It’s important to shop around, though. In general, the best balance transfer credit card is whichever will save you the most money when all is said and done. And to find it, you have to consider each card’s 0% intro period, transfer fee and regular APR when comparing offers.
You’ll also need to take into account both how much you owe and how long it will take to repay. A balance transfer calculator can help you crunch the numbers for your situation.
Fortunately, there are a number of attractive offers to consider. WalletHub’s editors identified the best credit cards for balance transfers by comparing 1,500+ offers through the eyes of the average household, which owes $7,938. You can learn more about the top options below.
|Balance Transfer Card||Intro Balance Transfer APR||Balance Transfer Fee||Annual Fee|
|U.S. Bank Visa® Platinum Card||0% for 20 billing cycles||3% (min $5)||$0*|
|BankAmericard® credit card||0% for 18 billing cycles for any balance transfers made in the first 60 days||3% (min $10)||$0|
|Citi® Double Cash Card – 18 month BT offer||0% for 18 months||3% (min $5)||$0|
|Citi® Diamond Preferred® Card||0% for 18 months||3% (min $5)||$0|
|BankAmericard® Credit Card for Students||0% for 18 months||3% (min $10)||$0|
|SunTrust Prime Rewards Credit Card||3.25% (V) for 36 months||$0||$0|
Most of the best transfer credit cards require at least good credit for approval. So if you’re not sure where you stand, you may want to check your latest credit score for free on WalletHub before you apply.
Finally, it’s worth noting that the very best balance transfer credit card you can get is none at all. So once you’ve paid off what you owe, turn your focus to budgeting and making sure you don’t get into debt again.
Methodology for Selecting the Best Balance Transfer Credit Cards
To identify the best balance transfer credit cards, WalletHub’s editors regularly compare 1,500+ credit card offers, focusing on each card’s introductory balance transfer APR, balance transfer fee, regular APR, annual fee and approval requirements. In order to take all of these factors into account, we consider the cost associated with paying off a particular credit card balance over 24 months, using WalletHub’s balance transfer calculator.
We use a $5,000 balance for people with good credit or excellent credit, a $3,000 balance for fair credit, and a $1,000 balance for limited credit or bad credit. Other factors, such as rewards, are used as a tiebreaker.
After crunching the numbers, we conclude the process by picking the best deals in the most popular categories, including for each credit level.