Credit Cards

Best Balance Transfer Credit Cards

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Best Balance Transfer Credit Cards

If you’re carrying a balance on your credit card and not able to pay it off in the short-term, you may want to consider transferring the balance to a new card. Some credit cards offer 0% interest on balance transfers for an introductory period of time.

That means, instead of paying a hefty interest rate with your current credit card, you can pay no interest of 12-18 months, depending on the terms of the card. Ultimately, you may wind up saving a lot of money.

The best balance transfer credit cards offer attractive interest rates and other benefits to provide you with additional time to clear that balance and improve your finances.

On this page, you’ll find details of several cards that are recommended for balance transfers (you can find even more options and compare all of these cards on this page).

See more of our top-ranked credit cards by category:

Best Balance Transfer Credit Cards

While these cards all offer 0% interest on balance transfers for a limited time, it’s important to note that each card will charge a fee for the balance transfer. As of right now, the fee is the same for all of these cards, 3% of the amount transferred. Due to the fee, balance transfers should only be used when absolutely necessary.

1. Citi Double Cash Card

Citi Double Cash

The Citi Double Cash Card stands out as the clear leader for balance transfers. Not only can you enjoy a 0% APR introductory rate on balance transfers for the first 18 months, but you’ll also earn 2% cashback on every purchase. It’s the top choice as an everyday cashback card because of these amazing rewards.

The Double Cash card pays 1% cashback when you purchase an item, and an additional 1% when you pay for those purchases, for a total of 2% cashback. The only caveat is that you must make the minimum balance due payment on time each month to qualify for your cashback. However, credit card payments should be made on time regardless of which card you’re using, so this shouldn’t be a turn-off.

The card also has a number of other benefits, including no annual fee and access to the Citi Price Rewind program. This innovative program searches for lower prices on the items you purchase, and if the same item is found at a lower price within 60 days, you’ll receive the price difference up to $1,200 a year. There is a limit of $300 per item, but this can be a great way to still enjoy the best prices without needing to spend days shopping around for the best deals.

A potential downside of this card is that there is a 3% foreign transaction fee. So, if you spend $1,000 overseas with your card, you’ll need to be prepared for a $30 fee. There is a $5 minimum for these fees, so it is not likely to be the best choice of card for your overseas vacation.

Highlights:

  • 0% APR introductory rate on balance transfers for 18 months
  • 2% cashback
  • No annual fee
  • 3% fee on balance transfers

Learn more about the Citi Double Cash card

2. Citi Diamond Preferred

Citi Diamond Preferred

Another card from Citi, the Diamond Preferred, also offers 18 months of no interest on balance transfers, just like the Citi Double Cash. The 0% introductory offer also applies to new purchases made during the first 18 months. Also like the double cash, there a 3% fee on the balance transferred.

However, the Diamond Preferred card can’t compare to the Double Cash in terms of rewards. There are some other perks like access to your FICO score and the option to purchase tickets to concerts, sporting events, and other experiences through Citi Entertainment, but you’ll earn no cashback or points.

Highlights:

  • 0% APR introductory rate on balance transfers for 18 months
  • No annual fee
  • 3% fee on balance transfers

Learn more about the Citi Diamond Preferred card

3. Wells Fargo Cash Wise Visa Card

Wells Fargo Cash Wise

The Cash Wise card from Wells Fargo is one of the best balance transfer credit cards offering a 0% APR introductory rate for 15 months on balance transfers and purchases. It’s not quite as good as our top two cards that offer 18 months of no interest, but the offer of 15 months is still solid. You need to make balance transfers within 120 days to qualify for this rate, and there is a 3% fee with a $5 minimum.

In addition to this great balance transfer rate, you can enjoy 1.5% cashback on all your purchases with no limit. However, what differentiates this card from others is that you can earn 1.8% cashback on digital wallet purchases that are made within the first 12 months of your account membership. Additionally, there is no annual fee, so you don’t need to try to offset a hefty renewal fee with your account rewards.

Wells Fargo also offers new cardholders a $150 bonus if you spend $500 within the first three months of membership.

One of the standout features of this card is that you can manage your rewards through the Cash Track platform. This allows you to set cash reward goals, view your rewards, redeem rewards, and even view your lifetime reward earnings.

Another impressive feature is up to $600 of cellphone protection if you pay your monthly bill with the card. This is great protection against cellphone theft or damage with just a $25 deductible.

One downside is that there is a 3% foreign transaction fee. However, this is not an issue if you don’t need to use the card internationally.

Highlights:

  • 0% APR introductory offer on balance transfers and purchases for 15 months
  • 3% balance transfer fee
  • No annual fee
  • 1.5% cashbank on all purchases
  • $150 signup bonus if you spend $500 in the first 3 months

Learn more about the Wells Fargo Cash Wise card

4. Wells Fargo Platinum

Wells Fargo Platinum

The Wells Fargo Platinum card offers an impressive 18 months of no interest on balance transfers and new purchases. While this detail matches up with the Citi Double Cash, you won’t earn any rewards for purchases made with the Wells Fargo Platinum card. That’s a huge difference from the industry-leading 2% cashback that you’ll earn with the Citi Double Cash card. Like the other cards on this list, there is a 3% fee on balance transfers.

There is no annual fee for this card. While there are no rewards and currently no signup bonus, there are a few perks. The most noteworthy perk is $600 of cellphone protection, the same as the Wells Fargo Cash Wise card.

Highlights:

  • 0% APR introductory offer on balance transfers and purchases for 18 months
  • No annual fee
  • No rewards

Learn more about the Wells Fargo Platinum

Conclusion

As you can see, carrying a balance on your credit card doesn’t mean being stuck with hefty interest payments. Our list of the best balance transfer credit cards highlights that you can enjoy 0% APR introductory periods, rewards, and other benefits. This means that you can pay down your balance without incurring interest and accumulate points and other rewards that can add up to a nice treat. For even more options, see this page of balance transfer credit cards.




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