Being able to improve your credit score from good/very good (670-799) up to excellent (800 and over) can have a major impact on your ability to secure a mortgage or car loan at an interest rate that won’t cripple your monthly budget.
Getting there requires, among other things, shrewdly managing your existing debt and working to reduce your debt load. An excellent tool in this regard is a credit card with a strong introductory balance transfer offer. The right card will allow to transfer your balance and pay 0% APR on the transferred amount, thereby saving you from accruing interest and. Additionally, assuming you opened a new card to take advantage of such an offer, you’ll also improve your credit utilization.
Bottom line: 0% percent interest will put you in a much better position to pay down the premium during the promotional period.
You want a card that offers the 0% APR for as long as possible and one that charges a low (ideally $0) balance transfer fee. You will also be looking for a card that has a low annual fee, a reasonable standards APR and that will fit long-term into your credit card plans.
Our editors have compiled a list of balance transfer credit cards for people with good credit.
Best balance transfer cards for good credit
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Frequently asked questions
Are balance transfer credit cards a good idea if you have good credit?
Yes, balance transfer credit cards can be an excellent idea if you have good credit. Good credit scores typically unlock access to the best offers, including longer 0% introductory APR periods (often 12-21 months), which means more of your payments go directly to the principal debt instead of interest. This allows for faster debt payoff, potential interest savings that outweigh transfer fees, and can even improve your credit utilization ratio by increasing your overall available credit. However, it’s crucial to have a disciplined plan to pay off the transferred balance before the introductory period ends and to avoid incurring new debt on any cards.
What credit score is needed to qualify for a balance transfer card with 0% APR?
To qualify for a balance transfer card with a 0% introductory APR, you generally need a good to excellent credit score. This typically means a FICO score of 670 or higher. While some cards might be available for those with fair credit (580-669), the 0% APR periods are often shorter, and the balance transfer fees might be higher. The best offers with the longest 0% APR periods usually require excellent credit (740+).
Do balance transfers hurt your credit score if you already have good credit?
While transferring a balance itself doesn’t directly harm your credit score, applying for a new balance transfer card often causes a small, temporary dip. This is due to a hard inquiry on your credit report and a slight reduction in the average age of your credit accounts. However, for those with good credit, the long-term benefits typically outweigh this short-term effect. By reducing your credit utilization (the percentage of your available credit that you’re using) and consistently making on-time payments on the new card, a balance transfer can ultimately lead to an improved credit score.
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