Best Balance Transfer Credit Cards of October 2020

If you’re carrying a balance on a high interest credit card, it’s time to switch cards and save money.

A balance transfer lets you move high-interest debt from one credit card to another with a much lower interest rate – often 0% for a year or longer. Transferring a balance to one of these top cards could save you hundreds or even thousands in interest payments, which could help you get out of debt sooner. 

Compare these cards and discover which one is best for you.

U.S. Bank Altitude® Go Visa Signature® Card

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on U.S. Bank's secure site

 

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Intro Purchase APR: The U.S. Bank Altitude® Go Visa Signature® Card offers 0% for 12 billing cycles on purchases*, and then 14.99% - 23.99%* (Variable) rate after the intro period.

Intro Balance Transfer APR: 0% introductory APR for the first 12 billing cycles for balances transferred within 60 days from account opening and a 14.99% - 23.99%* (Variable) rate after that intro period.

Rewards: This card really stands out when it comes to rewards. Earn 4X points on dining, takeout and food delivery, 2X points at grocery stores, grocery delivery, streaming services and gas stations, and 1X points on all other eligible purchases.

Extra Perks: Enjoy a very compelling sign-up bonus on top of this card’s ongoing rewards. Earn 25,000 bonus points when you spend $1,000 in eligible purchases within the first 90 days of account opening.

Annual Fee: $0

Mastercard® Titanium Card™

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on Barclays's secure site

 

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Intro purchase APR: 14.99%, then after that, (and for balance transfers that do not post within 45 days of account opening) your APR will be 14.99%. This APR will vary with the market based on the Prime Rate.


Intro balance transfer APR: 0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening. After that, (and for balance transfers that do not post within 45 days of account opening) your APR will be 14.99%. This APR will vary with the market based on the Prime Rate.


Rewards: 2% value for airfare redemptions with no blackout dates or seat restrictions. 1% value for cash back redemptions. Earn one point for every one dollar spent..


Extra Perks: Cell Phone Protection, Lyft credits, Fandango perks and more.


Annual Fee: $195 ($95 for each Authorized User added to the account)


Mastercard® Black Card™

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on Barclays's secure site

 

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Intro purchase APR: 14.99%, then after that, (and for balance transfers that do not post within 45 days of account opening) your APR will be 14.99%. This APR will vary with the market based on the Prime Rate.


Intro balance transfer APR: 0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening. After that, (and for balance transfers that do not post within 45 days of account opening) your APR will be 14.99%. This APR will vary with the market based on the Prime Rate.


Rewards: 2% value for airfare redemptions with no blackout dates or seat restrictions. 1.5% value for cash back redemptions. Earn one point for every one dollar spent..


Extra Perks: Cell Phone Protection, Lyft credits, Fandango perks and more.


Annual Fee: $495 ($195 for each Authorized User added to the account)

Mastercard® Gold Card™

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on Barclays's secure site

 

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4.0/5.0 from 1 Offer Rating
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Intro purchase APR: 14.99%, then after that, (and for balance transfers that do not post within 45 days of account opening) your APR will be 14.99%. This APR will vary with the market based on the Prime Rate.


Intro balance transfer APR: 0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening. After that, (and for balance transfers that do not post within 45 days of account opening) your APR will be 14.99%. This APR will vary with the market based on the Prime Rate.


Rewards: 2% value for airfare redemptions with no blackout dates or seat restrictions. 2% value for cash back redemptions. Earn one point for every one dollar spent..


Extra Perks: Cell Phone Protection, Lyft credits, Fandango perks and more.


Annual Fee: $995 ($295 for each Authorized User added to the account)

Balance Transfer Basics

Balance transfer credit cards are a smart choice to help you get out of debt. The 0% interest means every penny of your payment will go to paying down debt during the promo period.

  Current Credit Card New Balance Transfer Card
Debt $5,551* $5,551*
Interest Rate 17% APR 0% intro APR for 15 months

That gives you 15 months to chip away at your balance with no interest payments piling up. If you pay $370.07 per month during the 15-month promotional APR period you would save an incredible $1,551.65 in interest and pay off your balance in full.

If you are looking for a longer 0% intro APR offer, you may want to learn more about the Citi® Diamond Preferred® Credit Card, which offers 0% intro APR for 18 months on balance transfers and then the variable APR will be 14.74% - 24.74%, based on your creditworthiness.

*Consumers have an average credit card balance of $5,551 according to Experian’s 2016 State of Credit report.

 

 

How to Apply

It is a quick and easy application process. Click Apply Now to fill out the application on the issuer’s secure site. You may be able to find out within minutes if your application is approved. Get started now!

 

Methodology

Each month, the CompareCards team reviews over 100 credit card offers examining the features most valuable to consumers including rewards, sign-up bonus, the interest rate, fees and other features to identify the best offers shown here.

*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.