A credit card with a balance transfer feature can assist you in managing and paying off debt thanks to introductory APR deals that provide you a temporary reprieve from interest payments.
“Balance Transfer Cards”
With the finest balance transfer credit cards offered by our partners, you may avoid paying interest on a transfer until the middle of 2024 or the start of 2025 thanks to promotional 0% APR rates that last 15 to 21 months.
Best Balance Transfer Cards
1.BankAmericard credit card
On our list of the best credit cards for balance transfers, the BankAmericard credit card features one of the lengthiest deals. Because there is no penalty APR associated with the card, your interest rate won’t increase if you pay your account past due.
Pros
- The extra-long introductory APR offered by this card is advantageous for both purchases and debt transfers.
2. This card may have a relatively low ongoing variable APR compared to other debt transfer cards, depending on your credit.
Cons
- Once your introductory APR offers expire, there won’t be many incentives to use this card because it lacks a rewards program.
2. To qualify for the introductory APR period, balance transfers must be made within 60 days.
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2.Bank of America Unlimited Cash Rewards credit card
If you qualify for this program, you might earn a 25 percent to 75 percent boost on your cash rewards potential, making the Bank of America Unlimited Cash Rewards credit card a great value for Bank of America loyalists who qualify for the Preferred Rewards Program.
Pros
- The benefits you earn with this card never expire, and there is no minimum redemption requirement for statement credits or direct deposits.
2. Since there is no yearly cost, cardholders can save some money.
Cons
- With this card, purchases done outside of the United States are subject to a foreign transaction fee.
2. To be eligible for Preferred Rewards, you must maintain reasonably high balances across all of your Bank of America accounts (at least $20,000 minimum).
3.Citi Custom Cash Card
An excellent balance transfer offer and abundant rewards are combined by the Citi Custom Cash Card.
You don’t need to enroll or make a spending plan beforehand because the bonus cash back rate applies to the qualified category where you spend the most each billing cycle (up to the first $500 spent per billing cycle, 1 percent cash back thereafter).
Pros
- With this card, intro APR promotions are available for both purchases and balance transfers.
2. This card offers some unusual benefits including free 3-month DashPass subscriptions and cell phone insurance.
Cons
- When you use this card overseas, a foreign transaction fee is applied.
2. This card’s introductory APR offers are shorter than those of other debt transfer cards available on the market.
4.Bank of America Customized Cash Rewards credit card
The Bank of America Customized Cash Rewards credit card may not have the longest introductory offers, but because of its aggressive cash back rewards program, it has a higher potential for long-term value than some of its immediate rivals.
Pros
- As long as the account is open and in good standing, your cash back will not expire.
2. You have the exceptional chance to switch your 3% spending category once every month.
Cons
- Your highest earning cash back categories have a spending limit.
2. To be eligible for the intro APR offer, you must transfer within the first 60 days and pay a balance transfer fee of 3% of each transfer’s value.
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5.Wells Fargo Active Cash Card
With no category restrictions or spending caps, the Wells Fargo Active Cash Card provides one of the best cash reward rates available on qualified purchases.
Our recommendation is to wipe off debt using the balance transfer offer before using the card as a tool for earning points.
Pros
- When compared to most balance transfer cards, this card offers a high rate of 2 percent limitless cash back on purchases.
2. You won’t pay anything to keep the card because there is no annual fee.
Cons
- There are balance transfer cards with extended introductory APR offer windows.
2. To avoid an enhanced balance transfer fee of up to 5% (minimum of $5), you must transfer your balance within the first 120 days of account opening.
6.Citi Double Cash Card
This card not only offers a competitive intro APR on balance transfers, but it also features a strong rewards program that encourages both spending and on-time payments.
Pros
- This card has one of the greatest potential cash back rates of any flat-rate cash back cards.
2. Due to the absence of an annual fee, cardholders can save a little more money each year.
Cons
- This card is a different option for people who are trying to develop credit because you need to have at least a fair to outstanding credit score to qualify for it.
2. This card’s introductory APR only applies to balance transfers; it is not useful for financing significant purchases.
Cons
- To apply for this card, you must have at least a fair to exceptional credit score, giving it a different option for people who are trying to develop credit.
2. The introductory APR for this card only applies to balance transfers; it is useless for financing significant purchases.
7.Citi Diamond Preferred Card
The Citi Diamond Preferred Card is a fantastic choice if you’re searching for a straightforward balance transfer card. Although it lacks rewards programs, which would otherwise give it long-term value, the intro APR period is still rather long and will give you the breathing room you need to pay off debt.
Pros
- For purchases and bill transfers, this credit card has a sizable introductory APR period.
2. The absence of an annual charge allows you to concentrate on paying off transferred debt.
Cons
- The card’s long-term worth is constrained by the absence of a rewards program.
2. If you don’t make your payments on time using this card, a penalty APR of up to 29.99 percent variable will be assessed.
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8.Citi Simplicity Card
The Citi Simplicity Card’s appeal lies in its lengthy introductory APR term and lax approach to fees and severe penalties. There are no late fees, annual fees, or APR penalties with this credit card. A reminder that late payments on transferred balances on this card are prohibited per the intro offer’s rules.
Pros
- Though missed payments might still lower your credit score, the card does not impose a late fee.
2. Although it’s always preferable to pay on time and in full when it’s feasible, this card does not incur a penalty APR if a payment is missed.
Cons
- This card doesn’t have a rewards program or welcome bonus.
2. For balance transfers made within four months of account opening, there is an initial fee of $5 or 3% of the transfer’s value, whichever is greater.
