Balance Transfer Credit Cards
Transfer credit card balances onto one card and simplify your debt today.
What can balance transfer credit cards do for you? Save big bucks on interest. A new credit card, balance transfer, and lower payments can all be yours with any of these recommended credit cards. Simplify your life by consolidating all your credit card debt onto one card. Some of these balance transfer credit cards even offer rewards programs, offering cash back, miles and/or points for all purchases charged to the credit card. Better yet: many 0% interest credit cards have an introductory period on all funds transferred!
When considering a credit card for balance transfers, make sure to note the length of the intro period you’re signing up for. And furthermore, how long you have after becoming a cardholder to transfer your debt at the lowest possible rate.
Best 0% Balance Transfer Offer for May, 2013: Citi Simplicity - 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be12.99% - 21.99% based on your creditworthiness.
Intro periods on balance transfer credit cards last anywhere from 3 to 18 months depending on the credit card. Why are they so important? Well, the intro period is the period in which you'll enjoy 0% APR, making it the time in which you’ll be paying your credit card debt back directly without interest. This is the most important time to chip away at your credit debt, which is why we recommend taking full advantage of your credit card’s intro period.
We've ranked the five best balance transfer credit card offers below - apply today and get the ball rolling on paying down your debt to zero, interest-free!
Find the best credit card for you.
Barclaycard® Rewards MasterCard® - Excellent Credit
| Year One | Year Two | Year Three | Total | |
Interest Savings on Balance Transfers  |
$900.00 | $225.45 | $225.45 | $1,350.90 |
| * For Interest Savings on Balance Transfers calculations, we use the amount you input in your "My Credit Card Profile". For calculation purposes, please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Interest Savings on Balance for New Purchases |
$1,200.00 | $300.60 | $300.60 | $1,801.20 |
| * For Interest Savings on Balance Carried on New Purchases calculations, we use the amount you input in your "My Credit Card Profile". Please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Reward Points |
$48.60 | $48.60 | $48.60 | $145.80 |
| This card offers 2 points per dollar (estimated at $.02) spent on gas, grocery, and utility purchases. Creditnet assumes 35% of total purchases made with this card are on these premium purchases, with the remaining 65% of purchases receiving the standard 1 point per dollar (estimated at $.01). | ||||
| One Time Bonus |
$50.00 | $0.00 | $0.00 | $50.00 |
| Cardholders earn 5,000 points after their first purchase - the equivalent to a $50 statement credit according to Barclaycard. | ||||
| Balance Transfer Cost |
-$180.00 | -$0.00 | -$0.00 | -$180.00 |
| * For Balance Transfer Cost calculations, we take the specific balance transfer fee associated with a card to determine the cost. Once this balance transfer cost is calculated, we deduct this value from the total savings amount. Please note that we only factor in this cost if a user intends to transfer a balance, as determined by selecting "Yes" under "I want to carry a balance" in your "My Credit Card Profile". | ||||
| Annual Fee |
-$0.00 | -$0.00 | -$0.00 | -$0.00 |
| * Annual fee costs are only deducted from your total savings when a card includes an annual fee. Credit cards that waive the annual fee for the first year have also been accounted for in our calculations. | ||||
| Totals | $2,018.60 | $574.65 | $574.65 | $3,167.90 |
NFL Extra Points Credit Card
| Year One | Year Two | Year Three | Total | |
| Interest Savings on Balance Transfers |
$900.00 | $281.70 | $281.70 | $1,463.40 |
| * For Interest Savings on Balance Transfers calculations, we use the amount you input in your "My Credit Card Profile". For calculation purposes, please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Interest Savings on Balance for New Purchases |
$1,200.00 | $375.60 | $375.60 | $1,951.20 |
| * For Interest Savings on Balance Carried on New Purchases calculations, we use the amount you input in your "My Credit Card Profile". Please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Reward Points |
$48.60 | $48.60 | $48.60 | $145.80 |
| This card offers 2 points per dollar spent (estimated at $.02) on NFL and team purchases. Creditnet assumes 35% of your monthly purchases are made on these premium purchases, with the remaining 65% of your purchases applied to the standard 1 point per dollar (estimated at $.01). | ||||
| One Time Bonus |
$100.00 | $0.00 | $0.00 | $100.00 |
| Cardholders earn a one-time bonus of 10,000 bonus points after their first purchase made with this card, which according to Barclaycard is equal to a $100 cash back statement credit. | ||||
| Balance Transfer Cost |
-$180.00 | -$0.00 | -$0.00 | -$180.00 |
| * For Balance Transfer Cost calculations, we take the specific balance transfer fee associated with a card to determine the cost. Once this balance transfer cost is calculated, we deduct this value from the total savings amount. Please note that we only factor in this cost if a user intends to transfer a balance, as determined by selecting "Yes" under "I want to carry a balance" in your "My Credit Card Profile". | ||||
| Annual Fee |
-$0.00 | -$0.00 | -$0.00 | -$0.00 |
| * Annual fee costs are only deducted from your total savings when a card includes an annual fee. Credit cards that waive the annual fee for the first year have also been accounted for in our calculations. | ||||
| Totals | $2,068.60 | $705.90 | $705.90 | $3,480.40 |
U.S. Bank Visa® Platinum Card
| Year One | Year Two | Year Three | Total | |
| Interest Savings on Balance Transfers |
$900.00 | $562.84 | $450.45 | $1,913.29 |
| * For Interest Savings on Balance Transfers calculations, we use the amount you input in your "My Credit Card Profile". For calculation purposes, please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Interest Savings on Balance for New Purchases |
$1,200.00 | $750.45 | $600.60 | $2,551.05 |
| * For Interest Savings on Balance Carried on New Purchases calculations, we use the amount you input in your "My Credit Card Profile". Please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Balance Transfer Cost |
-$135.00 | -$0.00 | -$0.00 | -$135.00 |
| * For Balance Transfer Cost calculations, we take the specific balance transfer fee associated with a card to determine the cost. Once this balance transfer cost is calculated, we deduct this value from the total savings amount. Please note that we only factor in this cost if a user intends to transfer a balance, as determined by selecting "Yes" under "I want to carry a balance" in your "My Credit Card Profile". | ||||
| Annual Fee |
-$0.00 | -$0.00 | -$0.00 | -$0.00 |
| * Annual fee costs are only deducted from your total savings when a card includes an annual fee. Credit cards that waive the annual fee for the first year have also been accounted for in our calculations. | ||||
| Totals | $1,965.00 | $1,313.29 | $1,051.05 | $4,329.34 |
Read the terms and conditions of a credit card if you want to take advantage of the promotional 0% introductory rate on balance transfers. Sometimes these transfers need to be initiated on your card application, within a certain number of days (i.e. 30 days), or by the end of the 0% promotional period (i.e. 12 months).
Citi® Platinum Select®/AAdvantage® Visa Signature® Card
N/A
N/A
| Year One | Year Two | Year Three | Total | |
| Interest Savings on Balance Transfers |
$0.00 | $0.00 | $0.00 | $0.00 |
| * For Interest Savings on Balance Transfers calculations, we use the amount you input in your "My Credit Card Profile". For calculation purposes, please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Interest Savings on Balance for New Purchases |
$285.60 | $285.60 | $285.60 | $856.80 |
| * For Interest Savings on Balance Carried on New Purchases calculations, we use the amount you input in your "My Credit Card Profile". Please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Reward Points |
$48.60 | $48.60 | $48.60 | $145.80 |
| This card offers 2 miles per $1 spent (estimated at $.02) on American Airlines flight purchases. Creditnet assumes 35% of total purchases made with this card are on these premium purchases, with the remaining 65% receiving the standard one mile per $1 (estimated at $.01) | ||||
| Anniversary Bonus |
$0.00 | $0.00 | $0.00 | $0.00 |
| Cardholders that spend $30,000 or more with this card each year earn a $100 airfare discount. Click the "Apply" button for full qualifying details. | ||||
| One Time Bonus |
$0.00 | $0.00 | $0.00 | $0.00 |
| Cardholders that make $1,000 or more in purchases within the first three months will earn the advertised bonus miles. Creditnet estimates that one bonus mile is earned for every $1 spent with this card, making the estimated value of this one time bonus worth $300. This one-time bonus will only display in your savings calculations if the monthly purchases entered into your "My Credit Card Profile" meet this qualification. | ||||
| Free bags |
$200.00 | $200.00 | $200.00 | $600.00 |
| Creditnet assumes cardholders make four roundtrip flights per year using this card. Cardholders that make their American Airlines reservation with this card are eligible to check their first bag free each way. One free checked bag on American Airlines flights is worth $25, with up to $50 in savings each trip for an assumed total of $200 each year. | ||||
| Balance Transfer Cost |
-$0.00 | -$0.00 | -$0.00 | -$0.00 |
| * For Balance Transfer Cost calculations, we take the specific balance transfer fee associated with a card to determine the cost. Once this balance transfer cost is calculated, we deduct this value from the total savings amount. Please note that we only factor in this cost if a user intends to transfer a balance, as determined by selecting "Yes" under "I want to carry a balance" in your "My Credit Card Profile". | ||||
| Annual Fee |
-$0.00 | -$95.00 | -$95.00 | -$190.00 |
| * Annual fee costs are only deducted from your total savings when a card includes an annual fee. Credit cards that waive the annual fee for the first year have also been accounted for in our calculations. | ||||
| Totals | $534.20 | $439.20 | $439.20 | $1,412.60 |
Citi ThankYou® Preferred Rewards Card - 15,000 points - $150 gift cards
| Year One | Year Two | Year Three | Total | |
| Interest Savings on Balance Transfers |
$900.00 | $315.45 | $315.45 | $1,530.90 |
| * For Interest Savings on Balance Transfers calculations, we use the amount you input in your "My Credit Card Profile". For calculation purposes, please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Interest Savings on Balance for New Purchases |
$1,200.00 | $420.60 | $420.60 | $2,041.20 |
| * For Interest Savings on Balance Carried on New Purchases calculations, we use the amount you input in your "My Credit Card Profile". Please note that as of February 2010, the CARD Act requires credit card companies to use customer credit card payments to pay off the highest APR portion of their balance first, which is more favorable for the customer. | ||||
| Reward Points |
$23.40 | $23.40 | $23.40 | $70.20 |
| This card offers 1 ThankYou point (estimated at $.01) for every dollar spent. This conversion has been applied to your rewards points savings. | ||||
| One Time Bonus |
$0.00 | $0.00 | $0.00 | $0.00 |
| Cardholders that make $1,000 in purchases within 3 months of account opening earn 15,000 bonus miles, which can be redeemed for a $150 gift card. This one-time bonus will only display in your savings calculations if the monthly purchases entered into your "My Credit Card Profile" meet this qualification. | ||||
| Balance Transfer Cost |
-$135.00 | -$0.00 | -$0.00 | -$135.00 |
| * For Balance Transfer Cost calculations, we take the specific balance transfer fee associated with a card to determine the cost. Once this balance transfer cost is calculated, we deduct this value from the total savings amount. Please note that we only factor in this cost if a user intends to transfer a balance, as determined by selecting "Yes" under "I want to carry a balance" in your "My Credit Card Profile". | ||||
| Annual Fee |
-$0.00 | -$0.00 | -$0.00 | -$0.00 |
| * Annual fee costs are only deducted from your total savings when a card includes an annual fee. Credit cards that waive the annual fee for the first year have also been accounted for in our calculations. | ||||
| Totals | $1,988.40 | $759.45 | $759.45 | $3,507.30 |
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Balance Transfer Credit Cards - Why They're Helpful
What is a balance transfer credit card? The short answer: A credit card that allows you to transfer your credit card debt to a new credit card, ideally one with a small transfer fee and an extended 0% interest intro period.
OK, so what does that mean for you? Once you apply online and are approved for one of our recommended balance transfer cards above, you’ll begin paying back your debt directly without interest. As long as you make monthly payments on time, you’ll remain enrolled in the intro program for the full period, giving you the maximum amount of time to pay back your credit card debt interest free.
Here are some things to know about balance transfer credit cards on the market today...
- Balance Transfer Fees
Generally, balance transfer fees are small. Consider it a “payment” for eliminating interest for a specific amount of time. Our recommended balance transfer fee card - the Citi Simplicity® Card - includes a 3% transfer fee. So, you’ll be obligated to pay 3% of whatever balance you’re transferring over. When you consider that post-intro period interest rates range anywhere from 11.99% to 24.99% or more, that 3% fee all of a sudden looks like a small price to pay for a balance transfer. (Just remember that you MUST initiate the transfer within four months of opening your account to take advantage of this offer.)
- Intro Periods on Balance Transfer Credit Cards
We recommend applying for balance transfer credit cards with the longest intro period available, especially if your debt is larger and might take longer to pay off. Credit card intro periods that last 15 - 18 months are most recommended by Credinet.com because they limit the urgency of paying back your debt. The longer you’re able to take advantage of 0% interest rates, the fewer sacrifices you’ll need to make when it comes to making monthly payments. (And thus the more likely you are to be able to make on-time payments, even at the minimum.)
Check out a full list of 0% interest credit cards on Creditnet.com to easily compare balance transfer fees and intro periods.
