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:
Best Card Features: Earn cash back twice. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
  • Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.
  • Regular APR
    13.99% – 23.99% (Variable)
  • Intro APR
    0% intro APR for 18 months on balance transfers
  • Annual Fee
    $0
  • cdm-card

    Good/Excellent Credit

Best Card Features: 0% APR for 21 months on Balance Transfers and 12 months on Purchases; no annual fee, late fee or penalty rate
  • No Late Fees, No Penalty Rate, and No Annual Fee… Ever
  • 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that, the variable APR will be 14.74% – 24.74%, based on your creditworthiness.
  • 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 14.74% – 24.74%, based on your creditworthiness.
  • Regular APR
    14.74% - 24.74% (Variable)
  • Intro APR
    0% for 21 months on Balance Transfers; 0% for 12 months on Purchases
  • Annual Fee
    $0
  • cdm-card

    Good/Excellent Credit

Best Card Features: Long intro APR period especially for balance transfers; No annual fee
  • 0% Intro APR on balance transfers for 21 months from date of first transfer. After that, the variable APR will be 13.74% – 23.74%, based on your creditworthiness. All transfers must be completed in first 4 months.
  • 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 13.74% – 23.74%, based on your creditworthiness.
  • If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balance, are paid in full.
  • Regular APR
    13.74% – 23.74% (Variable)
  • Intro APR
    0% for 12 months on Purchases and 0% for 21 months on Balance Transfers
  • Annual Fee
    $0
  • cdm-card

    Good/Excellent Credit

Best Card Features: Only card to round up rewards to nearest 10 points; 15,000 bonus points after spending $1,000 in first 3 months
  • The Citi Rewards+SM Card – the only credit card that automatically rounds up to the nearest 10 points on every purchase – with no cap.
  • Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening; redeemable for $150 in gift cards at thankyou.com
  • 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 13.49% – 23.49%, based on your creditworthiness. Balance transfer fee — either $5 or 3% of the amount of each transfer, whichever is greater.
  • Regular APR
    13.49% - 23.49% (Variable)
  • Intro APR
    0% for 15 months on Purchases and Balance Transfers
  • Annual Fee
    $0
  • cdm-card

    Good/Excellent Credit

Best Card Features: No annual fee; $150 statement credit after spending $1,200 in first 90 days; 0% on Purchases for 12 months and Balance Transfers for 18 months
  • 0% Intro APR on Purchases for 12 months and Balance Transfers for 18 months; after that the variable APR will be 14.40% – 24.40%, based on your creditworthiness
  • Earn $150 Statement Credit after you spend $1,200 on purchases within the first 90 days from account opening
  • Earn 5x rewards on up to $1,500 in combined purchases each quarter in popular categories such as dining, groceries, travel, and automotive
  • Regular APR
    14.40% - 24.40% (variable)
  • Intro APR
    0% on Purchases for 12 months and Balance Transfers for 18 months
  • Annual Fee
    $0
  • cdm-card

    Excellent Credit

Best Card Features: Bonus Points, Rewards Program
  • 20,000 Bonus LifeMiles after first card use
  • Earn 2 LifeMiles per $1 spent on Avianca purchases
  • Earn 1 LifeMile per $1 spent on all other purchases
  • Regular APR
    13.24% to 26.24%, based on your creditworthiness
  • Intro APR
    0% introductory APR for the first 12 months. Applies to transfers made within the first 90 days from account opening. After that, your APR will be from 13.24% to 26.24%, based on your creditworthiness
  • Annual Fee
    $59
  • cdm-card

    Good/Excellent Credit

Best Card Features: Bonus Points, Rewards Program
  • 40,000 Bonus LifeMiles after first card use
  • Earn 3 LifeMiles per $1 spent on Avianca purchases
  • Earn 2 LifeMiles per $1 spent at gas stations and grocery stores
  • Earn 1 LifeMile per $1 spent on all other purchases
  • Regular APR
    13.24% to 26.24%, based on your creditworthiness
  • Intro APR
    0% introductory APR for the first 12 months. Applies to transfers made within the first 90 days from account opening. After that, your APR will be from 13.24% to 26.24%, based on your creditworthiness.
  • Annual Fee
    $149
  • cdm-card

    Good/Excellent Credit

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.

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