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Balance Transfers

7 Best Balance Transfer Cards to Help You Pay off Holiday Debt

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The tree is down, the menorah has been extinguished and the festivities have come and gone. But the holiday hangover may just be starting.

If you're staring at your post-holiday credit card debt in disbelief, don't panic. There's a tool available to help you pay off your credit card debt as quickly as possible while paying as little interest as you can—a balance transfer credit card.

Find balance transfer credit cards in Experian CreditMatch.

Many credit cards offer 0% promotional financing on balance transfers. These offers allow you to avoid interest charges for a limited time. In most cases, once that introductory 0% period expires, your remaining balance is subject to the standard interest rate.

In some situations, however, an issuer may charge "deferred interest"—meaning that if you fail to pay off the whole transfer amount during the promotional period, the full amount could be subject to the standard rate retroactively. Check with your card issuer for its policy. (Most offers also charge a balance transfer fee, which you should take into consideration before you initiate a transfer.)

Check out these seven credit cards with introductory 0% APR balance transfer offers:


Wells Fargo Platinum Visa® Card

Wells Fargo Platinum Visa® Card

Annual Fee: None
Intro APR: 0% on balance transfers and purchases for 18 months
Ongoing APR: 13.74% to 27.24% variable, depending on your creditworthiness
Balance Transfer Fee: $5 or 3% if within 120 days of account opening, whichever is greater (or 5% after 120 days)

This card offers one of the longest 0% introductory periods available, on both purchases and balance transfers. If you take advantage of the balance transfer offer within 120 days of opening your account, you'll pay a 3% balance transfer fee. After 120 days, the fee jumps to 5% of the balance transfer amount. While you don't earn rewards with this card, you are eligible for up to $600 protection on your cell phone (subject to a $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with the card.


Citi® Double Cash Card - 18 month BT offer

Citi® Double Cash Card - 18 month BT offer

Intro APR: 0% on balance transfers for 18 months
Ongoing APR: 15.74% to 25.74% variable, depending on your creditworthiness
Balance Transfer Fee: $5 or 3%, whichever is greater

While this card offers 2% cash back on purchases (1% when you buy and 1% as you pay them off), balance transfers do not earn cash back. You should focus on paying off your balance transfer amount before using this card for purchases because once you start using the card for purchases, interest will be charged on the full amount (including balance transfers). Balance transfers must be completed within four months of opening your account.

Find balance transfer credit cards in Experian CreditMatch.


Discover it® Balance Transfer

Discover it® Balance Transfer

Intro APR: 0% on balance transfers for 18 months and 0% on purchases for six months
Ongoing APR: 14.24% to 25.24% variable, depending on your creditworthiness
Balance Transfer Fee: $5 or 3%, whichever is greater

You'll earn 1% unlimited rewards on all purchases and 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, as long as you activate the offer each quarter. Discover will also match all the cash back you've earned at the end of your first year.


Barclaycard Ring® Mastercard®

Barclaycard Ring® Mastercard®

Intro APR: 0% on balance transfers for 15 months (if they post to your account within 45 days of account opening)
Ongoing APR: 14.24% variable
Balance Transfer Fee: $5 or 2%, whichever is greater (no fee on transfers that post to your account after 45 days of account opening)

This card offers one of the lowest balance transfer fees available: just 2% of the transfer amount, as long as you make the transfer within 45 days of opening the account. That's how long you have to take advantage of the 0% introductory offer, as well. After 45 days, balance transfers will not incur a fee but will transfer to the standard APR of 13.99%. That standard APR is also one of the lowest available, in case you aren't able to pay your balance transfer off during the 15-month introductory period.

Find balance transfer credit cards in Experian CreditMatch.


Chase Freedom Unlimited®

Chase Freedom Unlimited®

Intro APR: 0% on purchases and balance transfers for 15 months
Ongoing APR: 16.99% to 25.74% variable, depending on your creditworthiness
Balance Transfer Fee: $5 or 3%, whichever is greater

You'll earn unlimited 1.5% cash back on all purchases and a $150 bonus after you spend $500 on purchases within the first three months of opening your account. There's no minimum to redeem cash back.


Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express

Intro APR: 0% on purchases and balance transfers for 15 months
Ongoing APR: 15.24% to 26.24% variable, depending on your creditworthiness
Balance Transfer Fee: $5 or 3%, whichever is greater

This is a solid card for everyday spending. You earn 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%); 2% cash back at U.S. gas stations and select U.S. department stores; and 1% cash back on all other purchases. You also have the chance to earn a $150 statement credit after you spend $1,000 on purchases on your new card within the first three months.

Find balance transfer credit cards in Experian CreditMatch.


Capital One® SavorOne℠ Cash Rewards Credit Card

Capital One® SavorOne℠ Cash Rewards Credit Card

Intro APR: 0% on purchases and balance transfers for 15 months
Ongoing APR: 15.24% to 25.24% variable, depending on your creditworthiness
Balance Transfer Fee: $5 or 3%, whichever is greater

If you need to make a balance transfer and you're a foodie, this card might be the right pick for you. You earn unlimited 3% cash back on dining and entertainment purchases, 2% cash back at grocery stores and 1% cash back on all other purchases. You also earn a $150 sign-up bonus after you spend $500 on purchases within the first three months of opening the account.


Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer or other company, and have not been reviewed, approved or otherwise endorsed by any of these entities. All information, including rates and fees, are accurate as of the date of publication.
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