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

*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.

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

Apply Now

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. 

Capital One® Quicksilver® Cash Rewards Credit Card

Apply Now
 

Rated 4.5/5 stars by our editorial team

Click the stars to submit your rating.

Thanks for rating!

Your Rating:

3.7/5.0 from 2,816 Offer Ratings
Over the Past 60 Days!

(2,816) Over the Past 60 Days!
Show Details

Key features: This cash-back card offers 0% intro on balance transfers for 15 months. Plus, make new purchases worry free with 0% intro on purchases for 15 months. You earn cash in two ways when you use this card. First, earn a one-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening. Second, you'll take home an unlimited 1.5% cash back on every purchase, every day. No headaches remembering rotating bonus categories, you will earn cash on everything you buy.


Balance transfer fee: 3%


Annual fee: $0

Discover it® Balance Transfer

Apply Now
 

Rated 4.5/5 stars by our editorial team

Click the stars to submit your rating.

Thanks for rating!

Your Rating:

3.8/5.0 from 813 Offer Ratings
Over the Past 60 Days!

(813) Over the Past 60 Days!
Show Details

Key features: It’s not how you start. It’s how you finish. The Discover it® Balance Transfer gives you one of the longest 0% interest periods available to pay down debt.


Get the ball rolling with intro interest 0% for 18 months on balance transfers. Take up to a year and a half to pay down your balance with no new interest charges piling up. Even when you are tackling debt, you still need to buy gas, groceries and shop at wholesale clubs. Use the cash-back rewards from this card to pay down your debt faster.


Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically. At the end of your first year, you’ll get a welcome cash bonus from this card to help you down the homestretch. Discover will automatically match all the cash back you earn at the end of your first year.* That means, if you earn $200 in cash back in your first year, Discover will match it, making your total cash back for the year $400! Don’t let debt knock you down. This game changing card gives you all the tools you need to beat the clock on high interest charges.


Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. That equals $150 on a $5,000 balance transfer. You could earn much more in cash back rewards, plus save hundreds in dollars in high interest charges with this balance transfer winner.


Annual fee: $0

Chase Freedom Unlimited®

Apply Now
 

Rated 4/5 stars by our editorial team

Click the stars to submit your rating.

Thanks for rating!

Your Rating:

3.9/5.0 from 428 Offer Ratings

(428)
Show Details

Key features: This balance transfer card comes with a generous on-going cash-back rewards. The Chase Freedom Unlimited® comes with a long 0% Intro APR for 15 months on balance transfers. Plus, you get flexibility with 0% Intro APR for 15 months on purchases. The standout features are the rich cash rewards.


Earn: 1.5% cash back offer..


Balance transfer fee: 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5, then either $5 or 5% of the amount of each transfer, whichever is greater.


Annual fee: $0

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

Apply Now Call To Apply
 

Rated 5/5 stars by our editorial team

Click the stars to submit your rating.

Thanks for rating!

Your Rating:

4.4/5.0 from 503 Offer Ratings
Over the Past 60 Days!

(503) Over the Past 60 Days!
Show Details

Key features: Drive away with long 0% interest with the Bank of America® Cash Rewards credit card in your wallet. This card offers a sparkling combination of a big cash sign-up bonus, 0% interest, and generous cash-back on things you buy every day.


Hit the brakes on high-interest charges now. This card offers 0% Introductory APR on purchases for 15 billing cycles and 15.49% - 25.49% Variable APR after that. You could save hundreds of dollars in interest with this card.


Enjoy a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. This groundbreaking offer lets you choose how you earn 3% cash back! Choose from gas, online shopping, dining, travel, drug stores and home improvement and furnishings. Earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases


Balance transfer fee: Either $10 or 3% of the amount of each transaction, whichever is greater.


Annual fee: It’s hard to believe this fully loaded card comes with $0 annual fee.

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. 

Share your experiences, tips and tricks with us!

Let others learn from your experience. Ask questions. Share your thoughts and opinions about credit cards.

There is nothing we value more than the opinions of our customers. We encourage open discussions among all users and hope we can all share advice. Please keep our site clean and safe by following our posting guidelines and please, don’t disclose personal information like your credit card numbers or account information.

Community Conversation

Thank you. Your comment has been submitted and is pending editorial review.
card loader

Sort by:

Picture of Phyl Andrijeski

By: | Aug 4, 2018

My priorities are saving money on gas for the car and groceries for my family and for the pantry. Do you have what I need?

1 Reply

By: CompareCards | Aug 9, 2018

Many cards offer excellent cash back at locations such as supermarkets and gas stations.The Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer as well as the Blue Cash Everyday® Card from American Express are both excellent cards to help you earn cash back at these places!

Picture of Elsie Boisvert

By: | Jul 17, 2018

love discover and bank of america

Picture of Sally Palmer Borden

By: | May 22, 2018

I'm going on vacation to Bermuda. Which card is best to use in the Bermuda?

1 Reply

By: CompareCards | May 24, 2018

Great cards for traveling abroad are the Capital One® Venture® Rewards Credit Card and the Bank of America® Travel Rewards Visa® credit card !

Picture of Charles Reed

By: | May 18, 2018

I'm looking for a 21 month, 0% transfer fee 0% APR, and no fees at all

1 Reply

By: CompareCards | May 25, 2018

For balance transfers with low introductory APR take a look at the Citi® Diamond Preferred® Card and Discover it® Balance Transfer both of which have great offers!

Picture of Brian McCleney

By: | Apr 24, 2018

I want to transfer about a $2000 balance from a 23% apr to a 0% apr. What are my best options?

1 Reply

By: CompareCards | May 25, 2018

The Citi® Diamond Preferred® Card and Discover it® Balance Transfer offer great introductory APR offers for balance transfers!

Picture of Colette Bell

By: | Apr 4, 2018

Are there credit cards for people who have been building their credit, having now fair, to good credit, but probably not considered excellent yet.

1 Reply

By: CompareCards | May 25, 2018

There are many options for people who have increasing credit in your range! Take a look at credit cards for fair credit and credit cards for good credit!

Picture of Paul Calderon Hughes

By: | Mar 12, 2018

Whar are the best cards for someone with bad crefit looking to rebuild?

1 Reply

By: CompareCards | May 29, 2018

Secured credit cards are an excellent way for people with bad credit scores to rebuild credit! The way these cards work is by using a refundable security deposit to create an initial line of credit. Take a look at the Discover it® Secured and the Capital One® Secured Mastercard®!

Picture of Doug Leedy

By: | Feb 27, 2018

What is the best card for people with excellent credit who have some balances to transfer?

1 Reply

By: CompareCards | Mar 7, 2018

If you have excellent credit, you have a great chance of getting approved for any card you choose. A few of the most popular balance transfer cards include The Amex EveryDay® Credit Card from American Express, the Chase Slate® and the Discover it® Balance Transfer.

Picture of Cyndi J Murphy

By: | Feb 24, 2018

I have 1 card with 11000.00 on it at 11% want to transfer to a 0% card. what are my best options?

1 Reply

By: CompareCards | Mar 7, 2018

A few of the most popular balance transfer cards include The Amex EveryDay® Credit Card from American Express, the Chase Slate® and the Discover it® Balance Transfer.

Picture of Audie A. Henze

By: | Feb 23, 2018

I have absolutely no knowledge of how to do balance transfers and could certainly use anyone's help on how to obtain this. Could someone please help me?? Please.!!!

2 Replies

By: CompareCards | Mar 7, 2018

Check out our Complete Guide to a Balance Transfer for an easy walk through of how to get started!

By: Julia Mcnaughton-Roache | May 3, 2018

When you get the card call the number on the back and a customer service representative will help you with the steps to take. Good Luck.

Page:

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.