High-interest credit card debt can make it difficult to make meaningful progress on your balance. A balance transfer credit card can give you a temporary 0% APR period, allowing more of your payments to go toward reducing the debt instead of interest.
The best offers currently provide up to 21 months of 0% intro APR on balance transfers. But the longest promotional period is not automatically the best choice. Transfer fees, the deadline for completing the transfer and the regular APR after the promotion all matter.
When comparing the best balance transfer credit cards, it is important to look beyond the promotional period and consider the full cost of moving your debt.
What Makes a Great Balance Transfer Card?
The right card depends on how much debt you need to transfer and how quickly you can repay it.
Length of the 0% APR Period
A longer promotional period gives you more time to reduce your balance before the regular APR applies.
Some of the strongest current offers provide 21 months of 0% intro APR, while other cards offer 18 or 15 months.
The key is to match the promotional period to your repayment plan rather than simply choosing the card with the longest offer.
Balance Transfer Fees
A 0% APR offer does not necessarily mean a free balance transfer.
Many cards charge a percentage of the amount transferred. For example, the Citi Double Cash currently charges an introductory fee of 3% or $5, whichever is greater, for transfers completed within the first four months.
A 5% fee on a $5,000 transfer would add $250 to your balance.
Credit Limit
Your credit limit determines how much debt you can actually move to the new card.
Even if a card advertises a long 0% period, you may not receive a large enough credit limit to transfer your entire balance. The transfer amount, including applicable fees, also needs to fit within the available credit.
Regular APR After the Promotion
The 0% period eventually ends.
If you still have a balance at that point, the card’s regular variable APR will apply. Check this rate before applying, especially if your repayment plan leaves little room for delays.
Top Balance Transfer Cards by Promotional Period
| Card | 0% Balance Transfer Period | Transfer Deadline | Transfer Fee | Annual Fee |
|---|---|---|---|---|
| U.S. Bank Shield Visa | 21 billing cycles | See offer terms | See offer terms | $0 |
| Citi Diamond Preferred | 21 months | 4 months | 3% intro fee* | $0 |
| BankAmericard | 21 billing cycles | 60 days | 5% | $0 |
| Citi Simplicity | 18 months | 4 months | 3% intro fee | $0 |
| Citi Double Cash | 18 months | 4 months | 3% intro fee | $0 |
| Chase Freedom Unlimited | 15 months | See offer terms | Fee applies | $0 |
| Blue Cash Everyday | 15 months | 60 days | Fee applies | $0 |
| Capital One Quicksilver | 15 months | See offer terms | 3% during promotional period | $0 |
*The Citi Diamond Preferred currently advertises a 3% introductory fee for qualifying transfers completed within the first four months; the fee increases to 5% afterward.
Offer terms can change, so check the issuer’s current terms before applying.
21-Month 0% APR Options
U.S. Bank Shield Visa Card
The U.S. Bank Shield Visa Card currently offers 0% intro APR on purchases and balance transfers for 21 billing cycles. It has no annual fee and also includes benefits such as cell phone protection and access to a U.S. Bank balance transfer calculator.
This is a strong option for someone who wants a long promotional period without an annual fee.
Citi Diamond Preferred Card
The Citi Diamond Preferred Card offers 0% intro APR on balance transfers for 21 months. Transfers must be completed within four months of opening the account. The card has a $0 annual fee and currently offers a 3% introductory balance transfer fee, with a $5 minimum.
It is particularly focused on debt repayment rather than earning rewards.
BankAmericard
The BankAmericard currently offers 0% intro APR for 21 billing cycles on balance transfers made within the first 60 days of opening the account. It has no annual fee, but the current balance transfer fee is 5%.
The card can be a straightforward choice for someone who wants a long introductory period without a rewards program.
18-Month 0% APR Options
Citi Simplicity Card
The Citi Simplicity currently offers 0% intro APR for 18 months on balance transfers and purchases. Transfers must be completed within the first four months, and Citi currently lists a 3% introductory balance transfer fee, with a $5 minimum.
The card has no annual fee and is designed more around managing debt than earning rewards.
Citi Double Cash
The Citi Double Cash offers 0% intro APR for 18 months on balance transfers completed within the first four months of opening the account. The introductory transfer fee is 3%, with a $5 minimum.
Unlike Citi Simplicity, the Double Cash also offers an ongoing rewards structure, making it potentially more useful after the balance has been paid down.
15-Month 0% APR Options
Chase Freedom Unlimited
The Chase Freedom Unlimited offers 0% intro APR for 15 months on purchases and balance transfers. It has a $0 annual fee and offers cash back, including 1.5% on general purchases, 3% on dining and drugstores, and 5% on travel purchased through Chase Travel.
This makes it more attractive if you want rewards after dealing with your transferred balance.
Blue Cash Everyday from American Express
The Blue Cash Everyday Card currently offers 0% intro APR on purchases and balance transfers for 15 months. It has no annual fee and earns 3% cash back at U.S. supermarkets, U.S. gas stations and U.S. online retail purchases, subject to the stated annual category limits.
It can make sense for someone who wants a balance transfer option combined with everyday rewards.
Capital One Quicksilver
The Capital One Quicksilver currently offers 0% intro APR on purchases and balance transfers for 15 months. The card has no annual fee and earns unlimited 1.5% cash back on purchases. Capital One currently lists a 3% transfer fee for amounts transferred within the promotional period.
It is another option for someone who wants to combine debt repayment with a simple cash-back structure.
How to Choose the Right Balance Transfer Card
When comparing the best balance transfer credit cards, consider the total cost of the transfer and whether the promotional period gives you enough time to repay the debt.
Calculate the Transfer Cost
Start with your current balance and calculate the transfer fee.
For example, transferring $5,000 with a 3% fee would add $150 to the balance. A 5% fee would add $250.
Then compare that cost with the interest you would otherwise pay on your existing card.
Match the Term to Your Debt
Divide the amount you need to repay by the number of months in the promotional period.
If you transfer $6,000 to a card with 18 months of 0% APR, you would need to pay about $334 per month, before considering the transfer fee.
This gives you a more realistic idea of whether the offer fits your budget.
Consider the Transfer Deadline
The 0% offer only applies if you complete the transfer within the issuer’s specified window.
For example, Citi currently gives qualifying cardholders four months to complete transfers on several of its balance transfer cards, while BankAmericard specifies 60 days.
Do not assume that the promotional APR applies to a transfer made months after opening the account.
Check Whether Your Debt Is Eligible
Balance transfers generally move debt from another creditor to the new card.
For example, Citi states that its balance transfers cannot be used to move balances from another Citi account or its affiliates.
Check the issuer’s terms before applying, particularly if you have multiple cards from the same financial institution.
What Credit Score Do You Need?
The strongest balance transfer offers are generally aimed at consumers with good or excellent credit, although each issuer uses its own approval criteria.
Your credit score is only one part of the application. Issuers can also consider income, existing debt, payment history and other information in your credit profile.
Applying for a new card can also result in a hard credit inquiry, which may temporarily affect your score. Citi notes that opening multiple balance transfer cards within a short period can make future approvals more difficult.
For that reason, avoid applying for several cards at once simply because they advertise 0% APR.
Common Balance Transfer Mistakes to Avoid
Continuing to Add New Debt
Moving a balance does not eliminate the debt.
If you transfer $5,000 and then continue spending heavily on other cards, you can end up with the same problem in multiple accounts.
Missing Payments
A 0% APR offer does not mean you can skip minimum payments.
Continue making at least the required payment every month and consider setting up automatic payments.
Waiting Until the End of the Promotion
Do not wait until the final month to check your remaining balance.
Calculate your required monthly payment at the beginning and track your progress throughout the promotional period.
Assuming 0% Means No Fees
The transfer fee is often the largest upfront cost. Include it when comparing offers rather than looking only at the promotional APR.
What Happens When the 0% APR Period Ends?
Any remaining promotional balance generally becomes subject to the card’s applicable regular APR after the introductory period.
That is why the goal should be to eliminate as much of the transferred debt as possible before the promotion expires.
If you still have a significant balance near the end, review your options early rather than waiting until interest starts accumulating.
Alternatives to Balance Transfer Cards
A balance transfer is not the only way to address high-interest debt.
Debt Consolidation Loan
A personal loan can combine multiple debts into one fixed-payment loan. It may be worth considering if the interest rate and fees are lower than what you currently pay.
Debt Management Plan
A nonprofit credit counseling agency may help create a debt management plan and negotiate with creditors. This is different from taking out another credit card and may be useful when managing several debts.
Paying Down Existing Cards
If your current interest rate is manageable and you can eliminate the balance quickly, opening another account may not be necessary. Compare the potential savings with the transfer fee and the effect of applying for a new card.
Final Thoughts
The best balance transfer credit cards currently offer up to 21 months of 0% intro APR, giving eligible cardholders substantial time to reduce high-interest debt.
But the longest offer is not always the cheapest. Compare the transfer fee, deadline, regular APR and credit limit alongside the promotional period.
Most importantly, have a repayment plan before moving the balance. The real benefit comes from using the 0% period to reduce the debt rather than simply moving it from one card to another.
Frequently Asked Questions
Can I transfer a balance from one card to another from the same bank?
Often, no. Many issuers restrict transfers between their own cards or affiliated accounts. Citi, for example, does not allow transfers from Citi or affiliated accounts.
Does a balance transfer close my old credit card?
No. Transferring a balance does not automatically close the original account. You can generally keep the card open, although whether you should close it depends on your broader credit situation.
Can I transfer more than one credit card balance?
Yes, when the new issuer allows it and your available credit is sufficient. You can request transfers from multiple eligible accounts, subject to the card’s terms and limits.
Can I use a balance transfer card for new purchases?
Some cards offer 0% APR on both purchases and balance transfers, while others have different promotional periods. Do not assume that purchases receive the same terms as transferred balances.
What should I do if I cannot pay the balance before the 0% period ends?
Review your remaining balance and financial options before the promotional period expires. Depending on your situation, you may be able to increase your payments, consider a different debt-repayment strategy or compare another form of consolidation. Avoid assuming that another balance transfer will always be available.