Credit card interest rates are typically in the double digits, so carrying a balance on your credit card can cost you a lot. But one way to get that debt under control is to choose the right card.

Considering how high credit card APRs are, there's a lot of room to save money with a balance transfer credit card. These cards offer no interest on balance transfers for up to 21 months. During the introductory 0% APR period, you can pay off debt more quickly because you won't be paying interest.

Below, CNBC Select rounds up some of the best balance transfer credit cards and summarizes what you need to know about using a balance transfer card. (See our methodology for information on how we chose the best balance transfer credit cards.)

Best with intro 0% APR for 21 months

Wells Fargo Reflect® Card

Wells Fargo Reflect® Card

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On Wells Fargo's secure site
  • Rewards

    None

  • Welcome bonus

    None

  • Annual fee

    $0

  • Intro APR

    0% intro APR for 21 months from account opening on purchases and qualifying balance transfers.

  • Regular APR

    18.24%, 24.74%, or 29.99% Variable APR

  • Balance transfer fee

    5%, min: $5

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

See rates and fees, terms apply.

  • No annual fee
  • Long introductory APR period on purchases and qualifying balance transfers
  • Access to Visa Signature® Concierge
  • Get up to $600 cell phone protection (subject to a $25 deductible)
  • Access to My Wells Fargo Deals to earn cash back in the form of an account credit when shopping, dining
  • No rewards
  • No welcome bonus
  • 3% fee charged on foreign transactions

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Who's this for: The Wells Fargo Reflect® Card has one of the longest introductory 0% APR periods for purchases and balance transfers.

Balance transfer offer: Balance transfers you make within 120 days of account opening qualify for a 0% intro APR for 21 months, after that a variable 18.24%, 24.74% or 29.99% APR applies. The balance transfer fee is 5% of each transfer with a $5 minimum.

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Citi Simplicity® Card

Citi Simplicity® Card

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On Citi's Secure Site
  • Rewards

    None

  • Welcome bonus

    None

  • Annual fee

    $0

  • Intro 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.

  • Regular APR

    19.24% - 29.99% variable

  • Balance transfer fee

    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).

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

  • No annual fee
  • Balances can be transferred within 4 months from account opening
  • One of the longest intro periods for balance transfers
  • 3% foreign transaction fee
  • No rewards program

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Who's this for: The Citi Simplicity® Card has a generous 0% APR period for balance transfers and a lower balance transfer fee than other options.

Balance transfer offer: When you transfer a balance to the Citi Simplicity card within the first four months from account opening, you'll receive an intro 0% APR on that balance for 21 months. Then a variable 19.24% - 29.99% APR applies. An intro balance transfer fee of 3% of the amount you transfer ($5 minimum) applies to transfers you make in the first four months, after that a fee of 5% of the amount you transfer applies ($5 minimum). The intro fee is lower than the balance transfer fee for some cards with a similar 0%-APR timeframe such as the Citi® Diamond Preferred® Card.

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Citi® Diamond Preferred® Card

Citi® Diamond Preferred® Card

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On Citi's Secure Site
  • Rewards

    None

  • Welcome bonus

    None

  • Annual fee

    $0

  • Intro APR

    0% for 21 months on balance transfers; 0% for 12 months on purchases

  • Regular APR

    18.24% - 28.99% variable

  • Balance transfer fee

    5% of each balance transfer; $5 minimum. Balance transfers must be completed within 4 months of account opening.

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

See rates and fees. Terms apply.

  • No annual fee
  • Balances can be transferred within 4 months from account opening
  • One of the longest intro periods for balance transfers
  • 3% foreign transaction fee

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Who's this card for: The Citi® Diamond Preferred® Card is a great option for those with good or excellent credit seeking a long introductory 0% APR period.

Balance transfer offer: Cardholders get 0% intro APR for 21 months on balance transfers from the date of the first transfer (18.24% - 28.99% variable APR afterward). There is a balance transfer fee of $5 or 5% of the amount of the transfer, whichever is greater.

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Best with intro 0% APR for 18 months

Citi Double Cash® Card

Citi Double Cash® Card

  • 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. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24

  • Welcome bonus

    Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

  • Annual fee

    $0

  • Intro APR

    0% for the first 18 months on balance transfers; N/A for purchases

  • Regular APR

    19.24% - 29.24% variable

  • Balance transfer fee

    For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies

  • Foreign transaction fee

    3%

  • Credit needed

    Fair/Good/Excellent

  • See rates and fees, terms apply.

  • 2% cash back on all eligible purchases
  • Simple cash-back program that doesn't require activation or spending caps
  • One of the longest intro periods for balance transfers at 18 months
  • 3% fee charged on purchases made outside the U.S.

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  • Estimated rewards earned after 1 year: $443
  • Estimated rewards earned after 5 years: $2,213

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Who's this for: The Citi Double Cash® Card is one of the best cash-back cards, on top of featuring a generous balance transfer offer.

Balance transfer offer: With the Citi Double Cash Card, you can enjoy a 0% intro APR for the first 18 months on balance transfers you complete in the first four months of account opening. After the intro APR expires, a variable 19.24% - 29.24% APR applies. The balance transfer fee is 3% of the amount you transfer ($5 minimum) within the first four months, then the balance transfer fee increases to 5% of any amount you transfer ($5 minimum).

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Discover it® Chrome

Discover it® Chrome

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On Discover's secure site
  • Rewards

    Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.

  • Welcome bonus

    Discover will match all the cash back earned for all new cardmembers at the end of your first year.

  • Annual fee

    $0

  • Intro APR

    0% for 6 months on purchases; 0% for 18 months on balance transfers

  • Regular APR

    17.24% to 28.24% Variable

  • Balance transfer fee

    3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*

  • Foreign transaction fee

    None

  • Credit needed

    Good / Excellent

  • *See rates and fees, terms apply.

  • Cash-back program
  • Generous welcome bonus
  • Cash-back program limits earnings: 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%

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Who's this for: The Discover it® Chrome is an ideal Discover credit card for transferring credit card balances.

Balance transfer offer: You'll get 18 months of a 0% intro APR on eligible balance transfers with the Discover it® Chrome. For purchases, you'll get an intro 0% APR for six months. After the 0% intro APR offers expire, a variable 17.24% to 28.24% APR applies. The card has a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.

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BankAmericard® credit card

BankAmericard® credit card

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Information about the BankAmericard® credit card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
  • Rewards

    This card doesn't offer cash back, miles or points.

  • Welcome bonus

    No current offer

  • Annual fee

    $0

  • Intro APR

    0% Introductory APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days.

  • Regular APR

    16.24% to 26.24% variable APR on purchases and balance transfers

  • Balance transfer fee

    3% of the amount of each transaction

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

See our methodology, terms apply.

  • No annual fee
  • One of the longest 0%-APR intro periods
  • 3% foreign transaction fee
  • No rewards program

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  • Transfer timeline: Balances must be transferred within 60 days from account opening
  • Estimated total fees and interest on debt repayment: $404

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Who's this for: The BankAmericard® credit card is a good option for anyone who wants over a year without interest on balance transfers.

Balance transfer offer: Bankamericard members receive an introductory period of 18 months with 0% APR for balance transfers made in the first 60 days. After that, a variable 16.24% - 26.24% APR will apply. The balance transfer fee is 3% of the amount of each transaction.

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Chase Slate Edge℠

Chase Slate Edge℠

  • Rewards

    None

  • Welcome offer

    Get an automatic review for a credit limit increase when you pay on time and spend $500 in your first six months.

  • Annual fee

    $0

  • Intro APR

    0% for 18 months from account opening on purchases and balance transfers

  • Regular APR

    20.49% - 29.24% variable

  • 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.

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

Member FDIC. Terms apply. Information about the Chase Slate Edge℠ has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

  • No annual fee
  • Lower your interest rate by 2% each year: Automatically be considered for an APR reduction when you pay on time, and spend at least $1,000 on your card by your next account anniversary
  • 3% foreign transaction fee
  • No rewards program

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Who's this for: The Chase Slate Edge℠ offers introductory 0% APR timeframes for balance transfers and purchases.

Balance transfer offer: Chase Slate Edge cardholders have an intro 0% APR for 18 months on eligible balance transfers, then a variable 20.49%–29.24% APR applies. An intro balance transfer fee of 3% of the amount transferred ($5 minimum) applies to transfers you make in the first 60 days. After that, the balance transfer fee is 5% of the amount transferred ($5 minimum).

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U.S. Bank Visa® Platinum Card

U.S. Bank Visa® Platinum Card

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Information about the U.S. Bank Visa® Platinum Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
  • Rewards

    None

  • Welcome bonus

    None

  • Annual fee

    $0

  • Intro APR

    0% for the first 18 billing cycles on balance transfers and purchases

  • Regular APR

    18.74% - 29.74% (Variable)

  • Balance transfer fee

    An introductory fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, for balances transferred within 60 days of account opening. After that, either 5% of the amount of each transfer or $5 minimum, whichever is greater

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

Terms apply.

  • No annual fee
  • Cell phone protection plan
  • No rewards program
  • Has a foreign transaction fee
  • Balances must be transferred within 60 days from account opening

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Who's this for: The U.S. Bank Visa® Platinum Card has a generous 0% APR timeframe for balance transfers and new purchases.

Balance transfer offer: Cardholders can take advantage of a 18 month 0% intro APR period on balance transfers they make within 60 days of opening the account. After the intro APR expires, a variable 18.74% to 29.74% APR applies. There is an introductory balance transfer fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, for balances transferred within 60 days of account opening. After that, either 5% of the amount of each transfer or $5 minimum, whichever is greater.

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Best with intro 0% APR for 15 months

Wells Fargo Active Cash® Card

Wells Fargo Active Cash® Card

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On Wells Fargo's secure site
  • Rewards

    Unlimited 2% cash rewards on purchases

  • Welcome bonus

    Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months

  • Annual fee

    $0

  • Intro APR

    0% intro APR for 15 months from account opening on purchases and qualifying balance transfers; balance transfers made within 120 days qualify for the intro rate

  • Regular APR

    20.24%, 25.24%, or 29.99% Variable APR

  • Balance transfer fee

    3% intro for 120 days from account opening then BT fee of up to 5%, min: $5

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

See rates and fees, terms apply.

  • Unlimited cash rewards
  • $200 cash rewards welcome bonus
  • No annual fee
  • Introductory APR period for first 15 months
  • Access to Visa Signature® Concierge
  • Get up to $600 cell phone protection (subject to a $25 deductible)
  • 3% fee charged on foreign transactions

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Who's this for: The Wells Fargo Active Cash® Card is valuable because of its intro APR offer but even without that, it stands out as a top-notch cash-back card.

Balance transfer offer: Cardmembers can transfer balances in the first 120 days from opening the account and receive an intro 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5

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Chase Freedom Unlimited®

Chase Freedom Unlimited®

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On Chase's Secure site
  • Rewards

    Enjoy 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 3% cash back on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

  • Welcome bonus

    INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

  • Annual fee

    $0

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    20.49% - 29.24% variable

  • 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.

  • Foreign transaction fee

    3% of each transaction in U.S. dollars

  • Credit needed

    Excellent/Good

  • Member FDIC. Terms apply.

  • No annual fee
  • Rewards can be transferred to a Chase Ultimate Rewards card
  • Generous welcome bonus
  • 3% fee charged on foreign transactions

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Who's this for: The Chase Freedom Unlimited® is an excellent cash-back card to consider if you want to earn rewards while paying down your credit card debt.

Balance transfer offer: Chase Freedom Unlimited® cardmembers can transfer balances and receive an intro 0% APR for the first 15 months, then a variable 20.49% - 29.24% APR applies. An intro balance transfer fee of 3% of the amount you transfer ($5 minimum) applies for the first 60 days. After that, the balance transfer fee increases to 5% of the amount you transfer ($5 minimum).

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Chase Freedom Flex®

Chase Freedom Flex®

  • Rewards

    5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases

  • Welcome bonus

    Earn a $100 bonus after you spend $500 on purchases in the first 3 months from account opening. Plus, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year.

  • Annual fee

    $0

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    20.49% - 29.24% variable

  • 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.

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

  • Member FDIC. Terms apply. Information about the Chase Freedom Flex® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

  • No annual fee
  • Generous welcome bonus
  • Opportunity to earn up to 5% cash back in select categories upon activation
  • Rewards can be transferred to a Chase Ultimate Rewards card
  • Bonus categories must be activated each quarter
  • 3% fee charged on foreign transactions

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Who's this for: The Chase Freedom Flex® offers a high return in rotating bonus categories to go along with its intro 0% APR offer.

Balance transfer offer: Chase Freedom Flex card holders can transfer balances and take advantage of an intro 0% APR for 15 months, then a variable 20.49%–29.24% APR applies. This card's intro balance transfer fee is 3% of the amount you transfer ($5 minimum) within the first 60 days of account opening. Afterward, the balance transfer fee is 5% of the amount you transfer ($5 minimum).

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More on our top balance transfer cards

Wells Fargo Reflect® Card

The Wells Fargo Reflect® Card is one of the best options if you want to save money on credit card interest and not pay an annual fee.

Rewards

None

Welcome bonus

None

Annual fee

$0

Notable benefits

When you pay your monthly cell phone bill with your Wells Fargo Reflect card, you'll qualify for cell phone insurance. This protection will reimburse you up to $600 per claim with a $25 deductible. You are limited to two claims per 12 months.

This card's intro 0% APR for purchases lasts for 21 months with a variable 18.24%, 24.74% or 29.99% APR after that.

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Citi Simplicity® Card

The Citi Simplicity® Card can help you pay down credit card debt with its intro 0%-APR offer and lower intro fee for balance transfers.

Rewards

None

Welcome bonus

None

Annual fee

$0

Notable benefits

This card doesn't offer many notable benefits, but as a Citi credit card, cardholders have access to the events and experiences available through Citi Entertainment.

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Citi® Diamond Preferred® Card

The Citi® Diamond Preferred® Card offer a long introductory interest-free period for qualifying balance transfers and purchases, but unfortunately, doesn't earn rewards.

Rewards

None

Welcome bonus

None

Annual fee

$0

Notable benefits

On top of this cards intro 0% APR for balance transfer for 21 months, this card also offers an intro 0% APR for purchases lasts for 12 months both with a variable 18.24% - 28.99% APR after that. Cardholders have access to free access to their FICO Scores and access to special events and experiences available through Citi Entertainment.

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Citi Double Cash® Card

When it comes to no-annual-fee cash-back cards, the Citi Double Cash® Card is one of the most rewarding for everyday spending.

Rewards

  • Earn 2% back on every purchase (1% back when you buy, plus an additional 1% as you pay for those purchases)
  • Earn 5% total cash back on hotels, car rentals and attractions booked through the Citi Travel site by Dec. 31, 2024.

Welcome bonus

Earn a $200 bonus after spending $1,500 on purchases in the first six months of account opening.

Annual fee

$0

Notable benefits

This is a cash-back card at its core, but you earn cash back as Citi ThankYou® Points, which expands your redemption options. Cardholders can transfer their ThankYou points to a handful of travel partners, including Choice Hotels, Wyndham Hotels and JetBlue. However, if you pair this card with a Citi credit card that enables full transfers, like the Citi Strata Premier Card (see rates and fees), you can transfer your points to all of Citi's travel partners at improved ratios.

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Discover it® Chrome

The Discover it® Chrome is a no annual fee cash-back card that can help you pay less interest on credit card debt and new purchases.

Rewards

  • 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1% cash back
  • 1% cash back on all other purchases

Welcome bonus

Discover will match the cash back you earn at the end of your first year.

Annual fee

$0

Notable benefits

On new purchases, you'll receive a 0% intro APR for 6 months, then a 17.24% to 28.24% variable APR applies. However, for eligible balance transfers the intro-0%-APR period lasts for 18 months, after that the same 17.24% to 28.24% variable APR applies. There's also an intro balance transfer fee of 3% and a balance transfer fee of up to 5% on future balance transfers. There are no foreign transaction fees.

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BankAmericard® credit card

The BankAmericard® credit card is one of the best Bank of America credit cards for intro 0% APR offers.

Rewards

None

Welcome bonus

None

Annual fee

$0

Notable benefits

Cardholders receive an intro 0% APR for the first 18 statement cycles for purchases (in addition to qualifying balance transfers), then a variable 16.24% - 26.24% applies.

This card is designed for consumers who want to save on interest for purchases or balance transfers, and outside of that benefit, it has no notable perks.

[ Return to card summary ]

Chase Slate Edge℠

The Chase Slate Edge℠ is one of the best Chase credit cards for helping you pay less interest and get out of credit card debt faster.

Rewards

None

Welcome bonus

None

Annual fee

$0

Notable benefits

You'll get a 0% intro APR for 18 months on purchases, then a variable 20.49%–29.24% APR applies. Cardholders are eligible for an automatic 2% APR reduction after spending at least $1,000 within a card anniversary year and making all their payments on time. You can also earn an automatic one-time review for a higher credit limit after spending at least $500 during your first six months of card membership and making on-time payments during the same period.

Cardmembers can also enroll to receive three free months of DoorDash DashPass membership (activate by Dec. 31, 2024) and three free months of Instacart+ membership (enroll by July 31, 2024). Both services offer no delivery fees and reduced service fees on eligible orders.

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U.S. Bank Visa® Platinum Card

The U.S. Bank Visa® Platinum Card is an ideal card for anyone who wants to save on interest for new purchases and balance transfers.

Rewards

None

Welcome bonus

None

Annual fee

$0

Notable benefits

Cardholders are eligible for cell phone protection of up to $600 per claim. There's a $25 deductible and a limit of two claims every 12 months. You'll need to charge your monthly cell phone bill to your U.S. Bank Visa Platinum Card to qualify for this coverage.

This card's intro 0% APR for purchases lasts for the first 18 billing cycles, after that a variable 18.74% to 29.74% APR applies.

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Wells Fargo Active Cash® Card

The Wells Fargo Active Cash® Card is also an excellent cash-back card and has no annual fee.

Rewards

  • 2% back on all purchases

Welcome bonus

Earn a $200 cash rewards bonus after making $500 in purchases in the first three months from account opening.

Annual fee

$0

Notable benefits

Cardmembers receive an intro 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5. You can save on cell phone insurance when you pay your wireless phone bill with your Wells Fargo Active Cash card. With this coverage, you can make up to two claims per year, and each claim will reimburse you a maximum of $600 with a $25 deductible. Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible

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Chase Freedom Unlimited®

The Chase Freedom Unlimited® is a no annual fee card that provides a better-than-average rate of return on all purchases.

Rewards

On up to $20,000 spent in the first year:

  • 6.5% cash back on travel purchased through Chase Travel
  • 4.5% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service)
  • 3% on all other purchases

After your first year or $20,000 spent:

  • 5% back on travel purchased through Chase Travel
  • 5% back on Lyft rides (through March 2025)
  • 3% back at drugstores
  • 3% back on dining at restaurants (including takeout and eligible delivery services)
  • 1.5% on all other purchases.

Welcome bonus

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

Annual fee

$0

Notable benefits

This card offers an intro 0% APR on purchases for the first 15 months from account opening, then a variable 20.49% to 29.24% APR applies.

Cardholders get three free months of DoorDash DashPass and 50% off their membership for nine months afterward (enrollment required, activate by Dec. 31, 2024). You can also enroll to receive three free months of Instacart+ membership and get $10 in quarterly Instacart credit through July 31, 2024.

Eligible purchases also qualify for extended warranty protection, purchase protection and trip cancellation/interruption insurance.

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Chase Freedom Flex®

The Chase Freedom Flex® has a solid intro 0% APR offer and is a great rewards credit card on top of that.

Rewards

  • 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter (activation required).
  • Earn 5% cash back on travel purchased through the Chase travel portal
  • 5% back on Lyft rides through March 2025
  • Earn 3% cash back on dining at restaurants, including takeout and eligible delivery services
  • Earn 3% cash back at drugstores
  • Earn 1% cash back on all other purchases

Welcome bonus

Earn a $100 bonus after you spend $500 on purchases in the first 3 months from account opening. Plus, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year.

Annual fee

$0

Notable benefits

Cardholders receive an introductory 0% APR for 15 months on purchases, then a variable 20.49%–29.24% APR applies. You can also save on delivery fees with three free months of DashPass (enroll by Dec. 31, 2024) and three free months of Instacart+ (enroll by July 31, 2024). After enrollment, cardholders can also receive up to $10 in statement credits each quarter for Instacart purchases through July 31, 2024.

This card also has insurance benefits, such as cell phone protection, purchase protection, extended warranty protection and trip cancellation/interruption coverage.

[ Return to card summary ]

Enter to win an iPad from CNBC Select. We're giving away an iPad to one lucky winner who fills out our survey about personal finance interests and habits(NO PURCHASE NECESSARY. Void where prohibited. Legal residents of the 50 US states or DC who are 18 or older. Ends 5/8/24. Limit 1 entry per person. Sponsors: CNBC Select and NBCUniversal Media, LLC.)

How to use a balance transfer card

Before you take advantage of a balance transfer offer, there are some things you should keep in mind:

  • Transfers can't be made between cards from the same bank. For example, if you have a Chase credit card, you can't transfer the debt to another Chase card.
  • You may incur a fee. Most, but not all, of these cards charge a balance transfer fee. It's usually 3% to 5% of the amount you transfer. For example, transferring $5,000 with a 3% fee will cost you $150. This fee is charged to the balance transfer card, rather than the original card.
  • Transfers need to be completed within a certain number of days from account opening. If you wait too long to make a transfer, you may miss out on the 0% APR period. For example, the BankAmericard® credit card requires transfers to be completed within 60 days from account opening. So if you want to complete a Bank of America balance transfer you'll have two months from your card's approval date.
  • There are limits on how much debt you can transfer. Card issuers typically limit the amount you can transfer to a percentage of your total credit limit or a specific dollar amount. And issuers also factor in the total cost of the balance transfer, which includes any balance transfer fees.
  • Many balance transfer cards require good or excellent credit. If you have less than stellar credit, it can be difficult to qualify for a balance transfer card.

Pros and cons of a balance transfer card

By taking advantage of a balance transfer you may be able to secure a lower interest rate and save money, especially if you're taking advantage of a 0% offer. A balance transfer can also be a good way to consolidate credit card debt into a single payment. Plus, paying down your credit card can ultimately boost your credit score, especially by lowering your credit utilization rate.

However, there are tradeoffs to using a balance transfer. For example, balance transfers often have a fee, which is typically a percentage of the amount you transfer. And if you're taking advantage of a 0%-APR offer, you'll start paying interest again once the introductory period expires. So even if you use a balance transfer, you'll still want to be diligent in paying down your credit card balance. Also, many balance transfer cards require a good to excellent credit score (or a FICO score of at least 680).

Balance transfer credit card FAQs

What is the difference between a money transfer and a balance transfer?

Money transfers and balance transfers are not the same. A money transfer is when you move funds from one account to another, either at the same bank or between accounts at different financial institutions. A balance transfer is when you move debt from one credit card to another.

Do banks do balance transfers?

Banks only allow balance transfers between credit card accounts. And banks will not allow you to transfer balances between two cards issued by the same bank. If you want to do a balance transfer, you'll need to open a new credit card with a different card issuer.

Do balance transfers always work?

Whether a balance transfer works out depends on what your goal is. If you want to pay less interest and pay off your debt faster, that will need to be your focus during the promotional APR period. But if you continue to grow your credit card balance, then the balance transfer may not have helped your situation as much as it could have.

Do balance transfers hurt your credit?

Applying for a new credit card will typically 'ding' your credit score (although the drop is usually small and temporary), but the balance transfer itself doesn't hurt your credit. However, if the balance transfer card has a low credit limit and you transfer over a high amount of debt, your credit utilization ratio will go up, which could hurt your credit score. You typically want to keep your credit utilization ratio under 30%.

Is it worth getting a balance transfer?

Balance transfers are good options for consolidating credit card debt. However, be sure to calculate how much it will cost to transfer the balance versus how much in interest fees you'll accrue by simply paying down the balance on your current credit card.

How do you qualify for a balance transfer?

Balance transfer credit cards are typically for consumers with good to excellent credit scores. If you're approved for a balance transfer offer, you'll want to take advantage of it quickly as they are limited-time offers.

Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™.

Bottom line

Using a balance transfer credit card to consolidate and pay off credit card debt is a great strategy to save on interest charges. However, it also needs to be met by cutting back on credit card spending as doing this multiple times over isn't recommended.

Before you apply for a balance transfer credit card you may want to check your credit score using a credit monitoring service like Chase Credit Journey or CreditWise to make sure it's up to par.

Lastly, and more importantly, you'll want to have a budget set in place. Without a sturdy budget, you may find yourself digging deeper into credit card debt.

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best balance transfer credit cards.

Our methodology

To determine which cards have the best value for 0%-APR offers, CNBC Select analyzed over 250 major credit cards issued through FDIC-insured banks and NCUA-insured credit unions that are widely available in the U.S.  

We compared each card on a range of features, including rewards (e.g., cash back, points and miles), annual fees, welcome bonuses, introductory and standard APR and balance transfer fees and foreign transaction fees. We also considered additional perks (e.g., ongoing travel or merchant statement credits), cardholder protections (e.g., purchase protection, $0 liability protection and travel insurance), the application process when available (e.g., is there a credit pull or required credit score) and how easy it is to redeem points (e.g., are rewards are tied to a specific brand; if transferable, to how many/which partners, can you redeem for straight cash back). 
 
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.  

For the cards that offered a rewards program, we considered consumer spending data forecasts from location intelligence firm Esri to determine where U.S. consumers are spending the most money, like on dining and travel. We used this to help determine what bonus categories are most useful for consumers. Since the value of a point or mile varies based on what they can be redeemed for, we also considered things like transferability and the ability to redeem for cash-back. 

When choosing the best 0%-intro-APR credit cards, we focused on cards that offer longer intro-APR periods. We also placed a special emphasis on balance transfer fees and whether the cards offered intro APRs for purchases, balance transfers or both. 

For rates and fees of the Discover it® Chrome, click here.

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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.