The 9 Best Balance Transfer Cards of 2023

Balance transfer cards with 0% introductory APRs are a great way to save money. They allow you to transfer existing debt from one credit card to another without paying any interest during the introductory period.

These cards typically waive annual fees and may offer additional benefits like rewards programs or welcome bonuses. However, the main attraction is the 0% APR. It’s important to note that when you transfer your balance to a new card, there is usually a fee involved, typically 3% to 5% of the amount being transferred. Be sure to consider this fee when calculating potential savings from a balance transfer.

At their core, these cards are a useful tool for paying down high-interest credit card balances. By minimizing interest charges, they enable you to make faster progress in reducing your debt.

Wells Fargo Reflect® Card


The Wells Fargo Reflect® Card offers a lengthy 0% intro APR for 21 months on purchases and balance transfers made within the first 120 days of account opening. Afterward, a variable APR of 17.99%, 24.49%, or 29.74% applies. This extended 0% period can help you save money on interest and pay off existing debt more effectively.

When you use the Wells Fargo Reflect® Card, you can enjoy additional benefits such as cellphone protection when you pay your bill with the card. It also provides access to roadside assistance and my Wells Fargo Deals, which offers discounts and money-saving offers.

In terms of fees, the card has a balance transfer fee of 5% with a minimum of $5. However, it doesn’t have an annual fee or offer any rewards or welcome bonus. Keep in mind that foreign transactions come with a fee of 3%.

Overall, the Wells Fargo Reflect® Card stands out for its generous 0% APR period and various perks like cellphone protection and access to discounts.

Citi Simplicity® Card

Mistakes happen, but with the Citi Simplicity® Card in your wallet, you won’t be charged late fees for occasional missed payments. However, consistent late payments can negatively impact your credit score.

While this card doesn’t offer rewards or a welcome bonus, its extended introductory APR for balance transfers is highly appealing. Additionally, as a Mastercard holder, you can enjoy complimentary ID theft protection.

For the first 21 months from the initial transfer, the APR on balance transfers is 0%, along with a 0% introductory purchase APR for the first 12 months from account opening. Afterwards, the variable APR ranges from 18.99% to 29.74%. During the first four months, there’s an introductory balance transfer fee of $5 or 3% of the transfer, whichever is greater. Afterward, a balance transfer fee of $5 or 5% of each transfer, whichever is greater, applies.

The Citi Simplicity® Card has no annual fee, no rewards, and no welcome bonus. Additionally, it has a foreign transaction fee of 3%.

Citi® Double Cash Card

The Citi® Double Cash Card offers a lengthy introductory APR period for balance transfers. This makes it an excellent choice for those wanting to pay off high-interest debt from a non-Citi card. Additionally, the card has an ongoing rewards program that provides value beyond the introductory offer’s duration.

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For the first 18 months, the card offers a 0% intro APR on balance transfers. Afterward, the standard variable APR ranges from 18.99% to 28.99%. During the first four months, there is an intro balance transfer fee of either $5 or 3%, whichever is greater. Following that, the fee becomes 5% of each transfer with a minimum of $5.

The Citi® Double Cash Card has no annual fee. It allows cardholders to earn unlimited 2% cash back on all purchases. This cash back is split into two parts: 1% when purchases are made and an additional 1% when they are paid off. Unfortunately, there is no welcome bonus offered with this card.

When it comes to foreign transactions, the Citi® Double Cash Card charges a 3% fee.

BankAmericard® credit card


The BankAmericard® credit card provides an extended introductory period for purchases and balance transfers. It stands out by not penalizing late payments with a penalty APR, unlike most other 0% offer cards. The primary attraction of this card is its introductory offer, as the benefits beyond the 0% APR are minimal.

The card offers a 0% intro APR for 21 billing cycles on purchases and balance transfers made within the first 60 days. After that, the APR becomes variable, ranging from 15.99% to 25.99%. A 3% fee applies to all balance transfers.

There is no annual fee associated with the BankAmericard® credit card. Additionally, the card does not offer any rewards or welcome bonus. However, it does impose a 3% foreign transaction fee.

Chase Slate Edge℠

The Chase Slate Edge℠ has earned its place on our list due to its highly competitive introductory APR. It also offers a unique opportunity to potentially reduce the ongoing APR by 2% for cardholders who pay their bill on time and spend at least $1,000 on the card before the next account anniversary. The APR will be reduced until it reaches the Prime Rate plus 9.74%. This transition from a 0% APR card to a lower-than-average APR card is a notable benefit.

Additionally, the card offers unexpected advantages such as secondary auto rental collision coverage, access to roadside dispatch, purchase protection, and extended warranty coverage. These features contribute to the card’s staying power and value for cardholders.

In terms of APR, the Chase Slate Edge℠ offers a 0% introductory APR for the first 18 months on both purchases and balance transfers. After the introductory period, a variable APR of 20.24% to 28.99% will apply. For balance transfers made within the first 60 days, there is an introductory transfer fee of either $5 or 3% of each transfer, whichever is greater. After that, a fee of either $5 or 5% of each transfer, whichever is greater, will apply.

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The card has no annual fee and does not offer any rewards or welcome bonuses. However, it is important to note that foreign transactions will incur a fee of 3% for each transaction made in U.S. dollars.

Bank of America® Customized Cash Rewards credit card 

The Bank of America® Customized Cash Rewards credit card is no longer just a balance transfer card; it offers more benefits. By tracking spending categories, cardholders can earn higher rewards where they spend the most. Additionally, Bank of America customers can enjoy extra rewards through the Preferred Rewards program.

The card offers a 0% introductory APR for 18 billing cycles on purchases and balance transfers. After that, the variable APR ranges from 17.99% to 27.99%. The introductory rate applies to balance transfers made within the first 60 days, subject to a 3% transfer fee.

There is no annual fee for the Bank of America® Customized Cash Rewards credit card. Cardholders can earn cash back rewards, including 3% in their chosen category, 2% at grocery stores and wholesale clubs (up to $2,500 in combined quarterly purchases), and 1% on all other purchases.

As a welcome bonus, new cardholders can earn $200 cash rewards by spending $1,000 on purchases within the first 90 days of account opening.

When using the card for foreign transactions, there is a 3% fee imposed.

Guide to balance transfer credit cards with 0% APR

A balance transfer card with a 0% APR offer is a useful tool for managing debt effectively. It allows your payments to go entirely towards reducing the principal rather than paying interest fees.

0% intro APR offers on balance transfer cards enable you to transfer high-interest balances from other credit cards. These offers typically last for six months to almost two years, providing an opportunity to save on interest payments or extend the repayment period for larger purchases.

It’s important to note that the best balance transfer offers are usually available to individuals with good to excellent credit. Unfortunately, this means that some individuals who may benefit the most from interest relief might not qualify for the longest offers.

When considering the top balance transfer credit cards with 0% introductory APRs, remember that the zero-interest period is temporary. After the introductory period, the card’s regular ongoing interest rate will apply to any remaining balances.

Furthermore, keep in mind that a balance transfer fee is typically applicable when moving balances from one card to another. It’s essential to do the math and ensure that the overall savings from the balance transfer outweigh any fees incurred.

What is a 0% APR balance transfer?

A 0% introductory APR balance transfer card is a credit card with a promotional period of no interest, usually lasting from six to 21 months. Throughout this period, users must make minimum payments and strive to pay off the entire balance before the offer ends. Once the introductory offer expires, the card will resume charging the normal ongoing interest rate on any remaining balance.

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When transferring balances to a new card, it’s important to consider the balance transfer fee. Make sure to do the math beforehand to ensure that the transfer won’t cost more than carrying the balance on your existing card while gradually paying it off. Balance transfer fees typically range from 3% to 5% of the transferred amount.

Pros and cons of a 0% balance transfer card

A 0% balance transfer card has a key benefit: saving money on interest payments. This helps pay off the principal debt faster. However, these cards usually have a balance transfer fee and the 0% APR may not apply to new purchases.

To make the most of a balance transfer card, aim to clear the balance before the introductory APR period ends. Otherwise, you might end up with a high-interest balance again. Remember, it’s a temporary solution for managing high-interest debt.

If you continue overspending on credit cards, you may find yourself in a cycle of applying for new balance transfer cards. This can harm your credit score. Balance transfer cards, like other credit cards, generally have high ongoing APRs.

What to look for in a 0% balance transfer credit card

When looking for a 0% balance transfer credit card, consider the length of the 0% APR period. Make sure it allows enough time to pay off a significant portion of your balance. Additionally, take into account the balance transfer fee. A low fee is preferable as it preserves your overall interest savings. When comparing cards, evaluate the benefits they offer beyond the introductory APR period. Look for rewards or perks that would make the card worth using. Before applying, carefully read and understand all the terms and conditions stated in the fine print.

Best alternatives to a 0% balance transfer card

When looking for a 0% balance transfer credit card, consider the length of the 0% APR period. Make sure it allows enough time to pay off a significant portion of your balance. Additionally, take into account the balance transfer fee. A low fee is preferable as it preserves your overall interest savings. When comparing cards, evaluate the benefits they offer beyond the introductory APR period. Look for rewards or perks that would make the card worth using. Before applying, carefully read and understand all the terms and conditions stated in the fine print.

Methodology

Our credit cards team dedicated countless hours to analyzing numerous credit cards. Through a meticulous examination of each product, combined with our extensive expertise in covering credit cards, we have developed these rankings. Our evaluation for the best balance transfer cards with a 0% APR took into account the following factors:

  • Duration of the promotional APR on balance transfers.
  • Presence of any annual fees.
  • Assessment of the balance transfer fees.
  • Evaluation of additional benefits beyond the introductory period, such as rewards or perks.
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