Balance transfer cards are a helpful tool for reducing interest expense when used
judiciously. There are three significant questions to ask when it comes to balance
transfers: What is the APR? How long does the promotional APR last? What are the
transaction fees? Take a look at our top choices below to find the best card for you.
Best Overall Balance Transfer Card
Slate℠ from Chase®
Slate℠ from Chase® is arguably the best balance transfer card on the market. It offers balance
transfers with NO transaction fees and 0% on both the transfer and all new purchases
for 15 months. The card carries no annual fee. Excellent credit is required though
Chase offers lower credit versions of the card with different (but still good) balance
transfer terms. We really like this card.
Longest Promotional APR Term Balance Transfer Card
Citi Simplicity® Card
The Citi Simplicity Card offers 0% APR on both purchases and transfers for an industry
leading 18 months. The card carries no rewards program but adds a couple unusual and
valuable perks by eliminating late payment fees and penalty APR rates for late payments.
Cardholders also enjoy car rental insurance and extended warranty benefits (see Citi's
website for details).
A good choice for individuals looking to consolidate debt and reduce interest payments.
Best Combined Balance Transfer and Rewards Card
A 1% cash back card with bonus categories that carry 5% cash back. The card carries no
overlimit fees, no annual fee and no foreign transaction fees so it's a winner for
travelers. Discover it® offers 18 months of 0% APR on balance transfers and
6 months of 0% intro APR on purchases and applicants
with the strongest credit can get APR rates as low as 10.99% (though rates can run as
high as 22.99% for those who are less qualified). The card is a strong choice for
people with excellent credit who prefer a cash back program,
however holders must be willing to manually sign up for the rotating offers each quarter
in order to take advantage of the special 5% cash back.
* Terms and limitations apply. See the online credit card applications for details about terms and conditions of
programs and offers. APR rates are generally variable. Reasonable efforts are made to maintain
accurate information, however all
credit card information is presented without warranty. When you click on the "Apply” button you
can review the credit card terms and conditions on the credit card issuer's web site.
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This site does not include all credit card issuers or
all available credit card offers.
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