Best Balance Transfer Credit Cards to Pay Off Holiday Debt

Quick Answer

You can use a new balance transfer credit card to pay off holiday debt over time without paying additional interest. Our top picks have no annual fees and several offer rewards.

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The holidays can be the most expensive time of the year, and inflation isn't helping. The overall year-over-year inflation rate in December was 6.5%, according to the Bureau of Labor Statistics, but price changes can vary dramatically depending on what you buy. If you're flying to visit loved ones, airline prices are up about 45.6%, but if you're looking for a new TV, prices are actually down around 16.8%.

Regardless of where you're going and what you're wrapping, many people take on some credit card debt during the holiday season. When that happens, you can use a balance transfer credit card to pay off the debt—without paying any interest—for up to 21 months.

2 Partner Offers

Our Picks for the Best Balance Transfer Credit Cards to Pay Off Holiday Debt
Wells Fargo Reflect® Card

Wells Fargo Reflect® Card

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers

17.99% - 29.99% variable APR

Balance transfer fee of 5% (minimum: $5)

Bank of America® Customized Cash Rewards credit card

Bank of America® Customized Cash Rewards credit card

Intro 0% APR for 18 billing cycles on purchases and qualifying balance transfers made within the first 60 days

17.99% to 27.99% variable APR

3% balance transfer fee (minimum $0)

Wells Fargo Reflect® Card


on Wells Fargo's website

Good - Exceptional


17.99% - 29.99% variable APR

Intro APR

0% intro APR for 21 months from account opening on purchases and qualifying balance transfers



Intro Bonus


Annual Fee


Card Details
  • 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.99% to 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
  • $0 Annual Fee
  • Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible)
  • Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
  • Select “Apply Now” to learn more about the product features, terms and conditions
  • Matched For You are statements made by Experian and may not reflect Wells Fargo’s underwriting standards

Rates and Fees

The Wells Fargo Reflect® Card has the longest potential introductory 0% annual percentage rate (APR) offer of our top picks. You'll receive an 21-month intro rate period—starting from when you open your account—on new purchases and balances that you transfer to the account. Balance transfers made within 120 days of account opening also qualify for the intro rate. After your intro period ends, the standard 17.99% - 29.99% variable APR applies to your purchases and balance transfers.

Although there's no annual fee for the card, you will have to pay a 5% balance transfer fee ($5 minimum) on balances that you transfer.

Credit card holders also have access to a few additional benefits. For example, you can get up to $600 in cellphone protection ($25 deductible applies) if you use the card to pay your monthly mobile phone bill. You may also be able to save money with the personalized My Wells Fargo Deals.

Bank of America® Customized Cash Rewards credit card

The Bank of America® Customized Cash Rewards credit card offers an intro 0% APR for 18 billing cycles. The promotional rate applies to your purchases and to any balance transfers that you make within 60 days of opening your account. A 3% balance transfer fee ($0 minimum) applies to each balance transfer, and the standard 17.99% to 27.99% variable APR applies to purchases and transferred balances after the intro period ends.

This card has no annual fee and offers an intro $200 cash rewards bonus if you make at least $1,000 in purchases within 90 days of opening your account. The card also offers 2% cash back at grocery stores and wholesale clubs, and 3% cash back on the category you choose from a sizable list, including gas, online shopping, dining, travel, drug stores and home improvement/furnishings. The 2% and 3% cash back rates apply on up to $2,500 in combined purchases each quarter. But you'll get 1% cash back on all other qualifying purchases, including ones in non-bonus categories.

Although the intro 0% APR offer and ongoing cash back rewards can benefit anyone, current Bank of America customers may benefit even more. The card is part of the Preferred Rewards program, which offers a 25% to 75% bonus on your cash back earnings depending on your three-month combined average daily balance at Bank of America deposit and Merrill investment accounts.

What You Need to Know About Balance Transfers

You can use a credit card with a balance transfer offer to move balances from other credit cards or transfer a balance to your bank account and use the money to pay off other types of debts. Your new card's intro 0% APR offer allows you to focus on paying off the balance without having to pay interest as well, which can save you money and help you pay off the card quickly.

However, balance transfers aren't always a good idea. And, even when they are, you'll want to be aware of the offers' terms and conditions. A few things to be mindful of are:

  • Balance transfer fees: Many balance transfer cards charge a 3% to 5% fee on every balance you transfer. Compare the cost of the fee to your expected interest savings to see if you'll come out ahead. You may also be able to find balance transfer cards that don't have balance transfer fees—look for options from community banks and credit unions—but these may have shorter promotional periods.
  • Transfer limits: Your new credit card's balance transfer limit may be equal to or lower than your card's credit limit, and you won't know your account's limit until after you apply. If your limit isn't high enough to accommodate all the debt you want to transfer, focus on transferring balances with the highest APRs first. You also may be able to transfer and pay off multiple balances within the promotional period.
  • Transfer timelines: Some balance transfer cards only apply the intro 0% APR or a lower balance transfer fee to balances that you transfer within a certain amount of time. Make sure you request the balance transfers right away to take advantage of these intro offers.
  • Some offers don't include purchases: Unless you also receive an intro 0% APR offer on purchases, your purchases may start to accrue interest right away while you're paying off the transferred balances. Review the card terms carefully and try to avoid paying interest. If you want to make purchases to earn an intro bonus, you could pay off that balance right away to limit how much interest accrues.
  • You can't use balance transfers to overcome overspending: Using a balance transfer to pay off holiday debt can make a lot of sense. But a balance transfer may be dangerously tempting if you tend to overspend throughout the year. You'll now have more available credit on your other credit cards and could wind up deeper in debt overall.

It's also important to have a plan for paying off your balance transfers. At the end of your promotional period, any remaining balance will start to accrue interest based on your card's standard APR.

Find Balance Transfer Cards Based on Your Credit

Your credit score can impact which credit cards you can qualify for and the balance transfer limit you receive on your new account. Check your credit score for free to see where you currently stand. You can also use Experian CreditMatch™ to get matched with balance transfer credit card offers based on your unique credit profile.