Maria Barrios, Member
@maria_barrios
The best credit card for balance transfers and travel is the Chase Freedom Unlimited® Card. It offers 1.5 - 5% cash back on purchases as well as an introductory APR of 0% for 15 months on both balance transfers and purchases.
Chase Freedom Unlimited® has a regular APR of 18.74% - 28.24% (V) and a transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after). It also has a $0 annual fee.
Best Credit Cards for Balance Transfers and Travel
Transfer Intro APR: 0% for 15 months
Regular APR: 18.74% - 28.24% (V)
Balance Transfer Fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after)
Initial Bonus: $200 for spending $500 on purchases in the first 3 months
Ongoing Rewards: 5% cash back on travel through Chase Travel, 3% back at restaurants and drugstores, and 1.5% back on all other purchases
Annual Fee: $0
Credit Score: Good
Transfer Intro APR: 0% for 12 months
Regular APR: 16.99% - 25.99% (V)
Balance Transfer Fee: 3% (min $5)
Initial Bonus: N/A
Ongoing Rewards: 3 points per $1 spent on travel, 2 points per $1 spent on dining, 1.5 points per $1 spent on all purchases
Annual Fee: $0 intro 1st yr, $95 after
Credit Score: Excellent
Transfer Intro APR: 0% for 15 billing cycles
Regular APR: 17.74% - 27.74% (V)
Balance Transfer Fee: 5% (min $5)
Initial Bonus: 20,000 points for spending $1,000 in the first 90 days
Ongoing Rewards: 5 points per $1 on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 4 points per $1 spent on travel, 4 points per $1 at gas stations and EV charging stations (on the first $1,000 spent each quarter), 2 points per $1 at grocery stores, 2 points per $1 on dining and streaming services, and 1 point per $1 on all other purchases
Annual Fee: $0
Credit Score: Excellent
Transfer Intro APR: 0% for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR: 17.74% - 27.74% Variable
Balance Transfer Fee: 3% for 60 days from account opening, then 4%
Initial Bonus: $200 for spending $1,000 in the first 90 days
Ongoing Rewards: 6% cash back in a category of your choice during the first year, then 3% cash back, 2% back at grocery stores and wholesale clubs (up to $2,500 in combined quarterly spending across the choice category, grocery stores, and wholesale clubs), and unlimited 1% cash back on all other purchases
Annual Fee: $0
Credit Score: Excellent
Transfer Intro APR: 0% for 15 billing cycles
Regular APR: 17.99% - 28.24% (V)
Balance Transfer Fee: 3% (min $5)
Initial Bonus: $200 cash back for spending $1,000 in the first 90 days
Ongoing Rewards: 5% cash back on two categories of your choice (up to $2,000 each quarter), 5% back on prepaid air, hotel and car reservations booked in the Rewards Center, 2% on your choice of one everyday category (like gas stations, grocery stores or restaurants) and 1% on all other purchases
Annual Fee: $0
Credit Score: Good
Transfer Intro APR: 0% for 24 months
Regular APR: 17.24% - 28.24% (V)
Balance Transfer Fee: 5% (min $5)
Initial Bonus: N/A
Ongoing Rewards: 4% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Center
Annual Fee: $0
Credit Score: Good
Keep in mind that it’s generally not advisable to use one credit card for both balance transfers and travel, as cards that try to offer both typically compromise on one or both features. Balance transfer cards are designed to help you pay down debt with extended 0% APR periods, while travel cards focus on maximizing rewards and perks. By combining these functions, you risk higher interest rates on transfers and shorter balance transfer periods. So, it will probably be more effective to have separate cards tailored to each goal.
Popular Balance Transfer Credit Cards from Our Partners
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0% for 21 Months from Account Opening
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No Balance Transfer Fee
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Cash Back
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What is the best balance transfer credit card for fair credit?
The best balance transfer credit card for fair credit is the KeyPoint Credit Union Visa Classic Credit Card because it offers an introductory APR of 0% for 16 months on balance transfers. This card also has a $0 annual fee.
The KeyPoint Classic Credit Card’s regular APR is 19.99% - 21.99% (V). You also have to account for its balance transfer fee: 4%. You can get approved for the card with limited credit or better, and anyone can become the member of KeyPoint Credit Union by joining the Financial...
read full answer by Lisa Cahill, Credit Cards ModeratorDoes a balance transfer affect your credit score?
Balance transfers affect your credit score because they typically involve opening a new credit card account to receive the transfer. When you apply for a new credit card, the issuer does a hard inquiry into your credit history, which temporarily hurts your credit score. However, if you use the transfer to pay off your debt sooner, this should benefit your credit score and overall financial health in the long run.
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Doing a balance transfer is a very good idea if you need multiple months to pay off high-interest debt and you are able to qualify for a 0% balance transfer credit card. Most balance transfer cards require a 700+ credit score (at least good credit) for approval.
What you should know before making a balance transfer:
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