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Best balance transfer and 0% APR credit cards for December 2021

Get out from under that oppressive annual percentage rate with a balance transfer credit card.

If you're struggling with credit card debt, opening another credit card might not seem like the best idea. But, when used correctly, a balance transfer card can be an effective debt-consolidation tool. A balance transfer credit card helps you transfer debt from one or more high-interest credit cards to a new card with a 0% or low annual percentage rate, or APR, for an introductory period -- usually between 12 and 21 months. This gives you some breathing room to pay off your debt while accruing little or no interest. 

Below are CNET's top recommendations for the best balance transfer cards. We update this list periodically. If you're searching for a credit card based on other specific criteria, check out our picks for the best business credit cards, the best no-annual-fee cards and more credit card advice.

Best balance transfer credit card overall

See Rates and Fees
Card Highlights
Intro BonusN/A
APR14.49% - 24.49%* (Variable)
Recommended Credit Good/Excellent
Reward RatesN/A
Annual Fee$0*
Intro Purchase APR0%* for 20 billing cycles on purchases*
Additional Details
Intro Balance Transfer APR0%* for 20 billing cycles on balance transfers*
Balance Transfer Fee Either 3% of the amount of each transfer or $5 minimum, whichever is greater
Balance Transfer APR14.49% - 24.49%* (Variable)
Foreign Transaction Fees 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars. 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency

Our Take

The U.S. Bank Visa Platinum Card offers one of the longest 0% introductory APR periods, at 20 billing cycles for purchases and balance transfers (14.49% to 24.49% variable APR thereafter), combined with a relatively low 3% balance transfer fee ($5 minimum).

Long balance transfer period

Card Highlights
Intro BonusN/A
APR14.74% - 24.74% (Variable)
Recommended Credit Excellent, Good
Reward RatesN/A
Annual Fee$0
Intro Purchase APR0% for 12 months on Purchases
Additional Details
Intro Balance Transfer APR0% for 21 months on Balance Transfers
Balance Transfer Fee Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum
Balance Transfer APR14.74% - 24.74% (Variable)
Late Payment Fee No Late Fees
Foreign Transaction Fees 3%

Our Take

The Citi Simplicity card is similar to the Citi® Diamond Preferred® Card, but the Simplicity has no late fee or penalty APR, while the standard APR for the Diamond Preferred is 1% lower (13.74% to 23.74% variable APR). If there's any chance that you could miss a payment at some point, the Simplicity could save you up to $40 and the loss of the introductory APR.

The 21-month 0% intro APR period on balance transfers and 12-month 0% intro APR period on purchases (14.74% to 24.74% variable APR thereafter) comes with a balance transfer fee of 5% ($5 minimum). The main advantage with the Citi card is the length of time you have to make a credit card balance transfer -- four months compared with U.S. Bank Visa Platinum's 60 days.

Another long balance transfer period

Card Highlights
Intro BonusN/A
APR13.74% - 23.74% (Variable)
Recommended Credit Excellent, Good
Reward RatesN/A
Annual Fee$0
Intro Purchase APR0% for 12 months on Purchases
Additional Details
Intro Balance Transfer APR0% for 21 months on Balance Transfers
Balance Transfer Fee Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Balance Transfer APR13.74% - 23.74% (Variable)
Late Payment Fee Up to $40
Foreign Transaction Fees 3%
Penalty APR Up to 29.99% (Variable)

Our Take

The Citi® Diamond Preferred® Card is available to those with good and excellent credit, and also offers one of the longest introductory 0% APR offers on balance transfers available at 21 months (13.74% to 23.74% variable APR thereafter). Plus, you can enjoy the introductory 0% APR on purchases for 12 months (13.74% to 23.74% variable APR thereafter). Keep in mind, Citi does not allow you to transfer balances from one Citi card to another, and balance transfers must be completed within four months of account opening to take advantage of this introductory offer.

Low interest rate for an extended payoff period

Card Highlights
Intro Bonus$100 in statement credit after you spend $500 on qualifying purchases, in the first 3 months after account opening
APR11.24%–21.24% (Variable)
Recommended Credit Excellent Credit
Reward Rates
  • 1% unlimited cash back on all qualifying purchases
Annual Fee$0
Intro Purchase APRN/A
Additional Details
Intro Balance Transfer APR3.25% variable intro APR for first 36 months on all balance transfers within 60 days of account opening.
Balance Transfer APR11.24%–21.24% (Variable)
Rewards & Redemption Details
  • 1% unlimited cash back on all qualifying purchases

Our Take

The SunTrust Prime Rewards Credit Card* is different from the other balance transfer credit cards profiled here. Instead of an introductory 0% APR, SunTrust offers new cardholders three years of a low intro APR -- 3.25% variable (11.24% to 21.24% variable thereafter). (The average standard APR for credit cards is usually somewhere between 12% and 25%.)

That 3.25% variable intro APR functions similarly to a flat 3.25% transfer fee -- you're just paying it over the course of the year. And it's worth noting that the effective rate should end up being lower than a flat 3.25% fee, since your balance will decrease as you pay it off, lowering the principal.

If you need more time to pay off your debt, the SunTrust Mastercard Prime Rewards may be your best bet. You can see how it compares with the U.S. Bank Visa Platinum below.

Choosing the best balance transfer credit card depends largely on how much you owe and how quickly you can pay it off. With a balance transfer card, the goal should always be to pay off the credit card balance by the end of the introductory APR period, which can have a huge impact on your ability to achieve or maintain a good credit score.

For example, if you have a $6,000 credit card balance on a high-rate card and you can afford to pay $309 each month, U.S. Bank Visa Platinum's 20-billing-cycle 0% intro APR period on balance transfers (14.49% to 24.49% variable thereafter) would do the trick. With its 3% transfer fee, you'd end up adding only $180 to your transferred balance -- compared with $1,221 with your old card, which is likely bogged down by a standard 22% APR.

If you can only afford to pay $150 each month, however, you'd need a card with a longer low-interest period. The SunTrust Prime Rewards card, for example, offers an introductory 36 months at 3.25% variable APR (11.24% to 21.24% variable APR thereafter) and no transfer fee for balance transfers made during the first 60 days. At the end of three years, it would have cost you a total of $372 in interest -- far less than a new card that offers 0% intro to start but then balloons to 20% or higher after 18 or 21 months. 

Using a balance transfer credit card correctly requires some math -- but paying close attention to the numbers can ultimately save you many hundreds or thousands of dollars. And even though some banks have recently shortened or eliminated their introductory low-APR periods for balance transfers (due to increasing economic uncertainty), there are still plenty of good options in the market. Each balance transfer offer is different though, so be sure to vet each potential card and card issuer carefully before applying for a new credit card. Even if you have pretty good credit, your existing credit card debt could throw a wrench into your plans.

And when choosing the best balance transfer credit card, there are a few things you should keep in mind:

  • Though some cards offer sign-on or introductory bonuses or cash rewards, they're mostly a distraction from the primary goal: paying down your balance.
  • Some balance transfer cards charge an annual fee -- but I don't recommend any of them.
  • You can't transfer balances between cards from the same issuer, so you can't transfer a Chase balance to another Chase card.
  • The maximum amount you can transfer depends on a variety of factors, including your credit utilization ratio, the qualifying balance transfer, your minimum payment and whether you already have good credit or even excellent credit. Each card and credit card company is different, and each factor is determined by the card issuer after assessing your specific creditworthiness.

Glossary of terms

Introductory APR: The interest rate that's applied toward your balance transfer amount and any purchases during the initial period of card ownership (usually 12 to 21 months).

Standard APR: The interest rate applied toward balances and purchases after the introductory period ends.

Introductory balance transfer fee: The fee charged on a balance transfer during the initial period of card ownership.

Standard balance transfer fee: The fee charged on a balance after the introductory period ends.

What are the best balance transfer credit cards right now?

The U.S. Bank Visa Platinum Card is our current pick for best balance transfer credit card right now, thanks to its long introductory APR period and low balance transfer fees. The Citi Simplicity card is also a good option -- it has a higher balance transfer fee, but a slightly longer introductory APR period on balance transfers.

How do balance transfer credit cards work?

Though balance transfer credit cards are technically credit cards, they're more like a debt-financing tool. They're better used to pay off existing credit card debt than as a payment method.

A balance transfer is when you take the debt, or balance, you owe on one card account and transfer it to another credit card account. Usually this is done with the goal of saving money, transferring debt from a high-interest account to one with lower or no interest. 

While many credit cards allow balance transfers, those primarily designed for the purpose all share one main feature: an introductory 0% APR period on balances transferred to that account, typically applicable to transfers made within the first 60 to 120 days of card ownership. The introductory APR period generally lasts between 12 months and 21 months, giving you a significant period of time to pay off your balance interest-free. 

While a few credit cards offer no-fee transfers, most balance transfer cards charge a fee to transfer your debt, usually between 3% and 5%. Broadly speaking, the longer the introductory 0% APR period, the higher the fee, and vice versa. So the best cards without a balance transfer fee have a shorter introductory APR period, and those with the longest introductory APR period have a 3% to 5% transfer fee.

If I still have a balance after the introductory APR period is over, can I just keep transferring my debt to a new balance transfer card?

Technically, yes. In some cases, transferring your balance two or three times might even be what's necessary to finally pay off your debt. But unless you have a firm understanding of how you got into debt in the first place and a plan for getting out of debt, you won't be working toward a solution. 

While transferring your remaining debt to a second balance transfer card may allow you to pay off your balance without monthly interest or a fee, it's important to note that there are too many variables for multiple balance transfers to be a failure-proof debt strategy. For example, your card application could be denied, your credit limit could be much lower than you anticipated or your transfer request could be denied. Credit card offers could also change, making it difficult to plan ahead. For this reason I recommend selecting a card that allows you to pay off the full balance after one cycle if possible.

What's the maximum balance I can transfer to a new credit card?

The balance transfer limit is determined by the card issuer on an individual basis. Some cards may take into account your creditworthiness and account history (if applicable) when determining this amount. 

The same goes for determining your credit limit. The card issuer will take into account factors like your credit score, credit utilization, income and housing payments when establishing your credit limit. Remember that the credit limit may be less than you expected and therefore less than your current outstanding balance. To successfully raise your limit, you usually need an adjustment in your financial situation, like increased income or lower housing payment, or an extended period of paying your bills on time, which obviously isn't a great option if you're qualifying for a balance transfer to take advantage of an introductory 0% APR period.

What is an introductory APR? And what is an introductory balance transfer fee?

The Introductory APR is the APR applied toward your balance (including balance transfers and purchases in most cases) for the first 12 to 21 months of card ownership, depending on the card. The Standard APR is the APR applied toward your balance after the introductory period ends. The Penalty APR is applied toward your balance if you miss more than one payment in six months, usually, but depends on the individual card and your card issuer.

The Introductory Balance Transfer fee is the fee charged for transfers made during the first 30 to 120 days of card ownership, depending on the card. The Standard Balance Transfer fee is the fee charged for transfers made after the introductory period. Note that some cards only allow balance transfers for a certain period of time.

How long will it take to complete a balance transfer?

It may take anywhere between 10 days and six weeks to complete a balance transfer, after receiving your new card and cardholder agreement. It's also important to note that some card issuers, such as Citi, make balance transfers available at their discretion, and could therefore decline a transfer request. And you should probably still pay the minimum on the old card's balance until you've confirmed that the transfer was completed, so you don't run the risk of fees or penalties.

What do I do if I have subpar credit?

Unfortunately, most of the cards recommended above require good to excellent credit scores, meaning above 670 or so. If your credit score is lower than that and you've been unsuccessful securing one of the cards above, there are alternative methods for refinancing your debt. You can call your current card issuer and try to negotiate a lower APR or explore a debt consolidation loan, which could allow you to gather all of your debt under a new, lower APR.

Can I use a balance transfer credit card to buy things?

While a balance transfer credit card certainly works like a normal credit card, it's generally not a good idea to use it to make new purchases. If you currently have credit card debt, your primary goal should be to get out of debt and avoid paying interest. When you purchase something and add new charges to your balance transfer account, you're moving in the wrong direction, especially if you're only able to make the minimum payment.

A debit card or cash is better for any new purchases while you pay off your debt, thus leaving your balance transfer account only for debt repayment. This will also help you track your progress more clearly. And keep in mind that some balance transfer credit cards still charge interest on new purchases until you pay off the entire balance (the new purchases plus whatever balance you transferred), which will only compound your debt problem.

How I picked the best balance transfer credit cards

To select my recommendations above, I primarily looked at two features: The length of the introductory 0% APR period, and the balance transfer fee. Those two factors determine the majority of the overall cost of paying off a balance when using a balance transfer card. 

Given that the average credit card debt for US households is about $6,200, I used a $6,000 hypothetical balance to calculate which cards make sense in certain situations, depending on how much you can pay back each month.

Our methodology

CNET reviews credit cards by exhaustively comparing them across set criteria developed for each major category, including cash-back, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles -- with the understanding that everyone's financial situation is different -- and the designated function of a card. 

For cash-back credit cards, for example, key factors include the annual fee, the "welcome bonus" and the cash-back rate (or rates, if they differ by spending category). For rewards and miles cards, we calculate and weigh the net monetary value of a card's respective perks. And with balance transfer credit cards, we analyze specs such as the duration of the introductory 0% APR period and the balance transfer fee, while acknowledging secondary factors such as the standard APR and the length of time you have to make a balance transfer after you open the account.

List of cards researched

  • Amex EveryDay® Credit Card 
  • Chase Slate 
  • Citi Simplicity® Card 
  • Citi® Double Cash Card 
  • U.S. Bank Visa® Platinum Card 
  • Discover it® Balance Transfer
  • Amex EveryDay® Preferred Credit Card
  • BankAmericard® Credit Card for Students 
  • Citi Rewards+® Card
  • Chase Freedom Flex℠
  • Chase Freedom Unlimited® 
  • BankAmericard® credit card 
  • Simmons Visa®
  • SunTrust Prime Rewards Credit Card
  • Indigo® Platinum Mastercard®
  • Milestone® Gold Mastercard®
  • Applied Bank Secured Visa® Gold Preferred® Credit Card
  • Surge Mastercard® Credit Card
  • OpenSky® Secured Visa® Credit Card 
  • Green Dot Primor Secured
  • Fit Mastercard® Credit Card
  • Reflex Mastercard® Credit Card

More personal finance advice

*All information about the SunTrust Prime Rewards, Discover it Cash Back and HSBC Gold Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.