Credit Cards
By
Christina Ly
Christina Ly
Credit cards writer
Christina Ly is a writer at TPG. She has covered credit cards and personal finance topics since joining the team in 2022.
•
Edited by
Matt Moffitt
Matt Moffitt
Managing editor
Matt Moffitt is TPG's managing editor for credit card content and an expert in getting the most out of credit cards and points. He has at least 25 cards in his wallet at any given time. Originally from Sydney, he won the green card lottery and has been based in Austin since 2015.
•
Reviewed by
Paige Balcom
Paige Balcom
Compliance associate
Compliance associate Paige Balcom joined TPG in 2022 and has spent her time working in the credit card industry reviewing content across sites such as CNET, CreditCards.com and Bankrate. She has used her knowledge to train new writers and other compliance members on the intricacies of compliance across multiple brands and partners.
April 01, 2024
The cards we feature here are from partners who compensate us when you approve through our site, and this may impact how or where these products appear. We don’t cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Please view our
advertising policy
and
product review methodology
for more information.
If you’re looking to pay down your credit card debt, our top picks for the best balance transfer credit cards may be able to help.
Carrying high credit card balances, especially with exorbitant interest rates, can be crippling. This is where a good balance transfer card might help you save some money. By opening a new card, you could snag a decent promo that offers a lower (or possibly 0%) APR for a set period of time when you move an existing balance to the new card. Then, once you’ve paid your credit card debt off, avoid carrying a monthly balance if possible — this way, you don’t have to worry about paying anything in interest at all.
Check out our guide for the best balance transfer credit cards from our partners that also include perks like the ability to earn cash back.
At The Points Guy, our goal is to help you maximize your travel experiences while minimizing spending. Our travel and credit cards experts share their own experiences and give honest analyses to help you make decisions that benefit you the most. While we do receive compensation through our credit card application links, ads, and clearly indicated sponsored content, our editorial content, points valuations and card analysis are entirely our own.
Citi Double Cash® Card: Best for simple cash back rewards
Blue Cash Preferred® Card from American Express: Best for gas and U.S. supermarkets
Wells Fargo Reflect® Card: Best for financing credit card debt
Bank of America® Customized Cash Rewards credit card: Best for Preferred Rewards® members
Citi® Diamond Preferred® Card: Best for balance transfers
Blue Cash Everyday® Card from American Express: Best for beginner cash back
Citi Rewards+® Card: Best for earning Citi ThankYou® points
Browse by card categories
Best
Travel
Airline
Hotel
No Annual Fee
Business
0% APR
Best for simple cash back rewards
Citi Double Cash® Card
Open Editors rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4
/ 5
Go to review
Apply for Citi Double Cash® CardApply nowfor Citi Double Cash® Card
at
Citi
's secure site
Terms & restrictions apply.
| 1% | Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. |
| 5% | Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. |
Open Intro bonus Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
$200 cash back
$0
19.24% - 29.24% (Variable)
Open Credit score description
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.
580-850Excellent, Good, Fair
The Citi Double Cash Card caters to beginners establishing good credit habits, since users will earn 2% cash back; 1% when they buy and 1% when they pay their statement. The Citi Double Cash is a great pick for those looking for the utmost simplicity and want cash back in their pocket. Read our full review of the Citi Double Cash.
Pros
- Earning 2% back on every purchase is an industry-leading return on everyday spending for a no-annual-fee credit card.
- Now that you have the ability to convert rewards to ThankYou points with an eligible card, your redemption options are even more flexible.
- It’s great for those looking to consolidate debt, since it offers new cardmembers 18 months of 0% intro APR on balance transfers made. After that, the variable APR of 19.24% - 29.24% applies.
Cons
- Those looking to make a balance transfer will have to pay 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
BEST FOR GROCERIES AT U.S. SUPERMARKETS
Best for gas and U.S. supermarkets
Blue Cash Preferred® Card from American Express
Open Editors rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4
/ 5
Go to review
Apply for Blue Cash Preferred® Card from American ExpressApply nowfor Blue Cash Preferred® Card from American Express
at
American Express
's secure site
Terms & restrictions apply.
| 6% | 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%) |
| 6% | 6% Cash Back on select U.S. streaming subscriptions |
| 3% | 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more |
| 3% | 3% Cash Back at U.S. gas stations |
| 1% | 1% Cash Back on other purchases |
Open Intro bonus Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
Earn $250
$0 intro annual fee for the first year, then $95.
19.24% - 29.99% Variable
Open Credit score description
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.
670-850Excellent, Good
The Blue Cash Preferred Card is one of the best cash-back credit cards on the market. You’ll get a great return across a wide range of bonus categories, a solid welcome bonus and a low annual fee. Read our full review of the Blue Cash Preferred Card from American Express.
Pros
- This card has one of the best earning structures out for among cash-back credit cards.
- The card comes with access to Amex Offers (activation required), which can save you even more money on specific purchases.
Cons
- There is a $6,000 spending cap on the U.S. supermarket bonus category, which may not work for those with large grocery budgets.
- You’ll have to pay a foreign transaction fee on international purchases, so it’s not a great choice when you’re traveling abroad.
- Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%. Variable APRs will not exceed 29.99%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- Get up to $120 in statement credits annually when you pay for an auto-renewing subscription to Equinox+ at equinoxplus.com with your Blue Cash Preferred® Card. That’s $10 in statement credits each month. Enrollment required.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Preferred® Card. Enrollment required.
- Terms Apply.
- See Rates & Fees
Best for financing credit card debt
Wells Fargo Reflect® Card
Open Editors rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3
/ 5
Go to review
Apply for Wells Fargo Reflect® CardApply nowfor Wells Fargo Reflect® Card
at
Wells Fargo
's secure site
Terms & restrictions apply.
no offer
no offer
$0
18.24%, 24.74%, or 29.99% Variable APR
Open Credit score description
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.
670-850Excellent, Good
There’s no annual fee, and you’ll enjoy a 0% introductory APR on purchases and qualifying balance transfers for 21 months from account opening. After the introductory period, you’ll face a variable APR of 18.24%, 24.74%, or 29.99%, depending on your creditworthiness (balance transfers made within 120 days qualify for the intro rate, balance transfer fee of 5%, min $5). Read our full review of the Wells Fargo Reflect Card.
Pros
- No annual fee
- Introductory APR offer of 21 months on purchases and qualifying balance transfers.
- Up to $600 in cell phone protection against damage or theft if you use it to pay your monthly bill, subject to a $25 deductible.
Cons
- No points or cash rewards earning potential
- No welcome bonus
- Select "Apply Now" to take advantage of this specific offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 18.24%, 24.74%, or 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
- $0 Annual Fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
Best for Preferred Rewards® members
Bank of America® Customized Cash Rewards credit card
Open Editors rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3.5
/ 5
Go to review
Apply for Bank of America® Customized Cash Rewards credit cardApply nowfor Bank of America® Customized Cash Rewards credit card
at
Bank of America
's secure site
| 3% | Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). |
| 2% | Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). |
| 1% | Earn unlimited 1% on all other purchases. |
Open Intro bonus $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
$200
$0
18.24% - 28.24% Variable APR on purchases and balance transfers
Open Credit score description
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.
670-850Excellent/Good
The Bank of America Customized Cash Rewards card is a great balance transfer card, offering 0% introductory APR on balance transfers (made in the first 60 days) and purchases for 15 billing cycles. Then a variable APR of 18.24%-28.24% will apply. A 3% fee applies to all balance transfers for the first 60 days your account is open, then 4%. In addition, the card offers earning potential with up to 3% cash-back on the cardmember’s chosen bonus category, and members of Bank of America Preferred Rewards® earn even higher rates. New card members can also earn a cash rewards bonus, all without an annual fee. Read our full review of the Bank of America Customized Cash Rewards card.
.
Pros
- Long introductory APR period for balance transfers and purchases
- Bonus cash-back categories
- No annual fee
- Sign-up offer
- Higher earning rates for Preferred Rewards members
Cons
- Manual bonus earning selection
- Bonus earning cap
- Balance transfer fee
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
- Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishing purchases.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more cash back on every purchase. That means you could earn 3.75%-5.25% cash back on purchases in your choice category.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
Best for balance transfers
Citi® Diamond Preferred® Card
Open Editors rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
2.5
/ 5
Go to review
Apply for Citi® Diamond Preferred® CardApply nowfor Citi® Diamond Preferred® Card
at
Citi
's secure site
Terms & restrictions apply.
no offer
no offer
$0
18.24% - 28.99% (Variable)
Open Credit score description
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.
670-850Excellent, Good
The Citi Diamond Preferred Card is not full of perks like the other cards on this list, but it has another appealing attribute: the longest 0% APR period available on the market for a balance transfer. For people looking to consolidate their debt, this could be the card for you. The card offers 21 months of 0% intro APR for balance transfers completed within 4 months of account opening and 12 months of 0% intro APR for purchases. A variable APR of 18.24% to 28.99% will apply after. No other card features almost two years of 0% APR on balance transfers. Read our full review of the Citi Diamond Preferred card.
Pros
- No annual fee
- Longest introductory APR periods for balance transfers
Cons
- Does not earn rewards on spending
- Balance transfer fee
- 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.24% - 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
- Get free access to your FICO® Score online.
- With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
- No Annual Fee - our low intro rates and all the benefits don't come with a yearly charge.
Best for beginner cash back
Blue Cash Everyday® Card from American Express
Open Editors rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3
/ 5
Go to review
Apply for Blue Cash Everyday® Card from American ExpressApply nowfor Blue Cash Everyday® Card from American Express
at
American Express
's secure site
Terms & restrictions apply.
| 3% | 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%. |
| 3% | 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%. |
| 3% | 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%. |
| 1% | 1% Cash Back on other purchases. |
Open Intro bonus Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
Earn $200
$0
19.24% - 29.99% Variable
Open Credit score description
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.
670-850Excellent, Good
The Blue Cash Everyday card is a good option for people who want a simple cash-back structure with no annual fee. You’ll earn bonus cash-back on popular bonus categories, including U.S. supermarkets and U.S. gas stations. Read our full review of the Blue Cash Everyday card.
Pros
- No annual fee
- 3% cash back at U.S. gas stations and U.S. online retail purchases
- Amex Offers, which earn you statement credits or extra points on purchases with a wide variety of merchants. (Enrollment required)
- 3% cash back at U.S. supermarkets
Cons
- There is a $6,000 spending cap on the U.S. supermarket bonus category, which may not work for those with larger annual grocery spend.
- You’ll have to pay a foreign transaction fee on purchases abroad, so it’s not a great choice to take with you when traveling outside of the U.S.
- Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
- No Annual Fee.
- Balance Transfer is back! Enjoy 0% intro APR on purchases and balance transfers for 15 months from the date of account opening. After that, 19.24% to 29.99% variable APR.
- 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%.
- 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%.
- 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Everyday® Card. Enrollment required.
- Enjoy up to $15 back per month when you purchase a Home Chef meal kit subscription (subject to auto renewal) with your enrolled Blue Cash Everyday® Card.
- Terms Apply.
- See Rates & Fees
Best for earning Citi ThankYou® points
Citi Rewards+® Card
Open Editors rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3.5
/ 5
Go to review
Apply for Citi Rewards+® CardApply nowfor Citi Rewards+® Card
at
Citi
's secure site
Terms & restrictions apply.
| 5X | Special offer: earn 5 ThankYou® Points per $1 spent on hotel, car rentals and attractions booked on CitiTravel.com through December 31, 2025. |
| 2X | Earn 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. |
| 1X | Earn 1X ThankYou® Points on All Other Purchases. |
Open Intro bonus Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com.
20,000 points
$0
18.74% - 28.74% (Variable)
Open Credit score description
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.
670-850Excellent, Good
The Citi Rewards+ Card is the only card on this list that earns Citi ThankYou points, which means you can pay off your debt while still earning points toward your next vacation. In addition to an impressive 15-month, 0% introductory APR for purchases and balance transfers (a variable APR of 18.74% to 28.74% will apply after), the Rewards+ also has an introductory balance transfer fee of $5 or 3% (whichever is greater) on transfers in the first four months (5% on all following balance transfers, minimum $5). The card also offers a solid welcome bonus and earn 2 points per dollar on up to $6,000 in combined purchases each year at supermarkets and gas stations. Read our full review of the Citi Rewards+ Card.
Pros
- Long introductory APR period for balance transfers and purchases
- Multiple bonus categories
- No annual fee
- Sign-up offer
Cons
- Bonus earning cap
- Balance transfer fee
- Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
- Plus, as a special offer, earn a total of 5 ThankYou® Points per $1 spent on hotel, car rentals and attractions booked on CitiTravel.com through December 31, 2025.
- 0% Intro APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening. After that, the variable APR will be 18.74% - 28.74%, based on your creditworthiness. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Earn 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X ThankYou® Points on All Other Purchases.
- The Citi Rewards+® Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
- No Annual Fee
Comparing the best credit cards
Credit card | Best for | Intro offer | Earning rate | Annual fee |
|---|---|---|---|---|
See details Apply NowApply for Citi Double Cash® Card Citi Double Cash® Card 4 Open Editors rating Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer. at Citi 's secure site | simple cash back rewards | $200 cash back Open Intro bonus Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. | 1 - 5% cash-back | $0 |
See details Apply NowApply for Blue Cash Preferred® Card from American Express Blue Cash Preferred® Card from American Express 4 Open Editors rating Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer. at American Express 's secure site | gas and U.S. supermarkets | Earn $250 Open Intro bonus Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. | 1 - 6% cash-back | $0 intro annual fee for the first year, then $95. |
See details Apply NowApply for Wells Fargo Reflect® Card Wells Fargo Reflect® Card 3 Open Editors rating Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer. at Wells Fargo 's secure site | financing credit card debt | N/A | N/A | $0 |
See details Apply NowApply for Bank of America® Customized Cash Rewards credit card Bank of America® Customized Cash Rewards credit card 3.5 Open Editors rating Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer. at Bank of America 's secure site | Preferred Rewards® members | $200 Open Intro bonus $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. | 1 - 3% cash-back | $0 |
See details Apply NowApply for Citi® Diamond Preferred® Card Citi® Diamond Preferred® Card 2.5 Open Editors rating Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer. at Citi 's secure site | balance transfers | N/A | N/A | $0 |
See details Apply NowApply for Blue Cash Everyday® Card from American Express Blue Cash Everyday® Card from American Express 3 Open Editors rating Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer. at American Express 's secure site | beginner cash back | Earn $200 Open Intro bonus Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. | 1 - 3% cash-back | $0 |
See details Apply NowApply for Citi Rewards+® Card Citi Rewards+® Card 3.5 Open Editors rating Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer. at Citi 's secure site | earning Citi ThankYou® points | 20,000 points Open Intro bonus Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com. | 1 - 5 points | $0 |
More details on the best credit cards
Apply for Citi Double Cash® Card
Citi Double Cash® Card
Citi Double Cash® Card
The Citi Double Cash Card is a simple and rewarding cash-back card, earning 1% on everything when you make a purchase and another 1% when you pay it off.
The card is best for those who want simple cash-back rewards.
Aside from the earnings rates, if you also hold aCiti Premier® Card (see rates and fees), you can convert your cash back to fully transferable ThankYou points for maximum value.
If you want more-rewarding bonus categories, the Chase Freedom Unlimited® offers 5% back on travel booked through the Chase Travel portal, 3% on dining and drugstore purchases and 1.5% on everything else. This card also offers the opportunity to convert your cash-back rewards to transferable points if you also have a Chase Ultimate Rewards points-earning credit card.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred Card offers lucrative cash back in several spending categories, including 6% back on select U.S. streaming subscriptions and at U.S. supermarkets on up to $6,000 per year in purchases, (then 1%). Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
If you like cash back and spend a lot at supermarkets and on streaming services, this card is a great option.
“The Blue Cash Preferred Card is the card I recommended to my parents when they were looking for a new cash-back rewards card for their groceries. My parents prefer the simplicity of cash-back rewards and I knew they'd benefit from earning 6% cash back on up to $6,000 per year in purchases at U.S. supermarkets. Compared to the 1.5% cash back they were earning on these purchases, the elevated earnings easily justified adding the Blue Cash Preferred to their wallet.” — Katie Genter, senior writer
If you want similar benefits but with no annual fee (see rates and fees), the Blue Cash Everyday® Card from American Express earns 3% back at U.S. supermarkets, U.S. online retail purchases and U.S. gas stations. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
Wells Fargo Reflect® Card
The Wells Fargo Reflect Card is light on benefits but comes with a lengthy introductory annual percentage rate period, which is perfect for balance transfers.
If you think you’ll find yourself needing balance transfers for an extended period of time, this card is a great option.
While there’s no way to accrue points, miles or even cash-back rewards with this card, you can receive up to $600 of cellphone protection against damage and theft when you pay your monthly cellphone bill with your card (subject to a $25 deductible).
If you prefer another issuer, the Citi® Diamond Preferred® Card (see rates and fees) gives cardholders a 0% introductory APR for new purchases for the first 12 months after account opening, and 0% introductory APR for 21 months from the date of the first transfer for balance transfers completed within the first four months of account opening (after the variable APR will be 17.99% to 28.74%).
Bank of America® Customized Cash Rewards credit card
The Bank of America Customized Cash Rewards card is a solid cash-back credit card with a compelling, customizable rewards structure, great for anyone whose spending habits change throughout the year.
This card can be especially lucrative for anyone with significant banking or investing relationships with Bank of America.
“This card is a great multipurpose tool in my wallet because it lets me pick a 3% cash-back earning category each month. If I know I have some purchases coming up that don’t line up to a card where I get a solid earning rate, I’ll swap my 3% category and use this card to maximize my rewards. I also appreciate the clear information in the Bank of America app that shows me exactly what types of merchants line up into each spending category, so it’s easy to make my 3% category choice.” — Gabe Travers, senior director of product management
If you want a simpler rewards structure, the Bank of America®️ Premium Rewards®️ credit card offers an unlimited 2 points per dollar on travel and dining, and 1.5 points per dollar on all other purchases, plus more perks.
Citi® Diamond Preferred® Card
The Citi Diamond has a lengthy introductory APR offer on balance transfers of 21 months from the date of the first transfer, though transfers must be completed within four months from account opening.
It’s geared toward people looking to avoid interest while paying down credit card debt through a long introductory APR offer.
Along with the APR offer, you'll get free access to your FICO credit score, helping you track your score as you pay down your debt. You'll also receive access to Citi Entertainment, with exclusive events and early presales on tickets.
If you want to earn rewards on your purchases, consider the Citi Double Cash® Card (see rates and fees). It has no annual fee and earns 2 points per dollar on all purchases — 1 point when you purchase and another 1 point when you pay your bill.
Blue Cash Everyday® Card from American Express
The Blue Cash Everyday offers solid returns on popular spending categories without an annual fee, plus some other solid perks.
This card is ideal for those who prefer cash-back cards without annual fees. It can also help students and young professionals continue to build credit while earning modest rewards.
“I added this card to my wallet shortly after my first travel card as a way to earn better rewards on gas and groceries. Three percent back on both categories was a great way for me to earn higher cash back on many of my everyday purchases without any added annual fee.” — Jack Markham, senior director
If you want more options for using your earnings, the Citi Double Cash® Card (see rates and fees) has no annual fee and earns 2 points per dollar on all purchases — 1 point when you purchase and another 1 point when you pay your bill. You can cash out these points or transfer them to airline and hotel partners for travel.
Citi Rewards+® Card
The Citi Rewards+ Card has two relatively unique features: It rounds the earnings on all purchases up to the nearest 10 points, and gives you 10% back on the first 100,000 points you redeem yearly.
This card is great if you make many small purchases because each purchase will be rounded to the nearest 10 points. Even a $1 pack of gum will earn 10 points.
This card is a great complement to the Citi Prestige Card (not available to new applicants) or Citi Premier® Card (see rates and fees). That’s because if you also have one of those cards, you can transfer your rewards to the ThankYou Rewards program’s airline and hotel partners.
The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The Amex EveryDay® Credit Card from American Express is perhaps the most similar to the Citi Rewards+ card because it accrues 2 points per dollar on the first $6,000 you spend at U.S. supermarkets each year (then 1 point). Plus, the card rewards making at least 20 transactions in a month with a 20% points bonus, so you’ll probably be making lots of small purchases with either card.
The information for the Amex Everyday has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Apply Nowfor Citi Double Cash® Card
Maximizing balance transfer credit cards
Apply for a new balance transfer credit card
Applying for a new balance transfer credit card is a good way to save money on outstanding debt. A balance transfer on a new credit card with a 0% APR offer will give you the opportunity to put every cent of each payment you make toward the principal balance instead of having that money go toward paying off a monthly interest rate.
Just remember that once you pay off a balance, you should try to keep it that way each month so you don’t accumulate credit card debt again and end up paying high APRs.
Take advantage of balance transfer invitations
You don’t necessarily have to apply for a new credit card if you’re looking into a balance transfer. You should check the current offers on cards you already carry in your wallet to see if you’ve recently received one. If not, then applying for one of the cards on this list may help you pay down credit card debt via balance transfer.
Read : How to do a balance transfer
Stagger your purchases
If you’re looking to make a couple of big purchases that you want to avoid paying interest on, consider staggering them. This way, you can either transfer the cost of each purchase to a balance transfer credit card and save on a high APR or you can apply for a new balance transfer credit card that also offers a 0% introductory APR on purchases for a specific amount of time.
When used responsibly, a balance transfer credit card can help you pay off debt and improve your credit score.
How we rate cards
The best balance transfer cards are ones that align with your financial goals. At TPG, we utilized several criteria to select the best balance transfer cards for various types of cardholders. To learn about how TPG evaluates and chooses cards for our roundups, check out our methodology here.
Welcome bonusNot all of our best balance transfer credit cards offer a welcome bonus, but a select few do.
Annual fee Most of our best balance transfer credit cards do not have an annual fee.
Earning ratesSome of our best balance transfer cards offer cash back within various purchase categories.
Redemption optionsMost of our balance transfer cards earn cash back on purchases which can be redeemed as a statement credit.
Added benefitsMost of our balance transfer cards do not come with additional benefits.
What is a balance transfer?
A balance transfer is when you move an existing credit card balance to another card, ideally with a lower interest rate. This can allow you to pay off your credit card debt more quickly.
Who should get a balance transfer credit card?
Balance transfer cards are best for those who want to save money on interest charges on credit card debt. While it’s always best to pay off your full card balance before interest kicks in, balance transfer cards can help you in a pinch by saving money with lower APRs.
How to do a balance transfer
The exact process for requesting balance transfers varies by issuer, but generally follows this format:
Apply for your chosen balance transfer card
Many balance transfer cards offer 0% APR offers but select cards offer additional benefits like 0% APR on new purchases or the capability to earn cash back on purchases. Generally, balance transfer cards will require good credits. In addition, most issuers don't allow you to move your debt from one card to another.
Request a balance transfer
Generally, you can request a balance transfer from your issuer online but certain cards require you to contact the issuer's customer service line.
Most balance transfer cards will have a window of time to qualify for their introductory rate after card opening. It is normally 60 to 90 days so remember to request your balance transfer within your card's respective time frame to take advantage of the card's introductory APR.
Your new card's credit limit may not be enough to cover your entire balance but you may still get approved to transfer part of your debt to your new issuer. You can expect to pay a balance transfer fee of around 3% of your transferred debt.
Continue payments until the transfer is completed
You must continue to keep making payments to your original creditor until your balance transfer is completed. If not, you could incur late fees or damage your credit score. When the balance transfer is completed, you can stop making payments to the original creditor.
If your new credit line does not cover the entire balance of your original debt, you will still have to continue making the minimum payments on the remaining amount with your original creditor.
Pay down your new balance
Now that your balance transfer is completed, your debt will be moved to your new account. Generally, you will have a period where your debt is interest-free and it is crucial to pay off as much of your debt as possible during this golden period. Credit card debt can quickly snowball due to their high interest rate so use this opportunity wisely and start working towards a better financial future.
Keep in mind that some cards have transfer balance limits, meaning you won't always be able to transfer the entirety of a balance to your card.
What is a balance transfer fee?
A balance transfer fee is a one-time fee associated with moving an outstanding balance from one card to another. It is generally 3%-5% of the total transfer amount.
How to choose the best balance transfer card
To choose the best balance transfer cards, TPG’s editorial team considered the primary perks — including the introductory APR period, balance transfer fees and the eligibility criteria for the card. To narrow down what card is best for you from our curated selection, you can consider other factors like annual fees, welcome bonuses and bonus categories.
Here are some of the main points to consider when choosing a balance transfer credit card:
1
Annual fee
Most of our balance transfer cards do not have an annual fee which means you can take full advantage of these benefits without paying to be a cardholder.
2
Welcome bonus
While most of the welcome bonuses offered by our best balance transfer cards are modest, they also feature a modest spend requirement to earn them.
3
Bonus categories
Some of our best balance transfer cards feature various bonus categories so you can earn on your spending while still taking advantage of a long introductory APR period.
How to choose a balance transfer credit card - The Points Guy
Everything you should know to select the right card for your financial needs
Or, get pre-qualified offers here
Ask our experts
What’s your favorite credit card for balance transfer — and why?
Apply for Citi Double Cash® Card
Citi Double Cash® Card
2% off every purchase
“The Citi Double Cash allows new cardholders to enjoy 0% APR for 18 months on balance transfers. The best part of the Citi Double Cash is that it comes with no annual fee and earns 2% cash-back on all purchases. No optimization strategy needed which is why it remains a fan-favorite in my wallet."
Christina LyCredit cards writer
Apply for Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express
A great multipurpose credit card
"The Blue Cash Preferred provides new cardholders with a lengthy intro APR period on purchases and balance transfers. Coupled with great earning rates in popular categories — like groceries — this card works overtime to maximize your cash back, earning a well-deserved spot in your wallet."
Daisy HernandezCredit cards editor
Apply for Citi Rewards+® Card
Citi Rewards+® Card
A useful companion to other Citi cards
“Apart from a generous balance transfer offer, I value this card for earning points on small purchases. A pack of gum costing $2 at the corner store is rounded up to 10 points. I combine my points with those earned on my Citi Prestige to access the full range of Citi ThankYou transfer partners.”
Matt MoffittManaging editor
Pros + cons of balance transfer credit cards
Pros
- Balance transfer credit cards can help you consolidate debt with high interest rates and pay it off quickly.
- Many balance transfer credit cards give you at least 12 months to pay off the debt you transfer to the card.
- Some balance transfer cards offer introductory 0% APR on new purchases as well as balance transfers.
Cons
- Initiating a balance transfer isn’t free — you’ll usually incur a fee of $5 or 3% of the balance (whichever is greater).
- If you don’t pay off the transferred balance by the end of the introductory period, you’ll be hit with high interest charges.
- Some balance transfer cards don’t allow you to earn any rewards on new purchases.
Frequently asked questions
Yes. Balance transfer cards allow you to move an existing credit card balance to another card, ideally with a lower interest rate. This can allow you to pay off your credit card debt more quickly.
The credit card will stay open but now with a zero or low balance. Then you can choose whether to close the account or keep it open. Closing it may decrease your credit score, but keeping it open may tempt you to accrue more debt.
Balance transfers typically take five to seven days. However, they can take up to 21 days, depending on the issuer.
It’s mixed. Opening a new card for a balance transfer would increase the total amount of credit you have, which should help your utilization ratio go down. This would increase your score. However, a high ratio on a single card after a balance transfer might have a negative effect in the short and medium term.
