- Best Balance Transfer Credit Cards for 2017
Transfer your balance to a card with 0% interest, and get more time to pay.
Carrying a credit card balance can have a significant impact on your finances. While most consumers focus on APR (annual percentage rate), credit card interest actually accrues daily. Additionally, carrying a balance monthly affects your credit utilization, a percentage of the credit you’re using versus your total credit limit across accounts. High credit utilization will damage your credit score, which can mean you’ll have to pay higher interest rates on future loans, adding to your cumulative debt. But don’t get discouraged! With a budget, a payoff plan, and the right tools, you can start working toward becoming debt-free today.
Balance transfer credit cards are one such tool. They offer extended 0% intro APR to cut interest out of your monthly payment and help you pay off your balance sooner. With a balance transfer card, your entire payment will be applied to your balance.
The Discover it® 18 Month Balance Transfer Offer is our top balance transfer card for 2017.
Its 18-month intro APR period is the most generous on our list, giving you the longest time to pay off your balance interest-free. It also offers a strong rewards program, with 5% cash back in rotating categories, 1% on all other purchases, and a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year. As a Discover cardmember, you’ll also get your FICO® Credit Score for free for easy credit monitoring.
- You could turn $200 into $400 with Cashback Match™.
- Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
- Earn 5% cash back in rotating categories each quarter like gas stations, Amazon.com, restaurants, wholesale clubs and more, up to the quarterly maximum each time you activate.
- Plus, 1% cash back on all other purchases. Redeem your cashback for any amount, anytime.
- Cash rewards never expire.
- 100% U.S. based customer service.
- Get your FICO® Credit Score for free on monthly statements, on mobile and online.
- No annual fee.
Best for Large Balances:
Looking to transfer a large balance? We recommend the Chase Slate®.
While it doesn’t include a rewards program, it offers $0 balance transfer fees. Most balance transfer cards charge a 3-5% fee per transfer. If you need to transfer a large balance or multiple balances to consolidate your debt, the Chase Slate®’s $0 balance transfer fees could make a big difference.
Great Signup Bonus:
April 1 – June 30, 2017
Earn 5% cash back on up to $1,500 in combined purchases at grocery stores (not including Walmart® and Target® purchases) and drugstores.
The Chase Freedom® is a popular option for both cash back and balance transfer credit cards. It pairs 0% intro APR with a lucrative rewards program and a $150 bonus. The bonus is easy to earn, too: just spend $500 in your first three months. (We recommend putting your signup bonus — and any cash back you earn with the card — toward your balance to pay off what you owe even faster.)
With the Chase Freedom®,
- you’ll earn 5% cash back in bonus categories each quarter you activate,
- plus unlimited 1% on all other purchases. From now through June 2017, the 5% category includes grocery stores (not including Walmart and Target) and drugstores.
- So in addition to paying down your balance interest-free, you can earn rewards on purchases you’re making already. The Chase Freedom®’s crowd-pleasing cash back program makes it a smart choice for balance transfers and beyond. Use it to tackle your existing debt, then hang onto it after your balance is paid off for long-term rewards potential.
Best Rewards for Everyday Purchases:
Blue Cash Everyday® Card from American Express
Like our previous pick, the Blue Cash Everyday® Card from American Express is a strong balance transfer option that doubles as a cash back card. Its rewards structure is perfect for maximizing rewards on everyday purchases. And its $100 signup bonus is easily attainable: just spend $1,000 in your first three months.
With this card, you’ll earn 3% cash back at U.S. supermarkets (up to $6,000 per year, then 1%). You’ll also get 2% cash back at U.S. gas stations and select department stores — and 1% on everything else. That’s impressive rewards potential for a flat-rate cash back card; many offer lower rates or charge an annual fee for the privilege. But not the Blue Cash Everyday® Card from American Express. Plus, the rewards you earn with this card are redeemable for a statement credit, so you can apply them toward your balance!