Maria Adams, Credit Cards Moderator
@m_adams
Yes, there are several good credit card balance transfer promotions. For example, the Wells Fargo Reflect® Card has an introductory period of 0% for 21 months from account opening on qualifying balance transfers on both balance transfers and purchases. The Wells Fargo Reflect regular APR ranges from 17.99% to 29.99% Variable. The balance transfer fee is: 5% (min $5).
Notable Credit Card Balance Transfer Promotions
- Rates & FeesOverall: Wells Fargo Reflect® CardWells Fargo Reflect® CardLearn MoreLearn Moreon issuer's website
- No Annual Fee: U.S. Bank Visa® Platinum CardU.S. Bank Visa® Platinum CardLearn MoreLearn More
- Long 0% intro APR: Citi® Diamond Preferred® CardCiti® Diamond Preferred® CardLearn MoreLearn Moreon issuer's website
- No Balance Transfer Fee: Union Bank® Platinum™ Credit CardUnion Bank® Platinum™ Credit CardLearn MoreLearn More
- Rates & FeesCash Back: Citi® Double Cash Card – 18 month BT offerCiti® Double Cash Card – 18 month BT offerLearn MoreLearn Moreon issuer's website
The best credit card balance transfer promotions aren’t guaranteed to last forever. If you’ve been thinking about a balance transfer and have worked out a solid repayment plan, jump on the chance for a long 0% APR with a $0 transfer fee.
Also, the best deals are reserved for those with good or excellent credit, so if you have bad or fair credit, your first goal should be to improve it. Once you get approved for a balance transfer credit card, don’t wait around to complete the transfer because the 0% APR clock usually starts ticking the day your account opens.
2023's Best Balance Transfer Credit Cards
Compare CardsPeople also ask
Do balance transfers hurt your credit?
Yes, balance transfers do hurt your credit when you open a new credit card account to do the transfer. Applying for a balance transfer credit card will generate a hard inquiry on your credit report, causing a slight dip in your credit score.
If you transfer a balance to an existing credit card account, however, there is no hard inquiry and no credit score damage. A balance transfer could still result in high credit utilization, though, and allow you...
read full answerWhat's the catch with balance transfer credit cards?
The catch with balance transfer credit cards is that a 3-4% transfer fee usually applies, and you will have to start paying interest on the remaining balance when any 0% introductory period ends. Credit card companies also limit the types of balances you can transfer, and opening a new card may hurt your credit temporarily.
In general, balance transfer credit cards are very helpful, but knowing about their potential downsides is useful so that you can pay off your...
read full answerAre credit card companies not offering balance transfers?
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....
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