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5 Best Balance Transfer Credit Cards–No Interest Until 2024

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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 2023. Here is our list of the best balance transfer cards available today.

August 2022 Update

Summary of the Best Balance Transfer Cards

Citi® Double Cash Card–Best for Cash Back

I’ve carried the Citi® Double Cash Card for years. In addition to an excellent balance transfer offer, it also pays up to 2% cash back and doesn’t charge an annual fee.

  • 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.
  • 0% Intro APR: Get 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 16.24% - 26.24%, 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+)

Read our Citi® Double Cash Card Review

Citi® Diamond Preferred® Card–Best Long 0% Intro APR

The Citi® Diamond Preferred® Card is a 0% APR card. It offers an excellent balance transfer and doesn’t charge an annual fee. It doesn’t, however, offer rewards.

  • 0% APR: Get 0% Intro APR for 21 months on balance transfers from date of first transfer and 12 months on purchases from date of account opening. After that the variable APR will be 15.99% - 25.99%, 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.

Read our Citi® Diamond Preferred® Card Review

U.S. Bank Visa® Platinum Card–Long 0% Intro APR

The U.S. Bank Visa® Platinum Card earns the top spot for one reason and one reason only–it offers one of the longest 0% intro APR on balance transfers available today. At 20 billing cycles, this card’s 0% APR would last through 2023. It comes with no annual fee, but little in the way of cash back or other rewards.

  • 0% Intro APR: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 16.74% - 26.74%.
  • 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).

Read our U.S. Bank Visa® Platinum Card Review

Wells Fargo Reflect Card–Best for Long 0% APR

For those who want a long 0% intro APR, the Wells Fargo Reflect Card fits the bill. It offers an impressive 0% into APR on balance transfers for up to 18 months. And it does this without charging an annual fee.

  • 0% Intro APR: Up to 18 months on qualifying balance transfers and 18 months on purchases, then the regular APR applies (currently 14.49% - 26.49%)
  • 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

Note that this card does not offer a signup bonus or cash back. If you are willing to accept a somewhat shorter 0% APR, the next card is a solid option.

Read our Wells Fargo Reflect Card Review

U.S. Bank Cash+ Visa Signature Card–Best for Cash Back

For those who want cash back rewards in addition to a solid balance transfer offer, the U.S. Bank Cash+ Visa Signature Card is a top option. It offers an impressive 0% APR balance transfer for 15 billing cycles + up to 5% cash back + a signup bonus. And it does all of this without charging an annual fee.

  • New Cardmember 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 Travel 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 16.74% - 26.74%.
  • Annual Fee: $0
  • Terms and conditions apply

Read our U.S. Bank Cash+ Visa Signature Card Review

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.