Best balance transfer credit cards 2024

You can avoid hundreds (even thousands) of dollars in interest with a balance transfer credit card. Opening a credit card with 0% intro APR on balance transfers can help you to pay off high-interest debt exponentially faster.

While you won’t accrue interest with a 0% intro APR offer, you’ll still be responsible for the minimum monthly payment, and you will likely be required to pay a fee between 3% and 5% of the transferred balance.

Our top recommendations

• card_name: Best for flat-rate cash back.
• card_name: Best for a lengthy 0% intro APR window.
• card_name: Best for everyday purchases.
• card_name: Best for choosing your own bonus category.
• card_name: Best for online shopping.
• U.S. Bank Visa® Platinum Card: Best for 0% intro APR on purchases.
• Chase Freedom Flex℠: Best for rotating bonus categories.
• PenFed Gold Card: Best for low regular APR.
• card_name: Best for beginners.
• card_name: Best for waived late fees.

card_name: Best for flat-rate cash back

Citi Double Cash® Card

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Citi Double Cash® Card

Credit score

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Annual fees

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(Rates & Fees)

Balance transfer intro APR

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With the card_name you can bonus_miles_full. You’ll also earn Citi ThankYou points, which can be redeemed for cash at a rate of 1 cent each. An abnormally generous intro APR for balance transfers and a simple rewards structure make this card one of the best. However, you won’t receive an intro APR for purchases.

The card_name is one of the highest-earning flat rate cash back cards available. It earns 1% cash back when you make a purchase and another 1% cash back when you pay off that purchase (effectively 2% everywhere). That saves you the hassle of keeping track of bonus categories, and it guarantees you a respectable return for all spending.

card_name: Best for a lengthy 0% intro APR window

Citi® Diamond Preferred® Card

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Citi® Diamond Preferred® Card

Credit score

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Annual fees

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(Rates & Fees)

Balance transfer intro APR

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Rarely is there a balance transfer credit card that offers an interest-free window that lasts 21 months. The card_name is one of the few, making it among the absolute best credit cards for escaping high-interest debt. It’s got virtually no other features, but a 21-month period where every penny you throw toward your debt goes toward the principal is more than enough reason to open the card.

This card does not currently offer a welcome bonus, and it does not earn rewards. So even though you’ll get an extensive bonus_miles_full and no annual fee, you won’t earn any rewards for your spending.

card_name: Best for everyday purchases

Chase Freedom Unlimited®

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Chase Freedom Unlimited®

Credit score

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Annual fees

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Balance transfer intro APR

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Why we like it

The no annual fee card_name earns between 1.5% and 5% cash back on all purchases, making it a perfect option for those that don’t want to juggle multiple rewards credit cards. It also offers a generous 0% intro APR window on purchases and balance transfers.

A high return rate on everyday purchases is great, but this card ups the ante in a big way: You can turn the cash back you earn into airline miles and hotel points for nearly free travel — skyrocketing the potential value of your rewards. You’ll need to hold an annual fee-incurring Chase Ultimate Rewards card, like the Chase Sapphire Preferred® Card, to do it; but it’s a nice redemption option to have if travel is a goal of yours.

The card_name offers you a way to bonus_miles_full. You’ll earn Chase Ultimate Rewards® points, which can be redeemed for cash at a rate of 1 cent each. With its myriad bonus categories, the card is a points-earning powerhouse; however, to unlock the full potential of its rewards, you’ll need an annual fee-incurring Ultimate Rewards card such as the card_name.

For no annual fee, the card_name brings a confusingly high return rate for everyday spending. You’ll earn 5% back on travel reserved through the Chase Travel Portal and Lyft rides through March 2025, 3% back on dining and at drugstores and 1.5% back on everything else. To boot, you’ll receive 5% back at gas stations and grocery stores (excluding Walmart and Target) for up to $12,000 in spending during your first year. These categories capture the vast majority of common monthly expenses, so it’s a great option for most situations. also you can bonus_miles_full

card_name: Best for choosing your own bonus category

Citi Custom Cash℠ Card

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Citi Custom Cash℠ Card

Credit score

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Annual fees

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(Rates & Fees)

Balance transfer intro APR

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The card_name offers the ability to bonus_miles_full. Earning the maximum cash back is effortless, as your most used spending category will automatically receive a 5% bonus. However, bonus categories are capped at $500 in spending per month.

The ability to earn up to 5% cash back is extremely rare. Not only does the card_name deliver this incredible return rate, but it also works hard to make sure that you get the most cash back possible. It tracks your monthly spending and awards a 5% bonus to whichever eligible category you use the most each billing cycle (for up to $500 spending each month, then 1%). Eligible categories include gas stations, grocery stores, restaurants, drugstores, select streaming services and many more.

card_name: Best for online shopping

Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express

Credit score

credit_score_needed

Annual fees

annual_fees

(Rates & Fees)

Balance transfer intro APR

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The card_name offers the ability to bonus_miles_full. An all-around solid cash back credit card, you’ll earn 3% at U.S. supermarkets, U.S. gas stations and for U.S. online retail purchases. But each bonus category is capped annually at $6,000 in spending, after which you’ll earn just 1%.

The card_name earns 3% for U.S. online retail purchases (for up to $6,000 in spending, then 1%). Interestingly, the card has an extremely liberal definition of what constitutes an online retail purchase: Any purchase “made on a website or a digital application (an app) from a U.S. retail merchant that sells physical goods or merchandise directly to consumers” will receive this bonus. That means Walmart.com, Amazon and many others. Just note that expenses like your phone bill or streaming subscriptions won’t qualify.

U.S. Bank Visa® Platinum Card: Best for 0% intro APR on purchases

U.S. Bank Visa Platinum Card

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U.S. Bank Visa Platinum Card

Credit score

0% intro APR for 21 months on balance transfers

Annual fees

$0

Balance transfer intro APR

0% intro APR for 18 months on balance transfers

You’re in the market for a card that waives interest on balance transfers. But what about purchases? The U.S. Bank Visa® Platinum Card provides an exceptional 0% intro APR for 18 months on balance transfers and purchases. This is a great feature for someone who is expecting a large expense and knows they’ll have trouble paying it off in a timely manner.

You’ll also receive helpful perks like cell phone insurance when paying your monthly phone bill with your card. You unfortunately will not earn rewards for your purchases.

Chase Freedom Flex℠: Best for rotating bonus categories

Chase Freedom Flex℠

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Chase Freedom Flex℠

Credit score

670

Annual fees

$0

Balance transfer intro APR

0% intro APR for 15 months on balance transfers

Why we like it

The Chase Freedom Flex℠ offers a $200 bonus after you spend $500 on purchases within the first three months from account opening, plus 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year. You’ll earn Chase Ultimate Rewards points, which can be redeemed for cash back at a rate of 1 cent each, and the card offers up to 5% back in practical spending categories. Also notable is the free cell phone insurance you’ll get when paying your phone bill with the card.

The Chase Freedom Flex℠ offers a $200 bonus after you spend $500 on purchases within the first three months from account opening, plus 5% cash back on combined gas station and grocery store purchases (excluding Target and Walmart) on up to $12,000 spent in the first year. You’ll earn Chase Ultimate Rewards points, which can be redeemed for cash back at a rate of 1 cent each, and the card offers up to 5% back in practical spending categories. Also notable is the free cell phone insurance you’ll get when paying your phone bill with the card. The main drawback is that its quarterly earning caps with its 5% bonus categories.

In addition to a fistful of high-performance bonus categories, the Chase Freedom Flex℠ has a superpower that you won’t find on many other cards — it provides a 5% return on rotating bonus categories (for up to $1,500 in total combined purchases each quarter, then 1%) after you activate. Current 5% bonus categories include grocery stores (excluding Walmart and Target), fitness clubs and gym memberships and self-care spa services.

PenFed Gold Card: Best for low regular APR

PenFed Gold Card

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PenFed Gold Card

Credit score

670

Annual fees

$0

Balance transfer intro APR

0% intro APR for 15 months on balance transfers (then 17.99% Variable)

A 0% intro APR for balance transfers is great, but what about after that promotional APR expires? The PenFed Gold Card offers a regular variable APR of 17.99%. That’s incredibly low, as most other cards on this list have interest rates flirting with 30%. You should never carry a balance month-to-month on your credit card, but if you absolutely must, this is a good card to use.

The card doesn’t earn rewards, and you’ve got to be a PenFed member to open the card (though it’s easy to join).

card_name: Best for beginners

Chase Slate Edge®

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Chase Slate Edge®

Credit score

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Annual fees

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Balance transfer intro APR

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Why we like it

The card_name is a very basic card that helps you cultivate a healthy credit profile by rewarding you for using your card responsibly. Each cardmember year in which you spend at least $1,000 on the card, you’ll be considered for a 2% APR reduction (down to the card’s Prime Rate plus 9.74%). You’ll also be considered for a credit limit increase after you spend $500 within the first six months of account opening.

The card_name is a very basic card that helps you cultivate a healthy credit profile by rewarding you for using your card responsibly. Each cardmember year in which you spend at least $1,000 on the card, you’ll be considered for a 2% APR reduction (down to the card’s Prime Rate plus 9.74%). You’ll also be considered for a credit limit increase after you spend $500 within the first six months of account opening.

This card has incentives for using your credit responsibly, such as decreased APR, credit limit increases and credit health monitoring tools. But you won’t earn rewards for your purchases.

card_name: Best for waived late fees

Citi Simplicity® Card

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Citi Simplicity® Card

Credit score

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Annual fees

annual_fees

Balance transfer intro APR

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The card_name is strikingly similar to the card_name. It offers the same great intro APR offer, but its regular APR is higher. Its upside is that it waives late fees and doesn’t enforce penalty rates, which can ultimately save you more money if you find yourself with a late or returned payment.

This card does not currently offer a welcome bonus, and it doesn’t earn rewards. You do receive a lengthy 0% intro APR offer with no late fees or penalty rates, but you won’t earn rewards for your spending.

Best balance transfer credit cards 2024: Comparison

How we chose the best balance transfer credit cards

We compared card offers based on the following criteria: Balance transfer amounts, introductory APR offers, rewards rates (when applicable), welcome offers (when applicable), rewards flexibility, variable APRs, annual fees, included consumer protections included, travel benefits and perks, travel insurance benefits and required credit rating.

Ultimately, we looked for credit cards that offer the most best intro APR offers, as well as flexibility within their designated rewards programs. Some cards that don't offer rewards were evaluated based on other factors, including their fee structure and regular variable APR. In all cases benefits such as consumer protections and travel insurance perks were taken into account.

Choosing the best credit card: Where to begin

While all of the above credit cards are excellent balance transfer options, there’s one card that suits you better than the rest. Take the following into consideration while you deliberate.

Eligibility

Of utmost importance when choosing a credit card, you should ensure you’re not applying for a card that requires a credit score that you don’t have. Some of the above cards require fair credit (defined by FICO as 580 to 669), while some require good credit (670 or above). Knowing your credit score before you apply could help you quickly narrow your options.

Intro APR offer

Lots of credit cards offer the ability to transfer a balance, but many don’t provide promotional APR. Search for a card offering an interest-free period that helps you to pay off your debt quickly. The amount of money you can save when not wasting it on interest payments can be astonishing.

Rewards

The primary motivation for transferring a balance is to escape high-interest debt. Earning rewards is just icing on top of the cake. Decide on an interest-free period that you can live with, then, all other things being equal, choose the credit card that offers the biggest return for your spending.

Regular APR

If a card’s 0% intro APR offer won’t provide a window large enough for you to eliminate your debt, you’ll want a credit card that charges a low APR after that interest-free window closes. Credit card interest rates can vary by more than 10%, so choosing a card with low APR could translate to thousands of dollars in savings, depending on the size of your balance.

Ongoing benefits

Balance transfer credit cards with the longest 0% intro APR terms often have one glaring Achilles heel: They offer very few additional perks. Once the interest-free window closes, the card’s value becomes negligible.

In many cases, the shorter the intro APR period, the better the card’s other benefits will be. Don’t apply for an interest-free period that’s longer than you need; you’ll likely lose out on perks that’ll make the card a keeper after that intro period ends.

Frequently asked questions (FAQs)

Do balance transfers hurt my credit score?

Transferring a balance generally will not hurt your credit. It may result in a high credit utilization on the card that’s absorbing your balances, but your overall credit utilization will stay the same (and even decrease if you’ve opened a new card specifically for a balance transfer).

Is a balance transfer good?

Balance transfers are good for shielding yourself from interest charges. Find a card that confers 0% intro APR, and you could save many hundreds of dollars in fees.

Is there a downside to a balance transfer?

The downside of a balance transfer is that you’ll typically pay a fee between 3% and 5% of the balance you’re transferring. That can be a large chunk of change, depending on the size of your debt, but it can be well worth it to save on interest.

Can you do a balance transfer with the same bank?

A bank often doesn’t allow you to transfer a balance between its cards. Your best bet is to open a balance transfer credit card from another bank to move your current debts.

Can you do a partial balance transfer?

You can transfer as much or as little of your debt as you want. The one restriction is that you can’t transfer more than the balance transfer credit card can hold. In other words, if your credit limit is $5,000, you won’t be able to transfer more than that.

What happens to my old credit card after a balance transfer?

You can continue to use your old credit card as normal. Just ensure your increased available credit doesn’t tempt you into more debt.

For rates and fees of the card_name, please visit URL.