If you're dealing with high-interest credit card debt, a balance transfer card can be a game-changer. The best balance transfer credit cards of 2024 offer 0% APR periods long enough to help you pay down your debt without racking up additional interest. Plus, these cards typically charge no annual fee, giving you more flexibility in managing your finances. Learn more about the top balance transfer credit cards for 2024 based on factors like introductory APR periods, fees, and overall value.
1. Best for Long Intro Period + Quarterly Categories: Discover it® Cash Back - 18 Month Intro Balance Transfer Offer
NerdWallet Rating: 4.9/5
Intro APR: 0% on purchases for 6 months and 0% on balance transfers for 18 months
Regular APR: 18.24%-28.24% Variable
Balance Transfer Fee: 3%
Rewards Rate: 1%-5% cashback
Annual Fee: $0
The Discover it® Cash Back card is an excellent choice if you're looking to transfer a balance and still earn cashback rewards. With its 18-month 0% APR on balance transfers and no annual fee, you get both financial relief and ongoing rewards on rotating categories like groceries, dining, and gas stations.
2. Best for Longest Intro Period: Wells Fargo Reflect® Card
NerdWallet Rating: 4.5/5
Intro APR: 0% for 21 months on purchases and balance transfers
Regular APR: 17.74%, 24.24%, or 29.49% Variable
Balance Transfer Fee: 3% for 120 days, then 5%
Rewards Rate: N/A
Annual Fee: $0
The Wells Fargo Reflect® Card offers one of the longest 0% APR periods on the market at 21 months, giving you nearly two years to pay off your transferred balance. While it doesn’t offer rewards, its extended 0% period on both purchases and balance transfers makes it perfect for tackling large balances.
3. Best for All-Around Cash Back: Chase Freedom Unlimited®
NerdWallet Rating: 5.0/5
Intro APR: 0% for 15 months on purchases and balance transfers
Regular APR: 20.49%-29.24% Variable
Balance Transfer Fee: 3%
Rewards Rate: 1.5%-5% cashback
Annual Fee: $0
Chase Freedom Unlimited® is a top pick for those who want both a balance transfer and cash-back rewards. With a 15-month 0% APR on balance transfers and up to 5% cashback on bonus categories, this card provides excellent value even after you’ve paid off your balance.
4. Best for Straightforward Benefits: BankAmericard® Credit Card
NerdWallet Rating: 4.6/5
Intro APR: 0% for 18 billing cycles on purchases and balance transfers
Regular APR: 16.24%-26.24% Variable
Balance Transfer Fee: 3%
Rewards Rate: N/A
Annual Fee: $0
The BankAmericard® Credit Card is perfect for anyone seeking simplicity and a long intro APR period. Its 18-month 0% APR period provides ample time to pay off high-interest debt without the distraction of rewards or complicated features.
5. Best for Low Intro Fee: U.S. Bank Visa® Platinum Card
NerdWallet Rating: 4.5/5
Intro APR: 0% for 18 billing cycles on purchases and balance transfers
Regular APR: 18.24%-29.24% Variable
Balance Transfer Fee: 3% (or $5 minimum)
Rewards Rate: N/A
Annual Fee: $0
The U.S. Bank Visa® Platinum Card offers a long intro APR and a lower-than-average balance transfer fee for the first 60 days. With an 18-month 0% APR period, it’s a great tool for consolidating and paying off debt without breaking the bank on fees.
6. Best for Extra-Long Intro Period + No Late Fees: Citi Simplicity® Card
NerdWallet Rating: 4.5/5
Intro APR: 0% for 21 months on balance transfers and 12 months on purchases
Regular APR: 18.74%-29.49% Variable
Balance Transfer Fee: 5%
Rewards Rate: N/A
Annual Fee: $0
The Citi Simplicity® Card is unique for its 21-month 0% APR on balance transfers and lack of late fees, making it a great choice for those seeking flexibility in paying down debt. However, the balance transfer fee is higher than some other options, so make sure the savings outweigh the cost.
7. Best for 2% Cash Back: Citi Double Cash® Card
NerdWallet Rating: 4.9/5
Intro APR: 0% for 18 months on balance transfers
Regular APR: 18.74%-28.74% Variable
Balance Transfer Fee: 3%
Rewards Rate: 2% cashback (1% when you buy, 1% when you pay off)
Annual Fee: $0
For those who want both a solid balance transfer offer and ongoing rewards, the Citi Double Cash® Card is hard to beat. With 18 months of 0% APR and 2% cashback on every purchase, this card helps you save both on interest and everyday spending.
How to Choose the Best Balance Transfer Card
When choosing the right balance transfer card, focus on these factors:
Introductory APR Period: The longer the 0% APR period, the more time you have to pay off your debt without incurring interest.
Balance Transfer Fees: Most cards charge a 3%-5% fee for balance transfers, so make sure the fee doesn’t negate the interest savings.
Ongoing APR: After the intro period, a higher APR could offset the benefits, so aim to pay off the balance before the promo ends.
Rewards: Some balance transfer cards offer rewards, but only prioritize rewards if they won’t distract you from your debt payoff plan.
Final Thoughts
Balance transfer credit cards can be a powerful tool to eliminate high-interest debt. Choose the card that offers the longest 0% intro APR period, low fees, and, if relevant to you, ongoing rewards that fit your lifestyle. By planning strategically and paying off your balance within the promotional period, you can save significant money and reduce financial stress in 2024.
https://www.nerdwallet.com/best/credit-cards/balance-transfer
