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Are you currently paying off high-interest credit card debt?
Applying for an introductory balance transfer offer can help pay down your credit card balance faster, saving you thousands of dollars in interest and reducing the cost of servicing high-interest debt.
Balance transfer cards allow you to transfer high-interest credit card debt to a credit card with an introductory 0% interest rate, easing the pressure of credit card repayments and providing 12 months or more to pay down the balance without interest charges.
What Exactly Is a Balance Transfer?
While your typical credit card charges an average APR in the range of 15-21%, a balance transfer card provides an introductory 0% offer when you transfer the balance over from another card.
Essentially, a 0% intro offer allows you to pay down credit card debt without paying the high interest commonly associated with credit cards, saving you a tidy sum of money and allowing you to pay the debt down faster.
Before jumping on a balance transfer deal, it's not the only option for paying down high-interest credit card debt. Balance transfer cards typically charge a transfer fee, and many of the best balance transfer cards don't earn rewards.
We've put together an alternative strategy that can help you get a 0% APR without paying a balance transfer fee, plus you'll earn a signup bonus and earn rewards while you pay down your balance.
The Best Balance Transfer Card Featuring 0% APR
Our Pick: Best All-Around Balance Transfer Card
If you're looking to pay down debt or finance a larger purchase, this card also comes with one of the best available introductory APR offers on balance transfers.
- 2% cash back on every purchase - 1% when you buy + 1% when you pay
- 0% intro APR on balance transfers for 18 months. After that, the (Variable) APR will be 13.99% – 23.99% based on your creditworthiness
- No annual fee
The Citi Double Cash is our pick for the best balance transfer cards. While it doesn't feature the longest intro APR period, it sits comfortably in the top echelon of balance transfer cards. Plus, it has a huge advantage over other cards in the list—the Citi Double Cash earns 2% cash back on every purchase, making it one of the best everyday rewards cards on the market.
Citi Double Cash balance transfer offer:
- An intro APR of 0% for 18 months, (then, a variable APR of 13.99% – 23.99% applies)
- Applies to balance transfers completed in first 4 months
- And you'll pay a $0 annual fee
If you also hold the Citi Premier® Card or Citi Prestige® Card, you can combine the rewards earned on your Citi Double Cash with those from your premium cards and transfer them to Citi's airline partners.
While there are plenty of great intro 0% cards to choose from, we think the Citi Double Cash provides outstanding all-around value for a balance transfer card.
Best Balance Transfer Card for Travel and Dining
- Earn 3X points on eating out and ordering in
- Earn 3X points on travel including flights, hotels, homestays and car rentals
- Earn 3X points on gas stations, rideshares and transit
- Earn 3X points on popular streaming services
- Earn 1X points on other purchases
Even without factoring in the introductory balance transfer offer, the Wells Fargo Propel Amex is one of our favorite rewards cards for travel and dining expenses.
New cardholders earn a high-value welcome bonus of 20,000 points after meeting a modest minimum spending requirement, receive a top return on spending across multiple categories, get generous intro APR periods on purchases and balance transfers, and all without paying an annual fee.
While you can't transfer Wells Fargo Go Far Rewards to any airline or hotel partners, you can redeem them directly through the Go Far Rewards portal for flights, hotels, cruises, and more, at a value of 1¢ per point. Effectively giving you a minimum 3% fixed return on your spending.
Best Balance Transfer Cards for Long Intro APR Period
The U.S. Bank Platinum Visa offers an outstanding 20 billing cycles on balance transfers, giving you almost two years to pay down the balance on your account before the intro APR period ends (then a 13.99% - 23.99% variable APR).
Similar to the U.S. Bank Platinum Visa, the Wells Fargo Platinum offers an extended intro APR period, plus you get up to $600 protection on your cell phone (subject to $25 deductible), and free access to your FICO credit score.
Top 0% Intro APR Credit Cards for Balance Transfers
| Card | Best For | 0% Period on Balance Transfers | Regular APR | Transfer Fee | Annual Fee |
|---|---|---|---|---|---|
| Citi Simplicity® Card - No Late Fees Ever | Longest intro period + no late fees | 21 months (transfers must be completed in first 4 months) | 14.74% - 24.74% (Variable) APR | 3% of each balance transfer; $5 minimum | $0 |
| U.S. Bank Visa® Platinum Card | Top Pick: Long intro period on purchases and balance transfers | 20 billing cycles on balance transfers (for transactions made within 60 days of opening account) | 13.99% - 23.99% Variable APR | 3% of the amount of each transfer or $5 minimum, whichever is greater | $0 |
| Citi® Double Cash Card | Top Pick: Long intro period + cash back rewards | 18 months (transfers must be completed in first 4 months) | 13.99% – 23.99% (Variable) APR | 3% of each balance transfer; $5 minimum. | $0 |
| Citi® Diamond Preferred® Card | Long intro period | 18 months on Balance Transfers (transfers must be completed in first 4 months) | 14.74% - 24.74% Variable APR | 3% of each balance transfer; $5 minimum | $0 |
| Wells Fargo Platinum card | Long intro period + $600 Cell Phone Protection | 18 months on qualifying balance transfers (for transactions made within 120 days of opening account) | 16.49%-24.49% Variable APR | 3% intro for 120 days, then 5% | $0 |
| Citi Rewards+® Card | Excellent welcome offer + long intro period + solid return on spending | 15 months (transfers must be completed in first 4 months) | 13.49% - 23.49% (Variable) APR | 3% of each balance transfer; $5 minimum. | $0 |
| Wells Fargo Cash Wise Visa® card | Great introductory offer + long intro period + $600 Cell Phone Protection | 15 months on qualifying balance transfers (for transactions made within 120 days of opening account) | 14.49%-24.99% Variable APR | 3% intro for 120 days, then 5% | $0 |
| Wells Fargo Propel American Express® card | Top Pick: Great introductory offer + best return on spending + $600 Cell Phone Protection | 12 months on qualifying balance transfers (for transactions made within 120 days of opening account) | 14.49%-24.99% Variable APR | 3% intro for 120 days, then 5% | $0 |
| U.S. Bank Altitude® Go Visa Signature® Card | No annual fee + intro & balance transfer APRs + high return on dining | 12 Billing cycles | 14.99% - 23.99% Variable APR | Either 3% of the amount of each transfer or $5 minimum, whichever is greater | $0 |
| Navy Federal Credit Union Platinum Card | No annual fee + no balance transfer fee | 12 months | 5.99% and 18% variable APR | $0 | $0 |
How to Chose an Intro 0% APR Credit Card
The best Intro 0% APR card is always going to be subjective, dependent on your financial situation and how fast you can pay down the debt. Cards featuring the longest 0% intro period are not inherently better than cards offering a shorter timeframe before the introductory APR ends. Each card on the list below provides a different combination of features, and you’ll want to factor all the elements into the equation before you apply for a card.
Some of the deciding factors to consider include:
- Your current card issuer – The most significant determining factor has nothing to do with APR rates, and boils down to the simple fact you can’t transfer a balance between two cards from the same card issuer. For example, Chase won’t allow you to transfer the balance from your Chase Sapphire Reserve® to a newly opened Chase card that offers an intro balance transfer, so there is no way you can get an intro 0% APR offer on balance transfers. You’ll need to look at Amex, Citi, or any provider other than Chase for a balance transfer card.
- Length of intro 0% APR period – You need to work out exactly how much you can afford to pay each month and work backward to determine how much time is required to pay the balance down. Give yourself some breathing room on this one; if you miss a payment and your account is no longer in good standing, you can kiss your intro APR rate goodbye.
- Balance transfer fee – One of the factors we give plenty of weight to when evaluating Intro APR cards is the balance transfer fee. Let’s say you're choosing between three intro APR cards, and you’re transferring a balance of $10,000. One card charges no transfer fee, one charges 3%, and one charges 5%. The card charging no transfer fee gets a $300 to $500 head start on the other cards, money that could go to paying down a substantial portion of the initial card balance.
- Regular APR rate – If you don’t think you can pay the entire balance down before the introductory APR rate ends, the regular APR rate on the card will have a significant impact on the card you pick.
- Annual fee – If you’re focused on paying down your credit card balance, it doesn’t make sense to be paying a yearly fee on the balance transfer card. Every card we have listed features no annual fee.
Final Thoughts
When choosing a balance transfer card, look for one that provides a long intro APR period, charges no annual fee, and preferably doesn’t charge a balance transfer fee. Selecting the right card could save you thousands of dollars in fees and interest over the introductory term, providing a low-cost method of servicing existing credit card debt.
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Great info for people interested in balance transfers. I have to agree with others that carrying a balance negates any rewards earned
Nice compilation for future referenec
Great list for those needing 0% APR.
I dont carry a balance but this post is great if I needed to!!
best to read all of the terms before signing up
I was able to get a second American Express EveryDay card when we need it 0% balance transfer fee and 0% interest for an extended time. That brought my total of American Express cards to 5.. happy gal I am😅
It’s always good to see 0% APR offers.
Good list and useful for those trying to use these offers to get rid of higher interest debt (student loan, etc.) as even with the fee you can come out way ahead with 0%. Certainly not for general use of those in the “hobby” though.
Absolutely, that’s a great time to use a 0% APR card.
I think its better to be have zero credit-card debt before thinking about earning miles / sign-up bonuses etc
This is super helpful! The 0% APR is definitely my go-to to negate my 8.99% student loan interest I’m currently accruing – yuck!
Balance transfers make me nervous, I never have done one before, since I pay off every month. This is good info to know in case one day….
great list to start 2019.
sounds good!
Long gone are the days when the fees on incessant 0% offers were also $0 (then capped at $50, then $75).
This is a great list. I currently have the Blue Cash Everyday and it’s great.
Great to know. Thanks!
While all the admonitions against carrying a balance are sound advice, circumstances can change (e.g., job loss) to the point where paying off a card balance may not be the optimal use of available cash. In that case a low-/no-interest balance transfer can buy valuable time until the cash flow situation improves and the gaming can resume…
Agree 100%. We all aspire to be in perfect financial shape but sometimes it only takes one unexpected expense to throw your budget under the bus.
that’s cool. Good to know!
I recently received a targeted offer for the BBP for 0% apr for 18 months, just got the card. I am loving the card
Good information for some to minimise the damage for carrying a balance but there are free credit cards for those who need this, best to pay off monthly as others have suggested.
The Amex EveryDay Credit Card from American Express with no transfer fee is the best.
Thanks for the summary. Chase Slate is my favorite card for balance transfers.
We recently bought a truck and Ineeded to carry portion of that balance over after charging it to a different credit card earning mega points. American Express EveryDay with 0% APR for 15 months and 0% balance transfer fee was perfect!!
In Europe Curve and Revolute offer good possibilities concerning the 0% APR.
The very first card you introduce, the Amex Everyday, is not available when you click the link to go to it!
Hey Joe, sorry for the trouble. We’re not able to provide a link to the Amex EveryDay card. You should be able to find the offer mentioned in the post by going directly to the Amex website.
This is something you shouldn’t be doing if you’re trying to take advantage of travel rewards!
Great to know.
Who doesn’t like a 0% APR! Thanks for the info!
Carrying a balance on a card is not something I do, so while 0% APR might be nice for some, it is not something I look for in a card’s benefits.
Wow! Great review if you need to carry a balance.
I agree with others. If you really need this then you probably shouldn’t be in the points and miles goal. I remember being in that predicament but thank goodness I’m out of that. Now I am trying to teach my children all about earning. I have started by chores earning “amazon” points and allowance. This way they know they have money to spend and still have “points” that they are earning.
I just hope that my husband and me talking about our money helps our children not get into this situation. I understand there are things out of our control that can get anyone to this point and it’s hard to get out once you’ve got balances. Kudos to anyone who gets out of carrying a balance!
Thanks for this one. Good timing after a lot of Christmas shopping.
This is a great description of how to use balance transfers to your benefit in certain situations. However, I agree with the other poster about the idea that if you carry a balance at all, then a points and miles hobby is not for you.
I try to never have a balance, I would use this for a big ticket item I want to pay off slowly.
There does seem to be value here in the right circumstances. If interest rates continue to rise an arbitrage situation may be more worthwhile.
The Amex everyday card is my favorite from the list.
Thanks for the list!
Be in a position to pay off your balances in full every month before joining in the points/miles credit card game.
Has a role and can be a consideration in choosing a card option. However, always understand all terms and use credit wisely.
The list is handy.
This is great if you have an end game to paying it off before the window that is interest free.
I can see this being beneficial in a very very limited number of situations. But I don’t like debt and pay close attention to fees on cards.
“But I don’t like debt and pay close attention to fees on cards.” Which is what brought you to this blog, in part! 🙂
definitely useful for people like college students to defer payments.
0% is always good
Useful info for some, I’m sure, and not to besmirch anyone, but if one’s concern is acquiring a product with 0% interest, one might want to re-evaluate one’s participation in the “travel hacking” hobby.
I agree with this. Carrying a balance is the quickest way to negate any rewards one may earn.