Best Balance Transfer Credit Cards of 2021
Credit card debt isn’t exactly someone’s definition of a fun time–getting out of it can be plain exhausting. Considering credit card interest is high (especially if you miss a payment), it could feel like you’re barely making a dent in your debt.
The good news is that if your credit is still decent, there is a way to make payments on your credit card interest-free through a balance transfer credit card offering a 0% APR.
Low and zero percent APR balance transfer offers are commonly provided by credit card issuers to attract new customers. Credit card issuers rightfully assume that if they can attract you to their product by offering to house your debt for no interest, you’re likely to generate new debt after you’ve paid off the old debt.
The trick in taking advantage of a balance transfer offer is to pay off the entire debt during the 0% introductory APR offer, then pledging never again to get deep into credit card debt.
Some of the best credit cards offers now have balance transfer fees–you could save thousands of dollars in interest charges by taking advantage of low or zero percent APR balance transfer offers.
Below you will find the best credit cards available for balance transfers.
Best Balance Transfer Credit Cards of 2021
Capital One® Quicksilver® Cash Rewards Credit Card
The Capital One® Quicksilver® Cash Rewards Credit Card offers an introductory 0% balance transfer offer for 15 months. There is a balance transfer fee of 3%. When the intro APR expires, the standard APR becomes 15.49% – 25.49% variable.
The card also offers excellent cash back rewards–1.5% on every purchase plus a $150 cash bonus when you spend $500 in purchases in the first 3 months.
There are no fees and no foreign transaction fees.
The Amex Everyday® Credit Card from American Express
The Amex Everyday® Credit Card from American Express packs quite a punch.
Cardholders receive a 0% intro APR on both purchases and balance transfers for 15 months. There is no balance transfer fee if the transfer is made within the first 60 days of account ownership. It’ll switch to a 12.99% to 23.99% variable APR afterward.
This card also offers 10,000 bonus points after spending $1,000 in the first three months.
You’ll also receive 2x points at U.S. supermarkets (up to $6,000 each year) and 1x point on all other purchases.
Every month you use your card a minimum of 20 times, you’ll receive a 20% bump in rewards points on those purchases.
The Amex Everyday® Credit Card from American Express has no annual fee.
Wells Fargo Platinum Visa® Credit Card
The Wells Fargo Platinum Visa® Card offers a 0% intro APR on both purchases and balance transfers for 18 months–it’ll then switch to 15.49% – 24.99% variable APR.
Although you won’t get rewards like the cards on this list, you get other perks like up to $600 protection on your cell phone if it’s damaged or stolen. It is subject to a $25 deductible and you’ll need to pay your monthly phone bill using your Wells Fargo Platinum Visa® Credit Card.
Wells Fargo Platinum Visa® Card also includes free access to your FICO credit score.
There is no annual fee for the card.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express opens up with a 0% intro APR on purchases and balance transfers for 12 months. When the intro rate expires, the standard APR becomes 12.99% – 23.99% variable.
Where this card really kicks butt is with its welcome bonus and ongoing rewards program. You can earn a $200 statement credit after spending $1,000 in purchases within the first three months.
In addition, the earnings categories appear to be geared towards everyday purchases:
- 6% cash back at U.S. supermarkets on up to $6,000 spent annually
- 6% cash back on select U.S. streaming services (like Netflix, Hulu, and others)
- 3% cash back on ground transportation
- 3% cash back at U.S. gas stations
- 1% cash back on all other purchases
Yup, you could be saving hundreds of dollars every year just at the grocery store alone–up to $360 which far outweighs the $95 annual fee.
Wells Fargo Cash Wise Visa® Credit Card
The Wells Fargo Cash Wise Visa® Credit Card combines a 0% balance transfer with excellent cash back rewards. You get a 0% APR on purchases and balance transfers for 15 months with a 3% balance transfer fee or $5, whichever is greater.
In addition to one of the longest balance transfer offers on our list, you get 1.5% cash back on all purchases and 1.8% cash back on Google Pay™ or Apple Pay™ digital wallet net purchases during the first 12 months from account opening. Plus, there’s a $150 cash bonus once you spend $500 in purchases within the first three months.
All that, and no annual fee.
Chase Freedom Unlimited®
The Chase Freedom Unlimited kicks off with a 0% intro APR on purchases balance transfers for 15 months. If you want to take advantage of the low 3% balance transfer offer, you must make the transfer within the first 60 days. If you make a transfer outside of that window, there will be a $5 or 5% balance transfer fee (whichever is greater).
Cardholders will also earn unlimited 1.5% cash back on all purchases, partner benefits (aka deep discounts on goods and services and access to the Chase Ultimate Rewards portal, where you can use cash back rewards towards, cash, statement credits, travel rewards and more).
Balance transfer cards can be effective tools for lowering the amount you’ll pay in interest and freeing up cash flow, making better use of your cash than spending your own money for a large purchase.
Some balance transfers cards also nab you some lucrative rewards, so even if you have the cash to pay off your big purchase right away, consider finding a card that also offers a huge signup bonus. Why not save money on interest and score free flights or cash back rewards?
A word of warning: credit cards with 0% APR offers are a short-term solution. To improve your financial situation, you’ll want to make sure you’re reading the fine print on any credit card you open–there are certain terms and conditions for keeping the 0% offer.
Then, make a plan to ensure you don’t fall into debt again–think about making a budget or saving up cash for large purchases.
If you still haven’t found what you are looking for, check out this list of balance transfer credit cards.
Important Note! The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we can not guarantee the accuracy of the information in this article. Please verify all terms and conditions of any credit or charge card prior to applying.