Best Balance Transfer Credit Cards Review

best balance transfer credit cards review

This article will review the best balance transfer credit cards on the market in the new decade. A balance transfer credit card helps you better manage debt.

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.

Financial Samurai is one of the most popular personal finance blog today. The site was stated in 2009 and is one of the most trusted independently owned websites online.

Our product reviews are easy to read, informative, and designed to help you make well informed financial decisions for financial success. Let’s get started on reviewing the best balance transfer credit cards.

Benefits Of Owning A Best Balance Transfer Credit Card

Here are some important benefits and things to note when making a balance transfer to a new 0% intro APR credit card. Credit card debt is one of the worst types of debt to pay. So please pay off your credit card balance each month.

  1. 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
  2. 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.
  3. 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.
  4. 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.
  5. 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.

Best Balance Transfer Credit Cards Review

Chase Freedom Unlimited Credit Card

If you’re looking for a 0% intro APR for purchases paired with flexible cash back rewards and a lot of other perks, this is it.

The Chase Freedom Unlimited credit card offers a 15 month intro 0% APR on new purchases plus a generous unlimited 1.5% cash back on all purchases. You can also earn a $200 bonus after you spend $500 in the first three months after opening an account.

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. I use this card practically every day and have earned thousands of dollars in rewards and cash back.

Here are the Chase Freedom Unlimited credit card's best features:

Key Benefits

  • Great cash back percentage: Earn unlimited 1.5% cash back on all purchases
  • Annual fee: $0
  • Sign up bonus: Get a $200 bonus after you spend $500 in the first 3 months
  • Bonus cash back categories
  • 5% cash back on travel purchased in the Chase Ultimate Rewards® portal
  • 3% cash back dining at restaurants and eligible delivery/takeout 
  • 3% cash back on eligible drugstore purchases.
  • Rewards expiration: None as long as your account is open.
  • 0% APR for the first 15 months
  • Credit score needed: good to excellent 
  • No minimums to redeem for cash back
Chase Freedom Unlimited

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card offers flat rate cash back rewards.

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

  • Credit Score Needed: Good to Excellent
  • Welcome Bonus: $200 cash bonus after spending $500 on purchases within three months
  • Rewards Rate: Flat-rate 1.5% cash back on all purchases
  • No foreign transaction fees
  • Annual Fee: $0
  • Introductory 0% APR for the first 15 months
CapitalOne Quicksilver Cash Rewards Credit Card

Pay off Your Debt Faster With A Personal Loan

If you don’t have enough cash, getting a personal loan from Credible is a good place to start. If you have expensive credit card debt, consider consolidating your debt into a lower interest-rate personal loan.

Credible has the most comprehensive marketplace for personal loans. Lenders compete for your business so you can get the best rate. Get personalized prequalified personal loan rates in just two minutes after you fill out an application.

Compare personal loan rates so you can get the lowest personal loan rate possible with Credible.

Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.

About the Author

Sam worked in investment 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 $350,000 a year in passive income.

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Disclosure: Credible Operations, Inc. NMLS# 1681276, “Credible.” Not available in all states.

Disclosure: Credit card terms and features are subject to change.