.

The card also offers new cardholders introductory 0% APR on new purchases made within the first 12 months of account opening. Read our full review of the Citi Simplicity Card.


Citi® Double Cash Card

Offer Details

Secure application on issuer’s website.

Annual Fee: $0
Bonus: None
APR: Variable APR Between 14.74% – 24.74% After Intro 0% APR Period
Rewards Rate: 2% Cash Back
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: New cardholders enjoy 0% introductory APR on all balance transfers for the first 18 months of account opening and are charged an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, the fee will be 5% of each transfer (minimum $5). Once the no-interest offer concludes, a variable APR between 14.74% – 24.74%, based on creditworthiness, will apply to all balances.

APR: After the intro 0% APR offer concludes, a variable APR will apply.

Rewards Rate: The card offers 2% cash back on all purchases: 1% when you make a purchase; 1% when you pay the card balance.

Sign-Up Bonus: None

Who Should Use This Credit Card? People who want simple, flat-rate cash back on all of their spending.

Why We Like It

Why We Like the Citi® Double Cash Card

The Citi® Double Cash Card, from our partner Citi, is among the top cards on the market for general spending. Forget the cards that offer 1% and 1.5% cash back. The Citi Double Cash Card offers you a whopping 2% cash back for all spending. Earn 1% back when you make a purchase and 1% back when you pay your account balance.

The credit card’s rewards rate makes it perfect for all of the odds and ends you buy from random stores and uncategorized vendors.

The Citi Double Cash Card, from our partner Citi, offers attractive and uncomplicated cash back for people who value a flexible credit card reward program. The Citi Double Cash Card gives you the chance to earn 2% cash back on you purchases. You can receive 1% cash back when you make a purchase and an additional 1% cash back once you pay your bill. 

While there is no sign-up bonus for new members, this cash-back card comes with a competitive 18-month, 0% APR introductory balance transfer offer for new cardholders. After which, you’ll pay a variable APR based on your creditworthiness on any unpaid balances. Read our full review of the Citi Double Cash Card.


Citi Custom Cash℠ Card

Offer Details
CITI Custom Cash card art

Secure application on issuer’s website.

Annual Fee: $0
Bonus: $200
APR: Variable APR Between 14.74% – 24.74% After Intro 0% APR Period
Rewards Rate: 5% Back in Top Eligible Spend Category
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: New cardholders can enjoy an introductory 0% APR on balance transfers and purchases for 15 months. After that, the variable APR will be based on your creditworthiness. Note that there is a balance transfer fee of $5 or 5% of the transfer, whichever is greater. Furthermore, balance transfers need to occur during the first four months of account opening.

Once the no-interest offer concludes, a variable APR between 14.74% – 24.74%, based on credit worthiness, will apply to all balances.

APR: After the intro 0% APR offer concludes, a variable APR will apply.

Rewards Rate: The card offers 5% cash back on purchases in your top eligible spending category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.

Sign-Up Bonus: Earn $200 in cash back after you spend $750 on purchases in the first three months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Who Should Use This Credit Card? People who want flexibility in their spending rewards.

Why We Like It

Why We Like the Citi Custom Cash℠ Card

The Citi Custom Cash Card, from our partner Citi, has a novel approach to rewarding spending. The credit card offers an impressive 5% cash back on purchases made in your top eligible spending category each month, up to $500 spent per month — no activation required. After that, you’ll earn just 1% back on every purchase because that’s the base rewards rate.

The list of eligible bonus categories includes restaurants, gas stations, grocery stores, select travel and transit, select streaming services, drug stores, home improvement stores, fitness clubs and live entertainment.

Cardholders can redeem their ThankYou Points for cash back as a direct deposit, statement credit or check. Alternatively, they can redeem their points for gift cards, travel and online shopping via Amazon.com. The ThankYou rewards program also partners with a number of airlines, both domestic and international, and you can transfer your points to these frequent flyer programs.

The Citi Custom Cash Card, from our partner Citi, gives cardholders the chance to earn 5% cash back every month on their top eligible spending category, up to $500 each month — no activation required. This Citi card is technically billed as a cash-back credit card, but you’ll actually earn ThankYou Points, which can be worth more than traditional cash-back rewards.

Citi Custom Cash Card is offering $200 cash back after you spend $750 in the first three months — that’s 20,000 ThankYou Points, which you can redeem for cash back or for a number of other things, including gift cards and travel. Plus, new cardholders can enjoy an introductory 0% APR on balance transfers and purchases for 15 months. After that, the variable APR will be based on your creditworthiness. Read our full review of the Citi Custom Cash Card.


Citi Rewards+® Card

Offer Details
Citi rewards+ card art

Secure application on issuer’s website.

Annual Fee: $0
Bonus: 20,000 ThankYou Points
APR: Variable APR Between 14.24% – 24.24% After Intro 0% APR Period
Rewards Rate: 1X-5X ThankYou Points
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: New cardholders can enjoy an introductory 0% APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening. Afterwards, any balances will carry a variable APR based on creditworthiness. Note that there is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, the balance transfer fee is 5% of each transfer ($5 minimum).

APR: After the intro 0% APR offer concludes, a variable APR between 14.24% – 24.24% will apply.

Rewards Rate: The card offers 5X ThankYou Points per dollar spent on air travel and hotels up to $6,000 in the first 12 months (and then the point-to-dollar ratio becomes 1:1 thereafter). Additionally, earn 2X ThankYou Points per dollar spent at grocery stores and gas stations for the first $6,000 per year (after that, the point-to-dollar ratio is 1:1). Otherwise, the card awards 1x ThankYou Points per dollar spent on all eligible spending.

Sign-Up Bonus: Earn 20,000 bonus ThankYou Points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com

Who Should Use This Credit Card? People who make lots of small purchases.

Why We Like It

Why We Like the Citi Rewards+® Card

The Citi Rewards+ Card, from our partner Citi, has a novel approach to rewarding spending. It rounds up all purchases to the nearest 10 ThankYou Points. As an example, if you bought a cup of coffee for $2, you’d earn 10 ThankYou Points. Similarly, if a burger and fries cost $15, you’d earn 20 ThankYou Points. Awesome, right?

If you make a lot of small purchases, like a morning cup of coffee, this could be the card for you. The Citi Rewards+ Card also earns 2X ThankYou Points per dollar spent at grocery stores and gas stations up to the first $6,000 each year. Plus, for a limited time earn 5X ThankYou Points per dollar spent on air travel and hotels up to $6,000 in the first year. The card offers introductory 0% interest on purchases and balance transfers for the first 15 months.

Citi Rewards+ Card, from our partner Citi, is a cash-back rewards credit card with no annual fee. The card includes unique features, including a round-up to the next 10 Thank You Points on any purchase and 10% back on redemptions. New cardholders can earn 20,000 bonus ThankYou Points after spending $1,500 in the first three months of the account opening date for a limited time. Additionally, new cardholders earn 5x ThankYou points per dollar spent on air travel and hotels up to $6,000 in the first 12 months (then the points-per-dollar ratio becomes 1:1 thereafter).

When shopping with the Citi Rewards+ Card, you’ll earn 2x ThankYou Points per dollar spent at supermarkets and gas stations up to $6,000 in annual purchases. That means you can earn up to 12,000 points per year from these bonus category purchases. Any other purchases beyond $6,000 earn the card’s regular rewards rate of 1x point per dollar. Read our full review of the Citi Rewards+ Card.


Wells Fargo Active Cash® Card

Offer Details

Secure application on issuer’s website.

Annual Fee: $0
Bonus: Earn a $200 cash rewards bonus
APR: Variable 15.74%, 20.74%, or 25.74% APR After Low Intro APR Period
Rewards Rate: 2% cash rewards on purchases
Details: Full Review

Rates and Fees

Offer Terms

Annual Fee: $0

Intro APR: The card offers an introductory 0% APR for the first 15 months from account opening on purchases and qualifying balance transfers, then the regular APR is applied to balances. Balance transfers must be made within the first 15 months of membership to qualify for the introductory 0% APR and 3% balance transfer fee. After the promotional period, balance transfer fees increase to 5% (minimum of $5).

APR: After the intro low APR offer concludes, a variable APR will apply.

Rewards Rate: The card offers unlimited 2% cash rewards on purchases.

Sign-Up Bonus: New cardholders earn a one-time $200 cash rewards bonus after spending $1,000 in purchases in the first three months.

Who Should Use This Credit Card? People who prioritize simple cash rewards and do not want the hassle of tracking bonus spending categories.

Why We Like It

Why We Like the Wells Fargo Active Cash® Card

If you’re a fan of earning cash rewards for your everyday spending, then you need a credit card that rewards you for purchases outside of popular bonus categories like travel, grocery stores and gas stations. With the Wells Fargo Active Cash® Card (Rates and Fees), you earn 2% back for every dollar spent without the fuss of tracking specific bonus categories. Plus, cash rewards do not expire as long as your account remains open.

It’s rare for a 2% rewards card to feature a bonus offer for new cardholders. Additionally, the introductory 0% APR offer for the first 15 months of card ownership will be appealing to households planning on expensive projects like home remodeling or big-ticket purchases like appliances and vehicle repair.

Many rewards credit cards tempt you with bonus rewards for specific purchases, but with the Wells Fargo Active Cash® Card (Rates and Fees), you simply receive a 2% cash rewards on purchases. There’s no need to register for anything, and there is no annual fee to carry this credit card in your wallet.

Wells Fargo Active Cash® Card applicants can earn a $200 cash rewards bonus after spending $1,000 on the card within the first three months of account opening. Additionally, new accounts receive a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers (a 15.74%, 20.74%, or 25.74% variable APR applies after). Qualifying balance transfers must be made within 120 days of account opening. Read our full review of the Wells Fargo Active Cash® Card.


Capital One Quicksilver Cash Rewards Credit Card

Offer Details
capital one quicksilver card art

Secure application on issuer’s website.

Annual Fee: $0
Bonus: $200
APR: Variable APR After Intro 0% APR Period
Rewards Rate: 1.5%-5% Cash Back
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: Introductory 0% APR on purchases for 15 months, variable APR after that. The Capital One Quicksilver Cash Rewards Credit Card charges a 3% balance transfer fee for transferred balances during the 15-month promotion.

APR: Variable APR based on creditworthiness.

Rewards Rate: The card offers unlimited 1.5% cash back per dollar on every purchase you make and 5% cash back on hotels and rental cars booked through Capital One Travel, giving cardholders predictability and simplicity.

Sign-Up Bonus: New cardholders can earn a $200 cash bonus after spending $500 with the card during the first three months of account opening.

Who Should Use This Credit Card? Households that want a simple, flat-rate cash rewards without spending categories or annual fees.

Why We Like It

Why We Like the Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card features several standout benefits. The introductory, 15-month APR of 0% is notable, and so is the $200 bonus opportunity with a low $500 spending requirement for new cardholders. The potential cash back earnings with the Capital One Quicksilver Cash Rewards Credit Card are hard to ignore. You can maximize your rewards by making it your go-to everyday use credit card.

With no annual fee, all of your spending goes towards earning rewards. It’s even a great card to use when traveling internationally since it has no foreign transaction fees.

The Capital One Quicksilver Cash Rewards Credit Card is a popular cash-back credit card, offering unlimited 1.5% cash back on all purchases. Additionally, earn 5% cash back on rental cars and hotels booked through Capital One Travel.

New cardholders can take advantage of its sizable $200 cash sign-up bonus once you spend $500 within three months of account opening. Additionally, the Capital One Quicksilver Cash Rewards Credit Card offers an introductory 0% APR offer on purchases and balance transfers for 15 months (Variable APR based on creditworthiness applies after this offer concludes. See details on issuer site).

The benefits of this Capital One Quicksilver Cash Rewards Credit Card aren’t limited just to its cash-back rewards. To start out, there’s no annual fee, and the card also offers several key travel perks and purchase protections that help to make it a standout fee-free rewards card to add to your wallet. Read our full review of the Capital One Quicksilver Cash Rewards Credit Card.


Capital One VentureOne Rewards Credit Card

Offer Details
capital one ventureone card art

Secure application on issuer’s website.

Annual Fee: $0
Bonus: 20,000 Miles
APR: Variable APR After Intro 0% APR Period
Rewards Rate: 1.25X-5X Miles
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: The card offers an introductory 0% APR for the first 15 months from account opening on purchases. The VentureOne Rewards Card charges a 3% balance transfer fee for transferred balances during the 15-month promotion.

APR: After the intro 0% APR offer concludes, a variable APR will apply.

Rewards Rate: The card offers unlimited 1.25x miles per dollar on every purchase you make. You’ll also earn 5X miles on all hotel and rental car purchases that you make with the card through Capital One’s proprietary travel booking platform.

Sign-Up Bonus: New cardholders can earn 20,000 bonus miles after spending $500 with the card during the first three months of account opening.

Who Should Use This Credit Card? Travel rewards enthusiasts who want simplicity in credit card rewards and benefits without paying an annual fee.

Why We Like It

Why We Like the Capital One VentureOne Rewards Credit Card

The Capital One VentureOne Rewards Credit Card features several standout benefits. The introductory, 15-month APR of 0% is notable, and so is the 20,000 bonus mile opportunity with a low $500 spending requirement.

But perhaps the most appealing feature of this travel credit card is the ability to transfer miles to Capital One travel partners—an uncommon feature on a card with no annual fee.Plus, the ability to transfer miles to travel partners—both airlines and hotels—is arguably the most attractive feature of this travel card.

The Capital One Venture Rewards Credit Card offers a lot of value to beginner and expert travelers alike. This travel rewards credit card’s big upfront sign-up bonus and high ongoing rewards rate aren’t easy to beat, making it a solid option for a large audience.

You’ll also get a lot of flexibility when it comes time to redeem your travel rewards including access to booking travel through Capital One and a long list of transfer partners (both hotels and airlines). Similarly, with no foreign transaction fees, the Capital One Venture Rewards Credit Card is ideal for people who regularly make international purchases. Read our full review of the Capital One Venture Rewards Credit Card.


Capital One SavorOne Cash Rewards Credit Card

Offer Details
capital one savorone card art

Secure application on issuer’s website.

Annual Fee: $0
Bonus: $200
APR: Variable APR After Intro 0% APR Period
Rewards Rate: 1%-5% Cash Back
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: An introductory 0% APR on new purchases for the first 15 months of account membership, variable APR after that. The Capital One SavorOne Cash Rewards Credit Card charges a 3% balance transfer fee for transferred balances during the 15-month promotion.

APR: Variable APR based on creditworthiness.

Rewards Rate: The card offers unlimited 3% cash back per dollar spent on dining, entertainment, popular streaming services and grocery stores (excluding superstores like Walmart and Target). Additionally, earn 5% cash back per dollar on hotels and rental cars booked through Capital One Travel. It offers 1% back per dollar on all other purchases.

Sign-Up Bonus: New cardholders can earn a one-time $200 bonus after spending $500 with the card during the first three months of account opening.

Who Should Use This Credit Card? People who regularly spend on entertainment, dining and grocery stores, but do not want a credit card with an annual fee.

Why We Like It

Why We Like the Capital One SavorOne Cash Rewards Credit Card

Foodies and entertainment aficionados alike will find a lot of value with the Capital One SavorOne Cash Rewards Credit Card. After all, with no annual fee and a big $200 bonus to get started, there’s plenty to gain and little to lose by trying it out. When you carry a Capital One SavorOne Cash Rewards Credit Card, you’ll earn cash back rewards every time you swipe, dip, tap or click to checkout. As your cash back balance grows, your biggest question will be how to treat yourself when you cash out your rewards.

Plus, when you sign up as a new cardholder, you won’t pay any interest on purchases for the first 15 months. Once you reach that date, regular variable interest rates begin. Having more than a year interest-free can be a very useful benefit when you’re looking to make a large purchase or undertake a big project at home.

The Capital One SavorOne Cash Rewards Credit Card is an absolute cash-back powerhouse. It awards 3% cash back for every dollar spent at restaurants, grocery stores, entertainment venues and eligible streaming services, including Netflix, Disney+ and Hulu. Additionally, it awards 5% cash back for every dollar spent on hotels and rental cars booked through Capital One Travel and 1% back on all other purchases. That’s a lot of value for a cash-back credit card with no annual fee.

New Capital One SavorOne Cash Rewards Credit Card users can earn a one-time $200 cash bonus after spending $500 on the credit card in the first three months of account opening. You also won’t pay any interest on purchases or balance transfers for the first 15 months. Read our full review of the Capital One Savor One Card.


Chase Freedom Flex℠ Card

Offer Details

Secure application on issuer’s website.

Annual Fee: $0
Bonus: $200
APR: Variable APR After Intro 0% APR Period
Rewards Rate: 1%-5% Cash Back
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: New cardholders can enjoy an introductory 0% APR on both purchases and balance transfers for the first 15 months. After the introductory period, a variable rate will apply. Balance transfers made within the first 60 days of account membership will be charged a balance transfer fee of either $5 or 3% of the amount of each transfer. After 60 days, that balance transfer fees increases to either $5 or 5% of the amount of each transfer, whichever is greater.

APR: Variable APR depending on credit worthiness. See terms for details.

Rewards Rate: Earn 5% cash back on up to $1,500 spent each quarter in rotating categories (when you activate), 5% back on travel booked through Chase Ultimate Rewards, 3% back on dining, including takeout and delivery, 3% back at drugstores and 1% back on everything else.

Sign-Up Bonus: Receive a $200 bonus after you spend $500 in the first three months.

Who Should Use This Credit Card? People who want to maximize cash-back rewards with the option to get more value with travel redemptions.

Why We Like It

Why We Like the Chase Freedom Flex® Card

We love that the Chase Freedom Flex card expands on an already lucrative offering from Chase. The original Chase Freedom card was already a solid choice for cash-back enthusiasts, and this one raises the bar.

The Freedom Flex also gives cardholders access to Chase Ultimate Rewards, which is arguably the most versatile credit card rewards platform available. You’ll get plenty of redemption options at good rates. Plus, if you have one of the program’s travel credit cards, you can transfer points from your Chase Freedom Flex to your travel card account and get even more value and flexibility with how you redeem.

The Chase Freedom Flex Card is an excellent cash-back credit card for people who are looking to maximize rewards. Cardholders can take advantage of its excellent rewards rate: 5% cash back on rotating categories when you activate (up to $1,500 each quarter), 5% back on travel booked through Chase Ultimate Rewards, 3% back on dining, including takeout and delivery, 3% back at drugstores and 1% back on other purchases.

As a new Freedom Flex cardholder, you’ll also earn a $200 sign-up bonus after you spend $500 in the first three months.

The Freedom Flex also offers an introductory 0% APR on new purchases and balance transfers for the first 15 month from account opening. Read our full review of the Chase Freedom Flex Card review.


Chase Freedom Unlimited® Card

Offer Details

Secure application on issuer’s website.

Annual Fee: $0
Bonus: Extra 1.5% cash back on all purchases (up to $20,000 spent) in the first year
APR: Variable APR After Intro 0% APR Period
Intro Rewards Rate: 3%-6.5% Cash Back
Standard Rewards Rate: 1.5%-5% Cash Back
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $0

Intro APR: This card allows new cardholders to save money with an introductory 0% interest rate on new purchases and balance transfers for the first 15 months of account opening.

APR: Variable APR depending on credit worthiness.

Bonus: Earn an additional 1.5% cash back on all purchases (up to $20,000) in the first year of account opening. This bonus is valued at up to $300 in cash back, and increases rewards rates to: 6.5% cash back on travel booked through Chase, 4.5% back on dining (including takeout and eligible delivery services) and drugstore purchases and 3% back on all other purchases.

Rewards Rate: After the bonus 1.5% cash back intro offer period concludes, earn 5% cash back on travel booked through Chase Ultimate Rewards®, 3% back at drugstores and on dining purchases and 1.5% back on everything else.

Who Should Use This Credit Card? Households that prioritize cash-back rewards for everyday spending and Chase loyalists who are looking to maximize Ultimate Rewards earnings.

Why We Like It

Why We Like the Chase Freedom Unlimited® Card

You don’t need excellent credit to get the Chase Freedom Unlimited. In fact, many cardholders report getting approved with good credit. We like that the card offers a high flat rewards rate but also provides accelerated rewards on some common everyday spending categories. You’ll also get access to the Chase Ultimate Rewards portal, which allows you to use your cash-back earnings for travel rewards, gift cards and more.

And that sign-up bonus? Adding extra value to everyday spending categories like dining and travel help elevate this card above its competitors. Add the fact that there’s a 0% introductory APR for 15 months, an extra 1.5% cash back bonus during the first year of account holding and no annual fee, and you’ll see why the Chase Freedom Unlimited is among our favorite flat-rate cards.

The Chase Freedom Unlimited is a valuable all-around credit card with no annual fee. This cash-back card earns a rewards rate of 5% cash back on travel booked through Chase Ultimate Rewards, 3% back at drugstores, 3% back on dining, including takeout and eligible delivery services and a flat-rate 1.5% back on other purchases. There are no rotating categories to track, caps on how much you can earn or excluded purchase categories.

New cardholders can take advantage of its big sign-up bonus—enjoy an additional 1.5% cash back on all purchases (up to $20,000 spent) in the first year. This bonus is valued at up to $300 in cash back, and stacks with all the above rewards rates, meaning you can earn up to 6.5% cash back. Read our full review of the Chase Freedom Unlimited Card.


How Much Can You Save With a Balance Transfer Card?

The amount of money you can save with a balance transfer depends on the size of your credit card balance and your interest rate. Let’s say that you have $1,000 on a credit card with an APR of 17.49%. According to Bankrate’s calculator, if you make a payment of $50 each month, it will take you 24 months and you’ll pay $190 in interest over that time.

Now, if you get a balance transfer card with no balance transfer fee, you can pay $56 per month to have that debt paid off in 18 months — with no money going toward interest. That’s $190 you don’t have spend on interest. You could potentially save even more if you have a bigger balance or a higher interest rate.

For example, if you’ve got a credit card with a 22.49% APR and you’re only making $35 per month in payments, you’d pay $445 in interest and be in debt for 42 months.

You can see how a balance transfer, when you don’t have to pay interest, and you can make slightly higher payments, can save you hundreds of dollars. If you want to get out of debt faster, a balance transfer card can be a good step in the right direction.

Benefits of a Balance Transfer Card

Even with a balance transfer fee, though, you can still come out ahead with one of the best balance transfer credit cards. For example, let’s say you transfer $5,000 from a card with a 17.49% APR. You’re currently paying $200 per month. If you stick with that schedule, you’ll take 32 months to pay it off — and pay $1,263 in interest.

Now, if you perform a balance transfer to card with a 3% fee, you’ll have to pay off $5,150. If you can make a payment of $287 per month, you can have the total taken care of in 18 months, and save $1,113 in interest. Even paying the balance transfer fee, you come out ahead.

With a balance transfer credit card, you save money in interest and get out of debt faster.

What to Look for in a Balance Transfer Offer

When considering a balance transfer credit card, it’s important to pay attention to what matters to you, and what is likely to help you to reach your goals. Some features to pay attention to include:

  • Introductory period: Pay attention to how long the intro period lasts. Many of the best balance transfer credit cards come with a period of 15 months. If you need longer, though, you can look for a card with an 18-month or 21-month intro period.
  • 0% APR: Most balance transfer offers come with a 0% APR, but there are some with low rates of up to 3.99%. Try first for balance transfer offers that don’t charge interest so your entire payment goes to principal.
  • No or low balance transfer fee: Your best results come when there’s no balance transfer fee. However, cards that don’t charge a balance transfer fee are few and far between. If you have a big balance, look for a card with no fee, or one that charges a lower 3% fee instead of a 5% fee.
  • 0% APR purchase APR: When possible, look for a card that also offers 0% APR on new purchases. You might not get a purchase period as long as the balance transfer offer, but it can be a way to put off paying interest on purchases, especially if you’re making a large purchase.
  • Rewards program and signing bonuses: Don’t forget to consider rewards programs and signing bonuses that can make cards more efficient. You can earn cash back that can then put toward paying down your debt. As long as you work toward paying off what you spend each month and have a plan to pay off your balance before the end of the intro period, you should come out ahead.

Prioritize different features based on your immediate needs so that your most pressing issues are handled first. You might have to make trade-offs in order to get the best result.

How Do Balance Transfer Impact Credit Score?

A balance transfer can have an impact on your credit score first by resulting in a hard inquiry. When you apply for a credit card, the hard inquiry can lower your score by right around five points. On top of that, opening a new credit card affects the average age of your credit. New credit can mean a lower average age, which can also have a small negative impact on your score.

However, over time, the positive impact on your credit score can outweigh these issues. When you complete your balance transfer, your credit utilization changes. You end up with a smaller ratio, which can boost your score. As long as you keep making on-time payments on the new card, you’ll see positive impacts from your payment history. Credit utilization and payment history account for about 65% of your FICO score. Properly managing a balance transfer can boost your score.

Methodology

Balance transfer credit cards on this list were chosen to reflect a variety of spending styles and needs. Everyone has different preferences and goals, and this list is designed to help people with different expectations and needs in credit cards to have a better chance of choosing between some of the best balance transfer cards based on what works best for them.

It’s possible to find a balance transfer card that works for you, whether you’re looking for more manageable payments over a longer period of time or want to earn rewards on purchases even as you work toward paying down your debt.

Best Balance Transfer Credit Cards FAQ

Which Balance Transfer Card Offers the Longest Intro 0% APR period?

The U.S. Bank Visa Platinum Card offers the longest intro 0% APR period on both balance transfers and new purchases. You’ll pay no interest for 20 billing cycles (months) with the U.S. Bank Visa Platinum Card; neither will you pay an annual fee. While the U.S. Bank Visa Platinum Card does not offer rewards for everyday spending or a sign-up bonus, it’s designed specifically as a balance transfer credit card, and it does its job very well.

Can You Use the Discover it Card for Balance Transfers?

The Discover it Cash Back Card is a rewards credit card that also offers a generous 0% APR on both new purchases and balance transfers for the first 14 months of account opening. It charges an introductory balance transfer fee of 3%, but that transaction percentage can go as high as 5% outside of the initial offer. All in all, the Discover it Cash Back gives cardholders lots of time to pay down their transferred credit card balances, as well as new purchases. Add in the 5% cash-back rewards on quarterly rotating categories, and you have a lot of value for a card with no annual fee.

Does Aspire Do Balance Transfers?

The Aspire Platinum Mastercard is designed for people with fair credit who are looking do pay down high-interest debt and rebuild their credit. The Aspire Platinum gives new cardholders six months of introductory 0% interest on balance transfers and new purchases, but afterwards the variable APR is lower than other cards on this list. So if you’d rather pay lower interest on your credit card balance once the intro 0% APR concludes on month seven, then the Aspire Platinum could be the card to help you get back on your feet.

What Is the PenFed Balance Transfer Offer?

The PenFed Gold Visa Card offers new cardholders 12 months of 0% interest on both balance transfers and new purchases. Afterwards, the APR raises; so be sure to pay off any credit card balances before the offer ends to avoid fees. Unlike many other balance transfer credit cards, the PenFed Gold Visa also offers a sign-up bonus. New cardholders can earn a $100 statement credit after spending $1,500 during the first 90 days of account membership. That’s over 6% cash-back for your first $1,500 spent with the PenFed Gold. Note that since Pen Fed is a credit union, you’ll need to at least open a no-fee, basic savings account before applying for any Ped Fed credit cards.

What Is a Balance Transfer Credit Card?

Unlike rewards credit cards, a balance transfer card is a credit card specifically focused on encouraging consumers to move their debt. A balance transfer card usually offers a 0% APR for a limited period of time to attract borrowers who are tired of a high interest rate. In many cases, it’s possible to find a balance transfer card that will offer 0% APR on credit card balances for 12, 15, 18 or 21 months. Generally, your new card issuer pays off your debt with the other creditor and you make payments to your new creditor instead.

What Is a Balance Transfer Fee?

Many credit card issuers charge a fee to handle the process of moving your debt from your old creditor to the new card. It’s common for balance transfer fees to be between 3% and 5% of the amount you transfer. Some creditors might also impose a minimum fee of $5 or $10. This fee is typically added to your credit card balance. For example, if you transfer $2,000 to your new card, and the balance transfer fee is 5%, you’ll end up paying $100 to move the money. That amount is added to your balance, making it $2,100. However, the interest savings from moving your money could easily make up for your balance transfer fee.

How to Make a Balance Transfer

Most credit card issuers have their own instructions for making a balance transfer, and you can typically make the balance transfer through their secure websites or mobile apps. In general, though, you need to provide the following information to your new creditor: old creditor’s name, your account number and the payment address used by your previous creditor. Make sure you follow the directions provided by your new creditor to ensure that your balances are transferred properly.

How to Pay Your Credit Card Debt

When the economy turns south, it’s important to take some time to review and update your personal finances with the goal of debt-free living. One place you certainly shouldn’t ignore is your credit cards.

1. Take an Inventory of Your Credit Cards

Start by taking an inventory of your credit cards to make sure you understand the whole picture. You might have some cards you use every day and some older cards you don’t use very often. Whether they have a balance or not, it’s a good idea to make a list of every card you have.

When making your list, note these details for each card:

  • Card name
  • Card balance
  • Interest rate
  • Minimum payment (if you carry a balance)
  • Type of rewards (cash back or travel)
  • Rewards rates and bonus categories

With a solid list of cards in front of you, it’s easier to know which card to use when. Try to maximize the rewards, particularly with cash-back cards. But don’t spend any extra just to earn rewards and never spend more than you can afford to pay off in full every month by the due date.

There is no specific rule on the right number of cards to have. Review your typical spending habits and budget to make sure your card gives you the best rewards where you spend most.

2. Review Your Credit Card Annual Fees

If you have credit cards without annual fees, it’s a good idea to keep them even if you don’t use them regularly. Keeping credit cards open and in good standing for a long time can help build your credit. Closing cards with a positive payment history hurts your credit.

With many people looking to trim extra spending in their budgets, cutting cards with annual fees can make sense. Annual fees are well worth it for many people who get more back in rewards and benefits than the cost. But if you have a card that isn’t worth the cost to you, it may be worth making some changes.

Start by calling the number on the back of the card and asking to downgrade to a no-annual-fee version, if possible. This preserves your credit while lowering your annual fees. If there are no downgrades available, it may be the right move to cancel.

3. Consolidate Balances With 0% APR Offers

When writing about credit card rewards, I always remind readers that they should only use cards if they can pay off the balance in full every month. Doing so helps you avoid paying any interest charges. If you have outstanding balances on your cards, this could be a good time to consolidate and pay them off, if you’re able. Opening a new balance transfer credit card with a np-interest offer allows you to combine balances from other cards into one new card.

With a 0% introductory period, you can stop paying interest on your card for a year or two, depending on the card. This is hopefully enough time to pay off your balances for good. Just be sure to look out for balance transfer fees before applying for a new card. Balance transfer fees are often worth it, however, if they can save you a small fortune on interest every month.

The economic fallout from COVID-19 signaled many issuers to change their balance transfer benefits amid concerns that consumers would not be able to pay down their debts. The Blue Cash Preferred® Card from American Express once offered introductory no-interest balance transfer APR, but has since cancelled the benefit. Similarly, the Chase Slate once offered long-term zero-interest balance transfer APR, but has also withdrawn the offer.

4. Don’t Treat Credit Cards Like an ATM

One important rule: Don’t treat your credit card like an ATM. Cards have cash advance features, but those usually come with big fees and higher interest rates than regular purchases. In general, it’s a good practice to only use your credit cards for purchases you would have made anyway and can afford to pay off in full by the monthly due date.

If you find yourself in a dire financial situation, your best bet may be to put some living expenses on the card. However, try to keep that to an absolute minimum so you don’t get into a ton of debt that will be hard to pay off later.

I use my credit card for every single purchase and have never paid a penny in credit card interest. If you can follow the same habits, credit cards are an excellent financial tool to use in good or bad economic times. Just use your card with care to avoid excess debt that you’ll struggle to pay off.

While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.

Ryan M Tronier
Ryan M Tronierhttps://ryantronier.com/
Ryan Tronier is a personal finance expert and writer. His work has been published on NBC, ABC, USATODAY, The Mortgage Reports, Yahoo Finance, MSN, and more. Ryan is the former managing editor of the finance website Sapling, as well as the former personal finance editor at Slickdeals. Find him online at ryantronier.com.