15 Best Balance Transfer Cards with 0% intro APR of May 2024

The primary factor in a balance transfer or low-interest card’s rating and its inclusion in our list is the quality of its introductory APR offer and ongoing APR. This includes both the introductory rate itself and the length of the intro APR on both balance transfers and new purchases. 

For cards designed primarily for balance transfers, the intro APR offer on balance transfers has the largest impact on overall score. The quality of these cards’ intro APR on new purchases is also considered, but holds less weight than the intro APR on balance transfers. 

For general low-interest cards, the intro APR offer on new purchases has the largest impact on overall score, followed by the ongoing APR and intro APR offer on balance transfers. This weighting assumes cardholders considering a card in this category will prioritize payment flexibility on new purchases or may need to carry a balance long term, whereas cardholders trying to pay off debt will opt for a dedicated balance transfer card.

The cards that score the highest in these categories and are most likely to be included in our list tend to offer long 0% intro APRs on both balance transfer and new purchases as well as a lower-than-average low-end APR. 

Along with evaluating each card’s intro APR offers, we score balance transfer and low-interest cards based on their fees. 

Of primary importance is a card’s balance transfer fee, since this can play a large role in the total cost of a balance transfer. We rate each card’s balance transfer fee based on how it stacks up against the fee you’ll find on competing cards. 

While this fee carries less weight when we assess general low-interest cards than dedicated balance transfer cards, it still factors into our evaluation since cardholders may decide to transfer debt to a low-interest card even if it offers no intro APR or an intro APR higher than 0 percent.

And while a lower balance transfer fee could save you more overall than a few extra months of 0 percent intro APR, this fee carries less weight in our scoring system than a card’s introductory APR and intro APR period. This is because many users prioritize getting as much time as possible to pay off debt while avoiding interest. 

Other fees considered in our assessment include the presence of annual, foreign transaction, cash advance and late payment fees, along with penalty APRs. Annual fees are weighted most heavily since these are the only “unavoidable” fees in the list and tend to be less common on dedicated balance transfer and low-interest credit cards.

While getting a generous intro APR offer and low ongoing APR are likely to be the biggest priorities for someone looking for a low-interest or balance transfer card, we also consider how much value a card can offer after its intro APR comes to an end. 

Balance transfer and low-interest cards receive a higher rating and are more likely to be included in our list of best cards if they also include an ongoing rewards program or unique and valuable perks. Such features make a card more useful long term and make it less likely you’ll need to apply for a new card (and temporarily hurt your credit score) after you pay off debt.

With this in mind, our best cards list often includes a number of rewards and cash back cards alongside dedicated balance transfer cards. These cards tend to offer slightly shorter intro APR periods, but could help you save more overall, either via rewards earned on everyday spending, valuable perks or a lower balance transfer fee.

Experian’s most recent data shows that the average credit card balance reached $6,501 in the third quarter of 2023. We’ve set up a scenario based on this average, where you would transfer a credit card balance of $6,501 based on the following conditions:

• Balance transfer fee: You would pay the 3 percent to 5 percent balance transfer fee upfront. 
• Intro offer: You would pay off the $6,501 balance within the intro offer period for each card.
• Interest and savings: We calculate potential savings with each card by comparing how much interest you would pay on your current card at 20 percent APR (approximately the current average interest rate), minus the balance transfer fee.

The chart below highlights some of our top balance transfer cards and demonstrates potential savings with each one.

Card Name	Balance transfer intro period	Regular APR	Balance transfer fee	Potential savings*
Citi Simplicity® Card	0% for 21 months on Balance Transfers	19.24% - 29.99% (Variable)	$190.95 (There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.)	$1,062
Wells Fargo Reflect® Card	0% intro APR for 21 months from account opening on qualifying balance transfers	18.24%, 24.74%, or 29.99% Variable APR	$318.25 (5%, min: $5)	$932
Blue Cash Everyday® Card from American Express	0% on balance transfers for 15 months	19.24% - 29.99% Variable	$190.95 Either $5 or 3% of the amount of each transfer, whichever is greater.	$705

 

For example, a Reddit user had $9,000 in credit card debt that they could pay off with emergency savings. However, they asked the community whether a balance transfer card would be a better idea since they were worried about potential emergencies. Both solutions quickly gained traction in the thread: one user suggested a balance transfer card, but another recommended using an emergency fund.

“If you can avoid using the 0 percent APR as an opportunity to take on more debt, it’s probably a good idea,” one user commented in favor of balance transfer cards. “[T]aking the balance transfer offer would probably save you money unless you pay off your current card in less than three months.”

But another user pointed out that savings accounts don’t accumulate interest as fast as credit cards do, so paying off the debt with an emergency fund may be the better option.

Both options are valid and have their advantages and drawbacks if you’re in a similar dilemma. A balance transfer card could protect your savings, but a financial emergency could derail your payment plan. Paying off the balance with your savings immediately gets you out of debt, but any unexpected expenses could risk you getting into credit card debt again.

In another example, a myFICO Forum user recently asked for advice for handling lingering debt after a balance transfer. Many other users advised them to stick to a strict budget and stop using credit cards altogether. Some mentioned using a home equity line of credit or a home equity loan, but using the equity you’ve built in your home to pay off unsecured credit card debt should be a last-resort option.

Finding a credit card debt payoff plan that works for you is the best approach if you catch your card balance snowballing before it’s unmanageable. An issuer’s credit card hardship program may help pay off debt if you qualify, but some of these repayment plans may still allow interest to accrue. And as some of myFICO Forum users mentioned, getting an installment loan from a bank to pay off your credit card debt could save you money on interest, but these can be risky options if you don’t adjust your spending habits.

A balance transfer credit card is one of the best options to pay off your credit card debt. After you transfer your balance, make sure you also address the issue that caused you to need a balance transfer in the first place. As many people warn across the internet, controlling spending and ditching credit cards altogether may be the ultimate solution to avoiding credit card debt.

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

Some of the best balance transfer cards require good to excellent credit (FICO score of 670 – 850) to qualify. Even more, last year, credit lenders reported tightening their approval standards, meaning it may be more difficult to qualify for a certain card now. If your credit isn't up to par yet, you may be able to find secured credit cards that allow balance transfers, but they probably won't have 0 percent intro APR offers. 

Currently, the Wells Fargo Reflect, Citi Diamond Preferred and Citi Simplicity cards offer some of the longest intro APR periods. Although any temporary break from credit card APR is beneficial, a longer intro offer will give you the best opportunity to pay off your transferred balance. 

A few factors could cause you to experience a temporary dip in your credit score after you complete a balance transfer. Applying for a new credit card usually involves a hard inquiry, and opening a new card shortens your average account age. Also, if you apply for many new accounts in a short time or close an account as soon as you transfer a balance, these actions could negatively affect your score.

However, your credit score won't be as affected if you pay down the balance on time every month and keep your debt-to-credit ratio low overall. 

Read more: How does a balance transfer affect your credit score?

To complete a balance transfer, you’d need to complete the following: 

1. Apply for a balance transfer credit card and get approved
2. Initiate a transfer to your new balance transfer card through your online account with your new issuer
3. Wait for verification that the transfer is complete
4. Set your payment plan in motion

Learn more: How to do a balance transfer

Transferring a credit card balance to a balance transfer card is one of the best ways to pay off debt and save money, but you have other options, too. Here are a few alternatives to consider:

• Personal or debt consolidation loan: A debt consolidation loan can bundle multiple credit card balances in one loan, often with a lower, fixed interest rate.
• Ask for a reduced interest rate: Call your issuer and ask if you qualify for a lower APR on your credit card to help you pay down your debt.
• Use a credit card payoff calculator: Maybe your debt repayment plan simply needs a hard reset. A credit card payoff calculator can help you customize a plan for paying off your balances that works best for you.

 

Yes, but transferring balances multiple times can quickly deplete your available credit and increase your overall debt-to-credit ratio since you're only moving the debt and not paying it off. That makes it harder for you to get approved for future credit and can cause your interest rates to rise as well. If you are in a position where you need to transfer your credit card balance more than once, then you should consider alternative options before doing so.

The amount of time it takes for a balance to transfer from one credit card to another will vary by issuer. The process typically takes five to seven days, but some credit card companies may take up to six weeks to complete balance transfers. Others may take as little as two days. You will typically receive an estimated turnaround time from your card provider in advance.

Also, if your new card issuer approves your balance transfer request, it must coordinate the transfer with your current card issuer, which could cause potential delays.

Learn more: How long does a balance transfer take?

Your transfer limit is usually equal to or less than your credit limit. For example, if an issuer approves you for a credit limit of $5,000, you can transfer up to the same amount with most issuers. However, your credit limit and the balance transfer policies of your specific issuer will determine the amount you can transfer.

Read more: What is the limit for a balance transfer card?