Best balance transfer cards with 0% APR of October 2024

Credit cards have notoriously high interest rates, so carrying a balance can be costly. However, some cards offer a path to paying off debt quicker with an introductory 0% APR period. These cards offer no interest for up to 21 months, which can more than offset any balance transfer fees.

Below, CNBC Select reviews the best balance transfer cards and we share what you need to know about using a balance transfer card (see our methodology for information on how we chose these cards).

Who’s this for: The Citi Simplicity® Card has a generous 0% APR period for balance transfers and a lower balance transfer fee than other options.

Balance transfer offer: When you transfer a balance to the Citi Simplicity card within the first four months from account opening, you’ll receive an intro 0% APR on that balance for 21 months. Then a variable 18.74% – 29.49% APR applies. An intro balance transfer fee of 3% of the amount you transfer ($5 minimum) applies to transfers you make in the first four months, after that a fee of 5% of the amount you transfer applies ($5 minimum). The intro fee is lower than the balance transfer fee for some cards with a similar 0%-APR timeframe such as the Citi® Diamond Preferred® Card.

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Who’s this for: The Wells Fargo Reflect® Card has one of the longest introductory 0% APR periods for purchases and balance transfers.

Balance transfer offer: Balance transfers you make within 120 days of account opening qualify for a 0% intro APR for 21 months, after that a variable 17.74%, 24.24%, or 29.49% APR applies. The balance transfer fee is 5% of each transfer with a $5 minimum.

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Who’s this card for: The Citi® Diamond Preferred® Card is a great option for those with good or excellent credit seeking a long introductory 0% APR period.

Balance transfer offer: You’ll get 0% intro APR for 21 months on balance transfers from the date of the first transfer (17.74% – 28.49% variable APR afterward). There is a balance transfer fee of $5 or 5% of the transfer amount, whichever is greater.

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Who’s this for: The Discover it® Chrome is an ideal Discover credit card for transferring credit card balances.

Balance transfer offer: You’ll get 18 months of a 0% intro APR on eligible balance transfers with the Discover it® Chrome. For purchases, you’ll get an intro 0% APR for six months. After the 0% intro APR offers expire, a variable 17.74% – 27.74% APR applies. The card has a 3% intro balance transfer fee of up to 5% fee on future balance transfers (see terms)*.

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Who’s this for: The Citi Double Cash® Card is one of the best cash-back cards, on top of featuring a generous balance transfer offer.

Balance transfer offer: With the Citi Double Cash Card, you can enjoy a 0% intro APR for the first 18 months on balance transfers you complete in the first four months of account opening. After the intro APR expires, a variable 18.74% – 28.74% APR applies. There’s an intro balance transfer fee of 3% of each transfer ($5 minimum) within the first four months, then the balance transfer fee increases to 5% of any amount you transfer ($5 minimum).

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Who’s this for: The Chase Slate Edge℠ offers introductory 0% APR timeframes for balance transfers and purchases.

Balance transfer offer: With the Chase Slate Edge, you’ll receive an intro 0% APR for 18 months on eligible balance transfers, then a variable 20.49% to 29.24% APR applies. An intro balance transfer fee of 3% of the amount transferred ($5 minimum) applies to transfers you make in the first 60 days. After that, the balance transfer fee is 5% of the amount transferred ($5 minimum).

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Who’s this for: The Chase Freedom Unlimited® is an excellent cash-back card to consider if you want to earn rewards while paying down your credit card debt.

Balance transfer offer: Chase Freedom Unlimited® cardmembers can transfer balances and receive an intro 0% APR for the first 15 months, then a variable 20.49% to 29.24% APR applies. An intro balance transfer fee of 3% of the amount you transfer ($5 minimum) applies for the first 60 days. After that, the balance transfer fee increases to 5% of the amount you transfer ($5 minimum).

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Who’s this for: The Wells Fargo Active Cash® Card is valuable because of its intro APR offer but even without that, it stands out as a top-notch cash-back card.

Balance transfer offer: You can transfer balances in the first 120 days from opening the account and receive a 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.74%, 24.74%, or 29.74% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.

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Who’s this for: The Discover it® Cash Back has an exceptionally rewarding intro bonus offer, which makes it a valuable option for anyone who wants to take advantage of an intro-APR deal.

Balance transfer offer: With a new Discover it Cash Back card, you’ll get a 0% intro APR on balance transfers for 15 months, after that a variable APR of 17.74% – 27.74% applies. There is a 3% intro balance fee and up to a 5% fee on future balance transfers (see terms).

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Who’s this for: The Capital One Quicksilver Cash Rewards Credit Card is a great fit if you’re looking to transfer a balance and want a solid return on everyday purchases.

Balance transfer offer: You’ll get an intro 0% APR on balance transfers for 15 months with the Capital One Quicksilver Credit Card. After the intro-APR offer ends, the standard variable APR of 19.99% to 29.99% applies. There is an intro balance transfer fee of 3% of each transfer you complete in the first 15 months from account opening. After that, there is a balance transfer fee of 4% of the amount you transfer at a promotional APR that Capital One may offer you at any other time.

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Who’s this for: The Chase Freedom Flex® offers a high return in rotating bonus categories to go along with its intro 0% APR offer.

Balance transfer offer: Chase Freedom Flex card holders can transfer balances and take advantage of an intro 0% APR for 15 months, then a variable 19.99% – 28.74% APR applies. This card’s intro balance transfer fee is 3% of the amount you transfer ($5 minimum) within the first 60 days of account opening. Afterward, the balance transfer fee is 5% of the amount you transfer ($5 minimum).

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The Wells Fargo Reflect® Card is one of the best options if you want to save money on credit card interest and not pay an annual fee.

Rewards: None

Welcome bonus: None

Annual fee: $0

Notable benefits:

When you pay your monthly cell phone bill with your Wells Fargo Reflect card, you’ll qualify for cell phone insurance. This protection will reimburse you up to $600 per claim with a $25 deductible. You are limited to two claims per 12 months.

This card’s intro 0% APR for purchases lasts for 21 months with a variable 17.74%, 24.24%, or 29.49% APR after that.

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The Citi® Diamond Preferred® Card offers a long introductory interest-free period for qualifying balance transfers and purchases, but unfortunately, doesn’t earn rewards.

Rewards: None

Welcome bonus: None

Annual fee: $0

Notable benefits:

On top of this card’s intro 0% APR for balance transfer for 21 months, this card also offers an intro 0% APR for purchases that lasts for 12 months both with a variable 17.74% – 28.49% APR after that. You have access to free access to your FICO Scores and access to special events and experiences available through Citi Entertainment.

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The Discover it® Chrome is a no-annual-fee cash-back card that can help you pay less interest on credit card debt and new purchases.

Rewards:

• 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1% cash back
• 1% cash back on all other purchases

Welcome bonus: Discover will match the cash back you earn at the end of your first year.

Annual fee: $0

Notable benefits:

On new purchases, you’ll receive a 0% intro APR for 6 months, then an 17.74% – 27.74% variable APR applies. However, for eligible balance transfers the intro-0%-APR period lasts for 18 months, after that the same 17.74% – 27.74% variable APR applies. There’s also an intro balance transfer fee of 3% and a balance transfer fee of up to 5% on future balance transfers. There are no foreign transaction fees.

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When it comes to no-annual-fee cash-back cards, the Citi Double Cash® Card is one of the most rewarding for everyday spending.

Rewards:

• 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time.
• Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25.

Welcome bonus: Earn a $200 bonus after spending $1,500 on purchases in the first six months of account opening.

Annual fee: $0

Notable benefits:

This is a cash-back card at its core, but you earn cash back as Citi ThankYou® Points, which expands your redemption options. You can transfer ThankYou points to a handful of travel partners, including Choice Hotels, Wyndham Hotels and JetBlue. However, if you pair this card with a Citi credit card that enables full transfers, like the Citi Strata Premier^℠ Card (see rates and fees), you can transfer your points to all of Citi’s travel partners at improved ratios.

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The Chase Slate Edge℠ is one of the best Chase credit cards for helping you pay less interest and get out of credit card debt faster.

Rewards: None

Welcome bonus: None

Annual fee: $0

Notable benefits:

You’ll get a 0% intro APR for 18 months on purchases, then a variable 20.49% to 29.24% APR applies. You are eligible for an automatic 2% APR reduction after spending at least $1,000 within a card anniversary year and making all your payments on time. You can also earn an automatic one-time review for a higher credit limit after spending at least $500 during your first six months of card membership and making on-time payments during the same period.

You can also enroll to receive three free months of DoorDash DashPass membership (activate by Dec. 31, 2024) and three free months of Instacart+ membership (enroll by July 31, 2024). Both services offer no delivery fees and reduced service fees on eligible orders.

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The Chase Freedom Unlimited® is a no-annual-fee card that provides a better-than-average rate of return on all purchases.

Rewards:

On up to $20,000 spent in the first year:

• 6.5% cash back on travel purchased through Chase Travel^SM
• 4.5% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service)
• 3% on all other purchases

After your first year or $20,000 spent:

• 5% back on travel purchased through Chase Travel^SM
• 5% back on Lyft rides (through March 2025)
• 3% back at drugstores
• 3% back on dining at restaurants (including takeout and eligible delivery services)
• 1.5% on all other purchases.

Welcome bonus: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cashback.

Annual fee: $0

Notable benefits:

This card offers an intro 0% APR on purchases for the first 15 months from account opening, then a variable 20.49% to 29.24% APR applies.

You get three free months of DoorDash DashPass and 50% off your membership for nine months afterward (enrollment required, activate by Dec. 31, 2024). You can also enroll to receive three free months of Instacart+ membership and get $10 in quarterly Instacart credit through July 31, 2024.

Eligible purchases also qualify for extended warranty protection, purchase protection and trip cancellation/interruption insurance.

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The Wells Fargo Active Cash® Card is also an excellent cash-back card and has no annual fee.

Rewards:

Welcome bonus: Earn a $200 cash rewards bonus after making $500 in purchases in the first three months from account opening.

Annual fee: $0

Notable benefits:

You’ll receive an 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers (after that, a 19.74%, 24.74%, or 29.74% variable APR applies). Balance transfers made within the first 120 days qualify for an intro transfer fee of 3% of the amount transferred, after that, a 5% fee of the amount you transfer applies ($5 minimum).

You can save on cell phone insurance when you pay your wireless phone bill with your Wells Fargo Active Cash card. With this coverage, you can make up to two claims per year, and each claim will reimburse you a maximum of up to $600 with a $25 deductible.

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The Discover it® Cash Back is a no annual fee card with a valuable welcome bonus, in which you effectively double the cash back you earn in the first year.

Rewards:

• Earn 5% cash back on the first $1,500 in combined purchases in rotating quarterly categories when you activate, then 1% cash back
• 1% cash back on all other purchases

Welcome bonus: Discover will match all the cash back earned for all new card members at the end of your first year.

Annual fee: $0

Notable benefits:

The Discover it Cash Back card has no foreign transaction fees, and in addition to its balance transfer offer, you’ll get an intro 0% APR for 15 months on purchases. When the intro APR expires, a variable 17.74% – 27.74% APR applies.

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The Capital One Quicksilver Cash Rewards Credit Card is a no annual fee balance transfer card with a better-than-average return on every purchase.

Rewards:

• 5% cash back on hotels and rental cars booked through Capital One Travel
• 1.5% cash back on every purchase

Welcome bonus: Earn a $200 one-time cash bonus after spending $500 within three months from account opening.

Annual fee: $0

Notable benefits:

On top of the balance transfer offer, you’ll also receive a 0% intro APR on purchases for the first 15 months. After that, a variable 19.99% to 29.99% APR applies.

Through Capital One Dining and Capital One Entertainment, you’ll get access to pre-sales and exclusive events and experiences with this card. You’re also able to book travel through the Capital One Travel site, which provides certain benefits, such as price drop protection and a price match guarantee.

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The Chase Freedom Flex® has a solid intro 0% APR offer and is a great rewards credit card on top of that.

Rewards:

• 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter (activation required).
• Earn 5% cash back on travel purchased through the Chase Travel^SM portal
• 5% back on Lyft rides through March 2025
• Earn 3% cash back on dining at restaurants, including takeout and eligible delivery services
• Earn 3% cash back at drugstores
• Earn 1% cash back on all other purchases

Welcome bonus: Earn a $100 bonus after you spend $500 on purchases in the first 3 months from account opening. Plus, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year.

Annual fee: $0

Notable benefits:

You’ll receive an introductory 0% APR for 15 months on purchases, then a variable 19.99% – 28.74% APR applies. You can also save on delivery fees with three free months of DashPass (enroll by Dec. 31, 2024) and three free months of Instacart+ (enroll by July 31, 2024). After enrollment, you can also receive up to $10 in statement credits each quarter for Instacart purchases through July 31, 2024.

This card also has insurance benefits, such as cell phone protection, purchase protection, extended warranty protection and trip cancellation/interruption coverage.

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A balance transfer credit card lets you move your credit card debt from one card to another. The best balance transfer cards offer limited-time no-interest periods for these transfers. This lets you save on higher-interest debt for a set amount of time, typically anywhere from six months to 21 months.

Completing a balance transfer is usually fairly easy. Sometimes you can even transfer a balance when you apply for the card. Regardless of when you complete a transfer, you will also normally pay a balance transfer fee of 3% to 5% of the amount you transfer. These fees are important to consider because they cut into your potential savings.

Another tradeoff to be aware of is that the cards with the longest intro-APR periods tend to not be as rewarding compared to the top rewards credit cards. So if you want a card with an exceptionally long intro-APR, you probably won’t earn as many rewards.

Using your card’s balance transfer offer is fairly straightforward. You usually can opt to transfer balances as part of your application or transfer balances once you have your card. However, there are a few things to keep in mind before taking advantage of a balance transfer offer.

Pay attention to fees

Most, but not all, balance transfer cards charge a balance transfer fee. It’s usually 3% to 5% of the amount you transfer. For example, transferring $5,000 with a 3% fee will cost you $150. This fee is charged to the balance transfer card, rather than the original card.

These fees can quickly add up and you should factor in this cost when determining if it makes sense to get a balance transfer card.

Know the restrictions

Before you apply for a credit card with a balance transfer offer, there are a few limitations that are important to understand.

The first thing to know is that you can’t make transfers between cards from the same bank. For example, if you have a Chase credit card, you can’t transfer debt to another Chase card. So you’ll need to apply for a card from a different bank than the one you want to transfer debt from.

Also, you may have limited time to complete your transfers. If you wait too long to make a transfer, you may miss the 0% APR period or the intro balance transfer fee.

You’ll also want to be aware of any limits on the amount of debt you can transfer. Card issuers typically cap the amount you can transfer to a percentage of your total credit limit or a specific dollar amount. Issuers may also factor the balance transfer fees into this limit.

See if you qualify for the card

Balance transfer cards usually require good or excellent credit. If you have less than stellar credit, it can be difficult to qualify for a balance transfer card.

Using a balance transfer credit card to consolidate and pay off credit card debt is a great strategy to save on interest charges. However, it also needs to be paired with an overall strategy for paying down your debt.

As you consider what type of balance transfer card makes the most sense for you, you’ll want to do the math to weigh the costs and benefits. Balance transfer cards can earn rewards or even offer upfront bonuses, but the cards with the best intro-APR periods, typically don’t offer rewards. However, the money you save on interest can easily offset any rewards you may miss.

Calculate how much you’ll save

The bigger the balance you want to transfer and the longer the zero-interest period, the more you save. As you look at what you’ll save, it’s not always as simple as looking at your current credit card balance and interest rate.

One caveat to consider is how much of your balance you may be able to transfer to a 0%-APR card. If you have a large amount of credit card debt, an intro-APR offer can be quite valuable. However, the benefit is limited by your balance transfer card’s credit limit and any transfer limits imposed by the card issuer.

Know all the costs

Using a balance transfer offer can save you money, but it’s not free, so you need to be sure the benefits outweigh the costs.

Most of the top balance transfer cards have no annual fee, but it’s something you want to look at before applying. Assuming the card you’re applying for doesn’t have an annual fee, you want to pay attention to the card’s balance transfer fee. These fees generally run 3% to 5% of the amount you transfer and can easily add up to hundreds of dollars when transferring a significant balance.

By taking advantage of a balance transfer you may be able to secure a lower interest rate and save money, especially if you’re taking advantage of a 0% offer. A balance transfer can also be a good way to consolidate credit card debt into a single payment. Plus, paying down your credit card can ultimately boost your credit score, especially by lowering your credit utilization rate.

As valuable as balance transfer credit card offers can be, it’s not an option for everyone. You generally need a high credit score to have the best chance of being approved for these cards. Depending on how much debt you have, you may only be able to transfer a portion of it.

If you aren’t eligible for a balance transfer card or opening a credit card isn’t the right option for you, here are two alternatives to consider:

Debt consolidation loan

A debt consolidation loan is an unsecured personal loan you take out to pay off your existing debts and roll separate payments into a single loan. Depending on your credit score, you may be able to secure a lower interest rate. You could also opt for a loan with a longer repayment term, which could reduce your monthly payment and add flexibility to your budget. However, if you take out a longer loan, you can end up paying more interest over the long haul because you’ll pay less toward the principal each month.

These types of loans can make sense if your credit score has been improving and you’re able to qualify for a better rate.

Borrow against your home equity

If you own a home worth more than you owe, you may be able to borrow against your home at a lower interest rate compared to credit cards and unsecured personal loans. There are several different financial products available to you if you’re in this situation, including home equity loans, home equity lines of credit (HELOC) and cash-out refinance mortgages. With these loans, there are significant upfront costs that can make it a losing proposition even if your rate is lower. So be sure to do the math first.

Home equity loans and HELOCs are both types of second mortgages. That means, you keep your original loan and take out an additional loan backed by your home. This option makes most sense if your current mortgage rate is lower than the rate you would qualify for if you took out a mortgage today.

With a cash-out refinance, you are replacing your existing mortgage with a brand new larger loan. If today’s mortgage rates are lower than your current rate, you’ll be able to lock in a better rate and get cash back. With a cash-out refi, you can typically borrow up to 80% of your home’s value and there are upfront closing costs that can range from 2% to 6% of the loan amount.

Compare personal loans

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best balance transfer credit cards.

To determine which cards have the best value for 0%-APR offers, CNBC Select analyzed over 250 major credit cards issued through FDIC-insured banks and NCUA-insured credit unions that are widely available in the U.S.  

We compared each card on a range of features, including rewards (e.g., cash back, points and miles), annual fees, welcome bonuses, introductory and standard APR and balance transfer fees and foreign transaction fees. We also considered additional perks (e.g., ongoing travel or merchant statement credits), cardholder protections (e.g., purchase protection, $0 liability protection and travel insurance), the application process when available (e.g., is there a credit pull or required credit score) and how easy it is to redeem points (e.g., are rewards are tied to a specific brand; if transferable, to how many/which partners, can you redeem for straight cash back). 
 
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.  

For the cards that offered a rewards program, we considered consumer spending data forecasts from location intelligence firm Esri to determine where U.S. consumers are spending the most money, like on dining and travel. We used this to help determine what bonus categories are most useful for consumers. Since the value of a point or mile varies based on what they can be redeemed for, we also considered things like transferability and the ability to redeem for cash-back. 

When choosing the best 0%-intro-APR credit cards, we focused on cards that offer longer intro-APR periods. We also placed a special emphasis on balance transfer fees and whether the cards offered intro APRs for purchases, balance transfers or both. 

For rates and fees of the Discover it® Chrome, click here.

For rates and fees of the Discover it® Cash Back, click here.

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