With rates of interest persevering with to climb over the previous two years, variable-rate debt has grow to be more expensive than ever to personal. In case you’re seeking to give your self a clear slate, opening a brand new card with an introductory 0% APR stability switch supply might be a sensible technique.
The Fortune RecommendsTM crew evaluated greater than 30 stability switch bank cards obtainable right now and ranked them primarily based on components akin to introductory interval, annual percentage rate (APR), rewards construction, client advantages, and extra. See our full methodology here.
Finest stability switch bank cards of April 2024
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Capital One Quicksilver Money Rewards Credit score Card
Intro Bonus
Earn $200 as a one-time money bonus when you spend $500 inside 3 months from account opening.
| Annual Charge | $0 |
| 0% Intro APR | 15 months |
| Rewards | 1.5% money again on all purchases |
Finest general stability switch card: U.S. Financial institution Visa Platinum Card
U.S. Financial institution Visa® Platinum Card
Intro Bonus
Prolonged 0% introductory APR interval for purchases and stability transfers.
| 0% stability switch time period | 21 months |
| Stability switch price | 3% |
| Annual Charge | $0 |
| Common APR | 18.74%–29.74% |
Why we like this card
The U.S. Financial institution Visa® Platinum Card options an exceptionally lengthy 0% introductory APR interval for purchases and stability transfers. After that, the cardboard reverts to a variable APR of 18.74%–29.74%, relying on creditworthiness. Stability transfers additionally embody a price or 3% of the quantity of every switch, $5 minimal.
This card additionally comes with a couple of further perks, together with as much as a $600 reimbursement in case your cellphone is stolen or broken once you pay your month-to-month cellphone invoice along with your card. Plus, there’s no annual price, making the U.S. Financial institution Visa® Platinum Card a cheap selection for cardholders seeking to reduce their debt.
Finest for no charges: Citi Simplicity Credit score Card
Citi Simplicity Credit score Card
Intro APR
21-month introductory 0% APR on stability transfers and a 0% intro APR for 12 months on purchases.
| 0% stability switch time period | 21 months |
| Stability switch price | 3% |
| Annual price | $0 |
| Common APR | 19.24%-29.99% |
Why we like this card
With no annual price, late charges, or penalty APR, the Citi Simplicity® Credit score Card stands out as a consumer-friendly choice. It affords a formidable 21-month introductory 0% APR on stability transfers (and a 0% intro APR for 12 months on purchases). The stability switch price is 3% of the quantity of the switch, $5 minimal, for transfers accomplished inside 4 months of account opening. After that, the price is 5% of every switch (minimal $5). As soon as the intro interval is over, the APR reverts to a variable 19.24%–29.99%, relying on creditworthiness.
Finest for truthful credit score: Citi® Double Money Credit score Card
Citi Double Money Credit score Card
Intro Bonus
Earn $200 money again after you spend $1,500 on purchases within the first 6 months and get an 18-month 0% introductory APR on stability transfers
| 0% stability switch time period | 18 months |
| Stability switch price | 3% |
| Annual price | $0 |
| Common APR | 19.24%-29.24% |
Why we like this card
The Citi® Double Money Credit score Card is right for individuals who need a simple rewards program with out the necessity to monitor spending classes or join quarterly bonuses—and with out the necessity for wonderful credit score to qualify. It affords a beneficiant 18-month introductory 0% APR on stability transfers. The stability switch price is 3% of the quantity of the switch, $5 minimal, for transfers accomplished inside 4 months of account opening. After that, the price is 5% of every switch (minimal $5). As soon as the intro interval is over, the APR reverts to a variable 19.24%–29.24%, relying on creditworthiness.
Moreover, the Citi Double Money card gives 2% money again on all purchases: 1% money again once you make a purchase order, plus an extra 1% as you pay. There are not any class restrictions or enrollment required, and there’s no restrict on the amount of money again you may earn. For a restricted time card holders additionally earn 5% whole money again on lodge and automotive leases booked on the Citi Journey℠ portal by means of 12/31/24.
New cardholders even have the chance to earn $200 money again after spending $1,500 on purchases within the first six months of account opening. Plus, the cardboard affords further perks akin to 24-hour fraud safety with no annual price.
Finest for post-balance switch APR: BankAmericard®
BankAmericard
Intro Bonus
Prolonged 0% introductory APR interval for purchases and stability transfers.
| 0% stability switch time period | 18 months |
| Stability switch price | 3% |
| Annual Charge | $0 |
| Common APR | 16.24%-26.24% |
Why we like this card
The BankAmericard® is a superb selection for individuals who need a card with a protracted 0% APR interval for each purchases and stability transfers, plus an affordable APR as soon as the intro interval is over. It affords a worthwhile introductory 0% APR for the primary 18 billing cycles on purchases, in addition to stability transfers made inside 60 days of opening your account. After the intro APR supply ends, a variable APR of 16.24%–26.24% applies, relying on creditworthiness. A 3% price applies to all stability transfers.
Regardless of its lack of an annual price, cardholders additionally get pleasure from a number of worthwhile perks, together with free entry to their TransUnion FICO rating and non-compulsory overdraft safety for an eligible Financial institution of America checking account.
Finest for money again: Chase Freedom Flex Credit score Card
Chase Freedom Flex℠
Intro bonus
$200 money bonus after spending $500 on purchases inside your first three months
| 0% stability switch time period | 15 months |
| Stability switch price | 3% |
| Annual price | $0 |
| Common APR | 20.49%–29.24% Variable |
Why we like this card
The Chase Freedom Flex Credit score Card is a superb choice for these searching for excessive money again charges and a various rewards program. It gives a formidable introductory 0% APR for the primary 15 billing cycles on purchases and stability transfers. It additionally has a beneficiant rewards construction that, when maximized, rivals the best cash-back cards available on the market.
Finest for journey and client protections: Chase Freedom Limitless bank card
Chase Freedom Limitless®
Intro bonus
An extra 1.5% on all the pieces you purchase (on as much as $20,000 spent within the first yr), price as much as $300 money again.
| Intro 0% stability switch time period | 15 months |
| Stability switch price | $5 or 3% of the quantity of every switch, whichever is larger, on transfers made inside 60 days of account opening. After that: Both $5 or 5% of the quantity of every switch, whichever is larger. |
| Annual price | $0 |
| Common APR | 20.49%–29.24% Variable |
Why we like this card
Along with a prolonged introductory APR interval and beneficiant rewards program, the Chase Freedom Limitless® bank card additionally affords a bunch of worthwhile protections. It affords a aggressive introductory 0% APR for the primary 15 billing cycles on purchases and stability transfers. Regardless of its lack of an annual price, the Chase Freedom Limitless card additionally comes with a number of client and journey advantages, together with buy safety, prolonged guarantee safety, cellphone insurance coverage, journey cancellation/interruption insurance coverage, and auto rental collision harm waiver.
Finest for journey rewards: Amex EveryDay® Credit score Card
Amex EveryDay® Credit score Card
Intro Bonus
Earn 10,000 Membership Rewards factors once you spend $1,000 in first 3 months
| 0% stability switch time period | 15 months |
| Stability switch price | 3% |
| Annual price | $0 |
| Common APR | 18.24%–29.24% |
Why we like this card
The Amex EveryDay® Credit score Card is especially well-suited for normal consumers, particularly those that spend so much on groceries, in addition to frequent vacationers. It comes with a 0% introductory APR on purchases and stability transfers for 15 months from the date of account opening whereas incomes worthwhile Membership Rewards factors. Plus, the On a regular basis card comes with added journey protections akin to automotive rental loss and harm insurance coverage and a International Help hotline.
Finest for choose-your-own-adventure: Financial institution of America Personalized Money Rewards
Financial institution of America Personalized Money Card
Intro Bonus
Earn $200 after spending $1,000 within the first 90 days after account opening and a 0% introductory APR on your first 15 billing cycles for purchases, and for any stability transfers made inside the first 60 days of opening your account.
| 0% stability switch time period | 15 months |
| Stability switch price | 3% |
| Annual price | $0 |
| Common APR | 18.24%–28.24% |
Why we like this card
The Financial institution of America® Personalized Money Rewards card is right for these in search of versatile reward choices, particularly in classes the place they spend essentially the most, together with further perks and a aggressive sign-up bonus, all with out an annual price. It affords a 0% introductory APR on your first 15 billing cycles for purchases, and for any stability transfers made inside the first 60 days of opening your account.
This card additionally stands out for its aggressive money again rewards. First, you select which class you wish to earn 3% money again in: fuel and EV charging stations; on-line buying, together with cable, web, cellphone plans and streaming; eating; journey; drug shops and pharmacies; or dwelling enchancment and furnishings. This choice will be modified sooner or later.
You additionally routinely earn 2% money again at grocery shops and wholesale golf equipment, and an infinite 1% money again on all different purchases. Notice that you simply earn 3% and a pair of% money again on the primary $2,500 in mixed purchases every quarter within the selection class, and at grocery shops and wholesale golf equipment, then earn limitless 1% thereafter. Most well-liked Rewards members earn 25% to 75% extra cash again on each buy.
Finest for Most well-liked Rewards members: Financial institution of America® Limitless Money Rewards
Financial institution of America Limitless Money Card
Intro Bonus
Earn a $200 on-line money rewards welcome bonus by spending at the least $1,000 in purchases inside the first 90 days of account opening and 0% introductory APR on your first 15 billing cycles for purchases, and for any stability transfers made inside the first 60 days of opening your account.
| 0% stability switch time period | 15 months |
| Stability switch price | 3% |
| Annual price | $0 |
| Common APR | 18.24%–28.24% |
Why we like this card
The Financial institution of America® Limitless Money Rewards card is a compelling choice for these in search of a simple, no-annual-fee money again bank card—particularly for Financial institution of America Most well-liked Rewards members who can maximize their money again returns.
Just like the Personalized Money Rewards card, the Limitless Money Rewards card from Financial institution of America affords a 0% introductory APR on your first 15 billing cycles for purchases, and for any stability transfers made inside the first 60 days of opening your account.
Nevertheless, these playing cards differ in relation to their rewards. The Financial institution of America Personalized Money Rewards card gives 1.5% money again on all purchases. There’s no restrict to the amount of money again you may earn and money rewards don’t expire.
Most well-liked Rewards members earn 25%-75% extra cash again on each buy, which interprets to a money again price of 1.87% to 2.62%. Members of the Financial institution of America Most well-liked Rewards program get pleasure from many different unique advantages and pricing reductions as nicely.
What’s a stability switch?
A stability switch includes transferring the excellent stability from a number of bank cards to a different bank card, often with a decrease rate of interest. With a purpose to appeal to new enterprise, some playing cards could even supply an introductory 0% APR on stability transfers. Cardholders typically select to switch a stability in an effort to consolidate high-interest bank card debt and cut back the quantity of curiosity being accrued, permitting them to economize and repay the stability sooner. Learn more about how balance transfers work.
What’s the distinction between 0% APR on purchases and a stability switch?
A stability switch occurs once you take the stability from a higher-interest mortgage and switch it to a card with a decrease rate of interest. 0% APR on purchases lets you finance a big buy for an extended time frame with out curiosity. If you’re seeking to make a big buy, try our record of Best 0% APR cards.
How a lot does it price to do a stability switch?
Most bank card issuers cost a stability switch price that sometimes ranges from 3% to five% of the quantity being transferred. As an illustration, when you switch $10,000 and the price is 3%, you’ll pay a one-time price of $300.
Additionally, take into account that whereas some stability switch bank cards supply a 0% introductory APR for a set interval (often round 12 to 18 months), when you don’t repay the transferred stability inside that interval, you’ll begin accruing curiosity on the card’s customary price. Earlier than transferring a stability to a brand new card, you should definitely verify the price and APR for stability transfers and perceive how lengthy the promotional price applies.
When ought to I do a stability switch?
When you have high-interest bank card debt, transferring the stability to a card with a decrease rate of interest can prevent cash. It additionally makes it simpler to repay your debt sooner since 100% of your funds go towards the principal stability. In case you discover a bank card providing an introductory 0% APR on stability transfers, this generally is a nice alternative to pay down your debt with out accruing further curiosity throughout the promotional interval.
How do I do a stability switch?
Begin by evaluating your choices and search for a card that gives favorable phrases. Key components to contemplate embody the size of the introductory 0% APR interval (if there may be one), the common APR after the introductory interval ends, and the stability switch price.
When you’ve chosen a card that matches your wants, you may apply for it. Be certain your credit score rating aligns with the cardboard issuer’s necessities to make sure you get accepted.
After your utility is accepted and also you obtain your new card, you may provoke the switch. This may typically be performed on-line by means of your new bank card account or by calling the cardboard issuer. You’ll want to offer a couple of particulars, together with the cardboard numbers and quantities you wish to switch from every account.
Continuously Requested Questions
Do stability transfers harm your credit score rating?
A stability switch itself ought to have a negligible influence in your credit score rating. Nevertheless, when you regularly open new bank cards and switch debt round with out paying it down, your rating will be harmed in the long term.
Is a stability switch ever a good suggestion?
A stability switch will be a good suggestion when you have a high-interest bank card with a big stability. Transferring the stability to a brand new card with a low or 0% APR may help you pay down the debt sooner with out the added burden of accrued curiosity.
Is there a catch to stability switch playing cards?
There isn’t a catch with stability transfers, however there are a few necessary factors to concentrate on. The primary is that normally, you’ll be required to pay a price of round 3% to five% once you switch a stability. Nevertheless, this price is often definitely worth the curiosity financial savings. Second, it’s best to repay your whole stability earlier than the introductory APR is over, in any other case you’ll begin accumulating curiosity on the common buy price.
Our methodology
To carry you our high picks for the very best money again bank cards, the Fortune Recommends crew in contrast greater than 30 stability switch playing cards obtainable from main issuers.
We ranked every account in these six core classes:
- Introductory 0% APR stability switch time period (60%): Essentially the most closely weighted think about our rankings was the size of time that the introductory 0% APR on stability transfers lasts.
- Stability switch price (5%): That is the one-time price related to every stability switch. We solely thought of playing cards with a stability switch price of three% or much less.
- Most APR on purchases and stability transfers (10%): To make sure cardholders with an current stability as soon as the intro interval is over aren’t burdened by extreme rates of interest, we thought of the utmost APR every card fees for stability transfers and purchases.
- Rewards (10%): Playing cards that additionally present rewards (akin to cash back or points) on spending got a lift in our rankings.
- Welcome bonus (5%): It’s frequent for bank card issuers to entice new clients by providing a bonus after they spend a sure amount of cash inside a couple of months after opening an account. Playing cards that embody a welcome bonus had been favored in our rankings.
- Client advantages (10%): Playing cards had been awarded 0–5 factors primarily based on which client advantages/protections had been included: buy safety, prolonged guarantee, cellphone insurance coverage, automotive rental protection, and journey cancellation/interruption insurance coverage.
Needless to say the rates of interest, stability switch phrases, and price buildings for the playing cards talked about can be found for restricted intervals and topic to alter.
Please observe that card particulars are correct as of the publish date, however are topic to alter at any time on the discretion of the issuer. Please contact the cardboard issuer to confirm charges, charges, and advantages earlier than making use of.
Phrases apply to American Specific advantages and affords. Enrollment could also be required for choose American Specific advantages and affords. Go to americanexpress.com to be taught extra.
Eligibility and Profit stage varies by Card. Phrases, Situations, and Limitations Apply. Please go to americanexpress.com/benefitsguide for extra particulars. Underwritten by Amex Assurance Firm.
