dcsimg

Balance transfer credit card offers from our partners

By Curtis Arnold Editor-in-chief, updated on April 26, 2015

Should you apply for a balance transfer credit card offer?  If you're like many Americans, you may have struggled with credit card debt for years or perhaps you've found yourself on an endless treadmill of making a minimum payment each month and never reducing the balance on your credit card. If your goal is to reduce your credit card debt, a balance transfer credit card may be one way to increase the speed of your debt reduction plan.

The primary reason to choose a balance transfer offer is to give yourself time to pay off the debt while getting relief from ongoing interest charges that add to that debt. Balance transfer credit cards frequently offer side benefits such as cash back rewards, airline miles or low interest rates on new purchases.

Compare your card and see how it stacks up
Search

  

BankAmericard<sup>®</sup> Visa<sup>®</sup> Card
About Our Ratings

BankAmericard® Visa® Card

Editor's take by Curtis Arnold
  • This value version of the BankAmericard card offers a zero-percent introductory rate on purchases and qualifying balance transfers, chip technology for enhanced security at chip-enabled merchant terminals, and no annual feeā€ .
APPLY NOW Credit Needed Excellent
The Amex EveryDay<sup>SM</sup> Preferred Credit Card from American Express
About Our Ratings

The Amex EveryDaySM Preferred Credit Card from American Express

  • Earn 15,000 Membership Reward® points after you use your new Card to make $1,000 in purchases within the first 3 months.
  • Earn 50% more points: Use your Card 30 or more times on purchases in a billing period and earn 50% more points on those purchases less returns and credits. Terms and limitations apply.
  • 3x points at US supermarkets on up to $6,000 per year in purchases (then 1x); 2x points at US gas stations; 1x points on other purchases. Terms and limitations apply.
See More
Balance Transfer Intro APR 0% on Balance Transfers
Balance Transfer Intro Period for 15 months
Balance Transfer Fee See terms
Purchase APR 12.99% - 21.99% Variable
Annual Fee $95
APPLY NOW Credit Needed Excellent
The Amex EveryDay<sup>SM</sup> Credit Card from American Express
About Our Ratings

The Amex EveryDaySM Credit Card from American Express

  • Earn 10,000 Membership Reward® points after you use your new Card to make $1,000 in purchases within the first 3 months.
  • Earn 20% more points: Make 20 or more purchases with your Card in a billing period and earn 20% more points on those purchases less returns and credits. Terms and limitations apply.
  • 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases. Terms and limitations apply.
See More
Balance Transfer Intro APR 0% on Balance Transfers
Balance Transfer Intro Period for 15 months
Balance Transfer Fee See terms
Purchase APR 12.99% - 21.99% Variable
Annual Fee $0
APPLY NOW Credit Needed Excellent
Capital One<sup>®</sup> Quicksilver<sup>®</sup> Cash Rewards Credit Card
About Our Ratings

Capital One® Quicksilver® Cash Rewards Credit Card

  • One-time $100 bonus after you spend $500 on purchases within the first 3 months
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories and no sign ups needed to earn cash rewards
See More
Balance Transfer Intro APR 0% intro on balance transfers
Balance Transfer Intro Period until January 2016
Balance Transfer Fee 3%
Purchase APR 12.9% - 22.9% (Variable) 
Annual Fee $0
APPLY NOW Credit Needed Excellent/Good
Chase Slate<sup>®</sup>
About Our Ratings

Chase Slate®

Editor's take by Curtis Arnold
  • Features one of few zero-percent introductory APR balance transfer offers with an introductory $0 balance transfer fee for transfers made during the first 60 days currently available
  • Long standing editor's pick because of consistently above-average introductory offer
APPLY NOW Credit Needed Good
U.S. Bank FlexPerks<sup>®</sup> Select+ American Express<sup>®</sup> Card
About Our Ratings

U.S. Bank FlexPerks® Select+ American Express® Card

  • Earn 10,000 enrollment FlexPoints after you spend $1,000 in Net Purchases (purchases minus credits and returns) on your Card within the first four months of account opening.
  • Use your Card at select membership warehouse clubs and for everyday purchases.
  • 1 FlexPoint for every $1 in Net Purchases.
See More
Balance Transfer Intro APR 0% intro on Balance Transfers
Balance Transfer Intro Period 9 billing cycles on Balance Transfers
Balance Transfer Fee See terms
Purchase APR 13.99% - 23.99%* (Variable)
Annual Fee $0
APPLY NOW Credit Needed Excellent
Discover it<sup>®</sup>
About Our Ratings

Discover it®

  • 0% intro APR on balance transfers for 18 months--then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance.
  • 0% intro APR on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%
  • Free FICO® Credit Score on monthly statements, online and in our mobile app.*
See More
Balance Transfer Intro APR 0% Intro APR on balance transfers
Balance Transfer Intro Period 18 months
Balance Transfer Fee 3%
Purchase APR 10.99% - 22.99% Variable*
Annual Fee $0
APPLY NOW Credit Needed Excellent
Capital One<sup>®</sup> Platinum Prestige Credit Card
About Our Ratings

Capital One® Platinum Prestige Credit Card

  • Get 0% intro APR on all purchases until July 2016; 10.9%-20.9% variable APR after that
  • Balance transfers also have a 0% intro APR until July 2016, a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees
See More
Balance Transfer Intro APR 0% intro on balance transfers
Balance Transfer Intro Period until July 2016
Balance Transfer Fee 3%
Purchase APR 10.9% - 20.9% (Variable) 
Annual Fee $0
APPLY NOW Credit Needed Excellent/Good
Chase Freedom<sup>®</sup>
About Our Ratings

Chase Freedom®

Editor's take by Curtis Arnold
  • Currently offering a sign-up bonus and no annual fee
  • Offers a long introductory period in addition to a solid rewards program
Watch out for: Watch out for the cap on bonus cash back and be sure to set reminders to sign up for bonus categories each quarter
APPLY NOW Credit Needed Good
Visa<sup>®</sup> Black Card<sup>™</sup>
About Our Ratings

Visa® Black Card

  • Earn 25,000 Bonus Points when you spend $1,500 in the first 90 days* as part of our Industry - Leading Rewards Program.
  • Exclusive 24-Hour Concierge Service
  • VIP Treatment at over 3,000 Properties
See More
Balance Transfer Intro APR 0% Intro APR on balance transfers
Balance Transfer Intro Period For 15 months*
Balance Transfer Fee $5 or 3% of the amount of each transfer, whichever is greater
Purchase APR 14.99% Variable
Annual Fee $495
APPLY NOW Credit Needed Good
Barclaycard<sup>®</sup> Rewards MasterCard<sup>®</sup>
About Our Ratings

Barclaycard® Rewards MasterCard®

  • No annual fee
  • Earn 2 points per $1 on gas, grocery, and utility purchases and 1 point per $1 everywhere else
  • Use the points you earn like cash to pay for almost any purchases you've made.
See More
Balance Transfer Intro APR N/A
Balance Transfer Intro Period N/A
Balance Transfer Fee 3%, Minimum $5
Purchase APR 24.99%* Variable
Annual Fee $0
APPLY NOW Credit Needed Average/Fair
Discover it<sup>®</sup> card
About Our Ratings

Discover it® card

  • 0% intro APR on purchases & balance transfers for 14 months--then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance.
  • Over 8,000 cardmembers rated 4.8 out of 5 stars* and J.D. Power awarded Discover "Highest in Customer Satisfaction with Credit Card Companies. Tied in 2014."+
  • Free FICO® Credit Score on monthly statements, online and in our mobile app.*
See More
Balance Transfer Intro APR 0% Intro APR on balance transfers
Balance Transfer Intro Period 14 months
Balance Transfer Fee 3%
Purchase APR 10.99% - 22.99% Variable*
Annual Fee $0
APPLY NOW Credit Needed Excellent
Citi<sup>®</sup> Diamond Preferred<sup>®</sup> Card
About Our Ratings

Citi® Diamond Preferred® Card

  • Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness.*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer.
  • Citi Easy DealsSM Get what you want for less. Earn Citi Easy Deals Points for the purchases you make with your card. Redeem your points for great online deals on name-brand merchandise, gift cards and even local deals.
See More
Balance Transfer Intro APR 0%*
Balance Transfer Intro Period 21 months on Balance Transfers*
Balance Transfer Fee Balance transfer fee applies with this offer 3% of each balance transfer; $5 minimum.
Purchase APR 11.99% - 21.99%* Variable
Annual Fee $0*
APPLY NOW Credit Needed Excellent
NFL Extra Points Credit Card
About Our Ratings

NFL Extra Points Credit Card

  • Earn 10,000 bonus points after $500 in purchases in the first 90 days, enough to redeem for a $100 cash back statement credit
  • 0% promotional APR for 6 months on ALL ticket purchases from a team ticket office. After that, a variable APR currently 14.99%, 19.99% or 24.99%, based on your credit worthiness
  • Earn 2 points per $1 on NFL or team purchases - game tickets, in-stadium and at team Pro Shops - and 1 point per $1 on all other purchases
See More
Balance Transfer Intro APR 0% Intro APR on balance transfers
Balance Transfer Intro Period for 15 months*
Balance Transfer Fee 3%, Minimum $5
Purchase APR 14.99%, 19.99% or 24.99%* Variable
Annual Fee $0
APPLY NOW Credit Needed Average/Fair
Barclaycard<sup>®</sup> Ring MasterCard<sup>®</sup>
About Our Ratings

Barclaycard® Ring MasterCard®

  • No Balance Transfer Fees - start saving immediately!
  • A low 8% variable APR on balance transfers and purchases
  • No Annual Fees
See More
Balance Transfer Intro APR N/A
Balance Transfer Intro Period N/A
Balance Transfer Fee None
Purchase APR 8% Variable
Annual Fee $0
APPLY NOW Credit Needed Excellent
Citi Simplicity<sup>®</sup> Card
About Our Ratings

Citi Simplicity® Card

  • 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 12.99% - 22.99% based on your creditworthiness.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • No late fees - EVER
See More
Balance Transfer Intro APR 0%*
Balance Transfer Intro Period 21 months on Balance Transfers*
Balance Transfer Fee Balance transfer fee applies with this offer 3% of each balance transfer; $5 minimum.
Purchase APR 12.99 - 22.99% Variable
Annual Fee $0*
APPLY NOW Credit Needed Excellent
Capital One<sup>®</sup> Card Finder Tool
About Our Ratings

Capital One® Card Finder Tool

  • Find card offers you may be eligible for without affecting your credit score
  • Get matched to features you want like low intro rates, cash back or miles, and more
  • See your card matches in less than 60 seconds
See More
Balance Transfer Intro APR See Terms
Balance Transfer Intro Period See Terms
Balance Transfer Fee See Terms
Purchase APR Various Rates 
Annual Fee See Terms
APPLY NOW Credit Needed N/A
PenFed Promise Visa<sup>®</sup> Card
About Our Ratings

PenFed Promise Visa® Card

  • No annual fee
  • No foreign transaction fee
  • No balance transfer fee
See More
Balance Transfer Intro APR 4.99% APR promotional balance transfer rate
Balance Transfer Intro Period Promotional balance transfer rate for 12 Months on transfers made between April 1, 2015 through June 30, 2015. After that, the APR for the unpaid balance and any new balance transfers will be 7.99% to 16.99% based on your creditworthiness and will vary with the market based on the Prime Rate. This transaction is subject to credit approval.
Balance Transfer Fee No balance transfer fee
Purchase APR 7.99% to 16.99% Variable APR when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate. 
Annual Fee $0
APPLY NOW Credit Needed Excellent
Credit Card Database

More about Balance transfer credit card offers

  • What are they?
  • What to look for?
  • Do I need good credit?
  • Tips on balance transfer offers

A balance transfer card is very much like any other credit card: You make monthly payments on the debt, but the credit card company charges you a reduced (often zero) rate of interest for a set period of time. Once that time is up, you'll start paying interest on any remaining debt until the debt is fully paid.

The main feature of balance transfer cards is that the initial low interest rate is applied only to debt that is transferred from another credit card. You can use the balance transfer cards for future purchases; some cards offer reduced or zero introductory APR for a limited time for new purchases as well. While most cards charge a fee for a transfer, typically 3 to 5 percent of the balance transferred, a rare few cards either do not charge this fee or have introductory offers with no balance transfer fee or a reduced balance transfer fee for a specified period of time.

The most important part of choosing a balance transfer offer is figuring out how long it will take you to pay off your balance. A credit card payoff calculator can be a big help when you are comparing balance transfer offers.

Here's what you need to compare:

  • Introductory APR
  • How long the introductory period lasts
  • The fee to make the transfer, if any
  • Interest rate for new purchases and for the remaining balance after the introductory period ends

The longer you can keep a low or zero introductory APR, the better the card offer. First, you need to decide how much you can afford to pay toward your credit card each month. For example, if you know you can pay off your balance within 12 months, then you can want to make sure you are comparing balance transfer offers that have a promotional period of at least 12 months.

Check your free credit report before applying for a balance transfer credit card. Even though balance transfer offers seem like a great idea if you're struggling with debt, credit card issuers typically require you to have excellent to good credit when you apply.

If your credit history has a few spots on it, you may need to spend a few months improving your credit score by making on-time payments and reducing your credit card debt before you can qualify for a balance transfer card.

When you apply for a balance transfer, you should carefully calculate how much you will need to pay each month in order to eliminate the balance entirely before the promotional period ends.

For example, if you transfer $2,000 to a credit card with zero percent APR for 12 months and a balance transfer fee of 3 percent, you will need to pay $172 per month to pay off the balance (plus the $60 transfer fee) within 12 payments.

Be careful not to rack up more credit card debt on your old card after you transfer your balance. It can be tempting to spend more if you have a credit card with a few thousand dollars of available credit, but this will put you in a worse position because you will now have two credit cards to pay off instead of one.

To truly benefit from a low introductory rate balance transfer, you need to be disciplined enough to continue making regular payments that are large enough to pay off your credit card debt in full before the promotional period expires. You may be tempted to pay less when you see the minimum payment drop along with your balance, but don't let that temptation sway you from your goal of reducing or eliminating your credit card debt.