Balance Transfer Credit Card Offers Are Making a Comeback. These Are the Best Right Now

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A money-saving debt payoff tool is making a return after an extended pause through the pandemic. 

High-value, long-lasting balance transfer credit card offers are slowly returning to the market, with a few major issuers debuting new offers and others extending their existing offers for longer periods. 

That’s good news for cardholders with lingering debt balances. If you have existing high-interest debts, a balance transfer credit card can be a great tool to jumpstart your debt payoff, and longer introductory periods give you more time to pay off your debt.

These offers are good because, at 0% APR, the interest rate is much lower than what you’re currently paying on credit card debt, says Tarra Jackson, financial expert and founder of Madam Money. Balance transfer cards are designed to help you pay off that debt interest-free over an introductory 0% APR period — usually 12-18 months, but some cards available today have intro periods up to 21 months. That allows you to pay down the principal balance without accruing more interest on your debt. 

Here’s what you need to know about balance transfer offers today, and what to look for if you’re considering consolidating debt via balance transfer.

Balance Transfer Offers in 2022

When the COVID-19 pandemic began, many balance transfer offers disappeared.

“Card issuers basically went into hiding,” says Ted Rossman, senior industry analyst at CreditCards.com, which is owned by Red Ventures, like NextAdvisor. “They really didn’t want to take on new customers with debt, and it was just a riskier audience.”

But starting in 2021, some issuers began to once again expand their balance transfer offerings, meaning more options for people looking to pay down debt. 

One of the first major signs we saw was with the Wells Fargo Reflect℠ Card, which is a balance transfer card that offers 0% introductory APR up to 21 months from account opening on both new purchases and qualifying balance transfers (0% intro APR for 18 months from account opening with an intro APR extension of up to 3 months with on-time payments during the intro and extension periods; 13.74% to 25.74% variable APR thereafter) — among the longest 0% intro APR offers available today.

Around the same time, Citi — which continued to offer scaled-back balance transfer options throughout the pandemic — extended its 0% intro period on some balance transfer cards, like the Citi Simplicity® Card, which now also offers 21 months of 0% intro APR for balance transfers (15.49% to 25.49% variable APR thereafter; balance transfers must be completed within 4 months of account opening). Two of Chase’s most popular card options, the Chase Freedom Unlimited® and the Chase Freedom Flex℠, also introduced 0% intro APR offers last year, on balance transfers and purchases for the first 15 months (15.24% to 23.99% variable APR thereafter). 

And some experts believe the trend will continue this year. “The credit card industry tends to be a little bit of a copycat industry — meaning if one or two big card issuers start doing something, they kind of drag the rest of the industry behind them to some extent,” says John Ulzheimer, a credit expert, formerly at FICO and Equifax. 

Still, not every issuer is getting back on the balance transfer train yet. In fact, some issuers — like American Express, which did offer some competitive balance transfers before the pandemic — haven’t yet reintroduced balance transfers within their portfolios. 

But if you have debt to pay down, keep an eye on new offers you may be eligible for throughout the year that align with your budget and timeline. 

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Wells Fargo Reflect℠ Card

Wells Fargo Reflect℠ Card

Editor’s Score: (4.2/5)
  • Introductory balance transfer rate:
    0% intro APR for up to 21 months from account opening on qualifying balance transfers
  • Annual fee:
    $0
  • Regular APR:
    13.74% – 25.74% Variable APR
  • Recommended credit:
    670-850 (Good to Excellent)
  • Apply Now externa link icon At Wells Fargo’s secure site See Rates & Fees.
Learn More externa link icon
Citi Simplicity® Card

Citi Simplicity® Card

Editor’s Score: (4.0/5)
  • Introductory balance transfer rate:
    0% for 21 months on Balance Transfers
  • Annual fee:
    $0
  • Regular APR:
    15.49% – 25.49% (Variable)
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon At our partner’s secure site
Learn More externa link icon
Chase Freedom Unlimited®

Chase Freedom Unlimited®

Editor’s Score: (4.7/5)
  • Introductory balance transfer rate:
    0% Intro APR on Balance Transfers for 15 months
  • Annual fee:
    $0
  • Regular APR:
    15.24% to 23.99% Variable
  • Recommended credit:
    670-850 (Good to Excellent)
  • Apply Now externa link icon At Chase’s secure site

How to Choose the Best Balance Transfer Card Offers

Balance transfer cards offer introductory periods that can last up to nearly two years, but that’s not the only thing you should consider. There are a few important details to look for when choosing any balance transfer offer.

Pay attention to any fees you may incur to transfer your debt balance to a balance transfer card. 

Jackson recommends looking for cards with no balance transfer fees. Depending on your balance, she says, the fee could add up and offset what you’re saving on interest.

But in some cases, even a higher fee (most balance transfer cards won’t charge over a 5% fee) can be worth it, considering the amount you’ll save on interest if you can pay the balance in full before the introductory period ends.

Take some time to compare different options, using your total debt balance and the amount you can commit to paying each month. Find the card with the combination of intro period length and fees that can help you save the most money while paying down as much as possible before the intro period ends.

If you plan to use your card even after the intro period ends, you may also want to consider  balance transfer card offers that give you rewards, cash back, or other benefits on your spending. 

Look for cards that offer a sign-up bonus, cash back, travel points, and other perks if you choose to use your balance transfer card after you’ve paid your debt and pay your balance in full each month. 

The Best Balance Transfer Card Offers 

Wells Fargo Reflect℠ Credit Card

Wells Fargo Reflect℠ Card
Learn More externa link icon
Wells Fargo Reflect℠ Card
Editor’s Score: (4.2/5)
Apply Now externa link icon At Wells Fargo’s secure site. See Rates & Fees.
Wells Fargo Reflect℠ Card
Editor’s Score: (4.2/5)
  • Introductory balance transfer rate:
    0% intro APR for up to 21 months from account opening on qualifying balance transfers
  • Annual fee:
    $0
  • Regular APR:
    13.74% – 25.74% Variable APR
  • Recommended credit score:
    670-850 (Good to Excellent)

NextAdvisor’s Take

Pros
  • Long intro APR
  • No annual fee
  • Cell phone protection
Cons
  • No rewards
  • High APR after the introductory offer ends
  • Must meet requirements to get full 21 months of 0% intro APR
The Bottom Line
The no annual fee Wells Fargo Reflect Card offers an initial 0% intro APR on purchases and qualifying balance transfers for 18 months from account opening, with the potential for an intro APR extension of up to 3 months with on-time minimum payments during the introductory and extension periods. After that, there will be a variable APR of 13.74% to 25.74%. It’s light on added perks and has no rewards, but carries one of the longest 0% intro periods available today.

Additional Card Details

  • Get a 0% introductory APR for up to 21 months from account opening on purchases and qualifying balance transfers — start with a 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers, then unlock up to three additional months with on-time minimum payments during the 18-month offer and the extension period, then a 13.74% to 25.74% variable APR thereafter
  • Cell phone protection worth up to $600 when you pay your bill with your eligible Wells Fargo card (subject to a $25 deductible)
  • Get access to My Wells Fargo Deals: earn cash back in the form of a statement credit when you use your eligible Wells Fargo card with select retailers
  • Roadside dispatch

The Wells Fargo Reflect℠ Credit Card has one of the longest introductory periods of our top balance transfer picks — up to 21 months. You’ll start with 18 months of 0% APR, with the option to extend the intro period to 21 months, as long as you make on-time minimum monthly payments throughout the regular and extended intro periods. The offer applies to both new purchases and qualifying balance transfers. There’s a variable interest rate of 13.74% – 25.74% after the intro period. 

The card doesn’t come with an annual fee. But there’s an introductory 3% balance transfer fee ($5 minimum) for 120 days. After that, the fee increases to 5% (minimum $5) for each balance transfer.  

Citi Simplicity Card

Citi Simplicity® Card
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Citi Simplicity® Card
Editor’s Score: (4.0/5)
Learn more externa link icon At our partner’s secure site.
Citi Simplicity® Card
Editor’s Score: (4.0/5)
  • Introductory balance transfer rate:
    0% for 21 months on Balance Transfers
  • Annual fee:
    $0
  • Regular APR:
    15.49% – 25.49% (Variable)
  • Recommended credit score:
    670-850 (Good to Excellent)

NextAdvisor’s Take

Pros
  • 0% Intro APR for 21 months for balance transfers and 12 months for purchases (then variable APR 15.49% to 25.49%)
  • No annual fee
  • No late payment fees or penalty APR
Cons
  • No rewards
  • No welcome offer
  • 5% balance transfer fee ($5 minimum)
The Bottom Line
The Citi Simplicity Card has one of the longest 0% introductory periods available for balance transfers, at 21 months from the date of your first transfer. For purchases, cardholders can benefit from 12 months of 0% interest, making this a great card option for consolidating debt or financing planned major expenses (15.49% – 25.49% variable APR thereafter).

Additional Card Details

  • Balance transfers must be completed within 4 months of account opening
  • Includes Citi Identity Theft Solutions protection
  • Choose your payment due date
  • Digital wallet compatible

The Citi Simplicity® Card has a 21-month introductory period for purchases and balance transfers — making it ideal for paying off debt or making a big purchase and paying it off quickly. 

It doesn’t come with a fee for late payments or annual fee, but there is a balance transfer fee of $5 or 3% of the balance. There’s a variable APR of 15.49% – 25.49% after the intro period.

U.S. Bank Visa Platinum Card

U.S. Bank Visa® Platinum Card
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U.S. Bank Visa® Platinum Card
Editor’s Score: (4.1/5)
Learn more externa link icon At our partner’s secure site. See Rates & Fees, Terms Apply.
U.S. Bank Visa® Platinum Card
Editor’s Score: (4.1/5)
  • Introductory balance transfer rate:
    0% for 20 billing cycles on balance transfers
  • Annual fee:
    $0
  • Regular APR:
    15.24% – 25.24% (Variable)
  • Recommended credit score:
    670-850 (Good to Excellent)

NextAdvisor’s Take

Pros
  • Long 0% interest intro offer for purchases and balance transfers
  • No annual fee
  • No penalty APR
Cons
  • Fees for late or returned payment
  • 3% balance transfer fee ($5 minimum) applies
  • No rewards structure
The Bottom Line
U.S. Bank Visa Platinum is a solid option for a 0% interest intro offer on new purchases as well as balance transfers, and it’s easy to see why: its 20-billing-cycle intro period (15.24% – 25.24% variable APR thereafter) is among the longest available. You won’t earn any ongoing rewards, but for debt payoff or forgoing interest on new purchases, this card is a great choice.

Additional Card Details

  • 0% introductory APR for 20 billing cycles on new purchases
  • 0% introductory APR for 20 billing cycles on balance transfers posted to your account within 60 days of account opening
  • Balance transfer fee of $5 or 3% of balance, whichever is greater
  • No penalty APR
  • Cellphone protection for damage or theft up to $600 for up to two claims per year with a $25 deductible.

The U.S. Bank Visa Platinum Card offers 0% APR on purchases and balance transfers for the first 20 billing cycles. There is a variable APR of 15.24% – 25.24% after that. It’s a no annual fee credit card, but comes with a balance transfer fee of $5 or 3%, whichever is greater. 

BankAmericard® Credit Card 

The BankAmericard® Credit Card has a 0% APR for the first 18 billing cycles on purchases and balance transfers, but you have to transfer the balance within 60 days to qualify for the introductory period. After the introductory period ends, there is a variable APR of 13.24% – 23.24%. The card doesn’t have an annual fee, but has a 3% fee (minimum of $10) for each balance transfer. 

New cardholders can also earn a $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of opening an account. 

Citi® Double Cash Card 

Citi® Double Cash Card
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Citi® Double Cash Card
Editor’s Score: (4.4/5)
Learn more externa link icon At our partner’s secure site.
Citi® Double Cash Card
Editor’s Score: (4.4/5)
  • Introductory balance transfer rate:
    0% intro for 18 months on Balance Transfers
  • Annual fee:
    $0
  • Regular APR:
    14.74% – 24.74% (Variable)
  • Recommended credit score:
    670-850 (Good to Excellent)
Rewards rate:

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

NextAdvisor’s Take

Pros
  • Flat cash back on every purchase
  • 18-month 0% intro APR for balance transfers
  • No annual fee
Cons
  • No welcome bonus
  • 3% balance transfer fee ($5 minimum) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5)
  • Delayed cash back rewards if you carry a balance
The Bottom Line
The Citi Double Cash Card has a straightforward rewards structure that gets you up to 2% back on everything — which is great if you’re looking to maximize savings on every purchase you make. It also shines as a debt management tool, with an 18-month 0% intro rate for balance transfers (14.74% – 24.74% variable APR thereafter).

Additional Card Details

  • Extra incentive to pay down your balance in full: You’ll earn only 1% cash back when you make a purchase, and the other 1% when you pay it off
  • 18-month 0% intro period on balance transfers, 14.74% to 24.74% variable APR thereafter
  • Redeem cash back for statement credits, direct deposit, check, or convert cash back value to Citi ThankYou points
  • $25 minimum cash back redemption
  • Balance transfers must be completed within 4 months of account opening and a 3% ($5 minimum) fee applies, After that, your fee will be 5% of each transfer (minimum $5)

The Citi® Double Cash Card is a flat-rate, no annual fee cash back card that comes with 0% APR for 18 months on balance transfers, and a variable APR of 14.74% – 25.74% after that. There is a balance transfer fee of 3% ($5 minimum) for each transfer within the first four months of account opening. After that, the fee increases to 5% ($5 minimum) for each transfer.

Citi Double Cash stands apart from many balance transfer options, since it also offers ongoing cash back rewards. With no category restrictions, you can get 2% cash back on all your spending — 1% as you buy, and 1% when you pay off your purchases. 

Editorial Independence

As with all of our credit card reviews, our analysis is not influenced by any partnerships or advertising relationships.