We ranked the best balance transfer card picks for 2021 based on our research and placed them into six major categories. We considered factors such as the length of the intro APR period, balance transfer fees and rewards. Finder’s experts provide unbiased, trustworthy evaluations of all balance transfer credit cards and providers, not just those we partner with on the site.
Though the Citi® Double Cash Card isn't the best flat-rate cash back card by our estimation — that goes to the Chase Freedom Flex — market changes have made it one of the better balance transfer card options available in 2021. That's because the card possesses not only a higher-than-average cashback rate at 2%, but a higher-than-average balance transfer period at 18 months — just behind the U.S. Bank Visa Platinum's 20 months.
Intro balance transfer APR. 0% intro APR for the first 18 months — then 13.99% to 23.99% variable.
Unlimited cash back. Earn 1% cash back when you make purchases, and an additional 1% back when you pay your balance.
No annual fee. Keep this card in your wallet without worrying about an annual fee.
Potentially high fees. You'll incur up to $40 in fees for each late payment. Citi may also impose a penalty APR of up to 29.99% for repeat offenses.
Annual fee
$0
Purchase APR
13.99% to 23.99% variable
Balance transfer APR
0% intro for the first 18 months (then 13.99% to 23.99% variable)
Balance transfer fee
$5 or 3% of the transaction, whichever is greater
Rewards
Up to 2% cash back on purchases (1% when you buy plus 1% as you pay)
Best for carrying a balance long term Chase Slate Edgeâ„
The old Chase Slate returns from the dead as the Chase Slate Edgeâ„ , bringing with it a few new features. Notably, the card allows you to lower your interest rate by up to 2% each year when you meet the requirements. You can get your APR as low as 9.74%, which is excellent if you need to carry a balance.
Signup bonus. Spend $500 on purchases in the first 6 months your account is open to earn $100 in statement credit.
Intro APR on purchases and balance transfers. Enjoy a 0% intro APR on purchases and balance transfers for 12 months, reverting to 14.99% to 23.74% variable.
No annual fee. You won't pay an annual fee to use this card.
Lower than average intro rate. At 12 months, this card's intro APR length is shorter than the 15 month industry standard.
Intro offer on balance transfer fees gone. The original Chase Slate offered a 0% balance transfer fee offer for 60 days. This is no longer the case, as the Chase Slate Edgeâ„ offers a 60 days period of $3 balance transfer fees, reverting to 5%.
Annual fee
$0
Purchase APR
0% intro for the first 12 months (then 14.99% to 23.74% variable)
Foreign transaction fee
3% of the transaction value
Welcome offer
$100 bonus on your statement when you spend $500 in your first 6 months
The Citi Rewards+® Card combines a solid 15 months intro APR on balance transfers with a unique rewards feature. On all purchases, Citi will round your points earned to the nearest 10 points. That measure once your balance transfer period is over, you have a great rewards card for racking up points on small purchases on your hands.
Rewards points. Earn 2x points at supermarkets and gas stations on up to $6,000 in combined purchases each year. Once you reach the cap and on all other purchases, you earn 1x points.
Round up points. A rewards rate of 2x and 1x points may not seem like it's worth earning a spot as one of the best rewards credit cards, but with the rounding up feature, your rewards rate is actually higher. Say you buy a $2 coffee. Your reward points will round up at 10x points, thus earning a 5% reward.
Bonus points. The card comes with 15,000 bonus points once you spend $1,000 in your first 3 months when you open your credit card account. Also, you get additional 10% bonus points for the first 100,000 points you redeem annually.
Foreign transaction fees. Using the card abroad or online with foreign merchants will cost 3% of the amount.
Balance transfer limitation. You'll need to complete your balance transfer within four months of account opening to take advantage of the intro APR.
Annual fee
$0
Purchase APR
0% intro for the first 15 months (then 13.49% to 23.49% variable)
Balance transfer APR
0% intro for the first 15 months (then 13.49% to 23.49% variable)
Balance transfer fee
$5 or 3% of the transaction, whichever is greater
Rewards
Earn 2x points at supermarkets and gas stations on up to $6,000 annually, then 1x points after that and on all other purchases
Best for simple 0% intro APR on balance transfers and purchases Citi® Diamond Preferred® Card
While the Citi® Diamond Preferred® Card doesn't currently offer the 21-month intro APR it once did, it still boasts a respectable length of 18 months. The Diamond Preferred is especially notable for having an intro APR on purchases as well, giving you some flexibility in how you wish to use your new card.
Intro APRs. You'll get an 18 months 0% intro APR on purchases and balance transfers, reverting to 13.74% to 23.74% variable.
No annual fee. You won't pay an annual fee to use this card.
Additional cards free. You won't pay a fee to add additional cardholders to your account.
Balance transfer fees. You'll pay the greater of $5 or 3% on all balance transfers.
Four month transfer limit. You'll have just four months to take advantage of the balance transfer intro period. Penalty APR. The penalty APR for missed payments is steep at up to 29.99% variable.
Annual fee
$0
Purchase APR
0% intro for the first 18 months (then 13.74% to 23.74% variable)
Balance transfer APR
0% intro for the first 18 months (then 13.74% to 23.74% variable)
Balance transfer fee
$5 or 3% of the transaction, whichever is greater
Rewards
N/A
Best for a long 0% intro APR U.S. Bank Visa® Platinum Card
After the Citi Diamond Preferred and Citi Simplicity lost their 21-month intro APRs, the U.S. Bank Visa® Platinum Card became the defacto choice for a balance transfer card with the longest intro APR period. It helps that the card is solid in other respects, including requiring no annual fee and perks like cell phone protection.
Intro APR period. Get 20 months of 0% intro APR period on balance transfers and purchases when you open your account. After the intro APR period ends, your rate reverts to variable 14.49% to 24.49%.
No annual fee. You won't pay an annual fee to own the card.
Cell phone protection. Pay your cell phone bill with your card to get coverage against phone damage or theft up to $600. You're limited to two claims in a 12-month period for a total of $1,200.
Foreign transaction fees. Avoid using this card online at foreign merchants or when traveling abroad or you'll pay 3% fee of the amount of each transaction.
No reward program. You won't earn any rewards on your purchases.
No signup bonus. There's no bonus to earn upon signup.
Annual fee
$0
Purchase APR
0% intro for the first 20 months (then 14.49% to 24.49% variable)
Balance transfer APR
0% intro for the first 20 months (then 14.49% to 24.49% variable)
Balance transfer fee
$5 or 3% of the transaction, whichever is greater
Rewards
N/A
Best for cash back flexibility U.S. Bank Cash+™ Visa Signature® Card
The U.S. Bank Cash+™ Visa Signature® Card is another great example of a rewards card that doubles as a more than solid balance transfer card. While the Citi Double Cash is still the kind of rewards when it comes to such card, the flexibility offered but the U.S. Bank Cash+™ Visa Signature® Card is an asset for targeted spending.
Intro APR. Enjoy a 0% intro APR on balance transfers for the first 12 months, reverting to 13.99% to 23.99% variable.
Cash back. Earn 5% cash back on up to $2,000 each quarter in combined purchases on two categories of your choice, reverting to 1%. Earn 2% back on one selected category all year round, and 1% back on everything else.
Signup bonus. Earn a $150 after you spend $500 in your first 90 days of card membership.
Cash back requires enrollment. You'll need to enroll in you bonus categories each quarter to earn the accelerated rewards.
Balance transfer time limit. You have just 60 days to make your balance transfer and receive the intro period.
Annual fee
$0
Purchase APR
13.99% to 23.99% variable
Balance transfer APR
0% intro for the first 12 months (then 13.99% to 23.99% variable)
Balance transfer fee
$5 or 3% of the transaction, whichever is greater
Rewards
5% on up to $2,000 each activated quarter on two categories combined (1% after), 2% on one everyday category and 1% on all other purchases
Best for no balance transfer fee Navy Federal Platinum Credit Card
The Navy Federal Platinum Credit Card is one of the few cards on the market right now that don't charge a balance transfer fee on transfers. In fact, the card is light on fees on the whole, requiring no annual fee, no cash advance fee, no foreign transaction fee and a low average APR. The tradeoff is you'll need to be a Navy Federal Credit Union member to obtain this card.
Intro APR. Get a 0% intro APR on balance transfers, reverting to 5.99% to 18% variable.
Low fees. You won't pay an annual fee, balance transfer fees, cash advance fees or foreign transaction fees with this card.
Low interest rate. The low end of this card's interest rate is just 5.99%, which is among the lowest on the market.
Membership required. You need to be a member of the NFCU to obtain this card.
No rewards. This card doesn't earn rewards on purchases.
Annual fee
$0
Purchase APR
0% intro for the first 12 months (then 5.99% to 18% variable)
Balance transfer APR
0% intro for the first 12 months (then 5.99% to 18% variable)
Balance transfer fee
None
Rewards
N/A
What’s changed in 2021
Many cards lost their balance transfer offers in 2020, with U.S. Bank remaining one of the few providers to leave their offers relatively untouched. As a result, U.S. Bank has taken several spots for 2021, including cashback flexibility, dining, and the longest intro APR period.
See more balance transfer offers and save money on interest. The best balance transfer card for you will be the one with the lowest fees and enough time to pay down your consolidated debt.
To make the right credit card choice and save money, consider the following:
How long of an intro APR period do you want? Intro periods for 0% APR typically reach as high as 18 to 21 months — for example, with the Citi® Diamond Preferred® Card. Some cards, such as the SunTrust Prime Rewards, have intro APRs higher than 0% but offer their promotional rates for very long periods.
Do you want rewards? If you want rewards, you may need to sacrifice the length of your card’s intro APR. Many balance transfer cards with rewards have intro periods only around 15 months.
Are you OK with paying balance transfer fees? Some cards offer no balance transfer fees for either a promotional period or at all times. Keep in mind that some cards that never charge transfer fees come with less-attractive intro APRs or interest rates.
What annual fee are you willing to pay? Many balance transfer cards have no annual fees. If your card has an annual fee, consider how this will cut into your potential savings from a balance transfer.
What is the card’s revert APR? If you can’t pay off your card in full by the end of the intro period, it reverts to an APR rate that immediately applies to the balance you owe. APRs for these cards skew high, so consider whether you can pay down the full transferred balance before the intro expires.
Can you pay off your balance on time every month? A balance transfer credit cards may hit you with hefty penalties if you miss a payment – including the loss of your intro APR period.
What is a balance transfer credit card?
A balance transfer credit card allows you to move debts, like loans and credit card balances, to a new card with a lower interest rate. This allows you to pay off your balances faster and save money on interest.
Here are the steps to complete a balance transfer:
Compare and apply for a cardLook for balance transfer offers with a 0% intro APR period for as long as possible — often 12, 15, 18 or even 21 months if you have great credit.
Transfer the balance Follow the instructions provided by the card issuer to transfer your existing balances to your new card.
Pay off the debt Be sure to pay down the balance within the intro offer period, so you can save the most money on interest, get out of debt, and avoid any repercussions of the revert rate.
Pros and cons
Pros
Save money on interest. Balance transfer cards can help you save money on interest that you already pay on your credit card debt.
Rewards. Most balance transfer cards also come with a rewards program. This gives your card value after the intro APR period ends.
No annual fee. Balance transfer cards typically come with a $0 annual fee, which helps you save even more money on fees.
May also come with intro APR on purchases. There are quite a few cards on the market that offer an intro APR on purchases in addition to balance transfers. This can help you further save on interest if you manage to pay off your balance transfer debt ahead of schedule.
Cons
Balance transfer fees. You have to pay a balance transfer fee of either 3% or 5% of the amount.
Poor travel rewards. Balance transfer cards that offer rewards are typically cashback cards. These are excellent for everyday purchases like gas, groceries and dining. But cards that offer travel rewards, rarely come with a 0% intro APR period on balance transfers.
May not be able to transfer your entire debt. You can make balance transfers up to the amount of your available credit limit. If your credit limit is lower than your debt, you won’t be able to transfer all of it.
Let’s say you owe $4,000 on a credit card with an interest rate of 19% and you intend to pay $300 each month. Instead, you move the debt to a balance transfer card with a 0% intro APR for 15 months and a 3% balance transfer fee. Although you would pay $120 in balance transfer fees, you would pay off the debt in just under 14 months and avoid paying any interest during this time.
If you kept the debt on the original card, you would pay $529 in interest. By moving the debt to the balance transfer card, you end up saving $405 dollars. In this case, the balance transfer card is clearly worth it.
Below we look at four common options for tackling this kind of debt. See how they stack up.
Four options for repaying credit card debt
Details of the original card
Credit card balance: $4,000
Original card int. rate: 19%
Monthly payment: $300
Cost in interest: $529
Balance transfer to card with 0% APR
Pay off card faster: $515 monthly payment
Debt consolidation loan at 5% APR
Paying the minimum
Cost in interest
$0
$303
$124
$5,740
Cost in transfer fees
$120
$0
$120
$0
Total cost
$120
$303
$244
$5,740
Time to pay off debt
14 months
9 months
14 months
10+ years
Savings
$405
$226
$285
-$5,211
In this case, a balance transfer card is the best option. Although you’ll pay a balance transfer fee, you’ll save the most in interest over time.
You asked, we listened: Top 5 common questions
There can be a lot of fine print when it comes to balance transfers. Here are the five most common questions we receive on the subject.
How much can I transfer? The minimum and maximum amount you can transfer during a balance transfer is typically determined by your card’s credit limit.
What kinds of debt can I transfer? Aside from credit card debt, you can transfer nearly any type of monthly payment owed, such as student loans, auto loans and personal loans.
What mistakes should I avoid in my application? Applying for a balance transfer card with your existing credit card issuer is one of the biggest mistakes you can make.
What happens if I can’t pay off my balance in time? If you can’t pay your full balance in time, the revert APR will kick in and you’ll need to start paying that interest on future payments.
Bottom line
The best balance transfer card for you depends on your finances, debt repayment plan and how you spend. If none of the cards on our list of best picks feel like the right fit, compare more cards to find one that’s right for you.
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Our team evaluates credit cards to determine their value against similar cards on the market.
We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.
Steven Dashiell is a writer at Finder specializing in all things credit cards. With more than 300 articles under his belt, he aims to help readers embrace credit cards and maximize their rewards. Steve is studying to become a Certified Educator in Personal Finance, and is a frequent face on Finder’s YouTube channel, offering the latest in credit card hacks and advice. His expertise has been featured on numerous outlets, including U.S. News & World Report, Time, CBS, Fox Business, Lifehacker, Martha Stewart Living and more.
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