The #1 Rated Source for Credit Card Information
Low Cards

Balance Transfer Credit Cards

Consumers can consolidate their credit card debt onto one card and sometimes save significant money on interest charges. These balance transfer cards have attractive introductory or promotional rates. Be sure to look at each card's "More Info" page to become familiar with the card's balance transfer fee and the interest rate charged on additional purchases. Our objective opinion is included on each card.Each card below contains our editor’s rating and objective opinion. Most of the credit card offers shown below are from our advertising partners, however LowCards editors have reviewed each of the features and benefits of the cards below and sorted them in order of our editor’s opinion:

Who should utilize a balance transfer credit card?

Balance transfer credit cards are designed for consumers looking to transfer a balance from a higher interest credit card to a new card which is designed specifically for balance transfers.  The biggest advantage of a balance transfer credit card is savings on interest.  Many of the balance transfer cards featured on LowCards offer a 0% balance transfer interest rate, with periods ranging from 12 months to as much as 21 months or more.

How much can I save with a balance transfer card?

A lot.  For example, if you have a credit card with a 14.99% interest rate and owe $10,000 on it, and you make a $500 per month payment to that card without charging any additional charges on it, you would pay off that card after 24 months.  However you would incur $1,578 in interest expenses during that time period.  If you opened a 0% interest balance transfer card instead, you could save nearly all of that interest expense if the card has a long 0% balance transfer introductory period.  In another example, if you owe $25,000 on a credit card at the same interest rate but pay $1,500 per month in payments, you would pay off that card in 19 months, but incur $3,208 in interest!  A balance transfer card is a fantastic option for these scenarios and more to help save on interest.

What things should I watch out for when selecting a balance transfer credit card?

The biggest three things you want to keep an eye on are the duration of the balance transfer introductory period and the introductory balance transfer rate, whether there is a balance transfer fee, and what the on-going interest rate will be if you don’t pay off the balance during the introductory period.  First and foremost, select a card with a 0% introductory offer on balance transfers and select a time period that works for you to help you pay off as much of your balance as possible during the intro period.  Second, make sure you factor in the balance transfer fee, or select a card that has no fees on balance transfers during the introductory period.  This will help maximize your cost savings with the new card.  And third, make sure you check what the on-going interest rate will be on your balance transfer in the event you aren’t able to pay it off in full during the intro period.  These three tips will help you maximize your cost savings and benefits of your new card!

Are balance transfer cards right for everyone?

No credit card is right for everyone.  First and foremost, most balance transfer cards are designed for individuals with good or excellent credit, so if you have a lower credit profile, you likely will not be approved and should not apply for a balance transfer card.  Secondly, balance transfer cards should be utilized by individuals who have a high interest balance on another card and want to consolidate their debt and pay it off, ideally during the introductory interest period to maximize savings.  If you don’t carry a balance on other cards, you should probably not apply for a balance transfer credit card as there will be other card offers that will provide you with more benefits and features based on your credit card needs.

Frequent Contributor to: is an independent, for-profit website. participates in a paid affiliate network and receives compensation from most of the credit card issuers whose offers appear on the site. This compensation helps support our website and enables us to write insightful articles to help you manage your credit card accounts. This compensation, as well as the likelihood of applicants’ credit approval and our own proprietary website guidelines, may impact how and where the cards appear on our site. does not include all credit card companies or every available credit card offer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Every reasonable effort has been made to maintain accurate information, however credit card offers change frequently. After you click on an offer you will be directed to the credit card issuer’s secure web site where you can review the terms and conditions for your offer.

In some cases, LowCards has partnered with CardRatings for our coverage of credit card products. LowCards and CardRatings may receive a commission from card issuers.