What credit score do you need for a balance transfer credit card?

You usually need a FICO® Score of 670 or higher to qualify for a balance transfer credit card. Most balance transfer cards, especially the ones with a 0% intro APR, are intended for consumers who have good or excellent credit.

How much is a balance transfer fee?

A standard balance transfer fee is 3% or 5% of the transaction amount with a $5 minimum. To find out how much a specific credit card charges, check the fees section in its pricing and terms.

Does a balance transfer card affect your ability to get a mortgage?

A balance transfer card alone most likely won't affect your ability to get a mortgage, but having credit card debt could. Lenders check your debt-to-income (DTI) ratio when you apply for a mortgage. If you have a high DTI ratio due to credit card debt, that could negatively impact your mortgage application. Large amounts of credit card debt can also affect your credit score, which is another item that mortgage lenders consider.

How does a balance transfer credit card work?

A balance transfer credit card can accept balance transfers from other cards. When you set up a balance transfer, your balance transfer card is paying off your other credit card(s). The amount you transfer will be taken off the original credit card and put onto the balance transfer card.

How long does a balance transfer take?

A balance transfer can take anywhere from two days to six weeks. It depends on multiple factors, including the card issuers of both cards. Here are the typical balance transfer times for the most popular card issuers: American Express: Usually five to seven days, but can take up to six weeks Bank of America: At least two weeks Capital One: About 15 business days Chase: Seven to 21 days Citi: Two to 21 days Discover: Most transfers are processed within four days, but new accounts have a 14-day waiting period before balance transfer requests can be processed U.S. Bank: Up to 14 days

Best Balance Transfer Credit Cards of December 2024

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

Balance transfer credit cards are for those with good credit who want a lower interest rate or to consolidate debt. The best balance transfer credit cards even start with an intro 0% APR. Pay off what you owe before the intro period ends, and you can avoid interest fees entirely.

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Featured balance transfer credit card offers

Discover it® Chrome: 0% intro APR for 18 months on balance transfers (after that, 18.49% - 27.49% Variable APR *Rates as of December 12, 2024. applies). See rates and fees.
Wells Fargo Reflect® Card: 0% intro APR for 21 months from account opening on qualifying balance transfers on balance transfers (after that, 17.49%, 23.99%, or 29.24% Variable APR applies). See rates and fees.

Best balance transfer credit cards

Ratings Methodology

Unlimited Cash Back Match

Discover it® Chrome

Great for: Balance transfers and cash back

Apply Now for Discover it® Chrome

On Discover's Secure Website.

Rates & Fees

Rating image, 4.50 out of 5 stars.

4.50/5

Rating image, 4.50 out of 5 stars.

4.50/5

Credit Score:

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Apply Now for Discover it® Chrome

On Discover's Secure Website.

Rates & Fees

Credit Score

Good/Excellent (670-850)

Intro APR

Purchases: 0%, 6 months

Balance Transfers: 0%, 18 months

Regular APR

18.49% - 27.49% Variable APR *Rates as of December 12, 2024.

Rewards

1% - 2% Cashback

Annual Fee

Welcome Offer

Discover will match all the cash back you’ve earned at the end of your first year.

The main draw of this Discover card is the balance transfer offer, which is one of the best we've come across. Unlike many balance transfer cards, it combines that with cash back rewards. But the cash back program doesn't measure up to what other cards offer. Read Full Review
- Sign-up bonus offer
- Gas and restaurants rewards
- 0% intro APR
- No annual fee
- No foreign transaction fee
- Low cash back rates
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
- Get a 0% intro APR for 18 months on balance transfers. Then 18.49% to 27.49% Standard Variable APR applies, based on credit worthiness. Rates as of December 12, 2024.
- Redeem your rewards for cash at any time.
- Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
- No annual fee.
- Terms and conditions apply.

This best balance transfer credit card is great for: You get a fairly competitive balance transfer offer, including an intro balance transfer fee offer. The intro offer for new purchases isn't as impressive, but it's a nice perk on a card aimed at balance transfers. Plus, the card comes with Discover's rock solid reputation for customer service and customer satisfaction.

What to know before applying: Discover cards are generally considered to be fairly easy to get, as Discover is known to be less strict about credit qualifications than other issuers. All the same, if you're concerned about getting approved, you can use Discover's online pre-approval tool to see which Discover credit card might be the best fit for your qualifications.

When to consider an alternative: While the balance transfer offer on this card is great, the one for new purchases isn't as good. If you're looking to save on interest on future purchases, check out some of our other picks for a longer intro period.

Apply for Discover it® Chrome

Ratings Methodology

2025 Award Winner

Wells Fargo Reflect® Card

Great for: Long 0% intro APR

Apply Now for Wells Fargo Reflect® Card

On Wells Fargo's Secure Website.

Rates & Fees

Rating image, 4.50 out of 5 stars.

4.50/5

Rating image, 4.50 out of 5 stars.

4.50/5

Credit Score:

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Apply Now for Wells Fargo Reflect® Card

On Wells Fargo's Secure Website.

Rates & Fees

Credit Score

Good/Excellent (670-850)

Intro APR

Purchases: 0% intro APR, 21 months from account opening

Balance Transfers: 0% intro APR, 21 months from account opening on qualifying balance transfers

Regular APR

17.49%, 23.99%, or 29.24% Variable APR

Rewards

N/A

Annual Fee

Welcome Offer

N/A

This no-frills card is a solid choice if your priority is to avoid credit card interest for as long as possible. It offers an incredible intro APR. The balance transfer fee (5%; $5 min.) is higher than some cards, but if you want an equally long intro APR on purchases, this card is hard to beat. Read Full Review
- Long 0% intro APR offer
- No annual fee
- Cellphone protection
- Free FICO® Score
- Balance transfer fee
- Foreign transaction fee
- No rewards program
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.49%, 23.99%, or 29.24% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
- $0 Annual Fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.

This balance transfer card is great for: Folks who have a mix of new purchase and balance transfer debt who want to save on interest for both. This card has the same competitively long intro term for both types of balances.

What to know before applying: You can typically only be approved for one new Wells Fargo credit card per six-month period, so keep this in mind when deciding which card to open and when. The general consensus is also that you'll be more likely to get approved for a Wells Fargo card if you already have a banking and/or lending relationship with the bank, but it isn't a requirement.

When to consider an alternative: Wells Fargo Reflect® Card has a balance transfer fee of 5%, min: $5. If you're transferring a large amount, consider looking for a card with a lower or promotional balance transfer fee. Even something like 2% can wind up getting very expensive if you're transferring $5,000 or more.

Apply for the Wells Fargo Reflect® Card

Ratings Methodology

2025 Award Winner

Wells Fargo Active Cash® Card

Great for: Unlimited cash back

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees

Rating image, 5.00 out of 5 stars.

5.00/5

Rating image, 5.00 out of 5 stars.

5.00/5

Credit Score:

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees

Credit Score

Good/Excellent (670-850)

Intro APR

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular APR

19.49%, 24.49%, or 29.49% Variable APR

Rewards

2% cash rewards

Annual Fee

Welcome Offer

$200 cash rewards

This card’s unlimited 2% cash rewards on purchases is the highest we’ve seen for a flat-rate rewards card with no annual fee. It also has an incredibly easy-to-earn $200 welcome bonus and a decent intro APR offer. We simply haven’t come across this combination of top perks in one card before. Read Full Review
- Unlimited 2% cash rewards
- Long 0% intro APR offer
- Generous cash rewards welcome bonus
- No annual fee
- Cellphone protections
- No bonus categories
- Foreign transaction fees
- Balance transfer fee
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.49%, 24.49%, or 29.49% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.

This best balance transfer credit card is great for: Folks who need at least a year to pay off a balance transfer, but who don't need a card that's only good for transfers. With this pick, you also get a new purchase APR offer, great rewards, and a good welcome bonus.

What to know before applying: You won't earn cash back on transferred balances, only on new purchases, so this feature won't be useful if you're only interested in balance transfers. It does make it more useful in the long term than more dedicated transfer cards that don't offer any rewards, as those lose value once the intro offer is over.

When to consider an alternative: Since this card offers a bit of everything, it's not as good as a dedicated balance transfer card. If you need the longest intro APR period possible, look for other options.

Apply for the Wells Fargo Active Cash® Card

Ratings Methodology

2025 Award Winner

Citi Simplicity® Card

Great for: Long 0% intro APR

Apply Now for Citi Simplicity® Card

On Citi's Secure Website.

Rates & Fees

Rating image, 4.00 out of 5 stars.

4.00/5

Rating image, 4.00 out of 5 stars.

4.00/5

Credit Score:

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Apply Now for Citi Simplicity® Card

On Citi's Secure Website.

Rates & Fees

Credit Score

Good/Excellent (670-850)

Intro APR

Purchases: 0%, 12 months on Purchases

Balance Transfers: 0%, 21 months on Balance Transfers

Regular APR

18.49% - 29.24% (Variable)

Rewards

N/A

Annual Fee

Welcome Offer

Long intro balance transfer APR

This is one of our favorite cards for balance transfers. It has 0% intro APR for 21 months on balance transfers and a discounted balance transfer fee for the first four months. That combo makes it one of the most generous balance transfer offers we’ve seen. But it doesn't have much ongoing value after the intro 0% APR period ends. Read Full Review
- Great intro APR
- No annual fee
- No late fees
- No penalty APR
- Choose your own payment date
- No rewards
- Foreign transaction fee
- No Late Fees, No Penalty Rate, and No Annual Fee... Ever
- 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.49% - 29.24%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Stay protected with Citi® Quick Lock

This best balance transfer credit card is great for: This is a card that owns what it is: It's a balance transfer credit card, and it doesn't try to do anything else. It has an excellent intro term for balance transfers that is hard to beat, and reasonable fees, particularly if you take advantage of the reduced balance transfer fee that is part of the intro APR offer.

What to know before applying: Citi doesn't like when you apply for too many cards in a short period; specifically, you can't have any more than two Citi card applications within 60 days (many people say 65 days, to be safe) or you'll be automatically denied. There is also some evidence that Citi may auto-deny an application if you have any hard credit pulls within the last five days.

When to consider an alternative: This card doesn't have as generous an intro offer on new purchases as it does transfers, so if you need a deal on a future purchase, look for a different intro APR card.

Read our full Citi Simplicity® Card review here.

Ratings Methodology

Citi Double Cash® Card

Great for: Balance transfers and cash back

Apply Now for Citi Double Cash® Card

On Citi's Secure Website.

Rates & Fees

Rating image, 4.50 out of 5 stars.

4.50/5

Rating image, 4.50 out of 5 stars.

4.50/5

Credit Score:

Recommended Credit Score required for this offer is: Fair to Excellent (580-850)

Apply Now for Citi Double Cash® Card

On Citi's Secure Website.

Rates & Fees

Credit Score

Fair to Excellent (580-850)

Intro APR

Purchases: N/A

Balance Transfers: 0%, 18 months on Balance Transfers

Regular APR

18.49% - 28.49% (Variable)

Rewards

2% cash back

Annual Fee

Welcome Offer

$200

This card combines a top-notch balance transfer offer with best-in-class unlimited 2% cash back on purchases. There's no introductory APR for purchases, so you'll need to pay those off in full every month if you want to avoid interest charges. Read Full Review
- High cash back
- 0% intro APR balance transfer offer
- No annual fee
- Free credit score monitoring
- Foreign transaction fee
- No 0% intro APR on purchases
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time.
  
  Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% - 28.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

This best balance transfer credit card is great for: This is a solid option for folks who want a competitive intro APR offer on balance transfers that includes a promotional balance transfer fee. It even has some long-term potential thanks to the cash back rewards you can earn on purchases.

What to know before applying: You can't earn cash back on balance transfers, but new purchases will be eligible even if you have a current transfer balance. This card earns its cash back in two rounds: You earn 1% back when you make your purchases, and you earn the other 1% cash back when you actually pay off those purchases in full.

When to consider an alternative: There is no intro APR on new purchases, so avoid this card if you're going to be using it for purchases on top of any transferred balances. Those purchases will accrue interest. Check out some alternatives with intro APRs on both types of balances if this is important to you.

Apply for Citi Double Cash® Card

Ratings Methodology

Chase Freedom Flex®

Great for: Rewards versatility

Apply Now for Chase Freedom Flex®

On Chase's Secure Website.

Rating image, 5.00 out of 5 stars.

5.00/5

Rating image, 5.00 out of 5 stars.

5.00/5

Credit Score:

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Apply Now for Chase Freedom Flex®

On Chase's Secure Website.

Credit Score

Good/Excellent (670-850)

Intro APR

Purchases: 0% Intro APR on Purchases, 15 months

Balance Transfers: 0% Intro APR on Balance Transfers, 15 months

Regular APR

19.74% - 28.49% Variable

Rewards

5% cash back offer

Annual Fee

Welcome Offer

$200 bonus

This Chase card is one of our favorites, and with good reason. You earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, alongside other standout perks (and at least 1% on all purchases). Plus, this one comes without an annual fee and with a generous welcome bonus. Read Full Review
- Big sign-up bonus
- Lucrative cash back program
- Long 0% intro APR
- No annual fee
- Purchase and travel protections
- Foreign transaction fee
- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.74%-28.49%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Flex® card
- Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Member FDIC

This best balance transfer credit card is great for: This card is worth considering for people in the market for a balance transfer card they can use for other things, too. The intro APR offers on balance transfers and new purchases are solid, and the purchase rewards are extremely competitive.

What to know before applying: You need to activate the new bonus rewards category every quarter to earn the higher rewards rate, otherwise you'll only earn 1%. I suggest setting a reminder on your phone calendar or allowing Chase to send you reminder notifications or emails so you don't miss out on rewards due to failing to activate the bonus.

When to consider an alternative: Offering so much in one card means compromise, so this card's intro APR offer isn't the absolute best on the market. Look at our other options if you need the longest intro APR term you can get.

Apply for Chase Freedom Flex®

Ratings Methodology

Bank of America® Customized Cash Rewards credit card

Great for: Rewards

Apply Now for Bank of America® Customized Cash Rewards credit card

On Bank of America's Secure Website.

Rating image, 4.50 out of 5 stars.

4.50/5

Rating image, 4.50 out of 5 stars.

4.50/5

Credit Score:

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Apply Now for Bank of America® Customized Cash Rewards credit card

On Bank of America's Secure Website.

Credit Score

Good/Excellent (670-850)

Intro APR

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular APR

18.49% - 28.49% (Variable)

Rewards

1% - 3% cash back

Annual Fee

Welcome Offer

$200 cash back

This card's wide range of extra cash back options speaks for itself, with a choice of six bonus categories you can change monthly for 3% earnings in the category of your choice. And you can earn 2% back automatically at grocery stores and wholesale clubs. No annual fee and a nice welcome bonus also make this one a winner. Plus, if you're a Bank of America Preferred Rewards member, this card will be even more valuable for you. Read Full Review
- Competitive welcome bonus
- Bonus cash back in a category of your choice
- No annual fee
- Great 0% intro & transfer APR offer
- Relationship rewards bonus
- Foreign transaction fee
- Limit on bonus cash back
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
- Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.49% - 28.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

This best balance transfer credit card is great for: If you're looking for a good balance transfer offer but want a card you can keep for a long time, this might be a good fit. The customizable cash back rewards make a good addition to most wallets, so this card has staying power.

What to know before applying: You can change your bonus category choices once per calendar month, so you can curate your rewards to match your spending habits as they change throughout the year. You don't have to change your categories, however. If you're happy with your current choices, you can just leave them alone and they'll roll over to the next month automatically.

When to consider an alternative: This card's balance transfer offer is solid, but it's hardly the best on the market. Look at some other options if you need a longer intro APR term. Some cards offer up to 21 months.

Apply for Bank of America® Customized Cash Rewards credit card

Ratings Methodology

U.S. Bank Visa® Platinum Card

Great for: Balance transfers and purchases

Read Review

Rating image, 4.50 out of 5 stars.

4.50/5

Rating image, 4.50 out of 5 stars.

4.50/5

Credit Score:

Recommended Credit Score required for this offer is: Good/Excellent (670-850)

Read Review

Credit Score

Good/Excellent (670-850)

Intro APR

Purchases: 0%, 21 billing cycles on purchases

Balance Transfers: 0%, 21 billing cycles

Regular APR

18.24% - 29.24% (Variable)

Rewards

N/A

Annual Fee

N/A

Welcome Offer

N/A

Got a big purchase to finance over time? Consider this U.S. Bank card, as it'll give you a whopping 21 billing cycles of 0% APR on purchases. This also goes for balance transfers, making this one a great fit if you have some existing debt to pay off. It also comes without an annual fee.
- Long 0% intro APR offer
- No annual fee
- Cellphone protection
- Free credit score monitoring
- No rewards
- High balance transfer fee
- Foreign transaction fee
- For a limited time, 0% Intro APR on purchases and balance transfers for 21 billing cycles. After that, a variable APR currently 18.24% - 29.24%.
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S. Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
- Choose a payment due date that fits your schedule
- No Annual Fee
- Terms and conditions apply.

U.S. Bank Visa® Platinum Card is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.

This best balance transfer credit card is great for: Folks who need a nice long intro APR on balance transfers, but who may also need to use their card while they pay down the transfer balance. The intro APR on this card applies to both transfers and new purchases, giving you added flexibility.

What to know before applying: This card's intro may work on balance transfers and new purchases, but you still need to stay below your credit limit. Since transferred balances count against your credit limit, this will restrict how much you'll have left for new purchases. It's not ideal to max out your credit limit, even with an intro APR offer, so it's better to pay off your transferred balance in full before adding any new purchases to your card.

When to consider an alternative: If you want to earn rewards on your purchases, either while paying down your transfer or after it's finished, this isn't the card for you. Look at some other options with both an intro offer and rewards.

Read our review of the U.S. Bank Visa® Platinum Card here.

Expert insights on balance transfer cards

Despite the Federal Reserve recently cutting rates, the interest rates on credit cards are still near all-time highs. By transferring an existing balance to a new card, you may benefit from 0% interest for a certain period of months.

Furthermore, you may be eligible for rewards, such as cash back, that you’re not receiving (or at least maximizing) with your current card. Start by looking at the highest-rated card that provides the best collection of rewards for you.

-Robert Brokamp, Certified Financial Planner® and Senior Advisor at The Motley Fool

What is the best balance transfer card (and why)?

I definitely know which one I would pick if I needed one today: the Discover it® Chrome. That's because it has three key features I look for in a balance transfer card:
1. A long intro APR period
2. A low balance transfer fee
3. A credit limit large enough for my transfer
The 0% intro APR offer for balance transfers is nice and long at 18 months. It also has a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* that's on the low end. Plus, in my experience, Discover is usually fairly generous with credit lines.
It also doesn't hurt that Discover has a relatively low standard 18.49% - 27.49% Variable APR *Rates as of December 12, 2024. for qualified cardholders, with no penalty APR. Plus, there aren't many extra fees; the card has no annual fee, no foreign transaction fee, and no overlimit fees.
That said, there isn't a single balance transfer card that's the best for absolutely everyone. It will depend a lot on your credit history, income, and which cards you already have.
Apply for Discover it® Chrome

How to compare balance transfer offers

The three main points you should look at when comparing balance transfer cards are:

The intro APR offer: If you know you'll need a long time to pay off your balance, look for the longest introductory term you can find.
The go-to or standard APR: This factor becomes important if you think you won't be able to pay off your entire transferred balance before the intro offer ends.
The balance transfer fee: Not only do you have to consider the transfer fee in terms of the fee itself -- lower fees are always better -- but the balance transfer fee will also reduce the total amount you can transfer.

One thing you don't need to consider are the rewards. You won't earn rewards on transferred balances, and balance transfers won't count toward any kind of welcome or sign-up bonus requirements.

Compare balance transfer credit cards

The Picks
Card	Rating	Great For
Discover it® Chrome	Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Balance transfers and cash back
2025 Award Winner Wells Fargo Reflect® Card	Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Long 0% intro APR
2025 Award Winner Wells Fargo Active Cash® Card	Rating image, 5.00 out of 5 stars. 5.00/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Unlimited cash back
2025 Award Winner Citi Simplicity® Card	Rating image, 4.00 out of 5 stars. 4.00/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Long 0% intro APR
Citi Double Cash® Card	Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Balance transfers and cash back
Chase Freedom Flex®	Rating image, 5.00 out of 5 stars. 5.00/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Rewards versatility
Bank of America® Customized Cash Rewards credit card	Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Rewards
U.S. Bank Visa® Platinum Card	Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Great For: Balance transfers and purchases

Is it a good idea to transfer credit card balances?

Yes, when you have an intro 0% APR offer on a balance transfer credit card. These offers can save you a significant amount of money on credit card interest, reducing the overall cost of your debt and even your monthly payment.

That said, balance transfers rarely make sense if you don't have a promotional interest rate offer. Unless you can find a card with a remarkably low regular APR, any savings from a small APR decrease would likely be cancelled out by the balance transfer fees.

Our research: What the numbers say

Research from Motley Fool Money found that the average credit card APR is 22.63% (as of the first quarter of 2024). This is high on its own, but it's worse in context: The average cardholder has $6,501 in debt.

Putting these averages to the test, it's easy to see how a balance transfer could be well worth it with the right offer.

Here's how much an intro 0% APR offer could save the average cardholder:

Balance: $6,501
Current APR: 22.63%

Card Name	Intro Balance Transfer Offer	Regular APR	Balance Transfer Fee	Potential Savings*
Discover it® Chrome	0%, 18 months	18.49% - 27.49% Variable APR *Rates as of December 12, 2024.	$195.03 (3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*)	$1,031.19
Citi Double Cash® Card	0%, 18 months on Balance Transfers	18.49% - 28.49% (Variable)	$195.03 (There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5))	$1,031.19
Bank of America® Customized Cash Rewards credit card	0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days	18.49% - 28.49% (Variable)	$195.03 (3% for 60 days from account opening, then 4%)	$828.45

Data source: Issuers, Author's calculations

Author's balance transfer savings calculations
BT fee: They all have a 3% fee, so $6,501 x 0.03 = $195.03
Discover/Citi Savings:
- $6,501 at 22.63%, paid off over 18 months, would cost $1,226.22 in interest fees.
- $1,226.22 − $195.03 = $1,031.19 in savings.
The monthly payment drops from $429.29 to $361.17.
BofA Savings:
- $6,501 at 22.63%, paid off over 15 billing cycles, would cost $1,023.48 in interest fees.
- $1,023.48 − $195.03 = $828.45 in savings.
The monthly payment drops from $501.63 to $433.40.

Is a balance transfer credit card right for you?

It's important to consider the benefits and drawbacks of doing a balance transfer with a balance transfer credit card. While the best balance transfer credit cards can save you hundreds in interest, they can also end up costing you.

A balance transfer credit card can be a good idea if:

You want a lower interest rate. The biggest perk of 0% APR balance transfer credit cards is how much money they can save you. If you have credit card debt that you'll be paying off over six months or longer, then a balance transfer could lead to big savings.
You want to consolidate debt. When you have debt spread out across multiple credit cards, it can be difficult to manage. The best balance transfer cards allow you to consolidate debt so you only need to make one payment per month.
You're trying to boost your credit score. Credit card debt often results in a high credit utilization ratio, a factor that has a big impact on your credit score. Since opening a balance transfer card adds to your total credit, it will lower your credit utilization. That balance transfer could save you money and raise your credit score.

A balance transfer credit card is not a good idea if:

You don't have a plan to pay off your debt. A balance transfer only helps if you take advantage of the opportunity by paying off as much debt as possible before the intro APR period ends, and you don't overspend now that your debt isn't costing you any interest. Otherwise, you could reach the end of the intro period with the same amount of debt or more. Use our balance transfer calculator to see how much you could save with a balance transfer.
You have subpar credit. To qualify for the top balance transfer credit cards, you'll typically need good credit. If your credit is bad or average, it's a good idea to focus on building your credit. That way you don't need to settle for a subpar balance transfer card.
You could pay off existing credit card debt within a few months. When you're this close to paying off your debt, it's usually better to stick with your current credit card. A balance transfer fee could wipe out anything you'd save on interest. Even if it's a balance transfer credit card with no fee, the credit card application will still take time and cause a small dip in your credit score.

Does a balance transfer affect your credit score?

Balance transfers can hurt and help your credit. When you use a balance transfer card, it affects three factors used to calculate your credit score:

New credit (10% of your FICO® Score): The credit card application will cause a hard credit inquiry, which negatively affects the new credit category. It's not a serious issue, though, as most consumers only see their FICO® Scores drop five points or less from a hard inquiry.
Length of credit account history (15% of your FICO® Score): A new credit card decreases your average length of credit account history, and this can hurt your credit.
Credit utilization (30% of your FICO® Score): Your new balance transfer card's credit limit will increase your total credit, causing your credit utilization to go down. That's good for your credit score. But your credit utilization on each individual card is also important. If you end up with high credit utilization on the balance transfer card, then that could have a negative impact.

Although your credit score may or may not drop after a balance transfer, it will likely go up as you pay down your credit card debt. After all, building a positive payment history is one of the best ways to rebuild credit. And balance transfer credit cards allow you to do that faster while also saving on interest.

Is there a limit to how much you can transfer?

You can never transfer a balance that's larger than your credit limit. Some of the best 0% APR balance transfer credit cards will only let you transfer up to a percentage of your credit limit -- usually 70% to 95% -- while others will let you reach your credit limit. Keep in mind that any balance transfer fees will add to your balance, as well. If you're transferring a $1,000 balance to a card with a 3% balance transfer fee, you'll need a credit limit big enough to cover a $1,030 balance.

What is a balance transfer credit card?

A balance transfer credit card moves a balance from one account to another. Once you've completed a balance transfer, the original account is paid off, and you make payments on the account that received the transfer.

You're essentially using the balance transfer card to pay off your debt. The best balance transfer credit cards come with a 0% introductory APR -- similar to 0% intro APR credit cards -- on a qualifying balance transfer. This means that you won't pay credit card interest on the balance transferred for the intro period, which can be anywhere from a few months to 20 or more billing cycles. After the introductory APR ends, the card issuer will start charging the card's regular variable APR on any remaining balance. Paying off your balance quickly will help you avoid getting an interest charge when the intro APR period ends.

The type of debt you can transfer depends on your balance transfer card

Sometimes a card issuer only allows a credit card transfer of balances, whereas others let you transfer all kinds of debt. Consumers typically use balance transfer cards for credit card debt.

The total amount of the transfer, plus any balance transfer fees, must be less than the balance transfer card's credit limit. If it isn't, you'll find your balance transfer denied.

You can't do a credit card transfer between two cards from the same card issuer, either. A balance transfer from a Chase credit card to a Citi credit card is fine, but a transfer between two Chase credit cards wouldn't be allowed.

Balance transfer fees

A balance transfer fee is an extra fee charged by the receiving credit card -- the card you're transferring to -- to process the balance transfer. Typical balance transfer fees range from 3% to 5% of the total amount transferred (usually with a $5 minimum).

Here are some real numbers to get a better idea of what the fee looks like:

Transfer Amount	Balance Transfer Fee (%)	Balance Transfer Fee ($)	Balance Transfer Fee (%)	Balance Transfer Fee ($)
$500.00	3%	$15.00	5%	$25.00
$1,000.00	3%	$30.00	5%	$50.00
$2,000.00	3%	$60.00	5%	$100.00
$3,000.00	3%	$90.00	5%	$150.00
$4,000.00	3%	$120.00	5%	$200.00
$5,000.00	3%	$150.00	5%	$250.00

Data source: Author's calculations.

In addition to an introductory 0% APR, many of our favorite balance transfer cards also come with a promotional balance transfer fee. A fee drop from 5% to 3% can save you $20 per $1,000 transferred, so these promotional rates can be a big money saver.

How the fee impacts your transfer amount

The transfer fee is generally added to your overall credit card balance. For example, if you transfer $1,000 to a credit card with a 3% balance transfer fee, you'll be charged an extra $30. So, your overall balance on the new card will be a total of $1,030.

Your total transfer balance -- the amount you want to transfer plus the transfer fee -- cannot exceed your credit limit. Keep this in mind when calculating how much you can transfer to your new card.

What happens to the old credit card after the balance transfer?

The credit card that originally had the balance will remain open after the balance transfer. Although you can continue using it, you should strongly consider waiting until you've paid off all your credit card debt. That way, you don't run the risk of running up another costly balance and ending up in the same position as before.

About our expertise with balance transfer credit cards: Brittney has spent more than seven years researching the best credit cards for her readers and for herself.

Brittney:
My personal card collection comprises many types of cards, which gives me both professional and personal experience to draw from in my research. I know what to look for in a balance transfer card, including the fees and gotchas that might be hidden in the fine print or behind financial jargon. I also have a ton of experience crunching the numbers, so I can help readers understand the real-life impacts of a balance transfer on their finances.

Article sources

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers.

Our highest-rated credit cards have:

A rewards rate above 2% (or 2x points or miles) with average spending, or competitive 0% intro APR balance transfer and purchase offers
Attainable welcome bonuses that make up for any annual fees
Low annual fees or a balance transfer fee of 3%
Top perks such as purchase and travel protections, no foreign transaction fees, travel credits, and status upgrades

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Our aim is to maintain a balanced best-of list featuring top-scoring credit cards from reputable brands.

Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates credit cards.

FAQs

You usually need a FICO® Score of 670 or higher to qualify for a balance transfer credit card. Most balance transfer cards, especially the ones with a 0% intro APR, are intended for consumers who have good or excellent credit.
A standard balance transfer fee is 3% or 5% of the transaction amount with a $5 minimum. To find out how much a specific credit card charges, check the fees section in its pricing and terms.
A balance transfer card alone most likely won't affect your ability to get a mortgage, but having credit card debt could.
Lenders check your debt-to-income (DTI) ratio when you apply for a mortgage. If you have a high DTI ratio due to credit card debt, that could negatively impact your mortgage application. Large amounts of credit card debt can also affect your credit score, which is another item that mortgage lenders consider.
A balance transfer credit card can accept balance transfers from other cards. When you set up a balance transfer, your balance transfer card is paying off your other credit card(s). The amount you transfer will be taken off the original credit card and put onto the balance transfer card.
A balance transfer can take anywhere from two days to six weeks. It depends on multiple factors, including the card issuers of both cards. Here are the typical balance transfer times for the most popular card issuers:
- - American Express: Usually five to seven days, but can take up to six weeks
  - Bank of America: At least two weeks
  - Capital One: About 15 business days
  - Chase: Seven to 21 days
  - Citi: Two to 21 days
  - Discover: Most transfers are processed within four days, but new accounts have a 14-day waiting period before balance transfer requests can be processed
  - U.S. Bank: Up to 14 days

Meet our expert

Francisca Beer, Ph.D.

Professor of Finance, California State University, San Bernardino

Dr. Francisca Beer, Professor of Finance at California State University, San Bernardino, is renowned for her expertise in corporate finance, capital markets, and international finance. With over 50 publications in esteemed journals and recipient of numerous awards, she is a respected thought leader. Her commitment to financial literacy extends to WalletHub contributions, community workshops, and speaking engagements across the globe.

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Best Balance Transfer Credit Cards of December 2024

Featured balance transfer credit card offers

Best balance transfer credit cards

Discover it® Chrome

Wells Fargo Reflect® Card

Wells Fargo Active Cash® Card

Citi Simplicity® Card

Citi Double Cash® Card

Chase Freedom Flex®

Bank of America® Customized Cash Rewards credit card

U.S. Bank Visa® Platinum Card

What is the best balance transfer card (and why)?

How to compare balance transfer offers

Compare balance transfer credit cards

Is it a good idea to transfer credit card balances?

Our research: What the numbers say

Is a balance transfer credit card right for you?

A balance transfer credit card can be a good idea if:

A balance transfer credit card is not a good idea if:

Does a balance transfer affect your credit score?

What is a balance transfer credit card?

The type of debt you can transfer depends on your balance transfer card

Balance transfer fees

How the fee impacts your transfer amount

Article sources

Our credit card methodology

FAQs

Meet our expert