Let’s be honest… standard credit card interest rates can be outrageous. This is why transfer offers are definitely the way to go if you carry a balance. What are the best credit cards for balance transfers? Here’s what you need to know:- How long is the offer?
Every card on the market nowadays almost always charges a transfer fee of 3 to 5%. So to get the most bang for your buck, you need to get the absolute longest 0% APR offers, which you will find below. - Which card(s) will you be transferring from?
Most issuers won’t allow you to transfer balances to another one of their credit cards. For example, you cannot transfer your balance from one Citi card to another Citi card. So remember you will need to transfer to a different issuer to take advantage of a 0% deal. - Will you want the card after your offer expires?
Of course the purpose is to save money on interest, but it doesn’t hurt to consider the benefits. If there are two balance transfer deals for the same duration, you might as well go with the one that offers the best rewards and benefits.
Note: This sponsored list is constantly updated with the best offers.
BEST OFFER: Citi Simplicity – 18 Month Offer
This is by far the #1 choice for a balance transfer card. Unlike the other guys, with the Citi Simplicity there are no late fees or penalty APRs! It is the longest 0% offer for balance transfers on the market. After the 0% ends, both purchases and transfers will have a 12.99%-21.99% variable APR based on your creditworthiness.
- 0% for a full 18 months on balance transfers
- 0% for a full 18 months on purchases
- You won’t believe this part... there are no late fees or APR hikes for missed payments
- No annual fee
Discover More – 18 Month Offer
This card has one of the best reward programs around, so you will actually want to keep it after your 0% offer! If you need to transfer your balance from another issuer like Citi, BofA, Chase, Capital One, etc. this is a great choice. Like the card above, this one also comes with a 18 month promotion for balance transfers, however the 0% offer for purchases is shorter.
- 0% for a full 18 months on balance transfers
- 0% for a full 6 months on purchases
- 5% cash back in rotating categories like gas stations, department stores and more
- No annual fee
Chase Freedom Visa – $100.00 cash back
It's rare to find a balance transfer deal that also gives you a cash bonus, but that's exactly what this 3-part promotion does. You will receive 0% on both balance transfers and purchases. But to sweeten the pot, Chase is also tossing in a special $100 bonus if you spend at least $500 within the first 3 months. This 1 offer is giving you 3 incentives at the same time.
- 0% for a full 15 months on balance transfers
- 0% for a full 15 months on purchases + $100.00 bonus for spending $500 in first 3 mo.
- 5% cash back in categories + 1% cash back on everything else
- No annual fee
Chase Slate – No Transfer Fee
Right now this is the only promotion out there that isn't charging a balance transfer fee. Keep in mind that the 0% is shorter and the card doesn't have a rewards program. However if you only have average credit, then the Chase Slate might be easier to get approved for.
- 0% for a full 15 months on balance transfers
- 0% for a full 15 months on purchases
- No fee for balance transfers (which are made during the first 30 days)
- No annual fee
Citi Diamond Preferred – 18 Month Offer
The length of this promotion is tied with the Simplicity for being the top credit card for balance transfers from Citi. It also gives a long 0% on both transfers and purchases for 18 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness. This card comes with a personal concierge service and some other bells and whistles free of charge.
- 0% for a full 18 months on balance transfers
- 0% for a full 18 months on purchases
- Benefits include concierge service and more
- No annual fee
Citi Platinum Select Visa
Last but not least, this is the other credit card that Citi is currently running a great 0% promotion for. After the 18 months are up, the variable APR will be 11.99%-21.99% and that will be based on your creditworthiness. Between all of Citi's offers, I think their other 2 mentioned above are the best credit cards to choose because of their enhanced benefits.
- 0% for a full 18 months on balance transfers
- 0% for a full 18 months on purchases
- Extra Cash from Citi: enjoy discounts on gift cards, travel, merchandise and more
- No annual fee
Citi ThankYou Card
This is a new offer from Citi which is also a fairly good card for balance transfers. In addition, you get 0% on purchases and a decent rewards program. After the 0% intro ends, you will pay a 12.99%-22.99% variable APR which is determined by you creditworthiness.
- 0% for a full 15 months on balance transfers
- 0% for a full 15 months on purchases
- Earn an unlimited 1 ThankYou point per dollar spent
- No annual fee
American Express Blue Cash Everyday
American Express stopped doing balance transfer credit cards during the "Great Recession" and even though that was a couple years ago, they still haven't brought them back yet. However they are offering a nice 0% on purchases using this promotion.
- 0% for a full 12 months on all your purchases
- Unlimited 3% cash back at grocery stores, 2% at gas stations & dept. stores, 1% elsewhere
- Free valuable benefits like purchase protection, extended warranty, and return protection
- No annual fee
How to get the most out of your balance transfer offer:
Avoid late payments: Thankfully, the credit card reform that went into effect in 2010 protects consumers against rate hikes during the first year, except under some exceptions (like making a payment 60 days late). So just make sure you always pay at least the minimum on-time. Setting up auto payments are an easy way to do this.
It’s now OK to make purchases on the card: Before the reform, payments were applied to balances with lower interest rates first (i.e. 0% balance transfer offers). Now, payments are automatically applied to the higher rate balances first (like standard APR purchases) after the minimum payment amount is paid. That means it now makes sense to use the card for spending, but if you want avoid interest, make sure to pay the total amount of new charges during each cycle. The ability to do this is beneficial if the credit card offers rewards you want to take advantage of.
