Top balance transfer credit cards | 0% APR for 12 months

Pay off your debt with lower interest.
Get a balance transfer card.

Move your existing debt balances onto a new card at a lower rate.

Let’s get your debt sorted.

Rates last updated February 20th, 2018
Name Product Product Description Intro APR for Balance Transfer APR for Purchases ( Purchase Rate ) Annual fee
Barclaycard Arrival Plus® World Elite Mastercard®
Enjoy 40000
bonus miles after you spend on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase.
0% Intro APR for 12 months (with whichever is greater: $5 or 3% balance transfer fee)
17.24%, 21.24% or 24.24% variable
$0 annual fee for the first year ($89 thereafter)
Barclaycard Ring™ Mastercard®
A low, variable APR on purchases, balance transfers and cash advances.
10.24% variable
Barclaycard CashForward™ World Mastercard®
Get a $200 cash rewards bonus after you spend $1,000 in purchases in the first 90 days after account opening.
0% Intro APR for 15 months (with whichever is greater: $5 or 3% balance transfer fee)
15.99%, 20.99% or 23.99% variable

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Let’s break down how balance transfers work.

A balance transfer credit card lets you move your existing debt — other card balances, medical payments, student debt and even personal loans — onto a new card with a lower rate, sometimes as low as 0%. That lower rate runs for a fixed time, typically from six to 24 months, after which the interest reverts to a higher rate.

During that intro period, you can make some serious headway in paying down your debt with the bonus of simplifying your many bills to just one.

You’re typically required to pay a one-time fee to transfer your balance with these cards, often a percentage of the amount you’re transferring to the new card. You may also be on the hook for an annual fee.

But a lower APR can result in significant savings.

Look how easy it can be.

1) Find a balance transfer card that meets your needs.

2) Confirm how much you’re eligible to transfer.

3) Submit your application and transfer amount.

4) Wait five to seven days for your application to be approved.

5) Confirm your transfer and start saving.

Credit card issuers make money when you pay interest, so why would they charge 0% when they could charge 24% or more?

Here’s why:
The card eventually reverts to a higher rate.
If you don’t pay off your entire debt in the 0% intro period, you’ll end up back on the standard interest rate for your card. Once that happens, your new credit card issuer can potentially make hundreds or even thousands of dollars off you in interest.
Persuading you to switch is tough.
Many users are reluctant to switch banks, and the cost of acquiring a new customer can run a provider hundreds of dollars. Offering a discounted interest rate is one of the cheapest ways for banks to woo potential customers. These cards are a cheap form of marketing.

Find out how much you can save and how long it might take to pay off your cards.

Your current credit cards:

Amount Owing


Card 1

Card 2

Card 3

Card 4

Card 5

Card that you are transferring to:

Intro APR

Intro Term (months)

Ongoing APR

Balance Transfer Fee

Annual Fee

Your monthly repayment

At this rate, you will not pay off your debt.
At this rate you will pay off your debt during the card's intro period

At that rate you will not pay off your debt. You will need to make higher repayments.

Months that it will take you to pay off your debt:

With a balance transfer
12 months

Without a balance transfer
15 months

Money saved transferring debt to a balance transfer card:

Savings = $1,000

By moving forward with a balance transfer credit card and transferring the maximum amount, you could be saving $1,000 on fees and interest charges.
You will save an infinite amount of money as you will not pay off your debt on your current cards at that rate.
In this case, a balance transfer card is not the best option. You might want to consider a personal loan to help consolidate your debt. You can find out more here.
Disclaimer: Whilst every effort has been made to ensure the accuracy of this calculator, the results should be used as indication only. Certain assumptions have been made around the repayments made. This calculator is neither a quote nor a pre-qualification for a credit card

Kick your debt to the curb with a balance transfer credit card offer

Overwhelmed with debt and unable to pay down your balance against a high interest rate?

The average credit card APR is 18%, which is a lot of unnecessary interest on purchases you’re trying to pay off. Transferring that debt to a new card with a lower intro rate could be a solution to paying it off faster.

Our guide empowers you to determine if transferring your credit card balance is the right solution for your budget and needs.

What is a balance transfer?

A balance transfer is the result of moving all or part of your existing debt to another card provider or lender, typically to save money on the overall interest you’d pay on that debt.

With your standard high-APR card, the majority of your monthly payment first goes toward the interest you’ve accrued on your purchases — the rest is applied to the purchases themselves. Balance transfer cards offer new customers the opportunity to transfer most types of debt to a new card with a low or no intro APR, buying some breathing room to more wisely budget their finances.

A 0% interest balance transfer card can offer six, 12 and sometimes 18 interest-free months. Your full monthly payment is applied to paying down your total debt, saving you a lot of money in the long run and keeping more of your money in your pocket, and not the provider’s.

Balance transfer fees

Many balance transfer credit cards charge a fee to move your existing debt to the card — typically 3% to 5% of the balance you’re transferring. Depending on how large your existing debt is, the interest you’ll save by moving your debt to a 0% balance transfer card could far outweigh this fee.

Read more about how balance transfer fees work.

More about balance transfers

  • You can transfer more than just credit card debt to your new card, including auto loans, medical bills and student debt.
  • Most providers post your transfers within two to three business days.
  • 0% APR intro periods are at their longest in years, resulting in bigger potential interest savings for you.
  • To keep your 0% APR offer to its last eligible day, you’ll need to make at least your minimum payments each month on time. Setting up autopay can help keep you on track.
  • Good creditworthiness is required for the best balance transfer cards. But if you shop around, you can find solid balance transfer credit cards for those with poor credit.


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How do balance transfers work?

A balance transfer credit card is much like your typical credit card. But it comes with an opportunity to transfer high-interest debt to a new card, offering a lower rate on those transfers for a limited time. In this way, your new credit card helps you pay down your old debt — or pay it off completely.

When you apply for a balance transfer card, you’re asked to list your creditors and the amount you want your new card provider to repay them.

How to do balance transfer credit cards work

If you’re approved for the card, the amount that’s ultimately repaid to your old creditors is determined by the credit limit on your new card. Solid creditworthiness typically results in a higher limit — and therefore a bigger bite out of your owed debts. But you’ll find plenty of balance transfer cards that accept those with poor credit too.

Did you know?

When applying with a new card provider, you can provide an idea of how much you’re hoping to transfer. But it’s only after you’re approved that you can complete those transfers, typically within a strict period of time. Make sure you read the fine print to know how many days or months you have to get it done.

Once you’re approved, the credit card company then pays off the creditors you listed on your application. If you don’t qualify for the total amount you requested for repayment, your creditors are paid off in the order listed on the application, stopping when your credit limit is reached, less any fees per transfer. If you plan to transfer debt after you’re approved, you can typically call your credit card provider or initiate your transfers online.

How to complete your balance transfer

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What are the benefits of a balance transfer credit card?

  • Saves you money. A low interest rate keeps more cash in your pocket, slashing unnecessary interest on purchases made long ago.
  • Gets you out of debt faster. Low interest allows you to pay down your debt more quickly, applying more of your monthly payment toward your principal balance.
  • Simplifies your finances. Transferring the balances of multiple debts can consolidate many monthly payments into just one bill.

How much can I save by moving my debt?

what is a balance transfer credit card infographic

Where does my credit score come into play?

How much you can transfer and the APR you’re ultimately offered largely depends on your credit score. You typically need a good to excellent credit score of 670 or higher for the most competitive balance transfer cards, like those with low rates, long intro periods and high credit limits. However, you’ll find decent options for people with fair or poor credit at a score of at least 580.

Credit rating and APR

If you have a very good or excellent credit score of 740 or higher, you’ll see approval for nearly any balance transfer credit card out there. Another bonus of good creditworthiness: longer low-interest intros and average everyday APRs of 12.24% or lower.

Consider the cards below for customers with excellent credit of 740 or higher.

Citi ThankYou Preferred Card — From 13.24% to 23.24%, this card’s APR is typically the lowest possible if you have excellent credit. Enjoy 0% APR on purchases and balance transfers for the first 15 months.

Citi Diamond Preferred Card — APRs vary from 12.24% to 22.24%, with 0% APR on purchases and balance transfers for 21 months. That’s one of the longest promo periods on the market!

Good credit provides a wide range of options for balance transfer cards. If your score is 670 to 739, consider one of the cards below.

JetBlue Credit Card — APRs vary from 12.24% to 25.24%, but this card’s rate is typically closer to 15.24% if your credit score is at least 670. Enjoy 0% APR for the first 12 billing cycles following each balance transfer that posts within 45 days of opening the account.

Barclaycard NFL Extra Points Credit Card — This card’s APR ranges from 15.24% to 25.24%, but you’ll find a rate on the lower end if your credit score is 670 or higher. And you can enjoy a bonus 0% APR for the first six months on eligible NFL purchases.

With a fair credit rating of 620 to 679, you’re typically offered slightly higher APRs — around 20.24%. Though your options are fewer, you’re still eligible for solid balance transfer cards.

Santander Sphere Visa Signature — APRs vary, but you’ll typically get around 20.24% with a fair credit rating. Enjoy 0% APR for the first 24 months. The minimum credit score approved for this card is 680.

Chase SlateAPRs vary, but you could be approved for 20.24% with a fair credit rating. Enjoy 0% APR on purchases and balances transfers for the first 15 months and no fees on transfers for the first six months, with free monthly access to your FICO score. The average credit score approved for this card is 685.

Chase Freedom — The APR for this card is typically 20.24% with a fair credit rating, and it comes with a generous 15-month 0% APR period. The average credit score approved for this card is 672.

A poor credit score is from 300 to 579. If your credit score is under 580, approval for a balance transfer credit card may be a challenge. Consider applying for a basic credit card through your bank or credit union to work on building your score.

If your credit rating is in the low 600s, consider the cards below.

Chase Freedom — APRs are typically higher for those with poor credit — from 23.24% to 25.24% if your credit rating is in the low 600s. Enjoy 0% APR on purchases and balance transfers for the first 15 months. The minimum credit score approved for this card is 617.

Chase SlateAPRs vary, but you could be approved for 23.24% to 25.24% if your credit rating is in the low 600s. Take advantage of 0% APR on purchases and balance transfers for the first 15 months and 0% fees on transfers for the first six months, along with free monthly access to your FICO score. The minimum credit score approved for this card is 627.

Capital One Platinum Prestige Credit Card — APRs vary but can be around 23.24% to 25.24% if your credit rating is in the low 600s. Enjoy 0% APR on purchases and balance transfers for the first 15 months. The minimum credit score approved for this card is 628.

Can a balance transfer affect my credit score?

Yes. A “hard pull” on your credit report is part of how a provider determines whether to take you on as a borrower, so merely applying for a balance transfer card can shave anywhere from 5 to 20 points off your score. To minimize hard pulls, narrow down your options to only those cards you’re highly eligible for.

Other factors that affect your credit score are related to the card itself, including the total amount you’re transferring, your new available credit limit and whether your transferred balances will pay off a debt or account in full.

But you could find that a balance transfer credit card slightly improves your creditworthiness. This is because of something called your credit utilization ratio, or the amount of your debt on one card compared to that card’s spending limit. Putting this into action, if you currently owe $2,000 on a card with a $4,000 limit, transferring that balance to a card with an $8,000 limit could minimally improve your credit by lowering your utilization ratio from 50% to 25%.

A general rule of thumb is to keep your credit card debt to 30% or less of your limit.
Learn more about how a balance transfer credit card could affect your score

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How to compare balance transfer offers

compare features balance transfer credit card image

Consider each feature of a balance transfer credit card to make sure you prioritize what’s important against your immediate and long-term needs.

FeatureExplanationWhat to Expect
Intro APRThe intro APR is charged on any balance you transfer to the new card. Your APR is determined by your creditworthiness, but a good intro APR is 0% for a specific period.0%–low APR
Length of promoYou’ll find low-APR balance transfer offers that last from 6 to 18 months — and sometimes up to 24 months — depending on the card. Consider the APR, the size of your debt and the promo period to calculate whether you can repay your balances before your revert rate kicks in.6, 15, 18, 21 or 24 months
Revert rateWhen the promotional offer expires, your interest rate often reverts to a much higher APR — sometimes higher than average. Confirm your revert rate before applying.Often 18% or more
Balance transfer feeMany cards charge a fee that’s from 3% to 5% of the total amount you’re transferring. Weigh it against your potential savings, and shop around for the lowest fee.No-fee cards exist, but you’ll typically find fees of 3% to 5%. Ask about how to waive the fee.
Annual feeSome cards charge an annual fee, but you can find cards with no annual fee.$0–$100
Other fees and ratesWhile balance transfers are your main priority, consider other rates and fees to stay out from under unnecessary interest and charges.Consider the costs of late payments, returned payments, transactions abroad and purchase APRs (which are often separate from the balance transfer promo).
Other perksExtras can range from travel rewards to cash back to free credit monitoring. Look for a card that best fits your lifestyle.FICO Score tracking, purchase protection, cash back.
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What can I do with my balance transfer credit card?

The main purpose of a balance transfer credit card is to consolidate existing debt. But there’s more you can do with it beyond one-time transfers.

Take advantage of balance transfer checks

Though they’re quickly going the way of the dodo, balance transfer checks are a feature that at least a few card providers use to entice you to apply. They’re much like blank checks you write to creditors or yourself to put cash in your checking account.

How much you’re able to transfer with these checks depends on your approved credit limit. And because the amount you transfer then becomes a balance on your card, you’ll want to be careful to it oft before your low-interest period expires.

Help out with a partner’s debt

Some card providers allow joint balance transfers that can help you lend a hand to a struggling loved one. If your provider won’t allow it, look into adding your friend or family member as a secondary cardholder, holding on to the card until the balance is satisfied.

Shop around for other promos

Some people game balance-transfer promotions by moving their debt from one card to another at the end of an intro rate, effectively keeping the 0% party going for higher debts.

An easy way to make a go of the game is to set a reminder for at least two months before your intro expires. At that point, you can begin shopping around for another balance-transfer card, applying early so that it’s ready when you need it. Of course, you’ll need a good handle on your finances and a strong credit score to rely on this tactic.

Get the most out of your balance transfers after approval

What types of debt can I transfer?

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What is the cost of doing nothing?

Continuing to pay down your debt at your current rate is certainly an option. Here’s what it can look like if you stay on the same path.

Balance transfer credit card savings infographic

Mistakes to avoid with a balance transfer

Like most financial tools designed to help those in debt, balance transfer credit cards aren’t without a few risks. Steer clear of these common pitfalls when you make your next balance transfer.

Neglecting to make paymentsDon’t let a 0% APR trick you into thinking a card comes without costs. You’ll need to pay your minimum each month — preferably more — to repay your debt before the intro expires.
Ignoring the revert rateAt the end of your promo APR, you’ll pay the revert rate on any remaining balance. Look for a revert rate that’s lower than your current card’s rate to avoid ballooning debt.
Racking up APR penalties for late paymentsTo avoid losing your 0% intro APR, you must pay your minimum with your statement each month. If you struggle to make on-time payments, consider a card that won’t charge you penalty rates.
Paying high APR on cash advances Most cards don’t extend a promo APR to cash advances. Because cash-advance APRs are among the steepest out there, avoid them altogether.
Forgetting about late fees on old cardsDepending on your provider, it could take up to 14 days for your balance transfers to complete. Don’t stop payments on your old cards until you know they’re closed. The last thing you need when dealing with debt consolidation is shelling out cash for fees.

Pro tip No. 1: Avoid using your new card for purchases.

With a balance transfer credit card, keep your primary goal in mind: Paying off your debts more quickly while saving on unnecessary interest.

One way to avoid building more bulk into your balance is by avoiding new purchases on your card. It’s not just that you’re adding new debt on top of old. But that newer debt will likely accrue higher interest for a longer time.

Here’s why: Your 0% intro APR likely won’t extend to new purchases. Worse, if your card is like most, your monthly payments will first go to paying off debts with the lowest interest. A good idea in theory, it means that your monthly payments will first apply to the balances you transferred to the card initially. Unless you’re paying a lot more than your minimum, you might inadvertently give your newer balances more time to accrue interest at their higher rates.

Balance Transfer Art [Recovered]-08

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Pro tip No. 2: Make more than the minimum repayment.

If you’re paying only your minimum each month, you likely won’t be able to repay your entire balance before the end of your 0% balance transfer offer.

To avoid getting stuck with your revert rate, know how much you need to repay monthly to satisfy your full balance before your promo period expires. To calculate your repayments, divide the amount of your debt by the number of months in your balance transfer offer. Use this amount as your repayment goal for each statement period.

Here’s how you can pay off a $10,000 debt over a range of repayment periods:

Intro periodPercentage of total required monthly to clear $10,000 debtMonthly repayment amount on a $10,000 debt
6 months16.67%$1,666.67
9 months11.11%$1,111.11
12 months8.33%$833.33
14 months7.14%$714.29
16 months6.25%$625.00
18 months5.56%$555.56
20 months5.00%$500.00
24 months4.17%$416.67

How do I apply for a balance transfer credit card?

Applying for a balance transfer credit card is just like applying for any other card, only you’ll list your creditors and the amounts you wish to pay to each. Eligibility varies by provider is typically open to permanent residents of the US who are at least 18 years old (or your state’s age of majority).

After you’ve confirmed your eligibility and weighed the APRs, intro periods and fees of all your options, complete your balance transfer credit card application with your personal information and financial details, carefully reading the terms and conditions before submitting it.

Stack the odds in your favor with our guide to a successful application

Recently applied for a balance credit card and not sure about your status?

Call your credit card provider’s customer service line to learn whether you’re approved or rejected — and, importantly, why.


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