A balance transfer card is an important tool to help pay off credit card debt. These cards enable you to move high-interest debt to a new credit card that won’t charge interest for a year or more. Some of the top cards offer a 0% APR well into 2024. Here is our list of the best balance transfer cards available today.
December 2022 Update
We added several cards to this list for December. We also scoured the web to search for approval odds on these cards. Approval odds can help you decide which card may be easier to get than others.
*The credit score data provided for some of the cards listed below are from publicly available information in a number of forums. The accuracy of the information cannot be verified. Keep in mind that credit card issuers consider more than an applicant’s credit score and that underwriting standards change over time.
Summary of the Best Balance Transfer Cards
Citi® Double Cash Card - 18 month BT offer
- Rewards: 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 Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.74% - 27.74%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Annual Fee: $0
- Credit Required: Good to excellent (690+)
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 08/15/2020 | Equifax | ||
| Approved | 05/12/2021 | Equifax | ||
| Approved | 08/26/2022 | Equifax | ||
| Approved | 04/26/2020 | Equifax | ||
| Denied | 09/02/2014 | Experian | ||
| Denied | 06/16/2017 | Experian | ||
| Denied | 09/06/2020 | Equifax | ||
| Denied | 06/13/2021 | Equifax | ||
| Denied | 04/06/2016 | Equifax | ||
| Denied | 09/17/2015 | Experian |
Citi® Diamond Preferred® Card
- 0% APR: 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 16.74% - 27.49%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- Balance Transfer Fee: $5 or 5% of the amount of the transfer, whichever is greater.
- Annual Fee: $0
- Get free access to your FICO® Score online.
- With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 06/09/2018 | Equifax | ||
| Approved | 01/09/2017 | Equifax | ||
| Approved | 05/20/2018 | Not Provided | ||
| Approved | 07/01/2020 | Equifax | ||
| Denied | 04/04/2021 | Equifax |
U.S. Bank Visa® Platinum Card
- 0% Intro APR: 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 18.24% - 28.24%.
- Annual Fee: $0
- Benefits: Choose your own payment due date that fits your schedule. Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa(R) Platinum Credit Card. Certain terms, conditions, and exclusions apply.
- Terms and conditions apply.
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 04/22/2021 | Not Provided | ||
| Approved | 01/31/2021 | Not Provided | ||
| Approved | 07/30/2021 | Not Provided | ||
| Denied | 05/18/2019 | Not Provided |
U.S. Bank Cash+ Visa Signature Card
- Welcome Bonus: Earn $200 bonus cash after spending $1,000 within your first 120 days.
- 5% cash back on your first $2,000 in eligible net purchases each quarter on two categories you choose
- 5% cash back on prepaid air booked directly in the Rewards Center
- 2% cash back on your choice of one everyday category, like gas stations/EV charging stations, grocery stores or restaurants
- 1% cash back on all other eligible net purchases
- 0% Intro APR: 0% Intro APR on purchases and balance transfers for the first 15 billing cycles. After that, a variable APR currently 18.24% - 28.24%.
- Annual Fee: $0
- Terms and conditions apply
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 08/03/2020 | TransUnion | ||
| Approved | 08/18/2017 | Experian | ||
| Approved | 06/06/2019 | Experian | ||
| Approved | 07/16/2018 | TransUnion | ||
| Approved | 04/02/2020 | TransUnion | ||
| Denied | 07/19/2021 | Experian |
Union Bank® Platinum™ Visa® Credit Card
- 0% Intro APR: 15 months for balance transfers and purchases, then a variable APR of 12.24% to 23.74%.
- Annual Fee: $0
- Benefits: $0 intro balance transfer fee for transfers made within 60 days of account opening, then the balance transfer fee is 3% of each transfer (minimum $10).
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 04/30/2022 | Equifax | ||
| Approved | 06/07/2022 | Not Provided | ||
| Denied | 03/08/2019 | Equifax |
Chase Freedom Unlimited®
- 0% APR: Get 0% on balance transfers and purchases for 15 months after account opening. After that, the APR will be 18.74% - 27.49% variable, depending on creditworthiness.
- Balance Transfer Fee: Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that: Either $5 or 5% of the amount of each transfer, whichever is greater.
- Annual Fee: $0
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 03/04/2022 | TransUnion | ||
| Approved | 03/04/2022 | Experian | ||
| Approved | 02/16/2022 | Experian | ||
| Approved | 02/16/2022 | TransUnion | ||
| Approved | 02/16/2022 | Equifax | ||
| Approved | 03/02/2022 | TransUnion | ||
| Approved | 06/07/2021 | Experian | ||
| Approved | 08/01/2021 | Equifax | ||
| Approved | 08/01/2021 | Experian | ||
| Approved | 08/01/2021 | TransUnion | ||
| Denied | 09/16/2019 | Equifax | ||
| Denied | 09/16/2019 | TransUnion | ||
| Denied | 06/13/2019 | Experian | ||
| Denied | 06/13/2019 | TransUnion |
Chase Freedom Flex(SM)
- 0% APR: Get 0% on balance transfers and purchases for the first 15 months after account opening. After that, the APR will be 18.74% - 27.49% variable, based on creditworthiness.
- Balance Transfer Fee: Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that: Either $5 or 5% of the amount of each transfer, whichever is greater.
- Annual Fee: $0
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 05/13/2022 | Experian | ||
| Approved | 08/27/2022 | Experian | ||
| Approved | 08/27/2022 | TransUnion | ||
| Approved | 10/01/2022 | Experian | ||
| Approved | 04/12/2021 | Experian | ||
| Approved | 11/01/2022 | Experian | ||
| Approved | 04/04/2022 | Experian | ||
| Approved | 10/01/2020 | Experian |
Wells Fargo Reflect Card
- 0% Intro APR: 18 months on qualifying balance transfers and 18 months on purchases, then the regular APR applies (currently 16.74% - 28.74%). Intro APR extension for 3 months with on-time minimum payments during the introductory period.
- Wells Fargo Deals: Earn cash back statement credits from select merchants.
- Benefits: Cell phone protection, 24/7 roadside assistance, and zero liability protection
- Annual Fee: $0
Citi Simplicity® Card
- 0% APR: Get 0% on balance transfers for 21 months and 0% on purchases for 12 months. After that, the APR will be 17.74% - 28.49% variable, depending on creditworthiness.
- Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater for the first four months of account opening, after that balance transfer fee of $5 or 5% after first four.
- Annual Fee: $0
Approval Odds*
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 12/31/2018 | Equifax | ||
| Approved | 12/31/2018 | Experian | ||
| Approved | 12/31/2018 | TransUnion | ||
| Approved | 01/27/2019 | Experian | ||
| Approved | 01/27/2019 | TransUnion | ||
| Approved | 01/27/2019 | Equifax | ||
| Approved | 11/07/2021 | Equifax |
Chase Slate Edge(SM)
- 0% APR: Get 0% APR on balance transfers and purchases for the first 18 months the account is open. After that, the APR will be 18.74% - 27.49% variable depending on creditworthiness. You may be considered for a 2% reduction in APR if you meet the criteria.
- Balance Transfer Fee: Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that: Either $5 or 5% of the amount of each transfer, whichever is greater.
- Annual Fee: $0
How to Choose the Best Balance Transfer Offer
Finding 0% balance transfer cards is the easy part. Choosing the best option for your specific circumstances, however, requires a lot more than just comparing transfer fees and length of the 0% introductory rate. In fact, there are several questions you should consider before making a choice. What might be the best option for one person many not be the wisest choice for another.
Here are 6 things to consider.
1. How much debt you have
The amount of credit card debt you have is an important consideration for at least two reasons. First, you may or may not qualify for enough credit on a balance transfer card to cover all of your existing credit card debt. This may mean you need to apply for multiple offers if you want to move all of the debt to a 0% card.
Second, your monthly minimum payment may be higher than what you are paying now. While two percent of the outstanding balance is a common minimum payment formula, not all issuers follow this standard. You’ll want to make sure you understand what the minimum payment will be and that your budget can handle it.
2. Which cards hold your debt now
Credit card issuers do not allow you to transfer debt from one of their cards to another. If you have debt on a Citibank card, for example, you can’t transfer it to another Citibank card. This is particularly important to remember when searching for balance transfer cards. You may find a great offer, but it won’t do you much good if it’s with the same issuer that currently holds your debt.
3. Your credit score
Credit card issuers don’t publish their underwriting standards, including the credit score needed to qualify for one of their cards. The best card offers, however, require a good credit score. While there is no minimum score required, in my experience you want to aim for a FICO score of at least 700. Keep in mind that other factors are important, too, such as your income, debt levels, and history with the credit card issuer.
If you don’t know your credit score, there are several free tools available to get access to your score. One of the free options is credit card issuers. Most major issuers today provide free access to your credit score. You’ll find a list of those issuers here.
4. Time to pay off the debt
Most of the top balance transfer cards today offer 0% for 12 to 20 months. Before transferring a balance, assess whether you’ll be able to pay off the debt before the 0% introductory rate ends. If you can pay off the debt in 15 months, for example, you’ll then want to look for offers of 15 months or longer.
5. Life After the 0% Offer
Make a plan for when the 0% offer expires. In our case, we continued to transfer the balances until we paid off our credit card debt in full. While this is a reasonable option, there are at least two potential hurdles.
First, there is no guarantee that 0% offers will be available a year or two from now. While balance transfer cards have been part of the credit card landscape for many years, all good things eventually come to an end. In fact, many major issuers left the balance transfer space last year because of Covid, including Chase, American Express and Capital One.
Second, even if these offers are available down the road, there is no guarantee that you’ll qualify for them. As noted above, these offers require a good to excellent credit score.
One way to prepare is to understand what the interest rates will be at the end of the 0% offer. As the CFPB has noted, it’s important to understand the interest rate over the life of the new card, not just the introductory rate. All credit card issuers make this information available to you. During the application process, the regular APR is typically stated as a range based on your creditworthiness. If your application is approved, however, you’ll know then what the regular APR is. While this can of course change, you’ll at least have some idea of the consequences should you be unable to pay off the debt before the zero percent rate expires.
6. Other credit card perks
Finally, it’s worth considering the perks beyond the 0% offer. Some of the best balance transfer cards come with no rewards, as noted above. There are, however, several good balance transfer cards that offer cash back rewards.
For additional balance transfer offers, check out this resource.
