Discover APRs are correct as of December 12, 2024
Credit cards have notoriously excessive rates of interest, so carrying a steadiness will be pricey. However, some playing cards supply a path to paying off debt faster with an introductory 0% APR period. These playing cards supply no curiosity for as much as 21 months, which may greater than offset any steadiness switch charges.
Below, CNBC Select critiques the perfect steadiness switch playing cards and we share what you could learn about utilizing a steadiness switch card (see our methodology for info on how we selected these playing cards).
Best with intro 0% APR for 21 months
Citi Simplicity® Card
The Citi Simplicity® Card could not earn rewards, however it might nonetheless prevent cash resulting from its wonderful intro-APR gives.
- One of the longest intro-APR gives for steadiness transfers
- No annual charge
- No rewards
- No welcome bonus
Highlights
Highlights proven listed here are supplied by the issuer and haven’t been reviewed by CNBC Select’s editorial workers.
- No Late Fees, No Penalty Rate, and No Annual Fee… Ever
- 0% Intro APR for 21 months on steadiness transfers from date of first switch and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR might be 18.49% – 29.24%, primarily based in your creditworthiness. Balance transfers have to be accomplished inside 4 months of account opening
- There is an intro steadiness switch charge of three% of every switch (minimal $5) accomplished inside the first 4 months of account opening. After that, your charge might be 5% of every switch (minimal $5).
- Stay protected with Citi® Quick Lock
Balance switch charge
There is an intro steadiness switch charge of three% of every switch (minimal $5) accomplished inside the first 4 months of account opening. After that, your charge might be 5% of every switch (minimal $5).
Foreign transaction charge
Who’s this for: The Citi Simplicity® Card has a beneficiant 0% APR interval for steadiness transfers and a decrease steadiness switch charge than different choices.
Balance switch supply: When you switch a steadiness to the Citi Simplicity card inside the first 4 months from account opening, you may obtain an intro 0% APR on that steadiness for 21 months. Then a variable 18.49% – 29.24% APR applies. An intro steadiness switch charge of three% of the quantity you switch ($5 minimal) applies to transfers you make within the first 4 months, after {that a} charge of 5% of the quantity you switch applies ($5 minimal). The intro charge is decrease than the balance transfer fee for some playing cards with an analogous 0%-APR timeframe such because the Citi® Diamond Preferred® Card.
Wells Fargo Reflect® Card
Wells Fargo Reflect® Card
On Wells Fargo’s safe website
-
Rewards
-
Welcome bonus
-
Annual charge
-
Intro APR
0% intro APR for 21 months from account opening on purchases and qualifying steadiness transfers.
-
Regular APR
17.24%, 23.74% or 28.99% variable APR
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Balance switch charge
-
Foreign transaction charge
-
Credit wanted
Pros
- Best-in-class intro-APR for purchases and qualifying steadiness transfers
- No annual charge
- Cell cellphone insurance coverage
Cons
- No rewards
- No welcome bonus
- High steadiness switch charge
Who’s this for: The Wells Fargo Reflect® Card has one of many longest introductory 0% APR durations for purchases and steadiness transfers.
Balance switch supply: Balance transfers you make inside 120 days of account opening qualify for a 0% intro APR for 21 months, after {that a} variable 17.24%, 23.74% or 28.99% APR applies. The balance transfer fee is 5% of every switch with a $5 minimal.
Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card is likely one of the greatest steadiness switch bank cards and likewise has a beneficiant intro APR supply.
- One of the longest intro-APR gives for steadiness transfers
- No annual charge
- No rewards
- No welcome bonus
Highlights
Highlights proven listed here are supplied by the issuer and haven’t been reviewed by CNBC Select’s editorial workers.
- 0% Intro APR for 21 months on steadiness transfers from date of first switch and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR might be 17.49% – 28.24%, primarily based in your creditworthiness. Balance transfers have to be accomplished inside 4 months of account opening.
- There is a steadiness switch charge of both $5 or 5% of the quantity of every switch, whichever is bigger
- Get free entry to your FICO® Score on-line.
- With Citi Entertainment®, get particular entry to buy tickets to hundreds of occasions, together with concert events, sporting occasions, eating experiences and extra.
- No Annual Fee – our low intro charges and all the advantages don’t include a yearly cost.
Balance switch charge
5% of every steadiness switch; $5 minimal. Balance transfers have to be accomplished inside 4 months of account opening.
Foreign transaction charge
Who’s this card for: The Citi® Diamond Preferred® Card is a superb possibility for these with good or glorious credit score looking for an extended introductory 0% APR interval.
Balance switch supply: You’ll get 0% intro APR for 21 months on steadiness transfers from the date of the primary switch (17.49% – 28.24% variable APR afterward). Balance transfers have to be accomplished inside 4 months of account opening and there’s a steadiness switch charge of both $5 or 5% of the quantity of every switch, whichever is bigger
Best with intro 0% APR for 18 months
Discover it® Chrome
The Discover it® Chrome has an exceptionally lengthy intro-APR supply for steadiness transfers.
- Unique welcome bonus matches the money again new cardholders earn for the primary yr
- Generous intro-APR gives apply to purchases and steadiness transfers
- No annual charge
- Capped bonus cash-back classes, then you definately’ll earn 1% again
- Fewer rewarding bonus spending classes in comparison with some cash-back playing cards
Highlights proven listed here are supplied by the issuer and haven’t been reviewed by CNBC Select’s editorial workers.
Highlights
- Intro Offer: Unlimited Cashback Match for all new cardmembers–solely from Discover. Discover will robotically match all of the money again you’ve got earned on the finish of your first yr! There’s no minimal spending or most rewards. Just a dollar-for-dollar match.
- Earn 2% money again at Gas Stations and Restaurants on as much as $1,000 in mixed purchases every quarter, robotically. Plus earn limitless 1% money again on all different purchases.
- Get a 0% intro APR for 18 months on steadiness transfers. Then 18.49% to 27.49% Standard Variable APR applies, primarily based on credit score worthiness. Rates as of December 12, 2024.
- Redeem your rewards for money at any time.
- Discover might make it easier to cut back publicity of your private info on-line by serving to you take away it from choose people-search websites that would promote your information. It’s free, activate with the cellular app.
- No annual charge.
- Terms and situations apply.
Balance switch charge
3% intro steadiness switch charge, as much as 5% charge on future steadiness transfers (see phrases)*
Who’s this for: The Discover it® Chrome is a perfect Discover credit card for transferring bank card balances.
Balance switch supply: You’ll get 18 months of a 0% intro APR on eligible steadiness transfers with the Discover it® Chrome. For purchases, you may get an intro 0% APR for six months. After the 0% intro APR gives expire, a variable 18.49% to 27.49% APR applies. The card has a 3% intro steadiness switch charge of as much as 5% charge on future steadiness transfers (see phrases)*.
Citi Double Cash® Card
The Citi Double Cash® Card is likely one of the greatest no-annual-fee cash-back playing cards due to its simple rewards construction.
- Long intro-APR for steadiness transfers
- High flat-rate cash-back rewards construction
- No annual charge
- Has a overseas transaction charge
- Intro APR does not apply to purchases
Highlights
Highlights proven listed here are supplied by the issuer and haven’t been reviewed by CNBC Select’s editorial workers.
- Earn $200 money again after you spend $1,500 on purchases within the first 6 months of account opening. This bonus supply might be fulfilled as 20,000 ThankYou® Points, which will be redeemed for $200 money again.
- Earn 2% on each buy with limitless 1% money again once you purchase, plus an extra 1% as you pay for these purchases. To earn money again, pay no less than the minimal due on time. Plus, a particular journey supply, earn 5% whole money again on lodge, automobile leases and points of interest booked on the Citi Travel℠ portal via 12/31/25.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR might be 18.49% – 28.49%, primarily based in your creditworthiness.
- Balance Transfers don’t earn money again. Intro APR doesn’t apply to purchases.
- If you switch a steadiness, curiosity might be charged in your purchases until you pay your total steadiness (together with steadiness transfers) by the due date every month.
- There is an intro steadiness switch charge of three% of every switch (minimal $5) accomplished inside the first 4 months of account opening. After that, your charge might be 5% of every switch (minimal $5).
Balance switch charge
For steadiness transfers accomplished inside 4 months of account opening, an intro steadiness switch charge of three% of every switch ($5 minimal) applies; after that, a steadiness switch charge of 5% of every switch ($5 minimal) applies
Foreign transaction charge
Who’s this for: The Citi Double Cash® Card is likely one of the best cash-back cards, on high of that includes a beneficiant steadiness switch supply.
Balance switch supply: With the Citi Double Cash Card, you may get pleasure from a 0% intro APR for the primary 18 months on steadiness transfers you full within the first 4 months of account opening. After the intro APR expires, a variable 18.49% – 28.49% APR applies. There’s an intro steadiness switch charge of three% of every transfer ($5 minimal) inside the first 4 months, then the steadiness switch charge will increase to five% of any quantity you switch ($5 minimal).
Chase Slate Edge℠
The Chase Slate Edge℠ is a superb intro-APR card if you wish to save on curiosity, nevertheless it does not earn rewards.
- Long intro APR for purchases and steadiness transfers
- No annual charge
- No rewards
- Has a overseas transaction charge
Balance switch charge
Intro charge of both $5 or 3% of the quantity of every switch, whichever is bigger, on transfers made inside 60 days of account opening. After that, both $5 or 5% of the quantity of every switch, whichever is bigger.
Foreign transaction charge
3% of the quantity of every transaction in U.S. {dollars}
Who’s this for: The Chase Slate Edge℠ gives introductory 0% APR timeframes for steadiness transfers and purchases.
Balance switch supply: With the Chase Slate Edge, you may obtain an intro 0% APR for 18 months on eligible steadiness transfers, then a variable 20.49% to 29.24% APR applies. An intro steadiness switch charge of three% of the quantity transferred ($5 minimal) applies to transfers you make within the first 60 days. After that, the steadiness switch charge is 5% of the quantity transferred ($5 minimal).
Best with intro 0% APR for 15 months
Chase Freedom Unlimited®
The Chase Freedom Unlimited® is a no-annual-fee card that earns beneficiant cash-back on on a regular basis purchases and a profitable welcome bonus.
- Valuable welcome bonus and excessive rewards charges
- Long intro APR for purchases and steadiness transfers
- No annual charge
- Has a overseas transaction charge
- Few rewarding ongoing advantages
Highlights
Highlights proven listed here are supplied by the issuer and haven’t been reviewed by CNBC Select’s editorial workers.
- Intro Offer: Earn an extra 1.5% money again on all the things you purchase (on as much as $20,000 spent within the first yr) – value as much as $300 money again!
- Enjoy 6.5% money again on journey bought via Chase Travel℠, our premier rewards program that allows you to redeem rewards for money again, journey, reward playing cards and extra; 4.5% money again on drugstore purchases and eating at eating places, together with takeout and eligible supply service, and three% on all different purchases (on as much as $20,000 spent within the first yr).
- After your first yr or $20,000 spent, get pleasure from 5% money again on journey bought via Chase Travel℠, 3% money again on drugstore purchases and eating at eating places, together with takeout and eligible supply service, and limitless 1.5% money again on all different purchases.
- No minimal to redeem for money again. You can select to obtain a press release credit score or direct deposit into most U.S. checking and financial savings accounts. Cash Back rewards don’t expire so long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and steadiness transfers, then a variable APR of 19.74% – 28.49%.
- No annual charge – You will not must pay an annual charge for all the good options that include your Freedom Unlimited® card
- Keep tabs in your credit score well being, Chase Credit Journey helps you monitor your credit score with free entry to your newest rating, alerts, and extra.
- Member FDIC
Balance switch charge
Intro charge of both $5 or 3% of the quantity of every switch, whichever is bigger, on transfers made inside 60 days of account opening. After that, both $5 or 5% of the quantity of every switch, whichever is bigger.
Foreign transaction charge
3% of every transaction in U.S. {dollars}
Who’s this for: The Chase Freedom Unlimited® is a wonderful cash-back card to think about if you wish to earn rewards whereas paying down your bank card debt.
Balance switch supply: Chase Freedom Unlimited® cardmembers can switch balances and obtain an intro 0% APR for the primary 15 months, then a variable 19.74% – 28.49% APR applies. An intro steadiness switch charge of three% of the quantity you switch ($5 minimal) applies for the primary 60 days. After that, the steadiness switch charge will increase to five% of the quantity you switch ($5 minimal).
Wells Fargo Active Cash® Card
Wells Fargo Active Cash® Card
On Wells Fargo’s safe website
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Rewards
Unlimited 2% money rewards on purchases
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Welcome bonus
Earn a $200 money rewards bonus after spending $500 in purchases within the first 3 months
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Annual charge
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Intro APR
0% intro APR for 12 months from account opening on purchases and qualifying steadiness transfers.
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Regular APR
19.24%, 24.24%, or 29.24% Variable APR
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Balance switch charge
Intro fee and charge of three% then a BT charge of as much as 5%, min: $5.
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Foreign transaction charge
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Credit wanted
Pros
- High flat-rate return on all purchases
- Intro-APR for purchases and qualifying steadiness transfers for a yr
- No annual charge
- Cell cellphone insurance coverage
Cons
- Has a overseas transaction charge
- Limited redemption choices until you pair it with a Wells Fargo card that permits level transfers
The Wells Fargo Active Cash® Card is nice if you would like simplicity due to its flat-rate 2% limitless money rewards on all purchases and $0 annual charge.
Who’s this for: The Wells Fargo Active Cash® Card is efficacious due to its intro APR supply however even with out that, it stands out as a top-notch cash-back card.
Balance switch supply: You can switch balances within the first 120 days from opening the account and obtain a 0% intro APR for 12 months from account opening on purchases and qualifying steadiness transfers. 19.24%, 24.24%, or 29.24% Variable APR thereafter; steadiness transfers made inside 120 days qualify for the intro fee and charge of three% then a BT charge of as much as 5%, min: $5.
Discover it® Cash Back
The Discover it® Cash Back gives a wonderful return in a variety of helpful rotating quarterly bonus classes.
- Unique welcome bonus matches the money again new cardholders earn for the primary yr
- Generous intro-APR supply applies to purchases and steadiness transfers
- No annual charge
- Cash-back classes have to be activated every quarter
- Bonus money again is capped, then you definately’ll earn 1% again
Highlights proven listed here are supplied by the issuer and haven’t been reviewed by CNBC Select’s editorial workers.
Highlights
- Intro Offer: Unlimited Cashback Match for all new cardmembers–solely from Discover. Discover will robotically match all of the money again you’ve got earned on the finish of your first yr! There’s no minimal spending or most rewards. You might flip $150 money again into $300.
- Earn 5% money again on on a regular basis purchases at completely different locations you store every quarter like grocery shops, eating places, fuel stations, and extra, as much as the quarterly most once you activate. Plus, earn limitless 1% money again on all different purchases.
- Redeem your rewards for money at any time.
- Apply and you might get a call in as little as 60 seconds. No annual charge.
- Start buying and incomes rewards in minutes with our digital card, earlier than your bodily card arrives within the mail, if eligible.
- Discover might make it easier to cut back publicity of your private info on-line by serving to you take away it from choose people-search websites that would promote your information. It’s free, activate with the cellular app.
- Get a 0% intro APR for 15 months on purchases. Then 18.49% to 27.49% Standard Variable Purchase APR applies, primarily based on credit score worthiness. Rates as of December 12, 2024.
- Terms and situations apply.
Balance switch charge
3% intro steadiness switch charge, as much as 5% charge on future steadiness transfers (see phrases)*
Who’s this for: The Discover it® Cash Back has an exceptionally rewarding intro bonus supply, which makes it a priceless possibility for anybody who desires to reap the benefits of an intro-APR deal.
Balance switch supply: With a brand new Discover it Cash Back card, you may get a 0% intro APR on steadiness transfers for 15 months, after {that a} variable APR of 18.49% to 27.49% applies. There is a 3% intro steadiness charge and as much as a 5% charge on future steadiness transfers (see phrases).
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card has no annual charge, cash-back rewards and a beneficiant intro-APR supply, which make it an ideal possibility for saving on curiosity whereas incomes rewards.
- No annual charge
- Low spending requirement for the welcome bonus
- Redeem money again for any quantity at any time
- No overseas transaction charge
- 3% steadiness switch charge in the course of the first 15 months your account is open
- No bonus rewards classes
Highlights
Highlights proven listed here are supplied by the issuer and haven’t been reviewed by CNBC Select’s editorial workers.
- Earn a one-time $200 money bonus after you spend $500 on purchases inside 3 months from account opening
- Earn limitless 1.5% money again on each buy, daily
- $0 annual charge and no overseas transaction charges
- Earn limitless 5% money again on inns and rental vehicles booked via Capital One Travel, the place you may get Capital One’s greatest costs on hundreds of journey choices. Terms apply
- No rotating classes or sign-ups wanted to earn money rewards; plus, money again will not expire for the lifetime of the account and there is not any restrict to how a lot you may earn
- 0% intro APR on purchases and steadiness transfers for 15 months;19.24% – 29.24% ( variable APR after that; steadiness switch charge applies
Balance switch charge
- 3% for the primary 15 months; 4% at a promotional APR that Capital One could give you at every other time
Who’s this for: The Capital One Quicksilver Cash Rewards Credit Card is a superb match in the event you’re seeking to switch a steadiness and desire a stable return on everyday purchases.
Balance switch supply: You’ll get an intro 0% APR on steadiness transfers for 15 months with the Capital One Quicksilver Credit Card. After the intro-APR supply ends, the usual variable APR of 19.99% to 29.99% applies. There is an intro steadiness switch charge of three% of every switch you full within the first 15 months from account opening. After that, there’s a steadiness switch charge of 4% of the quantity you switch at a promotional APR that Capital One could give you at every other time.
Chase Freedom Flex®
The Chase Freedom Flex® is a wonderful cash-back card for maximizing your spending in quite a lot of classes.
- Long intro APR for purchases and steadiness transfers
- Rewarding quarterly bonus classes
- No annual charge
- Bonus classes are capped every quarter
- Has a overseas transaction charge
Rewards
- 5% money again on as much as $1,500 in mixed purchases in bonus classes every quarter you activate (then 1%)
- 5% money again on journey booked via Chase Travel℠
- 3% on drugstore purchases and on eating (together with takeout and eligible supply companies)
- 1% money again on all different purchases
Balance switch charge
Intro charge of both $5 or 3% of the quantity of every switch, whichever is bigger, on transfers made inside 60 days of account opening. After that, both $5 or 5% of the quantity of every switch, whichever is bigger.
Foreign transaction charge
Who’s this for: The Chase Freedom Flex® gives a excessive return in rotating bonus categories to associate with its intro 0% APR supply.
Balance switch supply: Chase Freedom Flex card holders can switch balances and reap the benefits of an intro 0% APR for 15 months, then a variable 19.74% – 28.49% APR applies. This card’s intro steadiness switch charge is 3% of the quantity you switch ($5 minimal) inside the first 60 days of account opening. Afterward, the steadiness switch charge is 5% of the quantity you switch ($5 minimal).
Find the perfect bank card for you by reviewing gives in our credit card marketplace or get customized gives through CardMatch™.
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More on our high steadiness switch playing cards
Best steadiness switch bank cards comparability
| Credit Card | Balance switch intro APR size | Rewards | Welcome bonus |
|---|---|---|---|
| Wells Fargo Reflect | 21 months | None | No |
| Citi Simplicity | 21 months | None | No |
| Citi Diamond Preferred | 21 months | None | No |
| Discover it® Chrome | 18 months | Yes, money again | Yes |
| Citi Double Cash | 18 months | Yes, money again | Yes |
| U.S. Bank Visa Platinum | 18 months | None | No |
| BankAmericard® bank card | 18 months | None | No |
| Chase Slate Edge℠ | 18 months | None | No |
| Wells Fargo Active Cash® Card | 15 months | Yes, money again | Yes |
| Chase Freedom Unlimited® | 15 months | Yes, money again | Yes |
| Chase Freedom Flex | 15 months | Yes, money again | Yes |
Citi Simplicity® Card
Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card is likely one of the greatest choices if you wish to lower your expenses on bank card curiosity and never pay an annual charge.
Rewards: None
Welcome bonus: None
Annual charge: $0
Notable advantages:
When you pay your month-to-month mobile phone invoice together with your Wells Fargo Reflect card, you may qualify for cell phone insurance. This safety will reimburse you as much as $600 per declare with a $25 deductible. You are restricted to 2 claims per 12 months.
This card’s intro 0% APR for purchases lasts for 21 months with a variable 17.24%, 23.74% or 28.99% APR after that.
Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card gives an extended introductory interest-free interval for qualifying steadiness transfers and purchases, however sadly, does not earn rewards.
Rewards: None
Welcome bonus: None
Annual charge: $0
Notable advantages:
On high of this card’s intro 0% APR for steadiness switch for 21 months, this card additionally gives an intro 0% APR for purchases that lasts for 12 months each with a variable 17.49% – 28.24% APR after that. You have entry to free access to your FICO Scores and entry to particular occasions and experiences out there via Citi Entertainment.
Discover it® Chrome
The Discover it® Chrome is a no-annual-fee cash-back card that may make it easier to pay much less curiosity on bank card debt and new purchases.
Rewards:
- 2% money again at fuel stations and eating places on as much as $1,000 in mixed purchases every quarter, then 1% money again
- 1% money again on all different purchases
Welcome bonus: Discover will match the money again you earn on the finish of your first yr.
Annual charge: $0
Notable advantages:
On new purchases, you may obtain a 0% intro APR for six months, then an 18.49% to 27.49% variable APR applies. However, for eligible steadiness transfers the intro-0%-APR interval lasts for 18 months, after that the identical 18.49% to 27.49% variable APR applies. There’s additionally an intro steadiness switch charge of three% and a steadiness switch charge of as much as 5% on future steadiness transfers. There aren’t any overseas transaction charges.
Citi Double Cash® Card
When it involves no-annual-fee cash-back cards, the Citi Double Cash® Card is likely one of the most rewarding for everyday spending.
Rewards:
- 2% on each buy with limitless 1% money again once you purchase, plus an extra 1% as you pay for these purchases. To earn money again, pay no less than the minimal due on time.
- Plus, a particular journey supply, earn 5% whole money again on lodge, automobile leases and points of interest booked on the Citi Travel℠ portal via 12/31/25.
Welcome bonus: Earn a $200 bonus after spending $1,500 on purchases within the first six months of account opening.
Annual charge: $0
Notable advantages:
This is a cash-back card at its core, however you earn money again as Citi ThankYou® Points, which expands your redemption choices. You can switch Citi ThankYou® Points to a handful of journey companions, together with Choice Hotels, Wyndham Hotels and JetBlue. However, in the event you pair this card with a Citi credit card that permits full transfers, just like the Citi Strata Premier℠ Card (see rates and fees), you may switch your factors to all of Citi’s travel partners at improved ratios.
Chase Slate Edge℠
The Chase Slate Edge℠ is likely one of the best Chase credit cards for serving to you pay much less curiosity and get out of bank card debt sooner.
Rewards: None
Welcome bonus: None
Annual charge: $0
Notable advantages:
You’ll get a 0% intro APR for 18 months on purchases, then a variable 20.49% to 29.24% APR applies. You are eligible for an automated 2% APR reduction after spending no less than $1,000 inside a card anniversary yr and making all of your funds on time. You may also earn an automated one-time evaluation for a higher credit limit after spending no less than $500 throughout your first six months of card membership and making on-time funds throughout the identical interval.
You may also enroll to obtain three free months of DoorDash DashPass membership , then 9 months at 50% off (new enrollees beginning February 1, 2025 will obtain six free months of DashPass) and three free months of Instacart+ membership. Both companies supply no supply charges and decreased service charges on eligible orders.
Chase Freedom Unlimited®
The Chase Freedom Unlimited® is a no-annual-fee card that gives a better-than-average fee of return on all purchases.
Rewards:
On as much as $20,000 spent within the first yr:
- 6.5% money again on journey bought via Chase TravelSM
- 4.5% money again on drugstore purchases and eating at eating places (together with takeout and eligible supply service)
- 3% on all different purchases
After your first yr or $20,000 spent:
- 5% again on journey bought via Chase TravelSM
- 5% again on Lyft rides (via March 2025)
- 3% again at drugstores
- 3% again on dining at eating places (together with takeout and eligible supply companies)
- 1.5% on all different purchases.
Welcome bonus: Earn an extra 1.5% money again on all the things you purchase (on as much as $20,000 spent within the first yr) – value as much as $300 cashback.
Annual charge: $0
Notable advantages:
This card gives an intro 0% APR on purchases for the primary 15 months from account opening, then a variable 19.74% – 28.49% APR applies.
You get three free months of DoorDash DashPass, then 9 months at 50% off. New enrollees beginning February 1, 2025 will obtain six free months of DashPass. You may also enroll to obtain three free months of Instacart+ membership and get $10 in quarterly Instacart credit score via March 31, 2025.
Eligible purchases additionally qualify for extended warranty protection, purchase protection and journey cancellation/interruption insurance coverage.
Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card can be a wonderful cash-back card and has no annual fee.
Rewards:
Welcome bonus: Earn a $200 money rewards bonus after making $500 in purchases within the first three months from account opening.
Annual charge: $0
Notable advantages:
You’ll obtain an 0% intro APR for 12 months from account opening on purchases and qualifying steadiness transfers (after that, a 19.24%, 24.24%, or 29.24% variable APR applies). Balance transfers made inside the first 120 days qualify for an intro switch charge of three% of the quantity transferred, after that, a 5% charge of the quantity you switch applies ($5 minimal).
You can save on mobile phone insurance coverage once you pay your wi-fi cellphone invoice together with your Wells Fargo Active Cash card. With this protection, you may make as much as two claims per yr, and every declare will reimburse you a most of as much as $600 with a $25 deductible.
Discover it® Cash Back
The Discover it® Cash Back is a no annual charge card with a priceless welcome bonus, through which you successfully double the money again you earn within the first yr.
Rewards:
- Earn 5% money again on the primary $1,500 in mixed purchases in rotating quarterly classes once you activate, then 1% money again
- 1% money again on all different purchases
Welcome bonus: Discover will match all of the money again earned for all new card members on the finish of your first yr.
Annual charge: $0
Notable advantages:
The Discover it Cash Back card has no foreign transaction fees, and along with its steadiness switch supply, you may get an intro 0% APR for 15 months on purchases. When the intro APR expires, a variable 18.49% to 27.49% APR applies.
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card is a no annual charge steadiness switch card with a better-than-average return on each buy.
Rewards:
- 5% money again on inns and rental vehicles booked via Capital One Travel
- 1.5% money again on each buy
Welcome bonus: Earn a $200 one-time money bonus after spending $500 inside three months from account opening.
Annual charge: $0
Notable advantages:
On high of the steadiness switch supply, you may additionally obtain a 0% intro APR on purchases for the primary 15 months. After that, a variable 19.99% to 29.99% APR applies.
Through Capital One Dining and Capital One Entertainment, you may get entry to pre-sales and unique occasions and experiences with this card. You’re additionally capable of guide journey via the Capital One Travel website, which gives sure advantages, akin to worth drop safety and a worth match assure.
Chase Freedom Flex®
The Chase Freedom Flex® has a stable intro 0% APR supply and is a superb rewards credit card on high of that.
Rewards:
- 5% money again on as much as $1,500 in mixed purchases in bonus classes every quarter (activation required).
- Earn 5% money again on journey bought via the Chase TravelSM portal
- 5% again on Lyft rides via March 2025
- Earn 3% money again on dining at eating places, together with takeout and eligible supply companies
- Earn 3% money again at drugstores
- Earn 1% money again on all different purchases
Welcome bonus: Earn a $100 bonus after you spend $500 on purchases within the first 3 months from account opening. Plus, earn 5% money again on grocery retailer purchases (excluding Target® and Walmart®) on as much as $12,000 spent within the first yr.
Annual charge: $0
Notable advantages:
You’ll obtain an introductory 0% APR for 15 months on purchases, then a variable 19.74% – 28.49% APR applies. You may also save on supply charges with three free months of DashPass, then 9 months at 50% off (new enrollees beginning February 1, 2025 will obtain six free months of DashPass) and three free months of Instacart+ (enroll by July 31, 2024). After enrollment, you can too obtain as much as $10 in assertion credit every quarter for Instacart purchases via July 31, 2024.
This card additionally has insurance coverage advantages, akin to mobile phone safety, buy safety, prolonged guarantee safety and journey cancellation/interruption protection.
What is a steadiness switch bank card?
A balance transfer credit card helps you to transfer your bank card debt from one card to a different. The greatest steadiness switch playing cards supply limited-time no-interest durations for these transfers. This helps you to save on higher-interest debt for a set period of time, sometimes wherever from six months to 21 months.
Completing a steadiness switch is often pretty straightforward. Sometimes you may even switch a steadiness once you apply for the cardboard. Regardless of once you full a switch, additionally, you will usually pay a steadiness switch charge of three% to five% of the quantity you switch. These charges are essential to think about as a result of they lower into your potential financial savings.
Another tradeoff to concentrate on is that the playing cards with the longest intro-APR durations are inclined to not be as rewarding in comparison with the highest rewards credit cards. So if you would like a card with an exceptionally lengthy intro-APR, you in all probability will not earn as many rewards.
How to make use of a steadiness switch card
Using your card’s steadiness switch supply is pretty simple. You often can decide to switch balances as a part of your utility or switch balances after you have your card. However, there are some things to remember earlier than taking advantage of a balance transfer offer.
Pay consideration to charges
Most, however not all, steadiness switch playing cards cost a steadiness switch charge. It’s often 3% to five% of the quantity you switch. For instance, transferring $5,000 with a 3% charge will value you $150. This charge is charged to the steadiness switch card, fairly than the unique card.
These charges can shortly add up and you must issue on this value when figuring out if it is smart to get a steadiness switch card.
Know the restrictions
Before you apply for a bank card with a steadiness switch supply, there are a couple of limitations which can be essential to know.
The very first thing to know is you can’t make transfers between playing cards from the identical financial institution. For instance, when you’ve got a Chase credit card, you may’t switch debt to a different Chase card. So you may want to use for a card from a unique financial institution than the one you wish to switch debt from.
Also, you’ll have restricted time to finish your transfers. If you wait too lengthy to make a switch, you might miss the 0% APR interval or the intro steadiness switch charge.
You’ll additionally need to concentrate on any limits on the quantity of debt you may switch. Card issuers sometimes cap the quantity you may switch to a proportion of your whole credit score restrict or a selected greenback quantity. Issuers can also issue the steadiness switch charges into this restrict.
See in the event you qualify for the cardboard
Balance switch playing cards often require good or excellent credit. If you could have lower than stellar credit score, it may be troublesome to qualify for a steadiness switch card.
How to decide on a steadiness switch bank card
Using a steadiness switch bank card to consolidate and repay bank card debt is a superb technique to save on interest charges. However, it additionally must be paired with an total technique for paying down your debt.
As you think about what kind of steadiness switch card makes probably the most sense for you, you may wish to do the mathematics to weigh the prices and advantages. Balance switch playing cards can earn rewards and even supply upfront bonuses, however the playing cards with the perfect intro-APR durations, sometimes do not supply rewards. However, the cash you save on curiosity can simply offset any rewards you might miss.
Calculate how a lot you may save
The larger the steadiness you wish to switch and the longer the zero-interest interval, the extra you save. As you have a look at what you may save, it isn’t all the time so simple as your present bank card steadiness and rate of interest.
One caveat to think about is how a lot of your steadiness you might be able to switch to a 0%-APR card. If you could have a considerable amount of bank card debt, an intro-APR supply will be fairly priceless. However, the profit is proscribed by your steadiness switch card’s credit limit and any switch limits imposed by the cardboard issuer.
Know all the prices
Using a steadiness switch supply can prevent cash, nevertheless it’s not free, so you could ensure the advantages outweigh the prices.
Most of the highest steadiness switch playing cards don’t have any annual charge, nevertheless it’s one thing you wish to have a look at earlier than making use of. Assuming the cardboard you are making use of for does not have an annual charge, you wish to take note of the cardboard’s balance transfer fee. These charges usually run 3% to five% of the quantity you switch and may simply add as much as a whole bunch of {dollars} when transferring a major steadiness.
Pros and cons of a steadiness switch card
By benefiting from a steadiness switch you might be able to safe a lower interest rate and lower your expenses, particularly in the event you’re benefiting from a 0% supply. A steadiness switch may also be a great way to consolidate credit card debt right into a single fee. Plus, paying down your bank card can in the end increase your credit score rating, particularly by reducing your credit score utilization fee.
Pros of a steadiness switch card
- You can repay your bank card steadiness extra shortly since you will not pay curiosity in the course of the intro-APR interval
- You might be able to enhance your credit score rating by decreasing your debt and reducing your credit score utilization ratio
Cons of a steadiness switch card
- The majority of steadiness switch bank cards have a steadiness switch charge of three% to five%, which eats into your financial savings
- You sometimes want a better credit score rating to qualify for a steadiness switch card
Alternatives to steadiness switch bank cards
As priceless as steadiness switch bank card gives will be, it isn’t an possibility for everybody. You usually want a high credit score to have the perfect probability of being authorised for these playing cards. Depending on how a lot debt you could have, you might solely be capable to switch a portion of it.
If you are not eligible for a steadiness switch card or opening a bank card is not the fitting possibility for you, listed here are two options to think about:
Debt consolidation mortgage
A debt consolidation loan is an unsecured private mortgage you are taking out to repay your current money owed and roll separate funds right into a single mortgage. Depending in your credit score rating, you might be able to safe a decrease rate of interest. You might additionally go for a mortgage with an extended compensation time period, which might cut back your month-to-month fee and add flexibility to your funds. However, in the event you take out an extended mortgage, you may find yourself paying extra curiosity over the lengthy haul since you’ll pay much less towards the principal every month.
These varieties of loans could make sense in case your credit score rating has been enhancing and also you’re capable of qualify for a greater fee.
Borrow towards your own home fairness
If you personal a house value greater than you owe, you might be able to borrow towards your own home at a decrease rate of interest in comparison with bank cards and unsecured private loans. There are a number of completely different monetary merchandise out there to you in the event you’re on this scenario, together with dwelling fairness loans, home equity lines of credit (HELOC) and cash-out refinance mortgages. With these loans, there are vital upfront prices that may make it a dropping proposition even when your fee is decrease. So make sure to do the mathematics first.
Home fairness loans and HELOCs are each varieties of second mortgages. That means, you retain your authentic mortgage and take out an extra mortgage backed by your own home. This possibility makes most sense in case your present mortgage fee is decrease than the speed you’ll qualify for in the event you took out a mortgage at this time.
With a cash-out refinance, you’re changing your current mortgage with a model new bigger mortgage. If at this time’s mortgage charges are decrease than your present fee, you’ll lock in a greater fee and get money again. With a cash-out refi, you may sometimes borrow as much as 80% of your own home’s worth and there are upfront closing prices that may vary from 2% to six% of the mortgage quantity.
Compare private loans
FAQs
What is the distinction between a cash switch and a steadiness switch?
Money transfers and steadiness transfers should not the identical. A cash switch is once you transfer funds from one account to a different, both on the similar financial institution or between accounts at completely different monetary establishments. A steadiness switch is once you transfer debt from one bank card to a different.
Do banks do steadiness transfers?
Banks solely permit steadiness transfers between bank card accounts. And banks won’t help you switch balances between two playing cards issued by the identical financial institution. If you wish to do a steadiness switch, you may have to open a new credit card with a unique card issuer.
Do steadiness transfers all the time work?
Whether a steadiness switch works out will depend on your goal. If you wish to pay much less curiosity and pay off your debt faster, that can have to be your focus in the course of the promotional APR interval. But in the event you proceed to develop your bank card steadiness, then the steadiness switch could not have helped your scenario as a lot because it might have.
Do steadiness transfers damage your credit score?
Is it value getting a steadiness switch?
Balance transfers are good options for consolidating bank card debt. However, make sure to calculate how a lot it would value to switch the steadiness versus how a lot in curiosity charges you may accrue by merely paying down the steadiness in your present bank card.
How do you qualify for a steadiness switch?
Balance switch bank cards are sometimes for customers with good to glorious credit scores. If you are authorised for a steadiness switch supply, you may wish to reap the benefits of it shortly as they’re limited-time gives.
Why belief CNBC Select?
At CNBC Select, our mission is to offer our readers with high-quality service journalism and complete shopper recommendation to allow them to make knowledgeable choices with their cash. Every bank card evaluation is predicated on rigorous reporting by our group of skilled writers and editors with in depth data of bank card merchandise. While CNBC Select earns a fee from affiliate companions on many gives and hyperlinks, we create all our content material with out enter from our industrial group or any outdoors third events, and we pleasure ourselves on our journalistic requirements and ethics. See our methodology for extra info on how we select the perfect steadiness switch bank cards.
Our methodology
To decide which playing cards have the perfect worth for 0%-APR gives, CNBC Select analyzed over 250 main bank cards issued via FDIC-insured banks and NCUA-insured credit score unions which can be extensively out there within the U.S.
We in contrast every card on a variety of options, together with rewards (e.g., money again, factors and miles), annual charges, welcome bonuses, introductory and normal APR and steadiness switch charges and overseas transaction charges. We additionally thought-about extra perks (e.g., ongoing journey or service provider assertion credit), cardholder protections (e.g., buy safety, $0 legal responsibility safety and journey insurance coverage), the appliance course of when out there (e.g., is there a credit score pull or required credit score rating) and the way straightforward it’s to redeem factors (e.g., are rewards are tied to a selected model; if transferable, to what number of/which companions, are you able to redeem for straight money again).
We additionally thought-about CNBC Select viewers information when out there, akin to common demographics and engagement with our content material and instruments.
For the playing cards that supplied a rewards program, we thought-about shopper spending information forecasts from location intelligence agency Esri to find out the place U.S. customers are spending probably the most cash, like on eating and journey. We used this to assist decide what bonus classes are most helpful for customers. Since the worth of a degree or mile varies primarily based on what they are often redeemed for, we additionally thought-about issues like transferability and the power to redeem for cash-back.
When selecting the perfect 0%-intro-APR bank cards, we centered on playing cards that supply longer intro-APR durations. We additionally positioned a particular emphasis on steadiness switch charges and whether or not the playing cards supplied intro APRs for purchases, steadiness transfers or each.
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