If you’re one of the many Americans struggling to keep up repayments on a high-interest credit card, the answer could lie in simply transferring the debt over to a new card with a lower interest rate. With so many providers vying for your customers with excellent introductory offers, a balance transfer could slash your debt and make your finances that much easier to manage. As with everything finance-related, it pays to do your research before jumping into bed with a new bank: to help you out, we’ve taken a look at 10 of the best credit cards for balance transfers in 2019.
1. Citi Simplicity Card
Offering 0% APR on balance transfers for the first 21 months from the date of your first transfer (increasing to 16.99%-26.99% variable APR thereafter), along with 0% APR on all purchases credited to your account within the first 12 months of account opening (increasing to 16.99%-26.99% variable APR from the 2nd year), the Citi Simplicity Card is an excellent option for anyone looking for the maximum amount of time to pay off their account balance. With no annual fee and some great little perks (including flexible payment dates, account protection and free access to your credit score), it’s a great addition to your wallet.
2. Citi Double Cash Card
Next up is another great option from Citi- the Double Cash Card. If you’re looking to combine a great introductory offer on balance transfers (0% APR for the first 18 months on all balance transfers made within the first 4 months from account opening, increasing to a variable APR of 15.74% - 25.74% thereafter) with an excellent cashback offer (1% cashback on every purchase made with the card, and another 1% cashback if you pay the minimum due by the set billing date), this could be just the ticket. As per the Citi Simplicity Card, it also comes with the usual Citi perks of purchase and travel protection, EMV chip technology, and 24-hour fraud protection.
3. BankAmericard Credit Card
With a low introductory APR offer (0% APR on purchases made within the first 15 months from account opening, and 0% APR for 15 months on any balances transferred within 60 days of account opening, reverting to 15.24%-25.24% in the 16th month), no annual fee, no penalty APR (i.e. your interest rate won’t increase if you pay late), and free access to your FICO score, the BankAmericard credit card is certainly worthy of consideration.
4. Capital One Quicksilver Cash Rewards Credit Card
A great option for anyone looking to transfer balances over an extended period, the Capital One Quicksilver Cash Rewards Credit Card offers an introductory APR of 0% for the first 15 months from account opening on all balance transfers and purchases. It’ll also reward you with a 1.5% cashback on all purchases. After the 15-month window closes, the APR on any transferred balances and purchases will revert to 16.24% - 26.24%, depending on your financial history. In addition to the savings you stand to make by transferring your balance, you’ll also benefit from no annual fees, a one-time cash bonus of $150 when you spend $500 within the first 3 months of account opening, and no foreign transaction fees.
5. U.S. Bank Visa Platinum Card
Transfer your existing balance to a U.S. Bank Visa Platinum Card and you’ll enjoy a 0% introductory APR for the first 18 months on both the balance and any purchases you make during the same period. After that, a variable APR of 14.74% - 25.74% will apply. Additional benefits include no annual fee, cell phone protection when you pay your monthly cellular bill with your card, flexible payment dates, fraud protection, and free access to your TransUnion Credit Score.
6. HSBC Gold Mastercard Credit Card
Offering a very competitive 18-month introductory offer on all purchases and any balance transfers made within the first 60 days from account opening (reverting to a variable APR of 13.24%, 17.24% or 21.24% after that), a late fee waiver, no penalty APR on late payments, and a host of additional perks such as no foreign transaction fees, MasterRental coverage, a 15% discount of Airport Meet and Greet services, ID Theft Protection, and 24/7 Emergency Card Services, the HSBC Gold Mastercard Credit Card is a great little card to have in your arsenal.
7. The Amex EveryDay Credit Card from American Express
Offering a great line-up of perks that other providers will struggle to match, the Amex EveryDay Credit Card from American Express is certainly worth a second glance. Its 0% intro APR applies to all balances transferred within the first 60 days of account opening and lasts for 15 months (a variable APR of 15.24% to 26.24% will apply after the end of the introductory period). Unlike many providers, it doesn’t charge a balance transfer fee for the initial 60 days, so there are no extra costs to be considered. Additional benefits include a loyalty program that rewards you with points on all your everyday expenditures, payment flexibility, roadside assist, car rental loss and damage insurance, and more besides.
8. Chase Slate Card
The chief benefit of the Chase Slate card is the $0 balance transfer fee it charges on all transfers made during the first 60 days from account opening. Once the 60-day window closes, the fee will revert to a flat 5%. You’ll also enjoy a 0% APR on all balances transfers and purchases made within the first 15 months– after that, an interest rate of between 17.24% to 25.99% will apply. Further benefits include no penalty APR on late payments, free access to your credit score, and no annual fee.
9.Chase Freedom Unlimited Card
Another excellent option from Chase comes with the Chase Freedom Unlimited. In addition to the 0% introductory APR on all balance transfers and purchases completed within the first 15 months from account opening (with a variable APR of 17.24% to 25.99% then applying), you’ll benefit from a cashback bonus of $150 when you spend a minimum of $500 within the first three months of account opening, no annual fee, and free access to your credit score.
10. Discover It Balance Transfer Card
Last, but by no means least, we have the Discover It Balance Transfer card. Two of the chief benefits of the card is the 0% APR introductory offer on all balance transfers within the first 18 months of account opening, and Discover’s excellent cashback offer: for every eligible purchase you make at gas stations, grocery stores, restaurants, and Amazon, you’ll earn a 5% cashback. All other purchases come with $1 cashback. At the end of the first year, Discover will match all the cashback you’ve accrued and automatically apply it to your card. If you’re looking for a card that offers a great rate on your balance transfers and ongoing ways of reducing your overall debt, this might well be it.
Written by Dana Hanson
Read more posts by Dana Hanson