Balance Transfer Credit Cards with Rewards Programs | finder.com

Balance transfer credit cards that come with rewards

Discover how to repay your debt interest-free while earning rewards

Balance transfers and rewards card are both attractive features, but imagine if you could take advantage of them both with one card. Take advantage of a lower interest rate to consolidate your debts and once you’ve paid it off, earn points on purchases to reward your spending. While these cards sound like a catch, there are some factors you should consider before submitting your application.

Compare balance transfer credit cards

Rates last updated April 19th, 2018
Name Product Product Description Intro APR for Balance Transfer APR for Purchases ( Purchase Rate ) Annual fee Minimum Credit Score
Blue Cash Everyday® Card from American Express
Earn $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive the $150 back in the form of a statement credit.
0% Intro APR for 15 months (with whichever is greater, $5 or 3% balance transfer fee)
14.49% to 25.49% variable
$0
Fair (660-699)
The Chase Freedom® Unlimited™ credit card
Earn unlimited 1.5% cash back on every purchase – it's automatic. No minimum to redeem for cash back.
0% Intro APR for 15 billing cycles (with whichever is greater, $5 or 5% balance transfer fee)
16.24% to 24.99% variable
$0
Fair (660-699)
Chase Slate® credit card
Jumpstart your financial fitness! 60 day introductory balance transfer offer, save on interest, and get your free monthly credit score.
0% Intro APR for 15 billing cycles (with $0 for transfers in first 60 days. Then $5 or 5% balance transfer fee)
16.24% to 24.99% variable
$0
Fair (660-699)
BankAmericard Cash Rewards™ Credit Card
Earn more cash back for the things you buy most.
0% Intro APR for 12 statement closing dates (with whichever is greater, $10 or 3% balance transfer fee)
14.49% to 24.49% variable
$0
Good (700-739)
HSBC Cash Rewards Mastercard®
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees
0% Intro APR for first 15 months from account opening (with whichever is greater: $10 or 4% balance transfer fee)
14.49%, 18.49% or 24.49% variable
$0
Fair (660-699)
NASA Federal Platinum Advantage Rewards Credit Card
NASA Federal Platinum Advantage Rewards Credit Card
Enjoy perks and save money while gaining points that never expire with every purchase.
9.9% Intro APR for 90-days
11.40% to 17.99% variable
$0
Fair (660-699)
DCU Visa® Platinum Secured Credit Card
A great way to establish or improve your credit history.
13.00% variable
$0
Poor (Below 660)
primor® Secured Visa Gold Card
Fast, easy application process. No processing or application fees!
9.99% variable
$49
Poor (Below 660)
Barclaycard Ring™ Mastercard®
A low, variable APR on purchases, balance transfers and cash advances.
10.49% variable
$0
Good (700-739)
Discover it® Secured Credit Card
2% Cashback at restaurants or gas stations on up to $1,000 in combined purchases each quarter. Plus 1% cash back on all other credit card purchases.
10.99% Intro APR for 6 months (with the amount of each transfer, 3% balance transfer fee)
24.49% variable
$0
Poor (Below 660)
Fifth Third Secured Card
Build, or rebuild, your credit with each purchase.
25.49% variable
$24
Poor (Below 660)

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Do I get points on the balance that I am transferring?

Unfortunately no, the debt that you transfer onto your new balance transfer credit card is not eligible for earning points. At the time of this writing, we are not aware of any card providers that offer this.

What are the features of a balance transfer credit card with rewards?

Balance transfer credit cards with rewards offer a number of features, and while these can vary from card to card, the following should give you a fair idea of what to expect:

  • Balance transfer offer. Some cards charge 0% p.a. on balance transfers during promotional periods, and some others charge low balance transfer rates. The time period of these offers typically varies in between 6 and 18 months.
  • Earning reward points. The earn rate (how many points you’ll earn per dollar) you can expect will depend on the provider and rewards program. There may also be some terms and conditions such as bonus points with partnered retailers or restrictions on transactions (such as cash advances). It also pays to find out if your points expire, and if there’s a cap on the maximum number of points you can earn.
  • Redeeming rewards. Understand exactly how you can redeem your points. Certain rewards programs give you the option to choose between an array of merchandise, store vouchers, and travel vouchers; some allow you to use your points as cashback; and some even give you the option of transferring your points to your frequent flyer program account. You’ll want to make sure these rewards suit your lifestyle so you can get the most out of your card.

What are the pros and cons of using a balance transfer credit card with rewards?

Pros

  • Save money. By paying little to no interest on balance transfers for a given time period, you can save considerably in the form of interest, especially if you manage to pay off the entire transferred balance before the promotional period comes to a close.
  • Earn rewards. If you use your credit card frequently, you can benefit by earning rewards as per your spending.
  • Make use of extras. Many such credit cards come with complimentary purchase and travel insurance covers that you can use in different circumstances. Some cards also offer round-the-clock access to a concierge service that offers assistance in various matters.

Cons

  • High-interest rate. You can expect a balance transfer card with rewards to charge a high interest rate on purchases, and if you don’t keep paying your account’s closing balance in full each month, the money you pay as interest could outweigh the rewards you earn.
  • Annual fee. Most such credit cards charge ongoing annual fees, and just how much you have to pay in annual fees depends on the extras any given card offers.

What else will I need to consider when comparing this type of card?

When you’re comparing rewards credit cards with balance transfer offers, don’t forget the following:

  • Balance transfers don’t earn rewards. At the time of writing, no credit cards offer rewards points on balance transfers.
  • The earn rate. The earn rate can vary from one rewards card to the next, so pay due attention to this aspect. Normally, platinum and premium cards offer better earn rates, and American Express usually compares better than Visa and Mastercard on this front.
  • The revert rate. At the end of the promotional period, any outstanding balance from balance transfers starts attracting the card’s purchase rate or cash advance rate. It’s usually the cash advance rate, which can be noticeably higher than the purchase rate.

Getting a balance transfer credit card with rewards can be a good idea if you have a roadmap in place and plan to pay off the entire transferred balance within the promotional period. Once you do, you can then look forward to earning rewards. The number of options on offer is a definite plus, so make sure you compare as many as possible before applying for any one.

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US Credit Card Offers

Important Information*
Deserve® Classic Card
Deserve® Classic Card

APR

24.24
variable

Annual fee

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

APR

16.49
variable

Annual fee

0 For the first year
More info
The First Access VISA® Credit Card
The First Access VISA® Credit 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
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