Best Balance Transfer Cards Good Credit

The Best Balance Transfer Credit Cards for 2021

Hello friends, if you’re carrying a balance on your credit card, you’re probably paying a high interest rate. One solution that can help you save money is a balance transfer credit card. With a balance transfer credit card, you can transfer the balance from your high-interest credit card to a new card with a lower interest rate. This can save you money and help you pay off your debt faster.

What is a Balance Transfer Credit Card?

A balance transfer credit card is a card that allows you to transfer the balance from one or more credit cards to a new card. The new card usually has a low or 0% interest rate for a limited time, which can help you save money on interest payments and pay off your debt faster. You can transfer balances from multiple credit cards to a single balance transfer card, which can simplify your payments and make it easier to keep track of your debt.

How to Choose the Best Balance Transfer Credit Card?

When choosing a balance transfer credit card, there are several factors to consider:

  1. Introductory APR: Look for a card with a 0% intro APR on balance transfers for at least 12 months.
  2. Balance transfer fee: Look for a card with a low or no balance transfer fee.
  3. Ongoing APR: Make sure the ongoing APR is low enough to make the card worth keeping after the introductory period ends.
  4. Rewards: Look for a card that offers rewards or cashback on purchases.
  5. Credit score: Make sure you have a good credit score to qualify for the card.

The Top 5 Best Balance Transfer Credit Cards for 2021

Card Introductory APR Balance Transfer Fee Ongoing APR Rewards
Chase Freedom Unlimited 0% for 15 months $5 or 3% of the transfer 14.99%-23.74% 1.5% cashback on all purchases
Citi Simplicity 0% for 18 months $5 or 5% of the transfer 14.74%-24.74% N/A
Discover it 0% for 14 months $5 or 3% of the transfer 11.99%-22.99% 5% cashback on rotating categories and 1% cashback on all other purchases
Wells Fargo Platinum Card 0% for 18 months $5 or 3% of the transfer 16.49%-24.49% N/A
Capital One Quicksilver 0% for 15 months $0 15.49%-25.49% 1.5% cashback on all purchases

1. Chase Freedom Unlimited

The Chase Freedom Unlimited is a great balance transfer credit card for those who want to earn rewards on their purchases. The card offers a 0% introductory APR on balance transfers for 15 months and a low balance transfer fee of $5 or 3% of the transfer, whichever is greater. After the introductory period, the APR is 14.99%-23.74%, depending on your creditworthiness. The card also offers unlimited 1.5% cashback on all purchases, which can help you save money on everyday expenses.

Pros:

  • 0% introductory APR on balance transfers for 15 months
  • Low balance transfer fee of $5 or 3% of the transfer
  • Unlimited 1.5% cashback on all purchases

Cons:

  • High ongoing APR if you have a low credit score

2. Citi Simplicity

The Citi Simplicity card offers a 0% introductory APR on balance transfers for 18 months, which is one of the longest introductory periods available. The card does have a higher balance transfer fee of $5 or 5% of the transfer, whichever is greater. After the introductory period, the APR is 14.74%-24.74%. The card doesn’t offer rewards or cashback on purchases, but it does have no late fees, no penalty APR, and no annual fee, which can make it an attractive option for those who want a simple, no-frills card.

Pros:

  • 0% introductory APR on balance transfers for 18 months
  • No late fees, no penalty APR, and no annual fee

Cons:

  • Higher balance transfer fee of $5 or 5% of the transfer
  • No rewards or cashback on purchases

3. Discover it

The Discover it card offers a 0% introductory APR on balance transfers for 14 months and a low balance transfer fee of $5 or 3% of the transfer, whichever is greater. After the introductory period, the APR is 11.99%-22.99%, depending on your creditworthiness. The card also offers 5% cashback on rotating categories and 1% cashback on all other purchases. The rotating categories change every quarter and can include things like gas stations, grocery stores, and restaurants. The card also has no annual fee and no foreign transaction fees.

Pros:

  • 0% introductory APR on balance transfers for 14 months
  • Low balance transfer fee of $5 or 3% of the transfer
  • 5% cashback on rotating categories

Cons:

  • The rotating categories can be unpredictable
  • The higher APR if you have a low credit score

4. Wells Fargo Platinum Card

The Wells Fargo Platinum Card offers a 0% introductory APR on balance transfers for 18 months, which is one of the longest introductory periods available. The card has a low balance transfer fee of $5 or 3% of the transfer, whichever is greater. After the introductory period, the APR is 16.49%-24.49%, depending on your creditworthiness. The card doesn’t offer rewards or cashback on purchases, but it does come with cell phone protection when you pay your monthly cell phone bill with the card.

Pros:

  • 0% introductory APR on balance transfers for 18 months
  • Low balance transfer fee of $5 or 3% of the transfer
  • Cell phone protection

Cons:

  • No rewards or cashback on purchases
  • The higher APR if you have a low credit score

5. Capital One Quicksilver

The Capital One Quicksilver card offers a 0% introductory APR on balance transfers for 15 months and has no balance transfer fee. After the introductory period, the APR is 15.49%-25.49%, depending on your creditworthiness. The card also offers 1.5% cashback on all purchases, which can help you save money on everyday expenses. The card has no annual fee and no foreign transaction fees.

Pros:

  • 0% introductory APR on balance transfers for 15 months
  • No balance transfer fee
  • 1.5% cashback on all purchases

Cons:

  • The higher APR if you have a low credit score
  • No rewards for signing up for the card

Conclusion

Choosing the best balance transfer credit card for you depends on several factors. Look for a card with a long introductory APR, a low balance transfer fee, a low ongoing APR, and rewards or cashback on purchases. Also, make sure you have a good credit score to qualify for the card. The top 5 balance transfer credit cards for 2021 are the Chase Freedom Unlimited, Citi Simplicity, Discover it, Wells Fargo Platinum Card, and Capital One Quicksilver. Consider which one fits your needs and apply today.

Thanks for reading, and we hope this article helps you find the best balance transfer credit card for your needs. See you in the next article!

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