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Balance transfer cards

Compare more than 200 balance transfer credit cards and save money on interest.

Our pick for a balance transfer card: Citi® Diamond Preferred® Card

Citi® Diamond Preferred® Card logo

18 months

Intro APR on transfers

  • Market-leading 18 months intro APR on transfers and purchases
  • Potentially low revert rate of 14.74%-24.74% variable
  • No annual fee
Apply now

Compare balance transfer cards

Select your credit score and then input your credit card with the largest balance and its APR into the transfer amount and current APR tabs. Hit calculate and you'll see just how much each card can save you.

%
Name Product Amount saved Balance transfer APR Balance transfer fee Recommended minimum credit score Filter values
Citi® Diamond Preferred® Card
0% intro for the first 18 months (then 14.74% to 24.74% variable)
$5 or 3% of the transaction, whichever is greater
670

Best of Finder 2021

An impressive 18 months intro APR on balance transfers and purchases, as well as no annual fee make this one of the top 0% APR cards available.
Citi® Double Cash Card
0% intro for the first 18 months (then 13.99% to 23.99% variable)
$5 or 3% of the transaction, whichever is greater
670
Get a strong 18 month 0% intro APR on balance transfers AND up to 2% back. This is a rare card that offers both rewards and balance transfers.
TD Cash Credit Card
0% intro for the first 15 months (then 12.99%, 17.99% or 22.99% variable)
$5 or 3% of the transaction, whichever is greater
680
3% on dining and 2% on groceries make this a valuable card for food purchases. Available in: CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, VT
Citi Rewards+® Card
0% intro for the first 15 months (then 13.49% to 23.49% variable)
$5 or 3% of the transaction, whichever is greater
670
Earn rewards and enjoy a long intro APR period on purchases and balance transfers.
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Compare up to 4 providers

The best balance transfer credit cards of 2021

See our picks for the best balance transfer cards of 2021.

How to compare balance transfer cards

Consider these questions as you decide on a the best balance transfer credit card for you:

  • 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 will it cost me?

There are two main costs to keep in mind when it comes to the costs of a balance transfer: APR and transfer fees.

APR

Your purchase APR affects how much interest your balance accrues each month. If you have an APR of 19% and a balance of $4,000, you can expect to rack up an additional $63.60 a month in interest charges, assuming you make no payments.

Because the main purpose of a balance transfer card is to help you pay off debts with higher interest, it’s a good idea to make sure you understand how the purchase APR, balance transfer APR, and revert rates work on your new card. It might be a good idea to avoid making purchases on your new card until you’re sure you’ve got a handle on paying off your transferred balance within the promotional period.

Transfer fee

A transfer fee is the price of transferring a balance to a balance transfer card. This is usually between 3% and 5% of the amount you’re transferring, though some balance transfer cards charge no fee as part of their welcome offer.

Check out our balance transfer calculator to see how these figures work together.

Do I really need a balance transfer credit card?

A balance transfer credit card can be a nifty tool to save money, but it’s not always the optimal choice. Consider passing on this card type if:

  • The interest you save is outweighed by the fees you’ll pay.
    Most cards charge fees when you transfer a balance. If you pay these costs, you might end up paying more than you would if you had just continued paying off your existing balance.
  • You’re using a balance transfer to cover up bad financial habits.
    Even after you transfer a balance, you still have to pay it off. Consider whether a balance transfer is a one-off action while you pay off your debt for good — or whether you’re just shifting debt around.
  • Will my credit card be useful after I make my balance transfer?
    Some balance transfer cards don’t have much to offer besides 0% intro APRs. Consider whether you want to add another card to your wallet — especially one that doesn’t offer many other impressive features.

4 tips to making the most out of your balance transfer card

The best way to leverage the benefits of a balance transfer card is to focus on doing away with your debt, rather than the perks banks and providers use to lure you in:

  1. Make sure you’ll save money. A balance transfer card with an annual fee and high transfer fees can eat into your savings. The interest you’ll save on your debt should outweigh the card’s costs.
  2. Pay more than the minimum. Knock out your balance quicker by paying as much as you can beyond your statement’s minimum. Find the magic number by dividing your remaining balance by the months left in your intro period.
  3. Avoid additional purchases. Many cards prioritize your payment toward new purchases, which could threaten your ability to repay your transfers before the end of your intro. Hold off on swiping your card until your balance is down to $0.
  4. Heed the revert rate. If you don’t pay off your balance by the end of your intro period, your rate reverts to the everyday APR. Adopt your revert date as your payoff deadline if you can to avoid paying more than you need to.

Ask the experts

Michele Langbein
  • Michele Langbein, Ph.D.
  • Professor of Business Management
  • Point Park University
Eric Rosenberg
  • Eric Rosenberg
  • Personal Finance Expert
  • personalprofitability.com
Kashif A. Ahmed
  • Kashif A. Ahmed
  • Adjunct Professor of Finance
  • Suffolk University
Andrew Burnstine
  • Andrew Burnstine
  • Associate Professor
  • Lynn University

Bottom line

Balance transfers can be a good way to make a dent in your debt when high-interest charges are eating away at your payments. Before you apply, make sure the switch will save you time and money.

Find the right balance transfer card for your financial situation by thoroughly comparing your options.

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