Bianca Smith, WalletHub Credit Cards Analyst
@bianca_stoian
Most credit card companies do offer balance transfers. In fact, many issuers offer credit cards with promotional 0% APR periods on balance transfers, during which new cardholders don’t pay any interest on transferred balances.
Some credit card issuers rolled back promotional balance transfer APRs in the wake of the economic disturbance caused by the pandemic in 2020. For example, the length of the average 0% balance transfer offer fell to 12.2 months in 2020. However, no-interest balance transfer offers have been steadily returning, with an average 0% intro period of about 13 months on transferred debt in 2021.
Balance Transfer Offers by Credit Card Company
| Company | Popular Balance Transfer Credit Card | Intro APR | Transfer Fee |
| 0% for 15 months | 3% (min $5) | ||
| 0% for 21 billing cycles for any balance transfers made in the first 60 days | 3% | ||
| 0% for 15 months | 5% (min $5) | ||
| 0% for 15 months | 3% | ||
| 0% for 15 months | Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after) | ||
| 0% for 21 months | 5% (min $5) | ||
| 0% until February 2025 | 3% | ||
| 0% for 18 billing cycles | 3% (min $5) | ||
| 0% for 21 months from account opening on qualifying balance transfers | 5% (min $5) |
Credit card balance transfer offers are constantly changing based on the health of the economy and the financial interests of card issuers. You can check out the best balance transfer credit cards currently on the market on WalletHub.
2023's Best Balance Transfer Credit Cards
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The “creditor to pay” for a balance transfer is the name of the lender or credit card company that owns the debt before the balance transfer. The reason it’s called the creditor “to pay” is that a balance transfer is essentially a payment made to that creditor by the credit card company taking on the debt. The payment is how the balance is transferred.
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You can do a balance transfer with the Chase Sapphire Preferred card either online or over the phone at (800) 945-2000. To transfer a balance online, you need to enter the amount you want to transfer, verify the information, and submit the request. Just keep in mind that balance transfers are expensive with this card as there are no intro balance transfer APRs available.
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read full answerWhat happens when 0% APR ends?
When a 0% APR period ends, the credit card’s regular APR will kick in. That rate will apply to any unpaid balance remaining on the credit card as well as any new purchases made from that point on. The regular APR that applies when a 0% APR period expires tends to be very high, so it’s best not to leave much of a balance for it to affect.
The only exception to this rule...
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