7 Best Balance Transfer Credit Cards of 2023

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Balance transfer credit cards can offer you an effective way to consolidate debt and reduce the interest you pay overall.

The best balance transfer cards will provide a lengthy introductory 0% APR period — anywhere between 15 to 21 months — giving you enough time to pay down most, if not all, of what you owe without interest charges piling up. They also tend to charge lower balance transfer fees than other credit cards.

Read on for our reviews of the best balance transfer cards in the market today.

Our Top Picks for Balance Transfer Credit Cards of 2023

• Chase Freedom Unlimited® — Best Balance Transfer Card with Cash Back
• Blue Cash Everyday® Card from American Express: Best Balance Transfer Card for Everyday Spending
• Wells Fargo Reflect® Card — Balance Transfer Card with Longest 0% APR intro period
• Citi Simplicity® Card — Best Balance Transfer Card with No Late Fees
• First Tech Choice Rewards World Mastercard® — Best Balance Transfer Card with No Transfer Fee
• Bank of America® Customized Cash Rewards Credit Card — Best Balance Transfer Card with Cash Back Runner Up
• Citi Double Cash® Card — Best Balance Transfer Card with Cash Back Runner Up
• Other balance transfer credit cards we considered

Best Balance Transfer Credit Cards Reviews

Intro APR: balance_transfer_intro_apr,balance_transfer_intro_duration│ Regular APR: reg_apr,reg_apr_type│ Annual Fee: annual_fees

Why we chose it: The Chase Freedom Unlimited® offers a 15-month intro period on purchases and balance transfers, along with high cash back rates, making it an excellent addition to your wallet long after the intro period is over.

Like some cards on this list, Chase Freedom Unlimited® offers a lengthy 15-month 0% APR period (followed by a reg_apr,reg_apr_type APR) on both purchases and balance transfers. However, it also offers perks that many balance transfer cards don't offer, which make it stand out even more.

It offers trip cancellation insurance, auto rental collision damage waiver and high cash-back reward rates on bonus categories (unlimited 5% back on travel through Chase Ultimate Rewards® and 3% on dining, which includes eligible takeout and delivery) along with an unlimited 1.5% base rate for other eligible purchases.

However, while 15 months is a good amount of time, if the introductory period length is a priority, some competitors offer slightly more.

Intro APR: balance_transfer_intro_apr,balance_transfer_intro_duration and intro_apr_rate,intro_apr_duration│ Regular APR: reg_apr,reg_apr_type│ Annual Fee: annual_fees

Why we chose it: In addition to a 15-month introductory period, the Blue Cash Everyday® Card from American Express offers an array of rewards and benefits, especially when it comes to groceries and gas.

The Blue Cash Everyday® Card from American Express offers 15 months of 0% APR on both purchases and balance transfers (followed by a reg_apr,reg_apr_type APR), which can be more than enough time to pay down your balance considerably without accruing interest charges.

But its benefits don’t end on the 16th month, as it offers high rewards at U.S. supermarkets and U.S. gas stations, some of the largest expenses on almost every American’s budget.

The card also offers purchase protection, car rental loss and damage insurance* and a couple of statement credits. Cardholders can get $7 each month (up to $84 annually) after spending at least $9.99 a month on Disney Bundle monthly subscription purchases, as well as up to $15 per month in statement credits after purchasing at HomeChef.com. (Enrollment required.)

Intro APR: 0% intro APR for 21 months on balance transfers│ Regular APR: 18.24%, 24.74% or 29.99% variable APR│ Annual Fee: $0

Why we chose it: The Wells Fargo Reflect® Card has a long introductory period for both purchases and balance transfers, as well as one of the longest periods for cardholders to make balance transfers at 120 days from account opening.

The Wells Fargo Reflect® Card offers up to 21 months of 0% APR on balance transfers and purchases with 0% APR, followed by 18.24%, 24.74% or 29.99% variable APR.

There is a small catch. The original 0% APR balance transfer offer is 18 months, but the bank will extend that for three additional months if you make every minimum payment on time. However, given that it’s in the best interest of your credit score anyway to make all your payments on time, this added incentive could really be a win-win.

The Wells Fargo Reflect® Card does stand out in other ways. While many cards have a limited time period to make these transfers, the Wells Fargo Reflect® Card has one of the longest at 120 days from account opening; many others offer 60 or even 30.

Finally, this card has up to $600 in cell phone protection plus the chance to earn some cash back in specific offers through My Wells Fargo Deals — features that are not available through most of its main competitors.

All information about the Wells Fargo Reflect® Card has been collected independently by Money.com.

Intro APR: 0% intro APR for 21 months on balance transfers│ Regular APR: 19.24%-29.99%│ Annual Fee: $0

Why we chose it: The Citi Simplicity® Card offers 21 months of 0% APR (followed by 19.24%-29.99% variable APR) on balance transfers and no late fees.

The Citi Simplicity® Card offers a lengthy introductory APR for balance transfers.

It also provides four months to transfer a balance and qualify for the promotional rate, which is longer than most competitors. This gives cardmembers more flexibility regarding their debt consolidation plans, especially since the promotional 21 months begin from the balance transfer date, not the account opening date.

Note that its balance transfer fee is $5 or 3% during the first four months, $5 or 5% thereafter, which is comparable to many competitors.

A major highlight for the card is that it charges no late fees and has no penalty APR. This means that you can pay at any point throughout the month without incurring additional charges. Payments must still be made within the billing period, of course, to prevent negative impact to your credit.

On the downside, the promotional period for purchases is only 12 months, meaning that regular buys will start accruing interest nine months before balance transfers.

All information about the Citi Simplicity® Card has been collected independently by Money.com.

Intro APR: 12 months with 0% APR on balance transfers│ Regular APR: 13.50%-18.00%│ Annual Fee: $0

Why we chose it: The First Tech Choice Rewards World Mastercard® is one of the few no-balance transfer-fee credit cards with rewards, and it also offers a low regular APR — all of which make it a valuable card to have even after its promotional period ends.

The First Tech Choice Rewards World Mastercard® offers a 12-month period with 0% APR on balance transfers, followed by a 13.50%-18.00% regular APR thereafter. Its biggest draw, however, is the lack of a balance transfer fee.

While the promotional period is comparatively short and doesn’t apply to purchases made with the card, no balance transfer fee means that the balance can be transferred without adding the typical 3% to 5% fee that most cards charge. This is especially beneficial for people that have a short term plan to pay off a large balance.

This card by First Tech also has a rewards program that earns 2x points per dollar on purchases made on groceries, gas, electronics, household goods and medical and telecommunication retailers. On everything else, the card earns 1x point. Note that these points are only redeemable through the issuer’s platform and have no cash value.

There’s also a wide array of Mastercard Benefits, such as coverage for rental cars, trip cancellation, lost baggage and discounts from companies like DoorDash and Lyft.

With these perks, along with its low regular APR, the First Tech Choice Rewards World Mastercard® could be a great addition to your wallet.

All information about the First Tech Choice Rewards World Mastercard® has been collected independently by Money.com.

Best Balance Transfer Card with Cash Back Runner Up: Bank of America® Customized Cash Rewards Credit Card

Intro APR: 0% intro APR on purchases and balance transfers for 15 months│ Regular APR: 18.24% - 28.24% variable│ Annual Fee: $0

Why we chose it: Very few balance transfer cards offer intro bonuses or rewards, but this Bank of America® option does just that — offering a fairly lengthy introductory period on balance transfers, a solid welcome offer and high cash back rates on select categories.

For consumers who want a card that both helps them consolidate debt in the short term and rewards their usage long term, the Bank of America® Customized Cash Rewards Credit Card is an excellent choice.

The card offers a long 15-month introductory period on both new purchases and balance transfers. Balance transfers must be made within the first 60 days of account opening, however, a shorter span than most other cards, which commonly offer around four months.

You also get plenty of rewards with this card. The Bank of America® Customized Cash Rewards Credit Card offers 3% on a category you choose monthly from a pre-established list (including gas stations, drug stores, online shopping and more). You earn 2% back at grocery stores and wholesale clubs too, although there’s a $2,500 per quarter spending limit on 3% and 2% categories combined, earning 1% after that. On everything else, you’ll get 1% cash back.

The card’s promotional period is similar to those from many cards that specialize in balance transfer offers. However, its rewards program is highly competitive, making it a good choice for people who want to get something back for their everyday expenses.

All information about the Bank of America® Customized Cash Rewards Credit Card has been collected independently by Money.com.

Intro APR: 0% intro APR for 18 months on balance transfers│ Regular APR: 19.24%-29.24%│ Annual Fee: $0

Why we chose it: Among cards with a high cash back rate, the Citi Double Cash® Card offers one of the longest introductory periods at 18 months.

One of Citibank’s most popular offerings, the Citi Double Cash® Card is a great option, giving back 2% on all purchases — 1% when you buy, and 1% when you pay your card.

This means it offers one of the highest flat-rate cash back options along with one of the longest introductory periods for balance transfers. While there are other great options with similar offers, it might come down to priorities and personal preference.

However, despite its many advantages, it doesn’t offer an introductory APR on purchases — which other competitors in our list do offer.

All information about the Citi Double Cash® Card has been collected independently by Money.com.

Other balance transfer credit cards we considered

Citi® Diamond Preferred® Credit Card

The Citi® Diamond Preferred® Credit Card specializes in balance transfers, as demonstrated by its 21-month long balance transfer promotional period, which is among the best in the market. However, when it comes to new purchases, that period is much shorter at 12 months, which is why competitors edged it out of our list.

All information about the Citi® Diamond Preferred® Credit Card has been collected independently by Money.com.

U.S Bank Visa® Platinum Card

The U.S. Bank Visa® Platinum Card is a reliable balance transfer card that delivers just what’s needed. It has 21 months of 0% APR on both purchases and balance transfers (18.74%-29.74% regular APR afterwards).

All information about the U.S. Bank Visa® Platinum Card has been collected independently by Money.com.

Navy Federal Credit Union® Platinum Credit Card

The Navy Federal Credit Union® Platinum Credit Card does not charge a balance transfer fee and offers an incredibly low regular APR (11.24%-18.00%), making it convenient even after its promotional 12-month promotional period is over. Unfortunately, the Navy Federal membership is only for active or retired members of the military, their families and certain military department employees.

All information about the Navy Federal Credit Union® Platinum Credit Card has been collected independently by Money.com

Balance Transfer Credit Cards Guide

There’s a lot to know about balance transfer credit cards, from their interest-free promotions to what they offer after those are over.

Read on to better understand what these cards are, how they work and the details that can help you make the right decision.

• What is a balance transfer credit card?
• Who should get a 0% APR balance transfer credit card?
• How to transfer a credit card balance
• Balance transfer credit card mistakes to avoid
• How to choose a balance transfer credit card
• Pros and cons of balance transfer credit cards
• Alternatives to 0% balance transfer credit cards
• Latest news in balance transfer credit cards

What is a balance transfer credit card?

A balance transfer is an agreement between two credit card issuers. Essentially, the issuer from the card you’re transferring to pays off your debt to the issuer you’re transferring the balance from. This transfer is subject to approval from both parties and depends on the amount and your payment history.

Balance transfer credit cards are cards with introductory offers of 0% APR on balances transferred from another card for an established period of time. These introductory periods with a 0% balance transfer APR can range anywhere between 18 and 21 billing cycles.

Cards that don’t specialize in balance transfers offer shorter promotional periods or sometimes none at all. Some cards don’t allow balance transfers at all, so it’s important to be sure any card you apply for actually offers balance transfers if it’s in your plans.

While many of these cards charge a 5% balance transfer fee, some don’t charge these fees at all or offer a lower percentage such as 3% for a limited time.

If this is what you’re looking for, keep on reading to better understand the process; if you want a broader look at the credit card options available, check out our Best Credit Cards article.

What is a 0% balance transfer?

Usually, when you transfer a balance from one card to another, you’ll have to pay interest on that balance at the new card’s APR.

However, when you get an offer with 0% intro APR for balance transfers, the balance you transferred will not be charged interest for a specified period of time. Some cards that offer this introductory 0% APR only offer it for balance transfers; other cards, however, go a step further and offer 0% APR on new purchases made with the card as well.

What is a balance transfer fee?

Most issuers will charge a balance transfer fee, which is a percentage of the total balance you’re transferring. It’s usually somewhere between 3% and 5% or $5, whichever is greater (spoiler alert: the percentage is almost always greater). Most cards offer a 5% balance transfer fee, but there are cards that offer 3% for a specific period of time as part of a promotion.

For example, you might transfer a $2,000 debt within the first 60 days of account opening, and your balance would end up being $2,060 (3% of $2,000 is $60) on your new card. If you transfer it at a later date when the transfer fee is instead 5%, your balance would be $2,100.

Some cards don’t charge a balance transfer fee during that period, such as the First Tech Choice Rewards World Mastercard®. These are extremely rare, however, and some issuers might offset this by offering a slightly higher interest rate, such as 0.99% instead of 0%, which is the case for the Navy Federal Credit Union® Platinum Credit Card.

What are the limits on balance transfers?

Other than the new card’s credit limit, there are no caps on the transfer amount. Nevertheless, keep in mind that the fee’s percentage might take away some wiggle room. If your available credit is $2,000 and the balance transfer fee is 3%, you’ll have enough available credit to transfer around $1,940, plus the $58.20 charged.

Who should get a 0% APR balance transfer credit card?

Individuals with large amounts of credit card debt. If you have outstanding balances on one or more credit cards and the interest is becoming a problem, a balance transfer credit card can lighten that load. It’ll give you a period of time to pay off just the principal of your debt without accruing a monthly interest charge.

Cardholders with high interest rates. Your debt might not be too high, but if your current credit cards charge really high interest, it can still be a problem. Getting 0% APR for 12 months or more can save you a couple of dollars down the road (watch out for that pesky balance transfer fee, though). Also, if you’ve grown creditwise, you might get a card with a lower regular APR than your previous card even after the promotional period ends.

People looking for a better card. If you’re looking for a more convenient and rewarding credit card than what’s currently in your wallet, finding a card with a 0% balance transfer offer can be convenient. You can transfer the outstanding balance you currently have and avoid interest charges, while also getting a new, far better card. Cards like the Chase Freedom Flex℠ or the Bank of America Customized Cash Rewards offer lengthy promotional periods and a wide array of cash back rewards.

How to transfer a credit card balance

Transferring a balance between cards is fairly simple, especially now that many issuers include the option in their mobile apps and websites.

1. Apply for your new card. Once you choose a balance transfer credit card that suits your particular needs, go to the issuer’s website and apply.
2. Ask your issuer for the transfer. On your new issuer’s mobile app or website, you’ll find the option to transfer a balance, most likely in a “Services” section. You can also call your issuer directly.
3. Fill in the information. When you find the balance transfer option, you’ll need to fill in the form with the information of the existing credit card (the card you’re transferring the balance from), so keep the card accessible.
4. Wait. It actually is that simple once you’ve been approved for the card itself. The balance transfer needs to be approved and it can take five to seven days to take effect.
5. Pay your new issuer. Keep on paying the balance, but on your new card account instead of your old one — unless you left some balance back there too.

Balance transfer credit card mistakes to avoid

Transferring a balance at a 0% interest rate is always tempting, but there are some risks to watch out for before, during and after you take advantage of an offer:

• Applying for a credit card without researching. It’s important to carefully research credit card options and review your credit report before you apply for a card, so you only apply for cards that you’re likely to be approved for. While most of our top balance transfer cards require good to excellent credit, our top picks for Best Credit Cards to Build Credit consider applicants with poor or even no credit at all.

• Not planning ahead. It’s important to have a plan in place to either pay off your transferred debt or significantly reduce it before the introductory period ends and the regular APR kicks in. This typically means being prepared to pay significantly more than the minimum payment due every month.

• Increasing debt. When you transfer a balance, it’s important to stop using the old card or you run the risk of ending up in more high-interest debt than before.

How to choose a balance transfer credit card

Most balance transfer cards have an 15- to 21-month intro APR offer, but there’s a lot more to look at when you’re making your choice. Which card is right for you depends on your personal finances, payment plans and what you expect to get from it in the future.

1. Compare introductory period length

If you’re looking specifically for 0% APR credit cards, the most important factor to consider is the length of that offer and whether it’s enough time to pay off most, if not the entirety, of your debt.

Regular cards often offer an introductory low-APR period on both eligible purchases and balance transfers as well. However, they normally range between nine and 15 months, while specialized balance transfer cards offer anywhere between 18 and 21 months.

A good point of comparison is the introductory period for new purchases. While most balance transfer-focused credit cards will offer the same 18 to 21 months with 0% APR on balance transfers, some will pair this with a shorter 12- to 15-month period on purchases. Those with longer periods on purchases can often be the better option.

2. Check balance transfer fee amount and transfer time limit

Most balance transfer cards charge a fee when you transfer debt, typically between 3% and 5%. That difference can be huge if you have a large balance to transfer, so it’s important to calculate just how much that will end up costing you. In some cases, it might be enough to impact your card choice.

Also, some issuers offer the lower 3% only for a limited time, from 30 to 120 days — it’s important to consider whether you can make the transfer immediately. There are also a few cards that don’t charge a balance transfer fee, although they tend to be lackluster in terms of rewards and overall perks.

Additionally, some cards’ intro offer will be subject to a time limit. For example, some could require that you make the transfer within 60 days (or whichever time limit applies) to enjoy the 0% APR for the announced period, but if you make it afterwards, you’ll get the regular APR.

3. Consider other fees

If you’re looking for relief from credit card debt, the last thing you want is additional fees raising your balance.

First, you might want to get a no annual fee card (annual fees are rare among balance transfer cards), as some of these fees can be a huge burden down the road.

Second, look at over-the-limit fees. Some issuers allow you to exceed your limit to avoid declining a purchase, but could charge a fee for it. After a balance transfer, you might have little available credit remaining, which could make you more vulnerable to accidentally going over your limit.

Third, examine whether the card charges a late fee and/or a penalty APR. Some issuers give the account a higher, penalty APR after a late payment, while others just charge a fixed amount that gets added to your balance. Some, however, do both. Penalty APRs, for the most part, don’t apply to existing balances, while late fees are immediately added.

4. Compare rewards

One of the most attractive features credit cards can offer is the rewards program. While most cards specializing in balance transfers won’t offer the most generous travel rewards (for those, check out our best travel credit cards list), they do sometimes offer perks.

Even those without cash back or points can feature benefits such as extended warranties or cell phone protection. These cards are often a better deal than one that only offers an introductory low-APR period.

Some of the best cash back credit cards, however, offer 12 to 18 months of 0% APR on balance transfers, along with introductory bonuses. Depending on your situation, these may actually be good enough (or even better in the big picture) than cards aimed specifically at balance transfers.

Pros and cons of balance transfer credit cards

Balance transfer cards can be a huge help when high-interest credit card debt is getting out of hand. However, these cards have some disadvantages. Here are some examples of the good and the bad when doing a balance transfer with a new card.

Alternatives to 0% balance transfer credit cards

Using a credit card to consolidate debt is a good option, but it won’t always be the best choice — especially if you can’t pay your remaining balance within the introductory APR period.

Here are some alternatives that can help you, depending on your particular situation.

Debt consolidation loans

A debt consolidation loan can help you pay off all your existing, high-interest debt and consolidate it into a single payment at, hopefully, a lower interest rate. In many cases, lenders will take care of the consolidation and pay the credit card issuers directly.

If this sounds like a good option for you, take a look at our best debt consolidation loans for some guidance.

Debt consolidation services

Unlike debt consolidation loans, which consolidate all existing debt and accounts into a new one (the loan), debt consolidation services act as an intermediary between you and your creditors, including but not limited to credit card issuers. You pay debt consolidation companies and they, in turn, make all the payments for you. More importantly, they can negotiate to reduce what you owe or lower your interest rates. Some services will also help you find debt consolidation loans, if they provide the service and believe it’s the correct course of action.

Personal loans for credit card debt

There’s also the possibility of getting a personal loan in order to pay off credit cards and consolidate debt. Personal loans are typically low-interest when compared to credit cards, and are quickly processed — in fact, funds could be deposited in your account within 24 or 48 hours from approval. This can be convenient if you only need to pay off certain card bills or if you also need extra cash for other issues.

You can look at our best personal loans article to further examine if this route is right for you.

Make a plan to pay off your debt faster

If you can’t transfer your high-interest debt to a balance transfer card, and your current card has a high APR, it’s a good idea to devise a quicker repayment plan. Ways to do this include paying more than the minimum amount, using rewards as statement credits or looking for additional income.

Ask for a lower interest rate

You can ask credit card companies to lower your interest rate. The request could be approved if, despite your debt, your credit or FICO score has improved over time. This will help lessen the burden of interest charges while you pay off the debt.

Latest News in Balance Transfer Credit Cards

• It can be overwhelming to make a plan to pay off large credit card balances. If that’s your case, check out our article on 5 Popular Strategies People Are Using to Escape Credit Card Debt .

• A bill has been proposed in order to allow more competition among credit card processors beyond Visa and Mastercard, opening the door to lower fees for merchants. The question is: Could This New Credit Card Bill in Washington Hurt Your Miles and Points?

• Forgetting to pay a credit card bill one or two days later might not affect your credit score, but it can cost you. That might change, since Biden’s New Plan to Slash Credit Card Late Fees Could Save Americans $9 Billion per Year

How We Chose the Best Balance Transfer Credit Cards

As part of our methodology to find the best balance transfer credit cards, we examined the 2023 U.S. Credit Card Satisfaction Study by JD Power, along with the following four factors:

• Introductory period length. The length of time that 0% APR is offered is the main attraction of balance transfer cards. We mainly looked at cards that offered between 18 and 21 months (with the exception of rewards cards and those that had special features). We disqualified any that offered less than 15 months.

• Variable APR. After the introductory period ends, the APR cardholders are left with is important, especially since some might not have yet paid off their entire balance. Lower regular APRs gave some cards an edge.

• Fees and time limit. Balance transfer fees are important additional expenses to consider when transferring an existing balance over to your new card. We looked for cards that offered a lower 3% intro balance transfer fee, along with a longer period to make the balance transfer.

• Rewards and perks. While balance transfer credit cards are not focused on the rewards, those that do offer perks tend to be a valuable addition to your wallet. If a card with a long intro period offers rewards or benefits such as purchase protection, it’s worth a deeper look.

Summary of Money’s Best Balance Transfer Credit Cards of 2023

• Chase Freedom Unlimited® — Best Balance Transfer Card with Cash Back
• Blue Cash Everyday® Card from American Express: Best Balance Transfer Card for Everyday Spending
• Wells Fargo Reflect® Card — Balance Transfer Card with Longest 0% APR intro period
• Citi Simplicity® Card — Best Balance Transfer Card with No Late Fees
• First Tech Choice Rewards World Mastercard® — Best Balance Transfer Card with No Transfer Fee
• Bank of America® Customized Cash Rewards Credit Card — Best Balance Transfer Card with Cash Back Runner Up
• Citi Double Cash® Card — Best Balance Transfer Card with Cash Back Runner Up
• Other balance transfer credit cards we considered

To see rates and fees for the Blue Cash Everyday® Card from American Express, visit this link. Terms apply.

* Insurance disclosures for American Express Cards on this page:

Trip Delay Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Global Assist Hotline: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers.

Extended Warranty, Purchase Protection, Baggage Insurance Plan: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

Car Rental Loss & Damage Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.