Choosing the Best Balance Transfer Credit Card for You (2024)

Personal Finance Credit Cards

Written by Tessa Campbell; edited by Katherine Fan; reviewed by Angela Fung

Updated

  • Best Balance Transfer Credit Cards
  • Best for 0% Intro APR on Balance Transfers and Purchases
  • Best for Flexible Rewards on Everyday Expenses
  • Best for Balance Transfer Length
  • Best for Groceries, Gas, and Online Shopping
  • Best for Custom Cash Back Categories
  • Best for Building Credit
  • Balance Transfer Basics
  • FAQs
  • Why You Should Trust Us

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews.

The information for the following product(s) has been collected independently by Business Insider: Citi Simplicity® Card. The details for these products have not been reviewed or provided by the issuer.

Best Balance Transfer Credit Cards of June 2024

  • Best balance transfer card for 0% intro APR on balance transfers and purchases: Wells Fargo Reflect® Card
  • Best balance transfer card for long balance transfer period: Citi Simplicity® Card
  • Best for flexible rewards on everyday expenses: Chase Freedom Unlimited®
  • Best for groceries, gas, and online shopping: Blue Cash Everyday® Card from American Express
  • Best for custom cash back categories: Bank of America® Customized Cash Rewards Credit Card
  • Best if you're building credit: Chase Slate Edge℠

Introduction to Balance Transfer Cards

If you're carrying credit card debt, you can reduce high interest by transferring your outstanding balance to a credit card with zero interest starting out, also called a 0% intro APR.

But a 0% intro APR isn't a license to splurge. Be sure to use your credit card responsibly, and avoid spending more than you can afford to prevent incurring even more debt.

Best Balance Transfer Credit Card Comparison

Best for an extra-long intro APR on balance transfers and purchases

Wells Fargo Reflect® Card

Apply now

On Wells Fargo's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.5/5

Perks

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days, then 18.24%, 24.74%, or 29.99% variable APR

Annual Fee

$0

Intro APR

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days

Regular APR

18.24%, 24.74%, or 29.99% variable

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Extra-long intro APR on purchases and qualifying balance transfers
  • No annual fee
  • Cell phone protection

Cons

  • No rewards
  • Foreign transaction fees

Insider’s Take

If you're looking for the best Wells Fargo credit card for balance transfers, the Wells Fargo Reflect® Card is a great choice. And it offers an extra-long interest-free period on new purchases, too.

Wells Fargo Reflect Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • 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. 18.24%, 24.74%, or 29.99% 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.

Best for late payment forgiveness

Citi Simplicity® Card

Choosing the Best Balance Transfer Credit Card for You (2)

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.33/5

Perks

0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months, then 19.24% - 29.99% Variable APR.

Annual Fee

$0

Intro APR

0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months

Regular APR

19.24% - 29.99% Variable

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Offers one of the longest intro APR periods for balance transfers (21 months)
  • No late fees or penalty APR for late payments

Cons

  • Higher balance transfer fee than some other cards
  • Doesn't offer rewards, so you may want to upgrade to another card once you're done paying off your debt

Insider’s Take

The Citi Simplicity® Card can be helpful to those carrying big balances on high-interest credit cards. The card can give you a chance to get ahead of crippling monthly interest fees by giving you a long intro APR on balance transfers and purchases.

Citi Simplicity Card review External link Arrow An arrow icon, indicating this redirects the user."

Best for earning flexible rewards on everyday spending

Chase Freedom Unlimited®

Apply now

On Chase's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

4.35/5

Perks

Earn 5% cash back on Chase travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

Annual Fee

$0

Intro APR

0% intro APR on purchases and balance transfers for the first 15 months

Regular APR

20.49% - 29.24% Variable

Intro Offer

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back

Earn an additional 1.5% cash back on everything you buy

Recommended Credit

Good to Excellent

Pros

  • Solid flat cash-back rate
  • You can combine cash-back rewards with Ultimate Rewards points if you have an eligible card
  • No annual fee

Cons

  • Some other cards offer a higher rate of cash back on certain types of purchases

Insider’s Take

The Chase Freedom Unlimited® is a great choice for credit card beginners and experts alike. With no annual fee and a high earnings rate, it's worth considering as an everyday card — and it's even better when you pair it with an annual-fee Chase card like the Chase Sapphire Reserve®.

Chase Freedom Unlimited review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% 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; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% 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!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
  • Member FDIC

Best for groceries, gas, and online shopping

Blue Cash Everyday® Card from American Express

Apply now

On American Express's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.5/5

Perks

Earn 3% cash back at U.S. supermarkets, U.S. online retail purchases, and at U.S. gas stations (on up to $6,000 on purchases in each category per year in purchases, then 1% cash back). Earn 1% cash back on all other purchases.

Annual Fee

$0

Intro APR

0% intro APR on purchases and balance transfers for 15 months from account opening

Regular APR

19.24% - 29.99% Variable

Intro Offer

$200 statement credit after you spend $2,000 in purchases on your new card in the first six months of card membership

Earn a $200 statement credit

Recommended Credit

Good to Excellent

Pros

  • Good bonus cash-back rate at U.S supermarkets
  • No annual fee.

Cons

  • If you spend more than $6,000 at U.S supermarkets in a year, you should use another card to earn bonus rewards once you hit that cap.

Insider’s Take

The Blue Cash Everyday® Card from American Express is a solid cash-back card with no annual fee. It's an especially valuable choice for purchases at US supermarkets, gas stations, and online retail purchases, thanks to its bonus earning categories.

Amex Blue Cash Everyday Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
  • No Annual Fee.
  • Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
  • 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
  • 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
  • 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
  • Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
  • Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
  • Terms Apply.

Best for customizing cash-back bonus categories

Bank of America® Customized Cash Rewards Credit Card

Choosing the Best Balance Transfer Credit Card for You (5)

Insider’s Rating

Business Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.9/5

Perks

Earn 3% cash back in the category of your choice and automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly 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. Earn unlimited 1% on all other purchases.

Annual Fee

$0

Intro APR

0% intro APR for 15 billing cycles on purchases and on any balance transfers made within 60 days of account opening

Regular APR

19.24% - 29.24% Variable

Intro Offer

$200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening

Earn a $200 online cash rewards bonus

Recommended Credit

Good to Excellent

Pros

  • No annual fee
  • Broad 2% and 3% cash-back categories

Cons

  • Earn 2% and 3% cash-back categories capped at $2,500 in combined purchases each quarter.

Insider’s Take

The Bank of America® Customized Cash Rewards Credit Card is worth considering if you're looking for a no-annual-fee cash-back credit card that lets you choose your highest rewards category.

Bank of America® Customized Cash Rewards Credit Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • $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 19.24% - 29.24% 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.

Best if you're building credit

Chase Slate Edge℠

Choosing the Best Balance Transfer Credit Card for You (6)

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

2.75/5

Perks

0% intro APR on purchases and balance transfers for 18 months from account opening, then 20.49% - 29.24% Variable APR.

Annual Fee

$0

Intro APR

0% intro APR on purchases and balance transfers for 18 months from account opening

Regular APR

20.49% - 29.24% Variable

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Introductory APR on purchases and balance transfers for the first 18 months
  • No annual fee
  • Potential for automatic consideration for credit limit increases and purchase APR reductions

Cons

  • Card doesn’t earn rewards beyond the welcome bonus
  • Other cards have longer intro APR offers
  • Consideration for purchase APR reduction and credit line increase requires meeting a minimum spending requirement and on-time payments

Insider’s Take

If you're looking for a card with a long introductory APR offer to pay off your balance, this card could fit the bill. However, that's the main draw, since you won't earn any rewards or a welcome bonus.

Chase Slate Edge review External link Arrow An arrow icon, indicating this redirects the user."

Best Balance Transfer Credit Card Reviews

If you're already carrying credit card debt, a credit card that offers 0% introductory APR on balance transfers can be a godsend for your finances. A good balance transfer credit card should offer a long period of no interest, relatively low fees for the transaction, and rewards on other money spent on new purchases.

The cards in this guide are the cream of the crop, according to Business Insider's team of credit card experts.

Best Balance Transfer Card for 0% Intro APR on Balance Transfers and Purchases

Best for an extra-long intro APR on balance transfers and purchases

Wells Fargo Reflect® Card

Apply now

On Wells Fargo's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.5/5

Perks

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days, then 18.24%, 24.74%, or 29.99% variable APR

Annual Fee

$0

Intro APR

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days

Regular APR

18.24%, 24.74%, or 29.99% variable

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Extra-long intro APR on purchases and qualifying balance transfers
  • No annual fee
  • Cell phone protection

Cons

  • No rewards
  • Foreign transaction fees

Insider’s Take

If you're looking for the best Wells Fargo credit card for balance transfers, the Wells Fargo Reflect® Card is a great choice. And it offers an extra-long interest-free period on new purchases, too.

Wells Fargo Reflect Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • 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. 18.24%, 24.74%, or 29.99% 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.

The Wells Fargo Reflect® Card tops our list for its extra-long intro APR offer on both balance transfers and purchases. New cardholders receive a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers made within 120 days (then 18.24%, 24.74%, or 29.99% variable APR). Balance transfers must occur within 120 days of account opening to qualify for the intro 0% APR rate, and will come with a fee of 5%, min: $5.

Although the card doesn't earn Wells Fargo rewards for spending, cardholders get a handful of good benefits, including cellphone protection and roadside dispatch. Cellphone protection is particularly compelling because no-annual-fee cards typically don't offer this benefit. When you use the Wells Fargo Reflect® Card to pay your monthly cellphone bill, you'll receive up to $600 in coverage for eligible cellphone damage or theft, after a $25 deductible, with a maximum of two claims per 12-month period.

Read more about this card in our Wells Fargo Reflect review.

Best Balance Transfer Card for Flexible Rewards on Everyday Expenses

Best for earning flexible rewards on everyday spending

Chase Freedom Unlimited®

Apply now

On Chase's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

4.35/5

Perks

Earn 5% cash back on Chase travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

Annual Fee

$0

Intro APR

0% intro APR on purchases and balance transfers for the first 15 months

Regular APR

20.49% - 29.24% Variable

Intro Offer

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back

Earn an additional 1.5% cash back on everything you buy

Recommended Credit

Good to Excellent

Pros

  • Solid flat cash-back rate
  • You can combine cash-back rewards with Ultimate Rewards points if you have an eligible card
  • No annual fee

Cons

  • Some other cards offer a higher rate of cash back on certain types of purchases

Insider’s Take

The Chase Freedom Unlimited® is a great choice for credit card beginners and experts alike. With no annual fee and a high earnings rate, it's worth considering as an everyday card — and it's even better when you pair it with an annual-fee Chase card like the Chase Sapphire Reserve®.

Chase Freedom Unlimited review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% 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; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% 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!
  • Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
  • No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
  • Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
  • Member FDIC

The Chase Freedom Unlimited® is a great pick if you're looking for an intro APR on balance transfers and purchases with the opportunity to earn generous rewards for your day-to-day spending. New cardholders receive a 0% intro APR on purchases and balance transfers for the first 15 months(then a 20.49% - 29.24% Variable APR).

The intro balance transfer fee is 3% of the amount of each transfer (or $5, whichever is greater) on transfers made within 60 days of account opening. After that, the fee jumps to 5% of the amount of each transfer (or $5, whichever is greater). This card has no annual fee, but you will pay foreign transaction fees on international purchases.

While the Chase Freedom Unlimited® is marketed as a cash-back credit card, it actually earns those rewards in the form of Chase Ultimate Rewards® points. You can use these points as cash, or you can redeem them for travel booked through the Chase TravelSM Portal, gift cards, merchandise, and more.

If you have more than one Chase Ultimate Rewards-earning credit card, you can also transfer your points on a card with elevated redemption rates, such as the Chase Sapphire Reserve® or the Chase Sapphire Preferred® Card, for additional value.

This card starts you out with a welcome bonus offer of additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year). You'll also earn 5% back (5x points) on travel booked through Chase, 5% back (5x points) on Lyft rides through March 2025, 3% back (3x points) on dining (including takeout) and drugstores, and 1.5% back (1x points) on all other eligible purchases.

If you also have an annual-fee Chase card that earns Chase Ultimate Rewards points, such as the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, you can combine your rewards and unlock more redemption options, including transferring points to Chase's airline and hotel partners.

Learn more about this card in our Chase Freedom Unlimited review.

Best Balance Transfer Card for Balance Transfer Length

Best for late payment forgiveness

Citi Simplicity® Card

Choosing the Best Balance Transfer Credit Card for You (9)

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.33/5

Perks

0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months, then 19.24% - 29.99% Variable APR.

Annual Fee

$0

Intro APR

0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months

Regular APR

19.24% - 29.99% Variable

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Offers one of the longest intro APR periods for balance transfers (21 months)
  • No late fees or penalty APR for late payments

Cons

  • Higher balance transfer fee than some other cards
  • Doesn't offer rewards, so you may want to upgrade to another card once you're done paying off your debt

Insider’s Take

The Citi Simplicity® Card can be helpful to those carrying big balances on high-interest credit cards. The card can give you a chance to get ahead of crippling monthly interest fees by giving you a long intro APR on balance transfers and purchases.

Citi Simplicity Card review External link Arrow An arrow icon, indicating this redirects the user."

Consumers with a lot of high-interest credit card debt could save more with a card that offers a 0% intro APR for as long as possible. The Citi Simplicity® Card extends one of the best offers in this category.

There's no annual fee, yet you get a 0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months. After that, your rate goes up to 19.24% - 29.99% Variable APR based on your creditworthiness.

You can pay down a ton of debt by responsibly taking advantage of this card's full 21 months with a 0% intro APR on balance transfers. But you'll pay a 3% balance transfer fee (minimum of $5) for the privilege. You'll also need to complete any transfers within the first four months after you open the card in order to qualify for the introductory APR.

The Citi Simplicity® Card also offers automatic account alerts, 24/7 customer service, and the ability to choose your payment due date.

Learn more about this card in our Citi Simplicity Card review.

Best for groceries, gas, and online shopping

Blue Cash Everyday® Card from American Express

Apply now

On American Express's website

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.5/5

Perks

Earn 3% cash back at U.S. supermarkets, U.S. online retail purchases, and at U.S. gas stations (on up to $6,000 on purchases in each category per year in purchases, then 1% cash back). Earn 1% cash back on all other purchases.

Annual Fee

$0

Intro APR

0% intro APR on purchases and balance transfers for 15 months from account opening

Regular APR

19.24% - 29.99% Variable

Intro Offer

$200 statement credit after you spend $2,000 in purchases on your new card in the first six months of card membership

Earn a $200 statement credit

Recommended Credit

Good to Excellent

Pros

  • Good bonus cash-back rate at U.S supermarkets
  • No annual fee.

Cons

  • If you spend more than $6,000 at U.S supermarkets in a year, you should use another card to earn bonus rewards once you hit that cap.

Insider’s Take

The Blue Cash Everyday® Card from American Express is a solid cash-back card with no annual fee. It's an especially valuable choice for purchases at US supermarkets, gas stations, and online retail purchases, thanks to its bonus earning categories.

Amex Blue Cash Everyday Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
  • No Annual Fee.
  • Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
  • 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
  • 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
  • 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
  • Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
  • Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
  • Terms Apply.

Amex offers a handful of cards with a 0% intro APR on balance transfers. One of the best is the no-annual-fee Blue Cash Everyday® Card from American Express, which comes with useful bonus categories and monthly statement credits toward Home Chef and The Disney Bundle, which includes Disney+, Hulu, and ESPN+.

New cardholders receive a 0% intro APR on purchases and balance transfers for 15 months from account opening, followed by 19.24% - 29.99% Variable APR. To qualify for the introductory rate, balance transfers must be completed within the first 60 days of account opening. You'll also pay a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.

There's also a welcome bonus offer of a $200 statement credit after you spend $2,000 in purchases on your new card in the first six months of card membership.

With the Blue Cash Everyday® Card from American Express you'll earn:

  • 3% cash back at US supermarkets (up to $6,000 per year, then 1%)
  • 3% cash back on US gas stations (up to $6,000 per year in purchases, then 1%)
  • 3% cash back on US online retail purchases (up to $6,000 per year, then 1%)
  • 1% cash back on all purchases (cash back is received in the form of Reward Dollars)

In addition to the cashback rewards, the Blue Cash Everyday® Card from American Express gets you perks like car rental insurance, purchase protection, access to the Global Assist Hotline, and the Amex Offers** program.

Learn more about this card in our Blue Cash Everyday Amex Card review.

Best for Custom Cash Back Categories

Best for customizing cash-back bonus categories

Bank of America® Customized Cash Rewards Credit Card

Choosing the Best Balance Transfer Credit Card for You (11)

Insider’s Rating

Business Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

3.9/5

Perks

Earn 3% cash back in the category of your choice and automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly 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. Earn unlimited 1% on all other purchases.

Annual Fee

$0

Intro APR

0% intro APR for 15 billing cycles on purchases and on any balance transfers made within 60 days of account opening

Regular APR

19.24% - 29.24% Variable

Intro Offer

$200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening

Earn a $200 online cash rewards bonus

Recommended Credit

Good to Excellent

Pros

  • No annual fee
  • Broad 2% and 3% cash-back categories

Cons

  • Earn 2% and 3% cash-back categories capped at $2,500 in combined purchases each quarter.

Insider’s Take

The Bank of America® Customized Cash Rewards Credit Card is worth considering if you're looking for a no-annual-fee cash-back credit card that lets you choose your highest rewards category.

Bank of America® Customized Cash Rewards Credit Card review External link Arrow An arrow icon, indicating this redirects the user."

Product Details

  • $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 19.24% - 29.24% 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.

The Bank of America® Customized Cash Rewards Credit Card offers a long interest-free period on both balance transfers and purchases, and it's a solid choice if you want to earn a high rate of cashback in the category you choose.

New cardholders receive a 0% intro APR for 15 billing cycles on purchases and on any balance transfers made within 60 days of account opening APR, followed by a 19.24% - 29.24% Variable APR. You'll pay a balance transfer fee of 3% for 60 days from account opening, then 4% per transaction.

And there's a decent welcome offer: a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening. The card earns 3% cash back in a category of your choice (gas/EV charging, online shopping, dining, travel, drug stores, or home improvement/furnishings); 2% back at grocery stores and wholesale clubs; and 1% back on all other purchases. The 3% and 2% rates apply to the first $2,500 in combined purchases per quarter (then 1% cash back).

Read a deeper explanation of this card's benefits in our Bank of America Customized Cash review.

Best Balance Transfer Card for Building Credit

Best if you're building credit

Chase Slate Edge℠

Choosing the Best Balance Transfer Credit Card for You (12)

Insider’s Rating

Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals.

2.75/5

Perks

0% intro APR on purchases and balance transfers for 18 months from account opening, then 20.49% - 29.24% Variable APR.

Annual Fee

$0

Intro APR

0% intro APR on purchases and balance transfers for 18 months from account opening

Regular APR

20.49% - 29.24% Variable

Intro Offer

N/A

Recommended Credit

Good to Excellent

Pros

  • Introductory APR on purchases and balance transfers for the first 18 months
  • No annual fee
  • Potential for automatic consideration for credit limit increases and purchase APR reductions

Cons

  • Card doesn’t earn rewards beyond the welcome bonus
  • Other cards have longer intro APR offers
  • Consideration for purchase APR reduction and credit line increase requires meeting a minimum spending requirement and on-time payments

Insider’s Take

If you're looking for a card with a long introductory APR offer to pay off your balance, this card could fit the bill. However, that's the main draw, since you won't earn any rewards or a welcome bonus.

Chase Slate Edge review External link Arrow An arrow icon, indicating this redirects the user."

The Chase Slate Edge℠ doesn't earn cardholders rewards on purchases, or offer a welcome bonus, but that's not the point of the card. The card is geared toward folks looking to improve their financial situation and increase their credit score.

With the Chase Slate Edge℠, you'll get a great 0% intro APR on purchases and balance transfers for 18 months from account opening (then a20.49% - 29.24% Variable APR). So if you're looking for 0% APR on both balance transfers and purchases, this card is definitely worth considering.

Moreover, you can receive an automatic, one-time review of your credit for the chance of a higher limit. But you'll first need to consistently pay on time and spend at least $500 in the first six months of opening the card.

On each account anniversary, you'll be considered for a 2% APR reduction, as long as you've paid your card on time and spent at least $1,000 on purchases in the previous anniversary year. The reduction is capped, though — it will only be reduced until your APR reaches the Prime Rate plus 9.74% (Prime Rate is 8.50% as of 7/27/2023).

Learn more about this card in our Chase Slate Edge review.

Balance Transfer Credit Card Basics

The average credit card interest rate is over 20%, and can be significantly higher depending on your credit score and the card you're using. The last thing you want to do is find yourself in the quicksand of credit card interest.

Before you decide to use a 0% intro APR credit card, be sure you have the means and a plan to pay off your balance in full before the introductory APR period ends. Otherwise, you'll have to pay interest on your remaining balance.

If you don't think you'll be able to pay off your debt in full by the time the introductory APR offer expires, a balance transfer credit card may not be worth it.

Balance Transfer Cards, Explained

A balance transfer card is a credit card that lets those with existing debt move their outstanding balance over from another card to avoid interest fees. You can avoid interest on a balance transfer card thanks to an intro 0% APR offer, which lasts anywhere from nine to 21 months.

After this introductory period is over, your APR will reset to the standard variable rate, so you must pay off your credit card debt in full before the intro APR period ends to avoid paying hefty interest charges.

What's the catch? One disadvantage is that balance transfer credit cards typically charge an upfront fee of 3% or 5% of your balance, or a flat fee of $300 to $500 for every $10,000 in high-interest debt you transfer. If you don't need to transfer a balance but need to make a large purchase that you'll need time to pay off, see our list of the best zero interest credit cards.

Credit Card Balance Transfer: Pros and Cons

The good thing about balance transfer credit cards is that you can get more time to pay off an existing balance without incurring sky-high interest fees. Balance transfers also allow you to consolidate credit card debt into one card, which makes it easier to manage your payments without anything slipping through the cracks. And, as mentioned above, opening a balance transfer card can improve your credit score by lowering your credit utilization ratio, provided you don't use up the line of credit on your new card.

On the downside, most balance transfer cards come with a balance transfer fee — usually 3% to 5% of the amount you're transferring. The other huge potential drawback is that if you don't pay off your total balance before the promotional APR period ends, you'll end up paying high interest rates. So you'll want to make sure it's feasible to pay down your balance before the intro APR offer ends.

Balance Transfer Credit Card Frequently Asked Questions

How do balance transfer cards work?

Balance transfer cards allow you to pay lower interest rates on existing credit card debt, which can save you a significant amount of money in a short amount of time. With a balance transfer credit card, you'll pay a 3% to 5% fee per transaction to transfer existing debt from an existing card.

Is a balance transfer card right for me?

A balance transfer credit card could help you escape credit card debt if you make a plan to pay it off. Transferring your outstanding balance from a high-interest credit card to one with a 0% intro APR period can give you some financial breathing room. But they're only effective if you pay off the full outstanding balance before the intro period ends; otherwise, you'll start paying high interest once more.

How do I do a balance transfer?

To complete a balance transfer, you'll first have to apply and get approved for a balance transfer credit card. Once you have a card with an introductory APR offer on balance transfers, you'll need to initiate the transfer through the bank that issues your new balance transfer credit card.

You can usually complete this process online, or by calling the number on the back of your 0% intro APR credit card.

How long does a balance transfer take?

A balance transfer generally takes five to seven days, but the actual time can vary by issuer. Your bank may ask you to allow up to 21 days for a balance transfer to go through, but the transfer should usually be completed sooner.

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

Balance transfer credit cards usually require at least a good credit score to qualify. If you have bad credit — typically defined as a FICO score below 670 — you probably won't be approved for a balance transfer card.

A bank may be less inclined to approve you for a balance transfer card if your credit score and credit report indicate that you haven't consistently paid off past debts.

Do balance transfers affect your credit score?

Balance transfers can affect your credit in both positive and negative ways. Opening a balance transfer credit card can help your credit score by increasing your total available credit, which in turn improves your credit utilization rate. Paying down your debt will also be beneficial to your credit score.

However, opening a new credit card triggers a hard inquiry on your credit report, which can decrease your credit score in the short term. You'll also pay a 3% to 5% balance transfer fee, which adds to your existing debt.

Why You Should Trust Us: How We Chose the Credit Cards for Balance Transfers

Business Insider selected the best balance transfer cards by looking at all the credit cards with balance transfer offers that are currently available to new applicants.

From there, we narrowed our list to balance transfer cards offering 0% introductory offers. We arrived at our final picks by evaluating the terms of each introductory APR offer and other card benefits. We prioritized cards that charge lower balance transfer fees as well as cards with the longest introductory 0% APR periods on balance transfers. We also factored in other card benefits, such as cash back or travel rewards, annual fees, and waived late fees.

Here's Business Insider's methodology for rating credit cards.

Tessa Campbell

Investing and Retirement Reporter

Tessa Campbell is a investing and retirement reporter on Business Insider’s personal finance desk. Over two years of personal finance reporting, Tessa has built expertise on a range of financial topics, from the best credit cards to the best retirement savings accounts.ExperienceTessa currently reports on all things investing — deep-diving into complex financial topics, shedding light on lesser-known investment avenues, and uncovering ways readers can work the system to their advantage.As a personal finance expert in her 20s, Tessa is acutely aware of the impacts time and uncertainty have on your investment decisions. While she curates Business Insider’s guide on the best investment apps, she believes that your financial portfolio does not have to be perfect, it just has to exist. A small investment is better than nothing, and the mistakes you make along the way are a necessary part of the learning process.Expertise:Tessa’s expertise includes:

  • Credit cards
  • Investing apps
  • Retirement savings
  • Cryptocurrency
  • The stock market
  • Retail investing

When she’s not digging into a financial topic, you’ll find Tessa waist-deep in her second cup of coffee. She currently drinks Kitty Town coffee, which blends her love of coffee with her love for her two cats: Keekee and Dumpling. It was a targeted advertisem*nt, and it worked.

Angela Fung

Marketing Compliance Manager

Angela Fung is the Compliance Manager for Business Insider'sPersonal Financedivision, overseeing a team that ensures content accuracy and editorial independence so readers are always getting up-to-date and objective financial advice.The compliance team's mission is to maintain reader trust by confirming stories are fact-checked and current so that readers can make informed financial decisions. The team also works to minimize risk for partners by maintaining clear, precise language that is compliant with regulatory and partner marketing guidelines that align with the editorial team.

Top Offers From Our Partners

Choosing the Best Balance Transfer Credit Card for You (15)

SoFi Checking and Savings Earn up to 4.60% APY on savings balances and up to a $300 bonus with qualifying direct deposit. FDIC Insured.

There is no minimum direct deposit amount required to qualify for the 4.60% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. To earn the $300 bonus, the customer must complete a direct deposit with a minimum initial deposit of $250 in a new SoFi Checking and Savings account within 45 days of clicking to qualify (offer expires 12/31/24).

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

**Enrollment required.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip Delay Insurance, Trip Cancellation and Interruption Insurance, and Cell Phone Protection Underwritten by New Hampshire Insurance Company, an AIG Company. Global Assist Hotline Card Members are responsible for the costs charged by third-party service providers. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circ*mstance, Card Members may be responsible for the costs charged by third-party service providers. Extended Warranty, Purchase Protection, and Baggage Insurance Plan Underwritten by AMEX Assurance Company. Car Rental Loss & Damage Insurance Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

For rates and fees of the Blue Cash Everyday® Card from American Express, please click here.

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