Best Balance Transfer Cards of April 2021

Our Top Picks for Long Balance Transfer Promotions and Reduced Fees

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The best balance transfer credit cards have extended interest-free promotions and may even reduce or eliminate transfer fees. If you’re paying off high-interest debt, using a balance transfer card that offers an introductory APR of 0% for at least a year can save you money and time. We’ve reviewed the latest offers and these are the best options available. Just keep in mind you can't transfer a balance between cards from the same financial institution.

Best Balance Transfer Cards of April 2021

Best Overall : Wells Fargo Platinum Card

Our Rating Among Balance Transfer Cards
4.8
Wells Fargo Platinum Card
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 16.49% - 24.49% variable
Annual Fee $0
Balance Transfer Fee Intro fee of 3% ($5 minimum) for the first 120 days your account is open, then 5% ($5 minimum).
INTRO BALANCE TRANSFER APR 0% for 18 Months
Intro Balance Transfer Fee Intro fee of 3% ($5 minimum) for the first 120 days your account is open
  • Why We Chose This Card
  • Pros & Cons
  • Highlights
Why We Chose This Card

Need a way to seriously cut debt costs while you pay it off? Open this card and transfer your high-interest card balances to it. It’s our top balance-transfer pick for several reasons, the most important of which is the 18-month-long 0% APR promotion on balance transfers and purchases. That’s a generous offer, and one of the very best on the market right now. You’ll pay a fee for each transfer, which is the norm, but this card drops its standard 5% fee down to 3% for the first 120 days, which is nice. 

Pros & Cons
Pros
  • Very long 0% APR offer

  • Promotional interest rate offer applies to purchases and balance transfers

  • Cell phone insurance perks add some long-term value

Cons
  • No rewards program

  • Balance transfer fee goes up 120 days after opening account

  • Ongoing APR may be above average, depending on your credit

Highlights
  • Low intro APR for 18 months from account opening on purchases and balance transfers.
  • $0 annual fee.
  • Account protection features such as $0 Liability protection for promptly reported unauthorized transactions, alerts, and cell phone protection.
  • My Money Map tools to help you manage spending and create a budget with ease.
  • Access to your FICO Credit Score with Wells Fargo Online.

Read full review of Wells Fargo Platinum Card

Runner-Up Best Overall : Citi Simplicity

Our Rating Among Balance Transfer Cards
4.7
Citi Simplicity®
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 14.74% - 24.74% variable
Annual Fee $0
Balance Transfer Fee Either $5 or 3% of the amount of each transfer, whichever is greater.
INTRO BALANCE TRANSFER APR 0% for 18 Months
  • Why We Chose This Card
  • Pros & Cons
  • Highlights
Why We Chose This Card

This card also boasts a generous 0% balance transfer APR promotion that lasts 18 months, but you’ll have 120 days after opening your account to make transfers that qualify for 0% APR. That gives you some time to make a debt repayment plan if you haven’t already. That said, the sooner you make a transfer, the more pressure you’ll take off your budget. Just like the card in our top spot, it offers a matching 0% purchase APR offer, which makes it easy to use this card in a couple of different ways without having to juggle two different APRs or offer periods. 

Pros & Cons
Pros
  • No annual fee

  • Offers 18 months to pay off balance transfers at 0% APR

  • No fees or penalty APR for late payments

Cons
  • Ongoing APR may be quite high compared to the competition

  • Foreign transaction fee makes using the card abroad more costly

Highlights
  • No late fees.
  • No penalty rate.
  • No annual fee.
  • Plus, get a low intro APR for 18 months on balance transfers and purchases.

Read full review of Citi Simplicity

Longest 0% APR Period on Transfers : U.S. Bank Visa Platinum Card

Our Rating Among Balance Transfer Cards
4.7
U.S. Bank Visa® Platinum Card
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 14.49% - 24.49% variable
Annual Fee $0
Balance Transfer Fee Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
INTRO BALANCE TRANSFER APR 0% for 20 Billing Cycles
  • Why We Chose This Card
  • Pros & Cons
  • Highlights
Why We Chose This Card

If you need even more time to spread out debt repayment, this is your card. It advertises the longest 0% balance transfer APR deal on the market right now, which lasts an incredible 20 months. Like many other cards on this list, the Platinum is pretty bare-bones, but it has all you need in the area that matters most for a balance-transfer card: saving money on interest costs. 

Pros & Cons
Pros
  • Long 0% APR offers

  • Cellphone protection

Cons
  • Few perks or bonuses

  • Limited value after the intro period ends

Highlights
  • 0% APR for 20 months on purchases and balance transfers
  • No annual fee

Read full review of U.S. Bank Visa Platinum Card

Best for Earning Rewards : Citi Rewards+

Our Rating Among Balance Transfer Cards
4.5
Citi Rewards+℠
Current Offer

Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening.

Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 13.49% - 23.49% variable
Annual Fee $0
Rewards Earning Rate Earn 2X ThankYou Points at supermarkets and gas stations for the first $6,000 per year and 1X points on all other purchases.
INTRO PURCHASE APR 0% for 15 Months
Foreign transaction fee (%) 3%
  • Why We Chose This Card
  • Pros & Cons
  • Highlights
Why We Chose This Card

We don’t encourage trying to earn rewards while simultaneously paying down transferred debt, but if you want a card that still offers some value after its balance transfer promotion ends, the Rewards+ is our recommendation. In addition to a competitive, 15-month-long 0% balance transfer and purchase APR deal, you’ll earn 2 points per $1 spent on gas and groceries (up to $6,000 in purchases each year), and 1 point per $1 spent on everything else. This no-annual-fee card also rounds up the rewards earned on each purchase to the nearest 10 point-increment, which is unique and quite generous. You’ll also get 10% of the first 10,000 points you redeem back in your account each year.

Pros & Cons
Pros
  • Automatic point-earning boost on all purchases

  • Competitive introductory 0% APR offers

  • For the first 100,000 points you redeem, you’ll get 10% of them back

  • No annual fee

Cons
  • Points-earning rate is low without extra rewards features

  • Lots of rewards program rules to learn

Highlights
  • The only card that automatically rounds up to the nearest 10 points on every purchase.
  • 2X at Supermarkets & Gas Stations for the first $6,000 per year and 1 point per $1 spent thereafter.
  • 10% Points Back for the first 100,000 ThankYou Points you redeem per year.
  • Shop with Points at Amazon.com or BestBuy.com or redeem for other great rewards.

Read full review of Citi Rewards+

Longest Promotional APR Period on Transfers : SunTrust Prime Rewards Credit Card

Our Rating Among Balance Transfer Cards
4.4
SunTrust Prime Rewards Credit Card
Current Offer

3 year introductory offer on eligible balance transfers at Prime Rate (currently 3.25% variable APR). Plus earn a $100 in statement credit after you spend $500 on qualifying purchases in the first 3 months after account opening.

Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 11.24% - 21.24% variable
Annual Fee $0
Rewards Earning Rate 1% cash back on all eligible purchases.
Foreign transaction fee (%) 0%
  • Why We Chose This Card
  • Pros & Cons
  • Highlights
Why We Chose This Card

This balance transfer card isn’t completely interest-free, but it’s still a worthy addition to this list. It boasts an extraordinarily long balance transfer promotion and waives the transfer fee for new cardholders (on transfers made in the first 60 days of account opening), which is rare. Most cards charge a 3%-5% transfer fee—even during the promotional period—which can add hundreds of dollars to your balance if you transfer a lot. You’ll have 36 months to pay off the debt under a very low APR (currently 4.75%), nearly double the length of the next-longest 0% balance transfer APR deal available now for consumers. 

Pros & Cons
Pros
  • Super-long balance transfer low-APR offer

  • No balance transfer fee for a limited time

  • Gives you a no-interest grace period on new purchases made after you transfer a balance, unlike some other cards

Cons
  • Weak rewards-earning rate on purchases

  • Promotional APR moves with the prime rate, unlike other

  • 0% fixed-rate offers

  • No 0% APR deal on purchases or balance transfers

Highlights
  • $100 statement credit after you spend $500 on qualifying purchases in the first 3 months after account opening.
  • 1% unlimited cash back on all qualifying purchases.
  • 3 year introductory offer at Prime Rate (currently 3.25% variable APR) on balance transfers made in the first 60 days after account opening.
  • Pay no balance transfer fee when you transfer a balance during the first 60 days your account is open. After the first 60 days of account opening, the fee for future balance transfers is $10 or 3% of the amount of the transfer, whichever is greater.

Read full review of SunTrust Prime Rewards Credit Card

Lowest Balance Transfer Fee, Best With a Low Ongoing APR : Simmons Visa

Our Rating Among Balance Transfer Cards
3.9
Simmons Visa®
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Excellent
Regular APR (%) 8.25% variable
Annual Fee $0
Balance Transfer Fee During the promotional period: either $10.00 or 3% of the amount of each balance transfer, whichever is greater. After the promotional period: $0.
INTRO BALANCE TRANSFER APR 0% for 12 Months
Intro Balance Transfer Fee $10.00 or 3% of the amount of each balance transfer, whichever is greater.
  • Why We Chose This Card
  • Pros & Cons
  • Highlights
Why We Chose This Card

You’ll get a year to pay off a balance transfer without interest costs, but the APR advantages of this card don’t stop there. Once the promotional period ends, this card has a low variable APR of only 8.25%. That’s outstanding, considering the average ongoing balance transfer rate is almost 10 percentage points higher, according to research conducted by The Balance. That means if you don’t pay off your transferred debt by the end of the promotional period—or make another transfer later on—your interest costs might still be more reasonable than what you paid with your previous card.

Pros & Cons
Pros
  • One of the best ongoing APRs offered by a low APR card

  • Pay no balance transfer fee within the first 60 days after account opening

Cons
  • You’ll likely need excellent credit to qualify

  • No rewards program or new cardholder bonus

Highlights
  • 0% Intro APR on Balance Transfers for 12 Months.
  • $0 Annual Fee.
  • 8.25% Variable APR.
  • Created for those with excellent credit.

Read full review of Simmons Visa

Find Your Credit Card Match For balance transfer cards, we believe it's most important to focus on the APRs and fees, but we know you might have different priorities. See what suits you best.
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FAQs

What Is a Balance Transfer?

A balance transfer involves moving credit card debt from one account to a new credit card. Generally, people do this because they can transfer the debt to a card offering to charge no interest on transferred balances for a limited time, such as 15 months with 0% APR. 

How Do Balance Transfers Work?

When you apply for a new card with a balance transfer offer, the new card company generally asks you which credit cards you’d like to transfer debt from, the account numbers of those cards, and the amount you’d like to transfer. The amount can’t be higher than the credit limit you have, and sometimes the balance transfer limit is lower than the new card’s total credit limit. For instance, a credit card issuer may approve you for a credit limit of $15,000 with a balance transfer limit of $10,000. 

If there isn’t an introductory APR, you’ll pay the card’s regular interest rate the entire time you are paying off the balance. In either case, you’ll also usually have to pay a fee to the new credit card company to transfer the money, often about 3% of the total balance, or a minimum of $5.

Who Is Balance Transfer Right For?

You could benefit from a balance transfer if:

  • You can repay the balance quickly. If you pay off the balance before the introductory APR expires, you’ll save money on interest charges. 
  • You have good credit. You’ll likely qualify for the best balance transfer cards.

A balance transfer may not be for you if:

  • You want to continue adding charges to your card. Balance transfer offers don’t work at reducing debt levels if you are going to instantly recharge the balance. Make sure you are only transferring an amount you can afford to pay off without incurring new debt.
  • You won’t realize savings. Do the math before transferring a balance. If you want to pay off the debt quickly, make sure the cost of the balance transfer fee doesn’t outweigh how much you’ll pay in interest. Whether or not you’ll save money depends on your current card’s APR, how much debt you have, the new card’s balance transfer fee, and how quickly you plan to pay off the debt.
  • You want more time to get out of debt. Even with the longest balance-transfer periods, you have less than two years to pay your balance down to $0. If you can qualify for a personal loan at a better rate than what your current card has, you could pay off your debt in even installments over the course of a few years.

How Much Can You Save With Balance Transfer Card?

It depends how much debt you have and what interest rates you’re currently paying, but figuring out how much you can save requires two calculations: How much it would cost to transfer your balance and pay it off before the end of the introductory APR, and how much it would cost to pay down the balance on your existing card in the same time frame.

Here’s an example of a savings opportunity:

Say you want to transfer a $10,000 credit card balance with a 0% APR balance transfer offer for 12 months. The balance transfer carries a 3% fee, and on your current card, that balance has an 18% APR.

If you didn’t transfer the balance but paid off your debt within 12 months, you’d pay a total of $10,926—$10,000 of principal and $926 of compound interest you accrue while you’re paying down the balance.

If you transferred the balance, you’d incur a $300 fee (3% of $10,000). But, if you pay the whole debt off by the end of that 12-month 0% APR period, your total cost would remain $10,300.

Transferring the balance and paying off the entire debt allows you to save $626.

If the new card will have a higher interest rate than your original card after the balance transfer offer expires, only transfer the amount you know you can pay off during the introductory period.

How Does a Balance Transfer Impact Credit Score?

A balance transfer can cause your credit score to drop if you close the previous card or you transfer the balance to a card with a lower credit limit (or both). Closing a credit card can not only reduce the amount of available credit you have, but it could also affect the length of your credit history

If you don’t have other cards with a long credit history, consider keeping the older card open if it doesn’t have an annual fee. 

And if you transfer a balance that’s close to the card’s limit, your score may suffer for a while. But if you pay down your debt, you’ll eventually have a better credit utilization rate, which can help your credit score.

How Should You Choose a Balance Transfer Card?

Choose a balance transfer offer based on both the rate you will receive now and the rate you will receive later. Just in case you don’t pay off the balance before the end of the 0% APR period, you should know how much the regular APR will cost.

Follow these steps:

  1. Look at your budget and your debt: Figure out how long you need to completely pay off your balance.
  2. Do the math: Determine if you will save money by transferring your balance or balances.
  3. Explore your options: Seek out cards that allow you prequalify for an offer. It’s not a guarantee of approval, but it’s better than applying blindly.
  4. Choose the card: Apply for the card that gives you the best combination of time to pay off debt while accruing zero interest, low fees, and other features important to you, like customer service tools or rewards. 

Warning

You cannot transfer balances within banks. So if you have debt on one Chase credit card, you cannot transfer the balance to the Chase Slate.

Here’s a rundown of our top picks for balance transfer credit cards:

Best Balance Transfer Cards
Credit Card Category Annual Fee
Wells Fargo Platinum Card Best Overall $0
Citi Simplicity Runner-Up Best Overall $0
SunTrust Prime Rewards Credit Card Longest Promotional APR Period on Transfers $0
Citi Rewards+ Best for Earning Rewards $0
U.S. Bank Visa Platinum Card Longest 0% APR Period on Transfers $0
Simmons Visa Best With a Low Ongoing APR $0
Simmons Visa Lowest Balance Transfer Fee $0

How Should You Do a Balance Transfer?

Balance transfers are pretty simple. If you don’t request the balance transfer when you apply for the card, you generally can initiate balance transfers for a set amount of time from another card or loan. You’ll do so online or by phone. You’ll provide basic information such as account numbers and amounts for the transfer.

Methodology

We collect data on hundreds of cards and score more than 55 features that affect your finances. We do this because it's our mission to give you unbiased, comprehensive credit card reviews.

Our reviews are always impartial. No one can influence which cards we review, the way we present them to you, or the ratings they receive.

About This List

Dozens of credit cards in our database have introductory periods of 0% APR on balance transfers, and we consider all of them for this round-up. Cards with the best combination of long zero-interest periods, low fees, and rewards receive the highest ratings.

What We Score

Each credit card feature receives a score from 0 to 5, which we weight depending on how important it is to have on a credit card used for paying off debt. Those weighted scores produce the star ratings you see above.

Interest

From our database of hundreds of cards, we identify the ones with an introductory period of 0% APR on balance transfers, and we evaluate the length of that intro period (the longer, the better). But we also evaluate a credit card's ongoing APR. While the point of a 0% APR period on balance transfers is to avoid accruing interest on a credit card balance while paying it off, things don't always go as planned. So, our scoring model favors cards with relatively low average APRs.

Fees

A card's balance transfer fee is among the most important factor we evaluate for this list of cards. How much you pay in balance transfer fees has a significant effect on your overall savings when moving a balance from one card to another. In some cases, fees could outweigh the potential interest savings.

We also believe you shouldn't pay an annual fee when getting out of debt. In general, the annual fee is one of the most important factors in credit card decisions. Cards with fewer overall fees tend to score higher in our system.

Credit Score

After the balance transfer length and associated fees, we look at a card's minimum recommended credit score. We do this because having a lot of credit card debt could mean you have less-than-perfect credit, and we want to show cards that more people have a chance of getting.

That means cards that state they accept applicants with lower credit scores receive higher scores. We also give credit cards a higher score if they allow people to prequalify for a card, meaning a person can see if they have a good chance of getting approved before filling out an application that could have a negative effect on their credit score.

For more information about how The Balance analyzes credit cards, see our full credit card review methodology.