Best balance transfer credit cards: 0% intro APR for 12–21 months

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A balance transfer credit card can help you manage and eliminate debt with introductory offers that provide a temporary break from interest charges. The best balance transfer credit cards available from our partners have introductory 0 percent APR offers lasting 12 to 21 months, giving you an opportunity to avoid paying APR on a transfer until early 2023 — or even 2024. You can see how it works with our Credit Card Balance Transfer Calculator and Credit Card Payoff Calculator.

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BEST FOR CUSTOMIZABLE REWARDS

U.S. Bank Cash+® Visa Signature® Card

Reward rate
5

5% cash back on your first $2,000 in eligible net purchases each quarter on the combined two categories you choose.

3

5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center.

-1

1% cash back on all other eligible purchases.

1

1% cash back on all other eligible purchases.

Intro offer

$200 bonus

Annual fee

$0

Regular APR

16.74% - 26.74% (Variable)

Recommended credit

Good to Excellent (670 - 850)

The U.S. Bank Cash+® Visa Signature® Card is packed full of bonus rewards categories. It will take more than a little effort to track them all, but people who don’t mind strategizing to earn high rewards for all their purchases will enjoy having this card in their collection.
Pros
  • Multiple rotating and fixed bonus categories, which can make it easier to earn rewards quickly
  • The $200 sign-up bonus (after spending $1,000 within the first 120 days of account opening) increases the card’s first-year value
Cons
  • The $2,000 combined spending cap each quarter for your chosen 5% categories limits your ability to rake in rewards
  • Having to track and enroll in rotating categories can be a hassle for some
  • New! $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.
  • 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose
  • 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center
  • 2% cash back on one everyday category, like Gas Stations/EV Charging Stations, Grocery Stores or Restaurants
  • 1% cash back on all other eligible purchases
  • 0% Intro APR on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR currently 16.74% – 26.74%
  • No Annual Fee
  • Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
  • Terms and conditions apply.

ADDITIONAL FEATURES

Purchase intro APR
0% Intro APR on purchases for the first 15 billing cycles.

Balance transfer intro APR
0% Intro APR on balance transfers for the first 15 billing cycles.

BEST FOR PERSONAL LOAN ALTERNATIVE

Upgrade Cash Rewards Elite Visa®

Reward rate
2.2

Earn 2.2% unlimited cash back on card purchases every time you make a payment

Intro offer

$200

Annual fee

$0

Regular APR

8.99% - 29.99% (Variable)

Recommended credit

Good to Excellent (670 - 850)

If you value having an incentive for making your credit card payments, you will find a lot to love with this card option. You’ll earn a competitive rate of 2.2 percent cash back on your purchases each time you make a payment. The card is also fairly affordable, skipping the annual fee, foreign transaction fees and many other common maintenance fees.
Pros
  • You won’t need to use your reward earnings to offset any maintenance fees.
  • You’ll earn a bonus after you open a Rewards Checking account and make three purchases with the card in your first 60 days.
Cons
  • The high end APR range is well above average. That could prove costly if you don’t have the credit needed to qualify for the lower range and you end up carrying a balance.
  • You won’t get a break on interest if you carry a balance since there are no intro APR offers on purchases or balance transfers.
  • $200 bonus on your Upgrade Card after opening a Rewards Checking account and making 3 debit card transactions within 60 days.*
  • New Feature: Pay your balance in full early each month and avoid interest with EarlyPay.
  • Earn 2.2% unlimited cash back on card purchases every time you make a payment
  • See if you qualify in seconds with no impact to your credit score
  • No Fees – $0 annual fees, $0 activation fees, $0 maintenance fees
  • Combine the flexibility of a card with the low cost and predictability of a loan
  • Access to a virtual card, so you can start earning while you wait for your card to arrive in the mail.
  • Contactless payments with Apple Pay® and Google Pay™
  • Mobile app to access your account anytime, anywhere
  • Enjoy peace of mind with $0 Fraud liability
  • *To qualify for the $200 welcome bonus, you must open and fund a new Upgrade Rewards Checking Account and make 3 debit card transactions within 60 days of your Upgrade Card account opening. The bonus credit will be posted to your Upgrade Card as a rewards credit within 1-2 billing periods following the third debit transaction on your Rewards Checking account. Your Upgrade Card must be in good standing to receive the bonus.

ADDITIONAL FEATURES

Purchase intro APR
N/A

Balance transfer intro APR
N/A

BEST FOR GROCERIES

Blue Cash Preferred® Card from American Express

Reward rate
6

6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).

1

6% Cash Back on select U.S. streaming subscriptions.

3

3% Cash Back at U.S. gas stations

0

3% Cash Back at U.S. gas stations

1

1% Cash Back on other purchases

Intro offer

$350

Annual fee

$95

Regular APR

16.24%-26.24% Variable

Recommended credit

Good to Excellent (670 - 850)

With generous rewards rates in family-friendly categories including purchases at U.S. supermarkets and U.S. gas stations, on-the-go families will have a hard time finding a more rewarding credit card.
Pros
  • The base reward program is uber-lucrative, making this card a good choice for people looking for long-term value.
  • You don’t have to keep track of rotating spending categories or enrollment deadlines.
Cons
  • There is no intro APR offer on balance transfers.
  • You won’t earn the extra rewards for grocery shopping at major superstores and wholesale clubs, as those don’t count as U.S. supermarkets.
  • Earn a $350 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 12 months after account opening. Plans created after that will have a fixed monthly plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
  • Low intro APR: 0% intro APR for 12 months on purchases from the date of account opening, then a variable rate, 16.24% to 26.24%.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
  • 1% Cash Back on other purchases.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • $95 Annual Fee.
  • Terms Apply.

ADDITIONAL FEATURES

Purchase intro APR
0% on purchases for 12 months

Balance transfer intro APR
N/A

BEST FOR ROTATING CASH BACK CATEGORIES

Discover it® Cash Back

Reward rate
5

Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.

1

Plus, earn unlimited 1% cash back on all other purchases – automatically.

Intro offer

Cashback Match™

Annual fee

$0

Regular APR

13.49% - 24.49% Variable

Recommended credit

Good to Excellent (670 - 850)

The Discover it Cash Back is a popular choice for cash back rewards because of the rotating bonus categories. It’s an exciting way to earn cash back quarter by quarter and all year-round without committing to a set rewards category.
Pros
  • Discover will match the cash back you earn at the end of the first year.
  • There are a few cash back redemption options, including credit to your account and donations.
Cons
  • You must enroll to take advantage of the bonus categories each quarter.
  • There is a spending limit on your highest cash back category each quarter ($1,500 in combined purchases per quarter).
  • Intro Offer: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
  • Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • New! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Every $1 you earn in cash back is $1 you can redeem.
  • New Intro APR: Get a 0% intro APR for 15 months on purchases. Then 13.49% to 24.49% Standard Variable Purchase APR applies, based on credit worthiness.
  • No annual fee.

ADDITIONAL FEATURES

Purchase intro APR
0% for 15 months

Balance transfer intro APR
0% for 15 months

BEST FOR UP TO 2% CASH BACK

Citi® Double Cash Card

Reward rate
2

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

Intro offer

$200 Cash Back

Annual fee

$0

Regular APR

16.24% - 26.24% (Variable)

Recommended credit

Good to Excellent (670 - 850)

If you make your payments on time each month, it’ll be tough to find a better cash back card than the Citi Double Cash Card. With healthy financial habits, this card effectively becomes a 2 percent flat-rate cash back card (1 percent when you make purchases and another 1 percent when you pay your bill), a rare find in the cash back market.
Pros
  • You can convert your cash back earnings to Citi ThankYou points when paired with a card like the Citi Premier® Card, which can be redeemed for travel, gift cards and more.
  • There are no spending category restrictions or rotating categories
Cons
  • Your rewards can expire with this card if you don’t use it for a year.
  • The sign-up bonus spending requirement is higher than you’ll find on many no-annual-fee cash back cards.
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • For a limited time, earn $200 cash back after spending $1,500 on purchases in the first 6 months of account opening.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 16.24% – 26.24%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

ADDITIONAL FEATURES

Purchase intro APR
N/A

Balance transfer intro APR
0% intro for 18 months on Balance Transfers

A closer look at Bankrate’s top balance transfer cards

Capital One SavorOne Cash Rewards Credit Card: Best for dining and entertainment

  • What we love about the Capital One SavorOne: It’s rare for a no annual fee card to earn such robust rewards rates in these particular categories in dining, entertainment, popular streaming services and grocery store categories.
  • Who this card is good for: Socialites and social butterflies who will make the most out of the SavorOne’s very generous dining rewards.
  • Alternatives: The Discover it Chrome card is another card that offers competitive rewards rates on dining. It also tacks on gas rewards which is great for people who are often on the go, something that the SavorOne falls a bit short on.

Blue Cash Preferred Card from American Express: Best overall cash back for families

  • What we love about the Blue Cash Preferred: The rewards categories on this card are some of the most popular spending categories for most consumers so if you play your cards right (pun intended), you’ll have a nice stack of rewards in your cash back match in your first year.
  • Who this card is good for: On-the-go people who spend a fair amount of money at gas stations and restaurants. You can earn 2 percent in those categories on up to $1,000 in combined purchases each quarter, then 1 percent.
  • Alternatives: The Capital One SavorOne Cash Rewards card outpaces the Discover it Chrome by a lot if your main squeeze is getting the most out of dining rewards.

Citi Rewards+ Card: Best for rewards on small purchases

  • What we love about the Blue Cash Preferred: Thanks to the Citi Rewards+ Round Up feature, every purchase you make will be rounded up to the nearest 10 points. For example, a $4 coffee would be worth 10 points.
  • Who this card is good for: Frequent supermarket and gas station shoppers who want to earn cash back rewards easily without big spending habits.
  • Alternatives: If you want to expand beyond the Citi ThankYou® Points program, the Capital One Quicksilver Cash Rewards Card offers unlimited flat-rate rewards on all purchases, casting a wide net on your earning opportunities outside of a designated points program.

What is a balance transfer credit card?

A balance transfer credit card can help you pay off your debt by transferring existing card balances to a new credit card with a 0 percent intro APR period. During that time, you have the chance to pay off the principal without paying interest. When the intro APR period ends, interest will apply to any remaining balance at the end of each billing cycle like a regular credit card.

What is a balance transfer fee?

A balance transfer fee compensates a lender for taking the risk of issuing a temporary interest-free loan. The typical fee is 3 or 5 percent of the balance being transferred and is always at least $5 or $10.

Pros and cons of Balance Transfer credit cards

  • Save money: You could save money on interest payments by temporarily avoiding interest on transferred debt.
  • Improve credit utilization ratio: Debt reduction can increase your credit utilization ratio over time, which means you’re utilizing less of your available credit.
  • Reduce monthly payments: The temporary break from interest on your transferred balance could translate to a lower monthly payment.
  • Consolidate debts: If you have multiple cards with high balances, you can simplify your debt payment process by consolidating the debt onto one card.
  • High credit approval threshold: The best offers with the longest 0 percent APR terms tend to be available to people with good or excellent credit.
  • Interest paid on remaining balance: If you don’t pay off the transfer entirely during the introductory period, the remaining balance will be subject to the new card’s regular APR.
  • Less attractive rewards: The main feature on most balance transfer cards is a lengthy intro APR period, though some cards do offer fairly modest cash back rewards.
  • Limits on transfer amounts: Balance transfer cards may limit the amount that you’re allowed to transfer and it can be difficult to know these limits until you apply for the card.

Who should get a balance transfer credit card?

According to The Federal Reserve, about half of all credit card users carry a month-to-month balance. If you find yourself among this group and your current card has a high interest rate, a balance transfer credit card with an introductory 0 percent APR offer can help you address some key financial issues and save a bit on interest. A balance transfer card is worth considering for the following people:

If you want to pay down credit card debt and avoid added interest costs, a solid balance transfer card may work well for you. Debt can be expensive, especially credit card debt. As of August 10, 2022, Bankrate estimates the current average interest rate on credit cards at 17.58 percent variable. The best balance transfer credit cards come with 0 percent APR intro offers that provide a 12- to 21-month window to pay off balances.

If you find yourself looking for extra time to pay off a balance but don’t want the long-term commitment of a loan, balance transfer cards usually offer a quicker solution along with the advantage of 0 percent intro APR offers. It’s also important to note that balance transfer offers don’t last forever and these kinds of cards are best suited for people who can pay off balances before accruing extra charges when the intro offer ends.

If you like to keep all your ducks in one place, consider transferring multiple balances to one balance transfer credit card. This way, you’ll have just one monthly payment to keep track of — no more multiple accounts, passwords and payment due dates.

Creditcard's Insight

Still unsure if a balance transfer credit card is right for you? Check out our Credit Card Spender Type Tool where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.C

How to choose the best balance transfer credit card

The best credit cards for balance transfers share several key features. To choose a balance transfer credit card that fits your unique financial situation, consider the following three questions:

Does the card offer an introductory APR?

If you think you’ll need a 0 percent introductory APR period in addition to a low balance transfer fee, consider a credit card with a zero-interest offer for balance transfers and purchases. While the promotional APR is in effect, be mindful that charging a new purchase you can’t readily pay off might make it harder to pay off the transferred balance.

What are the card’s fees?

To learn more about the card’s fees, the terms and conditions will include details such as the balance transfer fee, late payment penalties, how much time you have to transfer the balance to qualify for the introductory offer and what happens when your 0 percent intro APR period ends. If you have trouble finding the information you’re looking for, call the issuer or visit its website.

What are your approval odds?

Like any other credit card application, a balance transfer card application will result in either approval or denial. If you’re denied a balance transfer card, you may be concerned about the short-term effects on your credit score. Consider if it’s worth applying and undergoing a hard credit pull if you are unsure of your approval chances.

Does the card have long-term value?

Some of the best balance transfer cards offer general benefits to cardholders, such as extended warranties on purchases and identity theft protection services, as well as rewards programs that can help offset interest payments or provide additional discounts or savings on purchases. If you want to use your card for daily purchases like gas or groceries, you may be able to earn points or miles that may be redeemed for gift cards, statement credits or more.

You can search for preapproval options using tools like CardMatch™ by Bankrate and get a glimpse of what you could feasibly be approved for without the consequences of a hard credit pull.

How to do a balance transfer

You don’t have to be an expert in personal finance to understand the balance transfer process. It’s essentially a matter of moving debt from one credit account to another. The main things to know are:

  1. Apply for and open a balance transfer card: As is the case with any credit card option, you’ll first need to apply for a balance transfer card and be approved. Balance transfer cards are most attainable with a good to excellent credit score.
  2. Know how much time you have: Once you’ve applied for and received a balance transfer card, you have a certain period of time in which you can make transfers that qualify for the zero-interest offer.
  3. Initiate the transfer: Most issuers will have a process online or in the mobile app that allows you to make balance transfer requests. You’ll need account and credit card numbers handy to start the process.
  4. Look for confirmation: The issuer of your balance transfer card will notify you when the transfer is completed, but always check your other account(s) and keep making payments on your previous card(s) until it’s done. Timelines for processing balance transfers vary from issuer to issuer. In some cases, it could take 7 to 10 days to complete. In some cases, it could take a couple of weeks — or even as long as a month.

If you have questions at any point in the process, contact a customer service representative for help. It’s your money, after all, so you’ll want to get everything right.

How to maximize your balance transfer card

  • Try to only use your balance transfer credit card to handle debts. Unless your balance transfer card also has an intro APR offer on purchases, it’s best to use one card to primarily aid in paying down your debts and a different card to handle small purchases that you can pay off immediately (and potentially earn rewards on).
  • Initiate your transfer quickly. Some cards on the market have a window of time within which you must initiate transferring a credit card balance to receive the full benefits of the intro offer.
  • Always pay on time and more than the minimum amount due whenever possible. To expedite paying down debt and take even further advantage of a balance transfer card’s intro APR offer, it’s always a great practice to pay more than the minimum amount due when you can in addition to paying on time, every time.
  • Make a strategic plan to tackle your debt. Understand how much debt you owe, how long you want to take to pay it off and how your balance transfer card can help you manage your debt. As a general rule of thumb, try to make your pay-off timeline match up with the balance transfer card’s intro APR period.

How much money could you save with a balance transfer?

A 0 percent intro offer could save you several hundred dollars or more if you’re paying down a large balance.

Experian’s 2021 State of Credit report shows that the average credit card balance reached $5,525. Here’s how much you could save by transferring a credit card balance of $5,525 to one of our best balance transfer credit cards, based on the following conditions:

  • You would pay the balance transfer fee upfront and pay off the $5,525 balance within the intro offer period.
  • Potential savings with each card are calculated by comparing how much interest you would pay on your current card at 20 percent APR (using our Credit Card Payoff Calculator), minus the balance transfer fee.
Creditcard's Insight

What’s the difference in cost between a 2 percent and 3 percent balance transfer fee? On a $5,000 balance, a 2 percent fee would be $100 and a 3 percent fee would be $150. The difference in cost is even more pronounced with a 5 percent balance transfer fee: $250.

What’s the longest 0% APR balance transfer offer?

Currently, the longest 0% intro APR offers on the market are up to 21 months, offered by the Wells Fargo Reflect, Citi Diamond Preferred and Citi Simplicity cards. Although any temporary break from credit card APR is beneficial, a longer intro offer will give you the best opportunity to avoid interest as you pay off your transferred balance. The chart below shows the top three cards with the longest intro APR offers.

Alternatives to a balance transfer card

Transferring a credit card balance to a balance transfer card is one of the best ways to pay off debt and save money, but there are other ways to manage your debt that don’t involve a balance transfer card. Here are a few options to consider:

  1. Find out if you can qualify for a reduced interest rate: Your credit score may have improved since you opened the account, so requesting a reduced interest rate from your issuer may be beneficial. You might be able to get some points deducted from your rate or have your account transferred to a lower-interest card.
  2. Pay more than the minimum due using a debt repayment calculator: The minimum monthly payment is the absolute least you can pay without penalty — but you won’t get far paying off your debt that way. Using a debt payment calculator, you can figure out how much interest you could save if you paid off your credit card balance without transferring. You need to pay interest on less money to see actual savings, so by paying more than the minimum, you can reduce the principal balance.
  3. Take advantage of a personal loan or debt consolidation loan: A personal loan can help you pay off your high-interest debt, but it’s critical to remember that a personal loan only makes sense if the interest rate is lower than the interest on your credit card debt. You can get a loan from a bank, credit union or online lender, and you may even be able to pay your creditors directly with some loans designed for debt consolidation.
Creditcard's Insight

What’s the difference in cost between a 2 percent and 3 percent balance transfer fee? On a $5,000 balance, a 2 percent fee would be $100 and a 3 percent fee would be $150. The difference in cost is even more pronounced with a 5 percent balance transfer fee: $250.

If you’re trying to pay off credit card debt, your first thought might be to do a balance transfer to take advantage of a 0 percent APR offer, but if you don’t qualify for any of the few balance transfer card offers available right now, there are still plenty of alternative options to consider; ranging from using Affirm or Klarna to pay on small purchases to applying for a personal loan. It’s important to work on improving your credit score before applying for a balance transfer card, so we recommend making the most of any opportunity to pay down debt – whether that’s by applying for a balance transfer card or opting for an alternative option.

How we chose our top American Express credit cards

Creditcard’s writers and editors have evaluated dozens of options to determine which cards are most likely to help you achieve your financial goals with a balance transfer. In this category, our 5-star scoring system pays particular attention to the essential features of a balance transfer credit card, including:
0% introductory APR offer

Balance transfer cards should ideally have a long 0% APR introductory offer — between 12 and 18 months, if not longer. You’ll have more time to pay off the transferred balance before the regular APR takes effect.

Regular variable APR

Regular variable APR is the interest rate that you will be charged after the introductory 0% APR period. Ideally, the low end of the variable APR range should be at least a few points below 16% with a high end no more than 26%.

Balance transfer fee

The best balance transfer credit cards will charge a low fee on transferred balances, or even no fee at all. If you have an excellent credit score, consider asking to have the fee lowered or waived.

Frequently asked questions about credit cards for excellent credit scores

You might experience a temporary dip in your credit score after you complete a balance transfer. Applying for a new credit card involves a hard inquiry, and opening a new card shortens your average account age.

Yes, but transferring balances multiple times can quickly deplete your available credit and increase your overall debt-to-credit ratio, making it harder for you to get approved for future credit and causing your interest rates to rise as well.

Balance transfer cards allow you to transfer debt from one credit account to another, although there is usually a 3 to 5 percent fee. Zero-percent APR cards feature an interest-free intro period when using the card for balance transfers, purchases or both.

You might be able to get a balance transfer card with bad credit, but a bad credit score — which indicates more risk for the issuer — will make it difficult to qualify for an introductory zero-interest offer.

Depending on the issuer, you could transfer auto, student or payday loans balances to a credit card. Most issuers won’t allow transfers from existing accounts with the same issuer, but some allow transfers of multiple debts to one card.

Contact the issuer to resolve the issue. Getting denied for a balance transfer can mean anything from transferring amounts higher than your credit limit to attempting to transfer a balance owed to the same issuer.

The Credit CARD Act of 2009 requires introductory offers to be at least 6 months long, but offer periods can run as long as 21 months. The average falls around 15 months.

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