Best Balance Transfer Cards: A Smart Tool for Paying Off Debt Faster

Credit card debt is one of the biggest financial burdens people face today. With high interest rates—often averaging 20% or more—it can feel nearly impossible to get ahead on your balance. That’s where balance transfer credit cards come in. These cards allow you to move your existing high-interest credit card debt to a new card with a low or even 0% introductory APR for a set period of time. This gives you breathing room to pay down your debt faster without piling on more interest charges.

In this guide, we’ll break down what balance transfer cards are, how they work, the benefits and drawbacks, and the best balance transfer cards available right now.

What Is a Balance Transfer Card?

A balance transfer card is a type of credit card designed specifically to help you manage and pay off existing debt. When you transfer a balance from another card, the new card typically offers a promotional interest rate—often 0% APR—for a set period (commonly 12 to 21 months). During that time, you can pay down your debt without worrying about interest charges accumulating.

After the promotional period ends, however, the regular interest rate kicks in, which is why it’s important to have a repayment plan in place before applying.

Why Consider a Balance Transfer Card?

Here are some of the top reasons people use balance transfer cards:

Save Money on Interest
Instead of paying 20%+ interest, you could pay 0% during the promotional period.
Pay Off Debt Faster
Since your payments go toward reducing the principal balance instead of covering interest, you can become debt-free sooner.
Simplify Payments
If you have multiple credit card debts, transferring them to a single card can make payments easier to track.
Improve Credit Score
By lowering your credit utilization and paying off debt on time, you can improve your credit score.

Things to Watch Out For

Before signing up, consider these potential drawbacks:

Balance Transfer Fees: Most cards charge a fee, typically 3–5% of the amount transferred. For example, transferring $5,000 could cost $150–$250 upfront.
Limited Time Offer: The 0% APR doesn’t last forever—usually between 12 and 21 months. If you don’t pay off your balance in that time, interest will start accruing at the regular APR.
Credit Score Requirements: The best offers generally go to people with good to excellent credit (typically 670+ FICO score).
New Purchases: Some cards charge interest on new purchases immediately, so always check the fine print.

Best Balance Transfer Cards in 2025

Here are some of the top-rated balance transfer cards available today. These offers can change, but as of 2025, these cards consistently rank among the best.

1. Citi® Diamond Preferred® Card

Intro APR: 0% for 21 months on balance transfers
Regular APR: 18.24% – 28.99% variable
Balance Transfer Fee: 5% (minimum $5)
Annual Fee: $0

Why it’s great: The Citi Diamond Preferred is one of the longest 0% APR balance transfer cards on the market. With 21 months of no interest, you have nearly two years to tackle your debt.

Best for: People who need a long repayment window.

2. Wells Fargo Reflect® Card

Intro APR: 0% for up to 21 months (18 months + 3-month extension if you make minimum payments on time)
Regular APR: 18.24% – 29.99% variable
Balance Transfer Fee: 3% intro fee, then 5%
Annual Fee: $0

Why it’s great: The Reflect card rewards good payment behavior with up to 21 months of 0% APR. It also offers cell phone protection if you pay your bill with the card.

Best for: People who are disciplined with payments and want added perks.

3. Citi Simplicity® Card

Intro APR: 0% for 21 months on balance transfers and 12 months on purchases
Regular APR: 18.24% – 28.99% variable
Balance Transfer Fee: 5% (minimum $5)
Annual Fee: $0

Why it’s great: As the name suggests, this card is simple—no annual fees, no late fees, and no penalty APRs. It’s stress-free for those worried about making an occasional mistake.

Best for: People who want flexibility and no penalties.

4. BankAmericard® Credit Card

Intro APR: 0% for 21 billing cycles (nearly 21 months) on balance transfers made in the first 60 days
Regular APR: 17.99% – 27.99% variable
Balance Transfer Fee: 3%
Annual Fee: $0

Why it’s great: With a long 0% APR window and one of the lowest ongoing APRs compared to other cards, this is a strong choice for balance transfers.

Best for: People who want a low regular APR after the intro period.

5. Discover it® Balance Transfer

Intro APR: 0% for 18 months on balance transfers, 6 months on purchases
Regular APR: 17.24% – 28.24% variable
Balance Transfer Fee: 3% intro fee, then 5%
Annual Fee: $0

Why it’s great: This card offers cash back rewards on purchases—something most balance transfer cards don’t. You’ll earn 5% cash back on rotating categories and 1% on everything else.

Best for: People who want to combine debt payoff with cash back rewards.

Tips for Using Balance Transfer Cards Effectively

To maximize the benefits, follow these tips:

Do the Math
Calculate how much you’ll save after factoring in balance transfer fees. For example, if you’re transferring $10,000 at 20% interest, the savings can be significant even with a 3% fee.
Pay More Than the Minimum
Only paying the minimum will keep you in debt longer. Aim to divide your total balance by the number of months in your promotional period and pay that amount monthly.
Avoid New Debt
Using your new balance transfer card for purchases can derail your repayment plan. Stick to using it strictly for the transferred balance.
Set Payment Reminders
Missing a payment could end your 0% APR offer early. Always pay on time.
Have a Plan for After the Intro Period
Try to pay off the entire balance before the promotional window ends. If not, know what the regular APR will be and how you’ll manage it.

Who Should Get a Balance Transfer Card?

A balance transfer card is ideal for:

People carrying high-interest credit card debt
Those with good to excellent credit who can qualify for the best offers
Borrowers who are disciplined enough to stick to a repayment plan
Individuals who want to save money and simplify debt management

If you’re someone who struggles with overspending, a balance transfer card might not solve the root problem—it could even worsen it. In that case, focus on budgeting strategies or debt counseling first.

Final Thoughts

Balance transfer credit cards can be a powerful tool in your journey to becoming debt-free. By taking advantage of 0% APR promotions, you can save thousands of dollars in interest and pay off your balances faster. However, they require discipline, planning, and commitment to work effectively.

The best balance transfer cards—like the Citi Diamond Preferred, Wells Fargo Reflect, Citi Simplicity, BankAmericard, and Discover it Balance Transfer—offer long 0% APR periods, low fees, and added perks. Choose the one that fits your financial situation, create a clear repayment plan, and take control of your debt today.