Best Balance Transfer Credit Cards

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

Discover it®

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.

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