20-month balance transfer credit cards October 2018 | finder.com
24-month-balance-transfer

What 20-month 0% APR balance transfer credit cards are out there?

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Pay no interest when you transfer your debt to a 20-month balance transfer card.

If you’re struggling to pay off credit card debt, moving the balance to a card that offers 0% APR for 20 months could help you save on interest and pay down your debt faster. But, what cards are out there that offer a 20 month intro period? You may be hard pressed to find many options beyond ones like the U.S. Bank Visa® Platinum Card, but take a look at our comparison table to see other offers including 12 months and more.

What is a 20-month balance transfer credit card?

These cards let you transfer a balance from one or more existing credit cards to a new card with a long introductory 0% APR. At the end of the introductory period, any unpaid debt from the balance transfer is charged interest at the standard — or revert rate — for that card, which can be as high as 22%.

If you have a lot of debt to pay off, getting a card with an introductory 0% APR for 20 months could help you pay off the entire debt before the higher standard interest rate applies. But keep in mind that only your balance transfer debt is eligible for the introductory 0% APR and any new purchases you make will be charged interest at the standard purchase rate.

Making payments on a balance transfer credit card

Even if a balance transfer credit card offers 0% APR, you’ll still need to pay at least the minimum amount listed on your statement by the due date. If you want to pay off your debt before the introductory period ends, you’ll also need to pay more than the minimum amount each month.

Do 24-month balance transfer credit cards exist?

In the US, you’d be hard pressed to find a balance transfer card that offers 0% for longer than 20 months. A long balance transfer card in the US is considered 6 to 20 months, and can save you 100s of dollars in APR fees, if you stay focused on paying more each month.

How to compare cards

Consider these details when comparing different balance transfer credit cards, including ones with 20 month intro periods:

  • Promotional balance transfer rates and fees. Most of these cards offer 0% APR for a 20-month introductory period, although some may offer even longer low APR periods. Depending on the card, you could also pay a one-off balance transfer fee, which is usually around 3% to 5% of the total debt you transfer. If the introductory interest rate is not 0% or if there is a balance transfer fee, you’ll need to consider the cost compared to other long-term balance transfer options.
  • Annual fee. Most balance transfer credit cards charge an annual fee. Sometimes it’s waived in the first year. Either way, make sure that the annual fee is affordable based on your debt, repayments and the other features of the card.
  • Standard interest rate. After the introductory period, any remaining balance from your transfer is charged interest at the revert rate for that card — and can be as high as 22%. Also, any new purchases are charged interest at the card’s purchase rate, and can affect how long it takes to pay off your balance transfer.

Compare credit cards with 0% APR on balance transfers

Name Product Annual Fee Credit Score Min. Intro Balance Transfer APR Reward Value per Dollar Secured or Unsecured Introductory Balance Transfer APR APR (Annual Percentage Rate) for Purchases Annual Fee Minimum Credit Score
680
0%
1
Unsecured
0% for the first 15 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
$0
Fair (660-699)
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees
720
0%
Unsecured
0% for the first 15 months (then to variable)
13.99% variable
$0
Good (700-739)
A low, variable APR on purchases, balance transfers and cash advances.
95
680
0%
1
Unsecured
0% for the first 12 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
$95
Fair (660-699)
Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
995
715
0%
2
Unsecured
0% for the first 15 billing cycles (then 16.99% variable)
16.99% variable
$995
Good (700-739)
Earn points every time you spend. Luxury Card enhances your purchasing power by providing you with one (1) point for every one dollar ($1) you spend. Every purchase gets you closer to the rewards you want.
680
0%
Unsecured
0% for the first 20 billing cycles (then 11.99% to 23.99% variable)
11.99% to 23.99% variable
$0
Fair (660-699)
Special 0% introductory APR* on purchases and balance transfers for the first 20 billing cycles and after that, a variable APR, currently 11.49% - 23.49%,* based on your creditworthiness.
670
0%
1
Unsecured
0% for the first 18 billing cycles (then 14.49% to 24.49% variable)
14.49% to 24.49% variable
$0
Fair (660-699)
0% introductory APR on balances for 18 billing cycles within the first 90 days of opening your account.
720
0%
1
Unsecured
0% for the first 12 statement closing dates (then 15.24% to 25.24% variable)
15.24% to 25.24% variable
$0
Good (700-739)
Earn more cash back for the things you buy most.
690
0%
1.5
Unsecured
0% for the first 15 months (then 16.74% to 25.49% variable)
16.74% to 25.49% variable
$0
Fair (660-699)
Earn unlimited 1.5% cash back on every purchase - it's automatic. No minimum to redeem for cash back.
720
0%
Unsecured
0% for the first 21 months (then 15.99% to 25.99% variable)
15.99% to 25.99% variable
$0
Good (700-739)
This is the only card with No Late Fees, No Penalty Rate and No Annual Fee - Ever. Give it a try and apply to find out what the Citi Simplicity® Card can do for you.
680
0%
Unsecured
0% for the first 15 months (then 16.74% to 25.49% variable)
16.74% to 25.49% variable
$0
Fair (660-699)
Jumpstart your financial fitness! 60 day introductory balance transfer offer, save on interest, and get your free monthly credit score.

Compare up to 4 providers

Pros and cons of a 20-month balance transfer credit card

Pros

  • Save on interest. The savings you’ll make from paying no interest for 20 months or more can help you pay off your debt faster.
  • Long repayment period. Balance transfers generally last between 6 and 20 months, so this is one of the longest repayment periods available for low balance transfer offers. As long as you figure out how much you need to repay each month, it should be a generous time frame to repay any existing debt before the interest applies.

Cons

  • Standard rate applies to new purchases. Avoid buying new items using this credit card because you’ll pay the revert rate. Your monthly payments will go towards those purchases first, making it take longer to repay your balance transfer.
  • High revert rates. The low or 0% interest rate is only in place for the introductory period. After that time a much higher interest rate applies to any remaining balances.

Questions from our readers

Back to top

Leah Fallon

Leah Fallon is a writer and editor for finder.com. She's here to fix annoying apostrophes, elusive infinitives and the muddled em and en dash. When she's not helping people with their finances, you can find her wrangling her two sprightly girls in Leesburg, Virginia.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy and Cookies Policy and Terms of Use.

US Credit Card Offers

Important Information*
Deserve® Classic Card
Deserve® Classic Card

APR

24.49
variable

Annual fee

0 For the first year
More info
Luxury Card Mastercard® Gold Card™
Luxury Card Mastercard® Gold Card™

APR

16.74
variable

Annual fee

995 For the first year
More info
First Access Visa Card®
First Access Visa Card®

APR

29.99
variable

Annual fee

75 For the first year
More info
Indigo® Platinum Mastercard® Credit Card
Indigo® Platinum Mastercard® Credit Card

APR

23.9
variable

Annual fee

75 For the first year
More info
Go to site