Have you accumulated a lot of debt on a high interest rate credit card? Moving your debt to an introductory 0% APR credit card using a balance transfer can save you a lot of money and headaches. Doing so can also help you get out of debt faster and march towards financial independence. Today we are ranking the latest offerings in this best balance transfer credit cards review to help you find a great card and save.
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Disclosure: Financial Samurai has partnered with CardRatings for our coverage of credit card products. Financial Samurai and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Benefits: 0% Intro APR Cards For Balance Transfers
Here are some important benefits and things to note when making a balance transfer to a new 0% intro APR credit card.
- Simplify your debt. If you have multiple high interest rate credit cards, you can consolidate all of that debt onto one new card. Not only will you save money by taking advantage of 0% introductory APRs, you’ll only have one credit card bill to pay off and track
- Access great rewards. There are many popular, highly rated credit cards that offer 0% intro APRs on balance transfers alongside excellent cash back rewards programs. The Chase Freedom Unlimited credit card is our favorite.
- Get debt free faster. In order to achieve financial independence and a comfortable retirement, you have to build savings, invest, and get debt free. Reducing interest payments through a balance transfer can help you pay off your debt faster.
- Calculate the balance transfer fee. Make sure not to overlook a credit card’s balance transfer fee terms. This fee is usually due upfront and is calculated based on how much you transfer over.
- Take note of the 0% APR rate period. Be sure to pay off your balance transfer amount before the 0% introductory APR period is over. Otherwise, you could end up owing more money overall.
Top 3 Best Balance Transfer Credit Cards Review
Chase Freedom Unlimited Credit Card
If you’re looking for a 0% intro APR for balance transfers credit card paired with flexible cash back rewards and a lot of other perks, this is it. The Chase Freedom Unlimited credit card also offers a 15 month intro 0% APR on new purchases plus an enticing 3% cash back rate for the first year for up to $600 in cash back rewards. I’ve been a client of Chase for over 10 years and the Freedom Unlimited card is my top choice in this best balance transfer credit cards review. Here are the card’s best features:
Key Benefits
- 0% introductory APR on balance transfers for 15 months
- Balance transfer fee = 3%
- 0% introductory APR on purchases for 15 months as well!
- Earn 3% cash back on every purchase the first year ($20,000 cap)
- Get unlimited 1.5% cash back for year 2 and beyond
- No annual fee
- Redeem cash back with no minimums
Read more and learn how to apply
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver credit card offers flat rate cash back rewards and is our top choice for 0% intro APR balance transfers and cash back. It’s a straightforward, reliable credit card with strong rewards. Cardholders earn 1.5% cash back on all purchases without any spending caps. This is also my favorite cash back credit card for personal use.
Key Benefits
- 0% introductory APR on balance transfers for 15 months
- Balance transfer fee = 3%
- No annual fee
- 1.5% cash back on every purchase
- Rewards are unlimited, ie no spending caps
- Get a $150 cash bonus reward if you spend $500 in the first 3 months
- Zero foreign transaction fees
Read more and learn how to apply
Wells Fargo Cash Wise Visa Credit Card
Another excellent choice for an introductory 0% APR on balance transfers is the Wells Fargo Cash Wise Visa credit card. This card also comes with an intro 0% APR on new purchases for 15 months. I’m a client of Wells Fargo and feel this card is a perfect fit for this best balance transfer credit cards review. Here are the card perks:
Key Benefits
- 0% introductory APR on balance transfers for 15 months
- Balance transfer fee = 3% for 120 days, then 5%
- 0% introductory APR on purchases for 15 months as well!
- Get a $150 cash bonus reward if you spend $500 in the first 3 months
- 1.5% cash back on every purchase
- Rewards are unlimited, ie no spending caps
- 1.8% cash back on select digital wallet purchases for the first 12 months (ex. Apple pay, Google pay)
- No annual fee
Read more and learn how to apply
About the Author: Sam worked in investing banking for 13 years at Goldman Sachs and Credit Suisse. He received his undergraduate degree in Economics from The College of William & Mary and got his MBA from UC Berkeley. In 2012, Sam was able to retire at the age of 34 largely due to his investments that now generate roughly $250,000 a year in passive income. His main passive income focus is on real estate crowdfunding to take advantage of cheaper valuations and higher cap rates in the heartland. He spends time playing tennis and taking care of his family.
Financial Samurai was started in 2009 and is one of the most trusted personal finance sites on the web with over 1.5 million pageviews a month.
Disclosure: Financial Samurai has partnered with CardRatings for our coverage of credit card products. Financial Samurai and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
