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Best Balance Transfer Credit Cards — July 2022

 1 year ago
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The 12 best balance transfer credit cards of July 2022

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If you find yourself carrying credit card debt — be it from the holiday season, an unexpected emergency, or plain old financial pressures — there could be an escape for you to keep from paying a ton of interest.

Fortunately, there's one type of credit card that can help you avoid paying interest on your debt if you use it the right way: a balance transfer credit card.

Wondering how we chose the best balance transfer cards? Jump to our methodology »

Here are the best balance transfer card offers available today based on their introductory offers, fees, and perks.

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Best for an extra-long intro APR on balance transfers and purchases: Wells Fargo Reflect℠ Card

4.8/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
Annual Fee
$0
Regular APR
14.49% - 26.49% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Extra-long intro APR on purchases and qualifying balance transfers
  • No annual fee
  • Cell phone protection
Cons
  • No rewards
  • Foreign transaction fees
Details Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
More Information
  • 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers. Intro APR extension of up to 3 months with on-time minimum payments during the intro and extension periods. 14.49% to 26.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min $5
  • $0 Annual Fee
  • Get up to $600 of cell phone protection when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
  • Through My Wells Fargo Deals, you can earn cash back in the form of a statement credit while you shop, dine, or enjoy an experience simply by using your eligible Wells Fargo Credit Card
  • Select "Apply Now" to learn more about the product features, terms and conditions

Best for late payment forgiveness: Citi Simplicity® Card

4.85/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
A tooltip
Annual Fee
$0
Regular APR
16.24% - 26.24% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Offers one of the longest intro APR periods for balance transfers (21 months)
  • No late fees or penalty APR for late payments
Cons
  • Higher balance transfer fee than some other cards
  • Doesn't offer rewards, so you may want to upgrade to another card once you're done paying off your debt
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  • No Late Fees, No Penalty Rate, and No Annual Fee... Ever
  • 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 16.24% - 26.24%, 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.
  • The standard variable APR for Citi Flex Plan is 16.24% - 26.24%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
  • Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges

Best for a long balance transfer period: Citi® Diamond Preferred® Card

4.7/5
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Editor's Rating
A tooltip
Annual Fee
$0
Regular APR
15.24% - 25.24% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Very long intro APR period for balance transfers
  • No annual fee
Cons
  • Charges a balance transfer fee
  • No rewards (but that’s not the point of this card)
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  • 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 15.24% - 25.24%, 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.
  • The standard variable APR for Citi Flex Plan is 15.24% - 25.24%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.

Best for groceries, gas, and online shopping: Amex Blue Cash Everyday

4.1/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
Annual Fee
$0
Regular APR
15.49% - 26.49% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Good bonus cash-back rate at US supermarkets
  • No annual fee
Cons
  • If you spend more than $6,000 at US supermarkets in a year, you should use another card to earn bonus rewards once you hit that cap
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  • Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
  • No Annual Fee.
  • Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 15.49% to 26.49% variable APR.
  • 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
  • New! 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
  • 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
  • Get $7 back each month after using your Card to spend $13.99 or more each month on an eligible subscription to The Disney Bundle, which includes Disney+, Hulu, and ESPN+. Enrollment required.
  • Terms Apply.

Best for earning flexible rewards on everyday spending: Chase Freedom Unlimited®

4.6/5
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Editor's Rating
Annual Fee
$0
Regular APR
16.49% - 25.24% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Solid flat cash-back rate
  • You can combine cash-back rewards with Ultimate Rewards points if you have an eligible card
  • No annual fee
Cons
  • Some other cards offer a higher rate of cash back on certain types of purchases
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  • Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49% - 25.24%.
  • No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.

Best for rotating bonus categories and flexible redemptions: Chase Freedom Flex℠

4.65/5
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Editor's Rating
Annual Fee
$0
Regular APR
15.74% - 24.49% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • No annual fee
  • Generous bonus cash-back categories
  • Great welcome bonus
Cons
  • Booking through Ultimate Rewards portal can restrict outside earning potential
  • Varying percentages and rotating calendar categories require extra attention
  • 3% foreign transaction fees
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  • Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
  • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
  • No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.74% - 24.49%.
  • No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Flex℠ card
  • Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.

Best for strong flat-rate cash back earning: Citi® Double Cash Card

5/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
A tooltip
Annual Fee
$0
Regular APR
15.49% - 25.49% Variable
Recommended Credit Score
Good to Excellent
A tooltip
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • No annual fee
  • Simple earning structure without confusing bonus categories
Cons
  • Some cards earn higher rates of cash back on rotating categories
  • No sign-up bonus
  • While it offers a 0% introductory APR for 18 months, that's only on balance transfers, not purchases, so you can't use it to fund a major expense without interest. After those 18 months, it's a 15.49% - 25.49% (Variable) APR.
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  • 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 15.49% - 25.49%, 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 15.49% - 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.

Best for automatically maximizing rewards: Citi Custom Cash℠ Card

4.7/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
A tooltip
Annual Fee
$0
Regular APR
15.49% - 25.49% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Flexibility to customize rewards by earning 5x points on up to $500 per billing cycle in your top spending category (from a list)
  • Generous welcome offer for a no-annual-fee card
  • No rotating bonus categories to sign up for or track
  • Earn valuable Citi ThankYou points which you can redeem for cash back, travel, gift cards, merchandise, and more
Cons
  • Only earns 1% back outside of $500 in top spending category each billing cycle
  • Foreign transaction fee of 3%
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  • Earn $200 in cash back after you spend $750 on purchases in the first 3 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
  • 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 15.49% - 25.49%, based on your creditworthiness.
  • Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
  • No rotating bonus categories to sign up for - as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
  • No Annual Fee
  • Citi will only issue one Citi Custom Cash℠ Card account per person.

Best for groceries, dining, streaming, and entertainment: Capital One SavorOne Cash Rewards Credit Card

4.1/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
Annual Fee
$0
Regular APR
16.49% - 26.49% (Variable)
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • No annual fee
  • Bonus cash back on dining, entertainment, and grocery store purchases
  • Long intro APR period for purchases and balance transfers
Cons
  • Other cards earn more cash back in certain bonus categories
  • Not the highest sign-up bonus among cash-back cards
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  • Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
  • Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • Earn 8% cash back on Capital One Entertainment purchases and tickets at Vivid Seats
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases and balance transfers for 15 months; 16.49% - 26.49% variable APR after that
  • No foreign transaction fee
  • No annual fee

Best for long intro APR on balance transfers and purchases: U.S. Bank Visa® Platinum Card

4.65/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
Annual Fee
$0
Regular APR
15.99% - 25.99% (Variable)
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Long intro APR period for balance transfers and purchases
  • Cell phone protection
Cons
  • No rewards
  • Balance transfer fee
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  • Limited Time Offer!
  • 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 15.99%-25.99%.
  • 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.
  • Choose a payment due date that fits your schedule
  • No Annual Fee
  • Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay(TM) Plan.
  • Terms and conditions apply.

Best for rotating cash-back bonus categories: Discover it® Balance Transfer

4.5/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
Annual Fee
$0
Regular APR
13.49% - 24.49% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • Earn 5% cash back in categories that rotate each quarter on up to $1,500 in spending after enrollment (then 1%)
  • Discover will match all the cash back you’ve earned after the first year
  • Generous introductory 0% APR on balance transfers for the first 18 months (then an 13.49% - 24.49% Variable APR)
Cons
  • No traditional welcome bonus
  • Other cards have longer introductory 0% APRs on purchases
  • If the rotating categories don’t match your spending habits, you could earn more cash back with other cards
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  • Intro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • New! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Redeem cash back any amount, any time. Rewards never expire.
  • No annual fee.
  • Click "Apply Now" to see terms and conditions.

Best if you're building credit: Chase Slate Edge℠

4/5
A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star
Editor's Rating
Annual Fee
$0
Regular APR
15.74% - 24.49% Variable
Recommended Credit Score
Good to Excellent
Pros & Cons Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
Pros
  • 0% introductory APR on purchases and balance transfers for the first 18 months
  • No annual fee
  • Potential for automatic consideration for credit limit increases and purchase APR reductions
Cons
  • Card doesn’t earn rewards beyond the welcome bonus
  • Other cards have longer 0% APR offers
  • Consideration for purchase APR reduction and credit line increase requires meeting a minimum spending requirement and on-time payments
Details Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
More Information
  • Start off strong with 0% Intro APR for 18 months from account opening on purchases and balance transfers. A variable APR of 15.74% - 24.49% on balance transfers and purchases after the introductory period ends.
  • 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.
  • All for no annual fee - You won't have to pay an annual fee for all the great features that come with your Slate Edge℠ card
  • Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more

Compare the best credit cards for balance transfers

Wells Fargo Reflect℠ Card (jump to Wells Fargo Reflect card details »)

The Wells Fargo Reflect℠ Card tops our list for its extra-long intro APR offer on both balance transfers and purchases. New cardholders receive a 0% intro APR for up to 21 months on purchases and qualifying balance transfers from account opening (then 14.49% - 26.49% Variable). Balance transfers must occur within 120 days of account opening to qualify for the intro 0% APR rate. 

Although the Wells Fargo Reflect℠ Card doesn't earn rewards for spending, cardholders do get a handful of good benefits, including cell phone protection and roadside dispatch. The cell phone protection is particularly compelling because no-annual-fee cards typically don't offer it. When you use the Wells Fargo Reflect℠ Card to pay your wireless bill, you'll receive coverage for cell phone damage or theft, up to $600 (with a $25 deductible) with a maximum of two claims per 12-month period.

Pros: Ultra-long 0% introductory APR on balance transfers and purchases, no annual fee

Cons: No welcome bonus offer or rewards, and few benefits aside from cell phone protection

Read more about the Wells Fargo Reflect:

Citi Simplicity® Card (jump to Citi Simplicity card details »)

Consumers with a lot of high-interest credit card debt could save more with a card that offers a 0% intro APR for as long as possible. The Citi Simplicity® Card extends one of the best offers in this category.

There's no annual fee, yet you get a 0% intro APR on purchases for 12 months and on balance transfers for 21 months (transfers must be completed in the first four months). After that, your rate goes up to a 16.24% - 26.24% Variable APR based on your creditworthiness. Having a full 21 months with a 0% intro APR on balance transfers could help you pay down a ton of debt, but keep in mind you'll pay a 5% balance transfer fee (minimum of $5) for the privilege, and you need to make all transfers in the first four months.

Other perks this card offers include automatic account alerts, 24/7 customer service, and the ability to choose your payment due date. 

Pros: No annual fee, score 0% intro APR on purchases for 12 months and on balance transfers for 21 months (then a 16.24% - 26.24% Variable APR applies), no late fees

Cons: 5% balance transfer fee (minimum $5), few cardholder perks

Read more about the Citi Simplicity card:

Citi® Diamond Preferred® Card (jump to Citi Diamond Preferred card details »)

The Citi Diamond Preferred card offers a 0% intro APR on balance transfers for 21 months and on purchases for 12 months from account opening (then a 15.24% - 25.24% Variable APR applies).

The biggest difference between the Citi Simplicity® Card and Citi Diamond Preferred card is that the Citi Simplicity® Card doesn't charge late fees or a penalty APR, while a late fee of up to $40 and a penalty APR of up to 29.99% applies if you pay late with the Citi Diamond Preferred card.

Pros: No annual fee, 0% intro APR on balance transfers for 21 months and on purchases for 12 months from account opening (then 15.24% - 25.24% Variable applies), purchase protection

Cons: 5% balance transfer fee (minimum $5), doesn't waive late fees

Read more about the Citi Diamond Preferred:

Blue Cash Everyday® Card from American Express (jump to Amex Blue Cash Everyday card details »)

Until recently, Amex didn't offer any cards with a 0% intro APR on balance transfers. That's now changed with the refresh of the no-annual-fee Blue Cash Everyday® Card from American Express, which improved the card's bonus categories and added new monthly statement credits toward Home Chef and The Disney Bundle.

New cardholders receive a 0% intro APR on purchases and balance transfers for 15 months from account opening, followed by a 15.49% - 26.49% Variable APR. To qualify for the introductory rate, balance transfers must be completed within the first 60 days of account opening, and there's a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.

This card has a welcome bonus offer of a $200 statement credit after you spend $2,000 in purchases on your new card within the first 6 months. You'll earn 3% cash back at US supermarkets (up to $6,000 per year, then 1%), 3% cash back on US gas stations (up to $6,000 per year, then 1%), 3% cash back on US online retail purchases (up to $6,000 per year, then 1%), and 1% cash back on all purchases (cash back is received in the form of Reward Dollars). 

Pros: Intro 0% APR on balance transfers and purchases, no annual fee, great earning rates in useful categories

Cons: Balance transfer fee, foreign transaction fees

Chase Freedom Unlimited® (jump to Chase Freedom Unlimited card details »)

The Chase Freedom Unlimited® is a great pick if you're looking for an intro APR on balance transfer and purchases with the opportunity to earn generous rewards for your day-to-day spending. New cardholders receive a 0% intro APR on purchases and balance transfers for the first 15 months (then a 16.49% - 25.24% Variable APR).

The intro balance transfer fee is 3% of the amount of each transfer (or $5, whichever is greater) on transfers made within 60 days of account opening. After that, the fee jumps to 5% of the amount of each transfer (or $5, whichever is greater). This card has no annual fee, but you will pay foreign transaction fees on international purchases.

While the Chase Freedom Unlimited® is marketed as a cash-back credit card, it actually earns Chase Ultimate Rewards points, which you can redeem for cash back, travel booked through the Chase Portal, gift cards, merchandise, and more.

The card starts you out with a welcome bonus offer of 1.5% cash back in addition to regular earning on everything you buy up to $20,000 spent in the first year (worth up to $300 cash back). You'll earn 5% back (5x points) on travel booked through Chase, 5% back (5x points) on Lyft rides through March 2025, 3% back (3x points) on dining (including takeout) and drugstores, and 1.5% back (1x points) on all other eligible purchases.

If you also have an annual-fee Chase card that earns Ultimate Rewards points, such as the Chase Sapphire Preferred or the Chase Sapphire Reserve, you can combine your rewards and unlock more redemption options, including transferring points to Chase's airline and hotel partners.

Pros: Intro APR on balance transfers and purchases, strong earning on all spending, earns valuable Chase Ultimate Rewards points

Cons: 3% intro balance transfer fee (then 5% or $5, whichever is greater, if transfers are made more than 60 days after account opening), foreign transaction fees

Read more about the Chase Freedom Unlimited:

Chase Freedom Flex℠ (jump to Chase Freedom Flex card details »)

New Chase Freedom Flex℠ cardholders receive a 0% intro APR on purchases and balance transfers for the first 15 months (then a 15.74% - 24.49% Variable APR). There's an introductory balance transfer fee of 3% of the amount of each transfer (or $5, whichever is greater) for transfers made within 60 days of account opening (then a fee of 5% of the amount of each transfer or $5, whichever is greater).

There's a welcome bonus offer of $200 after spending $500 on purchases in the first three months from account opening, plus cardholders can earn 5% (or 5x) in rotating categories each quarter (once activated) on up to $1,500 spent in combined spending. You'll also earn 5% cash back (5x points) on travel purchases made through Chase, 5% back (5x points) on Lyft rides through March 2025, 3% back (3x points) on dining and drugstores, and 1% back (1x points) on everything else.

It's possible to combine your rewards from the Chase Freedom Flex℠ with eligible annual-fee Chase cards to get more value from your points.

Pros: Earn up to 5x points on spending, no annual fee, earn valuable Chase Ultimate Rewards points

Cons: 3% intro balance transfer fee (then 5% or $5, whichever is greater, if transfers are made more than 60 days after account opening), foreign transaction fees

Read more about the Chase Freedom Flex:

Citi® Double Cash Card (jump to Citi Double Cash card details »)

With the Citi® Double Cash Card, you get a 0% intro APR on balance transfers for 18 months from your date of first transfer when transfers are completed within four months from the date of account opening, then there's a rate of 15.49% - 25.49% Variable. That's a substantial amount of time to pay off your debt.

But what makes the Citi Double Cash Card a great pick is that it's one of the best cash-back credit cards in general, so it's worth using even after you've paid off your balance. You'll effectively earn 2% cash back on everything — 1 point per dollar when you make a purchase, and 1 point per dollar when you pay it off.

You won't earn cash back on balance transfers, but it's a great card for earning money back on your everyday expenses. And you can redeem your Citi ThankYou points at a rate of 1 cent each for cash back, travel, gift cards, and more.

The intro balance transfer fee is 3% of each transfer completed within the first 4 months of account opening, with a minimum $5. The ongoing balance transfer fee is 5% of each balance transfer, with a minimum charge of $5.

Pros: Strong cash-back rate, no annual fee, long intro APR period

Cons: 5% balance transfer fee, 3% foreign transaction fee

Read more about the Citi Double Cash:

Citi Custom Cash℠ Card (jump to Citi Custom Cash card details »)

The  Citi Custom Cash℠ Card is a great choice if your spending habits tend to change from month to month. Cardholders earn 5% cash back on up to $500 in purchases in the eligible category they spend the most in each billing cycle (then 1%), and 1% on all other purchases.

The qualifying categories include everyday expenses that should appeal to most folks: restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, and live entertainment.

New cardholders receive an introductory 0% Intro APR on balance transfers and purchases for 15 months, then a 15.49% - 25.49% Variable APR. There's a 5% balance transfer fee (minimum $5) and $0 annual fee.

Although it's marketed as a cash-back card, the Citi Custom Cash℠ Card actually earns rewards in the form of Citi ThankYou points, which are worth 1 cent apiece for cash back, travel booked through Citi, gift cards, merchandise, and more. And if you have the Citi Premier® Card or Citi Prestige® Card (no longer available to new applicants), you can pool your rewards and transfer points to airline and hotel partners

Pros: 0% intro APR on both balance transfers and purchases, no annual fee, strong rewards earning

Cons: 5% balance transfer fee, foreign transaction fees

Read more about the Citi Custom Cash:

Capital One SavorOne Cash Rewards Credit Card (jump to Capital One SavorOne card details »)

The Capital One SavorOne Cash Rewards Credit Card is a great no-annual-fee option if you spend a lot on food and entertainment. There's a solid welcome offer: Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening. Cardholders earn 5% cash back on hotels and rental cars booked through Capital One Travel, 3% cash back on entertainment, streaming services, dining, and groceries, and 1% back on everything else.

New cardholders also qualify for a 0% intro APR on purchases and balance transfers for 15 months of account opening (then a 16.49% - 26.49% (Variable) APR). 

This card recently added 5% cash back on hotels and car rentals booked through Capital One Travel and 8% cash back on Capital One Entertainment purchases. There's also a promotion to earn 8% cash back on Vivid Seats purchases through January 2023.

Pros: 0% intro APR on both balance transfers and purchases, no annual fee, strong rewards earning, no foreign transaction fees

Cons: 3% balance transfer fee

Read more about the Capital One SavorOne:

U.S. Bank Visa® Platinum Card (jump to U.S. Bank Visa Platinum card details »)

The U.S. Bank Visa® Platinum Card is unique in the fact that it offers a 0% intro APR on more than just balance transfers. Once you sign up, you'll get the introductory rate of 0% intro APR on purchases and balance transfers for 20 billing cycles (followed by a 15.99% - 25.99% (Variable) variable APR).

Getting a 0% intro APR on balance transfers and purchases makes this card a solid option for anyone who has debt to transfer or a big purchase to make. If you wanted to buy new appliances or use credit to cover a minor kitchen remodel, for example, you could do so and repay your balance at 0% intro APR for 20 billing cycles.

Other benefits you'll get with this card include cell phone protection, a free TransUnion credit score each month, and the ability to choose your payment due date. This card also comes with no annual fee, although there is a balance transfer fee of 3% or $5.

Pros: 0% intro APR good for both balance transfers and purchases, no annual fee, cell phone protection

Cons: 3% balance transfer fee

Read more about the US Bank Visa Platinum:

Discover it® Balance Transfer (jump to Discover it® Balance Transfer details »)

Consumers who are carrying high-interest balances on other credit cards and considering a balance transfer should look at the Discover it® Balance Transfer. It offers a 0% intro APR on balance transfers for 18 months and on purchases for 6 months (then a 13.49% - 24.49% Variable APR), with an intro balance transfer fee of 3%, increasing up to 5% for future transfers (see rates). 

Not only does the Discover it® Balance Transfer offer 5% cash back in categories that rotate each quarter up to the first $1,500 on purchases, then 1% (enrollment required), but Discover will also match all the rewards you earn after the first year (from July 1 to September 30, 2022, you can earn 5% cash back at restaurants and PayPal on up to $1,500 in purchases after enrollment, then 1%). There's no annual fee, and you qualify for free Social Security Number alerts, no foreign transaction fees, and no late fees on your first late payment.

Pros: 0% intro APR good for both balance transfers and purchases, Cashback Match in the first year

Cons: Only earns 1% back outside of bonus categories, 3% intro balance transfer fee and up to 5% fee on future balance transfers (see terms)

Read more about the Discover it Balance Transfer card:

Chase Slate Edge℠ (jump to Chase Slate Edge card details »)

The Chase Slate Edge℠ comes with a 0% Intro APR for 18 months from account opening on purchases and balance transfers, but beyond that, it doesn't earn rewards. It's geared toward those who are taking steps to improve their financial situation, and offers features that can help you increase your credit score and reduce the amount of interest you pay.

It offers a 0% Intro APR for 18 months from account opening on purchases and balance transfers, then a 15.74% - 24.49% Variable APR. Cardholders receive an automatic, one-time review for a higher credit limit if they've paid on time and spent at least $500 in the first six months of opening the Chase Slate Edge℠. 

Each account anniversary, you'll be considered for a 2% APR reduction, as long as you've paid your card on time and spent at least $1,000 on purchases in the previous anniversary year. The reduction is capped, though — it will only be reduced until your APR reaches the Prime Rate plus 9.74% (currently 13.74% variable APR based on the Prime Rate of 4% as of May 10, 2022). 

Pros: Intro APR is good for both balance transfers and purchases, automatic consideration for credit line increase and APR reduction if spending requirements are met

Cons: No rewards or welcome bonus offer

How we chose the best balance transfer credit cards

Insider selected the best balance transfer cards by looking at all the credit cards with balance transfer offers that are currently available to new applicants. 

From there, we narrowed our list down to balance transfer cards offering 0% introductory offers. We arrived at our final picks by evaluating the terms of each introductory APR offer and other card benefits. We prioritized cards that charge lower balance transfer fees as well as cards with the longest introductory 0% APR periods on balance transfers. We also factored in other card benefits, such as cash back or travel rewards, annual fees, and waived late fees.

Frequently asked questions (FAQs) about balance transfer credit cards

What is a balance transfer card?

Balance transfer cards let those with existing credit card debt move their outstanding balance over from another card to avoid interest fees. You're able to avoid interest on a balance transfer card thanks to an intro 0% APR offer, which lasts anywhere from nine to 21 months.

After this introductory period is over, your APR will reset to the standard variable rate. So you need to pay off your credit card debt in full before the intro APR period ends in order to avoid interest charges.

What's the catch? Some balance transfer cards charge an upfront balance transfer fee of 3% or 5% of your balance — or $300 to $500 for every $10,000 in high-interest debt you transfer. If you don't need to transfer a balance but you need to make a large purchase that you'll need time to pay off, see our list of the best credit cards with intro APR offers.

How do balance transfer cards work?

Balance transfer cards can save you money by securing you a lower interest rate on your existing credit card debt. When you apply and are approved for a balance transfer credit card, you move over debt from another card, and you generally have an introductory 0% APR period before you have to start paying interest on that debt.

Ideally, you'll pay off your debt before the introductory period ends — otherwise, you'll have to pay interest on your remaining balance.

Is a balance transfer card right for me?

A balance transfer could be right for you if you currently have credit card debt, and you have a plan to pay it off. By using a balance transfer credit card, you'll get a bit of breathing room with the introductory 0% APR period. This allows you to pay off your debt without adding interest.

The average credit card APR is around 16%, and it could be even higher depending on your credit score and the card you're using. The last thing you want is to find yourself in the quicksand of credit card interest.

Before you decide to use a 0% intro APR credit card, be sure you have the means and a plan to pay off your balance in full before the introductory APR period ends — otherwise, you'll end up having to pay interest on your remaining balance.

If you don't think you'll be able to pay off your debt in full by the time the introductory APR offer expires, a balance transfer credit card may not be worth it. 

How do I perform a balance transfer?

The first step in completing a balance transfer is applying for — and getting approved for — a balance transfer credit card. Once you have a card with an introductory APR offer on balance transfers, to transfer your credit card balance, you'll need to request the transfer with the bank that issues your new balance transfer credit card.

You can generally initiate this process either online or by calling the number on the back of your card.

How long does a balance transfer take?

A balance transfer generally takes five to seven days, but the actual time can vary by issuer. Your bank may ask you to allow for up to 21 days for a balance transfer to go through, but usually, the transfer should be completed sooner. Experian has a handy chart listing the average balance transfer timeframes by bank.

What credit score do I need for a balance transfer card?

If you have bad credit — which is defined as a credit score below 669 — you probably won't be approved for a balance transfer card.

A bank may be less inclined to approve you for a balance transfer card if your credit score and credit report indicate that you haven't been able to consistently pay off debts in the past. 

Freelance Writer
Holly Johnson is a credit card expert, award-winning writer, and mother of two who is obsessed with frugality, budgeting, and travel. In addition to serving as contributing editor for The Simple Dollar and writing for publications such as Bankrate, U.S. News and World Report Travel, and Travel Pulse, Johnson owns Club Thrifty and is the co-author of "Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love."
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Jasmin Baron is an editor at Insider, responsible for credit card coverage on Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Before joining the Insider team, she was a senior editor at The Points Guy and Million Mile Secrets, covering credit cards, points and miles, and loyalty programs. Her expertise in maximizing travel rewards grew from over two decades of experience in the aviation industry, including 18 years working as a pilot and flight instructor in her native Canada.You can reach Jasmin at [email protected]. Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »
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