Top 5 Credit Cards Offering Zero-Interest Balance Transfers
Discover the top five credit cards that offer free balance transfers with long 0% APR periods, ideal for reducing interest costs and paying off debts faster. These cards feature no transfer fees, cashback rewards, and valuable perks, making debt management easier and more affordable. Before transferring balances, review each card's conditions to ensure it matches your financial needs. The guide includes options from major providers like Barclaycard, Wells Fargo, American Express, Capital One, and Discover, helping you choose the best deal for your debt payoff strategy.
Top 5 Credit Cards Offering Zero-Interest Balance Transfers
Transferring your credit card debt to another card can help reduce interest payments and accelerate payoff plans. The main benefit of balance transfer offers is usually a lower interest rate, often accompanied by a promotional period with no interest. However, some cards charge a transfer fee. To maximize savings, look for cards that provide free balance transfers and long 0% APR periods. Here are five popular options that fit those criteria:
- Barclaycard Ring MasterCard: Known for no transfer fee, no annual fee, and no foreign transaction fees, it offers a 15-month 0% introductory APR, making it an excellent choice for paying down debt without additional costs.
- Wells Fargo Platinum Visa: With no annual or transfer fees, this card provides up to 15 months of 0% APR on purchases and transfers. Plus, it includes a $600 mobile protection benefit when you pay your phone bills with this card monthly.
- American Express EveryDay Preferred: This card features no balance transfer fee, 0% APR for up to a year, and rewarding points for shopping at supermarkets, gas stations, and other categories. New cardholders can earn 15,000 points after spending $1,000 within three months.
- Capital One Quicksilver Cash Rewards: Offering no transfer or annual fees, this card provides a 9-month 0% APR on transfers and purchases, plus unlimited 1.5% cash back on every transaction. It also includes a $100 sign-up bonus for spending $500 in the first three months.
- Discover It: Ideal for large balances with an 18-month 0% APR period, this card has no annual fee, cashback rewards, and doubles your earned cash back after the first year. It also provides free FICO score access and no foreign transaction fees.
When choosing a balance transfer card, ensure you understand which debts can be transferred. Most cards accept credit card debts from Visa, MasterCard, Discover, and American Express, while some allow transfers of other types, like personal debts. Note that transfers can take about a week, so continue making minimum payments on your existing debts during this period. Consult the card’s terms for specific restrictions on transferable debt types, such as secured or unsecured loans, auto loans, or student loans.
