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It’s that time of the year. The holidays are over and the bills haven’t started coming in yet. But they will. Here are the best balance transfer credit cards.
Did you go a little overboard and spend more than you planned on holiday gifts?
Spent more on travel than you realized?
Had a month, two, three, of 12 where Murphy’s Law took control: the car broke down, dental emergency, etc.
Planning several big purchases like a remodel or college tuition?
Need a little breathing room from credit card debt?
Looking for a 0% interest card?
A balance transfer card might be for you.
I’ve written about the best travel rewards credit cards, the best card for travel hacking, the best travel rewards cards that earn points and cash with a welcome bonus, and how to travel for free with travel rewards cards.
Contents
- 10 Best Balance Transfer Credit Cards With 0% Intro APR
- Chase Freedom Unlimited
- Capital One(R) Quicksilver(R) Cash Rewards Credit Card (learn more)
- U.S. Bank Cash+Visa Signature Card
- Chase Freedom
- Wells Fargo Cash Wise Visa Card (learn more)
- ABOC Platinum Rewards Credit Card
- Blue Cash Preferred Card from American Express
- Citi Double Cash Card
- Blue Cash Everyday Card from American Express
- Capital One(R) SavorOne(SM) Cash Rewards Credit Card (learn more)
- How 0% APR Balance Transfer Credit Cards Work
- Conclusion
10 Best Balance Transfer Credit Cards With 0% Intro APR
Sometimes we all need a little help. Travel can be expensive especially if you charge everything to your credit card. That’s where a balance transfer credit card comes in.
Balance transfer credit cards let you move debt from one card to another card.
Transferring your balance from one credit card to another credit card can save a lot of money.
With 0% balance transfer credit cards you don’t have to pay interest on the transferred balance.
Each card has specific terms of how long you can avoid interest payments. The most common offers are 12 months, 15 months, 18 months, and 21 months.
Some people use balance transfer cards as a way to consolidate debt. Because when combined with budgeting you can get out of debt faster.
These are the 10 best balance transfer credit cards with 0% intro APR almost all have no annual fee.
Almost all of these cards offer a welcome bonus and a few let you earn points so you can travel for free.
Chase Freedom Unlimited
The Chase Freedom Unlimited is the best balance transfer credit card with 0% intro APR on balance transfers and purchases for 15 months.
You pay no interest for the first 15 months of your transferred balance so every dollar you pay goes toward what you owe.
The Chase Freedom Unlimited offers a $150 bonus when you spend $500 on purchases in the first 3 months of opening your card.
Combine the welcome offer with 0% intro APR on new purchases for your first 15 months and it’s like spending $500 but only paying $350.
You earn an unlimited 1.5% cash back on everything. So you can your cash back towards paying off your balance.
Or transfer points to cards like the Chase Sapphire Preferred or Ink Business Cash and use for free flights and hotel rooms.
Because there’s no annual fee, this is a great card to keep to help build your credit and credit score.
There’s a $5 or 5% balance transfer fee, whichever is great.
Pro-tip: During your first 60 days, the intro balance transfer fee is 3% or $5 minimum.
Capital One(R) Quicksilver(R) Cash Rewards Credit Card (learn more)
The Capital One(R) Quicksilver(R) Cash Rewards Credit Card (learn more about this card) is one of the best balance transfer credit cards with 0% intro APR on balance transfers and purchases for 15 months.
You don’t pay interest on your transferred balance for the first 15 months. This means you can pay down your debt faster.
The Capital One Quicksilver Cash Rewards Credit Card has a one-time bonus of $150 when you spend $500 on purchases in the first 3 months of opening your card.
You earn 3% unlimited cash back on dining and entertainment, 2% cash back at grocery stores, and 1% on everything else.
There’s no annual fee so this is a great card to keep.
There’s a 3% balance transfer fee.
U.S. Bank Cash+Visa Signature Card
The U.S. Bank Cash+Visa Signature Card is the best balance transfer credit cards with 0% intro APR on balance transfers for 12 months.
For the first 12 months you don’t pay interest on your transferred balance. It’s a one-year interest-free loan.
The no annual fee U.S. Bank Cash+Visa Signature Card offers a $150 bonus when you spend $500 on purchases in the first 3 months of having your card.
You earn 5% cash back on the first $2,000 spent on two categories of your choice; 2% cash back on one category like grocery stores; 1% cash back on everything else.
There’s a 3% balance transfer fee.
Chase Freedom
The Chase Freedom is one of the best balance transfer credit cards because it offers 0% intro APR on balance transfers and purchases for 15 months.
This means you get a 15-month interest-free loan on your transferred balance and new purchases.
You can earn a $150 bonus from the Chase Freedom after spending $500 on purchases in the first 3 months of opening your card.
All purchases earn an unlimited 1% cash back.
Every quarter you can earn 5% cash back (up to $1,500) on certain bonus categories.
You can transfer points to cards like the Chase Sapphire Preferred or Ink Business Cash for free airplane tickets and hotel stays.
The Chase Freedom is a great card to maintain good credit because there’s no annual fee.
There’s a $5 or 5% balance transfer fee, whichever is great.
Pro-tip: During your first 60 days, the intro balance transfer fee is 3% or $5 minimum.
Wells Fargo Cash Wise Visa Card (learn more)
The Wells Fargo Cash Wise Visa Card (learn more about this card) is the best balance transfer credit card with 0% intro APR on balance transfers and purchases for 15 months plus cell phone protection.
This card has a $150 bonus when you spend $500 on purchases in the first 3 months of account opening.
You earn unlimited 1.5% cash back and there is 0% intro APR on new purchases for the first 15 months.
When you use this card to pay your cell phone bill you get up to $600 cell phone insurance protection against damage or theft. This can come in handy if you drop your phone.
The Wells Fargo Cash Wise Visa Card has no annual fee.
There’s a 3% balance transfer fee or $5, whichever is greater.
ABOC Platinum Rewards Credit Card
The ABOC Platinum Rewards Credit Card is the best balance transfer credit card with 0% intro APR for 18 months and 0% intro APR on new purchases for 12 months.
You can earn a $150 statement credit after spending $1,200 on purchases in the first 90 days of opening your ABOC Platinum Rewards credit card.
This no annual fee card offers 5X rewards points (up to $1,500) every quarter on categories like travel, groceries, dining, and automotive.
Balance transfer fee is 3% with a minimum of $5.
Blue Cash Preferred Card from American Express
The Blue Cash Preferred Card from American Express is one of the best balance transfer credit cards with 0% intro APR for 12 months and offer up to 6% cash back.
You can earn a statement credit of $250 after spending $1,000 on purchases in the first 3 months of opening your account.
This card offers 6% cash back on select streaming subscriptions. So you won’t feel guilty about being a couch potato and catching up on your shows.
You earn 3% cash back on rideshares, taxis, trains, buses, parking, tolls, and more. This is great is you live in a city like New York with great public transportation.
At US supermarkets you get 6% cash back up to $6,000 a calendar year, then it goes to 1%.
On purchases at US gas stations you earn 3% gas back and 1% on everything else.
The only bummer about this card is the $95 annual fee. But you can easily earn enough cash back to make it worth paying.
Balance transfer fee is 3% or $5, whichever is greater.
Citi Double Cash Card
The Citi Double Cash Card is the best balance transfer credit card with 0% intro APR on balance transfers for 18 months.
If you want 18 months of interest-free payments, consider getting the Citi Double Cash card.
This card offers no annual fee and 1% unlimited cash back on all purchases plus an extra 1% cash back when you make your minimum payments.
There’s a 3% balance transfer fee with a $5 minimum.
Blue Cash Everyday Card from American Express
The Blue Cash Everyday Card from American Express is one of the best balance transfer credit cards with 0% intro APR on purchases and balance transfers for 15 months.
You can earn a statement credit of $150 after spending $1,000 on purchases in the first 3 months of opening your account.
This no annual fee card offers 3% cash back at US supermarkets, up to $6,000 a calendar year, then it goes to 1%.
On purchases at US gas stations, you earn 2% gas back and 1% on everything else.
The Balance transfer fee is 3% or $5, whichever is greater.
Capital One(R) SavorOne(SM) Cash Rewards Credit Card (learn more)
The Capital One(R) SavorOne(SM) Cash Rewards Credit Card (learn more about this card) is one of the top 10 best balance transfer credit cards with 0% intro APR on purchases and balance transfers for 15 months.
Your transferred balance is interest-free for the first 15 months so all your payments go towards the principal.
The Capital One® Savor® Cash Rewards Credit Card has a one-time bonus of $150 after you spend $500 on purchases in the first 3 months of opening your card.
All purchases earn unlimited 1.5% cash back and you pay 0% intro APR on new purchases for the first 15 months.
You’ll want to keep this card because there’s no annual fee.
There’s a 3% balance transfer fee.
How 0% APR Balance Transfer Credit Cards Work
A credit card with a 0% interest on balance transfers means interest is not charged on transferred debt.
If a credit card offers 0% APR on balance transfers for 15 months you aren’t charged interest for 15 months on that transferred balance.
Using a balance transfer card doesn’t mean you don’t have to make your payments. You still have to make payments on your debt but aren’t charged interest.
Think of it as an interest-free loan.
Let’s say you have a $10,000 balance on your credit card with a 27.29% interest rate. Your minimum monthly payment is at least $228 which only covers the interest and not your debt.
It will take you 22.2 years to pay off your balance! And you’ll have paid $50,523.48 in interest!
You can transfer your debt to a 0% balance transfer card like the Chase Freedom Unlimited which offers 0% intro APR interest on balance transfers for 15 months.
All your payments will go toward paying off your debt.
By the end of 15 months, you’ll only owe $6,580 on your transferred balance.
If you’re able to pay extra each month, you can reduce your debt faster.
Pro-tip: You can transfer this balance to another 0% balance transfer card. Repeat until you pay off your debt.
This works best if you aren’t adding extra debt to your existing debt.
Be sure to pay your bill on time or early. With some 0% offers, if you pay your bill late, it cancels your 0% rate. 🙁
The best way to use balance transfer cards is to pay down your debt.
Conclusion
Balance transfer credit cards can save you money and help you get out of debt faster. These are the best balance transfer credit cards with 0% intro APR:
- Chase Freedom Unlimited: best balance transfer credit card with 0% intro APR on balance transfers and purchases for 15 months
- Capital One(R) Quicksilver(R) Cash Rewards Credit Card (learn more about this card): best balance transfer credit card with 0% intro APR on balance transfers and purchases for 15 months
- U.S. Bank Cash+Visa Signature Card: best balance transfer credit cards with 0% intro APR on balance transfers for 12 months
- Chase Freedom: best balance transfer credit cards because it offers 0% intro APR on balance transfers and purchases for 15 months
- Wells Fargo Cash Wise Visa Card (learn more about this card): best balance transfer credit card with 0% intro APR on balance transfers and purchases for 15 months plus cell phone protection
- ABOC Platinum Rewards Credit Card: best balance transfer credit card with 0% intro APR for 18 months and 0% intro APR on new purchases for 12 months
- Blue Cash Preferred Card from American Express: best balance transfer credit cards with 0% intro APR for 12 months and offer up to 6% cash back
- Citi Double Cash Card : best balance transfer credit card with 0% intro APR on balance transfers for 18 months
- Blue Cash Everyday Card from American Express: best balance transfer credit cards with 0% intro APR on purchases and balance transfers for 15 months
- Capital One(R) SavorOne(SM) Cash Rewards Credit Card (learn more about this card): best balance transfer credit cards with 0% intro APR on purchases and balance transfers for 15 months.
Whether you want to save money on interest to pay off your balances sooner, need a little breathing room from high interest rates, or have upcoming large purchases, balance transfer cards can help. You can move your debt from your other cards to balance transfer credit cards with 0% intro APR.
Which are your favorite balance transfer cards?
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Chase Sapphire Preferred
9 Comments
Sometimes I think I live in a bubble. I never heard of these types of credit cards, but they sure sound like they could be quite useful to people who overspend. Of course, the bonuses encourage people to go farther into debt, but I guess that’s how the credit companies make their money. This page, especially your conclusion, is a useful tool for people who need it
I’m not sure how many of these cards are available down here in Australia, which may explain why I’ve never considered using one before. I’m probably too paranoid to take advantage of the benefits of card-hopping, especially as they all have transfer fees and minimum spends in order to reap the rewards, but I can see how they could be used to reduce debt if you were disciplined in making repayments. For those who need them, it’s good to know what’s available.
As a British person, i don’t think we have half of these sort of credit cards over here and what they can offer. We have 0% balance tranfers etc but we keep it plain and simple here. These sound all good offers but the companies are profiting off peoples bad debt. I know they got to make money but for me, I dont like it. However I need to search for that credit card over here to give me excellent air miles. 😀 (I am one of these guys who puts stuff on the credit cards and quickly repays it)
We are always fascinated by the variety of credit cards that are available in the U.S. I am not sure what cards are available in Canada for balance transfer. We try to pay our cards off each month. But I understand why balance transfer may be attractive for some.
I did not have much knowledge about balance transfer credit cards. I usually just pay credit card bills every month. This is very informative and helpful to those who are interested in the balance transfer card
I must admit these are handly but there is not so much choice available here in the UK vs the USA. They are a great way to consolidate and pay with interest free facility and spread the payments. I have used capital cards here in the UK previously and they did really help. Thanks for sharing something that we could all benefit from whether ravel related or not. You can either benefit from the 0% installments or collect miles and travel more .
I am not aware if such facilities exist on the credit cards here in India. This does sound very helpful, especially from the calculation you showed on $10,000 balance on credit card. I like the idea of how balance transfer credit cards help save money. The welcome offer is quite tempting 😉 🙂
Living in Asia and we don’t even have this! I wish we had more options like the chase freedom card where you have no interest for the first 15 months – that’s insane! I wish every country could use this guide to build something more similar, it’ll make life so much easier and we’ll be able to be on the road as much as possible!
I don’t normally have any piece of great knowledge on credit cards and it is quite fresh to read something related to it. I guess it helps you a lot with your traveling too with all the points, credits, and tie-ups. I would definitely love to try whichever of the cards will be available back at where I stay.