Best Balance Transfer Credit Cards
Do you have high-interest credit card debt you’re struggling to pay off?
You’re not alone. In 2017, over 38% of U.S. households will have some sort of credit card debt. If you’re suffering from high interest rate charges, transfer your debt to one of these balance transfer cards with 0% intro APR and start saving money.
BankAmericard® Credit Card
Benefits: Swimming in high-interest debt? This card is one of the most cost-effective lifelines of any offer currently available. Most cards charge a fee to transfer your debt. Not here. This card comes with a $0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% (min. $10). As if that's not enough, you also pay no annual fee and get a long 0% Intro APR for 15 billing cycles for balance transfers made in the first 60 days and 0% Introductory APR on purchases for 15 billing cycles. That gives you over a year to wipe out your debt without paying interest. Drawbacks: There are balance transfer offers with longer introductory APR, but you will likely pay a balance transfer fee. For example, if you need a longer intro period to pay down your balance consider the balance transfer offers from Citibank. But, you may have to pay a balance transfer fee with those cards. The Bottom Line: This card leads the pack in a crowded balance transfer field. It is one of the few cards that delivers three impressive debt-busting features: no intro balance transfer fee, a long 0% Intro APR for 15 billing cycles for balance transfers made in the first 60 days, and no annual fee. If you are serious about getting out of debt, this card can help you achieve your goals.
Citi® Double Cash Card – 18 month BT offer
Benefits: This credit card also has a 0% intro APR on balance transfers for 18 months, no annual fee and only requires good credit. That’s not even the best part. This card earns you 1% cashback on everything with no limit, and another 1% when you pay off your bills at the end of the month! Unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases makes this card one of the best credit cards for balance transfers and cash back rewards. It’s great for transferring high-interest debt, and getting cash back for any purchases without having to worry about rotating categories. You can save over $800 in interest charges if you transfer $5,000 in interest accruing charges at a 20% APR. On top of that, if you spend $500 each month on common purchases you can earn $5 on purchase and another $5 when you pay it off. That’s $120 in annual rewards! Drawbacks: The card charges a balance transfer fee of 3% of the amount transferred or $5, whichever is higher. It does not reward cash back on balance transfers. There is also a $25 minimum for redeeming cash back rewards. The Bottom Line: The Citi Double Cash card is an industry leader for cash back rewards with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. When you add in the 0% intro APR on balance transfers for 18 months you’re looking at a very powerful card that you can use to save money on high-interest debt, then use as a cash rewards card afterwards. All of this make this card one of our most popular offers.
Discover it® - 18 Month Balance Transfer Offer
Benefits: This card has a sign-up bonus loaded with potential: you can turn $200 into $400 with Cashback Match. If you’re a new card member, you can automatically double your rewards within the first year of having the card. You also earn 5% cash back from rotating categories like gas stations, department stores, Amazon.com or restaurants for up to $1,500 every quarter. You’ll also get 1% cash back on everything else. With 5% cash back from everyday spending categories and 1% cash back on everything else you can easily earn $200 cash back and turn it into $400 with Discover’s Cashback Match. There is also no annual fee, and you will get 0% intro APR on purchases for 6 months and 0% intro APR on balance transfers for 18 months. Drawbacks: While the Discover It - 18 month balance transfer offer has some rewarding cash back benefits, it does come with a balance transfer fee of 3%. You also need to remember to opt into the categories every quarter or you will not receive the 5% cash back rewards. The Bottom Line: If you looking for a balance transfer credit card that teams up with a cash back rewards system, this card is right up your alley. It has a unique sign-up bonus system that doubles your cash back at the end of your first year. So if you’re in the market for a rewards card and would like to transfer your current balance, this card is perfect for you.
Blue Cash Everyday® Card from American Express
Benefits: If you spend on groceries and gas, this card offers you a smart way to tackle your high-interest debt, while scoring exceptionally high cash-back rewards. Take advantage of intro APR of 0% for 15 months on purchases and 0% for 15 months on balance transfers with this $0 annual fee card. You'll get well over a year to chip away at your high-interest debt when you transfer your balance to this card, while earning serious cash-back along the way. You can pocket 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases. Plus, you will take home a $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Plow your sign-up bonus and cash-back earned back onto your balance, and this card can help you pay down your debt faster.
Drawbacks: There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater. But, but with the sign-up bonus and cash-back you can still come out ahead.
The Bottom Line: This is an outstanding choice if you are looking to hit the brakes on high-interest debt, while earning a big rewards rate on your grocery and gas spending. It's hassle-free, high earning card with, no rotating bonus categories. The $0 annual fee means you won't pay more to tackle your high-interest debt.
HSBC Gold Mastercard® credit card
Benefits: Looking for instant relief from high monthly interest charges? The HSBC Gold Mastercard® credit card offers a lengthy 0% for 18 months intro APR on balance transfers, which could save you hundreds of dollars if you’re currently paying a high interest rate on another card. There is a either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check. But, the money you save on interest can easily cover the cost of that fee. Rely on this card for unexpected expenses that pop up with a generous purchase intro rate 0% for 18 months. You’ll watch your savings pile up fast with this card that comes with no penalty APR, a late fee waiver, no foreign transaction fees and $0 annual fee.
Drawbacks: This card was designed to help people get out of debt. There are no other rewards on this card aside from one of the longest 0% intro APR periods available. Also, the balance transfer fee is slightly higher than some other offers.
Bottom Line: If your focus is getting out of debt, the HSBC Gold Mastercard® credit card can help you get to your destination. You can save a significant amount of money with the slew of generous features on this card. The ultra-long 0% intro APR is one of the longest terms available.
Apply now for one of these top balance transfer cards and say goodbye to high interest credit card debt.