Balance transfer credit cards offer 0% APR for 15-21 months, giving you a window to pay down high-interest debt without accruing more interest. With the average credit card APR over 24%, transferring a $5,000 balance to a 0% card can save $1,200+ in interest over 18 months.
Our Top Balance Transfer Cards
✓ Pros
- Longest 0% period available (21 months)
- No late fees ever
- No penalty APR
- 21 months 0% on purchases too
✗ Cons
- No rewards program
- 5% transfer fee (higher than some)
- Requires good to excellent credit
✓ Pros
- Potential extension to 24 months
- Cell phone protection included
- Same 0% period on purchases
✗ Cons
- Extension requires on-time payments
- No standard rewards earning
- 5% balance transfer fee
✓ Pros
- Lowest transfer fee at 3%
- Lower regular APR range
- Free FICO score access
✗ Cons
- Shorter intro period than leaders
- No rewards program
- Transfer must be done in 60 days
✓ Pros
- 5% rotating categories + 1% all else
- Cashback Match first year
- Low 3% transfer fee
- No annual fee ever
✗ Cons
- Must activate rotating categories
- Discover less widely accepted
- 18 months vs 21 elsewhere
✓ Pros
- Automatic APR reduction feature
- Dashboard for credit building
- Chase banking ecosystem
✗ Cons
- Higher regular APR
- No rewards program
✓ Pros
- 20 months—near the longest
- Low 3% transfer fee
- Cell phone protection
- Free TransUnion credit score
✗ Cons
- No rewards program
- Requires existing U.S. Bank relationship
Quick Comparison
| Card | 0% Period | Transfer Fee | Annual Fee | Rewards |
|---|---|---|---|---|
| Citi Simplicity | 21 months | 5% | $0 | None |
| Wells Fargo Reflect | 21 months* | 5% | $0 | Deals |
| U.S. Bank Platinum | 20 months | 3% | $0 | None |
| BankAmericard | 18 months | 3% | $0 | None |
| Discover it BT | 18 months | 3% | $0 | 5%/1% |
| Chase Slate Edge | 18 months | 5% | $0 | None |
*Wells Fargo Reflect can extend to 24 months with on-time payments
How Balance Transfers Work
- Apply and get approved — You'll receive a credit limit, which determines how much debt you can transfer.
- Request the transfer — Provide your old card's account number and the amount to transfer within 60-120 days.
- Pay the transfer fee — Typically 3-5% of the amount transferred, added to your balance.
- Make monthly payments — The entire payment goes toward principal at 0% APR.
- Clear the balance before the deadline — Any remaining balance starts accruing interest at the regular APR.
Real Savings Example
Scenario: $8,000 credit card debt at 24% APR
Without transfer: Paying $300/month takes 34 months, costing $2,095 in interest
With 21-month 0% transfer (5% fee): Same $300/month pays off in 28 months, costing only $400 in fees
You save: $1,695 and 6 months
Key Factors to Consider
Length of 0% APR Period
Longer isn't always better—you need enough time to realistically pay off your balance. Divide your total debt by the number of months to calculate your required monthly payment.
Balance Transfer Fee
Most cards charge 3-5% of the transferred amount. On $5,000: 3% = $150, 5% = $250. That $100 difference pales compared to paying 20%+ APR on a card without a transfer offer.
Regular APR After Intro Period
If you might carry a balance past the intro period, compare regular APRs. Some cards jump to 29%+ while others stay closer to 18%.
Maximizing Your Balance Transfer
Calculate Your Payoff Timeline
Before transferring, know exactly what monthly payment will eliminate your balance within the intro period. For a $6,000 transfer over 18 months, you need $334/month.
Don't Use the New Card for Purchases
Keep the card dedicated to debt payoff only to avoid complications with payment allocation.