Best Balance Transfer Cards

When I look up the "best" balance transfer cards, I find a lot of misguided advice that doesn't prioritize balance transfer fees & the APR that follows intro periods. In this article, I wanted to provide information that corrects those common problems while still including some cards with balance transfer fees & high later APRs when they're viable though ruling many of the typically "best" cards out of the equation.

Factors to Consider for "Best"

When considering what is the "best" balance transfer card, I like to consider the following factors, in rough order of importance, though this order highly varies on the individual:

1. Intro Rate (Balance Transfers & New Spending)

2. Balance Transfer Fees (Intro & Ongoing)

3. Rate After Intro Period

4. Annual Fee

5. Credit Limit Range

6. Rewards (this element is often prioritized too much in lists in my opinion; optimized rewards cards are typically different cards than balance transfer cards & optimized by balance transfer cards w no balance transfer fee; also it's not uncommon to be able to convert these cards to other higher rewards variants of cards after 1 year)

7. Cash Advance Fees

The Missing Prioritization of Balance Transfer Fees in Many Balance Transfer Articles

I'm a bit shocked sometimes when I do a search on Google for some credit card information and see the heavy usage of plagiarism, high influence by advertisers, & repeated information that's actually bad advice, and when I look for balance transfer cards, that's a prime example. This article is not one of those that simply reinvent the wheel with a new spin on it. Balance transfer fees are sometimes not even mentioned in articles on balance transfer cards, and it's not uncommon at all for all the cards in a very popular list of the "best balance transfer cards" to include no cards that have no balance transfer fees.

The "Best" Personal Balance Transfer Cards w/ No Balance Transfer Fees, 0% APR for 12 months-18 months:

FTF Platinum: 12 month 0% APR, 11.99%-18% APR After Promo, No Annual Fee, & $500-$25k Limit, No SUB, No Cash Advance Fee

Easiest approvals of the 3 cards with First Tech. No signup bonus.

Transfers needed within 90 days

FTF Choice Rewards: 12 month 0% APR, 13.25%-18% APR After Promo, No Annual Fee, & $10k-$35k Limit, $200 SUB Value

Transfers needed within 90 days

"20,000 bonus points when you spend at least $3,000 in the first 60 days, a $200 value!"

FTF Odyssey Rewards: 12 month 0% APR, 11.99%-18% APR After Promo, $75/yr Annual Fee, $25k-$100k Limit, $300 SUB Value

Transfers needed within 90 days

"Get 30,000 bonus reward points when you spend at least $3,000 in your first 90 days1. That’s $300 in value!"

Honorable Mentions with FTC & Additional Information on FTF cards

FTC has additional credit cards that are quite similar.

Image courtesy FTC

Rates for purchase and balance transfers are the same, excepting the platinum secured card which presumably doesn't take balance transfers. APR for Cash advances are 1% higher on the bottom end but the same max APR. The only 1 with an annual fee is the Odyssey Rewards World Mastercard.

Image courtesy FTC

These cards have no foreign transaction fee, cash advance fee, or balance transfer fee.

In Branch 18 Month 0% APR, No Balance Transfer Fee Offer with Slate Edge

Per Doctor of Credit, "The standard online offer comes with the 18 months, but does have a balance transfer fee. This card usually has a low credit card limit so might not be very useful for people chasing 0% APR offers."

Wings Visa Platinum: 12 months 0% APR, No Balance Transfer Fees, 12.9%-18% After Promo Period

2% Cash Advance Fees, Same APR for Cash Advances

Honorable Mention: Navy Federal Platinum Card w No Balance Transfer Fee & 12 months .99% APR on Balance Transfers within 60 days, then 10.74%-18% APR

Navy Federal Platinum

12 months .99% APR for balances transferred within 60 days

No Balance Transfer Fees

No Annual Fee

10.74%-18% APR

Limited Membership

Honorable Mention: Navy Federal More Rewards Amex Card w No Balance Transfer Fee & 12 months .99% APR on Balance Transfers within 60 days, then 14.9%-18% APR, w/ $400 value SUB after spending $4k within 90 Days

I got this offer in the mail, and it stands out as a very strong offer, despite not technically being a 0% APR. The public offer as of 12/30/23 is similar, but with a $200 value after spending $2k.

The "Best" Business Balance Transfer Cards w/ No Balance Transfer Fees, 0% APR for 12 months:

Edward Jones Business Plus MasterCard®: 0% Intro APR for 1st 12 billing cycles on balance transfers, 0% Balance Transfer Fee for transfers within 60 days, 19.99%-29.99% after promo, $150 SUB

3% after 60 days for balance transfers

0 foreign transaction fees

Rewards Earning with a $150 SUB

Requires being an Edward Jones Client, the cheapest path of which might be the select account which might be $50 or less in fees for life if you just buy 1 stock with it.

Thanks Wallethub.

The "Best" Balance Transfer Cards w/ Balance Transfer Fees & Long 0% APR Promo Periods:

BankAmericard® credit card: 0% APR for 21 Billing Cycles, 3% Balance Transfer Fee, 15.99%-25.99% After Promo, No Annual Fee

"0% intro APR on Purchases for 21 billing cycles and 0% intro APR on Balance Transfers for 21 billing cycles for any balance transfers made in the first 60 days"

15.99%-25.99% Variable APR

No Annual Fee

3% Balance Transfer Fee & Cash Advance Fee

Provides FICO score

Provides Bank of America Museums On Us access for 1 if you aren't a current BoA member.

Citi Simplicity® Card: 0% APR for 21 Months on Balance Transfers, 3% Balance Transfer Fee, 18.99%-29.74% After Promo, No Annual Fee

3% promo for balance transfers for the 1st 4 months. 5% after that.

Wells Fargo Reflect Card: 0% APR for 21 months for Balance Transfers w 5% Balance Transfer Fee, No Annual Fee, 17.99%-29.99% After Promo

"Balance transfers made within 120 days from account opening qualify for the introductory rate."

The "Best" Balance Transfer Cards for Long-Term Low APRs on Balance Transfers within 1st 90 Days & No Balance Transfer Fees:

These cards all have an APR as low as 9.4% that keeps going for the life of the balance transfer. They're all with NASA Federal Credit Union, & all have no annual fee, no balance transfer fee, no foreign transaction fee, & ability to check for prequalified offer/rate with no hard credit inquiry:

VISA Classic: 12.4%-17.99% APR After Promo, Up to $30k Limit

Bare Bones for Lowest Ongoing APR among 9.4%+ initial promo APR cards.

VISA Platinum Advantage Rewards: 14.40% - 17.99% APR After Promo, up to $30k Limit, 1%? in Points on Charges

3% $ Advance Fee ($5 minimum)

Earn 1 point for every $1 you spend on purchases. Then redeem your points for travel, merchandise, gift cards, cash and more! Your points never expire. Select toView sample rewardsfor a VISA Platinum Advantage Rewards Card..

VISA Platinum Cash Rewards: 17.99% APR After Promo, up to $30k Limit, 1.5% Cashback on Charges

Unlimited cash back – Earn 1.5% cash back on every purchase you make. Select toView sample rewards.

Best Balance Transfer Cards to Return To:

These are cards where you're looking to do balance transfers on a recurring basis.

Major Caveat: If this is you, you likely need to focus less on credit cards & more on some other things.

Needing to do balance transfers on a recurring basis means you're likely in need of some savings & budgeting overhauling more so than needing a credit card. See Also:

Dave Ramsey's Baby Steps (Yes, I said it; I actually like Dave Ramsey & think he has a lot of great things to say despite some fundamental differences we have on credit cards.) Banking $ Saving Tips

Best Cards

Pertinent Cards Mentioned in other sections include:

1. Navy Federal Platinum card (0% transfer fee ongoing & 10.74%-18% ongoing APR after .99% Intro APR for balances transferred within 60 days)

2. FTF Platinum: 0% transfer fee, 12 month 0% APR, 11.99%-18% APR After Promo, No Annual Fee, & $500-$25k Limit, No SUB, No Cash Advance Fee

3. America First Visa Platinum: 0% transfer fee, 11.99%+ APR, No Annual Fee

Best Balance Transfer Card for Rewards:

Citi Double Cash: 0% APR for 18 Months on Balance Transfers, 3% Intro Balance Transfer Fee, 18.99%-28.99% APR after promo, 2% cashback which can be converted into Citi Thank You Points Effectively

" Intro fee of 3% of each transfer ($5 minimum) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 minimum).*"

"Balance Transfers do not earn cash back. Intro rate does not apply to purchases."

More Rewards Cards

See the Points Guy's rewards earning additional cards for balance transfers, but keep in mind before looking my caveat, that the rewards element is often prioritized too much in lists in my opinion; optimized rewards cards are typically different cards than balance transfer cards & optimized by balance transfer cards w no balance transfer fee; also it's not uncommon to be able to convert these cards to other higher rewards variants of cards after 1 year.

More

See Doctor of Credit's Resources

For the latest cards like the above, Doctor of Credit keeps a solid list going of 0% APR cards & has an old list from 2020 of balance transfer cards. You may be better off going there than anything on the 1st page of Google if searching for best balance transfer offers, & you won't won't find Doctor of Credit on the 1st page of Google if searching for "best balance transfer credit cards".

Other Resources I used or at least checked include:

https://www.bankrate.com/finance/credit-cards/balance-transfer/ https://www.cnn.com/cnn-underscored/money/best-balance-transfer-credit-cards https://www.creditkarma.com/credit-cards/balance-transfer https://www.forbes.com/advisor/credit-cards/best/balance-transfer/ https://www.nerdwallet.com/best/credit-cards/balance-transfer

https://thepointsguy.com/credit-cards/balance-transfer/ https://wallethub.com/credit-cards/no-balance-transfer-fee/