The Fastest Way To Pay Off $5,000 In Credit Card Debt

What’s the best way to pay down a credit card balance as quickly as possible? Get a new balance transfer card with long 0% intro APR on balance transfers that earns you valuable cash rewards.

Stop Interest Charges Now 

You can immediately stop new high interest credit card charges from piling onto your monthly statement. Transfer your debt to a new card with a 0% intro APR offer on balance transfers. Then, every penny of your payment will go toward paying your debt for the promotional APR period, which can last up to 18 months.

Pay Off Your Debt Faster

Here’s how these valuable cards work. If you transfer a $5,000 balance onto a card that offers 15 months of 0% intro APR with a 3% balance transfer fee and pay $344 per month plus earn cash-back on everyday essentials*, you could pay down your debt faster. 

credit card balance transfer graph
credit card balance transfer graph
Pay off debt faster by:

4 months

Interest Savings:

$773.59

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We’ve done the research. These are the best balance transfer cards with rewards. These cards give you long 0% introductory interest on balance transfers and generous cash back rewards or points. Compare the length of the 0% intro interest period, balance transfer fees and rewards levels to choose the best match for you. 

Discover it® chrome

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on Discover's secure site

 

Rated 4/5 stars by our editorial team

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3.9/5.0 from 518 Offer Ratings
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Key features: The Discover it® chrome credit card comes with everything you wish all credit cards came with – no annual fee, no foreign transaction fees, no overlimit fee, and a free pass the first time you miss a payment! Cardholders also get an intro APR of 0% intro for 14 months on both purchases and balance transfers, then 11.99% - 22.99% Variable. If you misplace your credit card, freeze your account in seconds with an on/off switch on the mobile app and website. No late fee on first late payment. No foreign transaction fees. Free FICO® Credit Score. $0 Fraud Liability. Redeem your rewards for cash in any amount, at any time and your cash back never expires. That means extra cash in your pocket to spend any way you want. Plus, Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. The list of features seems endless on this Discover card.

Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*


Annual fee: $0

Mastercard® Titanium Card™

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on Barclays's secure site

 

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3.7/5.0 from 69 Offer Ratings
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Key Features: This hefty stainless steel card is brimming with benefits including 24/7 Luxury card concierge service and features like complimentary food and beverages, room upgrades, resort or spa credits and welcome amenities at properties in the Luxury Card Travel program. Cardholders also get cell phone protection, Lyft credits, Postmates discounts and Fandango perks. If you have high interest debt, take advantage of the lengthy 0% intro APR on balance transfers. This card offers 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. Not all travel cards offer 0% intro APR on balance transfers, so this is a welcome feature for anyone carrying a balance month to month. Cardholders earn one 1 point for every one dollar spent. Redeem for 2% value for airfare redemptions and 1% value for cash back redemptions. Enjoy flexible redemption for travel on any airline with no blackout dates. The real value in the Luxury cards are the massive array of benefits and features that come along with the high status Luxury cards. There are no foreign transaction fees, which will save you up to 3% when you travel abroad.


Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater.


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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3.8/5.0 from 41 Offer Ratings
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Key Features: This black stainless steel and carbon metal card carries status and is teeming with over the top luxury benefits. Card holders get complimentary VIP airport lounge access with Priority Pass, 24/7 Luxury Card concierge service and exclusive travel benefits like complimentary food and beverages, room upgrades, resort or spa credits and welcome amenities at properties in the Luxury Card Travel program. Cardholders also get cell phone protection, Lyft credits, Postmates discounts and Fandango perks. Cardholders earn one 1 point for every one dollar spent. Get a 2% value for airfare redemptions and 1.5% value for cash back redemptions. This card offers 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. Not all premium cards offer 0% intro APR on balance transfers, so this is a welcome feature for anyone who wants to transfer a balance and save money on interest payments. There are no foreign transaction fees, which will save you up to 3% when you travel abroad. There is a $495 ($195 for each Authorized User added to the account). That is offset by the valuable $100 annual airline credit and $100 Global Entry and TSA Pre-Check application fee credit and the airport lounge membership.


Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater.


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

Start Your Journey to Become Debt Free Now

Credit card offers change frequently. There’s no telling how long these remarkable offers will last. Apply now and start your journey toward becoming debt free today!

 

*How we calculated cash-back on every day essentials on a card that offers unlimited 1.5% cash back and a $150 sign-up bonus: Monthly spend: Groceries $400, Gas $100, Cell phone bill $75, Utilities $100 totals $675/month.  When you buy items worth $675/month on a card with a 1.5% unlimited cash back you earn $151.80 in cash back over 15 months, (combined with a $150 first-year sign-up bonus) your first-year cash-back totals $301.80. 

*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.