Best Balance Transfer Cards

Balance transfers won’t affect your credit score directly, but applying for a new card can have a positive or negative impact on your credit. A balance transfer can be a very wise choice in the long run as the cornerstone of a debt-reduction plan. If you have a plan to pay off your debt but won’t be able to do so in the time allotted by your initial transfer, a second transfer can save you a lot of money in interest. However, you don’t want to keep transferring debt from one credit card to the next without making any progress.

You can cancel a credit card without affecting your credit score; just remember to pay off all of your credit card bills first (not just the one you’re canceling). Closing a credit card has no impact on your credit score (history is a factor in your overall credit score).

The answer, like almost every other issue about credit reports and credit scores, is dependent on your specific credit history and the scoring algorithm used by your lender. Someone else’s “too many” credit cards might not be your “too many.” There is no set number of credit cards that are considered appropriate for all customers.

Credit scores between 580 and 669 are regarded as fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and higher are considered exceptional, depending on the credit scoring methodology. The number of individual credit and retail cards you can transfer across is theoretically unlimited. A credit card with an APR of 14 percent or less is considered good. That’s higher than the average credit card APR and comparable to the rates paid by credit cards for those with good credit, which often have the lowest regular APRs.

In most cases, the interest charged for using a credit card balance transfer option is lower than the interest imposed by banks on pending credit card bills. This cheaper rate of interest, however, is only valid for a limited time, after which conventional interest rates apply. A balance transfer cost typically ranges from 3% to 5% of the amount transferred, while certain cards do not impose a balance transfer fee.

Opening a new credit card can lower your credit score briefly. A “hard pull” occurs when a card issuer looks at your credit information because you’ve applied for a credit card. Whether you are accepted or not, this can result in a minor decline in your credit score. Keep unused accounts with zero balances open, according to common recommendations. The reason for this is that closing accounts reduces your available credit, giving the impression that your utilization rate, or balance-to-limit ratio, has risen suddenly.

According to credit bureaus, five or more accounts — a mix of cards and loans — is a reasonable quantity to aim for over time. Having a small number of accounts can make it difficult for scoring models to calculate a score for you.

Best Balance Transfer and 0% APR Credit Cards From Our Partners

Credit card	NerdWallet rating	Annual fee	Intro APR	Regular APR	Learn more
Citi® Diamond Preferred® Card – Limited Time Offer	4.4/5Best for Long 0% period for transfers	$0	0% Intro APR for 21 months on Balance Transfers and 12 months on Purchases	13.99%-23.99% Variable APR	APPLY NOWon Citibank’s application
Wells Fargo Reflect℠ Card	5.0/5Best for Longest 0% period for transfers and purchases	$0	0% intro APR for up to 21 months from account opening on purchases and qualifying balance transfers	13.24%-25.24% Variable APR	APPLY NOWon Wells Fargo’s websiteRates & Fees
Discover it® Balance Transfer	4.9/5Best for Long 0% period for transfers + bonus cash back	$0	0% intro APR on Purchases for 6 months and 0% intro APR on Balance Transfers for 18 months	12.24%-23.24% Variable APR	APPLY NOWon Discover’s websiteRates & Fees
BankAmericard® credit card	4.7/5Best for Long 0% period for transfers and purchases	$0	0% intro APR for 18 billing cycles on purchases, and on any balance transfers made within 60 days of account opening	13.24%-23.24% Variable APR	APPLY NOWon Bank of America’s website, or call 800-322-7707
Chase Freedom Unlimited®	5.0/5Best for 0% period for transfers and purchases + bonus cash back	$0	0% intro APR for 15 months on purchases and balance transfers	14.99%-23.74% Variable APR	APPLY NOWon Chase’s website
U.S. Bank Visa® Platinum Card	5.0/5Best for Longer 0% period for transfers and purchases	$0	0% intro APR for 20 billing cycles on purchases and balance transfers	14.74%-24.74% Variable APR	APPLY NOWon US Bank’s websiteRates & Fees
Citi Simplicity® Card	4.5/5Best for Long 0% period on transfers + no late fees	$0	0% Intro APR for 21 months on Balance Transfers and 12 months on Purchases	14.99%-24.99% Variable APR	APPLY NOWon Citibank’s application
Chase Freedom Flex℠	5.0/5Best for 0% period for transfers and purchases + bonus cash back	$0	0% intro APR for 15 months on purchases and balance transfers	14.99%-23.74% Variable APR	APPLY NOWon Chase’s website
Citi® Double Cash Card – 18 month BT offer	4.6/5Best for Long 0% period for transfers + flat-rate cash back	$0	0% intro APR on Balance Transfers for 18 months	14.24%-24.24% Variable APR	APPLY NOWon Citibank’s application
Wells Fargo Active Cash℠ Card	5.0/5Best for 0% period for transfers and purchases + flat-rate cash back	$0	0% intro APR on Purchases for 15 months and 0% intro APR on Balance Transfers 15 months from account opening on qualifying balance transfers	15.24%-25.24% Variable APR	APPLY NOWon Wells Fargo’s websiteRates & Fees
Discover it® Miles	3.8/5Best for 0% period for transfers and purchases + travel rewards	$0	0% intro APR for 15 months on purchases and balance transfers	12.24%-23.24% Variable APR	APPLY NOWon Discover’s website, or call 800-347-0264Rates & Fees
Chase Slate Edge℠	4.8/5Best for Long 0% period for transfers and purchases	$0	0% intro APR for 18 months on purchases and balance transfers	14.99%-23.74% Variable APR	APPLY NOWon Chase’s website