Best Balance Transfer Credit Cards for Bad Credit

Applicants need a credit score of 700 or higher to have a good chance at being approved for a good balance transfer credit card. Most 0% balance transfer credit cards require at least “good credit” for approval. There are exceptions, though. If you’re a student, there is no minimum credit score needed for a balance transfer credit card. Some student credit cards offer great balance transfer deals and don’t require applicants to have any prior credit history. Other than that, however, the selection will be limited.

Credit card companies generally don’t want to take on a customer’s debt until they have proved themselves reliable to repay amounts owed. Good credit seems to be the proven threshold for major credit card companies. You’ll find cards with 0% balance transfer APR periods from all of the 10 biggest credit card companies right now. For example, the Chase Slate card requires “good” credit or better for approval and offers 0% for 15 months on balance transfers, with a $0 balance transfer fee. That makes the balance transfer free for 15 months, since there’s no annual fee either.

It’s much harder to get approved for a balance transfer card with below-average credit. People with limited or no credit history could be in luck, however, if they happen to be in school. Some student credit cards offer 0% APR periods on balance transfers, such as the Wells Fargo Cash Back College card (0% for 6 months) and the BankAmericard student card (0% for 21 billing cycles for any balance transfers made in the first 60 days).

People with “fair” credit—640 to 699—who meet certain criteria, such as being in the military, could potentially qualify for a balance transfer deal as well. USAA offers several credit cards with 0% APR balance transfers to people with fair credit. But the cards are only open to applicants who are USAA members, meaning people who’ve been in the military or who have eligible military family members. For example, the Wounded Warriors USAA Rewards card only requires fair credit and USAA membership, and offers 0% for 12 months on balance transfers.

Aside from that, some credit unions also offer balance transfer credit cards for fair credit. Credit unions are membership-based nonprofit organizations, and usually have specific requirements for becoming a member. If you qualify for TDECU membership, the TDECU Classic Mastercard offers 0% for 12 months on balance transfers with a $0 balance transfer fee, which is a good deal. So, consider looking for credit unions in your area that offer balance transfer cards if you have below-average credit.

People with bad credit scores, or scores under 640, won’t have much luck finding a balance transfer credit card that will be of much help. Unsecured cards for bad credit do exist, but you’ll usually pay a steep price in fees for even having these cards, and they typically don’t allow balance transfers. If you have bad credit, you should start rebuilding your credit with a secured credit card. Use the card responsibly and steadily make on-time payments, and over time, you’ll have a score that will qualify you for a better credit card.

Yes, a balance transfer request can be denied. A credit card balance transfer can be denied if you have a poor credit history, your transfer request exceeds your credit limit, or you request to transfer a balance to another card from the same issuer, among other reasons.

You can call your credit card issuer’s customer service department to find out exactly why your balance transfer request was denied. You can also learn more about...

The best way to get a $500 credit card limit with bad credit is to open a secured credit card account and put down a $500 security deposit. A secured card’s credit limit is generally equal to the amount of the deposit. Most secured cards require a refundable deposit of at least $200-$300. A bad credit score will make it difficult to get a $500 credit card limit without placing a $500 deposit.

Ways to get...

No, Credit One doesn’t do balance transfers at this time. None of its credit cards allow this type of transaction. In general, balance transfers allow you to shift high-interest debt from your current account to another issuer’s credit card. Then, you can pay off the balance, presumably at a reduced interest rate.

Although Credit One does not offer balance transfer credit cards, there are plenty of options from other issuers to choose from.

Notable Balance Transfer Credit...

No, First Premier balance transfers are not allowed. The First Premier Bank Mastercard is this bank’s only credit card offering, and it’s for people with bad credit. Like most unsecured credit cards for bad credit, the First Premier credit card doesn’t allow balance transfers, its limits are low, and its fees are high.

The most expensive First Premier Bank Mastercard annual fee comes in the first year: $75-$125, depending on your credit limit. Every...

You can pay off credit card debt with bad credit in a few ways. But probably your best option is to enter a debt management program. In this way, a debt management company will work with your lender on your behalf to reduce your monthly payments and your debt's interest rate.

You could also ask a family member or friend to loan you money.

As a last resort you could take out a...

You can get the most balance transfer offers by improving your credit score, paying your bills on time, and making sure you haven’t opted out of pre-approved offers. The best balance transfer credit cards are generally reserved for applicants with good-to-excellent credit and a history of making on-time payments.

You can check your latest credit score for free on WalletHub and get personalized credit-improvement tips. Also, you can opt back in for pre-approved cards, if necessary, to start getting more offers sent to you by mail or...