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Best balance transfer cards of July 2020

CardRatings editors reviewed the best balance transfer credit cards to find the best terms, rates and features to help you meet your debt consolidation goals. From rewards, to long intro periods to the best ongoing rates and even cards for people with fair credit, take a look at our picks for the best balance transfer cards.
Brooklyn Lowery, CardRatings Senior Manager Last Updated, July 1, 2020

Our credit card articles, reviews and ratings maintain strict editorial integrity; however we may be compensated when you click on or are approved for offers (terms apply) from our partners. How we make money.

best balance transfer cards 2020If you find yourself drowning in interest charges every month, or planning ahead and knowing there's a big expense on the horizon you'd like a little extra time to pay off, you could be a prime candidate for a balance transfer credit card. That is, a card that offers a low or even 0% APR for an introductory period of time on balances you transfer to that card from another credit card. The best balance transfer credit cards from our partners offer opportunities to pay lower or no interest over a period of time, allowing you to pay off your debt more quickly and for less. In some cases, they also offer rewards as well as other perks and features.

LIST OF WINNERS

We understand how frustrating it is when you're staring down a credit card bill that you can't pay off in one month. Yet alone how it feels when you factor in the interest charges you'll be accruing. Not all balance transfer credit card offers are alike. Our editors have reviewed current offers and selected the best balance transfer credit card options available. Start off your new year with a clean slate by reviewing our choices below and selecting a card that best meets your needs:

BEST BALANCE TRANSFER CREDIT CARDS WITH REWARDS

5
About Our Ratings

Why we like it: This card offers an excellent introductory balance transfer offer, plus a simple and potentially lucrative cash-back rewards program. Plus, the way the rewards earning is structure encourages responsible credit card use and payment. There's a lot to like about this no-annual-fee card.

Intro balance transfer APR: 0% for 18 months from account opening (Citi is a CardRatings advertiser)

Regular purchase and balance transfer APR: 13.99% – 23.99% (Variable)

Rewards: Earn 1% back on every purchase and then earn another 1% back when you pay at least the minimum amount due on your bill each month, on time. That effectively means that you can earn 2% cash back on every purchase and this rewards-earning format encourages responsible credit card use as well, which we definitely like.

Balance transfer fees: 3% of each balance transfer; $5 minimum.

Annual fee: $0

Credit needed: Excellent

PROS:

  • This card offers a 0% intro APR on balance transfers for the first 18 months (then, 13.99% – 23.99% (Variable)), which is one of the longest duration balance transfers offers available on a card that earns rewards.
  • In addition to 18 months of 0% intro APR on balance transfers, this card offers 1% cash back on your purchases and another 1% when you pay for your purchases.
  • There are no specific spending categories for earning rewards with this card. The total 2% possible cash back you earn is one of the highest flat rates available.

CONS:

  • Although it offers one of the longest intro APRs for balance transfers, there is not a 0% intro APR offer for purchases. So, while you can save money on interest if you need to transfer a balance, you will not if you need to make a large purchase.
  • There is a balance transfer fee of 3% of each balance transfer; $5 minimum, which is on par with or a little lower than other cards' balance transfer fees, but you will still need to add this cost to determine if the balance transfer is worth it.
  • Although there is no annual fee for this card, there is a foreign transaction fee which can cost you if you need to use the card for purchases outside of the U.S.

Read our full Citi® Double Cash Card - 18 month BT offer review.

Wells Fargo Cash Wise Visa® card

(This card is not currently available on CardRatings)
5
About Our Ratings

Why we like it: This is another excellent opportunity to earn rewards and take advantage of a nice introductory 0% offer on balance transfers and purchases. This card also offers the added perk of cellular phone insurance when you pay your mobile bill with the card.

Intro balance transfer APR: 0% for 15 months on qualifying balance transfers

Intro purchase APR: 0% for 15 months

Regular purchase and balance transfer APR: 13.99%-25.99% Variable

Rewards: For starters, new cardholders can earn an introductory cash-back bonus of $150 once spending $500 in the first three months of card membership. And this isn't the only bonus. New cardholders can also enjoy a rewards earning rate of 1.8% cash back for the first 12 months on qualifying digital wallet purchases such as those with Google Pay™ or Apple Pay®. Otherwise, the earning rate is 1.5% on all purchases (as well as when the introductory period is over). And finally, when using the card to pay a cellular bill, users can get up to $600 in cell phone protection (subject to a deductible) against covered damage and theft.

Balance transfer fees: 3% for 120 days, then 5%

Annual fee: $0

Credit needed: Excellent, Good

PROS:

  • If you need to transfer a balance from a card with a higher APR, this one offers an intro 0% APR for 15 months on qualifying balance transfers (then, 13.99%-25.99% Variable).
  • You also get an introductory 0% APR on purchases for 15 months if you need to make and then pay off a large purchase.
  • This card also offers a cash-back bonus of $150 after you spend $500 in the first three months. You can also earn 1.8% cash back on qualified Google Pay™ or Apple Pay® purchases for your first 12 months. Other purchases as well as digital wallet purchases made after the intro period earn 1.5% cash back.

CONS:

  • The balance transfer fee is 3% for 120 days, then 5%.
  • There is no annual fee but there are foreign transaction fees to consider.
  • You can earn 1.8% cash back on qualifying purchases made with a digital wallet, but only for your first 12 months. Otherwise, your purchases only earn 1.5% cash back. That's pretty standard for a flat-rate cash-back card, but you could earn more with some strategy and a tiered or rotating categories card.

Read our full Wells Fargo Cash Wise Visa® card review.

Capital One® SavorOne® Cash Rewards Credit Card

(This card is not currently available on CardRatings)
5
About Our Ratings

Why we like it: This card rewards all things dining with rewards geared toward dining out and purchasing groceries to, presumably, dine in. It does it alongside a nice intro balance transfer offer and all of this comes with no annual fee.

Intro balance transfer APR: 0% for 15 months from account opening

Intro purchase APR: 0% for 15 months from account opening

Regular purchase and balance transfer APR: 15.49% - 25.49% (Variable)

Rewards: Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores, and 1% on all other purchases. Plus, new cardholders can earn a one-time $150 cash bonus after spending $500 on purchases within the first three months from account opening.

Balance transfer fees: A 3% fee on the amounts transferred within the first 15 months.

Annual fee: $0

Credit needed: Excellent, Good

PROS:

  • We love a card that rewards your love of food. Earning an unlimited 3% cash back on your dining and entertainment purchases is just right for the foodies out there. Plus you'll also rake in 2% cash back at grocery stores and 1% cash back on your other purchases.
  • Spend just $500 in your first three months as a cardholder and you'll earn a $500 cash bonus.
  • This card doesn't charge foreign transaction fees, a relative rarity among cash-back cards, so feel free to take it along for your next international culinary adventure.

CONS:

  • If you want to take advantage of the balance transfer offer, don't forget to account for the balance transfer fee.
  • If your goal is top rewards when dining out and not so much a balance transfer offer, you could earn 4% cash back on your dining and entertainment purchases with this card's big brother, the Capital One® Savor® Cash Rewards Credit Card which does charge an annual fee of $0 intro for first year; $95 after that, but that could be well worth it since you earn 4% on dining and entertainment, 2% at grocery stores and 1% on your other purchases.

Read our full Capital One® SavorOne® Cash Rewards Credit Card review.

Bank of America® Cash Rewards credit card

(This card is not currently available on CardRatings)
5
About Our Ratings

Why we like it: Options can be a credit cardholders best friend and this card has lots of them. From choosing the category in which you'll earn top rewards (from among a list of six possibilities) to deciding whether to take advantage of a lengthy introductory balance transfer or purchase 0% APR, cardholders have some great decisions to make.

Intro balance transfer APR: 0% for 15 billing cycles on balance transfers made in the first 60 days

Intro purchase APR: 0% for 15 billing cycles

Regular purchase and balance transfer APR: See Terms and balance transfers

Rewards: In addition to a 0% intro APR period, what's great about this card is that it allows you to earn bonus cash back in the category of your choice. Earn 3% cash back in one of the following six categories: gas, online shopping, dining, travel, drug stores or home improvement/furnishings. You choose which category depending on where you spend the most money. Additionally, earn 2% back at grocery stores and wholesale clubs up to $2,500. You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then 1%, as well as 1% on all other purchases. What's more, there's a $200 online cash rewards bonus for new cardholders who spend $1,000 on purchases in the first 90 days of opening an account.

Balance transfer fees: Either $10 or 3% of the amount of each transaction, whichever is greater.

Annual fee: $0

Credit needed: Excellent

PROS:

  • The best category for many people with this card is going to be online shopping. That means you could earn 3% cash back on everything from medical bills you pay online to Amazon purchases to Paypal purchases (up to $2,500 in combined choice category/grocery store/wholesale club purchases quarterly).
  • If you happen to be Preferred Rewards client with Bank of America, you'll earn 25%-75% more on every purchase depending on your Preferred Rewards tier (tiers are based on total account balances).
  • New cardholders can earn a $200 online cash rewards bonus after making at least $1,000 in purchases within the first 90 days.

CONS:

  • You'll probably want to leave this card at home if you travel abroad as it does charge foreign transaction fees.
  • While the rewards earning potential is great, don't forget to keep an eye on your quarterly spending. Once you hit $2,500 combined spending in your choice category/grocery stores/wholesale clubs, your earning drops to 1% until the next quarter.
  • Choosing your 3% category is great, but you can only change it once a calendar month. You'll need to plan ahead a bit to maximize your earning.

Read our full Bank of America® Cash Rewards credit card review.

BEST BALANCE TRANSFER CARDS WITH A LONG INTRO PERIOD

5
About Our Ratings

Why we like it: Having a year and a half to pay off a balance transfer without paying interest is an incredible offer, not to mention one that could save you BIG money.

Intro balance transfer APR: 0% for 18 months from date of first transfer (all transfers must be completed within the first four months)

Intro purchase APR: 0% for 18 months

Regular purchase and balance transfer APR: 14.74% - 24.74% Variable

Rewards: While there aren't traditional rewards available with this card, cardholders do have special access to event tickets as well as additional perks, features and protections.

Balance transfer fees: 3% of each balance transfer; $5 minimum

Annual fee: $0.

Credit needed: Excellent

PROS:

  • This card offers among the longest 0% intro APRs out there at 18 months from the date of the first transfer, with all transfers being completed within your first four months. After the intro, the APR goes to 14.74% - 24.74% Variable.
  • You can also get a 0% intro APR for 18 months on purchases (then, 14.74% - 24.74% Variable), which gives plenty of time to pay off new purchases. 
  • You also get benefits like special access to events as well as other card features and protections.

CONS:

  • The balance transfer fee is 3% of each balance transfer; $5 minimum.
  • There is no annual fee, but there are foreign transaction fees to think about if you are looking for a card to use while traveling abroad.
  • This card does not offer any rewards or bonuses. If you can pay down your balance in less than 18 months, you might be able to save on interest and earn cash back or rewards with a different credit card that offers a shorter balance transfer period.

Read our full Citi® Diamond Preferred® Card review.

Wells Fargo Platinum card

(This card is not currently available on CardRatings)
5
About Our Ratings

Why we like it: While the intro period is a bit shorter than others on this list, it's still quite generous and this card offers an unusual additional perk: cellular phone insurance.

Intro balance transfer APR: 0% for 18 months on qualifying transfers

Intro purchase APR: 0% for 18 months

Regular purchase and balance transfer APR: 15.49%-24.99% Variable

Rewards:  This card doesn't offer rewards unless you consider that solid introductory period to be a reward. What it does offer, however, is cellular phone protection when you pay your mobile bill with your card. That could save you some decent money each year.

Balance transfer fees: 3% for 120 days, then 5%

Annual fee: $0

Credit needed: Excellent, Good

PROS:

  • If you're looking to save on interest charges from an existing credit card balance, you'll appreciate this card's intro 18 no interest on qualifying balance transfers (the, 15.49%-24.99% Variable).
  • You can also take advantage of that same year-and-a-half (18 months) introductory 0% APR on purchases (then, 15.49%-24.99% Variable).
  • Pay your mobile bill with the card and you'll be protected against covered damage and theft thanks to included cellular phone protection (terms and deductibles apply).

CONS:

  • Don't forget to account for the balance transfer fee or 3% for 120 days, then 5%.
  • Be aware should you choose to take this card on an international trip that you will pay foreign transaction fees.
  • This isn't a rewards card – if you don't need the intro 0% offers, you might be better off with a card that earns rewards.

Read our full Wells Fargo Platinum card review.

Citi Simplicity® Card - No Late Fees Ever

(This card is not currently available on CardRatings)
5
About Our Ratings

Why we like it: Another excellent long-term introductory balance transfer option with a healthy 0% intro APR for purchases as well.

(This card is not currently available on CardRatings)

Intro balance transfer APR: 0% for 21 months from date of first transfer (all transfers must be completed within the first four months)

Intro purchase APR: 0% for 12 months from date of account opening

Regular purchase and balance transfer APR: 14.74% - 24.74% (variable), based on creditworthiness

Rewards:  As with most cards focused on 0% intro APR periods, there aren't traditional rewards here. There is, however, that reward of extra money in your pocket since you're saving on interest charges while you get yourself out of debt. Plus, there are no late fees ever with this card. Curious how much money you could save? Check out our "How much can I save?" calculator to find out.

Balance transfer fees: 5% of each balance transfer; $5 minimum.

Annual fee: $0

Credit needed: Excellent, Good

PROS:

  • This card offers a 0% intro APR for 21 months from the date of the first transfer, with all transfers being completed within your first four months (then, 14.74% - 24.74% (variable), based on creditworthiness).
  • You also get a 0% intro APR for 12 months on purchases (then, 14.74% - 24.74% (variable), based on creditworthiness).
  • There are no late fees, though, of course, if you're looking to pay off debt, you absolutely want to make your payments on time, every time.

CONS:

  • There’s a balance transfer fee to consider of 5% of each balance transfer; $5 minimum..
  • There is no annual fee but there are foreign transaction fees.
  • There are no extra cash rewards or signup bonuses offered with this card. It is primarily for transferring a balance and paying it off to save interest.

Read our full review of the Citi Simplicity® Card - No Late Fees Ever.

BankAmericard® credit card

(This card is not currently available on CardRatings)
EditorRating
About Our Ratings

Why we like it: A stellar intro 0% APR offer on both purchases and balance transfers makes this card a top pick for us.

Intro purchase and balance transfer APR: 0% APR for your first 18 billing cycles on purchases and for any balance transfers made within the first 60 days of opening an account

Regular purchase and balance transfer APR: See Terms

Rewards: No penalty APR. Paying late won't automatically raise your APR, like with so many other credit cards.

Balance transfer fees: Either $10 or 3% of the amount of each transaction, whichever is greater.

Annual fee: $0

Credit needed: Excellent/Good

PROS:

  • Take advantage of an introductory 18 billing cycles no interest on purchases and balance transfers made within the first 60 days (then, See Terms).
  • This card doesn't charge a penalty APR, so paying late won't automatically raise your APR (terms apply).
  • Since this card doesn't charge an annual fee, it's a good one to keep around as a card to increase your available credit and the length of your credit history.

CONS:

  • This card is primarily about that intro 0% APR offer – you won't earn rewards or a signup bonus.
  • Should you take advantage of the excellent balance transfer opportunity, be sure to account for the balance transfer fee of either $10 or 3% of the amount of each transaction, whichever is greater.

Read our full BankAmericard® credit card review.

BALANCE TRANSFER CARDS WITH THE BEST ONGOING RATES

5
About Our Ratings

Why we like it: A card that doesn't charge balance transfer fees is rare these days, which is why this one made our list. While it doesn't offer a introductory 0% period, it's ongoing APR is much lower than most other cards offer, so you could still stand to save some money if you're already paying high interest on an existing card balance.

Intro balance transfer APR: This card doesn't offer a 0% period for balance transfers, but it does offer a consistently low ongoing APR of 8.25% variable.

Regular purchase and balance transfer APR: 8.25% variable

Rewards:  With an APR this low, you would likely still be saving yourself a significant amount of money if you transferred a balance to this card. Plus, there are never balance transfer fees to worry about.

Balance transfer fees: None.

Annual fee: None

Credit needed: Excellent

PROS:

  • Balance transfer fees generally run in the neighborhood of 3% to as high as 5% of each transfer; you don't have to worry about that with this card, though, as it doesn't charge balance transfer fees.
  • The low ongoing APR of 8.25% variable means that you can take the time you need to pay off your balance and know you'll be paying much less in interest than you would with most any other card.
  • Using this card means you'll have access to behind-the-scenes perks like rental car insurance and travel accident insurance.

CONS:

  • Apart from the low ongoing APR, this card is pretty basic. You won't earn rewards or a signup bonus.
  • While there isn't an annual fee with this card, it does charge foreign transaction fees.
  • In order to keep the interest rates so low, this bank is selective when it comes to credit card applicants. Only those with truly excellent credit should apply.

Read our full Simmons Visa® review.

BEST BALANCE TRANSFER CARDS WITH NO FOREIGN TRANSACTION FEES

Capital One® Quicksilver® Cash Rewards Credit Card

(This card is not currently available on CardRatings)
5
About Our Ratings

It's not terribly common to find a card with an intro 0% period for balance transfers and purchases, that doesn't charge foreign transaction fees AND that offers rewards. This card is all those things.

Intro balance transfer APR: 0% for 15 months from account opening

Intro purchase APR: 0% for 15 months from account opening

Regular purchase and balance transfer APR: 15.49% - 25.49% (Variable) once the intro period is over.

Rewards: Earn 1.5% cash back on all purchases made, with no spending caps or categories to worry about. New cardholders can also earn a $150 bonus after spending $500 within the first three months of opening an account, and there's no extra cost to use this card outside of the U.S. thanks to no fees on foreign transactions.

Balance transfer fees: 3%

Annual fee: $0

Credit needed: Excellent, Good

PROS:

  • A nice, consistent 1.5% cash back on all your purchases makes this an easy card to carry.
  • With no foreign transaction fees, this card would make for an excellent traveling companion on your next trip abroad.
  • Earn a $150 bonus after you spend just $500 in the first three months.

CONS:

  • While it does offer an intro 0% APR on purchases and balance transfers, the period is relatively short at just nine months. If you need longer, you'll want to look for a different card.
  • Don't overlook the balance transfer fee if you do take advantage of the intro 0% offer.

Read our full Capital One® Quicksilver® Cash Rewards Credit Card review.

WHAT IS A BALANCE TRANSFER?

So, exactly what does balance transfer mean for credit cards?

In short, a balance transfer is when you transfer your debt (or balance) from one credit card to another.

Usually, people transfer balances from a credit card with a higher APR to one with a lower APR and/or to a card with a 0% introductory APR offer. By making a balance transfer, you’re giving yourself more time to pay off the debt interest-free (if there’s an introductory 0% APR offer), or at a lower interest rate.


WHAT HAPPENS WHEN YOU TRANSFER A BALANCE ON CREDIT CARDS?

Balance transfer credit cards can be a great tool for someone who is burdened by high-interest credit card debt and is having difficulty getting ahead on payments so that the balance is paid off.

While it may be difficult to qualify for a balance transfer credit card that features a $0 transfer fee, depending on how high your current balance is, it might be worth paying a transfer fee to get a zero or low introductory APR for a long period of time.

For example, if your current APR is 17%, you pay more than $1,800 in interest on a $10,000 balance over the course of one year. It may be worth paying between $100 and $300 as a balance transfer fee if you can be disciplined and apply as much as possible to reducing your $10,000 balance during a 15-month or longer zero-interest period.

Before you make any of those decisions though, you need to be sure you understand the ins and outs of balance transfer credit cards and the deals they offer. For a full description (which we recommend you peruse before applying), check out our Balance Transfer Credit Cards 101 page. If you want just the basics, read below.


HOW DO BALANCE TRANSFERS WORK?

When you successfully obtain a balance transfer credit card, you are approved to pay off existing credit card debt using your new card, up to an approved limit.

There may or may not be a balance transfer fee (commonly between 3-5% of the balance transferred), and there is often an introductory period where low- or 0% interest is charged on the balance you have transferred.

After the introductory period expires, a higher interest rate applies to your balance. Using a balance transfer credit card successfully requires paying off as much debt as possible during the low introductory APR period.

WHAT IS A BALANCE TRANSFER FEE?

In addition to interest, balance transfer credit cards often include balance transfer fees. These fees are generally a percentage of the balance being transferred and commonly range from 3-5% of the amount transferred, although there are some zero-fee balance transfer cards available for people with excellent credit.

Review each balance transfer credit card offer carefully to determine what, if any, balance transfer fee applies and whether paying that fee will save you money in the long run.

CardRatings.com has developed several calculators so you can see what your monthly payment would be if you want to pay off your existing credit card debt within a specified time frame or how much you could save in interest by taking advantage of a balance transfer credit card offer.

Enter your existing credit card balance (the amount you want to pay off in full), you current interest rate, the interest rate on the card to which you want to transfer the balance and then take a look at how much you could save. There are a number of variables you can play with available within the calculators, so take some time to crunch the numbers and determine the best debt-payoff option for you.

If you're really worried about paying a balance transfer fee, consider a balance transfer credit card that offers a welcome bonus to new cardholders (in addition to a 0% APR period). Take the Capital One® Quicksilver® Cash Rewards Credit Card for example. It charges a 3% balance transfer fee, but it also awards new cardholders with a $150 cash-back bonus once spending $500 on purchases within the first three months of opening an account. This bonus is a nice way to cover or offset any fee you'd pay on balance transfers. The Bank of America® Cash Rewards credit card is another good example. It earns new cardholders who spend at least $1,000 in the first 90 days of opening an account a $200 online cash rewards bonus, which could go a long way towards offsetting its 3% balance transfer fee.

We don't recommend choosing a card specifically for its bonus, or taking this route if the spend threshold to receive the bonus is not achievable for you; however, considering all benefits of a card, not just the length of its 0% APR offer, is a smart way to ensure you're choosing the card that will best suit all of your needs.


HOW TO COMPLETE A BALANCE TRANSFER ONLINE

Card issuers provide options for completing balance transfers. In some cases, you may be able to complete a transfer over the phone or online, following your bank’s instructions. In many cases you can start the process of a balance transfer as soon as you are approved for the card online and before you even receive your physical card in the mail. Alternatively, your balance transfer credit card may also come with "checks" that you can use to pay off your existing credit card debt.

It is crucial to continue making the minimum payments on your original credit card(s) until your bank(s) report that your account(s) are paid off.


TIPS FOR CHOOSING THE BEST BALANCE TRANSFER CREDIT CARD

In our opinion, the best credit cards for balance transfers often include:

- Low introductory rates. Many cards offer a 0% intro APR on balance transfers, sometimes for a year or more, enabling the cardholder to make a serious dent in his/her balance without accruing additional interest.
- Fixed interest rates or discounted APR ranges. Although fixed APRs are almost impossible to find on general purpose credit cards these days, a few credit unions and regional banks promise to lock an interest rate for the life of your balance transfer. Most other lenders offer no-frills cards that trade bonus features and perks for variable APRs a few percentage points lower than the market average.
- Introductory or lowered balance transfer fees. While many banks charge processing fees that often range between 3-5%, certain offers can reduce or eliminate those fees, also cutting down the finance charges you'd pay over the life of your balance.

The cards on our list of the market's best balance-transfer deals possess some, if not all, of the aforementioned attributes. Let us know what you think about these selections by leaving a comment below.


MAKING THE MOST OF YOUR BALANCE TRANSFER CREDIT CARD

When credit card debt has built up, it can be difficult to dig out from under it, but it is definitely possible. In this section, we have prepared advice on how to successfully manage paying down debt by taking advantage of a balance transfer credit card.

Depending upon your credit score and the balance you are currently carrying, eliminating your existing credit card debt may vary in difficulty from "That barely stung!" to "That really hurt!" No matter where you begin, you should be able to achieve your objective with hard work and perseverance.

Research balance transfer credit card offers and locate one that appears to best fit your needs. We've summarized some of the best cards by category, but if you don't see what you're looking for, keep looking.

Set a time frame for eliminating your balance, determine the monthly payment required to achieve your goal and get started.

BALANCE TRANSFER PITFALLS TO AVOID

When you are working to pay off existing credit card debt, be careful to avoid making the following three mistakes:

- Taking on more credit card debt. Except for dire emergencies, try not to make any new charges to your credit card.
- Letting the low introductory APR period slide. During the low or zero-introductory APR period, pay down as much debt as you possibly can so your balance is as low as possible when the higher interest rate period begins.
- Missing a payment. Do not add to your credit difficulties by missing a payment, as you may become ineligible to continue your low introductory APR and your credit rating may suffer, making it increasingly difficult to obtain reasonable credit terms.


BALANCE TRANSFER VS. PERSONAL LOAN

When people are serious about eliminating debt, they may consider a balance transfer credit card or may apply for a personal loan. Which is better?

As with all other personal finance questions, it depends upon individual circumstances. Talk with a trusted financial adviser if you have questions about which option is better for you. If you do decide a personal loan is the way to go, you can compare multiple personal loan options through CardRatings' partner site, AmOne.

Disclaimer: The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

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