Credit card debt and high-interest rates can be a nightmare. Nerd Wallet reports that almost 50% of households in America have a credit card balance of almost $7,000 that just won’t go down. Worse yet, these people tend to pay an excess of $1,000 in interest alone! [1]
Luckily, there are balance transfer credit cards that temporarily give you a 0% interest rate. Below, we’ll present some of the best ones. According to CreditCards.com, the ones covered in this article are ideal for people with a credit score between 670 and 850. [3]
Discover It Balance Transfer Card
This balance transfer card from Discover also works as a rewards card. It comes with free alerts for Social Security numbers, free FICO credit score reports, and US customer service.
Card Terms:
– 3% balance transfer fee
– Variable APR, 14.24% to 25.24%
– 12-month cashback match
– 1% back reward for all purchases and 5% back for select ones
– No annual fees
– 0% APR on purchases in first six months
– 18 months of 0% transfers
Average Savings:
If you transfer to a Discover It card and have a 15% APR, you can save about $330 for every $2500 transferred. [3]
Capital One Quicksilver Rewards Card
This card comes with a 0% new purchase interest lasting 15 months, and a $150 bonus in cash for spending over $500 within the three months.
Card Terms:
– 3% balance transfer fee
– Variable APR, 15.24% to 25.24%
– No foreign transaction fees
– 5% cashback for all purchases
– No annual fees
– 15 months of 0% APR transfers and new purchases
Average Savings:
If you transfer $2,500 from a 15% APR account to this one, you can save $335. [4]
BankAmericard Credit Card
The BankAmericard gives you 60 days for balance transfers with no automatic APR penalties if you’re late on payments. You can also check your FICO score for free online.
Card Terms
– 3% or $10 transfer fees, the higher one is applied
– Variable APR, 15.24% to 25.24% after 18 months
– No annual fee
– 0% APR new purchases for 18 months
– 0% APR transfers and new purchases for 18 months
Average Savings:
You can save up to $430 if transferring $2,500 from a 15% APR card. [5]
Chase Freedom Unlimited
The Chase Freedom Unlimited rewards card comes with a $150 bonus for spending $500 within 90 days of signing up, and cash back without minimum requirements for all active accounts.
Card Terms:
– 3% or $5 balance transfer fee, the higher one is applied
– Variable APR after 15-months: 24% to 25.99%
– 5% cashback with every purchase
– No annual fees
– 0% new purchases for 15 months
– 15 months of 0% APR balance transfers
Average Savings:
Customers that transfer $2,500 from a 15% APR card, can save $317. [6]
Citi Simplicity Card
The City Simplicity Card lets you pick a due date and it has no late fees while promising no penalty rates.
Card Terms:
– 5% balance transfer fee
– Variable APR, 16.24 to 26.24% after intro period.
– No annual fees
– 12 months of 0% APR for new purchases
– 21 months of 0% APR for balance transfers done within 120 days
Average Savings:
Transfer $2,500 from a 15% APR card and save $455. [7]
[1] https://www.nerdwallet.com/blog/average-credit-card-debt-household/
[2] https://www.creditcards.com/balance-transfer/
[3] https://www.discover.com/credit-cards/cash-back/it-card.html
[4] https://www.capitalone.com/credit-cards/cash-back/quicksilver/
[5] https://www.bankofamerica.com/credit-cards/products/bankamericard-credit-card/