Best Balance Transfer Credit Cards of 2021

Last updated Aug 26, 2021 | By FinanceBuzz Editors

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Completing a balance transfer — where you transfer a credit card balance to another credit card — to a card with a low APR is a smart way to accelerate your debt repayment and save money. The best balance transfer cards will give you 12 months or more at 0% APR, so you’ll have plenty of time to pay down your debt without worrying about interest charges.

In this article

Our picks for the best balance transfer cards:

Citi Double Cash Card

Citi Double Cash Card

Citi Double Cash Card

Annual Fee

$0

Rewards Rate

up to 2% cash back

Why We Like It

The Citi Double Cash Card lets you earn cash back twice. Earn 2% cash back on all purchases: 1% when you buy plus 1% when you pay. To earn cash back, just be sure to pay at least the minimum due on time.

In addition to unlimited cash back on all your purchases with no confusing categories, this card also offers a 0% introductory APR on balance transfers for 18 months and no annual fee.


Card Details
  • Earn cash back twice: 1% when you buy + 1% when you pay
  • up to 2% cash back on all purchases: 1% as you buy and 1% as you pay
  • Intro balance transfer 0% offer: 0% for 18 months then 13.99% to 23.99% (variable)

Intro Offer

$100 statement credit

Annual Fee

$0

Rewards Rate

Up to 20% cash back

Why We Like It

If you have good to excellent credit and want a rewards credit card that allows you to earn valuable cash back on your most common purchases, the Blue Cash Everyday Card from American Express may be a good match for you.

You’ll earn 3% cash back at U.S. supermarkets on up to $6,000 spent per year, 2% at U.S. gas stations and select U.S. department stores, and 1% cash back on all other purchases. Cash back is received in the form of statement credits. There’s also an easy-to-earn welcome bonus, a nice perk for a card that has no annual fee.

This is also a good card for large purchases.

Card Details
  • Earn $100 cash back (in the form of a statement credit) after spending $2,000 in the first 6 months; plus, earn 20% back on Amazon.com purchases in the first 6 months, for up to $150 back
  • 20% cash back at Amazon.com during the first six months (up to $150), 3% cash back at U.S. supermarkets up to $6,000 a year, 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on other purchases
  • Intro purchase 0% offer: 0% for 15 months then 13.99% to 23.99% (variable)
  • Terms apply

Citi Simplicity Card

Citi Simplicity Card

Citi Simplicity Card

Annual Fee

$0

Why We Like It

The Citi Simplicity Card is a great option for anyone who is looking for a long introductory APR period. Cardholders can enjoy a 0% introductory APR on purchases and balance transfers for 18 months.

Cardholders also don't need to worry about fees: There are no late fees, penalty fees, or annual fees with this no-frills, high-impact card.

Card Details
  • Long 0% APR period on purchases and balance transfers
  • Intro purchase 0% offer: 0% for 18 months then 14.74% to 24.74% (variable)
  • Intro balance transfer 0% offer: 0% for 18 months then 14.74% to 24.74% (variable)

Citi Custom Cash Card

Citi Custom Cash Card

Citi Custom Cash Card

Intro Offer

$200 cash back

Annual Fee

$0

Rewards Rate

up to 5% cash back

Why We Like It

The Citi Custom Cash is a great option for those who want flexible cash rewards and the option to pay off existing credit card debt over time. Cardholders earn 5% cash back in their top eligible spend category each billing cycle (up to $500) and 1% cash back on everything else.  

In addition to generous cash back, the Citi Custom Cash offers a 0% introductory APR on balance transfers for 15 months and no annual fee. 

Card Details
  • Earn $200 cash back after spending $750 on purchases in the first 3 months
  • 5% cash back in your top eligible spending category each billing cycle (up to the first $500 spent, and then 1% cash back after that), plus unlimited 1% cash back on all other purchases
  • Intro purchase 0% offer: 0% for 15 months then 13.99% to 23.99% (variable)
  • Intro balance transfer 0% offer: 0% for 15 months then 13.99% to 23.99% (variable)

Intro Offer

$100 statement credit

Annual Fee

$0

Why We Like It

The Chase Slate Edge Card is a great card for anyone who is interested in making balance transfers and having a card with an ongoing low interest rate.

Cardholders can benefit from this card's 0% introductory APR on balance transfers and purchases for 12 months. After that intro period, you'll be automatically considered for reduction of your regular APR. You could reduce your rate by 2% if you pay on time and spend a minimum of $1,000 per card anniversary year.

You'll also be eligible for an automatic review for a credit limit increase if you pay on time and spend $500 in the first six months of being a cardholder.

Card Details
  • Earn a $100 statement credit after spending $500 on purchases in the first 6 months
  • Intro purchase 0% offer: 0% for 12 months then 14.99% to 23.74% (variable)
  • Intro balance transfer 0% offer: 0% for 12 months then 14.99% to 23.74% (variable)

Wells Fargo Propel American Express Card

Wells Fargo Propel American Express Card

Wells Fargo Propel American Express Card

Intro Offer

20,000 points

Annual Fee

$0

Rewards Rate

up to 3X points

Why We Like It

The Wells Fargo Propel American Express card is best for frequent travelers looking for a rewards card with no annual fee.

You’ll earn 3X points per $1 spent on dining out and take out, gas stations, rideshare and transit, flights, hotels, car rentals, homestays, and popular streaming services. 

The card has an introductory 0% APR offer on purchases and balance transfers, giving you a full year before you have to pay interest charges on eligible transactions.

The Wells Fargo Propel offers cell phone protection, as well. Use the card to pay for your cell phone bill and you’ll get up to $600 in protection against theft or damage, subject to a $25 deductible. Terms apply.

Card Details
  • Earn 20,000 points when you spend $1,000 within the first 3 months
  • 3X points on eligible dining, transportation, travel, and streaming service purchases; and 1X points on other purchases
  • Intro purchase 0% offer: 0% for 12 months then 14.49% to 24.99% (variable)
  • Intro balance transfer 0% offer: 0% for 12 months then 14.49% to 24.99% (variable)

Citi Diamond Preferred

Citi Diamond Preferred

Citi Diamond Preferred

Annual Fee

$0

Rewards Rate

N/A

Why We Like It

The Citi Diamond Preferred is a great option if you need to finance a large purchase or have existing credit card debt and would like to pay it down over time. Cardholders can enjoy a 0% intro purchase APR for 18 months from date of account opening and a 0% intro balance transfer offer for 18 months from the date of first transfer. After that, the standard variable APR will apply.

In addition to its introductory APR, this card also has no annual fee, making it a solid, inexpensive option. 

Card Details
  • Long 0% APR period on purchases and balance transfers
  • N/A
  • Intro purchase 0% offer: 0% for 18 months then 13.74% to 23.74% (variable)
  • Intro balance transfer 0% offer: 0% for 18 months then 13.74% to 23.74% (variable)

Citi Rewards+ Card

Citi Rewards+ Card

Citi Rewards+ Card

Intro Offer

20,000 points

Annual Fee

$0

Rewards Rate

up to 2X points

Why We Like It

The Citi Rewards+ Card is a great option for those who enjoy earning rewards on their everyday purchases. Cardmembers earn 2X ThankYou points per dollar spent at supermarkets and gas stations on the first $6,000 in purchases per year. 

This card is good for smaller purchases because every purchase rounds up to the nearest 10 points. So both a $1 item and a $9 item will earn you 10 points. 

Citi Rewards+ cardmembers can also enjoy a 0% introductory offer on new purchases and balance transfers, a valuable welcome offer, and no annual fee.

Card Details
  • Earn 20,000 points after spending $1,500 on purchases in the first 3 months
  • 2X points at supermarkets and gas stations on the first $6,000 in purchases per year (and then 1X points thereafter), and 1X points on all other purchases
  • Intro purchase 0% offer: 0% for 15 months then 13.49% to 23.49% (variable)
  • Intro balance transfer 0% offer: 0% for 15 months then 13.49% to 23.49% (variable)

U.S. Bank Visa Platinum Card

U.S. Bank Visa Platinum Card

U.S. Bank Visa Platinum Card

Annual Fee

$0

Why We Like It

The U.S. Bank Visa Platinum Card is a great option for individuals looking for a card with a lengthy 0% introductory APR offer period.

Cardholders enjoy a 0% intro APR for 20 months on new purchases. This card also offers 20 months interest-free for balance transfers. And while it doesn't earn rewards, it does offer no annual fee, making it an inexpensive option.

Card Details
  • Long 0% APR period on purchases and balance transfers
  • Intro purchase 0% offer: 0% for 20 months then 14.49% to 24.49% (variable)
  • Intro balance transfer 0% offer: 0% for 20 billing cycles then 14.49% to 24.49% (variable)

Wells Fargo Platinum Visa Card

Wells Fargo Platinum Visa Card

Wells Fargo Platinum Visa Card

Annual Fee

$0

Why We Like It

The Wells Fargo Platinum Card is a straightforward credit card that has a long introductory APR on purchases and balance transfers.

With this card, you can also get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with it, as well as enjoy easy access to your FICO Credit Score.


Card Details
  • Long introductory APR period for purchases and balance transfers
  • Intro purchase 0% offer: 0% for 18 months then 16.49% to 24.49% (variable)
  • Intro balance transfer 0% offer: 0% for 18 months then 16.49% to 24.49% (variable)

>> See more balance transfer cards

How to pick the right card for you

Many credit cards are advertised as balance transfer cards, but they vary widely in terms of their promotional periods, fees, and regular APR. When evaluating credit card offers, consider these factors:

  • Length of promotional balance transfer offer: If you have a substantial amount of debt, you want the longest promotional APR offer possible to give you more time to pay off your debt without paying interest charges. Ideally, you want to choose a card that offers a 0% intro APR period of 12 to 18 months so you have over a year to pay down your balances.
  • Regular APR: Once the promotional APR period ends, the APR will revert to its regular fixed or variable APR. The normal interest rate on credit cards can be quite high. If you tend to carry a balance, it’s worth shopping around for a card that has a lower regular APR to reduce interest charges.
  • Annual fee: While some balance transfer cards charge an annual fee, not all do. To keep your costs low, look for a card that has a low annual fee or no fee at all.
  • Balance transfer fees: When you transfer a balance from a high-interest card to one that offers a 0% introductory period, most card issuers charge a balance transfer fee, which is often between 3-5% of the amount of each transfer. To put that in perspective, if you transferred over $3,000 to a card with a 5% balance transfer fee, you'd pay $150. Look for a card that has a lower fee, or for cards that will waive the fee for the first few months after opening an account.
  • Issuers: In most cases, you can’t transfer the balance from a card to another card with the same issuer. For example, if you have the Chase Freedom Unlimited card, you can’t transfer your balance to another Chase card. Instead, you’d have to transfer the balance to a card from another company.

FAQs about balance transfer cards

Do balance transfers affect your credit score?

While a balance transfer could help with debt consolidation, it might negatively impact your FICO score. When you apply for a new card, even when it’s for the purpose of completing a balance transfer, the issuer will perform a hard credit check. Too many hard credit inquiries can cause your score to drop. If you’re approved for the card, the age of your credit accounts will decrease as well, which can damage your credit score slightly.

You can minimize the effect on your credit score by not closing any current accounts. Also, if your goal is to build good credit, make sure you make your monthly payments by their due date. Your payment history is the single biggest factor used in determining your credit score. Late payments could result in penalty APRs and bad credit over time.

While applying for a new balance transfer card can negatively impact your credit score, if you're able to pay off your balance in full by the end of the 0% introductory period, your overall credit utilization ratio may improve, which could result in a boost to your credit score in the long run.

How long do balance transfers take?

The length of time it takes for a qualifying balance transfer to be completed varies by issuer. In general, you should expect your balance to transfer over to the new card within a week. However, it can take as long as 21 days.

What is the best credit card for balance transfers?

There’s no one best balance transfer credit card for everyone. When evaluating potential cards, consider your current credit score, the length of the promotional APR periods, the regular APR on each card, balance transfer fees, and other factors like late fees and if the card has a penalty APR.

How much can you transfer on a balance transfer credit card?

How much you can transfer onto a new credit card is dependent on your credit limit. For example, if you have $10,000 in credit card debt and the new 0% APR credit card has a credit limit of $6,000, you won’t be able to transfer over the full balance.

Can you make multiple balance transfers?

While you can complete multiple balance transfers — as long as you transfer to a card from a different issuer — having to do multiple transfers is a sign there are bigger issues with your debt. While completing a balance transfer can make you feel like you’re better managing your debt, doing it more than once signals that you may have a spending or cash flow problem.

Before doing another balance transfer, take a hard look at your credit card statements and identify areas where you can cut back. It’s also a good idea to create a budget for yourself and find ways to boost your income so you can regain control of your money.

Are balance transfers worth it?

Transferring a balance from a high-interest credit card to a card with a lower interest rate can make sense. Having a lengthy period of time with no interest could help you pay down your credit card debt. If you're considering a card with an intro balance transfer APR, take a good look at the card details before you apply. 

And if you're interested in perks beyond a 0% intro APR offer on balance transfers, many cards also offer introductory offers on new purchases, cashback rewards, bonus points on certain purchases, flexible rewards programs, or benefits like lucrative sign-up bonuses, no foreign transaction fees, or extended warranty coverage.

How we chose these cards (methodology)

To select the best balance transfer cards, we looked for cards from our partners that offer no annual fees and lengthy promotional 0% APR offers. With the chosen cards, you can get up to 18 months at a 0% APR introductory rate, giving you over a year to repay your entire balance without worrying about costly interest payments. 

We also looked for cards from multiple credit card issuers, as you typically can’t transfer your balance to a card from the same issuer. We did not evaluate all available credit cards in the market.

The final word on the best balance transfer cards

If you’re struggling with credit card debt, an introductory balance transfer offer could help you save money and pay off your balances faster. The best balance transfer cards give you over a year to pay down your debt interest-free, making them an effective personal finance tool for managing debt.

Earn Cash Back Twice

Citi Double Cash Card

Citi Double Cash Card

Citi Double Cash Card

Annual Fee

$0

Rewards Rate

up to 2% cash back

Benefits and Drawbacks

Benefits

  • 0% intro APR on balance transfers for 18 months
  • 2% cash back on all purchases - 1% when you buy and 1% when you pay
  • No annual fee

Drawbacks

  • Foreign transaction fee
  • No sign-up bonus
Card Details
  • Earn cash back twice: 1% when you buy + 1% when you pay
  • up to 2% cash back on all purchases: 1% as you buy and 1% as you pay
  • Intro balance transfer 0% offer: 0% for 18 months then 13.99% to 23.99% (variable)

Author Details

FinanceBuzz Editors The editors at FinanceBuzz are a team of personal finance professionals dedicated to providing readers with accurate, helpful advice.