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The best balance transfer credit cards are one of the best ways to pay off credit card debt with 0% interest. Being able to make interest-free payments for over a year can save you a small fortune in the process. The best credit cards for balance transfers offers have 0% APR promotional rates for up to 21 months.
The Credit Cards for Balance Transfers
Besides looking at how long the interest-free promotion period is, also compare the one-time transfer fee. This fee can be as high as 3% on the amount you transfer. Choosing a card with a lower fee lets you save some additional cash.
Also, keep in mind that you will need to transfer your existing card balance to a card issued by another bank. For instance, you will need to transfer your balance from Chase (like the ones listed in this best Chase credit card list) to a non-Chase bank like Capital One or Citi.
Citi Simplicity Card
The information for the Citi Simplicity® Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
The Citi Simplicity® Card usually has some of the longest balance transfer offers. Although there isn’t an annual fee, the balance transfer fee can be relatively high.
There is a 0% Intro APR for 21 months on balance transfers from the date of the first transfer and 0% Intro APR for 12 months on purchases from the date of account opening. After that, the variable APR will be 18.99% – 29.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
There is an introductory balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater for balance transfers completed within 4 months of account opening.
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card earns 1.5% cash rewards on all purchases. There is no limit to how much you can earn. You won’t pay an annual fee or foreign transaction fee. By spending $500 in the first 3 months of account opening, you also get a one-time $200 cash bonus.
Citi Double Cash Card
The information for the Citi® Double Cash Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
The Citi® Double Cash Card earns 2% cash back on every new purchase (1% at the time of purchase and 1% when you pay your statement balance). To earn the cash back, note that you must pay at least the minimum that is due on time.
There isn’t a signup bonus, and you also won’t pay an annual fee. You will need to have an excellent credit score for the Citi Double Cash.
American Express EveryDay Credit Card
The information for the American Express EveryDay Credit Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
You might not associate American Express with balance transfer credit cards. The American Express EveryDay Credit Card is one of the best credit cards for balance transfers because it is still useful after the promotion. You earn American Express Membership Rewards® points on every purchase that is most valuable when redeeming for award travel.
Plus, you can transfer American Express points on a 1:1 basis to airlines like Delta, Emirates, and Qantas to book award flights directly through the airline to book some of the best travel deals.
You earn 2x points at U.S. supermarkets (on the first $6,000 per year, then 1%) and 1x points on everything else. By making at least 20 card purchases each billing cycle, you get a 20% bonus on your monthly earnings.
Once your credit score crosses the 740 mark, you might consider one of the best American Express cards.
Blue Cash Everyday Card from American Express
Blue Cash Everyday® Card from American Express earns 3% cash back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%. Also, get 3% cash back on U.S. online retail purchases, up to $6,000 per year, then 1%, as well as 3% cash back at U.S. gas stations, on up to $6,000 per year in purchases, then 1%.
This is also one of the best credit cards for grocery purchases. There is a $0 annual fee (See Rates & Fees).
Credit Score Needed for Best Credit Cards for Balance Transfers
For all of these cards, you will have the best approval odds with a 670 credit score. This is the start of having good credit. A higher credit score can also mean getting a higher card limit so you can transfer a larger amount.
Check out the best credit cards for excellent credit to get an idea of rewards credit cards you might want to consider for the future.
If you’re on the brink of missing a monthly payment, consider one of these cards now if your score is in the mid to upper 600s. It’s still possible to qualify with a lower score, although your credit limit may not be as high.
Summary
Now is one of the best times to get a balance transfer credit card. If you can, try applying for a card that also waives the balance transfer fee. Otherwise, look for the card that offers the longest introductory period, so you have more time to pay off your balance in full.
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- How Long Does It Take to Transfer American Express Points?
- The Best Metal Credit Cards
- The Best Travel Credit Cards
For rates and fees of The Blue Cash Everyday® Card from American Express, click here.
