This page includes information about the Discover it® Cash Back, which is currently not available on Business Insider and may be out of date.
The best balance transfer credit cards in 2021:
| Card | Standout feature | Intro APR period |
| Late payment forgiveness | 18 months | |
| Low intro APR | 18 months | |
| 2% cash back on all purchases* | 18 months | |
| Intro APR offer on both purchases and balance transfers | 20 billing cycles | |
| Cash back on rotating categories | 14 months |
*1% when you buy, plus 1% as you pay
Chase, Capital One, and American Express credit cards currently do not offer 0% interest on balance transfers.
If you've gone over budget and find yourself carrying credit card debt, you don't need to resign yourself to paying interest. In fact, you should avoid this if at all possible — the average credit card APR is 14.65%, and it could be even higher depending on your credit score and the card you're using.
Fortunately, there's one type of credit card that can help you avoid paying interest on your debt if you use it the right way: a balance transfer credit card.
The best balance transfer credit cards compared
Here are the best offers available today based on their introductory offers, fees, and perks.
Longest intro APR with no late fees: Citi Simplicity® Card
Consumers with a lot of high-interest credit card debt could save more with a card that offers 0% for as long as possible. The
There's no annual fee, yet you get a 0% intro APR on balance transfers for 18 months (transfers must be completed in the first four months) and 0% intro APR on purchases for 18 months. After that, your rate goes up to a
Other perks this card offers include automatic account alerts, 24/7 customer service, and the ability to choose your payment due date.
Pros: No annual fee, score 0% intro APR on balance transfers for a full 18 months (then a
Cons: 3% balance transfer fee, few cardholder perks
Long intro APR offer: Citi® Diamond Preferred® Credit Card
The
The biggest difference between these two cards is that the Citi Simplicity card doesn't charge late fees, while a penalty APR of up to 29.99% applies if you pay late with the Citi Diamond Preferred.
Pros: No annual fee, 0% intro APR on balance transfers for 18 months (then
Cons: 3% balance transfer fee, doesn't waive late fees
Best for easy cash back: Citi® Double Cash Card
With the
But what makes the
You do have to pay a fee for transferring a balance; it's 3% of each balance transfer, with a minimum charge of $5.
Pros: Strong cash-back rate, no annual fee, long intro APR period
Cons: 3% balance transfer fee
Intro APR on both purchases and balance transfers: U.S. Bank Visa Platinum Card
The
Getting a 0% intro APR on balance transfers and purchases makes this card a solid option for anyone who has debt to transfer or a big purchase to make. If you wanted to buy new appliances or use credit to cover a minor kitchen remodel, for example, you could do so and repay your balance at 0% APR for 20 billing cycles.
Other benefits you'll get with this card include cell phone protection, a free TransUnion credit score each month, and the ability to choose your payment due date. This card also comes with no annual fee, although there is a balance transfer fee of 3% or $5.
Pros: 0% intro APR good for both balance transfers and purchases, no annual fee, cell phone protection
Cons: 3% balance transfer fee
Earn cash back on rotating categories: Discover it® Cash Back
Consumers who want to make a big purchase and pay it off slowly over time should consider the
Not only does the
Pros: Earn cash back for your purchases
Cons: Rewards can entice you to spend more
How we chose the best balance transfer cards
Business Insider selected the best balance transfer cards by looking at all the credit cards with balance transfer offers that are currently available to new applicants. This is important to note, because one of the best balance transfer cards, the Chase Slate, is currently closed to new applicants.
From there, we narrowed our list down to balance transfer credit cards offering 0% introductory offers. We arrived at our final picks by evaluating the terms of each introductory APR offer and other card benefits. We prioritized cards that don't charge balance transfer fees as well as cards with the longest introductory 0% APR periods on balance transfers. We also factored in other card benefits, such as cash back or travel rewards, annual fee, and waived late fees.
Frequently asked questions about balance transfer credit cards
What is a balance transfer card?
Balance transfer cards let consumers with existing credit card debt move their outstanding balance over from another card to avoid interest fees. You're able to avoid interest on a balance transfer card thanks to an intro 0% APR offer, which lasts anywhere from nine to 21 months.
After this introductory period is over, your APR will reset to the standard variable rate. So you need to pay off your credit card debt in full before the intro APR period ends in order to avoid interest charges.
What's the catch? Some balance transfer credit cards charge an upfront balance transfer fee of 3% or 5% of your balance — or $300 to $500 for every $10,000 in high-interest debt you transfer. If you don't need to transfer a balance but you need to make a large purchase that you'll need time to pay off, see our list of the best credit cards with intro APR offers.
How do balance transfer cards work?
Balance transfer cards can save you money by securing you a lower interest rate on your existing credit card debt. When you apply and are approved for a balance transfer credit card, you move over debt from another card, and you generally have an introductory 0% APR period before you have to start paying interest on that debt. Ideally, you'll pay off your debt before the introductory period ends — otherwise, you'll have to pay interest on your remaining balance.
Is a balance transfer card right for me?
A balance transfer could be right for you if you currently have credit card debt, and you have a plan to pay it off. By using a balance transfer credit card, you'll get a bit of breathing room with the introductory 0% APR period. This allows you to pay off your debt without adding interest.
If you don't think you'll be able to pay off your debt in full by the time the introductory APR offer expires, a balance transfer credit card may not be worth it. You'll end up having to pay interest on your remaining balance.
How do I perform a balance transfer?
The first step in completing a balance transfer is applying for — and getting approved for — a balance transfer credit card. Once you have a card with an introductory APR offer on balance transfers, to transfer your credit card balance, you'll need to request the transfer with the bank that issues your new balance transfer credit card. You can generally initiate this process either online or by calling the number on the back of your card.
How long does a balance transfer take?
A balance transfer generally takes five to seven days, but the actual time can vary by issuer. Your bank may ask you to allow for up to 21 days for a balance transfer to go through, but usually, the transfer should be completed sooner. Experian has a handy chart listing the average balance transfer timeframes by bank.
What credit score do I need for a balance transfer card?
If you have bad credit— which is defined as a credit score below 669 — you probably won't be approved for a balance transfer card. A bank may be less inclined to approve you for a balance transfer card if your credit score and credit report indicate that you haven't been able to consistently pay off debts in the past.